Document:

EXHIBIT 10.2 - ACQUISITION AGREEMENT OF HARVEY-WESTBURY
CORP.
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                  ACQUISITION AGREEMENT OF
                    HARVEY-WESTBURY CORP.
                            BY
                       INDUSTRIES, INC.
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          This agreement and plan of acquisition (the
"Agreement") dated October 25. 1996. by and between
Harvey-Westbury Corp., a New York corporation, the address
of which is 15 Heisser Court, Farmingdale, New York 1 1738,
("H/W"), and Auxer Industries, Inc.. an Idaho corporation,
the address of which is 230 Dayton Street, Ridgewood, New
Jersey 07450 ("Auxer" or the "Acquiring Corporation") [H/W
and Auxer being herein sometimes called the "Parties" or
"Constituent Corporations"].
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I. ACQUIRING CORPORATION; CERTIFICATE OF INCORPORATION AND
   BY-LAWS; BOARD OF DIRECTORS; OFFICERS.
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     1.01 Acquiring Corporation.
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     The corporation which shall be the acquiring
corporation is Auxer.
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     1.02 Certificate of Incorporation and By-laws.
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          The certificate of incorporation, as amended, and
the by-laws of Auxer as contained in Attachment "A" are in
effect at the date of the Agreement are the certificate of
incorporation and the by-laws of the Acquiring Corporation
until they are amended.
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     1.03 Board of Directors. From the date of the Agreement
until December 31, 1999, the Auxe- board of directors shall
consist of three directors.
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II. STATUS AND CONVERSION OF SECURITIES AND PROVISION FOR
    ADDITIONAL CONSIDERATION
     2.01 Shares of H/W
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          (a)     H/W Common Stock. All the shares of the
common stock of H/W (being 200 Shares) ("H/W Shares") shall
be converted into and exchanged for 170,000 shares of common
stock, of Auxer ("Auxer Shares" or "Auxer Common Stock") to
be issued to the sole shareholder of H/W, Gerald J. Harvey
("Harvey") or his designee(s). Harvey and all designee(s) or
spouses of such designees(s) which receive Auxer Shares
pursuant to this paragraph agree that they will not enter
any of the businesses in which H/W is presently involved for
a period of three years in the "tri-state" area of New York,
New Jersey and Connecticut.
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     (b)     Surrender and Exchange, of H/W Shares. Subject
to the provisions of Paragraphs 2.01 (b) and (c), each
holder of an outstanding certificate or certificates (the
"Old Certificates") therefore representing H/W Shares ("H/W
Shareholder"), upon surrender thereof shall receive in
exchange therefore a certificate or certificates (the "New
Certificates") representing the number of whole Auxer Shares
into and for which the H/W Shares therefore represented by
such surrendered Old Certificates have been converted. There
are no dividends due to holders of H/W Shares. H/W shall
provide written instructions to Auxer indicating the number
of' Auxer Shares to be issued to Harvey and/or his
designee(s). Shares not surrendered shall be marked as
canceled on the stock registry of the Company.
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     (c)        "Current Market Price Per Share" of one
share of Auxer Common Stock shall be the average closing
price of the shares of the NASD Electronic Bulletin Board
for the five trading days preceding the date of the
Agreement.
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     (d)       "Value Per Share" of one share of Auxer
Common Stock shall be one-half the Current Market Price Per
Share.
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     (e)        No certificates or scrip for fractional
Auxer Shares will be issued and no payment will be made in
respect thereof. Any fractional shares which result shall be
rounded up to the nearest whole Auxer Share. If more than
one certificate representing H/W Shares shall be
surrendered for the account of the same Shareholder. the
number of full Auxer Shares for which certificates shall be
delivered to a Shareholder shall be computed on the basis of
the aggregate number of shares represented by the
certificates surrendered by thatShareholder.
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     (f)        In the event. Harvey, during the initial six
months after the Auxer Shares received pursuant to paragraph
201(b) become publicly tradable, sells such stock in
brokerage transactions at market for an average price less
than S 1.50 per share, Auxer will, at Harvey's option,
either transfer additional shares to Harvey so that the
average sales price of all his Auxer Shares equals $1.50 per
share or pay Harvey the difference between such average
sales price and S 1.50 in cash.
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     It is understood by the Parties that the closing of the
transactions contemplated herein shall take place
simultaneously with the execution of the Agreement.
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     2.02 Additional Consideration
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     Auxer will assume and promptly pay the following
liabilities as of the date of the Agreement related to:
commission sales personnel not to exceed $37,000
accounts payable not to exceed $55,000 (of which the payment
of legal fees due Hollenberg, Levin et al of $3,362.50 will
be paid simultaneously with the closing of the transactions
contemplated by the Agreement); payroll not to exceed
$5,500; and landlord not to exceed $5,900.
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     In the event Auxer pays liabilities of H/W which equal
these limits for any group of creditors for accounts payable
only, Harvey will assume any additional liabilities to that
group. Auxer will document all payments by statements and
canceled checks.
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III. COVENANTS
     3.01 Covenants of Auxer
          Auxer covenants, that:
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      (a)        Certificate of Incorporation. No amendment,
change of state of incorporation or other change has been
made in the certificate of incorporation of Auxer as
attached to the Agreement.
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      (b)        Securities. There are 8,079,929 Shares
outstanding.
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      (c)        Dividends and Purchases of Stock. No
dividend, distribution or stock split or recapitalization
has been authorized, declared, paid or effected by Auxer in
respect of the outstanding Auxer Shares.
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      (d)       Borrowing Money. Auxer has not borrowed,
guaranteed the borrowing of money.  engaged in any
transaction or entered into any material agreement, except
in the ordinary course of business.
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      (e)        Access. Auxer has afforded the officers,
directors, employees, counsel, agents, investment bankers,
accountants and other representatives of H/W free and full
access to the proper ties, books and records of Auxer, has
permitted them to make extracts from and copies of
such books and records and has furnished H/W with such
additional financial and operating data and other
information as to the financial condition, results or
operations.  business, properties. assets, liabilities or
future prospects of Auxer as H/W from time to
time has requested.
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      (f)        Confidentiality. Auxer insures that, for a
period of six months from the date of the Agreement, all
confidential information which Auxer or any of its officers,
directors, employees, counsel, agents, investment barkers,
or accountants may now possess or create or obtain relating
to the financial condition, results of operations, business
properties, assets.  liabilities, or future prospects of
H/W, any affiliate or any customer or supplier of H/W
shall not be published, disclosed, or made accessible to any
other person or entity at any time in each case without the
prior consent of Harvey subject to paragraphs 3.01 (g) and
(h).
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     (g)       Public Statements. Before Auxer releases any
information concerning the Agreement. or any of the other
transactions contemplated by the Agreement which is intended
or may result in public dissemination thereof, Auxer, for a
period of six months from the date of the Agreement, shall
cooperate with Harvey, shall furnish drafts of all documents
or proposed oral statements to Harvey for comments, and
shall not release any such information without the written
consent of Harvey. Nothing contained herein shall prevent
Auxer from releasing any information if required to do so by
federal or state securities law.
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     (h)      Material for Registration Statement. Auxer
represents that any future filings to be made by it with the
Securities and Exchange Commission ("SEC") will be prepared
in accordance with the then existing requirements of the
Securities Act of 1933 (the "Securities Act"), and/or the
Securities Exchange Act of 1934 (the "Securities Exchange
Act") and the rules and regulations thereunder. Auxer shall
furnish or cause to be furnished, for inclusion in any
registration statement required to be filed with the SEC
covering the Acquisition, information about Auxer or Auxer's
security holders as may be required and shall continue to
furnish or cause to be furnished such information for the
purposes of supplementing any such proxy statement or
amending any registration statement.
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     (i)          Indemnification. Auxer agrees to indemnify
and hold harmless H/W and its present officers, directors,
employees, agents and counsel and each person who controls
H. W within the meaning of Section 15 of the Securities Act
of Section 20(a) or the Securities Exchange Act and if the
Acquisition is abandoned or terminated, except solely as a
result of a breach of the Agreement by H/W and/or Harvey,
against any and all losses, liabilities, claims, damages and
expenses whatsoever, including attorneys' fees and expenses,
as and when incurred arising out of, based upon or in
connection with any untrue statement or alleged untrue
statement of a material fact relating to and supplied by
Auxer contained in any post-effective registration
statement, proxy statement or any amendment
or supplement thereto or any application or other document
or communication filed in any jurisdiction under the
"blue-sky," securities, or takeover laws thereof or filed
with the SEC. The foregoing agreement to indemnify shall be
in addition to any liability Auxer may otherwise have,
including liabilities arising under the Agreement.
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     3.02 Covenants of H/W From the Date of the Agreement
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     (a)        Certificate of Incorporation and By-laws. No
amendment has been made in the certificate of incorporation
or by-laws of H/W other than as attached hereto as
Attachment "B".
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     (b)        Dividends and Purchases of Stock. No
dividend, distribution or stock split or recapitalization
has been authorized, declared, paid or effected by H/W in
respect of the outstanding H/W Shares.
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     (c)        Borrowing Money. H/W has not borrowed,
guaranteed the borrowing of money, engaged in any
transaction or entered into any material agreement, except
in the ordinary course of business as disclosed in the
financial statements delivered to Auxer.
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     (d)        Access. H/W has afforded the officers,
directors, employees, counsel, agents, investment bankers,
accountants and other representatives of Auxer and lenders,
investors and prospective lenders and investors free and
full access to the properties, books and records of H/W and
has permitted them to make extracts from and copies of such
books and records, and will from time to time furnish Auxer
with such additional financial and operating data and other
information as to the financial condition, results or
operations, business, properties, assets, liabilities or
future prospects of H/W as Auxer from time to time has
requested. H/W will cause the independent certified public
accountants of H/W to make available to Auxer and its
independent certified public accountants all work
papers relating to H/W referred to herein.
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     (e)        Conduct of Business. H/W has used reasonable
efforts to preserve the business operations of H/W intact,
to keep available the services of is present personnel, to
preserve in full force and effect the contracts, agreements,
instruments, leases, licenses, arrangements and
understandings of H/W and to preserve the good will to
others having business relations with it.
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     (f)        Advice of Changes. H/W has advised Auxer of
any fact or occurrence or any pending or threatened
occurrence of which it obtains knowledge and (i) which,
would make the performance by any party of a covenant
contained in the Agreement impossible or make such
performance materially more difficult than in the absence of
such fact or occurrence or (ii) which would cause a
condition to any party's obligation under the Agreement not
to be fully satisfied.
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     (g)        Confidentialirv. H/W shall insure that all
confidential information which H/W or any of its officers,
directors, employees, counsel, agents, investment bankers,
or accountants may now possess or may hereafter create or
obtain relating to the financial condition, results of
operations, business properties, assets, liabilities, or
future prospects of Auxer, or any affiliate shall not be
published, disclosed, or made accessible to any other person
or entity at any time or used in the business and for the
benefit of H/W in each case without the prior written
consent of Auxer.
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     (h)         Public Statements. Before the present
officers or ,directors of H/W release any information
concerning the Agreement, or any of the other transactions
contemplated by the Agreement which is intended for or may
result in public dissemination thereof, they shall
cooperate with Auxer, shall furnish drafts of all documents
or proposed oral statements to Auxer for comments, and shall
not release any such information without the written
consent of Auxer. Nothing contained herein shall prevent H/W
from releasing any information if required to do so by law.
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     (i)         Material for Registration Statement. In the
event Auxer files a registration statement with the SEC,
Harvey will provide such information relating to H/W as may
be required which he can obtain without unreasonable effort
or more than nominal cost.
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     (j)        Indemnification. HAW agrees to indemnify
Auxer and its officers, directors, employees, agents and
counsel against any and all losses, liabilities, claims,
damages and expenses whatsoever, including counsel's fees
and expenses as and when incurred arising out of, based upon
or in connection with representations which induced Auxer to
enter into the Agreement.
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     (k)     Capitalization. H/W's capital structure
consists of 1,000 shares of common stock without par value
of which 200 shares are issued and outstanding. Each
outstanding share is validly authorized, validly issued,
fully paid and, nonassessable, has not been issued and
is not owned or held in violation of any preemptive right of
shareholders.
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     IV. REPRESENTATIONS AND WARRANTIES
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     4.01 Certain Representations and Warranties of Auxer
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     Auxer represents and warrants to H/W as follows:
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     (a)     Organization and Qualification. Auxer is
validly existing and in good standing and has authority to
own, lease, license and use its properties and assets and to
carry business in which it is now engaged and will continue
to be duly qualified.
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     (b)     Capitalization. Auxer's capital structure
consists of 50,000,000 shares of common stock $.001 par
value per share of which 8,092,929 shares are issued and
outstanding. Each outstanding Auxer Share is validly
authorized, validly issued, fully paid and, nonassessable,
has not been issued and is not owned or held in violation of
any preemptive right of shareholders.
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     (c)    Financial Condition. Auxer has delivered to H/W
true and correct copies of its financial statements. The
financial statements have been prepared in accordance with
generally accepted accounting principles consistently
applied throughout the periods involved and are in
accordance with the books and records of Auxer. Since the
date of the financial statements:
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            i.        There has at no time been a material
undisclosed adverse change in the financial condition of
Auxer.
            ii.       Auxer has not declared, paid or
effected any dividend or liquidating or other distribution
in respect of its shares of common stock or any direct or
indirect redemption, purchase, or other acquisition of any
Auxer Shares.
            iii.      The operations and business of Auxer
have been conducted in all respects only in the ordinary
course.
            iv.        Auxer has not suffered an
extraordinary loss not disclosed in its financial statements
(whether or not covered by insurance) or waived any right of
substantial value.
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     There is no fact known to Auxer which materially
adversely affects or in the future (as far as Auxer can
foresee) may materially adversely affect the financial
condition, results of operations, business, properties,
assets, liabilities, or future prospects of Auxer.
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     (d)      Tax and Other Liabilities. Auxer has no
undisclosed liability of any nature, accrued or
contingent, including without limitation liabilities for
federal, state or local taxes and liabilities.
     (e)      Litigation and Claims. There is no undisclosed
litigation, arbitration, claim, governmental or other
proceeding (formal or informal) or investigation pending,
threatened or in prospect (or any basis therefor known to
Auxer) with respect to Auxer or its business or assets.
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     (f)     Properties. Auxer has title to or has leased
the real and personal property as set forth in the financial
statements.
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     (g)    Patent,. Trademarks, Etc. Auxer's ownership or
patents. trademarks or any other intellectual property is as
listed on its financial statements.
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     (h)     Authoritv to Enter and Perform the Agreement.
Auxer has all requisite power and authority to execute,
deliver and perform the Agreement. All necessary corporate
proceedings of Auxer have been duly taken to authorize the
execution, delivery and performance of the Agreement by
Auxer, other than approval of the holders of Auxer Shares.
The Agreement constitutes the legal, valid and binding
obligation of Auxer and is enforceable as to it in
accordance with its terms and no consent, authorization,
approval, order, license, certificate of or from, or
declaration or filing with any federal, state, local or
other government authority or any court or other tribunal is
required by Auxer.
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     (i)     Auxer warrants that in the event it files a
registration statement with the SEC, it will include on a
"piggy-back" basis the Auxer Shares issued to Harvey and/or
designee(s) pursuant to Paragraph 201 (a) of the Agreement
at no cost to Harvey except underwriter's commissions, if
any.
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     4.02 Certain Representations and Warranties of H/VI/
H/W represents and warrants to Auxer as follows:
<P>
     (a)        Organization and Qualification. H/W has no
subsidiaries. H/W is a corporation duly organized, validly
existing and in good standing under the laws of The State of
New York with all requisite power and authority and all
necessary consents, authorization, approvals, orders,
licenses, certificates and permits of and from, and
declarations and filings with, all federal, state, local and
other governmental authorities to own, lease, license and
use its properties and assets and to carry on the business
in which it is now engaged and the business in which it
contemplates engaging. H/W is duly qualified to transact the
business in which it is engaged and is in good standing as a
foreign corporation in every jurisdiction in which its
ownership, leasing, licensing, or use of property or assets
or the conduct of its business makes such qualification
necessary.
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     (b)       Capitalization. Each of the outstanding H/W
Shares is validly authorized, validly issued, fully paid
and, nonassessable, has not been issued and is not owned or
held in violation of any preemptive right of shareholders.
The names of stockholders and the number of shares held by
each are listed on Attachment "C."
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     (c)        Financial Condition. H/W has delivered to
Auxer true and correct copies of its unaudited financial
statements for the years ended December 31, 1994 and 1995
and for the eight months ended August 31, 1996 and a list of
all receivables and payables as of August 31, 1996 and a
schedule of inventory as of that date. Since the date of the
financial statements:
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          i. There has at no time been a material adverse
change in the financial condition of H/W.
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          ii. H/W has not authorized. declared, paid or
effected any dividend or liquidating or other distribution
in respect of its shares of common stock or any direct or
indirect redemption, purchase, or other acquisition of any
H/W shares of common stock. All accrued but unpaid dividends
have been waived by the H/W shareholders entitled to receive
such dividends in connection with the Agreement.
          iii. H/W has not suffered an extraordinary loss
(whether or not covered by insurance) or waived  any right
of substantial value.
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     There is no fact known to H/W which materially
adversely affects the financial condition, results of
operations, business, properties, assets, liabilities, or
future prospects of H/W.
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     (d)        Tax and Other Liabilities. H/W has no
undisclosed liability of any nature, accrued or contingent,
including without limitation liabilities for federal, state
or local taxes and liabilities to customers or suppliers,
other than the following:
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          i.     Liabilities for which full provision has
been made on the financial statements of H/W
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          ii.     Other liabilities arising since the last
H/W financial statement in the ordinary course of business.
     Without limiting the generality of the foregoing, the
amounts set up as provision for taxes on the last H/W
financial statement are sufficient for all accrued and
unpaid taxes of H/W.
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     (e)     Litigation and Claims. There is no litigation,
arbitration, claim, governmental or other proceeding (formal
or informal) or investigation pending, threatened or in
prospect which adversely impact H/W or its business or
assets.
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     (f)     Properties. H/W has good and marketable title
to all property and assets used in its business or owned by
it, as listed on its financial statements. The real and
other properties and assets (including intangibles) leased
or licensed by H/W constitute all such properties
and assets which are necessary to the business of H/W as
presently conducted.
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     (g)     Contracts and Other Instruments. H/W has made
available to Auxer through the financial statements or
otherwise in writing, all contracts, agreements, leases,
instruments, licenses, arrangements or understandings with
respect to H/W, listed on its financial statements
and otherwise. H/W is not a party nor is it bound by any
contract, agreement, instrument, lease, license,
arrangement, or understanding which may, in the future, have
a material adverse effect on the financial condition,
results of operations, business, properties, assets,
liabilities or future prospects of H/W.
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     (h)     Patents, Trademarks, Etc. H/W's ownership of
patents, trademarks or any other intellectual property (if
any) is listed on its financial statements.
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     (i)     Authority to Enter into and Perform the
Agreement. H/W has all requisite power and authority to
execute, deliver and perform the Agreement. All necessary
corporate proceedings of H/W have been duly taken to
authorize the execution, delivery and performance of the
Agreement by H/W, other than approval of the holders of H/W
Common Stock. The Agreement constitutes the legal, valid and
binding obligation of H/W and is enforceable as to it in
accordance with its terms and no consent, authorization,
approval, order, license, certificate or permit of or from,
or declaration or filing with any federal, state, local or
other government authority or any court or other tribunal is
required by H/W.
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V. ABANDONMENT AND TERMINATION
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     5.01 Right of H/W to Abandon.
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     H/W's Board of Directors shall have the right to
abandon or terminate the Acquisition if any of the following
shall not be true.
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     (a)     Accuracy of Representations and Compliance with
Conditions. All representations and warranties of Auxer
contained in the Agreement shall be accurate regardless of
knowledge or lack thereof on the part of Auxer or changes
beyond its control; Auxer shall have performed and complied
with all covenants and agreements and satisfied all
conditions required to be performed and complied with by it
by the Agreement; and H/W shall have received a certificate
executed by the chief executive officer and the chief
financial officer of Auxer dated this date to that effect,
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     (b)         Opinion of Auxer's Counsel. H/W shall have
received a letter of Auxer's Counsel, in form and substance
satisfactory to H/W and its counsel, to the effect that:
<P>
          i.        Auxer is an Idaho corporation validly
existing and in good standing with all requisite corporate
power and authority to own, lease, license and use its
properties and assets and to carry on the business in which
it is now engaged;
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          ii.       Auxer is and will be duly qualified to
transact the business in which it is engaged and is not
required to register to do business in any other
jurisdiction;
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          iii.     The authorized and outstanding capital
stock of Auxer is as set forth in the Agreement and all the
outstanding shares of the capital stock of Auxer are validly
authorized, validly issued, fully paid and nonassessable;
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          iv.     All necessary corporate proceedings of
Auxer have been duly taken to authorize the execution,
delivery and performance of the Agreement by Auxer;
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          v.       Auxer has all requisite corporate power
and authority to execute, deliver and perform the Agreement
and the Agreement has been duly authorized, executed
and delivered by Auxer, constitutes the legal, valid and
binding obligation of Auxer, and (subject to applicable
bankruptcy, insolvency and other laws affect-
ing the enforceability of creditors' rights generally) is
enforceable as to Auxer in accordance with its terms;
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          vi.     The execution, delivery and performance of
the Agreement by Auxer will not violate or result in a
breach of any term of Auxer's certificate of incorporation
or of its by-laws or violate, result in a breach of,
conflict with, or (with or without the giving of notice or
the passage of time or both) entitle any party to terminate
or call a default under, entitle any party to rights or
privileges that did not exist immediately before the
Agreement was executed under, or create any obligation on
the part of Auxer under the terms of any agreement that did
not exist immediately before the Agreement was executed;
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          vii.     After reasonable investigation, Counsel
has no actual knowledge of any consent, authorization,
approval, order, license, certificate or permit of or from
or declaration or filing with any federal, state, local or
other governmental authority or any court or other tribunal
which is required of Auxer for the execution, delivery or
performance of the Agreement by Auxer.
<P>
          viii.     After reasonable investigation, Counsel
has no actual knowledge of any litigation, arbitration,
government or other proceeding (formal or informal over and
above the disclosure contained in the financial statements),
or investigation pending or threatened with respect to Auxer
or any of its businesses, properties or assets than can
reasonably be expected to result in any materially adverse
change in the financial condition-, results of operations,
business, properties, assets, liabilities or future
prospects of Auxer or seeks to prohibit or otherwise
challenge the Agreement or the consummation of the
Acquisition or any of the other transactions contemplated
hereby or to obtain substantial damages with . respect
thereto, except as disclosed in the Agreement.
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     5.02 Right of Auxer to Abandon.
<P>
     Auxer's Board of Directors shall have the right to
abandon or terminate the Acquisition if any of the following
shall not be true.
<P>
     (a)          Accuracy of Representations and Compliance
with Conditions. All representations and warranties of H/W
contained in the Agreement shall be accurate when made and
H/W shall have performed and complied with all covenants and
agreements and satisfied all conditions required to be
performed and complied with by it by the Agreement; and
Auxer shall have received a certificate executed by the
chief executive officer and the chief financial officer of
H/W dated the date of the Agreement to that effect.
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     (b)         Certificate of the President of H/W. Auxer
shall receive a certificate of the Chairman of the Board and
Sole Stockholder of H/W in' form and substance satisfactory
to Auxer and its counsel, to the effect that:
<P>
     i.        H/W is a corporation validly existing and in
good standing under the laws of the State of New York with
all requisite corporate power and authority to own,
lease, license and use its properties and assets and to
carry on the business in which it is now engaged.
<P>
     ii.       H/W is qualified to transact the business in
which it is engaged and is registered as a foreign
corporation in all jurisdictions in which it does business.
<P>
     iii.     The authorized and outstanding capital stock
of H/W is as set forth in the Agreement and all the
outstanding shares of the capital stock of H/W are validly
authorized, validly issued, fully paid and nonassessable;
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     iv.     All necessary corporate proceedings of H/W have
been duly taken to authorize the execution, delivery and
performance of the Agreement by H/W;
<P>
     v.       H/W has all requisite corporate power and
authority to execute, deliver and perform the Agreement and
the Agreement has been duly authorized, executed
and delivered by H/W, constitutes the legal, valid and
binding obligation of H/W, and (subject to applicable
bankruptcy, insolvency and other laws affecting the
enforceability of creditors' rights generally) is
enforceable as to H/W in accordance with its terms;
<P>
     vi.     The execution, delivery and performance of the
Agreement by H/W will not violate or result in a breach of
any term of H/W's certificate of incorporation or of its
by-laws or violate, result in a breach of, conflict with, or
(with or without the giving of notice or the passage of time
or both) entitle any party to terminate or call a default
under, entitle any party to rights or privileges that did
not exist immediately before the Agreement was executed
under, or create any obligation on the part of H/W under the
terms of any agreement that did not exist immediately before
the Agreement was executed;
<P>
     vii.     He has no actual knowledge of any consent,
authorization, approval, order, license, certificate or
permit of or from or declaration or filing with any federal,
state, local or other governmental authority or any court or
other tribunal which is required of H/W for the execution,
delivery or performance of the Agreement by WW.
<P>
     viii.     He has no actual knowledge of any litigation,
arbitration, government or other proceeding (formal or
informal), or investigation pending or threatened with
respect to H/W or any of its businesses, properties or
assets than can reasonably be expected to result in any
materially adverse change in the financial condition,
results of operations, business, properties, assets,
liabilities or future prospects of H/W or seeks to prohibit
or otherwise challenge the Agreement or the consummation of
the Acquisition or any of the other transactions
contemplated hereby or to obtain substantial damages with
respect thereto, except as disclosed in the Agreement.
<P>
     VI. MISCELLANEOUS.
<P>
     6.01 Further Actions
<P>
          At any time and from time to time, each Party
agrees, at its expense, to take such actions and to execute
and deliver such documents as may be reasonably necessary to
effectuate the purposes of the Agreement.
<P>
      6.02 Availability of Equitable Remedies
<P>
          Since a breach of the provisions of the Agreement
could not adequately be compensated by money damages, either
Party shall be entitled, in addition to any other right or
remedy available to it, to an injunction restraining such
breach or threatened breach and to specific performance of
any such provision of the Agreement, and, in either case, no
bond or other security shall be required in connection
therewith, and the Parties hereby consent to the issuance of
such an injunction and to the ordering of specific
performance.
<P>
       6.03 Modification
<P>
          The Agreement sets forth the entire understanding
of the Parties with respect to the subject matter hereof.
The Agreement may be amended by a written instrument
executed by H/W and Auxer with the approval of their
respective Boards of Directors. A change in the number of
shares issued or the number and exercise price of options
due to a stock split or recapitalization of Auxer ratably
affecting all its stockholders and option holders will not
be construed as a modification of the Agreement.
<P>
       6.04 Notices
<P>
     Any notice or other communication required or permitted
to be given hereunder shall be in writing and shall be
mailed by certified mail, return receipt requested or
overnight delivery or courier service or delivered in person
or by facsimile against receipt to the Party to whom it is
to be given at the address of such Party set forth in the
preamble to the Agreement (or to such other address (or
facsimile telephone number) as the party shall have
furnished in writing to the other Party. Any notice shall be
addressed to the attention of the Corporate Secretary.EXHIBIT 10.3 - CARQUEST PRODUCTS, INC. LICENSE AGREEMENT
--------------------------------------------------------
<P>
                      AGREEMENT
<P>
          THIS AGREEMENT (the "Agreement") is made and entered
into this 10th  day of October  1998, by and between CARQUEST
Products, Inc., a corporation organized and existing under the
laws of the state of North Carolina (the "Company"), and
Harvey Westbury, a corporation organized and existing under
the laws of the state of ________ (the "Supplier").
<P>
                      BACKGROUND
<P>
          The Company is licensed by The CARQUEST Corporation
("CARQUEST Corp.*) to use and to grant licenses to use certain
trademarks owned by CARQUEST Corp. The Company has developed
and will continue to develop a program identified by such
marks to assist its Members (the "Members") and their
customers in the promotion,
marketing, distribution and sales of quality automotive parts,
supplies, accessories, and equipment. Each Member is a
wholesale distributor of automotive replacement parts.
The Company desires by this Agreement to permit the Supplier
to use the trademark CARQUEST, as shown on Exhibit, A hereto
on certain automotive parts to be produced  packaged by the
Supplier for the Company and/or one or more Members.
<P>
     NOW, THEREFORE, in consideration of the premises and the
mutual covenant and agreements herein contained, and other
good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and Supplier
agree as follows:
<P>
                         SECTION 1
                          License
<P>
          1.1 Grant of License. Subject to the terms and
conditions of the Agreement the Company hereby grants to the
Supplier the non-exclusive, nontransferable license and right
to use the mark "CARQUEST" and design, on merchandise items
approved by the Company (the "Products") to be manufactured,
sold or otherwise provided by the Supplier to the Company
and/or Members. This license and right shall continue with
respect to Supplier until the termination of the Agreement
pursuant to the terms hereof.
<P>
          1.2 Ownership of Mark and Design. The Supplier
acknowledges The CARQUEST Corporation's exclusive right, tide
and interest in and to the mark "CARQUEST" and design; and the
Supplier shall not at any time do or cause to be done any act
or thing contesting or in any way impairing or tending to
impair any part of such right, title, and interest.
<P>
          The Supplier acknowledges the Company's exclusive
right, title and interest in and to the mark "CARQUEST" and
design, and the rights of The CARQUEST Corporation, which are
licensed for purposes of this Agreement to the Company to the
marks
<P>
"CARQUEST", and the Supplier shall not at any time do or cause
to be done any act or thing contesting or in any way impairing
or tending to impair any part of such rights, title and
interest.
<P>
     1.3 Rules, Regulations and Policies. The Supplier agrees
to comply with such reasonable rules, regulations and policies
as may from time to time be adopted and established by the
Company with respect to the use of "CARQUEST", in the sale of
the Products by the Supplier to the Company or to any Member.
<P>
     1.4     Adverse Claims. The Supplier shall immediately
notify the Company in writing of any adverse claim made
against it with respect to the use of "CARQUEST".
<P>
     1.5     Assignment and Use. The Supplier may not sell,
transfer, assign or sublicense its license and right to use
"CARQUEST".
<P>
                      SECTION 2
           Additional Obligations of Supplier
<P>
          2.1 Insurance. The Supplier represents, warrants and
agrees that it shall at all times during the continuation of
this Agreement maintain in full force and effect product
liability insurance in a minimum amount of one million dollars
($1,000,000) covering the Products. Such insurance shall
protect the interest of the Company, The CARQUEST Corporation,
and Members. Such insurance shall name as insureds, either
directly or by way of endorsement, the Company, The CARQUEST
Corporation, and Members. In addition, the Supplier, upon the
Company's request, agrees to furnish evidence of such
insurance to the Company.
<P>
     2.2 Patent Specifications, Other Rules and Laws. The
Supplier represents, warrants, and agrees that it has not and
will not misappropriate or infringe upon the intellectual
property ('Including, without limitation, copyrights, patent
rights and trade secrets) of others in connection with the
manufacture and sale of the Products. The Supplier further
represents, warrants and agrees that the Products will comply
with all applicable laws, ordinances, rules, arid regulations,
either state, federal or local. The Supplier shall provide any
and all information needed by the Company to comply with all
applicable law ordinances, rules and regulations, either
state, federal or local. This information will include, but
not be limited to, the lawful handling, storage,
transportation and sale of the Products.
<P>
          2.3     Quality of Products. The Supplier
represents, warrants and agrees that the Products will be
merchantable and fit for the purpose or purposes intended.
<P>
          2.4 Indemnification. (a) The Supplier shall
indemnify and hold harmless the Company and each Member
against any and all liabilities, losses, damages, costs, and
expenses, including court costs and reasonable attorney's
fees, that the Company or any Member may incur or sustain by
reason of any claim, demand, legal actions or judgment
based upon or arising out of (i) any alleged or actual
misappropriation or infringement by the Supplier of the trade
secrets, patent rights, trademarks, copyrights or other
industrial property rights of others in connection with the
Supplier's manufacture and/or sale of the Products, or (ii)
any alleged or actual defects of any kind in the design,
manufacture, preparation, or handling of the Products;
provided that the Supplier shall not be liable for the gross
negligence or willful misconduct of the Company or any Member.
The Supplier agrees to defend any action, suit, or proceeding
brought against the Company or any Member insofar as such
action, suit, or proceeding is based upon or arises out of the
matters referred to in this section 2.4(a); provided that,
upon the Supplier's assumption of such defense, the Supplier
shall not be liable for any attorney's fees of the Company or
any Member. The Company or any Member claiming indemnification
hereunder shall provide prompt notice to the Supplier of any
claim, demand or legal action in respect of which
indemnification may be claimed; provided that the failure to
provide such notice shall not release the Supplier for any
liability except and solely to the extent that the Supplier is
materially prejudiced by such failure. The Supplier shall not
be liable for any settlement without its prior written
consent.
<P>
          (b)      The Company shall indemnify and hold
harmless the Supplier against any and all liabilities, losses,
damages, costs, and expenses, including court costs - and
reasonable attorneys fees, that the Supplier may incur or
sustain by reason of any claim, demand, legal actions or
judgment based upon or arising out of any alleged or actual
infringement of the trademarks, copyrights or other industrial
property rights of others in connection with the Supplier's
use of the "CARQUEST" trademark and design in accordance with
this went; provided that the Company shall not be liable for
the gross negligence or willful misconduct of the Supplier.
The Company agrees to defend any action, suit, or proceeding
brought against the Supplier insofar as such action, suit or
proceeding is based upon or arising out of the matters
referred to in this section 2.4(b); provided that, upon the
Company's assumption of such defense, the Company shall not be
liable for any attorney's fees of the Supplier. The Supplier
shall provide prompt notice to the Company of any claim,
demand or legal action in respect of which indemnification may
be claimed; rovi ell that the failure to provide such notice
shall not release the Company from any liability except and
solely to the extent that the Company is materially prejudiced
by such failure. The Company shall not be liable for any
settlement without its prior written consent.
<P>
          2.5 Miscellaneous. The Supplier agrees that it shall
not produce and/or sell any Products or any other product or
products under the mark "CARQUEST" and design, except to the
Company or to a Member. The Supplier further agrees that it
will not adopt or use any word or mark that is likely to be
similar to or confusing with the mark "CARQUEST" and design,
or on any products that it supplies to other companies,
including, but not limited to, the use of any reproduction,
counterfeit copy, or colorable imitation of the designation of
"CARQUEST", or in any sale, offering for sale or advertising
of any such products.
<P>
                        SECTION 3
                        Termination
<P>
     3.1 Termination. This Agreement may be terminated by the
Company or Supplier at any time after 30 days written notice
given by the terminating party to the other party to this
Agreement.
<P>
     3.2 Effect of Termination. Upon termination of this
Agreement, the Supplier shall immediately (i) pay to the
Company the full amount, if any, which it then owes to the
Company under this Agreement, (ii) discontinue all use of
"CARQUEST" as a trademark, service mark, or trade name on the
Products, and (iii) refrain from doing any acts, whether or
not specified above, which would indicate that the Supplier is
or was authorized to use the mark "CARQUEST" and design on the
Products; provided, however. that notwithstanding the
termination of the Agreement, the Supplier shall have the
right and license to use "CARQUEST" to the extent permitted by
any other agreements with the Company and any Member unless
such other agreements are also terminated. Upon termination of
this Agreement, the Company shall immediately (i) pay to the
Supplier the full amount, if any, which the Company then owes
to the Supplier pursuant to this Agreement, and (ii) purchase
from the Supplier all Products ordered by the Company from the
Supplier in containers bearing the mark "CARQUEST" and design,
provided, however. the Supplier acknowledges and agrees that
the Company shall not be responsible for and by executing this
Agreement has not and is not guaranteeing the obligations of
any Member to the Supplier for Products purchased or ordered
from the Supplier by any Member.
<P>
          3.3 Termination Costs. Upon termination of this
Agreement, the Supplier agrees to reimburse the Company for
all costs and expenses incurred by it, including attorney's
fees, as a result of the Supplier's failure or refusal to
comply with the terms of section 3.2 above or with any other
terms and conditions of this Agreement. Upon termination of
this Agreement, the Company agrees to reimburse the Supplier
for all costs and expenses incurred by it, including
attorney's fees, as a result of the Company's failure or
refusal to comply with the terms of section 3.2 above or with
any other terms and conditions of the Agreement.
<P>
                         SECTION 4
                       Miscellaneous
<P>
          4.1 Specific Performance. The parties hereby declare
that it is impossible to measure in money the damages that
will accrue to a party to the Agreement by reason of the
failure of any party to perform any of its obligations under
this Agreement. Accordingly, if a party to this Agreement
shall institute any actions or proceedings to enforce the
provisions of this Agreement, any party against whom such
action or proceeding is brought hereby waives the claim or
defense therein that such party has an adequate remedy at law,
and such party shall not urge in any such action or proceeding
the claim or defense that however, shall not prevent any party
from seeking a remedy at law for any breach of this Agreement.
<P>
     4.2 Notice. Any and all notices, offers, acceptances, or
any other communication provided for in this Agreement shall
be given in writing by personal delivery by registered or
certified mail which shall be addressed to the address set
forth below for each party or such other address as may be
designated by any party by notice given to the other parties
hereto.
<P>
     4.3 Separability of Provisions. The invalidity or
unenforceability of any particular provision of the Agreement
shall not affect the other provisions of this Agreement, and
this Agreement shall be construed in all respects as if such
invalid or unenforceable provision were omitted.
<P>
     4.4 Entire Agreement; Modifications. This Agreement
constitutes the entire understanding between the parties with
respect to the subject matter hereof and shall
supersede any prior agreements and understandings between the
parties with respect to subject-matter. This Agreement may not
be modified or amended except in writing signed
by each of the parties hereto. This Agreement shall not be
modified or amended -W-the terms of any purchase order,
acknowledgment or confirmation of sale; `or other similar
documents issued by the Company, the Supplier, or any Member
in connection with the purchase or sale of the Products.
<P>
     4.5 Benefits. All of the terms, covenants, agreements and
conditions contained in this Agreement shall be binding upon
and inure to the benefit of all parties hereto, and their
respective successors, assigns and legal representatives,
unless prohibited in this Agreement.
<P>
     4.6 Governing Law. This Agreement shall be governed by
and construed and enforced in accordance with the laws of the
State of Indiana.
<P>
          IN WITNESS WHEREOF, the parties hereto have duly
executed this Agreement as of the day and year first above
written.
<P>
                              CARQUEST Products, Inc.
<P>
                              By (s) MikeLowe
                              ----------------
                              Title: Product manager
<P>
                              299 E. County Road 300 S.
                              New Castle, IN 47362
<P>
                              SUPPLIER
                              Harvey Westbury Corp.
<P>
                              By: (s) Ronald M. Shaver
                              ------------------------
                              Title:  President
                              Address:  30 Galesi Dr.,
                              Wayne, NJ 07470

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