Document:

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                                                                   EXHIBIT 10.55

                            ASSET PURCHASE AGREEMENT

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                            ASSET PURCHASE AGREEMENT

         THIS ASSET PURCHASE AGREEMENT (this "Agreement") is entered into on
March ___, 2005 by and between CAMBRIDGE EYE ASSOCIATES, INC., a Delaware
corporation and DOUGLAS VISION WORLD, a Delaware corporation (each a "Seller"
and together the "Sellers"), SIGHT RESOURCE CORPORATION, a Delaware corporation
("SRC") and CAMBRIDGE EYE DOCTORS/VISION WORLD, INC. ("Buyer") as follows:

                                    RECITALS:

         A. WHEREAS, Sellers are in the business of marketing and selling to the
general public at 25 retail eye care centers in the Commonwealth of
Massachusetts, the State of New Hampshire and the State of Rhode Island (the
"Centers") eyeglass frames and lenses, contact lenses and related eyewear
accessories (the "Business"); and

         B. WHEREAS, Sellers and Buyer have agreed, on the terms and subject to
the conditions of this Agreement, that Sellers shall sell to Buyer, and Buyer
shall purchase from Sellers, substantially all of the assets owned and used by
Sellers in the conduct of the Business; and

         C. WHEREAS, on June 24, 2004 Sellers filed in the United States
Bankruptcy Court for the Southern District of Ohio (the "Bankruptcy Court")
voluntary petitions for relief under Title 11 of Chapter 11 of the United States
Code (the "Bankruptcy Code") and Sellers and Buyer also have agreed that this
Agreement shall be subject to the approval of the Bankruptcy Court pursuant to
Section 363 of the Bankruptcy Code so that, inter alia, the Assets (as defined
in Section 1 below) can be conveyed by Sellers to Buyer free and clear of any
interests other than the Assumed Liabilities (as defined in Section 3.2 below).

         NOW, THEREFORE, in consideration of the mutual undertakings herein, and
other good and valuable considerations, the receipt and sufficiency of all of
which the parties hereby acknowledge, it is agreed that:

         1. PURCHASE AND SALE OF ASSETS.

               1.1 Subject Assets. Subject to approval of the Bankruptcy Court
and the entry of the Sale Order (as defined in Section 8.1 below), on the terms
and subject to the conditions of this Agreement, at the Closing (as defined in
Section 5 below) Buyer shall purchase from Sellers and Sellers shall sell,
transfer, convey and deliver to Buyer all of Sellers' direct and indirect
rights, titles and interests in and to the following tangible and intangible
property owned, leased or otherwise used by Sellers in connection with the
operation of the Business (the "Assets"):

                  (a) Inventory. All eyeglass frames and lenses, contact lenses,
related eyewear accessories and other inventory owned by Sellers or SRC and
located in or at the Centers together with all contact lens and other inventory
located in Cincinnati or any other location or on order as of the Closing Date;

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                  (b) FFE. All office furniture and equipment, optical
equipment, appliances, display cases, fixtures, supplies, accessories and other
tangible personal property located in or at the Centers including, without
limitation, the personal property described on the attached Exhibit A (the
"FFE");

                  (c) Accounts Receivable. All of Sellers' accounts receivable
(including, without limitation, receivables written-off by Sellers) other than
any inter-company accounts;

                  (d) Leases. All real property leases for the Centers
identified on the attached Exhibit B (the "Store Leases") together with all
security deposits held by lessors or landlords in accordance with the provisions
of each Store Lease;

                  (e) Contracts. All of Sellers' managed care contracts, written
agreements with professional corporations employing doctors listed on the
attached Exhibit C, stock pledge agreements relating to such professional
corporations and other written or oral customer contracts, agreements and
commitments (including customer deposits) (collectively, the "Assumed
Contracts");

                  (f) Intellectual Property. The names "Cambridge Eye
Associates" and "Douglas Vision World" and all related service marks, logos and
other proprietary rights and intellectual property under, by and through which
Sellers conduct the Business including, without limitation: (i) all signs,
kiosks and other advertising media; (ii) all stocks of business forms and
promotional literature that contains or makes reference to Cambridge Eye
Associates or Douglas Vision World; (iii) all presently existing telephone
numbers for each of the Centers to the extent such numbers are transferable;
(iv) the "Sight-Care" trademark and all related material; and (v) all government
permits and licenses relating to the operation of the Businesses to the extent
assignable without the consent of any party (the "Intellectual Property");

                  (g) Books and Records. All books and records including,
without limitation, Sellers' hard copies and electronic versions of the
accounting records, customer lists, patient records, manuals, personnel,
employment and payroll files, promotional materials, business forms, permits,
licenses, titles and other written, printed or electronic information of any
kind used by Sellers to conduct the Business, including without limitation all
data and information in the Sellers' POS Delta System and any and all other
records and information (the "Books and Records");

                  (h) Prepaid Expenses. All prepaid expenses including, without
limitation, prepaid insurance premiums and advertising costs except for those
prepaid expenses listed on the attached Exhibit D; and

                  (i) Computers. All computer hardware, all computer software
and software licenses owned by Sellers or SRC to the extent transferable to
Buyer, and all communications equipment and software located at any of the
Centers and at 6725 Miami Avenue, Cincinnati, Ohio other than the main Delta
Systems server and the following items to be selected by Sellers: two desktop
PCs; two Toshiba laptop PCs, two printers and one fax machine.

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               1.2 "As Is" Transaction. Buyer hereby acknowledges and agrees
that, except as otherwise expressly provided in this Agreement, Sellers make no
representations or warranties of any kind whatsoever, express or implied, with
respect to any matter relating to the Assets or otherwise relating to any of the
transactions contemplated hereby including, without limitation, any income to be
derived or expenses to be incurred in connection with the Assets or the conduct
of the Business, the physical condition of any tangible Assets or improvements
which are the subject of any Store Leases to be assumed by Buyer at the Closing,
the value of the Assets, the terms or amounts of any Assumed Liabilities, or the
merchantability or fitness of the Assets for any particular purpose.
Accordingly, subject to the representations, warranties and covenants expressly
set forth in this Agreement Buyer shall accept the Assets at the Closing "AS
IS," "WHERE IS" AND "WITH ALL FAULTS."

         2. EXCLUDED ASSETS. Buyer shall not purchase or otherwise acquire from
Sellers, and Sellers shall retain all of their respective rights, titles and
interests in and to: (a) all cash, cash equivalents, bank accounts as of the
Closing Date and securities of Sellers; (b) all causes of action and claims
which Sellers may have under Sections 506, 510, 542 through 551 inclusive and
553 of the Bankruptcy Code; and (c) all assets not specifically enumerated in
Section 1 above.

         3. RETENTION AND ASSUMPTION OF LIABILITIES.

               3.1 Liabilities Retained by Sellers. Subject to Section 3.2
below, and except as otherwise expressly provided in this Agreement, Sellers
shall remain solely and entirely responsible for their own liabilities and Buyer
shall not assume or otherwise be liable for or acquire the Assets subject to,
and Buyer's purchase of the Assets shall not constitute or be deemed to
constitute the assumption of, any liabilities of Sellers whatsoever, whether
direct or indirect, fixed or contingent, disputed or undisputed, liquidated or
unliquidated, known or unknown, recorded or unrecorded.

               3.2 Liabilities Assumed by Buyer. Buyer shall pay and otherwise
perform when due the obligations of Sellers: (a) under the Store Leases and the
Assumed Contracts relating to periods after the Closing Date (as defined in
Section 5 below); and (b) to Sellers' current employees only for post-petition
accrued but unused PTO (paid time-off) including, without limitation, accrued
but unused sick leave, family leave and vacation time for those employees that
Buyer, in the exercise of its sole judgment, elects to employ as provided in
Section 3.3 below (collectively the "Assumed Liabilities").

               3.3 Sellers' Employees. Buyer shall have the right, but not the
obligation, to employ any present employee of Sellers or SRC. Buyer shall have
no responsibility or liability as a result of Buyer's acquisition of the Assets,
or its employment of any such employees, with respect to contributions to or
obligations for any of Sellers' or SRC's employee benefit plans, any
multi-employer pension plan to which Sellers or SRC may contribute or, except as
provided in Section 3.2 above, any other liability or employee fringe benefit of
Sellers or SRC which is due or unsatisfied as of the Closing.

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         4. PURCHASE PRICE.

               4.1 Amount. The purchase price for the Assets shall be: (a)
$1,844,856, which shall be allocated as follows:

<Table>
<S>                                                              <C>
                     Inventory                                   $   750,000
                     FFE                                         $   240,000
                     Accounts Receivable                         $   425,000
                     Store Leases and Assumed Contracts          $   200,000
                     Intellectual Property and
                        Books and Records                        $   229,856
                                                                 -----------
                                                                 $ 1,844,856
</Table>

plus (b) the Assumed Liabilities.

               4.2 Reporting. The purchase price for the Assets shall be
allocated for federal income tax purposes in accordance with Section 4.1 above
and IRS Form 8594 required to be filed under Section 1060 of the Internal
Revenue Code of 1986, as amended (the "Code"), in connection with the purchase
and sale of the Assets shall reflect such allocations. Sellers and Buyer shall
file all tax and other returns in a manner consistent with such allocations and
shall take no position contrary thereto.

               4.3 Prorations. All payments from doctors in accordance with the
PC Agreements, all lease and rental charges (including, without limitation, rent
and other amounts payable by Sellers under the Store Leases), and all monthly
utility charges shall be prorated between Sellers and Buyer as of the Closing
Date, with Sellers being responsible for, and entitled to the benefit of, all
such charges and payments relating to periods prior to the Closing Date and
Buyer being responsible for, and entitled to the benefit of, all such charges
and payments, on and after the Closing Date. Should either Sellers or Buyer pay
any such charges for which the other party is responsible, then the responsible
party shall promptly reimburse the other party therefor. Should either Sellers
or Buyer receive any revenues to which the other party is entitled, then such
revenues shall promptly be paid over to the appropriate party.

               4.4 Transfer Taxes. Buyer shall pay all federal, state and local
sales, use, transfer, documentary stamp, conveyance, recording, conveyance and
similar taxes arising out of, in connection with or related to the transactions
contemplated by this Agreement.

         5. CLOSING. The closing of the transactions contemplated by this
Agreement (the "Closing") shall take place within three days of the date the
Court enters the Sale Order or at such other date and time to which the parties
may agree (the "Closing Date"). At the Closing:

               5.1 Buyer's Payments and Deliveries. Buyer shall deliver to
Sellers:

                  (a) the sum of $1,700,000, plus or minus any adjustments
provided for in this Agreement, in immediately available funds by wire transfer
to a bank account designated by Sellers;

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                  (b) a release from J. Howell Kelly of his claim of $144,856
against any of SRC or any of its affiliates including, without limitation,
Sellers;

                  (c) one or more agreements effecting the assumption by Buyer
of the Assumed Liabilities;

                  (d) a certified copy of the consent of the members or managers
or directors of Buyer authorizing and directing Buyer to enter into and perform
its obligations under this Agreement; and

                  (e) such other documents, instruments and deliveries as Seller
reasonably may request.

               5.2 Sellers' Deliveries. Sellers shall deliver to Buyer:

                  (a) a bill of sale conveying all of the Assets to Buyer;

                  (b) one or more agreements effecting Sellers' assignment to
Buyer of the Store Leases and Assumed Contracts;

                  (c) a certified copy of the consent of the boards of directors
of Sellers authorizing and directing Sellers to enter into and perform their
obligations under this Agreement;

                  (d) the Non Competition Agreement (as defined in Section 11
below) executed by Sellers and SRC; and

                  (e) such other documents, instruments and deliveries as Buyer
reasonably may request.

The purchase and sale of the Assets shall be effective at the close of business
for the Centers on the Closing Date (the "Effective Time"). Buyer shall be given
possession of the Assets at the Effective Time. Until the Effective Time, all
employees of Seller shall continue to be its employees, and all business
operations of Sellers shall be for Sellers' account and risk and Sellers shall
bear all risk of loss.

         6. REPRESENTATIONS AND WARRANTIES OF SELLERS. If and only to the extent
that under applicable federal, state or local law the breach of any of the
following representations or warranties would result in, or fail to disclose, a
lien upon or claim against the Assets, or result in a claim against Buyer for a
liability of Sellers (other than the Assumed Liabilities), and subject to their
obligations as debtors-in-possession under the Bankruptcy Code, Sellers hereby
jointly and severally represent and warrant to and covenants with Buyer that:

               6.1 Organization. Each Seller is a corporation duly organized,
validly existing and in good standing under the laws of the State of Delaware
and is the sole owner of its Assets. Subject to its obligations as a
debtor-in-possession under the Bankruptcy Code, each Seller has full authority
and power to carry on the Business as it is now conducted.

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               6.2 Authority and Enforceability.

                  (a) Each Seller has and at the Closing will have all requisite
power, right and authority to enter into this Agreement and to consummate the
transactions contemplated by this Agreement. All action required under
applicable law has been or will be taken by the board of directors of each
Seller to authorize each Seller's execution of, and the consummation of the
transactions contemplated by, this Agreement. This Agreement and each other
agreement and instrument to be executed by each Seller in connection herewith
have been (or upon execution will have been) duly executed and delivered by each
Seller and constitute (or upon execution will constitute) legal, valid and
binding obligations of each Seller enforceable against each Seller in accordance
with their respective terms.

                  (b) All consents, approvals and authorizations and all other
requirements prescribed by any law, rule or regulation which must be obtained or
satisfied by each Seller and which are necessary for the execution and delivery
by each Seller of this Agreement and the documents to be executed and delivered
by each Seller in connection herewith and in order to permit the consummation of
the transactions contemplated by this Agreement have been obtained and satisfied
or will be obtained and satisfied by the Closing.

               6.3 No Violation or Conflict. The execution and delivery of this
Agreement, the consummation of the transactions contemplated hereby and the
fulfillment of the terms hereof will not violate or result in a breach of any of
the terms or provisions of, or constitute a default (or an event which, with
notice or the passage of time, or both, would constitute a default) under, or
conflict with or result in the termination of, or accelerate the performance
required by any: (a) agreement, indenture, contract or other instrument to which
either Seller is a party or by which either Seller or the Assets are bound
except the loan agreements between Sellers and CadleRock Joint Venture, L.P.;
(b) each Seller's Articles of Incorporation; (c) any judgment, decree, order or
award of any court, governmental body or arbitrator by which either Seller or
the Assets are bound; or (d) any law, rule or regulation applicable to Sellers
or the Assets.

               6.4 Title to Assets. Each Seller has good title to, is the sole
lawful owner of, and has the right to use all of its Assets and at the Closing
will transfer the Assets to Buyer free and clear of all liens, mortgages,
leases, pledges, security interests, restrictions, prior assignments,
encumbrances and claims of any kind or nature.

               6.5 Store Leases and Assumed Contracts. Sellers have made all
required post-petition payments under the Store Leases and the Assumed Contracts
and otherwise are in substantial compliance with their post-petition obligations
thereunder. In connection with the Sale Motion (as defined in Section 8.1 below)
and upon the entry of the Sale Order (as defined in Section 8.1 below), Sellers
shall pay pursuant to Section 365 of the Bankruptcy Code all cure amounts
related to the Store Leases and Assumed Contracts so as to enable Sellers to
assume and to assign to Buyer at the Closing the Store Leases and Assumed
Contracts.

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               6.6 Employment Matters.

                  (a) There are: (i) no pending or, to the knowledge of Sellers,
threatened claims by any employee of either Seller (each, an "Employee") or any
person who in the past has worked for either Seller (each, a "Former Employee")
against either Seller, other than for compensation and benefits due in the
ordinary course of employment; and (ii) no pending or, to the knowledge of
Sellers, threatened claims against either Seller arising out of any statute,
ordinance or regulation relating to employment practices or occupational or
safety and health standards. Subject to Section 3.2(b) above, Sellers are and
after the Closing shall remain responsible for all Employee and Former Employee
claims against Sellers arising out of events or transactions occurring prior to
Closing.

                  (b) Schedule 6.6 hereto identifies all Employees on leave of
absence and all Employees and Former Employees and their dependents receiving
health benefits, or eligible to receive health benefits, as required by the
Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA").
Notice of the availability of health care continuation coverage for Employees,
Former Employees and their respective dependents and qualified beneficiaries, in
accordance with the requirements of COBRA, has been provided to all persons
entitled thereto, and all persons electing such coverage are being (or have
been, if applicable) provided such coverage.

               6.7 Employee Benefit Plans. Schedule 6.7 hereto lists all
qualified and non-qualified plans, programs, agreements, commitments and
arrangements maintained by or on behalf of Sellers that provide benefits or
compensation to, or for the benefit of, any Employee or Former Employee (the
"Plans"). To the knowledge of Sellers, all of the Plans are in substantial
compliance with the Employee Retirement Income Security Act of 1974, as amended
("ERISA"), and the Internal Revenue Code. Nothing in this Section 6.7 shall be
construed to create an obligation on the part of the Buyer to assume or succeed
to any obligation of Sellers under Sellers' Plans or to continue such Plans for
any of those employees of Sellers that Buyer elects to employ in accordance with
Section 3.3 hereof and Sellers are and after Closing shall remain responsible
for continuation or termination of such Plans as they shall elect.

               6.8 Taxes. Except as disclosed on Schedule 6.8 hereto, to the
knowledge of Sellers they have collected or withheld, and has paid over to the
proper governmental authorities, all federal, state and local sales taxes, local
real estate taxes, local personal property taxes, employment taxes, and workers
compensation premiums. Sellers are and after the Closing shall remain
responsible for all federal, state and local taxes, employment taxes and workers
compensation premiums attributable to Sellers' ownership of the Assets and
operation of the Business prior to the Closing.

               6.9 Litigation. Except as disclosed on Schedule 6.9, to the
knowledge of Sellers there is no action, suit, proceeding or investigation to
which either Seller or any Center is a party (either as a plaintiff or
defendant) presently pending, nor has any such action, suit, proceeding or
investigation been pending at any time during the past two years, before any
court or governmental agency, authority or body or arbitrator; to the knowledge
of Sellers, there is no action, suit, proceeding or investigation threatened
against either Seller and, to the knowledge of Sellers, there is no basis for
any such action, suit, proceeding or investigation.

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               6.10 Compliance with Law. To the knowledge of Sellers, they are
in substantial compliance with all laws, regulations, rules, permits, zoning
requirements, authorizations, licenses and certificates required under
applicable law for the conduct of the Business. To the knowledge of Sellers: (a)
no default or violation, or event that with the lapse of time or the giving of
notice, or both, would become a default or violation, has occurred in its
compliance with each such law, regulation, rule, permit, authorization, license
and certificate; and (b) no action has been taken or recommended by any
governmental, regulatory or administrative official, agency or authority, to
revoke, withdraw or suspend any authorization, license or certificate necessary
for Sellers to own the Assets or to operate the Business.

               7. REPRESENTATIONS AND WARRANTIES OF BUYER. Buyer represents and
warrants to and covenants with Sellers that:

                  7.1 Organization. Buyer is a corporation duly organized,
validly existing and in good standing under the laws of the Commonwealth of
Massachusetts and prior to the closing will be qualified to do business in the
States of New Hampshire and Rhode Island. Buyer will have full power and
authority to carry on its business as it is now conducted.

               7.2 Authority and Enforceability.

                  (a) Buyer has and at the Closing will have all requisite
power, right and authority to enter into, and to consummate the transactions
contemplated by, this Agreement. All action required under applicable law has
been taken by the members or managers of Buyer to authorize Buyer's execution
of, and the consummation of the transaction contemplated by, this Agreement.
This Agreement and each other agreement and instrument to be executed by Buyer
in connection herewith has been (or upon execution will have been) duly executed
and delivered by Buyer and constitute (or upon execution will constitute) legal,
valid and binding obligations of Buyer enforceable against Buyer in accordance
with their respective terms.

                  (b) All consents, approvals and authorizations and all other
requirements prescribed by any law, rule or regulation which must be obtained or
satisfied by Buyer and which are necessary for the execution and delivery by
Buyer of this Agreement and the documents to be executed and delivered by Buyer
in connection herewith and in order to permit the consummation of the
transactions contemplated by this Agreement have been obtained and satisfied or
shall be obtained and satisfied by Closing.

               7.3 No Violation or Conflict. The execution and delivery of this
Agreement, the consummation of the transactions contemplated hereby and the
fulfillment of the terms hereof will not violate or result in a breach of any of
the terms or provisions of, or constitute a default (or any event which, with
notice or the passage of time, or both, would constitute a default) under, or
conflict with or result in the termination of, or accelerate the performance
required by: (a) any agreement, indenture or other instrument to which Buyer is
a party or by which it is bound; (b) Buyer's articles of organization or
operating agreement; (c) any judgment, decree, order or award of any court,
governmental body or arbitrator by which Buyer is bound; or (d) any law, rule or
regulation applicable to Buyer.

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               8. COVENANTS.

                  8.1 Bankruptcy Court Approval.

                  (a) Promptly after the execution of this Agreement by the
parties, Sellers and SRC shall file with the Bankruptcy Court a motion (the
"Sale Motion") which asks the Bankruptcy Court to enter, unless Sellers and SRC
receive a higher and better offer for the Assets in accordance with Section
8.1(b) below, an order (the "Sale Order"): (i) approving this Agreement as the
highest and best offer for the Assets and the transactions contemplated hereby
in accordance with Section 363 of the Bankruptcy Code and finding, among other
things, that Buyer is a good faith purchaser for value entitled to the
protections of Section 363(m) of the Bankruptcy Code, (ii) approving the sale
of, and authorizing Sellers and SRC to transfer to Buyer, the Assets free and
clear of any and all liens (other than liens that Buyer has agreed to permit or
assume hereunder or hereafter) pursuant to Section 363(f) of the Bankruptcy
Code; and (iii) approving the assumption by Sellers and SRC and assignment to
Buyer of the Store Leases and Assumed Contracts and authorizing the payment by
Sellers and SRC of all cure amounts due the other parties to such agreements.
The forms of the Sale Motion and the Sale Order shall be acceptable to Sellers,
SRC and Buyer to their reasonable satisfaction.

                  (b) The Sale Motion also shall ask the Bankruptcy Court to
schedule a hearing on the Sale Motion on the first available date and to order
that at such hearing any person or entity (including Buyer) may make a higher
and better offer for the Assets provided: (i) any such offer as determined by
Sellers and SRC is on substantially the same terms and subject to the same
conditions set forth in this Agreement; (ii) any such person or entity (other
than Buyer) provides Sellers and SRC a $150,000 cash deposit which shall be
applied as a credit against the purchase price if such person or entity is the
successful bidder; (iii) any such initial offer is at least $100,000 more than
the cash portion of the purchase price set forth in Section 4.1(a) above; and
(iv) any such subsequent offer is at least $50,000 more than the immediately
preceding offer; and (v) any such person or entity provides evidence
satisfactory to Sellers and SRC verifying that the offeror has the ability to
provide the full amount of the purchase price to Sellers and SRC in immediately
available funds at the Closing.

                  (c) The Sale Motion also shall ask that the Bankruptcy Court
order the Sellers and SRC to reimburse Buyer for the actual out of pocket costs
and expenses incurred by Buyer with financial consultants, accountants and legal
counsel in relation to the transaction set forth herein if any person or entity
other than Buyer is the successful bidder. Reimbursement shall be limited to the
lesser of Buyer's actual expenses or $50,000.

                  (d) Subject to Section 12.1(c) below, Sellers and SRC shall
use their good faith best efforts to prosecute the Sale Motion to a successful
conclusion and otherwise comply with all applicable requirements of the
Bankruptcy Code and the Bankruptcy Rules applicable thereto.

               8.2 Due Diligence. From the date of this Agreement through the
Closing Date, Sellers and SRC shall provide Buyer and its representatives and
agents full access at all reasonable times to the Assets and the operation of
the Business, cause Sellers' and SRC's representatives to furnish Buyer with
such financial and operating data and other information in

                                      -9-
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Sellers' and SRC's possession or control with respect to the Assets and the
Business as Buyer shall from time to time reasonably request so as to permit
Buyer to conduct prior to the Closing a complete due diligence investigation of
the Assets and the Business; provided that such investigation: (a) shall be
conducted in such manner as not to interfere unreasonably with Sellers'
operation of the Business; and (b) shall not affect any of the representations
and warranties of Sellers hereunder.

               8.3 Conduct of the Business. Subject to their obligations as
debtors-in-possession under the Bankruptcy Code, from the date of this Agreement
through the Closing Sellers and SRC shall not (except with the prior written
consent of Buyer): (a) enter into any material transaction not in the ordinary
course of the Business; (b) sell or transfer any of the Assets except for sales
in the ordinary course of the Business of inventory or immaterial amounts of
other tangible personal property not required in the Business; (c) mortgage,
pledge or encumber any of the Assets, except liens for taxes not yet due and
payable, and existing lender indebtedness; (d) amend, modify or terminate any
Store Lease or Assumed Contract; or (e) make any increase in, or any commitment
to increase, the benefits or compensation payable to any of its employees or
agents.

               8.4 Closing Conditions. Prior to the Closing, Sellers and SRC
shall use their best efforts to obtain any necessary third party consents to the
transfer of the Store Leases and Assumed Contracts and otherwise to assist Buyer
in the satisfaction of all of Buyer's other conditions of Closing set forth in
Section 9.2 below.

         9. CONDITIONS TO CLOSING.

               9.1 Conditions to Obligations of Each Party. The obligations of
Buyer and Sellers to consummate the transactions contemplated hereby shall be
subject to the fulfillment, on or prior to the Closing Date, of the following
conditions:

                  (a) The Bankruptcy Court shall have entered the Sale Order in
form and substance to the reasonable satisfaction of Sellers and Buyer; and

                  (b) No other claim, action, suit, investigation or other
proceeding brought by any governmental agency or other party shall be pending or
threatened before any court or governmental agency which seeks to enjoin,
restrain, prohibit, restrict or limit the consummation of the transactions
contemplated by this Agreement or Buyer's unrestricted right to own the Assets
and to operate the Business after the Closing, or to recover damages from Buyer
or Sellers, or other relief, in connection therewith.

               9.2 Conditions to Obligations of Buyer. The obligations of Buyer
to consummate the transactions contemplated hereby shall be subject to the
fulfillment, at or prior to the Closing, of the following additional conditions:

                  (a) The representations and warranties of Sellers contained in
this Agreement or in any other document delivered by Sellers to Buyer pursuant
hereto shall have been true and correct as of the date of this Agreement or when
otherwise given and shall be true and correct on the Closing Date as if made on
the Closing Date;

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                  (b) Each of the obligations of Sellers to be performed by them
on or before the Closing Date pursuant to the terms of this Agreement shall have
been duly performed by them on or before the Closing Date;

                  (c) All actions required to be taken by, or on the part of,
Sellers to authorize the execution, delivery and performance of this Agreement
and the consummation of the transactions contemplated hereby shall have been
duly and validly taken by Sellers;

                  (d) Between the date of this Agreement and the Closing Date
there shall not have occurred any damage or destruction of, or loss to, any of
the Assets, whether or not covered by insurance, which has had or may reasonably
be expected to have a material and adverse effect on the Business or any
prospects of the Business; and

                  (e) All legal matters and the form and substance of all
documents to be delivered to Buyer shall have been approved by Buyer's counsel.

               9.3 Conditions to Obligations of Sellers. The obligations of
Sellers to consummate the transactions contemplated hereby shall be subject to
the fulfillment, at or prior to the Closing Date, of the following additional
conditions:

                  (a) The representations and warranties of Buyer contained in
this Agreement or in any other document delivered by Buyer to Sellers pursuant
hereto shall have been true and correct in all material respects as of the date
of this Agreement or when otherwise given and shall be true and correct in all
material respects on the Closing Date with the same effect as if made on the
Closing Date;

                  (b) Each of the obligations of Buyer to be performed by it on
or before the Closing Date pursuant to the terms of this Agreement shall have
been duly performed by it on or before the Closing Date; and

                  (c) All legal matters and the form and substance of all
documents to be delivered to Sellers shall have been approved by Sellers'
counsel.

         10. POST-CLOSING ACCESS. Sellers shall have the right for a period of
three years following the Closing Date to reasonable access to the Books and
Records transferred to Buyer pursuant to the terms of this Agreement (including,
without limitation, remote access to the Microsoft Exchange Server and the
Payroll Server) for the limited purposes of concluding its involvement in the
Business after the Closing Date and obtaining information reasonably necessary
in connection with any income or other tax issues.

         11. NON-COMPETITION. Sellers and SRC shall enter into a non-competition
agreement prohibiting the ownership, operation, or participation in any manner
by Sellers, SRC and/or other subsidiaries or affiliates of SRC in any retail eye
glass store in competition with Buyer in the Commonwealth of Massachusetts, the
State of New Hampshire and the State of Rhode Island for a three (3) year period
commencing on the Effective Time (the "Non-Competition Agreement'). "Affiliate"
as used in this Section 11, means any entity who controls, is controlled by, or
is under common control with Sellers or SRC.

                                      -11-
<PAGE>

         12. TERMINATION; REMEDIES.

               12.1 Termination Requiring Notice. This Agreement and the
transactions contemplated hereby may be terminated at any time prior to Closing
by written notice delivered by Sellers to Buyer or by Buyer to Sellers, as the
case may be, in the following instances:

                  (a) By Buyer if there has been a misrepresentation, a breach
of warranty or a failure to comply on the part of Sellers with respect to any of
the representations, warranties, covenants or provisions set forth herein (or
delivered in any other document pursuant hereto).

                  (b) By Sellers if there has been a misrepresentation, a breach
of warranty or a failure to comply with any covenant on the part of Buyer with
respect to the representations, warranties or covenants set forth herein (or
delivered in any other document pursuant hereto).

                  (c) By Sellers if Sellers receive at the Sale Hearing a higher
and better offer to purchase all or substantially all of the Assets which offer,
taken as a whole, Sellers determine in their sole discretion to be in the best
interests of Sellers and their creditors.

                  (d) At any time prior to Closing by the mutual consent in
writing of Sellers and Buyer.

               12.2 Termination Without Notice. This Agreement and the
transactions contemplated hereby shall automatically terminate without notice if
the Closing does not occur on or before April 15, 2005.

               12.3 Liability in the Event of Termination; Remedies.

                  (a) In the event of termination of this Agreement and the
transactions contemplated hereby pursuant to Sections 12.1(a) or (b) above, the
non-breaching party may avail itself of all rights, powers and remedies now or
hereafter existing at law or in equity or by statute or otherwise.

                  (b) In the event of termination of this Agreement and the
transactions contemplated hereby pursuant to Sections 12.1(c), 12.1(d) or 12.2
above, this Agreement shall become void and have no further effect, without any
liability on the part of any party hereto except as otherwise provided in the
Sale Motion.

         13. MISCELLANEOUS.

               13.1 Entire Agreement. This Agreement (including all Exhibits and
Schedules hereto) supersedes any and all other agreements, oral or written,
between the parties hereto with respect to the subject matter hereof and
contains the entire agreement between such parties with respect to the
transactions contemplated hereby.

               13.2 Amendments. This Agreement shall not be modified or amended
except by an instrument in writing signed by or on behalf of all of the parties
hereto.

                                      -12-
<PAGE>

               13.3 Successors and Assigns. This Agreement and all of the
provisions hereof shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and permitted transferees and assignees.

               13.4 Assignment. Neither this Agreement nor any interest herein
may directly or indirectly be transferred or assigned by any party, in whole or
in part, without the written consent of the other parties except that Buyer may
assign its rights and obligations under this Agreement to an affiliated
corporation or limited liability company.

               13.5 Notices. All notices, requests, demands, and other
communications which may or are required to be delivered hereunder shall be in
writing and shall be delivered by hand delivery, by facsimile transmission
(receipt confirmed), by express mail service, or by registered or certified
mail, postage prepaid, at or to the following addresses:

                           If to Seller:

                                    Sight Resource Corporation
                                    c/o Louis F. Solimine, Esq.
                                    Thompson Hine LLP
                                    Suite 1400
                                    312 Walnut Street
                                    Cincinnati, Ohio  45202
                                    Fax:  (513) 241-4771

                           If to Buyer:

                                    J. Howell Kelly
                                    17 Pease's Point Way N
                                    Edgartown, Massachusetts  02539
                                    Fax:  (508) 627-1218

                           with a copy to:

                                    Daniel C. Cadle
                                    100 North Center Street
                                    Newton Falls, Ohio  44444
                                    Fax:  (330) 872-5367

or to such other address or to such other person as any party shall have last
designated by written notice to the other parties. Notices, requests, demands,
and other communications so delivered shall be deemed given upon receipt.

               13.6 Waiver. If any party expressly waives in writing an
unsatisfied condition, representation, warranty, undertaking, covenant or
agreement (or portion thereof) set forth herein, the waiving party shall
thereafter be barred from recovering, and thereafter shall not seek to recover,
any damages, claims, losses, liabilities or expenses, including, without
limitation, legal and other expenses, from the other parties in respect of the
matter or matters so waived.

                                      -13-
<PAGE>

               13.7 Severability. If any term or provision of this Agreement or
any application thereof shall be invalid or unenforceable, the remainder of this
Agreement and any other application of such term or provision shall not be
affected thereby.

               13.8 No Third Party Beneficiary. This Agreement is for the
benefit of, and may be enforced only by, Sellers and Buyer, and their respective
successors and permitted transferees and assignees, and is not for the benefit
of, and may not be enforced by, any third party.

               13.9 Expenses. Subject to Section 4.4 above, each party hereto
shall bear and pay all costs and expenses incurred by it in connection with the
transactions contemplated by this Agreement including, without limitation, fees,
costs and expenses of its own financial consultants, accountants and counsel.

               13.10 Applicable Law. This Agreement shall be governed by and
construed and enforced in accordance with, the laws of the State of Delaware.

               13.11 Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be an original but all of which together
shall constitute one and the same instrument.

         IN WITNESS WHEREOF, the parties hereto have executed this Asset
Purchase Agreement as of the date first hereinabove set forth.

SELLERS:                                BUYER:

CAMBRIDGE EYE ASSOCIATES, INC.          CAMBRIDGE EYE DOCTORS/VISION WORLD, INC.
                                        ----------------------------------------

By: /s/ DALE W. FULLER                  By: /s/ DANIEL C. CADLE
   ---------------------------------       -------------------------------------

Title: President                        Title: Daniel C. Cadle, President
      ------------------------------          ----------------------------------

DOUGLAS VISION WORLD, INC.              SIGHT RESOURCE CORPORATION

By: /s/ DALE W. FULLER                  By: /s/ DALE W. FULLER
   ---------------------------------       -------------------------------------

Title: President                        Title: President
       -----------------------------          ----------------------------------

                                      -14-
<PAGE>

            CAMBRIDGE EYE ASSOCIATES, INC./DOUGLAS VISION WORLD, INC.
                            ASSET PURCHASE AGREEMENT
                                    EXHIBIT A

                                FIXED ASSET LISTS

<PAGE>

            CAMBRIDGE EYE ASSOCIATES, INC./DOUGLAS VISION WORLD, INC.
                            ASSET PURCHASE AGREEMENT
                                    EXHIBIT B

                                  STORE LEASES

<Table>
<Caption>
Store #
-------------------
<S>    <C>                    <C>                               <C>                        <C>            <C>
1      Vision World           1400 OAKLAWN AVE.                 CRANSTON                    RI            02920
2      Vision World           1925 PAWTUCKET AVE.               E. PROVIDENCE               RI            02914
4      Vision World           1663 MINERAL SPRING               N. PROVIDENCE               RI            02904
                              AVE.
5      Vision World           401 WEST MAIN ROAD                MIDDLETOWN                  RI            02842
6      Vision World           553 KINGSTOWN ROAD                WAKEFIELD                   RI            02879
7      Vision World           228 ATWOOD AVE.                   CRANSTON                    RI            02920
101    Cambridge Eye          1168 MASSACHUSETTS                CAMBRIDGE                   MA            02138
                              AVE.
102    Cambridge Eye          726-1/2 BELOMONT                  BROCKTON                    MA            02301
                              STREET
103    Cambridge Eye          490 Lincoln Street                Worcester                   MA            01605
104    Cambridge Eye          303 WORCESTER RD.                 FRAMINGHAM                  MA            01701
105    Cambridge Eye          139 ENDICOTT RD.                  DANVERS                     MA            01923
106    Cambridge Eye          490 Lincoln Street                Worcester                   MA            01605
107    Cambridge Eye          325 STATE ROAD                    N. DARTMOUTH                MA            02747
109    Cambridge Eye          700 BOSTON ROAD                   BILLERICA                   MA            01821
110    Cambridge Eye          482 SOUTHERN ARTERY               QUINCY                      MA            02169
111    Cambridge Eye          181 FALMOUTH ROAD                 HYANNIS                     MA            02601
112    Cambridge Eye          1623 Beacon Street                BROOKLINE                   MA            02445
113    Cambridge Eye          ONE HIGHLAND AVE.                 MALDEN                      MA            02148
                              STE 3B
114    Cambridge Eye          RT. 139                           PEMBROKE                    MA            02359
                              STE 160
116    Cambridge Eye          751 Providence HGWY               Dedham                      MA            02026
117    Cambridge Eye          3 Mt. Auburn St                   Watertown                   MA            02172
                              Suite 2
118    Cambridge Eye          346 South Broadway                Salem                       NH            03079
121    Cambridge Eye          230 FRANKLIN VILLAGE              FRANKLIN                    MA            02038
                              DR.
122    Cambridge Eye          100 STATE STREET                  BOSTON                      MA            02109
123    Cambridge Eye          17 DAVIS STRAITS RD.              FALMOUTH                    MA            02540
</Table>

<PAGE>

Subleases:

Sublease dated March 1, 1998 between Cambridge Eye Doctors and Little Tibet for
premises located at 1174 Massachusetts Ave., Cambridge, Ma. Note rent being paid
by tenant is not in agreement with lease terms. Verbal agreement is in place.

Sublease dated January 12, 1999 between Sight Resource Corporation and
Enterprise Rent-A-Car Company of Rhode Island for premises located at 325 State
Road, North Dartmouth, Ma.

Sublease dated March 19, 1999 between Sight Resource Corporation and New England
Mobile Communications for premises located at 325 State Road, North Dartmouth,
Ma.

<PAGE>

            CAMBRIDGE EYE ASSOCIATES, INC./DOUGLAS VISION WORLD, INC.
                            ASSET PURCHASE AGREEMENT
                                    EXHIBIT C

                                ASSUMED CONTRACTS

Harvard Pilgrim Health Care, Inc.

Commonwealth of Massachusetts NAGE Health and Welfare Trust Fund

Management Agreement between Optometric Care, Inc. and Douglas Vision World,
  Inc.

Management Agreement between Optomoetric Providers, Inc. and CEA Acquisition
  Corp.

Agreement with Dr. Leonard Bertoli (OPI)

Agreement with Dr. Linda Wise (OPI)

Agreement with Dr. Timothy Sajban (OPI)

Agreement with Dr. Steven Stronjy (OPI)

Agreement with Dr. David Tabai (OPI)

Agreement with Dr. Bruce Rakusin (OPI)

Agreement with Dr. Christopher Joseph (OPI)

Agreement with Dr. M. Pamela Pearson (OPI)

Agreement with Dr. James Casey (OPI)

Agreement with Dr. Rosali Rezelbach (OPI)

Agreement with Dr. Michael Iannuccilli (OCI)

Agreement with Dr. Stephen Ide (OCI)

<PAGE>

            CAMBRIDGE EYE ASSOCIATES, INC./DOUGLAS VISION WORLD, INC.
                            ASSET PURCHASE AGREEMENT

                                    EXHIBIT D

                            EXCLUDED PREPAID EXPENSES

All trade vendor prepayments

<PAGE>

            CAMBRIDGE EYE ASSOCIATES, INC./DOUGLAS VISION WORLD, INC.
                            ASSET PURCHASE AGREEMENT
                                  SCHEDULE 6.6

EMPLOYEES ON LEAVE OF ABSENCE, COBRA, ELIGIBLE FOR COBRA OR INVOLVED WITH
WORKERS COMPENSATION CLAIM AND OTHER CLAIMS:

Debra Gomes-Platt - Vision World Workers Comp (Jan. 3rd slip and fall- still
working)

Elaine Kennedy- Cambridge Eye Has filed for Short Term disability to begin May
6, 2005 and return to work July 5, 2005 for maternity leave.

Dr. Alerino Iacobbo- Head of both OD professional corporations. He serves in an
administrative capacity only, does not actively practice optometry, and is not
on the payroll. He is a participant on the OD group health Dental Plan and pays
employee rates.

The State of New Hampshire notified Cambridge Eye Doctor in July 2004 that its
store located at 346 Broadway, Salem, NH. was in violation of State pay
requirements because pay checks were being issued bi-weekly without permission
from the State.

<PAGE>

            CAMBRIDGE EYE ASSOCIATES, INC./DOUGLAS VISION WORLD, INC.
                             SSET PURCHASE AGREEMENT
                                  SCHEDULE 6.7

Employee Benefit Plans

     1)   Sight Resource Corporation 401(k) Plan (unaudited)

     2)   Dental Insurance Plan (Met Life)

     3)   Health Insurance Plan (GISC- associates, UHC- ODs)

     4)   Basic term life insurance (Met Life)

     5)   Short Term Disability (Met Life)

     6)   Long Term Disability (Met Life)

<PAGE>

            CAMBRIDGE EYE ASSOCIATES, INC./DOUGLAS VISION WORLD, INC.
                            ASSET PURCHASE AGREEMENT
                                  SCHEDULE 6.8

                                      Taxes

Sellers have not filed Federal, State or local taxes since 2001

<PAGE>

            CAMBRIDGE EYE ASSOCIATES, INC./DOUGLAS VISION WORLD, INC.
                            ASSET PURCHASE AGREEMENT
                                  SCHEDULE 6.9

                        INTELLECTUAL PROPERTY LITIGATION

Vision World LLC v. Sight Resource Corporation, Case No. 1:05CV106 (S.D. Ohio)Exhibit 10.18

 

Exhibit 10.18

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Wuxi Enzyme Factory as Transferor

and

Genencor Mauritius Ltd. as Transferee

and

Genencor (Wuxi) Bio-Products Co., Ltd.

AGREEMENT FOR TRANSFER OF EQUITY INTEREST

November 30, 2004

 

 

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AGREEMENT FOR TRANSFER OF EQUITY INTEREST

     THIS AGREEMENT FOR TRANSFER OF EQUITY INTEREST is made by and among the following Parties
after friendly consultation on the basis of principles of equality and mutual benefit:

	 	 	 
	Transferor:

	 	Wuxi Enzyme Factory
	

	 	25 Tonghui Road West
	

	 	Wuxi City, Jiangsu Province
	

	 	The People’s Republic of China, 214035
	

	 	Fax: (0510) 370-9726
	

	 	Legal Representative:     Weidong Huang, Director
	

	 	 
	

	 	(hereinafter referred to as “Party A” or “WEF”);
	

	 	 
	Transferee:

	 	Genencor Mauritius, Limited
	

	 	c/o Genencor International, Inc.
	

	 	200 Meridian Centre Blvd
	

	 	Suite 300
	

	 	Rochester, New York 14618
	

	 	U. S. A.
	

	 	Fax:(001-585) 244-2806
	

	 	Legal Representative:     John J. Gell, Director
	

	 	 
	

	 	(hereinafter referred to as “Party B” or Genencor); and
	

	 	 
	Company:

	 	Genencor (Wuxi) Bio-Products Co., Ltd.
	

	 	27 Tonghui Road West
	

	 	Wuxi City, Jiangsu Province
	

	 	The People’s Republic of China, 214035
	

	 	Fax:(0510) 370-9726
	

	 	Legal Representative:     John J. Gell, Chairman
	

	 	 
	

	 	(hereinafter referred to as “Party C” or the “JV”);

(Party A, Party B and Party C are hereinafter referred to collectively as the “Parties” and
individually as a “Party”).

RECITALS

WHEREAS, Party A and Synder, Inc., a California, United States corporation (“Synder”) entered
into certain Equity Joint Venture Contract on September 11, 1992, whereby Party A and Synder
jointly invested in and established a China-Foreign joint venture limited liability company under
the law of PRC, as approved by Wuxi Foreign Investment Administration Commission (“Wuxi FIAC”) on
September 22,

  1

 

 

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1992 [waijingmao — sufuzizi (1992) 5488], and a business license was issued by Wuxi branch of
the State Administration of Industry and Commerce (“Wuxi SAIC”) on September 28, 1992.

WHEREAS, Party A and Synder entered into certain Amendments to the Joint Venture Contract and
Amendments to Articles of Association on July 3, 1996 to decrease its registered capital from [ * *
* ] to [ * * * ] and adjust the number of directors each party appoints to the board.

WHEREAS, Party B and Synder entered into certain Joint Venture Equity Purchase Agreement on May 8,
1998, whereby Synder transferred to Party B all of its 25% equity interests in Party C. The
transfer (“Synder Transfer”) was approved by Wuxi FIAC on
June 18, 1998 [(98) Xi Wai Guan Wei Zi Zi No. 128], and was registered with (Wuxi SAIC) on June 29, 1998.

WHEREAS, Party A and Party B entered into certain Equity Interest Transfer Agreement on May 10,
1998, whereby Party A transferred to Party B part of its equity interests in Party C. The transfer,
together with Synder transfer, and certain duly executed Amended and Restated Equity Joint Venture
Agreement and Amended and Restated Articles of Association were approved by Wuxi FIAC and
registered with Wuxi SAIC.

WHEREAS, Party A and Party B entered into certain Agreement for the First Amendment to the Amended
and Restated Equity Joint Venture Contract and First Amendments to the Amended and Restated
Articles of Association to increase the Registered Capital from [ * * * ] to [ * * * ], and as a
result, the equity ratio between Party A and Party B has been adjusted to 15.15% for WEF, and
84.85% for Genencor. The amendments and capital increase contemplated thereby were approved by Wuxi
FIAC [waijingmao — sufuzizi (2003) 5844] and registered with Wuxi SAIC.

WHEREAS, Party A intends to transfer all of its 15.15% equity interest in Party C, and Party B
intends to purchase such equity interest.

NOW THEREFORE, the Parties hereto have reached the following agreement in accordance with Chinese
laws and regulations and through friendly consultation and in conformity with the principle of
“equality and mutual benefit”.

AGREEMENT

Article 1. Definitions.

The following terms, when used in capitalized form in this Agreement, shall have the meanings
indicated in this Article 1. Other terms are defined elsewhere in this Agreement.

	(1)  	“Affiliate” shall have the meaning set forth in Article 2.
	 
	(2)  	“Agreement” means this Agreement for Transfer of Equity Interest and all Appendices
referenced herein.

  2

 

 

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	(3)  	“Articles of Association” means the Articles of Association of Party C dated September 11,
1992, as amended by Amendments to Articles of Association dated July 3, 1996, and May 10,
1998, and was replaced in its entirety by certain Amended and Restated Articles of Association
dated May 10, 1998 by Party A and Party B, which was further amended by certain Agreement for
the First Amendment to the Amended and Restated Equity Joint Venture Contract and First
Amendment to the Amended and Restated Articles of Association (“Agreement for First
Amendment”).
	 
	(4)  	“Assumed Obligations” means Party A’s liabilities and obligations under the Articles of
Association.
	 
	(5)  	“WUXI FIAC ” means Wuxi Foreign Investment Administration Commission, the approving authority
duly designated by the Ministry of Commerce of the People’s Republic of China.
	 
	(6)  	“Closing” shall have the meaning set forth in Article 7.
	 
	(7)  	“Employment Status Date” shall have the meaning set forth in Article 8(6).
	 
	(8)  	“Encumbrances” means any and all liens, claims, interests, options, rights of first offer or
refusal, pre-emptive rights or prior transfers, agreements to provide any of the foregoing,
and any other restriction or limitation of any nature whatsoever affecting the Transferred
Interest.
	 
	(9)  	“Joint Venture Contract” means certain Equity Joint Venture Contract entered into by and
between Party A and Synder dated September 11, 1992, as amended by Amendments to the Joint
Venture Contract dated July 3, 1996, and May 10, 1998, and was replaced in its entirety by
certain Amended and Restated Joint Venture Contract dated May 10, 1998 by Party A and Party B,
which was further amended by Agreement for First Amendment.
	 
	(10)  	“PRC” means The People’s Republic of China.
	 
	(11)  	“Registered Capital” means the registered capital of Party C, which is [ * * * ], all of
which has been paid in (see business license of Party C, attached hereto as Exhibit A).
	 
	(12)  	“Transferred Interest” means all of Party A’s right, title and interest in and to Party C
and in, to and under the JV Contract and the Articles of Association, and including, without
limitation, Party A’s 15.15% equity ownership interest in the Registered Capital of Party C,
and including, further, any loans or other obligations owing by Party C to Party A, if any.
	 
	(13)  	“WFOE” means wholly foreign owned enterprise.
	 
	(14)  	“Wuxi SAIC” shall have the meaning set forth in Recitals.

  3

 

 

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Article 2. Transfer. Party A hereby agrees to sell, convey and deliver to Party B, and,
subject only to the conditions expressly set forth in this Agreement, does by this document sell,
convey and deliver to Party B, the Transferred Interest, free and clear of all Encumbrances; and
Party B agrees to accept and pay for such transfer and to assume the Assumed Obligations, all in
accordance with the terms and conditions of this Agreement (the transfer by Party A of the
Transferred Interest and the assumption by Party B of the Assumed Obligations are together referred
to herein as the “Transfer”). Subject to necessary government approvals, Party B may assign its
right to receive the transfer of the Transferred Interest to an Affiliate. For the purpose of this
agreement, the term “Affiliate” of Party B shall mean any corporation or legal entity that (i)
controls; (ii) is controlled by; or (iii) under the common control with Party B.

Article 3. Purchase Price . In exchange for the Transferred Interest, Party B shall pay
or cause to be paid to or on behalf of Party A (as directed by Party A) a purchase price in the
amount of [ * * * ] (“Purchase Price”), which is equivalent to Renminbi [ * * * ], converted in
accordance with the median of buying and selling rates as of the signing date of this Agreement, in
the manner and at the times provided in Article 4.

Article 4. Payment of Purchase Price . The Purchase Price shall be paid in immediately
available fund at the Closing, as such term being defined in Article 7.

Article 5. Taxes and Fees .

Each Party shall be responsible for the payment of any taxes imposed on such Party as a result
of the Transfer. Party B shall pay all fees imposed in connection with the governmental approvals
required in connection with the Transfer. Each Party shall be responsible for its own professional
and other third party and internal expenses incurred in connection with the negotiation and
performance of this Agreement.

Article 6. Conditions Precedent . The Closing of Transfer is subject to the fulfillment (or
written waiver executed by Party B) of the following conditions precedent:

	(1)  	unanimous approval of the Transfer and of the terminations and amendments identified in
paragraph (5) by the board of directors of Party C substantially in the form attached hereto
as Exhibit B;
	 
	(2)  	approval of or consent to the Transfer (including the Purchase Price and payment terms
therefor) and of the terminations and amendments identified in paragraph (4) by the board of
directors of Party A or equivalent decision-making body and by the appropriate governmental
authority in charge of Party A;
	 
	(3)  	approval of the Transfer (including the Purchase Price and payment terms therefor) and of the
terminations and amendments identified in paragraph (5) by the senior management of Party B;

4

 

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	(4)  	verification of the assets evaluation report for the equity interest to be transferred and
any approval, confirmation, consent and documents as required by the Approving Authority in
giving the approval as specified in paragraph (6) of this Article, by Wuxi Bureau of Finance
or any appropriate authority as designated by the State Assets Supervision and Administration
Commission of the People’s Republic of China;
	 
	(5)  	execution by the Parties of an instrument formally terminating the JV Contract, in
substantially the form set forth in Exhibit C, and any necessary amendments to the Articles of
Association and other necessary government documents formally removing Party A as a party
thereto;
	 
	(6)  	approval by the Wuxi Foreign Investment Administration Commission (“Wuxi FIAC”), which
originally approved the establishment of the joint venture of: (a) the Transfer (including the
approval of an affiliate of Party B as the recipient of the Transfer, should Party B so
decide); (b) all amendments to the JV Contract and Articles of Association; and (c)
establishment of Party C as a WFOE; and the issuance by Wuxi FIAC of an amended approval
certificate reflecting such approvals, as well as the approval of any other governmental
authority necessary in order to consummate the contemplated transaction;
	 
	(7)  	issuance to Party C of an amended business license by the Wuxi branch of the State
Administration of Industry and Commerce or its relevant local office, confirming that Party C
is a WFOE, wholly owned by Party B;
	 
	(8)  	execution and delivery to Party C of letters by the person appointed by Party A to the
board of directors of Party C resigning as director effective on the Closing Date, in the form
attached hereto as Exhibit D.

Article 7. Closing of the Transaction .

	(1)  	The consummation of the Transfer shall take place within forty-five (45) days following the
satisfaction of the conditions set forth in Article 6 or at such other time and place as the
Parties may agree in writing (the “Closing Date”). On the Closing Date, Party A shall deliver
to Party C evidence of the approvals described in paragraphs (2) and (4) of Article 6 and the
documents described in paragraphs (5) and (8) of Article 6, and Party B shall provide for the
payment of the Purchase Price in full.
	 
	(2)  	Effective on the Closing Date, Party A shall cease to have any right or interest in or to
Party C, including with respect to any of Party C’s assets or liabilities, the Registered
Capital of Party C, the right to receive profits or dividends from Party C, any technology and
intellectual property owned or controlled by Party C and the right to participate in the
management or commercial matters of Party C, and Party A shall cease to have any interest in
the JV Contract and Articles of Association.

Article 8. Representations, Warranties and Additional Covenants of Party A .

5

 

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Party A hereby represents, warrants and covenants to Party B as follows:

	(1)  	Organization and Authority. Party A is a legal entity duly organized and validly existing
under the laws of the PRC. Party A has full corporate power and authority to enter into and
perform this Agreement. This Agreement constitutes the legal, valid and binding obligation of
Party A, enforceable against Party A in accordance with its terms. Party A has taken all
necessary action and obtained necessary approvals to authorize the execution and performance
of this Agreement.
	 
	(2)  	No Conflict. The execution and performance of this Agreement by Party A does not and will not
contravene, conflict with or constitute a breach or default under Party A’s articles of
association, any resolution adopted by Party A’s board of directors, or any material agreement
or instrument to which Party A is bound.
	 
	(3)  	No Approvals. Except as specifically provided in this Agreement, Party A is not required
to obtain the consent or approval of any governmental agency or other third party in order to
execute and perform its obligations under this Agreement.
	 
	(4)  	No Encumbrances. There are now and at the time of Transfer will be no Encumbrances affecting
or impairing the Transferred Interest or Party A’s right, power and authority to transfer the
Transferred Interest in accordance with the terms of this Agreement.
	 
	(5)  	No Company Obligations. There are no contractual or other obligations owing by Party C or
Party B (other than payment of the Purchase Price) to Party A, whether for the payment of
money, the return of equipment or other property, or for any other reason, including without
limitation, any rights to Party C’s properties of any kind, tangible and intangible, personal,
real or intellectual, or rights under contracts, or for reimbursement or compensation. Party A
has fully performed all of its obligations with respect to Party C arising under the Articles
of Association or under applicable law.
	 
	(6)  	No Use of Confidential Information. Based on (i) the immediately preceding paragraph (5);
and (ii) the fact that effective on Closing, Party A shall no longer have any rights, title
and interests in and to Party C or its properties; and (iii) under the JV Contract and
Articles of Association, unless prior written consent has been given by an authorized
representative of Party B or Party C, Party A and its on-post and active employees as of
November 30, 2004 (the “Employment Status Date”) (exclusive of those who, on the Employment
Status Date are inactive and off-post workers, “internally deemed” retirees and retirees), if
any, will not, directly or indirectly, whether individually, as a director, shareholder,
owner, partner, employee, principal or agent of any business, or in any other capacity, use,
duplicate, disclose to third parties, sell, transfer, share with others or otherwise furnish,
any knowledge, business information, customer data, competitive data, technologies, drawings,
printed or electronic materials or other proprietary or confidential information of Party B
and/or Party C, including, without limitation, (a) any technology contributed by Party A to
Party C, (b) any information associated with equipment

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	   	contributed by Party A to Party C, and (c) any technology or confidential information which may have been contributed or licensed to
Party C by Party B.
	 
	(7)  	Non-Competition. Party A and its on-post and active employees as of the Employment Status
Date (exclusive of those who, on the Employment Status Date are inactive and off-post worker,
“internally deemed” retirees and retirees) will not directly or indirectly use, research,
develop, manufacture, sell, distribute, enter into commercial arrangements for products and/or
technology that are the same or similar to those of Party C and/or Party B, or/and operate or
conduct business activities that in any way arise out of or are related to Party C’s business,
or have such activities conducted on Party A’s behalf or at Party A’s direction, whether in direct or indirect
competition with Party C and/or Party B, for a term of [ * * * ], unless prior written consent has
been given by an authorized representative of Party B or Party C. In particular, Party A agrees
that it will not, directly or indirectly, do any of the following: (a) solicit from any customer
doing business with Party C or Party B, for business that is of the similar nature to Party C’s
business; (b) solicit the employment or services of any person who at the time is employed by or a
consultant to Party C or Party B; or (c) make any statements or comments of a defamatory or
disparaging nature to third parties regarding Party C or Party B, or their respective officers,
directors, personnel, products or services.
	 
	(8)  	Trademarks. Upon Closing of the transfer of the Transferred Interests, the Trademark
Licensing Agreement regarding Party A’s Trademarks between Party A as licensor and Party C as
licensee shall terminate immediately; however, Party C shall retain license to use Party A’s
trademark for a [ * * * ] transition period for its remaining inventories.
	 
	(9)  	Further Assistance and Continuous Assistance. After Closing, Party A will continue to provide
(i) necessary and appropriate assistance to Party C and/or Party B at their reasonable request
in any of the processes involving local government, including but not limited to, assisting
Party C and/or Party B in completing all government processes required for contemplated
transfer, issuing such certificate or document confirming the WFOE status of Party C, and
communicating with local government as entrusted by Party C and/or Party B; and (ii) support
of and coordination with the implementation of Party C’s relocation plan.
	 
	(10)  	Investment Certificates. No investment certificate or similar document was issued to
Party A to reflect Party A’s contribution to the Registered Capital of Party C, or, if any
such investment certificate or similar document was issued, Party A shall deliver such
document to Party B as an additional condition precedent, properly endorsed if necessary to
effect its transfer or cancellation.

Article 9. Representations, Warranties and Additional Covenants of Party B .

Party B hereby represents, warrants and covenants to Party A as follows:

	(1)  	Organization and Authority. Party B is a legal entity duly organized and validly existing
under the laws of Mauritius. Party B has full corporate power and authority to enter into and
perform

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	   	this Agreement. This Agreement constitutes the legal, valid and binding obligation of
Party B, enforceable against Party B in accordance with its terms. Party B has taken all
necessary action to authorize the execution and performance of this Agreement.
	 
	(2)  	No Conflict. The execution and performance of this Agreement by Party B does not and will
not contravene, conflict with or constitute a breach or default under Party B’s Articles of
Incorporation, any resolution adopted by Party B’s board of directors, or any material
agreement or instrument to which Party B is bound.
	 
	(3)  	No Approvals. Except as specifically provided herein, Party B is not required to obtain the
consent or approval of any governmental agency or other third party in order to execute and
perform its obligations under this Agreement.
	 
	(4)  	Financial Ability. Party B has or has access to the financial resources necessary for the
performance of its obligations under this Agreement.
	 
	(5)  	Premises; Post Transfer Matters. As long as Party C remains occupying the premises located
at 27 Tonghui Road West, it shall continue to permit Party A to access its own land and
buildings through Party C’s premises, and to use its water and electricity utility facilities
with separate meter reading, if possible, in any instance the costs for utility usages to be
paid separately by Party A (or billed by Party C to Party A, as the case may be).
	 
	(6)  	Employment Related Matters. Party B shall cause Party C to properly handle the following
required employment- related matters upon Closing arising out of the contemplated transfer:

	 	(i)  	continuing to honor and perform the obligations under certain existing labor
contracts having a term of five (5) years entered into by and between Party B and each
individual employee, as were established as a result of the previous restructure of
Party C and contract renegotiation;
	 
	 	(ii)  	confirming that the continued years of service of an employee accrued from
working for Party A and Party C prior to Party B’s acquisition of equity interest,
shall be calculated into the total continued years of service of Party C in determining
the economic compensation in the event of termination or early termination and
employee’s right in the event of contract amendments or renewal; Any economic
compensation determined to be owned, as calculated based on the total continued years
of service of Party C shall be paid by Party C;
	 
	 	(iii)  	continuing to honor and perform the obligations under certain contracts on “Inactive and Off-post
Employment Status, Deemed Retirement and Financial Support” and “Decisions on Deemed Retirement
Arrangement for Job-Related injured workers” with the former Party C’s workers covered by such documents, respectively and making timely and
full payments of allowance to such workers;

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	 	(iv)  	having full authority and taking full responsibility in distribution from the
fund set aside by Party C for the purpose of paying the allowance to the internal
retirees, the balance of which being [ * * * ] as of April 25, 2004, regardless of the
actual costs to be incurred, as long as Party C maintains adequate cash flow for its
existing business, to allow for such payment on time and in full;
	 
	 	(iv)  	entering into an agreement with Weidong Huang, current Director of Party A and
Director, Vice Chairman and Deputy General Manager of Party C as designated by Party A,
whereby Mr. Huang is to serve as consultant through a mutually acceptable arrangement.

	(7)  	No Liability on Party A. After Closing, except at otherwise stated in this Agreement, Party
A owes no contractual liabilities or obligations to Party B and/or Party C, including but not
limited to, the obligation to pay to the employees of Party C who were former employees of
Party A the economic compensations arising or in connection with the termination of labor
contracts.

Article 10. Liabilities for Breach . If Party B fails to make a payment owing under this
Agreement as and when due, the late payment shall bear a surcharge of 0.05% per day beginning
twenty business days after the payment becomes due and payable; provided, however, that
this paragraph shall not apply with respect to any payment concerning which Party B has a good
faith dispute with Party A, provided that (a) Party B is actively commenced pursuing resolution of
the dispute through the procedures described in Article 14, and (b) Party B has paid all undisputed
amounts owing to Party A. The remedy provided in this paragraph (2) shall be Party B’s sole
liability with respect to late payments.

Article 11. Effectiveness . This Agreement shall become effective on the date when the
certificate of approval is issued by Wuxi FIAC by all Parties, but the obligation of the Parties to
consummate the Transfer and the effectiveness of the Transfer shall be subject to the conditions
set forth in Article 6, including, without limitation, the receipt of all required government
approvals.

It is the understanding between Party A and Party B that prior to submitting the application
package for the contemplated transfer to Wuxi FIAC for approval, Party B is internally required to
submit for approval of the executed Agreement to the management of Genencor International, Inc.,
being Party B’s sole shareholder. If Party B fails to obtain its internal approval within [ * * *
], Party A shall have the option to: (i) immediately terminate the Agreement; (ii) commerce re-negotiation with Party B for new
terms and conditions with Party B, which shall be similarly subject to approval by Genencor
International, Inc.; or (iii) continue to wait for approval by the management of Genencor
International, Inc.

Article 12. Notices . Any notice, waiver, consent or other communication required or
permitted under this Agreement must be in writing and must be sent by hand delivery, fax, or
internationally recognized courier service (such as FedEx, UPS and DHL). Such notices, waivers,
consents or other communications sent in such manner shall be effective when delivered or when
delivery is refused, regardless of the method of delivery used. The addresses and fax numbers to be
used shall be those set

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forth at the beginning of this Agreement, unless one Party changes its address and/or fax number by sending a notice of such change in the manner required by this Article
12.

Article 13. Governing Law . The formation, validity, interpretation and performance of,
and the resolution of disputes arising from, this Agreement shall be governed by the laws of the
PRC.

Article 14. Dispute Resolution . Any dispute, controversy or claim arising out of or in
connection with this Contract shall be settled through friendly consultations between Party A and
Party B. If settlement is not reached within ninety (90) days, the dispute, controversy or claim
shall be finally resolved through arbitration through the China International Economic and Trade
Arbitration Commission Shanghai Sub-Commission (“CIETAC”), in accordance with its rules, whose
decision is final and binding upon both Party A and Party B. There shall be three arbitrators.
Party A shall choose one arbitrator, Party B shall choose one arbitrator, and the two arbitrators
so chosen shall choose the third. If the two arbitrators chosen by the Parties are unable to agree
upon the selection of a third arbitrator, the third arbitrator shall be chosen by the
Secretary-General of CIETAC. The arbitration will be conducted in both English and Chinese
languages simultaneously. The Parties hereby irrevocably waive their rights to contest, dispute or
otherwise oppose the recognition and enforcement of the arbitral award by CIETAC in any
proceedings, on the grounds of “invalidity” of the arbitration agreement or the grounds of CIETAC’s
lack of authority or jurisdiction to settle the dispute. The losing Party shall bear all the
arbitration fees and any costs and expenses arising therefrom, including, without limitation,
reasonable attorneys fees; provided, however, that if the arbitrators determine that both Parties
bear fault, the arbitrators shall apportion responsibility for such costs and expenses between the
Parties based on each Party’s comparative responsibility as determined by the arbitrators.

Article 15. Assignment

None of the Parties shall assign, transfer or otherwise convey any of its rights, titles and
interests in and to this Agreement to any of the third parties, without the consent in writing by
the other party, provided that, Party B may assign and transfer all or any portion of its rights, titles and interests in and
to this Agreement to any of its Affiliates, subject to the approval by the Approving Authority and
due registration.

Article 16. Counterparts . This Agreement shall be signed in seven (7) copies, in both
English and Chinese - - two (2) copies for Party A, two (2) copies for Party B, one (1) copy for
Party C, and two (2) copies to be submitted in connection with the required government approvals.
Each copy shall constitute an original, and all copies, taken together, shall constitute one and
the same instrument.

Article 17. Entire Agreement . The Appendices identified below the signatures are an
integral part of this Agreement and have the same effectiveness as this Agreement. This Agreement,
including the Appendices, is a total of 28 pages. This Agreement, including the Appendices,
constitutes the entire agreement and understanding of the Parties with respect to the transaction
described herein.

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Article 18. Modifications and Waivers . This Agreement may be modified only by a writing which
is signed by the authorized representatives of all Parties and which states that it is intended as
a modification of this Agreement. No waiver of any of the provisions of this Agreement shall be
binding unless set forth in a writing which is signed by the authorized representative of the Party
against which such waiver is sought to be enforced and which states that it is intended as a
waiver. The waiver by a party of one provision of this Agreement on one occasion shall not be
construed as a waiver of that provision on any other occasion, or as a waiver of any other
provision on any occasion.

Article 19. Language . This Agreement has been negotiated and prepared in both the Chinese
and English languages. Care was taken to ensure that the two versions have the same meaning. Each
language shall be equally authoritative.

Article 20. Interpretation Rules .

	(1)  	The defined terms used in this Agreement apply equally to both the singular and plural forms
of the terms defined.
	 
	(2)  	References in this Agreement to Articles are references to the Articles of this Agreement,
unless the particular reference otherwise provides by citing a different document. References
to paragraphs shall be references to the indicated paragraph of the same Article in which the
reference appears, unless the reference otherwise provides by citing to a different Article
within this Agreement or some other document.

Article 21. Date and Place of Signing . This Agreement is signed on November 30, 2004,
in Wuxi, Jiangsu Province, People’s Republic of China.

[The remainder of this page is left blank intentionally. The signatures begin on the next page.]

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SIGNATURES

	 	 	 
	Party A:

	 	Party B: (First Signature)
	Wuxi Enzyme Factory

	 	Genencor Mauritius, Limited
	27 Tonghui Road West

	 	c/o Genencor International, Inc.
	Wuxi City, Jiangsu Province

	 	200 Meridian Centre Blvd.
	The People’s Republic of China, 214035

	 	Suite 300
Rochester, New York 14618
	

	 	U. S. A.
	 
	 	 
	Legal Representative:

	 	Legal Representative:
	     Weidong Huang, Director

	 	     John J. Gell, Director
	 
	 	 

	 	 	 	 	 	 	 
	 Signature:

	 	/s/ Weidong Huang
	 	Signature:
	 	/s/ John J. Gell
	

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 

	 	 	 
	Fax: (0510) 370-9726

	 	Fax: (001-585) 244-2806
	 
	Party C:

	 	Party B: (Second Signature)
	Genencor Wuxi Bio-products Co., Ltd.

	 	Genencor Mauritius, Limited
	27 Tonghui Road West

	 	c/o Genencor International, Inc.
	Wuxi City, Jiangsu Province

	 	200 Meridian Centre Blvd.
	The People’s Republic of China, 214035

	 	Suite 300
	

	 	Rochester, New York 14618
	

	 	U. S. A.
	 
	 	 
	Legal Representative:

	 	Authorized Representative:
	          John J. Gell, Chairman

	 	          Paul Underberg
	 
	 	 

	 	 	 	 	 	 	 
	Signature:

	 	/s/ John J. Gell
	 	Signature:
	 	/s/ Paul Underberg
	

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 

	 	 	 
	Fax: (0510) 370-9726

	 	Fax: (001-585) 244-2806
	 
	 	 
	Witnessed By:
	 	 
	Wuxi Light Industrial Assets Management Co., Ltd.
	 	 
	 
	 	 
	Duly designated Representative:
	 	 
	          Mengqiao Bao, General Manager
	 	 
	 
	 	 

	 	 	 	 	 
	Signature:

	 	/s/ Mengqiao Bao
	 	 
	

	 	 	 	 

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	Exhibits
	 	 
	 
	 	 
	Exhibit A

	 	Business License of Party C
	Exhibit B

	 	Form of Board Resolution
	Exhibit C

	 	Form of JV Contract Termination
	Exhibit D

	 	Form of Resignation

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EXHIBIT A

BUSINESS LICENSE OF PARTY C

See attached copy in Chinese with English translation following.

 

[FORM NOT ATTACHED IN ORIGINAL]

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EXHIBIT B

FORM OF BOARD RESOLUTION

GENENCOR WUXI BIO-PRODUCTS CO., LTD.

WRITTEN BOARD RESOLUTIONS

The undersigned, being all of the members of the Board of Directors of Genencor Wuxi
Bio-Products Co.,Ltd., a Chinese limited liability company and Sino-foreign joint venture (the
“Company”), do hereby adopt the following written resolutions in accordance with the Articles of
Association of the Company:

	1.  	Transfer of Wuxi Enzyme Factory’s Equity Interest. The directors hereby approve the Agreement
for Transfer of Equity Interest and all its terms and conditions by and among Wuxi Enzyme
Factory (“WEF”), Genencor Mauritius, Limited (“Genencor”) and the Company, dated November ___, 2004
(the “Transfer Agreement”), and the directors hereby consent to WEF, as the Chinese party of
the Company, transferring all of its equity interest in the Company to Genencor, subject
always to any restrictions set forth in the Transfer Agreement related thereto. Upon approval
of the Transfer Agreement by the Wuxi Foreign Investment Administration Commission and
completion of the business registration, WEF will cease to own any rights, interests and
obligations originally held by it in the Company, and such rights, interests and obligations
shall be held by Genencor. At such time, the Company shall become a wholly foreign owned
enterprise under the laws of the PRC.
	 
	2.  	It is resolved that, upon the approval of the Transfer Agreement by the Wuxi Foreign
Investment Administration Commission, the Joint Venture Contract of the Company will cease to
be effective.
	 
	3.  	It is resolved to accept the resignation of the director previously nominated by WEF to the
Company, namely, Huang Wei-Dong, effective the Closing Date (as defined in the Transfer
Agreement).
	 
	4.  	The above terminations and appointments will be effective on the Closing Date.

	 	 	 
	Signatures:
	 	 
	 
	 	 
	 

	 	 
	 

	 	 
	John J. Gell (Chairman)

	 	Huang Wei-Dong(Vice Chairman)
	Date:

	 	Date:
	 
	 	 
	 

	 	 
	Paul Underberg, Director

	 	Jeffrey Surniak, Director
	Date:

	 	Date:
	 
	 	 
	 	 	 
	Nelson Hsia, Director
Date:
	 	 

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EXHIBIT C

FORM OF JV CONTRACT TERMINATION

AGREEMENT FOR TERMINATION OF JOINT VENTURE CONTRACT

     THIS AGREEMENT FOR TERMINATION OF JOINT VENTURE CONTRACT (“Agreement”) is made by and
between the following Parties after friendly consultation on the basis of principles of equality
and mutual benefit:

	 	 	 
	Party A:

	 	Wuxi Enzyme Factory
	

	 	25 Tonghui Road West
	

	 	Wuxi City, Jiangsu Province
	

	 	The People’s Republic of China, 214035
	

	 	Fax: (0510) 370-9726
	

	 	Legal Representative:     Weidong Huang, Director
	 
	 	 
	Party B:

	 	Genencor Mauritius, Limited
	

	 	c/o Genencor International, Inc.
	

	 	200 Meridian Centre Blvd
	

	 	Suite 300
	

	 	Rochester, New York 14618
	

	 	U. S. A.
	

	 	Fax: (001-585) 244-2806
	

	 	Legal Representative:     John J. Gell, Director

(Party A and Party B are hereinafter referred to collectively as the “Parties” and individually as
a “Party”).

RECITALS

	 	 	 
	Recital A.

	 	The Parties previously entered into an Agreement for Transfer
of Equity Interest dated November___, 2004 (“Transfer Agreement”).
	 
	 	 
	Recital B

	 	Pursuant to Article 6 of the Transfer Agreement, it is a
condition to the consummation of the Transfer Agreement that
the Parties execute an agreement formally terminating the JV
Contract (as defined in the Transfer Agreement).

AGREEMENT

Article 1. Definitions. Terms used in capitalized form and not otherwise defined in this Agreement
shall have the meanings given them in the Transfer Contract.

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Article 2. Termination of JV Contract. The JV Contract is hereby terminated with effectiveness as
of the date of this Agreement (“Termination Date”). The termination of the JV Contract as provided
in this Agreement shall not affect the obligations of the Parties with respect to situations
existing or events occurring prior to the Termination Date.

Article 3. Date and Place of Signing. This Agreement is signed on November____, 2004, in Wuxi,
Jiangsu Province, People’s Republic of China.

SIGNATURES

	 	 	 
	Party A:

	 	Party B: (First Signature)
	Wuxi Enzyme Factory

	 	Genencor Mauritius, Limited
	25 Tonghui Road West

	 	c/o Genencor International, Inc.
	Wuxi City, Jiangsu Province

	 	200 Meridian Centre Blvd.
	The People’s Republic of China, 214035

	 	Suite 300
	

	 	Rochester, New York 14618
	

	 	U. S. A.
	 
	 	 
	Legal Representative:

	 	Legal Representative:
	     Weidong Huang, Director

	 	     John J. Gell, Director
	 
	 	 

	 	 	 	 	 	 	 
	Signature:

	 	 	 	Signature:	 	 
	

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 

	 	 	 
	Fax: (510) 370-9726

	 	Fax: (001-585) 244-2806
	 
	

	 	Party B: (Second Signature)
	

	 	Genencor Mauritius, Limited
	

	 	c/o Genencor International, Inc.
	

	 	200 Meridian Centre Blvd.
	

	 	Suite 300
	

	 	Rochester, New York 14618
	

	 	U. S. A.
	 
	 	 
	

	 	Authorized Representative:
	

	 	          Paul Underberg
	 
	 	 
	

	 	Signature:
	 
	 	 
	

	 	Fax: (001-585) 244-2806

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EXHIBIT D

FORM OF RESIGNATION

RESIGNATION

I, Weidong Huang, hereby resign as a director (, Deputy General Manager and Vice Chairman) of Genencor
(Wuxi) Bio-Products Co., Ltd. (the “Company”), effective on the Closing Date as defined in that
certain Agreement for Transfer of Equity Interest by and among Wuxi Enzyme Factory , Genencor
Maritius and the Company, dated November __, 2004.

	 	 	 	 	 
	

	 	 	 	 
	

	 	Weidong Huang	 	 

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TABLE OF
CONTENTS

	 	 	 	 	 	 	 
	Article 1.

	 	Definitions.
	 	 	2	 
	 
	 	 	 	 	 	 
	Article 2.

	 	Transfer.
	 	 	4	 
	 
	 	 	 	 	 	 
	Article 3.

	 	Purchase Price.
	 	 	4	 
	 
	 	 	 	 	 	 
	Article 4.

	 	Payment of Purchase Price.
	 	 	4	 
	 
	 	 	 	 	 	 
	Article 5.

	 	Taxes and Fees.
	 	 	4	 
	 
	 	 	 	 	 	 
	Article 6.

	 	Conditions Precedent.
	 	 	4	 
	 
	 	 	 	 	 	 
	Article 7.

	 	Closing of the Transaction.
	 	 	5	 
	 
	 	 	 	 	 	 
	Article 8.

	 	Representations, Warranties and Additional Covenants of Party A.
	 	 	5	 
	 
	 	 	 	 	 	 
	Article 9.

	 	Representations, Warranties and Additional Covenants of Party B.
	 	 	7	 
	 
	 	 	 	 	 	 
	Article 10.

	 	Liabilities for Breach.
	 	 	9	 
	 
	 	 	 	 	 	 
	Article 11.

	 	Effectiveness.
	 	 	9	 
	 
	 	 	 	 	 	 
	Article 12.

	 	Notices.
	 	 	9	 
	 
	 	 	 	 	 	 
	Article 13.

	 	Governing Law.
	 	 	10	 
	 
	 	 	 	 	 	 
	Article 14.

	 	Dispute Resolution.
	 	 	10	 
	 
	 	 	 	 	 	 
	Article 15.

	 	Assignment.
	 	 	10	 
	 
	 	 	 	 	 	 
	Article 16.

	 	Counterparts.
	 	 	10	 
	 
	 	 	 	 	 	 
	Article 17.

	 	Entire Agreement.
	 	 	10	 
	 
	 	 	 	 	 	 
	Article 18.

	 	Modifications and Waivers.
	 	 	11	 
	 
	 	 	 	 	 	 
	Article 19.

	 	Language.
	 	 	11	 
	 
	 	 	 	 	 	 
	Article 20.

	 	Interpretation Rules.
	 	 	11	 
	 
	 	 	 	 	 	 
	Article 21.

	 	Date and Place of Signing.
	 	 	11	 
	 
	 	 	 	 	 	 
	EXHIBIT A BUSINESS LICENSE OF PARTY C	 	 	14	 
	 
	 	 	 	 	 	 
	EXHIBIT B FORM OF BOARD RESOLUTION GENENCOR WUXI BIO-PRODUCTS CO., LTD.
WRITTEN BOARD RESOLUTIONS	 	 	15	 
	 
	 	 	 	 	 	 
	EXHIBIT C FORM OF JV CONTRACT TERMINATION	 	 	16	 
	 
	 	 	 	 	 	 
	EXHIBIT D FORM OF RESIGNATION	 	 	18

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