Document:

<PAGE>

                                                                   EXHIBIT 10.20

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT made as of the date last written below by and between
Genencor International, Inc. ("GCOR"), a Delaware Corporation with a principal
office at 925 Page Mill Road, Palo Alto, California 94104-1013 and Jean Jacques
Bienaime ("Employee"), residing at 500 Kingsley Avenue, Palo Alto, California
94301.

         WHEREAS, GCOR desires to employ the Employee and the Employee desires
to work for GCOR, and GCOR and the Employee desire to define the terms and
conditions under which GCOR will employ the Employee.

         NOW, THEREFORE, the parties hereby covenant and agree as follows:

         1.       GCOR agrees to employ the Employee as Chief Executive Officer
(CEO) and President upon appointment to those offices by GCOR's Board of
Directors (the "Board") on or about November 15, 2002 to perform such duties
consistent with his title and position as may be determined and assigned to him
by the Board.

         2.       The Employee agrees to devote substantially all of his
professional employment time and effort to the performance of his duties as such
CEO and President for GCOR and to perform such other duties consistent with his
title and position as are reasonably assigned him from time to time by the
Board.

         3.       Unless terminated earlier by GCOR or Employee in writing, as
hereinafter specifically provided, the tenn of this Agreement shall be two (2)
years from the last date written below and will be automatically renewed for
incremental one-year periods thereafter.

         4.       For all the services to be rendered by the Employee in any
capacity hereunder, including services as an officer, director, or member of any
committee or any other duties assigned him by the Board, GCOR agrees to pay the
Employee a base salary of $525,000 per annum, payable in accordance with the
customary payroll payment practices of GCOR. The foregoing annual salary amount
may be, from time to time, increased by action of the Board or appropriate
Committee of such Board. Such action with respect to annual compensation shall
constitute an amendment to this Agreement.

<PAGE>

                                      -2-

         5.       GCOR and the Employee hereby agree that nothing contained
herein is intended to or shall be deemed to affect any of the Employee's rights
as a participant under any retirement, stock option, stock purchase, pension,
insurance, profit-sharing, bonus or similar plans of GCOR now or hereafter
declared to be in effect. GCOR recognizes that the Employee is induced to
execute this Agreement and to accept compensation at the rate set forth herein
in part because he expects to be a participant under such plans as are, from
time to time, in effect for the Company's executives and/or employees in
general. GCOR and the Employee further agree that he will receive an initial
stock option grant of 550,000 non-qualified options at a grant price determined
in accordance with the 2002 Omnibus Incentive Plan and vesting ratably over the
next three years, an award of 75,000 shares of restricted stock with three year
cliff vesting, and a $350,000 sign-on bonus payable one-half during the first
week of employment and one-half on March 1, 2003 (which amount shall be
repayable in the event the Employee voluntarily resigns within one year of
employment).

         6.       The Employee agrees to execute and be bound by an Employee
Confidentiality, Non-Disclosure, Non-Competition Agreement in the form attached
hereto as Exhibit A; the Invention Disclosure/Assignment Agreement attached as
Exhibit B; and Form of Confidentiality Agreement attached as Exhibit C; and
whether employed by GCOR or not, agrees to execute Exhibit C at any time at the
direction of the Company in order to avoid disclosure of confidential
information [as defined in Exhibit A, paragraph (1)] as this Exhibit is needed
at a future date. The terms of each Exhibit are hereby incorporated by reference
and made a part hereof.

         7.       This Agreement may be terminated by GCOR before the expiration
of the term provided for herein if, during the term of this Agreement, the
Employee (a) materially violates the provisions of Exhibits A and/or B as
executed (exhibits incorporated by reference herein); or (b) subsequently
refuses to execute Exhibit C as directed, (exhibit incorporated by reference
herein); (c) is convicted in a court of law of a felony or any crime involving
misuse or misappropriation of money or other property of GCOR; (d) exhibits
repeated willful or wanton failure or refusal to perform his duties in
furtherance of GCOR's business interest or in accordance with this Agreement
which failure or refusal is not remedied by the Employee within thirty (30) days
after notice from the Company; (e) commits an intentional tort against GCOR; (f)
commits any flagrant act of dishonesty or disloyalty or any act involving gross
moral turpitude which materially adversely affects the business of GCOR; or (g)
exhibits immoderate use of alcohol or drugs which, in the opinion of an
independent physician, impairs the Employee's ability to perform his duties
hereunder (all of the foregoing clauses (a) through (g) constituting reasons for
termination "for

<PAGE>

                                      -3-

cause") provided that unsatisfactory business performance of GCOR, or mere
inefficiency, or good faith errors in judgment or discretion by the Employee
shall not constitute grounds for termination for cause hereunder. In the event
of such termination for cause, GCOR may on ten (10) days' notice then terminate
his employment and, in that event, GCOR shall be obligated only to pay the
Employee the compensation due him up to the date of termination, all accrued,
vested or earned benefits under any applicable benefit plan and any other
compensation to which the Employee is entitled under this Agreement up to and
ending on the date of the Employee's termination.

         The benefits and compensation outline in this paragraph 7 are likewise
the only compensation and benefits that the Employee will receive if the
Employee voluntarily terminates his employment. Employee agrees to give GCOR
three (3) months' notice prior to resignation, voluntarily quitting, etc., and
in exchange GCOR agrees to pay Employee for this period.

         8.       Except for termination for cause as defined in paragraph 7
above (or voluntary termination by the Employee), in the event the Employee is
terminated by GCOR at any time prior to the end of the term of the Agreement,
for any other reason(s), including but not limited to a change in the ownership
or control of GCOR, such as may occur through divestiture, merger, acquisitions,
consolidation or takeover, or due to the unilateral capricious action of the
Board, or due to a substantial reduction in the duties to be performed by the
Employee resulting in actual or constructive removal from the position held by
Employee on the effective date of this Agreement, or due to substantial change
in the financial conditions of GCOR as evidenced by GCOR filing a petition for
reorganization under any bankruptcy, insolvency, reorganization or similar law
or making an assignment for the benefit of creditors, then the Employee shall,
upon such termination, receive Termination Compensation, including (a) the then
current salary (excluding non-recurring bonuses) paid the Employee payable for
twenty-four (24) months, unless the Employee becomes employed by a competitor or
engages in conduct inimical to GCOR as referred to in Exhibit A during that
period lasting up to twenty-four (24) months; and (b) continuation of all
company-paid benefits or additional compensation sufficient for the Employee to
acquire equivalent benefits for the same period; and (c) customary outplacement
services limited to $12,000.

         Notwithstanding the foregoing, GCOR shall be entitled by providing
written notice to the Employee, to terminate his employment under this Agreement
if the Employee shall become permanently disabled such that he unable to carry
out his duties hereunder for four (4) consecutive calendar months or for a
period aggregating one hundred twenty (120) days in any period of twelve (12)
consecutive calendar months. If the Employee is approved to receive benefits
under GCOR's

<PAGE>

                                      -4-

Long Term Disability Plan, then GCOR will pay the Employee additional
compensation so that the total equals the Termination Compensation set forth in
this paragraph 8. If the Employee is not approved to receive benefits under such
Plan, then he will upon termination of his employment for permanent disability
be entitled to receive the full Termination Compensation. Any delay or
forbearance by GCOR in exercising any such right to terminate this Agreement
shall not constitute a waiver thereof.

                  All Termination Compensation paid, if any, shall be payable in
accordance with the customary payroll practices of GCOR unless GCOR and the
Employee agree that GCOR shall make one lump-sum payment at a time and in an
amount agreeable to both. The Employee's entitlement to Termination Compensation
payment as provided herein shall be in addition to any rights the Employee may
have to payments or participation under any retirement, stock option, stock
purchase, pension, insurance, profit-sharing, bonus or similar plans applicable
to the Employee or employees in general, as defined in the appropriate Plan
Documents. In addition, if GCOR provides notice that this Agreement is
terminated, GCOR shall have no additional obligations hereunder, other than to
pay to the Employee (a) any unpaid amount of accrued salary (as defined) in
paragraph 4 on page 2 herein); (b) any unpaid amount of accrued vacation pay in
accordance with GCOR policy; (c) a pro rata amount of any vested incentive
compensation that shall be awarded the Employee pursuant to GCOR policy; and (d)
other obligations which may be owed the Employee under a specific provision of
this agreement.

         9.       This Agreement shall be construed and performed in accordance
to the laws of the State of California.

         10.      All notices provided for or permitted to be given pursuant to
this Agreement must be in writing. All notices shall be personally delivered or
sent by registered or certified mail to GCOR or the Employee at the address set
forth above or to such other address as GCOR or the Employee may notify the
other in accordance with the provisions of this section, or the last known
permanent residence. Any such notice so sent by mail shall be deemed made or
given upon mailing.

         11.      This Agreement contains the sole and entire agreement of the
parties and supersedes all prior agreements and understandings between the
Employee and GCOR and cannot be modified or changed by any oral or verbal
promise or statement by whomsoever made; nor shall any written modification of
it be binding upon GCOR until such written modification shall have been approved
in writing by the Company.

<PAGE>

                                      -5-

         12.      In the event any term or condition contained in this Agreement
should be breached by any party and thereafter waived or consented to by the
other party, such waiver or consent shall be limited to the particular breach so
waived or consented to and shall not be deemed to waive or consent to any other
breach occurring prior or subsequent to the breach so waived or consented to.

         13.      If any provisions of this Agreement or the application thereof
to any person or circumstances shall be invalid or unenforceable to any extent,
the remainder of this Agreement and the application of such provisions to other
persons or circumstances shall not be affected thereby and shall be enforced to
the extent permitted by law.

         14.      The provisions hereof, including without limitation those
incorporated herein pursuant to paragraph 6, which are to be performed or
observed after the termination of this Agreement, and the representations,
covenants and agreements of the parties contained herein with respect thereto
shall survive the termination of this Agreement and be effective according to
their terms.

         15.      All of the terms and provisions of this Agreement shall be
binding upon and shall inure to the benefit of and be enforceable by and against
the parties to this Agreement and the respective heirs, executors, and
successors in interest; provided, however, that the duties of the Employee
hereunder are personal in nature and may not be delegated without a written
consent of the Company.

         16.      This Agreement, including its existence and the terms thereof,
is considered confidential business information by GCOR and the Employee agrees
for the period of his employment hereunder and for twenty-four (24) months
thereafter not to disclose same to any other person or entity. The foregoing
confidentiality restriction shall be subject to the same exceptions as are set
forth in Exhibit A, section 1.

         17.      This Agreement, and the rights and benefits contained herein,
may not be assigned by either party hereto.

         18.      The Employee shall be based in Palo Alto, California.

<PAGE>

                                      -6-

IN WITNESS WHEREOF, GCOR has caused this Agreement to be executed by the Board,
and the Employee has hereunto set his hand as of the day and year last written
below.

                GENENCOR INTERNATIONAL, INC.

                By: /s/ W. Thomas Mitchell CHAIRMAN
                    ----------------------

                By: /s/ Jean Jacques Bienaime, Employee
                    -------------------------

                Date: October 17, 2002.

<PAGE>

                                    EXHIBIT A

                         CONFIDENTIALITY, NON-DISCLOSURE
                          AND NON-COMPETITION AGREEMENT

         THIS AGREEMENT is made as of the date last written below by and between
Genencor International, Inc. ("GCOR"), a Delaware Corporation having a principal
office at 925 Page Mill Road, Palo Alto, California 94304-1013 and ("Employee"),
residing at 500 Kingsley Avenue, Palo Alto, California 94301.

         WHEREAS, the Employee is an employee of GCOR who, during the course of
such employment, will be working upon and have access to certain confidential
information, processes, technical data, trade secrets, know-how and other
business information of a confidential nature belonging to GCOR; and

         WHEREAS, GCOR and the Employee wish to enter into certain covenants to
preserve and foster their respective business interests and, in certain
respects, their future cooperation with their fellow employees; and

         WHEREAS, employees similarly situated as the Employee are separately
covenanting and agreeing not to compete with GCOR should they leave the
employment of GCOR under certain defined circumstances; and

         NOW, THEREFORE, in consideration of the foregoing premises and the
covenants herein contained, and in consideration of GCOR's employment of the
Employee for such period or periods as may from time to time be mutually agreed
upon, and of the wages or salary paid or agreed to be paid to the Employee, and
other good and valuable consideration, the adequacy of which is hereby
acknowledged, the parties hereto agree as follows:

         1.       Confidentiality and Non-Disclosure. The Employee agrees and
covenants that he will not, at any time during his employment by GCOR and for a
period of five (5) years after his employment without the prior written
authorization of GCOR, disclose to any unauthorized person any formulas,
methods, compositions, trade secrets, secret processes, technical data,
confidential business information or other know-how or matters of a secret,
proprietary or confidential nature relating to GCOR or its business which the
Employee gained access to or knowledge of during or by reason of his employment
with GCOR. The foregoing obligations

<PAGE>

                                       -2-

regarding non-disclosure shall not apply to information which: (a) was in the
Employee's possession before receipt from GCOR; or (b) is or becomes a matter of
public knowledge through no fault of the Employee; (c) is disclosed by GCOR to a
third party without duty of confidentiality on the third party; or (d) is
disclosed under operation of law, if possible in conformity with Exhibit C.

         2.       Non-competition.

                  A.       In the event of the Employee's voluntary withdrawal
from GCOR's employment or GCOR's discharge of the Employee for cause as defined
in paragraph 7 of the Employment Agreement to which this Exhibit A is appended,
until the expiration of a 12 month period commencing on the date of the
termination of his employment, the Employee shall not engage in or compete
directly or indirectly, as a principal, on his own account, or as a shareholder
in, or be an employee of or consultant to, any corporation or other legal
entity, including limited or general partnerships, or carry out any activities
which are competitive with or would be inimical to the technology or business
interests of GCOR. The Employee, further, shall not extend credit or lend money
for the purpose of establishing or operating any such business, nor furnish any
information (including the information subject to the restriction in paragraph 1
above) or give advice, either directly or indirectly, to any such third party,
corporation or business entity of any kind. The non-compete restrictions of this
paragraph A shall apply, in the case of a large corporation conducting business
in diverse business fields, only to employment or competition in that unit,
division, subsidiary or other part of such corporation (or other legal entity)
in competition with GCOR.

         If the Employee is involuntarily terminated without cause, he will
receive Termination Compensation for the period specified above unless he
becomes employed by a competitor or otherwise violates the terms of this
agreement. At that time, all compensation from GCOR ceases.

                  B.       It is recognized by GCOR and the Employee that his
efforts, and those of his fellow employees are critically important to the
overall profitability of GCOR. The future profitability of GCOR is also linked
to the continuing services of the Employee and the covenant of the Employee not
to compete with GCOR should he choose to leave the employ of GCOR.

<PAGE>

                                      -3-

                  C.       It is understood and agreed that the present and
proposed business of GCOR is becoming increasingly competitive and that there is
an ever increasing risk that competing companies may seek to hire the employees
of GCOR who are critical to its continued success, not only because of the
abilities of such employees, but also because of the proprietary knowledge
acquired by such employees while at GCOR.

         3.       Exception for Publicly-Traded Companies. The foregoing
agreement not to compete shall not prohibit any Employee from owning stock as an
investment, debentures, warrants or similar instruments in any company whose
stock is traded on a national securities exchange or over-the-counter so long as
such ownership interest is less than five percent (5%) of the outstanding and
traded stock, debentures or warrants, as the case may be.

         4.       Alternative Employment. The foregoing covenant and agreement
is not intended to and shall not prevent the Employee from seeking or accepting
alternative employment with other business entities, customers or suppliers of
GCOR so long as the confidentiality, non-disclosure and non-compete covenants
herein are honored by the Employee and such business entities, customers or
suppliers.

         5.       Equitable and Legal Remedies. The parties hereto agree that no
remedy of law will be adequate to compensate GCOR for a violation of this
Agreement; and the Employee hereby agrees that in addition to any legal or other
rights that may be available in the event of a breach hereunder, GCOR may seek
equitable relief to enforce this Agreement in any court of competent
jurisdiction. Any actions or proceedings brought regarding this Agreement shall
be venued in the Northern District of California.

6.       Miscellaneous

                  A.       This Agreement and all rights and obligations
hereunder shall be governed and construed in accordance with the laws of the
State of California.

                  B.       This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective legal representatives,
successor and assigns.

                  C.       This Agreement shall not be modified, amended,
assigned, canceled or superseded except in writing signed by GCOR and the
Employee.

<PAGE>

                                      -4-

                  D.       This Agreement contains the entire agreement between
the parties relating to the subject matter hereof and supersedes and cancels all
prior or collateral agreements, proposals and understandings, whether written or
oral, relating to the subject matter hereof.

                  E.       No failure on the part of GCOR or of the Employee to
exercise, and no delay in exercising any right or remedy hereunder shall operate
as a waiver thereof or of any other right or remedy; nor shall any single or
partial exercise thereof preclude any other or further exercise thereof or of
any right or remedy.

                  F.       If any provision of this Agreement shall be
prohibited by or be invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity without
invalidating the remainder of such provision or the remaining provisions of this
Agreement.

                  G.       All notices, requests and demands shall be in writing
by certified mail, return receipt requested, addressed to the respective parties
hereto at their respective addresses first hereinabove set forth or to such
other address as either party shall designate in a written notice similarly
given to the other party.

                  H.       The masculine pronoun, wherever used herein, shall be
construed to include the feminine and the neuter, where appropriate. The
singular form, wherever used herein, shall be construed to include the plural,
where appropriate.

                  I.       This Agreement may be executed in two counterparts,
each of which shall be deemed an original and constitute one and the same
agreement.

                  IN WITNESS WHEREOF, the parties have executed this Agreement
on the date last written below.

                          GENENCOR INTERNATIONAL, INC.

                          By: /s/ W. Thomas Mitchell CHAIRMAN
                              ----------------------

                          By: /s/ Jean Jacques Bienaime, Employee
                              -------------------------

                          Date: 10-17-02

<PAGE>

                                    EXHIBIT B

                    INVENTION DISCLOSURE/ASSIGNMENT AGREEMENT

         It is my understanding that Genencor International, Inc., (hereinafter
called "GCOR") is engaged in the business of industrial biotechnology, including
research, development and manufacturing. I also understand that, as is generally
customary, GCOR requires its employees to assign to it all right, title and
interest in and to all inventions, discoveries, improvements and copyrightable
subject matter (hereinafter separate or collectively called "rights") in the
field of employment of its various employees and that it is essential for the
full protection of the business of GCOR that employees shall not disclose
classified or confidential or proprietary Company information regarding such
business, with which information they have or may become acquainted during the
period of their employment.

         Therefore, in consideration of my employment or continued employment by
GCOR during such time as I may be employed by GCOR, and of the wages or salary
and other benefits to be received by me in respect to such employment, it is
understood and agreed as follows:

         I hereby do and will sell, assign and transfer to GCOR all of my right,
title and interest in and to all said rights which, during, or within two years
after the termination of, my employment by GCOR, have been or may be made or
conceived by me, alone or with others, and within or arising out of any field of
employment in which I have worked or shall work for GCOR or arising out of any
information regarding the business of GCOR which has been or may be received by
me while in GCOR's employment.

         I will fully disclose to GCOR as promptly as available all information
known or possessed by me concerning the rights mentioned in the preceding
paragraph; and, upon request of GCOR and without further remuneration to me by
GCOR, but at the expense of GCOR, I will execute all applications for patents
and for copyright registration, assignments thereof and other instruments, and
do all things which GCOR may deem necessary to vest and maintain in it my entire
right, title and interest in and to all such rights.

<PAGE>

                                      -2-

         This agreement replaces all previous agreements relating to the same or
similar matters which I may have entered into with GCOR with respect to my
present and future period of employment by GCOR. It shall inure to the benefit
of the successors and assigns of GCOR, and shall be binding upon my heirs,
assigns, administrators and representatives. No oral agreement, statement or
representation shall alter the provisions of this agreement.

Date: 10-17-2002

/s/ Jean Jacques Bienaime
-------------------------
(Signature of Employee)

500 Kingsley Avenue, Palo Alto, CA 94301
----------------------------------------
(Address)

<PAGE>
                                                       [TO BE SIGNED ONLY IF
                                                       LATER REQUESTED TO DO SO
                                                       PURSUANT TO PAR. 6 OF THE
                                                       AGREEMENT]

                                    EXHIBIT C

                        FORM OF CONFIDENTIALITY AGREEMENT

         Confidentiality Agreement between Genencor International, Inc., a
corporation incorporated and existing under the laws of Delaware and having a
principal office in Palo Alto, California (hereinafter referred to as "GCOR")
and (hereinafter referred to as "Employee").

         WHEREAS the Employee desires to obtain or elicit confidential testimony
or documents from GCOR for the purpose of litigation or arbitration between or
among and GCOR who desires to maintain the confidentiality of said testimony or
documents.

         THEREFORE, in consideration of the foregoing and of the mutual promises
hereinafter set forth, and of other good and valuable considerations the receipt
and sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:

         1.       All testimony or documents generated, produced, referred to,
or elicited in the course of the litigation or arbitration may, as appropriate,
be designated by either GCOR or the Employee to be confidential ("Confidential
Material"). The party producing a document may designate it as Confidential
Material by marking it with the notation "CONFIDENTIAL." The party may designate
testimony as Confidential Information at the time of the deposition or testimony
of a representative of a party. Testimony so designated shall be transcribed
separately from the rest of the deposition. Alternatively, a party may designate
testimony as Confidential Information by written advice to all parties of the
pages and lines of the transcript so designated, within thirty (30) days of the
receipt by counsel of such transcript, in which event the portion designated
confidential shall be removed from the transcript and transcribed separately.
During said thirty (30) day period, all testimony shall be deemed and treated as
Confidential Information unless otherwise instructed by designating counsel or
the court or arbitration panel.

         2.       Confidential Material and any information derived therefrom
which tends to reveal the contents of Confidential Material may be inspected or
used only for the purposes of this action and only by: (a) the attorneys for the
parties and persons regularly employed by them; (b) the parties; (c) any person
employed to assist the aforementioned persons in connection with the

<PAGE>

                                       -2-

preparation and trial or arbitration of this action and any appellate or
judicial review; and (d) the respective court or arbitration panel before which
this action is pending, court or arbitration employees, court reporters,
stenographic reporters and members of the jury or arbitration panel. No other
person shall have access to Confidential Material or be informed of the contents
thereof. If appellate or judicial review is pursued, Confidential material may
be included in the record under appeal or review, but is, if at all possible, to
be "sealed," marked CONFIDENTIAL, and not made available for public review.

         3.       Confidential Material in the form of testimony or documents,
including any copies thereof, shall be returned to the party who produced or
generated them either within 30 days following the completion of the trial or
arbitration, or, if appellate or judicial review is pursued, within 30 days
following entry of a final order dispositive of the matter and the time for any
further appeal has expired or the order is otherwise unappealable.

Dated:____________

                                                 GENENCOR INTERNATIONAL, INC.

                                                 By: _______________________

                                                 Name: _____________________

                                                 Title: ____________________

___________________
Employee<PAGE>

                                                                   EXHIBIT 10.21

December 17, 2002     [GENENCOR INTERNATIONAL LOGO]   925 Page Mill Road
                                                      Palo Alto California 94304
Re: Letter Agreement                                  650.846.7500
                                                      650.845.6500 fax
                                                      www.genencor.com

Dear Debby Jo,

For reasons we previously discussed, your employment with Genencor
International, Inc. (the Company") will cease effective December 31, 2002. We
have prepared this letter (the "Letter Agreement") in order to place in
writing the terms of your separation from the Company.

Termination of Employment

Your employment with the Company will terminate on December 31, 2002 (the
"Termination Date").

On the Termination Date, you will be paid your base salary and any accrued but
unused vacation earned through that date. You will continue to participate in
the Company's Variable Pay Plan (the "VPP") through fiscal year 2002, and
shall receive any bonus to which you are entitled under that program as well as
any payment approved by the Board of Directors of the Company as it relates to
the Company's 2002 financial and technical milestones. You will not participate
in the VPP or any other Company bonus plan, after December 31, 2002. Except as
specified herein, all of your employment benefits will cease as of December 31,
2002.

Compensation & Benefits

The Company will provide you with the following compensation and benefits after
the Termination Date:

1)       Salary continuation, at your monthly rate of base salary ($325,000
         annually), minus applicable withholdings, for a period of eighteen (18)
         months following the Termination Date;

2)       If you elect to continue your health care coverage under the
         Consolidated Omnibus Budget Reconciliation Act of 1985, as amended
         ("COBRA:) following the termination of your employment, then the
         Company will pay for your monthly premium expenses under COBRA for up
         to eighteen (18) months following the Termination Date, and

3)       Executive outplacement services provided by an outside firm mutually
         agreeable to both you and the Company up to $12,000.

         Additional details regarding other benefit plan options you may have
         following termination of employment will be mailed to you in a separate
         benefits letter.

<PAGE>

Additional Compensation & Benefits

In consideration for the release contained in this Letter Agreement, the Company
agrees to provide you with the following compensation and benefits, which you
would otherwise not be entitled to receive:

1)       The Company will pay you a lump sum payment of $10,000, minus
         applicable withholdings;

2)       The Company will pay or reimburse you for reasonable tax preparation
         services from PricewaterhouseCoopers, LLP, for calendar year 2002; and

3)       You have an Option to purchase 197,011 shares of the common stock of
         the Company (the "Option") under the Company's 2002 Omnibus Incentive
         Plan (the "Plan"), pursuant to an Award Notice dated August 21, 2002
         (the "Award Notice"). You have vested in one third (1/3) or 65,670 of
         the total number of the shares (the "Class 1 Vested Shares"). The
         remaining two thirds (2/3) of the total number of shares of the common
         stock of the Company underlying the Option are unvested. The Company
         will allow you a period of two (2) years following the Termination Date
         to exercise the Class 1 Vested Shares. The company will further
         accelerate the vesting of an additional 65,671 shares, or fifty percent
         (50%) of the balance of your unvested shares rounded to the nearest
         whole share (the "Class 2 Vested Shares"). The company will allow you a
         period of one (1) year following the Termination Date to exercise the
         Class 2 Vested Shares. Your vesting and all other rights related to the
         remaining unvested shares underlying the Option will cease on the date
         of your signature below. Your rights and obligations with respect to
         the Class 1 & 2 Vested Shares shall remain subject to all terms of the
         Plan and the Award Notice following the Termination Date. To the extent
         the terms of the Plan or the Award Notice conflict with the terms of
         this Letter Agreement, the terms of this Letter Agreement shall govern.

You shall remain bound by your continuing obligations under the Officer
Confidentiality, Non-Disclosure and Non-Competition Agreement dated May 1, 2000
(the "Confidentiality Agreement") and your Invention Disclosure/Assignment
Agreement dated May 1, 2000 (the "Invention Agreement"), which are attached to
this Letter Agreement as Exhibits A and B, respectively. In addition, any
additional restrictive covenants that are contained in any other agreement
between you and the Company, including, but not limited to, any indemnification
agreement in existence on the Termination Date, shall survive the Termination
Date and be enforceable in accordance with their terms.

You agree that the only payments and benefits that you are entitled to receive
from the Company in the future are those specified in this Letter Agreement.

Release

In consideration of the benefits provided to you under this Letter Agreement
that you would otherwise not be entitled to receive, you agree to fully and
forever release, waive, discharge (and promise not to sue or otherwise institute
or cause to be instituted) any legal or administrative proceedings against the
Company, and any of its officers, directors, attorneys, insurers, shareholders,
predecessors, successors, affiliated or related companies, agents, current and
former employees, representatives, and other agents, and assignees thereof, with
respect to any

                                       2

<PAGE>

and all liabilities, claims, demands, contracts, debts, obligations and causes
of action of any nature, kind, and description, whether in law, equity or
otherwise, whether or not now known or ascertained, which currently do or may
exist, including without limitation any matter, cause or claim arising out of or
related to or connected with your hire, employment with the Company or its
predecessor, or the termination therefrom, as well as any act or omission by the
Company, and any of its officers, directors, attorneys, insurers, shareholders,
predecessors, successors, affiliated or related companies, agents, employees,
and assignees thereof, occurring on or before the date of this Letter Agreement.
Such liabilities, claims, demands, contracts, debts, obligations and causes of
action, include but are not limited to any claims for unpaid or late wages,
severance, stock options, retirement, pension benefits, or other benefits,
penalties, breach of contract, breach of the covenant of good faith and fair
dealing, infliction of emotional distress, misrepresentation, fraud, claims
under Title VII of the Civil Rights Act, under the California Fair Employment
and Housing Act, under the Employment Retirement Income and Security Act, under
the California Labor Code, and under any other statutory or common law claim
relating to employment, and any act or omission by the Company occurring on or
before the date of this Letter Agreement except any claims for: (1) your current
vested benefits under the Company's 401K Plan, (2) rights to indemnification
under California Labor Code section 2802, (3) workers' compensation benefits,
and (4) unemployment insurance benefits under California law.

In consideration of the promises and covenants contained herein, the Company
agrees to fully and forever release, waive and discharge any claims it has
against you, for any act or omission by you occurring on or before the date of
this Letter Agreement, except any claims relating to: (1) the Confidentiality
Agreement; (2) the Invention Agreement; (3) the Award Notice; (4) the Plan; (5)
a breach of any obligations to protect the proprietary information of the
Company; and (6) this Letter Agreement.

You and the Company expressly waive and release any and all rights and benefits
under Section 1542 of the Civil Code of the State of California (or any
analogous law of any other state), which reads as follows: "A general release
does not extend to claims which the creditor does not know or suspect to exist
in his favor at the time of executing the release, which, if known by him, must
have materially affected his settlement with the debtor." Furthermore, you and
the Company agree and understand that if, hereafter, either party discovers
facts different from or in addition to those which are now know or believed to
be true, that the waivers of this shall be and remain effective in all respects
notwithstanding such different or additional facts or the discovery thereof.

You understand and agree that you are waiving any right to bring any claim of
age discrimination, as well as any other claim. You also understand that in
accordance with the federal Older Workers Benefit Protection Act of 1990, and
any amendments thereto, you have up to twenty-one (21) days after receipt of
this Letter Agreement within which to review it, and to discuss it with an
attorney of your own choosing regarding whether or not you wish to execute it.
Furthermore, you have seven (7) days after you have signed this Letter Agreement
during which time you may revoke this agreement. If you wish to revoke this
agreement, you may do so by delivering a letter of revocation to Richard
Ranieri, Senior Vice President, Human Resources. Because of this revocation
period, you understand that the agreement set forth in this Letter Agreement
shall not become effective or enforceable until the eighth day after the date
you sign this Letter Agreement.

                                       3

<PAGE>

Nothing contained in this Letter Agreement shall constitute or be treated as an
admission by you or the Company of liability, of any wrongdoing, or of any
violation of the law.

In addition to the restrictive covenants in your Confidentiality Agreement and
Invention Agreement, you agree that you will not, for a period of two (2) years
following the Termination Date: entice, solicit or encourage any Company
employee to leave the employ of the Company or any independent contractor to
sever its engagement with the Company. The restrictive covenants described in
this paragraph shall be hereinafter referred to as the "Non-Solicitation
Covenants." You agree that the Company may suffer irreparable harm should you
breach the Non-Solicitation Covenants, and therefore agree that the Company,
notwithstanding the arbitration provision contained herein, may seek and obtain
injunctive relief as a remedy for any such breach by you.

You agree that you will not disclose to others the fact or terms of this Letter
Agreement to anyone outside of your immediate family, except that you may
disclose such information to your attorney or accountant in order for such
individuals to render services to you. You agree not to make any derogatory
statements about the Company or any of its current or former agents, attorneys,
representatives, employees, officers, directors, successors, predecessors,
assigns, parent corporations, subsidiaries, or affiliated companies. Should you
breach the covenants contained in this paragraph, the Company shall have the
right to declare this Letter Agreement null and void, and may cease payment of
and recover any compensation or benefits provided to you under this Letter
Agreement that you would not otherwise have the right to receive.

You agree that this Letter Agreement, the Confidentiality Agreement, the
Invention Agreement, the Award Notice, the Plan, as well as any agreement(s)
expressly set forth herein, contain the entire agreement between you and the
Company, and that you are not relying on any representation or promise that does
not appear in this Letter Agreement. You agree that except as expressly provided
in this paragraph, this Letter Agreement renders null and void any and all prior
agreements between you and the Company, including your Employment Agreement with
the Company dated May 1, 2000 (the "Employment Agreement"). Any rights or
benefits that you may have under your Employment Agreement will terminate upon
your execution of this Letter Agreement.

Both you and the Company agree that any and all disputes which arise out of or
relate to this Letter Agreement or any of the subjects hereof shall be resolved
through final and binding arbitration. Such arbitration shall be in lieu of any
trial before a judge and/or jury, and you expressly waive all rights to have
such disputes resolved via trial before a judge and/or jury. Such disputes shall
include, without limitation, claims for breach of contract or of the covenant of
good faith and fair dealing claims of discrimination, claims under any federal,
state or local law or regulation now in existence or hereinafter enacted and as
amended from time to time concerning in any way the subject of your employment
with the Company or its termination. The only claims not covered by this
agreement to arbitrate disputes are: (i) claims for benefits under the
unemployment insurance benefits; (ii) claims for workers' compensation benefits
under any of the Company's workers' compensation insurance policy or fund; or
(iii) claims connected with the Confidentiality Agreement or the Invention
Agreement. With respect to such disputes, they shall not be subject to
arbitration; rather, they will be resolved pursuant to applicable law. Binding
arbitration will be conducted in Santa Clara County, CA in accordance

                                       4

<PAGE>

with California Code of Civil Procedure section 1282, et seq., and the rules and
regulations of the American Arbitration Association then in effect for
resolution of commercial disputes. You will bear your own respective attorneys'
fees and you and the Company will share the costs of arbitration equally, except
that the Company will bear the cost of the arbitrator's fee and any other type
of expense or cost that you would not be required to bear if you were to bring
the dispute or claim in court. The arbitrator may not award attorneys' fees to
the other party unless a statute or contract at issue specifically authorizes
such an award.

The construction, interpretation and enforcement of this Letter Agreement shall
be governed by the internal laws of the State of California, without regard to
the conflict of laws rules of any jurisdiction.

I apologize for the formality of this letter, but it is important that we ensure
that all potential issues that may arise regarding this agreement are clearly
addressed. On behalf of Genencor, I wish you the very best in your future
endeavors.

                                   Sincerely,

                                   /s/ Richard J. Ranieri
                                   ---------------------------------------
                                   Name:  Richard J. Ranieri
                                   Title: Senior Vice President, Human Resources

                  My agreement with the above terms is signified by my signature
                  below.

Dated: December 17, 2002                        /s/ Debby Jo Blank
                                                --------------------------------
                                                Debby Jo Blank

                                      5

<PAGE>

                                    EXHIBIT A

                     OFFICER CONFIDENTIALITY, NON-DISCLOSURE
                          AND NON-COMPETITION AGREEMENT

         THIS AGREEMENT is made as of the date last written below by and between
Genencor International, Inc. ("GCI"), a Delaware Corporation having a principal
office at 925 Page Mill Road, Palo Alto, California 94304-1013 and Debby Jo
Blank, M.D. ("Employee"), residing at 318 Colina Court, La Jolla, California
92037.

         WHEREAS, the Employee is an employee of GCI who, during the course of
such employment, will be working upon and have access to certain confidential
information, processes, technical data, trade secrets, know-how and other
business information of a confidential nature belonging to GCI; and

         WHEREAS, GCI and the Employee wish to enter into certain covenants to
preserve and foster their respective business interests and, in certain
respects, their future cooperation with their fellow employees; and

         WHEREAS, employees similarly situated as the Employee are separately
covenanting and agreeing not to compete with GCI should they leave the
employment of GCI under certain defined circumstances; and

         NOW, THEREFORE, in consideration of the foregoing premises and the
covenants herein contained, and in consideration of GCI's employment of the
Employee for such period or periods as may from time to time be mutually agreed
upon, and of the wages or salary paid or agreed to be paid to the Employee, and
other good and valuable consideration, the adequacy of which is hereby
acknowledged, the parties hereto agree as follows:

         1.       Confidentiality and Non-Disclosure. The Employee agrees and
covenants that she will not, at any time during her employment by GCI and for a
period of five (5) years after her employment without the prior written
authorization of GCI, disclose to any unauthorized person any formulas, methods,
compositions, trade secrets, secret processes, technical data, confidential
business information or other know-how or matters of a secret, proprietary or
confidential nature relating to GCI on its business which the Employee gained
access to or knowledge of during or by reason of her employment with GCI. The
foregoing obligations regarding non-disclosure

<PAGE>

                                      -2-

shall not apply to information which: (a) was in the Employee's possession
before receipt from GCI; or (b) is or becomes a matter of public knowledge
through no fault of the Employee; (c) is disclosed by GCI to a third party
without duty of confidentiality on the third party; or (d) is disclosed under
operation of law, if possible in conformity with Exhibit C.

         2.       Non-competition.

                  A.       In the event of the Employee's voluntary withdrawal
from GCI's employment or GCI's discharge of the Employee for cause as defined in
paragraph 7 of the Employment Agreement to which this Exhibit A is appended,
until the expiration of a 24 month period commencing on the date of the
termination of her employment, the Employee shall not engage or compete directly
or indirectly, as a principal, on her own account, or as a shareholder in, or
employee of, any corporation or legal entity selling, manufacturing or
developing products in the field of Industrial Enzymes which are or may be
competitive with those marketed or being developed by GCI on the date of the
termination of her employment. (If the Employee is unaware of GCI's development
of any projects at the time of the termination of her employment, GCI retains
the discretion as to whether to inform the Employee of products it is then
developing or considering to develop, but if GCI chooses not to inform the
Employee of the development of any project currently being pursued or considered
by GCI, all of which are unknown by the Employee, this will not bar the Employee
from obtaining employment with a competitor.) The foregoing non-compete
restrictions shall likewise apply to employment or competition in any other
field of business in which, on the date of employment termination, GCI is
manufacturing or selling products in commerce, or for use in commerce, in excess
of 10.0 Million U.S. Dollars annually or has committed to commercialize with
internal resource expenditures in excess of 5.0 Million U.S. Dollars or has
signed a binding contract with a third party concerning such other field of
business in which the value to be received by GCI is in excess of 5.0 Million
U.S. Dollars. The Employee, further, shall not extend credit or lend money for
the purpose of establishing or operating any such business, nor furnish any
information (including the information subject to the restriction in paragraph I
above) or give advice, either directly or undirectly, to any such third party
corporation or business entity of any kind. The non-compete restrictions of this
paragraph A shall apply, in the case of a large corporation conducting business
in diverse business fields only to employment or competition in that unit,
division, subsidiary or

<PAGE>

                                      -3-

other part of such corporation (or other legal entity) in competition with GCI
in the fields defined herein and shall not preclude Employee from being engaged
or employed by such corporation in other non-competitive fields as provided for
in paragraph 4.

                  If the Employee is involuntarily terminated without cause, she
will receive Termination Compensation for the period specified unless she
becomes employed by a competitor as previously defined herein. At that time, all
compensation from GCI ceases.

                  For a period of twenty-four (24) months following the
Employee's termination from GCI, the Employee agrees to disclose the name of any
employer to the Chief Executive Officer two weeks in advance of her employment
with any competitor, non-competitor, business or her embarking upon
self-employment or consulting.

                  B.       It is recognized by GCI and the Employee that her
efforts, and those of her fellow employees are critically important to the
overall profitability of GCI. The future profitability of GCI is also linked to
the continuing services of the Employee and the covenant of the Employee not to
compete with GCI should she choose to leave the employ of GCI.

                  C.       It is understood and agreed that the present and
proposed business of GCI is becoming increasingly competitive and that there is
an ever increasing risk that competing companies may seek to hire the employees
of GCI who are critical to its continued success, not only because of the
abilities of such employees, but also because of the proprietary knowledge
acquired by such employees while at GCI.

         3.       Exception for Publicity-Traded Companies. The foregoing
agreement not to compete shall not prohibit any Employee from owning stock as an
investment, debentures, warrants or similar instruments in any company whose
stock is traded on a national securities exchange or over-the-counter so long as
such ownership interest is less than five percent (5%) of the outstanding and
traded stock, debentures or warrants, as the case may be.

         4.       Alternative Employment. The foregoing covenant and agreement
is not intended to and shall not prevent the Employee from seeking or accepting
alternative employment with other business entities customer or suppliers of GCI
so long as such business entities, customers or suppliers are not in the
business of selling, manufacturing or developing products in the field of
Industrial Enzymes or products in other field(s) of business as referred to
above which are or may

<PAGE>

                                      -4-

be competitive with those being marketed, developed or proposed for development
by GCI within two (2) years after the date of the termination of the Employee's
employment.

         5.       Equitable and Legal Remedies. The parties hereto agree that no
remedy of law will be adequate to compensate GCI for a violation of this
Agreement; and the Employee hereby agrees that in addition to any legal or other
rights that may be available in the event of a breach hereunder, GCI may seek
equitable relief to enforce this Agreement in any court of competent
jurisdiction. Any actions or proceedings brought regarding this Agreement shall
be venued in the Northern District of California.

         6.       Miscellaneous.

                  A.       This Agreement and all rights and obligations
hereunder shall be governed and construed in accordance with the laws of the
State of California.

                  B.       This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective legal representatives,
successor and assigns.

                  C.       This Agreement shall not be modified, amended,
assigned, canceled or superseded except in writing signed by GCI and the
Employee.

                  D.       This Agreement contains the entire agreement between
the parties relating to the subject matter hereof and supersedes and cancels all
prior or collateral agreements, proposals and understandings, whether written or
oral, relating to the subject matter hereof.

                  E.       No failure on the part of GCI or of the Employee to
exercise, and no delay in exercising any right or remedy hereunder shall operate
as a waiver thereof or of any other right or remedy; nor shall any single or
partial exercise thereof preclude any other or further exercise thereof or of
any right or remedy.

                  F.       If any provision of this Agreement shall be
prohibited by or be invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity without
invalidating the remainder of such provision or the remaining provisions of this
Agreement.

                  G.       All notices, requests and demands shall be in writing
by certified mail, return receipt requested, addressed to the respective parties
hereto at their respective addresses first hereinabove set forth or to such
other address as either party shall designate in a written notice similarly
given to the other party.

<PAGE>

                                      -5-

                  H.       The masculine pronoun, wherever used herein, shall be
construed to include the feminine and the neuter, where appropriate. The
singular form, wherever used herein, shall be construed to include the plural,
where appropriate.

                  I.       This Agreement may be executed in two counterparts,
each of which shall be deemed an original and constitute one and the same
agreement.

                  IN WITNESS WHEREOF, the parties have executed this Agreement
on the date last written below.

                          GENENCOR INTERNATIONAL, INC.

                           By: /s/ W. Thomas Mitchell
                               ------------------------------
                               W. Thomas Mitchell, President

                           By: /s/ Debby Jo Blank
                               ------------------------------
                               Debby Jo Blank, M.D., Employee

                          Date: 5-1-00

<PAGE>

                                   EXHIBIT B

                   INVENTION DISCLOSURE/ASSIGNMENT AGREEMENT

         It is my understanding that Genencor International, Inc., (hereinafter
called "GCI") is engaged in the business of industrial biotechnology, including
research, development and manufacturing. I also understand that, as is generally
customary, GCI requires its employees to assign to it all right, title and
interest in and to all inventions, discoveries, improvements and copyrightable
subject matter (hereinafter separate or collectively called "rights") in the
field of employment of its various employees and that it is essential for the
full protection of the business of GCI that employees shall not disclose
classified or confidential or proprietary Company information regarding such
business, with which information they have or may become acquainted during the
period of their employment.

         Therefore, in consideration of my employment or continued employment by
GCI during such time as I may be employed by GCI, and of the wages or salary and
other benefits to be received by me in respect to such employment, it is
understood and agreed as follows:

         I hereby do and will sell, assign and transfer to GCI all of my right,
title and interest in and to all said rights which, during, or within two years
after the termination of, my employment by GCI, have been or may be made or
conceived by me, alone or with others, and within or arising out of any field of
employment in which I have worked or shall work for GCI or arising out of any
information regarding the business of GCI which has been or may be received by
me while in GCI's employment.

         I will fully disclose to GCI as promptly as available all information
known or possessed by me concerning the rights mentioned in the preceding
paragraph; and, upon request of GCI and without further remuneration to me by
GCI, but at the expense of GCI, I will execute all applications for patents and
for copyright registration, assignments thereof and other instruments, and do
all things which GCI may deem necessary to vest and maintain in it my entire
right, title and interest in and to all such rights.

<PAGE>

                                      -2-

         This agreement replaces all previous agreements relating to the same or
similar matters which I may have entered into with GCI with respect to my
present and future period of employment by GCI. It shall inure to the benefit of
the successors and assigns of GCI, and shall be binding upon my heirs, assigns,
administrators and representatives. No oral agreement, statement or
representation shall alter the provisions of this agreement.

Date: 5-1-00, 2000

  /s/ Debby Jo Blank
---------------------------
  (Signature of Employee)

    318 Colina Ct.
---------------------------
    (Address)
 La Jolla CA 92037

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