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<h5 style='line-height:normal' align="center"><font face="Arial">UNITED
STATES<br>
<b>SECURITIES AND
EXCHANGE COMMISSION<br>
</b>Washington, DC 20549</font></h5>



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<p class=MsoNormal align=center style='text-align:center'><font face="Arial"><b>FORM 8&#8209;K</b></font></p>



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<font face="Arial" size="2">CURRENT REPORT<br>
Pursuant to
Section 13 or 15(d) of<br>
the Securities
Exchange Act of 1934</font></p>
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<font size="2" face="Arial">Date of Report
(Date of earliest event reported)<br>
</font><font face="Arial"><b>&nbsp;<br>
May 26, 2005</b></font></p>



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<p class=MsoNormal align=center style='text-align:center'><b>
<font face="Arial">MENTOR
CORPORATION<br>
</font></b><font face="Arial" size="2">(Exact name of
registrant as specified in its charter)</font></p>



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	<font face="Arial" size="2"><b><u>Minnesota</u></b></font></p>
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	<font face="Arial" size="2"><b><u>0-7955</u></b></font></p>
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	<font face="Arial" size="2"><b><u>41-0950791</u></b></font></p>
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	<font face="Arial" size="2">(State or
  other jurisdiction of
  incorporation)</font></p>
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	<font face="Arial" size="2">(Commission
  File Number)</font></p>
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	<font face="Arial" size="2">(IRS Employer<br>
  Identification No.)</font></p>
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<p class=CenterText style='margin-top:0in'>&nbsp;</p>
<p class=CenterText style='margin-top:0in' align="center">
<font face="Arial" size="2"><b>201 Mentor Drive<br>
Santa Barbara, California&nbsp; 93111<br>
</b>(Address of
principal executive offices, including zip code)</font></p>



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<font face="Arial" size="2"><b>(805) 879-6000<br>
</b>(Registrant's
telephone number, including area code)</font></p>
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<font face="Arial" size="2"><b>Not Applicable<br>
</b>(Former name or
former address, if changed since last report)</font></p>



<p><font face="Arial" size="2">Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions:</font></p>

<p style='margin-left:14.25pt;text-indent:-14.25pt'><font face="Arial" size="2">[&nbsp; ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</font></p>

<p style='margin-left:14.25pt;text-indent:-14.25pt'><font face="Arial" size="2">[&nbsp; ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style='margin-left:14.25pt;text-indent:-14.25pt'><font face="Arial" size="2">[&nbsp; ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p class=MsoBodyText3 style='margin-left:14.25pt;text-indent:-14.25pt'>
<font face="Arial" size="2">[&nbsp; ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</font></p>

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<h1 align=left style='text-align:left;line-height:normal'>
<font face="Arial" size="2">Item 1.01&nbsp; Entry into a Material
Definitive Agreement.</font></h1>



<p class=hdgleftbold style='text-indent:.5in'><font face="Arial" size="2">Credit Agreement</font></p>















<p><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On May 26, 2005, Mentor
Corporation&nbsp; (&quot;Mentor&quot;) entered into a Credit Agreement (the &quot;Credit
Agreement&quot;) with Bank of the West, as administrative agent, swing line lender,
and letter of credit issuer (the &quot;Administrative Agent&quot;), Union Bank of
California, N.A., as syndication agent, Wells Fargo Bank, National Association,
as documentation agent, and certain lenders from time to time parties thereto
(the &quot;Lenders&quot;).</font></p>

<p><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Credit Agreement
provides Mentor with a $200 million senior
revolving credit facility, subject to a $20 million sublimit for the issuance
of standby and commercial letters of credit, a $10 million sublimit for swing
line loans and $50 million alternative currency sublimit.&nbsp; At the election of Mentor, the aggregate maximum principal
amount available for borrowings under the Credit Agreement may be increased by
up to an additional $50 million.&nbsp; Funds under the Credit Agreement are
available to Mentor to finance permitted
acquisitions, stock repurchases up to certain dollar limitations and other general
corporate purposes.&nbsp; As of the date of this Current Report, there were no
borrowings outstanding under the Credit Agreement.&nbsp; </font> </p>

<p><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest on borrowings
(other than swing line loans) under the Credit Agreement is at a variable rate
that is calculated, at Mentor's option, at either the prime lending
rate of the Administrative Agent (the &quot;Prime Rate&quot;), or LIBOR plus an
additional percentage that varies depending on Mentor's senior leverage ratio (as
defined in the Credit Agreement) at the time of the borrowing (based on Mentor's
current senior leverage ratio, this additional percentage would be 1%).&nbsp; Swing line
loans bear interest at the Prime Rate.&nbsp; Interest is payable by Mentor at least quarterly and on the last day of the respective interest
period for loans based on LIBOR. &nbsp;</font></p>
<p><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition, Mentor paid certain fees to the Administrative Agent and the
Lenders upon entry into the Credit Agreement, and Mentor will be obligated to pay, over the
term of the Credit Agreement, an unused commitment fee based on Mentor's senior leverage ratio and the
total revolving commitments made available to Mentor by the Lenders.&nbsp; Fees are
payable quarterly in arrears to the Administrative Agent for the ratable
benefit of each Lender.&nbsp; </font> </p>

<p><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings by Mentor under the Credit Agreement are
guaranteed, pursuant to the terms of a Guaranty attached as Exhibit E to the
Credit Agreement, by two of Mentor's
wholly-owned domestic subsidiaries, Mentor Texas L.P., and Mentor Minnesota,
Inc., in favor of the Administrative Agent for the benefit of the Lenders.&nbsp; In
addition, borrowings under the Credit Agreement are secured by a pledge of 100%
of the outstanding capital stock of two of Mentor's wholly-owned domestic
subsidiaries, Mentor International Holdings Alpha, Inc., and Mentor
International Holdings Beta, Inc., and by 65% of the outstanding capital stock
of one of Mentor's French subsidiaries, Porges, S.A., all pursuant to the
terms and conditions of a Pledge Agreement, the form of which is attached as
Exhibit B to the Credit Agreement.&nbsp; </font> </p>
<p><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Credit Agreement
imposes certain financial and operational restrictions on Mentor and its
subsidiaries, including financial covenants that require Mentor to maintain a
maximum consolidated funded debt leverage ratio of not greater than 4.00 to
1.00, a senior funded debt ratio of not greater than 2.50 to 1.00, minimum quarterly
EBITDA and a minimum fixed charge ratio of greater than 1.25 to 1.00.&nbsp; The
covenants also restrict Mentor's ability, among other things, to make certain
investments, incur certain types of indebtedness or liens, dispose of
assets in excess of $25 million, make acquisitions in excess of $20 million (except in compliance with certain
criteria), pay dividends or repurchase shares of its common stock above specified
thresholds, and make other distributions, except in certain limited
circumstances.&nbsp; The Credit Agreement also contains customary events of default,
including payment defaults, material inaccuracies in its representations and
warranties, covenant defaults, bankruptcy and involuntary proceedings, monetary
judgment defaults in excess of specified amounts, cross-defaults to certain
other agreements, change of control, and ERISA defaults.&nbsp; If an event of default
occurs and is continuing, the commitments under the Credit Agreement may be
terminated and the principal amount and all accrued but unpaid interest and
other amounts owed thereunder may be declared immediately due and payable.&nbsp; In
addition, if at any time the ratio of Mentor's total funded debt to adjusted EBITDA equals or exceeds 2.50 to 1.00, then Mentor is obligated to grant to the
Lenders a first priority perfected security interest the domestic assets of
Mentor and certain of its domestic subsidiaries, pursuant to the terms of a
Security Agreement, which is attached as Exhibit G to the Credit Agreement.</font></p>

<p><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The description set forth above is qualified by the Credit Agreement filed as
Exhibit 10.1 to this Current Report on Form 8-K and is hereby incorporated
herein by this reference. </font> </p>





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<p class=MsoNormal style='text-indent:.5in'><font face="Arial" size="2">Director's Compensation</font></p>



<p class=MsoNormal style='text-indent:.5in'><font face="Arial" size="2">On May
 26, 2005, the
Compensation Committee of the Board of Directors of Mentor Corporation (the
&quot;Company&quot;) approved a modification to the Company's compensation arrangement
for its non-employee director Chairman of the Board, Joseph E. Whitters.&nbsp; As a result of this change,
effective June 1, 2005, a non-employee director serving as
Chairman of the Board of the Company will receive a quarterly fee of $37,500,
for a total annual fee of $150,000. </font> </p>
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<p class=hdgleftbold><font face="Arial" size="2"><b>Item
9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</b>&nbsp;</font></p>

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  <p class=tableheadingleft><font face="Arial" size="2"><u>Exhibit
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  <p class=10sp10><font face="Arial" size="2">99.1&nbsp;</font></p>
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  <p class=10sp10><font face="Arial" size="2">Credit
  Agreement, dated May
   25, 2005</font></p>
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<font face="Arial" size="2"><b>&nbsp;</b></font></p>


<h4 style='line-height:normal' align="center"><font face="Arial" size="2">SIGNATURES</font></h4>



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<font face="Arial" size="2">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.</font></p>



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  <h6><font face="Arial" size="2">Mentor
  Corporation</font></h6>
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  <p class=MsoNormal><font face="Arial" size="2">Date:&nbsp; June 1, 2005</font></p>
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	<font face="Arial" size="2">By:</font></p>
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  <p class=MsoNormal><font face="Arial" size="2">&nbsp;/s/ Joshua H. Levine</font></p>
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  <p class=MsoNormal><font face="Arial" size="2">Joshua H. Levine<br>
	Chief Executive Officer</font></p>

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  &nbsp;</td>
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  <p class=MsoNormal><font face="Arial" size="2">Date:&nbsp; June 1, 2005</font></p>
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  <p class=MsoNormal><font face="Arial" size="2">&nbsp;/s/ Loren L. McFarland</font></p>
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  <p class=MsoNormal><font face="Arial" size="2">Loren L. McFarland <br>
	Chief&nbsp; Financial Officer</font></p>

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Mentor Corporation
UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, DC 20549
FORM 8‑K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of
the Securities
Exchange Act of 1934
Date of Report
(Date of earliest event reported)
May 26, 2005
MENTOR
CORPORATION
(Exact name of
registrant as specified in its charter)
Minnesota
0-7955
41-0950791
(State or
  other jurisdiction of
  incorporation)
(Commission
  File Number)
(IRS Employer
Identification No.)
201 Mentor Drive
Santa Barbara, California  93111
(Address of
principal executive offices, including zip code)
(805) 879-6000
(Registrant's
telephone number, including area code)
Not Applicable
(Former name or
former address, if changed since last report)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions:
[  ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
[  ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
[  ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01  Entry into a Material
Definitive Agreement.
Credit Agreement
On May 26, 2005, Mentor
Corporation  ("Mentor") entered into a Credit Agreement (the "Credit
Agreement") with Bank of the West, as administrative agent, swing line lender,
and letter of credit issuer (the "Administrative Agent"), Union Bank of
California, N.A., as syndication agent, Wells Fargo Bank, National Association,
as documentation agent, and certain lenders from time to time parties thereto
(the "Lenders").
The Credit Agreement
provides Mentor with a $200 million senior
revolving credit facility, subject to a $20 million sublimit for the issuance
of standby and commercial letters of credit, a $10 million sublimit for swing
line loans and $50 million alternative currency sublimit.  At the election of Mentor, the aggregate maximum principal
amount available for borrowings under the Credit Agreement may be increased by
up to an additional $50 million.  Funds under the Credit Agreement are
available to Mentor to finance permitted
acquisitions, stock repurchases up to certain dollar limitations and other general
corporate purposes.  As of the date of this Current Report, there were no
borrowings outstanding under the Credit Agreement.
Interest on borrowings
(other than swing line loans) under the Credit Agreement is at a variable rate
that is calculated, at Mentor's option, at either the prime lending
rate of the Administrative Agent (the "Prime Rate"), or LIBOR plus an
additional percentage that varies depending on Mentor's senior leverage ratio (as
defined in the Credit Agreement) at the time of the borrowing (based on Mentor's
current senior leverage ratio, this additional percentage would be 1%).  Swing line
loans bear interest at the Prime Rate.  Interest is payable by Mentor at least quarterly and on the last day of the respective interest
period for loans based on LIBOR.
In addition, Mentor paid certain fees to the Administrative Agent and the
Lenders upon entry into the Credit Agreement, and Mentor will be obligated to pay, over the
term of the Credit Agreement, an unused commitment fee based on Mentor's senior leverage ratio and the
total revolving commitments made available to Mentor by the Lenders.  Fees are
payable quarterly in arrears to the Administrative Agent for the ratable
benefit of each Lender.
Borrowings by Mentor under the Credit Agreement are
guaranteed, pursuant to the terms of a Guaranty attached as Exhibit E to the
Credit Agreement, by two of Mentor's
wholly-owned domestic subsidiaries, Mentor Texas L.P., and Mentor Minnesota,
Inc., in favor of the Administrative Agent for the benefit of the Lenders.  In
addition, borrowings under the Credit Agreement are secured by a pledge of 100%
of the outstanding capital stock of two of Mentor's wholly-owned domestic
subsidiaries, Mentor International Holdings Alpha, Inc., and Mentor
International Holdings Beta, Inc., and by 65% of the outstanding capital stock
of one of Mentor's French subsidiaries, Porges, S.A., all pursuant to the
terms and conditions of a Pledge Agreement, the form of which is attached as
Exhibit B to the Credit Agreement.
The Credit Agreement
imposes certain financial and operational restrictions on Mentor and its
subsidiaries, including financial covenants that require Mentor to maintain a
maximum consolidated funded debt leverage ratio of not greater than 4.00 to
1.00, a senior funded debt ratio of not greater than 2.50 to 1.00, minimum quarterly
EBITDA and a minimum fixed charge ratio of greater than 1.25 to 1.00.  The
covenants also restrict Mentor's ability, among other things, to make certain
investments, incur certain types of indebtedness or liens, dispose of
assets in excess of $25 million, make acquisitions in excess of $20 million (except in compliance with certain
criteria), pay dividends or repurchase shares of its common stock above specified
thresholds, and make other distributions, except in certain limited
circumstances.  The Credit Agreement also contains customary events of default,
including payment defaults, material inaccuracies in its representations and
warranties, covenant defaults, bankruptcy and involuntary proceedings, monetary
judgment defaults in excess of specified amounts, cross-defaults to certain
other agreements, change of control, and ERISA defaults.  If an event of default
occurs and is continuing, the commitments under the Credit Agreement may be
terminated and the principal amount and all accrued but unpaid interest and
other amounts owed thereunder may be declared immediately due and payable.  In
addition, if at any time the ratio of Mentor's total funded debt to adjusted EBITDA equals or exceeds 2.50 to 1.00, then Mentor is obligated to grant to the
Lenders a first priority perfected security interest the domestic assets of
Mentor and certain of its domestic subsidiaries, pursuant to the terms of a
Security Agreement, which is attached as Exhibit G to the Credit Agreement.
The description set forth above is qualified by the Credit Agreement filed as
Exhibit 10.1 to this Current Report on Form 8-K and is hereby incorporated
herein by this reference.
2
Director's Compensation
On May
 26, 2005, the
Compensation Committee of the Board of Directors of Mentor Corporation (the
"Company") approved a modification to the Company's compensation arrangement
for its non-employee director Chairman of the Board, Joseph E. Whitters.  As a result of this change,
effective June 1, 2005, a non-employee director serving as
Chairman of the Board of the Company will receive a quarterly fee of $37,500,
for a total annual fee of $150,000.
Item
9.01        Exhibits
Exhibit
  No.
Exhibit
  Title or Description
99.1
Credit
  Agreement, dated May
   25, 2005
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
Mentor
  Corporation
Date:  June 1, 2005
By:
/s/ Joshua H. Levine
Joshua H. Levine
Chief Executive Officer
Date:  June 1, 2005
By:
/s/ Loren L. McFarland
Loren L. McFarland
Chief  Financial Officer
3