Document:

EXHIBIT 4.22

                                                                      W-200400-1

THE WARRANTS  REPRESENTED BY THIS  CERTIFICATE AND THE SECURITIES  ISSUABLE UPON
EXERCISE  THEREOF HAVE NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS
AMENDED  (THE  "ACT"),  AND MAY NOT BE OFFERED OR SOLD EXCEPT (I) PURSUANT TO AN
EFFECTIVE  REGISTRATION  STATEMENT UNDER THE ACT, (II) TO THE EXTENT APPLICABLE,
PURSUANT TO RULES 701 AND 144 UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT
RELATING TO THE  DISPOSITION OF  SECURITIES),  OR (III) UPON THE DELIVERY BY THE
HOLDER TO THE  COMPANY OF AN  OPINION OF  COUNSEL,  REASONABLY  SATISFACTORY  TO
COUNSEL FOR THE ISSUER,  STATING THAT AN EXEMPTION FROM REGISTRATION  UNDER SUCH
ACT IS AVAILABLE.  THE HOLDER HEREOF MAY NOT ENGAGE IN HEDGING TRANSACTIONS WITH
REGARD TO SUCH SECURITIES UNLESS IN COMPLIANCE WITH THE ACT.

THE  TRANSFER OR EXCHANGE OF THE WARRANTS  REPRESENTED  BY THIS  CERTIFICATE  IS
RESTRICTED IN ACCORDANCE HEREWITH.

                            Warrant to Purchase up to
                          15,000 Shares of Common Stock
                              of The RiceX Company

         WHEREAS, The RiceX Company, a Delaware corporation (the "Company"),
issues to Neil J. Clendeninn ("Individual") a Warrant to purchase an aggregate
of 15,000 shares of Common Stock of the Company ("Common Stock") in
consideration for serving as an advisor to the now current CEO of The RiceX
Company hence member of The RiceX Company Global Advisory Council for a period
of one year or for as long as the now current CEO remains in office, whichever
is less, and

         WHEREAS, The RiceX Company may refer to members of the RiceX Global
Advisory Council on the Company webpage, in web and print publications, and in
the general course of business from time to time,

         NOW, THEREFORE, the Company and Individual agree as follows:

                  1.       GRANT. On the terms and subject to the conditions set
forth herein, Individual is hereby granted the right to purchase, at any time
during the Exercise Period (as hereinafter defined), up to 15,000 shares of
Common Stock (the "Warrant Shares") of the Company at the Exercise Price (as
defined below and as subject to adjustment as provided in Article 5 hereof).

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                  2.       EXERCISE OF WARRANT.

                           2.1      EXERCISE PERIOD. This Warrant is exercisable
at any time during the three (3) year period commencing on the date hereof (the
"Exercise Period").

                           2.2      CASH EXERCISE. The Warrant is exercisable at
a price of per Warrant Share equal to the Exercise Price (as hereinafter
defined) payable in cash or by check to the order of the Company, or any
combination of cash or check, subject to adjustment as provided in Article 5
hereof. Upon surrender of this Warrant with the annexed Form of Election to
Purchase duly executed, together with payment of the Exercise Price for the
Warrant Shares purchased, at the Company's principal offices, Individual (or
other registered holder of this Warrant (the "Holder") shall be entitled to
receive a certificate or certificates for the Warrant Shares so purchased. The
purchase rights represented by this Warrant are exercisable at the option of the
Holder, in whole or in part (but not as to fractional Warrant Shares). In the
case of the purchase of less than all the Warrant Shares purchasable under this
Warrant, the Company shall cancel said Warrant upon the surrender thereof and
shall execute and deliver a new Warrant of like tenor for the balance of the
Warrant Shares purchasable thereunder.

                           2.3      ISSUANCE OF CERTIFICATES. Upon the exercise
of this Warrant pursuant to Section 2.2 above, the issuance of certificates
representing the Warrant Shares purchased shall be made forthwith without charge
to the Holder thereof including, without limitation, any tax which may be
payable in respect of the issuance thereof, and such certificates shall (subject
to the provisions of Article 3 hereof) be issued in the name of, or in such
names as may be directed by, the Holder thereof; provided, however, that the
Company shall not be required to pay any tax which may be payable in respect of
any transfer involved in the issuance and delivery of any such certificates in a
name other than that of the Holder and the Company shall not be required to
issue or deliver such certificates unless or until the person or persons
requesting the issuance thereof shall have paid to the Company the amount of
such tax or shall have established to the satisfaction of the Company that such
tax has been paid.

                  Upon exercise, in whole or in part, of this Warrant,
certificates representing the Warrant Shares shall bear a legend substantially
similar to the following:

                  "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
                  REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
                  "ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT (I) PURSUANT TO
                  AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (II) TO THE
                  EXTENT APPLICABLE, PURSUANT TO RULE 144 UNDER THE ACT (OR ANY
                  SIMILAR RULE UNDER SUCH ACT RELATING TO THE DISPOSITION OF
                  SECURITIES), OR (III) UPON THE DELIVERY BY THE HOLDER TO THE
                  COMPANY OF AN OPINION OF COUNSEL, REASONABLY SATISFACTORY TO
                  THE ISSUER, STATING THAT AN EXEMPTION FROM REGISTRATION UNDER
                  SUCH ACT IS AVAILABLE."

                  3.       RESTRICTIONS ON TRANSFER OF WARRANTS.

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                           3.1      RIGHT OF FIRST REFUSAL. The transfer of this
Warrant and the Warrant Shares issuable upon exercise of this Warrant is subject
to a right of first refusal in favor of the Company and other restrictions on
transferability set forth in the Subscription Agreement, and the terms of
conditions of such right of first refusal and such other restrictions on
transferability are incorporated by reference into this Warrant as if fully set
forth herein.

                           3.2      SECURITIES ACT RESTRICTIONS. Individual, by
his acceptance hereof, covenants and agrees that this Warrant is being acquired
as an investment and not with a view to the distribution thereof, and that
neither this Warrant nor, if exercised, any Warrant Shares, may be offered or
sold except (i) pursuant to an effective registration statement under the Act,
(ii) to the extent applicable, pursuant to Rule144 under the Act (or any similar
rule under such Act relating to the disposition of securities), or (iii) upon
the delivery by the holder to the Company of an opinion of counsel, reasonably
satisfactory to the issuer, stating that an exemption from registration under
such Act is available.

                  4.       EXERCISE PRICE AND ADJUSTED EXERCISE PRICE. Subject
to adjustment as set forth in Section 5, the exercise price of the Warrant
Shares (the "Exercise Price") shall be equal to $0.18 per Warrant Share.

                  5.       ADJUSTMENTS OF EXERCISE PRICE AND NUMBER OF WARRANT
SHARES.

                           5.1      STOCK SPLIT, STOCK DIVIDEND, SUBDIVISION AND
COMBINATION. In case the Company shall at any time subdivide or combine the
outstanding shares of Common Stock (including by way of a stock dividend), the
Exercise Price shall forthwith be proportionately decreased in the case of
subdivision or increased in the case of combination. Upon each adjustment of the
Exercise Price pursuant to the provisions of this Section 5.1, the number of
Warrant Shares issuable upon the exercise of this Warrant shall be adjusted to
the nearest full Warrant Share by multiplying a number equal to the Exercise
Price in effect immediately prior to such adjustment by the number of Warrant
Shares issuable upon exercise of the Warrant immediately prior to such
adjustment and dividing the product so obtained by the adjusted Exercise Price.

                           5.2      RECLASSIFICATION, CONSOLIDATION, MERGER,
ETC. In case of any reclassification or change of the outstanding shares of
Common Stock (other than a change in par value to no par value, or from no par
value to par value, or as a result of a subdivision or combination), or in the
case of any consolidation of the Company with, or merger of the Company into,
another corporation (other than a consolidation or merger in which the Company
is the surviving corporation and which does not result in any reclassification
or change of the outstanding shares of Common Stock, except a change as a result
of a subdivision or combination of such shares or a change in par value, as
aforesaid), or in the case of a sale or conveyance to another corporation of the
property of the Company as an entirety, the Holder shall thereafter have the
right to purchase the kind and number of shares of stock and other securities
and property receivable upon such reclassification, change, consolidation,
merger, sale or conveyance as if the Holder were the owners of the Warrant
Shares underlying the Warrant at a price equal to the product of (x) the number
of shares of Common Stock issuable upon conversion of the Warrant Shares and (y)
the Exercise Price prior to the record date for such

<PAGE>
reclassification, change, consolidation, merger, sale or conveyance as if such
Holder had exercised the Warrant.

                           5.3      REDEMPTION OF WARRANT; REDEMPTION OF WARRANT
SHARES. Notwithstanding anything to the contrary contained in the Warrant or
elsewhere, the Warrant cannot be redeemed by the Company under any
circumstances.

                           5.4      DIVIDENDS AND OTHER DISTRIBUTIONS WITH
RESPECT TO OUTSTANDING SECURITIES. In the event that the Company shall at any
time prior to the exercise of the Warrant declare a dividend (other than a
dividend consisting solely of shares of Common Stock (which shall be governed by
Section 5.1) or a cash dividend or distribution payable out of current or
retained earnings) or otherwise distribute to its shareholders any monies,
assets, property, rights, evidences of indebtedness, securities (other than
shares of Common Stock), whether issued by the Company or by another person or
entity, or any other thing of value, the Holder of the Warrant shall thereafter
be entitled, in addition to the securities receivable upon the exercise thereof,
to receive, upon the exercise of such Warrant, the same monies, property,
assets, rights, evidences of indebtedness, securities or any other thing of
value that he would have been entitled to receive at the time of such dividend
or distribution. At the time of any such dividend or distribution, the Company
shall make appropriate reserves to ensure the timely performance of the
provisions of this Section 5.4.

                           5.5      SUBSCRIPTION RIGHTS FOR SHARES OF COMMON
STOCK OR OTHER SECURITIES. In the case that the Company or an affiliate of the
Company shall at any time after the date hereof and prior to the exercise of the
Warrant issue any rights to subscribe for shares of Common Stock or any other
securities of the Company or of such affiliate to all the shareholders of the
Company, the Holder of the unexercised Warrant shall be entitled, in addition to
the securities receivable upon the exercise of the Warrant, to receive such
rights at the time such rights are distributed to the other shareholders of the
Company.

                  6.       EXCHANGE AND REPLACEMENT OF WARRANT CERTIFICATES.
This Warrant is exchangeable without expense, upon the surrender hereof by the
registered Holder at the principal executive office of the Company, for a new
Warrant Certificate of like tenor and date representing in the aggregate the
right to purchase the same number of Warrant Shares in such denominations as
shall be designated by the Holder thereof at the time of such surrender. Upon
receipt by the Company of evidence reasonably satisfactory to it of the loss,
theft, destruction or mutilation of the Warrant Certificate, and, in case of
loss, theft or destruction, of indemnity or security reasonably satisfactory to
it, and reimbursement to the Company of all reasonable expenses incidental
thereto, and upon surrender and cancellation of the Warrant, if mutilated, the
Company will make and deliver a new Warrant Certificate of like tenor, in lieu
thereof.

                  7.       ELIMINATION OF FRACTIONAL INTERESTS. The Company
shall not be required to issue certificates representing fractions of Warrant
Shares upon the exercise of this Warrant, nor shall it be required to issue
scrip or pay cash in lieu of fractional interests, it being the intent of the
parties that all fractional interests shall be eliminated by rounding any
fraction up to the nearest whole number of Warrant Shares.

<PAGE>
                  8.       RESERVATION OF SECURITIES. The Company shall at all
times reserve and keep available out of its authorized shares of Common Stock,
solely for the purpose of issuance upon the exercise of the Warrant, such number
of shares of Common Stock (or other securities) as shall be issuable upon such
exercise. The Company covenants and agrees that, upon exercise of the Warrant
and payment of the Exercise Price therefore, all shares of Common Stock issuable
upon such exercise shall be duly and validly issued, fully paid, non-assessable
and not subject to the preemptive rights of any shareholder.

                  9.       NOTICES TO WARRANT HOLDER. If, at any time prior to
the expiration or exercise of this Warrant, any of the following events shall
occur:

                                    (a)      the Company shall take a record of
the holders of its shares of Common Stock for the purpose of entitling them to
receive a dividend or distribution payable otherwise than in cash, or a cash
dividend or distribution payable otherwise than out of current or retained
earnings, as indicated by the accounting treatment of such dividend or
distribution on the books of the Company; or

                                    (b)      the Company shall offer to all the
holders of its Common Stock any additional shares of capital stock of the
Company or securities convertible into or exchangeable for shares of capital
stock of the Company, or any option, right or warrant to subscribe therefore; or

                                    (c)      a dissolution, liquidation or
winding up of the Company (other than in connection with a consolidation or
merger) or a sale of all or substantially all of its property, assets and
business as an entirety shall be proposed;

then, in any one or more of said events, the Company shall give written notice
to the Holder of such event at least fifteen (15) days prior to the date fixed
as a record date or the date of closing the transfer books for the determination
of the shareholders entitled to such dividend, distribution, convertible or
exchangeable securities or subscription rights, options or warrants, or entitled
to vote on such proposed dissolution, liquidation, winding up or sale. Such
notice shall specify such record date or the date of closing the transfer books,
as the case may be. Failure to give such notice or any defect therein shall not
affect the validity of any action taken in connection with the declaration or
payment of any such dividend or distribution, or the issuance of any convertible
or exchangeable securities or subscription rights, options or warrants, or any
proposed dissolution, liquidation, winding up or sale.

                  10.      NOTICES. All notices, requests, consents and other
communications hereunder shall be in writing and shall be deemed to have been
duly made when delivered, or mailed by registered or certified mail, return
receipt requested:

                                    (a)      If to the registered Holder of the
Warrant, to the address of such Holder as shown on the books of the Company; or

                                    (b)      If to the Company, to the address
set forth on the signature page of this Warrant or to such other address as the
Company may designate by notice to the Holder.

<PAGE>
                  11.      SUCCESSORS. All the covenants and provisions of this
Agreement by or for the benefit of the Company and the Holder inure to the
benefit of their respective successors and assigns hereunder.

                  12.      GOVERNING LAW. This Warrant shall be deemed to be a
contract made under the laws of the State of California and for all purposes
shall be construed in accordance with the laws of said State.

                  13.      COUNTERPARTS. This Warrant may be executed in any
number of counterparts and each of such counterparts shall for all purposes be
deemed to be an original, and such counterparts shall together constitute but
one and the same instrument.

                         [SIGNATURES ON FOLLOWING PAGE]

<PAGE>
                  IN WITNESS WHEREOF, the Company has caused this Warrant to be
duly executed.

Dated:  October 4, 2004                       THE RICEX COMPANY

                                              By:     /s/ TERRENCE BARBER
                                                      -------------------------
                                              Name:   Terrence Barber
                                              Title:  Chief Executive Officer

ACCEPTED BY AND AGREED TO:

NEIL J. CLENDENINN

----------------------------
By:_________________________
Its:________________________

<PAGE>
                              ELECTION TO PURCHASE

                  The undersigned hereby irrevocably elects to exercise the
right, represented by this Warrant, to purchase _________ shares of Common Stock
of The RiceX Company (or its successor) and herewith tenders in payment for such
shares cash or a check payable to the order of The RiceX Company in the amount
of $ _________, all in accordance with the terms hereof. The undersigned
requests that a certificate for such shares be registered in the name of
____________________, whose address is ____________________, and that such
Certificate be delivered to ____________________, whose address is
________________________________________.

Dated: _________________            Signature: _________________________________

                                             (Signature must conform in all
                                             respects to name of holder as
                                             specified on the face of the
                                             Warrant Certificate.)

                                             ___________________________________

                                             ___________________________________
                                              (Insert Social Security or Other
                                                Identifying Number of Holder)

<PAGE>
                               FORM OF ASSIGNMENT

             (To be executed by the registered holder if such holder
                  desires to transfer the Warrant Certificate.)

                  FOR VALUE RECEIVED hereby sells, assigns and transfers unto
(Please print name and address of transferee) this Warrant [or a portion of this
Warrant equal to ____________ shares of Common Stock], together with all right,
title and interest therein, and does hereby irrevocably constitute and appoint
_______________, Attorney, to transfer the within Warrant Certificate on the
books of the within-named Company, with full power of substitution.

Dated: _________________            Signature: _________________________________

                                             (Signature must conform in all
                                             respects to name of holder as
                                             specified on the face of the
                                             Warrant Certificate.)

                                             ___________________________________

                                             ___________________________________
                                              (Insert Social Security or Other
                                               Identifying Number of Assignee)EXHIBIT 4.23

                                                                        SOP04006

THIS  OPTION  HAS BEEN  ISSUED  PURSUANT  TO  EXEMPTIONS  FROM THE  REGISTRATION
REQUIREMENTS  OF THE  SECURITIES  ACT OF 1933,  AS AMENDED (THE "ACT"),  AND THE
QUALIFICATION  REQUIREMENTS OF APPLICABLE STATE SECURITIES LAWS (THE "LAWS"). IT
IS UNLAWFUL TO EXERCISE,  SELL,  PLEDGE OR OTHERWISE  DISPOSE OF THIS OPTION, OR
ANY INTEREST THEREIN, OR RECEIVE ANY CONSIDERATION  THEREFOR,  IN THE ABSENCE OF
AN EFFECTIVE  REGISTRATION  STATEMENT UNDER THE ACT AND QUALIFICATION  UNDER THE
LAWS, UNLESS  EXEMPTIONS FROM SUCH  REGISTRATION AND QUALIFICATION  REQUIREMENTS
ARE AVAILABLE.

THIS OPTION MAY BE  EXERCISED  ONLY IN  ACCORDANCE  WITH THE TERMS OF THIS STOCK
OPTION AGREEMENT.

                                THE RICEX COMPANY

               BOARD MEMBER - NONSTATUTORY STOCK OPTION AGREEMENT
               --------------------------------------------------

         The RiceX  Company,  a Delaware  corporation  (the  "Company"),  hereby
grants to Kirit Kamdar (the "Optionee"),  an option (the "Option") to purchase a
total of 50,000  shares of common  stock,  par value $.001,  of the Company (the
"Common  Stock") at an exercise price (the "Exercise  Price") equal to $0.19 per
share,  which is equal to the fair market value of the Company's Common Stock on
the date of the grant,  in all respects  subject to the terms,  definitions  and
provisions of this Nonstatutory Stock Option Agreement (the "Agreement").

                  1.   NATURE OF THE  OPTION.  The  Option is  intended  to be a
nonstatutory  option and not an  incentive  stock  option  within the meaning of
Section 422 of the Internal Revenue Code of 1986, as amended (the "Code").

                  2.   PAYMENT OF EXERCISE PRICE.

                       (a)  METHOD OF PAYMENT. Payment of the Exercise Price for
shares  purchased  upon  exercise of the Option shall be made (i) by delivery to
the Company of cash or a check to the order of the Company in an amount equal to
the purchase  price of such shares;  (ii) subject to the consent of the Company,
by delivery to the Company of shares of Common  Stock of the Company  then owned
by the Optionee having a fair market value equal in amount to the purchase price
of such shares in  accordance  with Section  2(b);  or, (iii) by any other means
approved by the Board of Directors and which is consistent  with applicable laws
and regulations  (including,  without  limitation,  the provisions of Rule 16b-3
under the Securities Exchange Act of

<PAGE>
1934 and Regulation T promulgated by the Federal Reserve Board);  or (iv) by any
combination of such methods of payment.

                       (b)  METHOD  OF  PAYMENT  - PUBLIC  MARKET.  In the event
there  exists a public  market  for the  Company's  Common  Stock on the date of
exercise,  payment of the  exercise  price may be made by surrender of shares of
the Company's Common Stock. In this case payment shall be made as follows:

                            (i)  Optionee  shall deliver to the Secretary of the
Company a written notice which shall set forth the portion of the purchase price
the Optionee  wishes to pay with Common Stock,  and the number of shares of such
Common Stock the Optionee intends to surrender  pursuant to the exercise of this
Option, which shall be determined by dividing the aforementioned  portion of the
purchase  price by the  average of the last  reported  bid and asked  prices per
share of Common  Stock of the  Company,  as reported in The Wall Street  Journal
(or, if not so reported,  as otherwise  reported by the National  Association of
Securities  Dealers  Automated  Quotation  (NASDAQ)  System or, in the event the
Common  Stock is listed on a  national  securities  exchange,  or on the  NASDAQ
Small-Cap Market of any successor  national market system,  the closing price of
Common  Stock of the  Company on such  exchange  as  reported in The Wall Street
Journal) for the day on which the notice of exercise is sent or delivered;

                            (ii) Fractional  shares shall be disregarded and the
Optionee  shall pay in cash an amount equal to such  fraction  multiplied by the
price determined under subparagraph (i);

                            (iii) The written notice shall be  accompanied  by a
duly  endorsed  blank stock power with respect to the number of Shares set forth
in the  notice,  and  the  certificate(s)  representing  said  Shares  shall  be
delivered to the Company at its principal  offices within three (3) working days
from the date of the notice of exercise;

                            (iv) The Optionee hereby  authorizes and directs the
Secretary of the Company to transfer so many of the Shares  represented  by such
certificate(s) as are necessary to pay the purchase price in accordance with the
provisions herein;

                            (v)  If any such  transfer  of Shares  requires  the
consent of the California  Commissioner  of Corporations or of some other agency
under the securities  laws of any other state,  or an opinion of counsel for the
Company or Optionee that such transfer may be effected under applicable  federal
and state securities  laws, the time periods  specified herein shall be extended
for such  periods as the  necessary  request  for consent to transfer is pending
before said  commissioner  or other  agency,  or until  counsel  renders such an
opinion,  as the case may be. All  parties  agree to  cooperate  in making  such
request for transfer,  or in obtaining such opinion of counsel,  and no transfer
shall be effected without such consent or opinion if required by law; and

<PAGE>
                            (vi) Notwithstanding  any other  provisions  herein,
the Optionee  shall only be  permitted to pay the purchase  price with shares of
the  Company's  Common Stock owned by him as of the exercise  date in the manner
and within the time  periods  allowed  under  Rule 16b-3  promulgated  under the
Securities Exchange Act of 1934 as such regulation is presently constituted,  as
it is amended from time to time,  and as it is  interpreted  now or hereafter by
the Securities and Exchange Commission and any such shares have been held by the
Optionee for not less than six (6) months.

                  3.   EXERCISE  OF  OPTION.  The  Option  shall vest and become
exercisable  during its term,  subject to the provisions of Section 5 below,  as
follows:

                       (a)  VESTING AND RIGHT TO EXERCISE.

                            (i)  The Option hereby granted shall vest and become
exercisable on a prorated basis over a twelve-month period beginning October 18,
2004. The option will be fully vested on October 18, 2005.

         Subject to the  provisions of  subparagraph  (ii) and (iii) below,  the
Optionee  can  exercise  any portion of the Option,  which has vested  until the
expiration of the Option term.

         If a "change of control" of the Company should occur, as defined below,
then the Option  shall  immediately  vest and become  exercisable  in full.  For
purposes of the foregoing provision,  a "change in control" means the occurrence
of any of the following:

                                 (A)  any  "person,"  as  such  term  is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as emended (the
"Exchange  Act")  (other than the Company or its  existing  shareholders)  is or
becomes the  "beneficial  owner" (as  defined in Rule 13d-3  under the  Exchange
Act),  directly or  indirectly,  of securities of the Company (or a successor to
the Company)  representing  50% or more of the combined voting power of the then
outstanding securities of the Company or such successor;

                                 (B)  the   dissolution   of  the   Company   or
liquidation of more than 50% or more in value of the assets of the Company, (ii)
or any merger or  reorganization of the Company whether or not another entity is
the survivor, (iii) a transaction (other than the initial public offering of the
Company's shares) pursuant to which holders, as a group, of all of the shares of
the Company outstanding before the transaction,  hold, as a group, less than 50%
of the combined voting power of the Company or any successor company outstanding
after the  transaction,  or (iv) any other  event or series of events  which the
Optionee determines, in his discretion,  would materially alter the structure of
the Company or its ownership.

                            (ii) In  the   event   of  the   Optionee's   death,
disability,  other  termination  of  employment  or ceases to be a member of the
Board prior to exercise,  the  exercisability of the Option shall be governed by
Section 5 below.

<PAGE>
                            (iii) The Option  may be  exercised  in  whole or in
part but may not be exercised as to fractional shares.

                       (b)  METHOD OF EXERCISE. In order to exercise any portion
of the Option,  the Optionee  shall  execute and deliver to the Chief  Financial
Officer  of the  Company  the  Notice of  Exercise  of Stock  Option in the form
attached hereto as Exhibit "A," together with the Consent of Spouse.  The Notice
of Exercise must be  accompanied  by payment in full of the  aggregate  purchase
price for the Shares to be purchased in the type of  consideration  set forth in
Section 2. The Notice of Exercise  may be  delivered to the Company at any time.
The  certificate(s)  for the Shares as to which the  Option  has been  exercised
shall be registered in the name of Optionee or his designee.

                       (c)  RESTRICTIONS  ON  EXERCISE.  This  Option may not be
exercised  if the  issuance  of the shares  upon such  exercise or the method of
payment of  consideration  for such shares  would  constitute a violation of any
applicable federal or state securities law or any other law or regulation.  As a
condition to the exercise of the Option, the Company may require the Optionee to
make any  representation  or  warranty to the Company at the time of exercise of
the Option as in the opinion of legal counsel for the Company may be required by
any  applicable  law or  regulation,  including the execution and delivery of an
appropriate  representation  statement.  The stock certificate(s) for the Shares
issued upon  exercise  of the Option may bear  appropriate  legends  restricting
transfer.

                       (d)  DELIVERY OF CERTIFICATES.  The Company shall deliver
the  certificate(s)  for the Shares  issued  upon  exercise of the Option to the
Optionee  as  soon  as is  practicable;  provided,  however,  that if any law or
regulation  requires  the  Company to take  action  with  respect to such shares
before the  issuance  thereof,  including,  without  limitation,  actions  taken
pursuant to Section 6 below,  then the date of delivery of such Shares  shall be
extended for a period necessary to take such action.

                  4.   NON-TRANSFERABILITY   OF  OPTION.   This  Option  may  be
exercised  during the lifetime of the Optionee  only by the Optionee and may not
be  transferred  in any manner  other than by will or by the laws of descent and
distribution.  The terms of this  Option  shall be binding  upon the  executors,
administrators, heirs and successors of the Optionee.

                  5.   TERM OF THE OPTION.  Except as otherwise provided in this
Agreement,  to the extent not  previously  exercised,  the right to exercise the
Option shall  terminate on the tenth  (10th)  anniversary  of the date of grant.
Notwithstanding the foregoing, if an Optionee ceases to be a Board Member of the
Company for any reason,  except  death and  disability,  he or she may, but only
within  ninety (90) days after the date he or she ceases to be a Board Member of
the  Company,  exercise  his or her  Option  to the  extent  that  he or she was
entitled to exercise it at the date of such termination,  and in the case of the
Optionee's death or disability,  the Optionee (or the  Administrator or Executor
or other  Representative of the Optionee's  estate) may, but only within one (1)
year after the date he or she ceases to be a Board  Member of the Company due to
death or disability, exercise his or her Option to the extent that he or she was
entitled to exercise it

<PAGE>
at the date of such  termination;  provided,  however  that in no event  may the
Option be exercised after the ten (10) year term has expired. To the extent that
the  Optionee  was not  entitled  to  exercise  an  Option  at the  date of such
termination,  or if he or she does not exercise such Option (which he or she was
entitled  to  exercise)  within the time  specified  herein,  the  Option  shall
terminate.

                  6.   ADJUSTMENTS  UPON  /CHANGES  IN   CAPITALIZATION;   OTHER
ADJUSTMENTS.  Subject to any required action by the shareholders of the Company,
the number of Shares and the Exercise  Price shall be  proportionately  adjusted
for any  increase  or decrease  in the number of issued  shares of Common  Stock
resulting   from   a   stock   split,   reverse   stock   split,    combination,
reclassification,  the payment of a stock  dividend  on the Common  Stock or any
other  increase  or  decrease  in the  number of  shares of Common  Stock of the
Company  effected  without receipt of  consideration  by the Company;  provided,
however, that conversion of any convertible  securities of the Company shall not
be  deemed  to have been  "effected  without  receipt  of  consideration."  Such
adjustment shall be made by the Board, whose determination in that respect shall
be final, binding and conclusive.  Except as expressly provided herein, no issue
by the Company of shares of stock of any class, or securities  convertible  into
shares of stock of any class,  shall affect and no adjustment by reason  thereof
shall be made with respect to, the number of shares  subject to, or the Exercise
Price of, this Option.

                  The Board may, if it so determines in the exercise of its sole
discretion,  also make provision for adjusting the number of shares,  as well as
the  Exercise  Price,  in the  event  that  the  Company  effects  one  or  more
reorganizations,  recapitalizations,  rights  offerings,  or other  increases or
reductions of shares of its  outstanding  common stock,  and in the event of the
Company being consolidated with or merged into any other corporation;  provided,
however,  that in no event  shall the  Optionee  be  adversely  affected by such
adjustment.

                  The Board may, if it so determines in the exercise of its sole
discretion, also make provision for changing,  modifying,  amending or adjusting
any of the terms of this  Option  solely in order for the  Company  to perfect a
significant financing; provided, however, that in no event shall the Optionee be
adversely affected by such adjustment.

                  7.   RIGHTS OF SHAREHOLDER. Optionee shall have no rights as a
shareholder  with  respect to the shares  until the date of the  issuance or the
transfer to the  Optionee of the  certificate(s)  for such shares and only after
the Exercise Price for such shares has been paid in full.

                  8.   AMENDMENT.  Except  as  set  forth  in  Section  6,  this
Agreement may not be amended without the written consent of the Optionee.

                  9.   INCOME  TAX  WITHHOLDING.  The  Optionee  authorizes  the
Company to withhold,  in accordance  with  applicable law from any  compensation
payable to him or her,  any taxes  required to be withheld by federal,  state or
local laws as a result of the exercise of this Option. Furthermore, in the event
of any determination that the Company has failed to withhold a sum sufficient to
pay all  withholding  taxes due in connection

<PAGE>
with the  exercise of this Option,  the  Optionee  agrees to pay the Company the
amount of such deficiency in cash within five (5) days after receiving a written
demand  from the  Company to do so,  whether or not  Optionee  is an employee or
director of the Company at that time.

                  10.  INVESTMENT REPRESENTATIONS; LEGENDS.

                       (a)  REPRESENTATIONS.  The Optionee represents,  warrants
and covenants that:

                            (i)  Any  shares  purchased  upon  exercise  of this
Option shall be acquired for the Optionee's account for investment only, and not
with a view to, or for sale in connection  with, any  distribution of the shares
in violation of the Securities Act of 1933 (the  "Securities  Act"), or any rule
or regulation under the Securities Act.

                            (ii) The Optionee has had such  opportunity as he or
she has deemed  adequate to obtain  from  representatives  of the  Company  such
information  as is  necessary  to permit the Optionee to evaluate the merits and
risks of his or her investment in the Company.

                            (iii)The Optionee is able to bear the economic  risk
of the holding of such shares  acquired  pursuant to the exercise of this Option
for an indefinite period.

                            (iv) The  Optionee   understands   that  the  Shares
acquired  pursuant to the exercise of this Option are not  registered  under the
Securities Act and are  "restricted  securities"  within the meaning of Rule 144
under the Securities Act and may not be transferred,  sold or otherwise disposed
of in the absence of an  effective  registration  statement  with respect to the
Shares filed and made effective  under the Securities Act of 1933, or an opinion
of counsel  satisfactory  to the Company to the effect that  registration  under
such Act is not required.

By making payment upon exercise of this Option,  the Optionee shall be deemed to
have reaffirmed,  as of the date of such payment,  the  representations  made in
this Section 10.

                       (b)  LEGENDS OF STOCK CERTIFICATE. All stock certificates
representing  share of Common Stock issued to the Optionee upon exercise of this
Option shall have  affixed  thereto  legend(s)  substantially  in the  following
forms, in addition to any other legends required by applicable state law:

         "THE  SHARES OF STOCK  REPRESENTED  BY THIS  CERTIFICATE  HAVE NOT BEEN
         REGISTERED UNDER THE SECURITIES ACT OF 1933 AND MAY NOT BE TRANSFERRED,
         SOLD  OR  OTHERWISE   DISPOSED  OF  IN  THE  ABSENCE  OF  AN  EFFECTIVE
         REGISTRATION  STATEMENT  WITH  RESPECT TO THE SHARES  EVIDENCED BY THIS
         CERTIFICATE, FILED AND MADE EFFECTIVE UNDER THE SECURITIES ACT OF 1933,
         OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY TO THE

<PAGE>
         EFFECT THAT REGISTRATION UNDER SUCH ACT IS NOT REQUIRED."

DATE OF GRANT:  October 18, 2004

The RiceX Company

                                 By:  /s/ TERRENCE BARBER
                                      ----------------------------------------
                                      Terrence Barber, Chief Executive Officer

                                 By:  /s/ TODD C. CROW
                                      ----------------------------------------
                                      Todd C. Crow, Chief Financial Officer

         The Optionee acknowledges receipt of a copy of the Plan, and represents
that he or she is familiar  with the terms and  provisions  thereof,  and hereby
accepts  this Option  subject to all of the terms and  provisions  thereof.  The
Optionee hereby agrees to accept as binding,  conclusive and final all decisions
or  interpretations  of the Board of  Directors  of The RiceX  Company  upon any
questions arising under such Agreement.

Dated:   ________________________

                                      _______________________________________
                                      Kirit Kamdar ("Optionee")

CONSENT OF SPOUSE

         I,  ________________________,  spouse of the  Optionee who executed the
foregoing  Agreement attached hereto,  hereby agree that my spouse's interest in
the shares of Common Stock of The RiceX Company  subject to said Agreement shall
be  irrevocably  bound by the  Agreement's  terms. I agree to accept as binding,
conclusive and final all decisions or  interpretations of the Board of Directors
of The RiceX Company upon any questions arising under such Agreement.  I further
agree  that my  community  property  interest  in  such  Shares,  if any,  shall
similarly  be bound by said  Agreement  and that such consent is binding upon my
executors,  administrators,  heirs and  assigns.  I agree to execute and deliver
such documents as may be necessary to carry out the intent of said Agreement and
this consent.

<PAGE>
Dated:  ________________________

                                    _________________________________________
                                    Signature

                                    _________________________________________
                                    Print Name

<PAGE>
                                    EXHIBIT A

TO:      The RiceX Company
         1241 Hawks Flight Court, Suite 103
         El Dorado Hills, CA  95762

SUBJECT: NOTICE OF EXERCISE OF STOCK OPTIONS

With  respect  to the  stock  option  granted  to the  undersigned  by The RiceX
Company, (the "Company") on (grant date) _______________________, to purchase an
aggregate of ________________________ shares of the Company's Common Stock, this
is official notice that the undersigned hereby elects to exercise such option to
purchase shares as follows:

         Number of Shares  ________________________

         Date of Purchase: ________________________

         Mode of Payment:  ________________________  (certified check or cash)

The shares should be issued as follows:

         Name:             _____________________________________________

         Address:          _____________________________________________

                           _____________________________________________

         Signed by (print name):

         _____________________________________________

         Signature:

         _____________________________________________

         Dated:

         _____________________________________________

Please send this notice of exercise to:

         The RiceX Company

<PAGE>
         1241 Hawks Flight Court, Suite 103
         El Dorado Hills, CA  95762

         Phone:  916-933-3000

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