Document:

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                                                                   Exhibit 10.10

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Executive Officer                  Title
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David A. Zopf, M.D.                Executive Vice President
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Robert I. Kriebel                  Senior Vice President and Chief Financial
                                   Officer
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George J. Vergis                   Senior Vice President, Business & Commercial
                                   Development
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A. Brian Davis                     Vice President, Finance
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Marjorie Hurley                    Vice President, Regulatory Affairs & Project
                                   Management
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                           CHANGE OF CONTROL AGREEMENT

         THIS CHANGE OF CONTROL AGREEMENT (the "Agreement"), is made on this ___
day of ________, ____, by and between NEOSE TECHNOLOGIES, INC. (the "Company")
and _______________ (the "Employee").

                                   Background

         The Employee serves as a senior executive of the Company; and the
Company and the Employee desire to establish certain protections for the
Employee in the event of his or her termination of employment.

                                      Terms

             NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and promises contained herein, and intending to be bound hereby, the
parties agree as follows:

1.       Definitions. As used herein:

             1.1. "Base Salary" means, as of any given date, the annual base
rate of salary payable to the Employee by the Company, as then in effect;
provided, however, that in the case of a resignation by the Employee for the
Good Reason described in Section 1.8.4, "Base Salary" will mean the annual base
rate of salary payable to the Employee by the Company, as in effect immediately
prior to the reduction giving rise to the Good Reason.

             1.2. "Board" means the Board of Directors of the Company.

             1.3. "Business" means research, development, manufacture, supply,
marketing, licensing, use and sale of biologic, pharmaceutical and therapeutic
materials and products and

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related process technology directed to (a) the enzymatic synthesis of complex
carbohydrates for use in food, cosmetic, therapeutic, consumer and industrial
applications, (b) enzymatic synthesis or modification of the carbohydrate
portion of proteins or lipids, or modification of proteins or lipids through the
attachment of carbohydrates, (c) carbohydrate-based therapeutics, and (d) the
development of protein therapeutics using sialylation, fucosylation,
glycosylation, glycopegylation, or glycoconjugation.

             1.4. "Cause" means fraud, embezzlement, or any other serious
criminal conduct that adversely affects the Company committed intentionally by
the Employee in connection with his or her employment or the performance of his
or her duties as an officer or director of the Company or the Employee's
conviction of, or plea of guilty or nolo contendere to, any felony.

             1.5. "Change in Control" means a change in ownership or control of
the Company effected through:

                    1.5.1. the direct or indirect acquisition by any person or
related group of persons (other than the Company or a person that directly or
indirectly controls, is controlled by, or is under common control with, the
Company) of beneficial ownership (within the meaning of Rule 13d-3 of the
Securities Exchange Act of 1934, as amended) of securities possessing more than
50% of the total combined voting power of the Company's outstanding securities;

                    1.5.2. a change in the composition of the Board over a
period of 36 months or less such that a majority of the Board members ceases, by
reason of one or more contested elections for Board membership, to be comprised
of individuals who either (a) have been board members continuously since the
beginning of such period, or (b) have been elected or nominated for election as
Board members during such period by at least a majority of the Board members
described in clause (a) who were still in office at the time such election or
nomination was approved by the Board;

                    1.5.3. the consummation of any consolidation, share exchange
or merger of the Company (a) in which the stockholders of the Company
immediately prior to such transaction do not own at least a majority of the
voting power of the entity which survives/results from that transaction, or (b)
in which a shareholder of the Company who does not own a majority of the voting
stock of the Company immediately prior to such transaction, owns a majority of
the Company's voting stock immediately after such transaction; or

                    1.5.4. the liquidation or dissolution of the Company or any
sale, lease, exchange or other transfer (in one transaction or a series of
related transactions) of all or substantially all the assets of the Company,
including stock held in subsidiary corporations or interests held in subsidiary
ventures.

             1.6. "Code" means Internal Revenue Code of 1986, as amended.

             1.7. "Disability" means the Employee's inability, by reason of any
physical or mental impairment, to substantially perform his or her regular
duties as contemplated by this Agreement, as determined by the Board in its sole
discretion (after affording the Employee the opportunity to present his or her
case), which inability is reasonably contemplated to continue for

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at least one year from its commencement and at least 90 days from the date of
such determination.

             1.8.  "Good Reason" means, without the Employee's prior written
consent, any of the following:

                     1.8.1. an adverse change in the Employee's title;

                     1.8.2. a reduction in the Employee's authority, duties or
responsibilities, or the assignment to the Employee of duties that are
inconsistent, in a material respect, with Employee's position;

                     1.8.3. the relocation of the Company's headquarters more
than 15 miles from Horsham, Pennsylvania, unless such move reduces the
Employee's commuting time;

                     1.8.4. a reduction in the Employee's Base Salary or in the
amount, expressed as a percentage of Base Salary, of the Employee's Target
Bonus;

                     1.8.5. the Company's failure to pay or make available any
material payment or benefit due under this Agreement or any other material
breach by the Company of this Agreement.

However, the foregoing events or conditions will constitute Good Reason only if
the Employee provides the Company with written objection to the event or
condition within 60 days following the occurrence thereof, the Company does not
reverse or otherwise cure the event or condition within 30 days of receiving
that written objection and the Employee resigns his or her employment within 90
days following the expiration of that cure period.

             1.9.  "Intellectual Property" means (a) all inventions (whether
patentable or unpatentable and whether or not reduced to practice), all
improvements thereto, and all patents and patent applications claiming such
inventions, (b) all trademarks, service marks, trade dress, logos, trade names,
fictitious names, brand names, brand marks and corporate names, together with
all translations, adaptations, derivations, and combinations thereof and
including all goodwill associated therewith, and all applications,
registrations, and renewals in connection therewith, (c) all copyrightable
works, all copyrights, and all applications, registrations, and renewals in
connection therewith, (d) all mask works and all applications, registrations,
and renewals in connection therewith, (e) all trade secrets (including research
and development, know-how, formulas, compositions, manufacturing and production
processes and techniques, methodologies, technical data, designs, drawings and
specifications), (f) all computer software (including data, source and object
codes and related documentation), (g) all other proprietary rights, (h) all
copies and tangible embodiments thereof (in whatever form or medium), or similar
intangible personal property which have been or are developed or created in
whole or in part by the Employee (i) at any time and at any place while the
Employee is employed by Company and which, in the case of any or all of the
foregoing, are related to and used in connection with the business of the
Company, or (ii) as a result of tasks assigned to the Employee by the Company.

             1.10. "Proprietary Information" means any and all information of
the Company or of any subsidiary or affiliate of the Company. Such Proprietary
Information shall include, but

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shall not be limited to, the following items and information relating to the
following items: (a) all intellectual property and proprietary rights of the
Company (including without limitation Intellectual Property), (b) computer codes
or instructions (including source and object code listings, program logic
algorithms, subroutines, modules or other subparts of computer programs and
related documentation, including program notation), computer processing systems
and techniques, all computer inputs and outputs (regardless of the media on
which stored or located), hardware and software configurations, designs,
architecture and interfaces, (c) business research, studies, procedures and
costs, (d) financial data, (e) distribution methods, (f) marketing data,
methods, plans and efforts, (g) the identities of actual and prospective
customers, contractors and suppliers, (h) the terms of contracts and agreements
with customers, contractors and suppliers, (i) the needs and requirements of,
and the Company's course of dealing with, actual or prospective customers,
contractors and suppliers, (j) personnel information, (k) customer and vendor
credit information, and (l) any information received from third parties subject
to obligations of non-disclosure or non-use. Failure by the Company to mark any
of the Proprietary Information as confidential or proprietary shall not affect
its status as Proprietary Information under the terms of this Agreement.

             1.11. "Release" means a release substantially identical to the one
attached hereto as Exhibit A.

             1.12. "Restricted Period" means the period beginning on the date
hereof and ending on the first anniversary of the termination of the Employee's
employment with the Company for any reason.

             1.13. "Restrictive Covenants" means the covenants set forth in
Sections 6.1, 6.2 and 6.3 of this Agreement.

             1.14. "Target Bonus" means, with respect to any year, the target
amount of the annual bonus that would be payable to the Employee with respect to
that year, whether under an employment or incentive agreement, under any bonus
plan or policy of the Company, or otherwise, assuming that all applicable
performance goals are met and conditions to the payment of such bonus are
satisfied.

2.       Termination.

             2.1.  In General. The Company may terminate the Employee's
employment at any time. The Employee may terminate his or her employment at any
time, provided that before the Employee may voluntarily terminate his or her
employment with the Company, he or she must provide 30 days prior written notice
(or such shorter notice as is acceptable to the Company) to the Company. Upon
any termination of the Employee's employment with the Company for any reason:
(a) the Employee (unless otherwise requested by the Board) concurrently will
resign any officer or director positions he or she holds with the Company, its
subsidiaries or affiliates, and (b) the Company will pay to the Employee all
accrued but unpaid compensation through the date of termination, and (c) except
as explicitly provided in Sections 2, 3 or 4, or otherwise pursuant to COBRA,
all compensation and benefits will cease and the Company will have no further
liability or obligation to the Employee, including, but not limited to, any
unpaid Target Bonus. The foregoing will not be construed to limit the Employee's
right

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to payment or reimbursement for claims incurred under any insurance contract
funding an employee benefit plan, policy or arrangement of the Company in
accordance with the terms of such insurance contract.

             2.2. Termination Without Cause. If the Employee's employment by the
Company ceases due to a termination by the Company without Cause or due to death
or Disability, then, in addition to the payments and benefits provided for in
Section 2.1 above and subject to Section 5 below, the Company will (a) make a
lump sum cash payment to the Employee equal to six months of the Employee's Base
Salary, as in effect on such date, (b) continue to provide medical benefits to
the Employee (and, if covered immediately prior to such termination, his or her
spouse and dependents) for a period of six months commencing from the date of
the Employee's termination of employment at a monthly cost to the Employee equal
to the Employee's monthly contribution, if any, toward the cost of such coverage
immediately prior to such termination, and (c) arrange for the provision to the
Employee of reasonable executive outplacement services by a provider selected by
the mutual agreement of the Company and the Employee, provided that if the
Company's obligation to make the payments provided for in clause (a) of this
Section 2.2 arises due to the Employee's death or Disability, the cash payments
described in clause (a) will be offset by the amount of benefits paid to the
Employee (or his or her representatives, heirs, estate or beneficiaries)
pursuant to any life insurance or disability plans, policies or arrangements of
the Company by virtue of his or her death or such Disability (including, for
this purpose, only that portion of such life insurance or disability benefits
funded by the Company or by premium payments made by the Company). The payments
and benefits described in this section are in lieu of (and not in addition to)
any other severance arrangement maintained by the Company.

3.       Certain Terminations Following a Change in Control. If the Employee's
employment with the Company ceases within twelve months following a Change in
Control as a result of a termination by the Company without Cause or a
resignation by the Employee for Good Reason, then in lieu of the payments and
benefits provided for in Section 2.2, (a) the Company will pay to the Employee
on the date of termination a lump sum cash payment equal to the sum of (i) one
year of the Employee's Base Salary as in effect on such date, and (ii) the
Employee's Target Bonus for the calendar year in which the termination occurs,
(b) the Company will continue to provide medical benefits to the Employee (and,
if covered immediately prior to such term, his or her spouse and dependents) for
a period of one year commencing from the date of the Employee's termination of
employment at a monthly cost to the Employee equal to the Employee's monthly
contribution, if any, toward the cost of such coverage immediately prior to such
termination, (c) the Company will arrange for the provision to the Employee of
reasonable executive outplacement services by a provider selected by the mutual
agreement of the Company and the Employee, (d) the Company will pay to the
Employee the additional amount, if any, payable pursuant to Section 4 below, and
(e) all outstanding stock options then held by the Employee will then become
fully vested and immediately exercisable and will remain exercisable for 12
months following Employee's termination of employment, notwithstanding any
inconsistent language in any equity incentive plan or agreement.

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4.      Parachute Payments.

             4.1. Generally. All amounts payable to the Employee under this
Agreement will be made without regard to whether the deductibility of such
payments (considered together with any other entitlements or payments otherwise
paid or due to the Employee) would be limited or precluded by Section 280G of
the Code and without regard to whether such payments would subject the Employee
to the excise tax levied on certain "excess parachute payments" under Section
4999 of the Code (the "Parachute Excise Tax").

             4.2. Gross-Up. If all or any portion of the payments or other
benefits provided under any section of this Agreement, either alone or together
with any other payments and benefits which the Employee receives or is entitled
to receive from the Company or its affiliates (whether paid or payable or
distributed or distributable) pursuant to the terms of this Agreement or
otherwise pursuant to or by reason of any other agreement, policy, plan, program
or arrangement, including without limitation any stock option, stock
appreciation right or similar right, or the lapse or termination of any
restriction on or the vesting or exercisability of any of the foregoing (the
"Payment") would result in the imposition of a Parachute Excise Tax, the
Employee will be entitled to an additional payment (the "Gross-up Payment") in
an amount such that the net amount of the Payment and the Gross-up Payment
retained by the Employee after the calculation and deduction of all excise taxes
(including any interest or penalties imposed with respect to such taxes) on the
Payment and all federal, state and local income tax, employment tax and excise
tax (including any interest or penalties imposed with respect to such taxes) on
the Gross-up Payment provided for in this Section 4.2, and taking into account
any lost or reduced tax deductions on account of the Gross-up Payment, shall be
equal to the Payment.

             4.3. Measurements and Adjustments. The determination of the amount
of the payments and benefits paid and payable to the Employee, and whether and
to what extent payments under Section 4.2 are required to be made, will be made
at the Company's expense by an independent auditor selected by mutual agreement
of the Company and the Employee, which auditor shall provide the Employee and
the Company with detailed supporting calculations with respect to its
determination within 15 business days after the receipt of notice from the
Employee or the Company that the Employee has received or will receive a payment
that is potentially subject to the Parachute Excise Tax. For the purposes of
determining whether any payments will be subject to the Parachute Excise Tax and
the amount of such Parachute Excise Tax, such payments will be treated as
"parachute payments" within the meaning of Section 280G of the Code, and all
"parachute payments" in excess of the "base amount" (as defined under Section
280G(b)(3) of the Code) shall be treated as subject to the Parachute Excise tax,
unless and except to the extent, that in the opinion of the accountants, such
payments (in whole or in part) either do not constitute "parachute payments" or
represent reasonable compensation for services actually rendered (within the
meaning of Section 280G(b)(4) of the Code) in excess of the "base amount," or
such "parachute payments" are otherwise not subject to such Parachute Excise
Tax. For purposes of determining the amount of the Gross-up Payment, if any, the
Employee shall be deemed to pay federal income taxes at the highest applicable
marginal rate of federal income taxation for the calendar year in which the
gross-up payment is to be made and to pay any applicable state and local income
taxes at the highest applicable marginal rate of taxation for the calendar year
in which the gross-up payment is to be made, net of the maximum reduction in
federal income taxes which could be obtained from the deduction of such state or
local taxes if

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paid in such year (determined without regard to limitations on deductions based
upon the amount of the Employee's adjusted gross income); and to have otherwise
allowable deductions for federal, state and local income tax purposes at least
equal to those disallowed because of the inclusion of the gross-up payment in
the Employee adjusted gross income. Any Gross-up Payment shall be paid by the
Company at the time the Employee is entitled to receive the Payment. Any
determination by the auditor shall be binding upon the Company and the Employee.

             4.4. Underpayment or Overpayment. In the event of any underpayment
or overpayment to the Employee (determined after the application of Section
4.2), the amount of such underpayment or overpayment will be, as promptly as
practicable, paid by the Company to the Employee or refunded by the Employee to
the Company, as the case may be, with interest at the applicable federal rate
specified in Section 1274(d) of the Code.

5.       Timing of Payments Following Termination. Notwithstanding any provision
of this Agreement, the payments and benefits described in Sections 2, 3 and 4
are conditioned on the Employee's execution and delivery to the Company of a
Release in a manner consistent with the Older Workers Benefit Protection Act and
any similar state law that is applicable. The amounts described in Sections
2.2(a) or 3(a) (as applicable) will be paid in a lump sum, as soon as the
Release becomes irrevocable following the Employee's execution and delivery of
the Release.

6.       Restrictive Covenants. As consideration for all of the payments to be
made to the Employee pursuant to Sections 2, 3, and 4 of this Agreement, the
Employee agrees to be bound by the Restrictive Covenants set forth in this
Section 6. The Restrictive Covenants will apply without regard to whether any
termination of the Employee's employment is initiated by the Company or the
Employee, and without regard to the reason for that termination.

             6.1. Covenant Not To Compete. The Employee covenants that, during
the Restricted Period, the Employee will not (except in his or her capacity as
an employee or director of the Company or with the prior consent of the Company)
do any of the following, directly or indirectly, anywhere in the world:

                  6.1.1. engage or participate in any business competitive with
the Business;

                  6.1.2. become interested (as owner, stockholder, lender,
partner, co-venturer, director, officer, employee, agent or consultant) in any
person, firm, corporation, association or other entity engaged in any business
competitive with the Business. Notwithstanding the foregoing, the Employee may
hold up to 4.9% of the outstanding securities of any class of any
publicly-traded securities of any company;

                  6.1.3. engage in any business, or solicit or call on any
customer, supplier, licensor, licensee, contractor, agent, representative,
advisor, strategic partner, distributor or other person with whom the Company
shall have dealt or any prospective customer, supplier, licensor, licensee,
contractor, agent, representative, advisor, strategic partner, distributor or
other person that the Company shall have identified and solicited at any time
during the Employee's employment by the Company for a purpose competitive with
the Business;

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                    6.1.4. influence or attempt to influence any employee,
consultant, customer, supplier, licensor, licensee, contractor, agent,
representative, advisor, strategic partner, distributor or other person to
terminate or adversely modify any written or oral agreement, arrangement or
course of dealing with the Company; or

                    6.1.5. solicit for employment or employ or retain (or
arrange to have any other person or entity employ or retain) any person who has
been employed or retained by the Company within the 12 months preceding the
termination of the Employee's employment with the Company for any reason.

             6.2. Confidentiality. The Employee recognizes and acknowledges that
the Proprietary Information is a valuable, special and unique asset of the
business of the Company. As a result, both during the Employee's employment by
the Company and thereafter, the Employee will not, without the prior written
consent of the Company, for any reason either directly or indirectly divulge to
any third-party or use for his or her own benefit, or for any purpose other than
the exclusive benefit of the Company, any Proprietary Information, provided that
the Employee may during his or her employment by the Company disclose
Proprietary Information to third parties as may be necessary or appropriate to
the effective and efficient discharge of his or her duties as an employee
hereunder (provided that the third party recipient has signed the Company's
then-approved confidentiality or similar agreement) or as such disclosures may
be required by law. If the Employee or any of his or her representatives becomes
legally compelled to disclose any of the Proprietary Information, the Employee
will provide the Company with prompt written notice so that the Company may seek
a protective order or other appropriate remedy. The non-disclosure and non-use
obligations with respect to Proprietary Information set forth in this Section
6.2 shall not apply to any information that is in or becomes part of the public
domain through no improper act on the part of the Employee.

             6.3. Property of the Company.

                    6.3.1. Proprietary Information. All right, title and
interest in and to Proprietary Information will be and remain the sole and
exclusive property of the Company. The Employee will not remove from the
Company's offices or premises any documents, records, notebooks, files,
correspondence, reports, memoranda or similar materials of or containing
Proprietary Information, or other materials or property of any kind belonging to
the Company unless necessary or appropriate in the performance of his or her
duties to the Company. If the Employee removes such materials or property in the
performance of his or her duties, the Employee will return such materials or
property to their proper files or places of safekeeping as promptly as possible
after the removal has served its specific purpose. The Employee will not make,
retain, remove and/or distribute any copies of any such materials or property,
or divulge to any third person the nature of and/or contents of such materials
or property or any other oral or written information to which he or she may have
access or become familiar in the course of his or her employment, except to the
extent necessary in the performance of his or her duties. Upon termination of
the Employee's employment with the Company, he or she will leave with the
Company or promptly return to the Company all originals and copies of such
materials or property then in his or her possession.

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                     6.3.2. Intellectual Property. The Employee agrees that all
the Intellectual Property will be considered "works made for hire" as that term
is defined in Section 101 of the Copyright Act (17 U.S.C. ss. 101) and that all
right, title and interest in such Intellectual Property will be the sole and
exclusive property of the Company. To the extent that any of the Intellectual
Property may not by law be considered a work made for hire, or to the extent
that, notwithstanding the foregoing, the Employee retains any interest in the
Intellectual Property, the Employee hereby irrevocably assigns and transfers to
the Company any and all right, title, or interest that the Employee may now or
in the future have in the Intellectual Property under patent, copyright, trade
secret, trademark or other law, in perpetuity or for the longest period
otherwise permitted by law, without the necessity of further consideration. The
Company will be entitled to obtain and hold in its own name all copyrights,
patents, trade secrets, trademarks and other similar registrations with respect
to such Intellectual Property. The Employee further agrees to execute any and
all documents and provide any further cooperation or assistance reasonably
required by the Company to perfect, maintain or otherwise protect its rights in
the Intellectual Property. If the Company is unable after reasonable efforts to
secure the Employee's signature, cooperation or assistance in accordance with
the preceding sentence, whether because of the Employee's incapacity or any
other reason whatsoever, the Employee hereby designates and appoints the Company
or its designee as the Employee's agent and attorney-in-fact, to act on his or
her behalf, to execute and file documents and to do all other lawfully permitted
acts necessary or desirable to perfect, maintain or otherwise protect the
Company's rights in the Intellectual Property. The Employee acknowledges and
agrees that such appointment is coupled with an interest and is therefore
irrevocable.

             6.4. Acknowledgements. The Employee acknowledges that the
Restrictive Covenants are reasonable and necessary to protect the legitimate
interests of the Company and its affiliates and that the duration and geographic
scope of the Restrictive Covenants are reasonable given the nature of this
Agreement and the position the Employee holds within the Company. The Employee
further acknowledges that the Restrictive Covenants are included herein in order
to induce the Company to enter into this Agreement and that the Company would
not have entered into this Agreement in the absence of the Restrictive
Covenants.

             6.5. Remedies and Enforcement Upon Breach.

                     6.5.1. Specific Enforcement. The Employee acknowledges that
any breach by him or her, willfully or otherwise, of the Restrictive Covenants
will cause continuing and irreparable injury to the Company for which monetary
damages would not be an adequate remedy. The Employee shall not, in any action
or proceeding to enforce any of the provisions of this Agreement, assert the
claim or defense that such an adequate remedy at law exists. In the event of any
such breach by the Employee, the Company shall have the right to enforce the
Restrictive Covenants by seeking injunctive or other relief in any court,
without any requirement that a bond or other security be posted, and this
Agreement shall not in any way limit remedies of law or in equity otherwise
available to the Company.

                     6.5.2. Judicial Modification. If any court determines that
any of the Restrictive Covenants, or any part thereof, is unenforceable because
of the duration or geographical scope of such provision, such court shall have
the power to modify such provision and, in its modified form, such provision
shall then be enforceable.

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                      6.5.3. Accounting. If the Employee breaches any of the
Restrictive Covenants, the Company will have the right and remedy to require the
Employee to account for and pay over to the Company all compensation, profits,
monies, accruals, increments or other benefits derived or received by the
Employee as the result of such breach. This right and remedy will be in addition
to, and not in lieu of, any other rights and remedies available to the Company
under law or in equity.

                      6.5.4. Enforceability. If any court holds the Restrictive
Covenants unenforceable by reason of their breadth or scope or otherwise, it is
the intention of the parties hereto that such determination not bar or in any
way affect the right of the Company to the relief provided above in the courts
of any other jurisdiction within the geographic scope of such Restrictive
Covenants.

                      6.5.5. Disclosure of Restrictive Covenants. The Employee
agrees to disclose the existence and terms of the Restrictive Covenants to any
employer that the Employee may work for during the Restricted Period.

                      6.5.6. Extension of Restricted Period. If the Employee
breaches Section 6.1 in any respect, the restrictions contained in that section
will be extended for a period equal to the period that the Employee was in
breach.

7. Miscellaneous.

             7.1. No Liability of Officers and Directors for Severance Upon
Insolvency. Notwithstanding any other provision of the Agreement and intending
to be bound by this provision, the Employee hereby (a) waives any right to claim
payment of amounts owed to him or her, now or in the future, pursuant to this
Agreement from directors or officers of the Company if the Company becomes
insolvent, and (b) fully and forever releases and discharges the Company's
officers and directors from any and all claims, demands, liens, actions, suits,
causes of action or judgments arising out of any present or future claim for
such amounts.

             7.2. Successors and Assigns. The Company may assign this Agreement
to any successor to all or substantially all of its assets and business by means
of liquidation, dissolution, merger, consolidation, transfer of assets, or
otherwise. The rights of the Employee hereunder are personal to the Employee and
may not be assigned by him.

             7.3. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the Commonwealth of Pennsylvania
without regard to the principles of conflicts of laws.

             7.4. Enforcement. Any legal proceeding arising out of or relating
to this Agreement will be instituted in the United States District Court for the
Eastern District of Pennsylvania, or if that court does not have or will not
accept jurisdiction, in any court of general jurisdiction in the Commonwealth of
Pennsylvania, and the Employee and the Company hereby consent to the personal
and exclusive jurisdiction of such courts and hereby waive any objections that
they may have to personal jurisdiction, the laying of venue of any such
proceeding and any claim or defense of inconvenient forum.

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             7.5. Waivers; Separability. The waiver by either party hereto of
any right hereunder or any failure to perform or breach by the other party
hereto shall not be deemed a waiver of any other right hereunder or any other
failure or breach by the other party hereto, whether of the same or a similar
nature or otherwise. No waiver shall be deemed to have occurred unless set forth
in a writing executed by or on behalf of the waiving party. No such written
waiver shall be deemed a continuing waiver unless specifically stated therein,
and each such waiver shall operate only as to the specific term or condition
waived. If any provision of this Agreement shall be declared to be invalid or
unenforceable, in whole or in part, such invalidity or unenforceability shall
not affect the remaining provisions hereof which shall remain in full force and
effect.

             7.6. Notices. All notices and communications that are required or
permitted to be given hereunder shall be in writing and shall be deemed to have
been duly given when delivered personally or upon mailing by registered or
certified mail, postage prepaid, return receipt requested, as follows:

             If to the Company, to:

             Neose Technologies, Inc.
             102 Witmer Road
             Horsham PA 19044
             Attn: General Counsel
             Fax: 215-315-9100

             With a copy to:

             Pepper Hamilton LLP
             3000 Two Logan Square
             18th & Arch Streets
             Philadelphia, PA 19103
             Attn: Barry M. Abelson, Esquire
             Fax: 215-981-4750

             If to Employee, to:

or to such other address as may be specified in a notice given by one party to
the other party hereunder.

             7.7. Entire Agreement; Amendments. This Agreement and the attached
exhibit contain the entire agreement and understanding of the parties relating
to the provision of severance benefits upon termination, and merges and
supersedes all prior and contemporaneous discussions, agreements and
understandings of every nature relating to that subject, including but not
limited to the Retention Agreement by and between the Employee and the Company
dated _________ and the Noncompetition and Confidentiality Agreement by and
between the

                                      -11-

<PAGE>

Employee and the Company dated __________. This Agreement may not be changed or
modified, except by an Agreement in writing signed by each of the parties
hereto.

             7.8.  Withholding. The Company will withhold from any payments due
to Employee hereunder, all taxes, FICA or other amounts required to be withheld
pursuant to any applicable law.

             7.9.  Headings Descriptive. The headings of sections and paragraphs
of this Agreement are inserted for convenience only and shall not in any way
affect the meaning or construction of any provision of this Agreement.

             7.10. Counterparts. This Agreement may be executed in multiple
counterparts, each of which will be deemed to be an original, but all of which
together will constitute but one and the same instrument.

             IN WITNESS WHEREOF, the parties hereto have executed this Agreement
on the date and year first above written.

                                    NEOSE TECHNOLOGIES, INC.

                                    By:   ______________________________________
                                          C. Boyd Clarke
                                          President and Chief Executive Officer

                                    ____________________________________________
                                    Employee

                                      -12-

<PAGE>

                                    Exhibit A
                     Release and Non-Disparagement Agreement

           THIS RELEASE AND NON-DISPARAGEMENT AGREEMENT (this "Release") is made
as of the ___ day of _______, _____ by and between ____________________ (the
"Employee") and NEOSE TECHNOLOGIES, INC. (the "Company").

           WHEREAS, the Employee's employment as an executive of the Company has
terminated; and

           WHEREAS, pursuant to Section[s] [2] [3] [and 4] of the Change of
Control Agreement by and between the Company and the Employee dated as of
__________ ___, 2002 (the "Change of Control Agreement"), the Company has agreed
to pay the Employee certain amounts and to provide him or her with certain
rights and benefits, subject to the execution of this Release.

           NOW THEREFORE, in consideration of these premises and the mutual
promises contained herein, and intending to be legally bound hereby, the parties
agree as follows:

SECTION 1. Consideration. The Employee acknowledges that: (a) the payments,
rights and benefits set forth in Section[s] [2] [3] [and 4] of the Change of
Control Agreement constitute full settlement of all of his or her rights under
the Change of Control Agreement, (b) he or she has no entitlement under any
other severance or similar arrangement maintained by the Company, and (c) except
as otherwise provided specifically in this Release, the Company does not and
will not have any other liability or obligation to the Employee. The Employee
further acknowledges that, in the absence of his or her execution of this
Release, the payments and benefits specified in Section[s] [2] [3] [and 4] of
the Change of Control Agreement would not otherwise be due to the Employee.

SECTION 2. Release and Covenant Not to Sue. The Employee hereby fully and
forever releases and discharges the Company and its parents, affiliates and
subsidiaries, including all predecessors and successors, assigns, officers,
directors, trustees, employees, agents and attorneys, past and present, from any
and all claims, demands, liens, agreements, contracts, covenants, actions,
suits, causes of action, obligations, controversies, debts, costs, expenses,
damages, judgments, orders and liabilities, of whatever kind or nature, direct
or indirect, in law, equity or otherwise, whether known or unknown, arising
through the date of this Release, out of his or her employment by the Company or
the termination thereof, including, but not limited to, any claims for relief or
causes of action under the Age Discrimination in Employment Act, 29 U.S.C. (S)
621 et seq., or any other federal, state or local statute, ordinance or
regulation regarding discrimination in employment and any claims, demands or
actions based upon alleged wrongful or retaliatory discharge or breach of
contract under any state or federal law, [except for any claims arising out of
the Tuition Reimbursement Agreement dated May 24, 2001 between Employee and the
Company]. The Employee expressly represents that he or she has not filed a
lawsuit or initiated any other administrative proceeding against the Company
(including for purposes of this Section 2, its parents, affiliates and
subsidiaries), and that he or she has not assigned any claim against the Company
(or its parents, affiliates and subsidiaries) to any other person or entity. The
Employee further promises not to initiate a lawsuit or to bring any other claim
against the Company (or its parents, affiliates and subsidiaries) arising out of
or in any way related to his or her employment by the Company or the termination
of that employment. The forgoing will not be deemed to release the Company from
(a) claims solely to enforce this Release, (b) claims solely to enforce
Section[s] [2] [3] [and 4] of the Change of Control Agreement, (c) claims for
indemnification under the Company's By-Laws, under any indemnification agreement
between the Company and the

<PAGE>

Employee or under any similar agreement or (d) claims solely to enforce the
terms of any equity incentive award agreement between the Employee and the
Company. This Release will not prevent the Employee from filing a charge with
the Equal Employment Opportunity Commission (or similar state agency) or
participating in any investigation conducted by the Equal Employment Opportunity
Commission (or similar state agency); provided, however, that any claims by the
Employee for personal relief in connection with such a charge or investigation
(such as reinstatement or monetary damages) would be barred.

SECTION 3. Restrictive Covenants. The Employee acknowledges that the terms of
Section 6 of the Change in Control Agreement will survive the termination of his
or her employment. The Employee affirms that the restrictions contained in
Section 6 of the Change in Control Agreement are reasonable and necessary to
protect the legitimate interests of the Company, that he or she received
adequate consideration in exchange for agreeing to those restrictions and that
he or she will abide by those restrictions.

SECTION 4. Non-Disparagement. The Company (meaning, solely for this purpose,
Company's directors and executive officers and other individuals authorized to
make official communications on Company's behalf) will not disparage the
Employee or the Employee's performance or otherwise take any action which could
reasonably be expected to adversely affect the Employee's personal or
professional reputation. Similarly, the Employee will not disparage Company or
any of its directors, officers, agents or employees or otherwise take any action
which could reasonably be expected to adversely affect the reputation of the
Company or the personal or professional reputation of any of the Company's
directors, officers, agents or employees.

SECTION 5. Cooperation. The Employee further agrees that, subject to
reimbursement of his or her reasonable expenses, he or she will cooperate fully
with the Company and its counsel with respect to any matter (including
litigation, investigations, or governmental proceedings) which relates to
matters with which the Employee was involved during his or her employment with
Company. The Employee shall render such cooperation in a timely manner on
reasonable notice from the Company.

SECTION 6. Rescission Right. The Employee expressly acknowledges and recites
that (a) he or she has read and understands this Release in its entirety, (b) he
or she has entered into this Release knowingly and voluntarily, without any
duress or coercion; (c) he or she has been advised orally and is hereby advised
in writing to consult with an attorney with respect to this Release before
signing it; (d) he or she was provided 21 calendar days after receipt of the
Release to consider its terms before signing it (or such longer period as is
required for this Release to be effective under the Age Discrimination in
Employment Act or any similar state law); and (e) he or she is provided seven
(7) calendar days from the date of signing to terminate and revoke this Release
(or such longer period required by applicable state law), in which case this
Release shall be unenforceable, null and void. The Employee may revoke this
Release during those seven (7) days (or such longer period required by
applicable state law) by providing written notice of revocation to the Company.

SECTION 7. Challenge. If the Employee violates or challenges the enforceability
of any provisions of the Noncompetition Agreement or this Release, no further
payments, rights or benefits under Section[s] [2] [3] [and 4] of the Change of
Control Agreement will be due to the Employee.

SECTION 8. Miscellaneous.

                                       -2-

<PAGE>

                  8.1. No Admission of Liability. This Release is not to be
construed as an admission of any violation of any federal, state or local
statute, ordinance or regulation or of any duty owed by the Company to the
Employee. There have been no such violations, and the Company specifically
denies any such violations.

                  8.2. No Reinstatement. The Employee agrees that he or she will
not apply for reinstatement with the Company or seek in any way to be
reinstated, re-employed or hired by the Company in the future.

                  8.3. Successors and Assigns. This Release shall inure to the
benefit of and be binding upon the Company and the Employee and their respective
successors, executors, administrators and heirs. The Employee may make any
assignment of this Release or any interest herein, by operation of law or
otherwise. The Company may assign this Release to any successor to all or
substantially all of its assets and business by means of liquidation,
dissolution, merger, consolidation, transfer of assets, or otherwise.

                  8.4. Severability. Whenever possible, each provision of this
Release will be interpreted in such manner as to be effective and valid under
applicable law. However, if any provision of this Release is held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability will not affect any other provision, and this Release will be
reformed, construed and enforced as though the invalid, illegal or unenforceable
provision had never been herein contained.

                  8.5. Entire Agreement; Amendments. Except as otherwise
provided herein, this Release contains the entire agreement and understanding of
the parties hereto relating to the subject matter hereof, and merges and
supersedes all prior and contemporaneous discussions, agreements and
understandings of every nature relating to the subject matter hereof. This
Release may not be changed or modified, except by an Agreement in writing signed
by each of the parties hereto.

                  8.6. Governing Law. This Release shall be governed by, and
enforced in accordance with, the laws of the Commonwealth of Pennsylvania
without regard to the application of the principles of conflicts of laws.

                  8.7. Counterparts and Facsimiles. This Release may be
executed, including execution by facsimile signature, in one or more
counterparts, each of which shall be deemed an original, and all of which
together shall be deemed to be one and the same instrument.

                  IN WITNESS WHEREOF, the Company has caused this Release to be
executed by its duly authorized officer, and the Employee has executed this
Release, in each case as of the date first above written.

                                    NEOSE TECHNOLOGIES, INC.

                                    By:
                                    Name & Title:_______________________________

                                    EMPLOYEE

                                    ____________________________________________

                                       -3-<PAGE>

                                                                   Exhibit 10.33

                            MASTER SECURITY AGREEMENT
                   dated as of December 19, 2002 ("Agreement")

       THIS AGREEMENT is between General Electric Capital Corporation (together
 with its successors and assigns, if any, "Secured Party") and Neose
 Technologies, Inc. ("Debtor"). Secured Party has an office at 401 Merritt 7
 Suite 23, Norwalk, CT 06851-1177. Debtor is a other organized and existing
 under the laws of the state of Delaware. Debtor's mailing address and chief
 place of business is 102 Witmer Rd, Horsham, PA 19044.

 1.  CREATION OF SECURITY INTEREST.

     Debtor grants to Secured Party, its successors and assigns, a security
interest in and against all property listed on any collateral schedule now or in
the future annexed to or made a part of this Agreement ("Collateral Schedule"),
and in and against all additions, attachments, accessories and accessions to
such property, all substitutions, replacements or exchanges therefor, and all
insurance and/or other proceeds thereof (all such property is individually and
collectively called the "Collateral"). This security interest is given to secure
the payment and performance of all debts, obligations and liabilities of any
kind whatsoever of Debtor to Secured Party, now existing or arising in the
future, including but not limited to the payment and performance of certain
Promissory Notes from time to time identified on any Collateral Schedule
(collectively "Notes" and each a "Note"), and any renewals, extensions and
modifications of such debts, obligations and liabilities (such Notes, debts,
obligations and liabilities are called the "Indebtedness").

2.   REPRESENTATIONS, WARRANTIES AND COVENANTS OF DEBTOR.

     Debtor represents, warrants and covenants as of the date of this Agreement
and as of the date of each Collateral Schedule that:

     (a) Debtor's exact legal name is as set forth in the preamble of this
Agreement and Debtor is, and will remain, duly organized, existing and in good
standing under the laws of the State set forth in the preamble of this
Agreement, has its chief executive offices at the location specified in the
preamble, and is, and will remain, duly qualified and licensed in every
jurisdiction wherever necessary to carry on its business and operations;

     (b) Debtor has adequate power and capacity to enter into, and to perform
its obligations under this Agreement, each Note and any other documents
evidencing, or given in connection with, any of the Indebtedness (all of the
foregoing are called the "Debt Documents");

     (c) This Agreement and the other Debt Documents have been duly authorized,
executed and delivered by Debtor and constitute legal, valid and binding
agreements enforceable in accordance with their terms, except to the extent that
the enforcement of remedies may be limited under applicable bankruptcy and
insolvency laws;

     (d) No approval, consent or withholding of objections is required from any
governmental authority or instrumentality with respect to the entry into, or
performance by Debtor of any of the Debt Documents, except any already obtained;

     (e) The entry into, and performance by, Debtor of the Debt Documents will
not (i) violate any of the organizational documents of Debtor or any judgment,
order, law or regulation applicable to Debtor, or (ii) result in any breach of
or constitute a default under any contract to which Debtor is a party, or result
in the creation of any lien, claim or encumbrance on any of Debtor's property
(except for liens in favor of Secured Party) pursuant to any indenture,
mortgage, deed of trust, bank loan, credit agreement, or other agreement or
instrument to which Debtor is a party;

<PAGE>

     (f) There are no suits or proceedings pending in court or before any
commission, board or other administrative agency against or affecting Debtor
which could, in the aggregate, have a material adverse effect on Debtor, its
business or operations, or its ability to perform its obligations under the Debt
Documents, nor does Debtor have reason to believe that any such suits or
proceedings are threatened;

     (g) All financial statements delivered to Secured Party in connection with
the Indebtedness have been prepared in accordance with generally accepted
accounting principles, and since the date of the most recent financial
statement, there has been no material adverse change in Debtors financial
condition;

     (h) The Collateral is not, and will not be, used by Debtor for personal,
family or household purposes;

     (i) The Collateral is, and will remain, in good condition and repair and
Debtor will not be negligent in its care and use;

     (j) Debtor is, and will remain, the sole and lawful owner, and in
possession of, the Collateral, and has the sole right and lawful authority to
grant the security interest described in this Agreement; and

     (k) The Collateral is, and will remain, free and clear of all liens, claims
and encumbrances of any kind whatsoever, except for (i) liens in favor of
Secured Party, (ii) liens for taxes not yet due or for taxes being contested in
good faith and which do not involve, in the judgment of Secured Party, any risk
of the sale, forfeiture or loss of any of the Collateral, and (iii) inchoate
materialmen's, mechanic's, repairmen's and similar liens arising by operation of
law in the normal course of business for amounts which are not delinquent (all
of such liens are called "Permitted Liens").

3.   COLLATERAL.

     (a) Until the declaration of any default, Debtor shall remain in possession
of the Collateral; except that Secured Party shall have the right to possess (i)
any chattel paper or instrument that constitutes a part of the Collateral, and
(ii) any other Collateral in which Secured Party's security interest may be
perfected only by possession. Secured Party may inspect any of the Collateral
during normal business hours after giving Debtor reasonable prior notice. If
Secured Party asks, Debtor will promptly notify Secured Party in writing of the
location of any Collateral.

     (b) Debtor shall (i) use the Collateral only in its trade or business, (ii)
maintain all of the Collateral in good operating order and repair, normal wear
and tear excepted, (iii) use and maintain the Collateral only in compliance with
manufacturers recommendations and all applicable laws, and (iv) keep all of the
Collateral free and clear of all liens, claims and encumbrances (except for
Permitted Liens).

     (c) Secured Party does not authorize and Debtor agrees it shall not (i)
part with possession of any of the Collateral (except to Secured Party or for
maintenance and repair), (ii) remove any of the Collateral from the continental
United States, or (iii) sell, rent, lease, mortgage, license, grant a security
interest in or otherwise transfer or encumber (except for Permitted Liens) any
of the Collateral.

     (d) Debtor shall pay promptly when due all taxes, license fees, assessments
and public and private charges levied or assessed on any of the Collateral, on
its use, or on this Agreement or any of the other Debt Documents. At its option,
Secured Party may discharge taxes, liens, security interests or other
encumbrances at any time levied or placed on the Collateral and may pay for the
maintenance, insurance and preservation of the Collateral and effect compliance
with the terms of this Agreement or any of the other Debt Documents. Debtor
agrees to reimburse Secured Party, on demand, all costs and expenses incurred by
Secured Party in connection with such payment or performance and agrees that
such reimbursement obligation shall constitute Indebtedness.

     (e) Debtor shall, at all times, keep accurate and complete records of the
Collateral, and Secured Party shall have the right to inspect and make copies of
all of Debtor's books and records relating to the Collateral during normal
business hours, after giving Debtor reasonable prior notice.

<PAGE>

     (f) Debtor agrees and acknowledges that any third person who may at any
time possess all or any portion of the Collateral shall be deemed to hold, and
shall hold, the Collateral as the agent of, and as pledge holder for, Secured
Party. Secured Party may at any time give notice to any third person described
in the preceding sentence that such third person is holding the Collateral as
the agent of, and as pledge holder for, the Secured Party.

4.   INSURANCE.

     (a) Debtor shall at all times bear the entire risk of any loss, theft,
damage to, or destruction of, any of the Collateral from any cause whatsoever.

     (b) Debtor agrees to keep the Collateral insured against loss or damage by
fire and extended coverage perils, theft, burglary, and for any or all
Collateral which are vehicles, for risk of loss by collision, and if requested
by Secured Party, against such other risks as Secured Party may reasonably
require. The insurance coverage shall be in an amount no less than the full
replacement value of the Collateral, and deductible amounts, insurers and
policies shall be acceptable to Secured Party. Debtor shall deliver to Secured
Party policies or certificates of insurance evidencing such coverage. Each
policy shall name Secured Party as a loss payee, shall provide for coverage to
Secured Party regardless of the breach by Debtor of any warranty or
representation made therein, shall not be subject to co-insurance, and shall
provide that coverage may not be canceled or altered by the insurer except upon
thirty (30) days prior written notice to Secured Party. Debtor appoints Secured
Party as its attorney-in-fact to make proof of loss, claim for insurance and
adjustments with insurers, and to receive payment of and execute or endorse all
documents, checks or drafts in connection with insurance payments. Secured Party
shall not act as Debtor's attorney-in-fact unless Debtor is in default. Proceeds
of insurance shall be applied, at the option of Secured Party, to repair or
replace the Collateral or to reduce any of the Indebtedness.

5.   REPORTS.

     (a) Debtor shall promptly notify Secured Party of (i) any change in the
name of Debtor, (ii) any change in the state of its incorporation or
registration, (iii) any relocation of its chief executive offices, (iv) any
relocation of any of the Collateral, (v) any of the Collateral being lost,
stolen, missing, destroyed, materially damaged or worn out, or (vi) any lien,
claim or encumbrance other than Permitted Liens attaching to or being made
against any of the Collateral.

     (b) Debtor will deliver to Secured Party Debtor's complete financial
statements, certified by a recognized firm of certified public accountants,
within ninety (90) days of the close of each fiscal year of Debtor. If Secured
Party requests, Debtor will deliver to Secured Party copies of Debtor's
quarterly financial reports certified by Debtor's chief financial officer,
within ninety (90) days after the close of each of Debtor's fiscal quarter.
Debtor will deliver to Secured Party copies of all Forms 10-K and 10-Q, if any,
within 30 days after the dates on which they are filed with the Securities and
Exchange Commission.

6.   FURTHER ASSURANCES.

     (a) Debtor shall, upon request of Secured Party, furnish to Secured Party
such further information, execute and deliver to Secured Party such documents
and instruments (including, without limitation, Uniform Commercial Code
financing statements) and shall do such other acts and things as Secured Party
may at any time reasonably request relating to the perfection or protection of
the security interest created by this Agreement or for the purpose of carrying
out the intent of this Agreement. Without limiting the foregoing, Debtor shall
cooperate and do all acts deemed necessary or advisable by Secured Party to
continue in Secured Party a perfected first security interest in the Collateral,
and shall obtain and furnish to Secured Party any subordinations, releases,
landlord waivers, lessor waivers, mortgagee waivers, or control agreements, and
similar documents as may be from time to time requested by, and in form and
substance satisfactory to, Secured Party.

     (b) Debtor authorizes Secured Party to file a financing statement and
amendments thereto describing the Collateral and containing any other
information required by the applicable Uniform Commercial Code. Debtor
irrevocably grants to Secured Party the power to sign Debtor's name and
generally to act on behalf of Debtor to execute and file applications for title,
transfers of title, financing statements, notices of lien and other documents
pertaining to any or all of the Collateral; this power is coupled

<PAGE>

with Secured Party's interest in the Collateral. Debtor shall, if any
certificate of title be required or permitted by law for any of the Collateral,
obtain and promptly deliver to Secured Party such certificate showing the lien
of this Agreement with respect to the Collateral. Debtor ratifies its prior
authorization for Secured Party to file financing statements and amendments
thereto describing the Collateral and containing any other information required
by the Uniform Commercial Code if filed prior to the date hereof.

     (c) Debtor shall indemnify and defend the Secured Party, its successors and
assigns, and their respective directors, officers and employees, from and
against all claims, actions and suits (including, without limitation, related
attorneys' fees) of any kind whatsoever arising, directly or indirectly, in
connection with any of the Collateral.

7.   DEFAULT AND REMEDIES.

     (a) Debtor shall be in default under this Agreement and each of the other
Debt Documents if:

         (i)    Debtor breaches its obligation to pay when due any installment
or other amount due or coming due under any of the Debt Documents;

         (ii)   Debtor, without the prior written consent of Secured Party,
attempts to or does sell, rent, lease, license, mortgage, grant a security
interest in, or otherwise transfer or encumber (except for Permitted Liens) any
of the Collateral;

         (iii)  Debtor breaches any of its insurance obligations under Section
4;

         (iv)   Debtor breaches any of its other obligations under any of the
Debt Documents and fails to cure that breach within thirty (30) days after
written notice from Secured Party;

         (v)    Any warranty, representation or statement made by Debtor in any
of the Debt Documents or otherwise in connection with any of the Indebtedness
shall be false or misleading in any material respect;

         (vi)   Any of the Collateral is subjected to attachment, execution,
levy, seizure or confiscation in any legal proceeding or otherwise, or if any
legal or administrative proceeding is commenced against Debtor or any of the
Collateral, which in the good faith judgment of Secured Party subjects any of
the Collateral to a material risk of attachment, execution, levy, seizure or
confiscation and no bond is posted or protective order obtained to negate such
risk;

         (vii)  Debtor breaches or is in default under any other agreement
between Debtor and Secured Party;

         (viii) Debtor or any guarantor or other obligor for any of the
Indebtedness (collectively "Guarantor") dissolves, terminates its existence,
becomes insolvent or ceases to do business as a going concern;

         (ix)   If Debtor or any Guarantor is a natural person, Debtor or any
such Guarantor dies or becomes incompetent;

         (x)    A receiver is appointed for all or of any part of the property
of Debtor or any Guarantor, or Debtor or any Guarantor makes any assignment for
the benefit of creditors;

         (xi)   Debtor or any Guarantor files a petition under any bankruptcy,
insolvency or similar law, or any such petition is filed against Debtor or any
Guarantor and is not dismissed within forty-five (45) days;

         (xii)  Debtor's improper filing of an amendment or termination
statement relating to a filed financing statement describing the Collateral; or

         (xiii) Debtor defaults under any other material obligation for (A)
borrowed money, (B) the deferred purchase price of property or (C) payments due
under any lease agreement.

<PAGE>

     (b) If Debtor is in default, the Secured Party, at its option, may declare
any or all of the Indebtedness to be immediately due and payable, without demand
or notice to Debtor or any Guarantor. The accelerated obligations and
liabilities shall bear interest (both before and after any judgment) until paid
in full at the lower of eighteen percent (18%) per annum or the maximum rate not
prohibited by applicable law.

     (c) After default, Secured Party shall have all of the rights and remedies
of a Secured Party under the Uniform Commercial Code, and under any other
applicable law. Without limiting the foregoing, Secured Party shall have the
right to (i) notify any account debtor of Debtor or any obligor on any
instrument which constitutes part of the Collateral to make payment to the
Secured Party, (ii) with or without legal process, enter any premises where the
Collateral may be and take possession of and remove the Collateral from the
premises or store it on the premises, (iii) sell the Collateral at public or
private sale, in whole or in part, and have the right to bid and purchase at
said sale, or (iv) lease or otherwise dispose of all or part of the Collateral,
applying proceeds from such disposition to the obligations then in default. If
requested by Secured Party, Debtor shall promptly assemble the Collateral and
make it available to Secured Party at a place to be designated by Secured Party
which is reasonably convenient to both parties. Secured Party may also render
any or all of the Collateral unusable at the Debtor's premises and may dispose
of such Collateral on such premises without liability for rent or costs. Any
notice that Secured Party is required to give to Debtor under the Uniform
Commercial Code of the time and place of any public sale or the time after which
any private sale or other intended disposition of the Collateral is to be made
shall be deemed to constitute reasonable notice if such notice is given to the
last known address of Debtor at least five (5) days prior to such action.

     (d) Proceeds from any sale or lease or other disposition shall be applied:
first, to all costs of repossession, storage, and disposition including without
limitation attorneys', appraisers', and auctioneers' fees; second, to discharge
the obligations then in default; third, to discharge any other Indebtedness of
Debtor to Secured Party, whether as obligor, endorser, guarantor, surety or
indemnitor; fourth, to expenses incurred in paying or settling liens and claims
against the Collateral; and lastly, to Debtor, if there exists any surplus.
Debtor shall remain fully liable for any deficiency.

     (e) Debtor agrees to pay all reasonable attorneys' fees and other costs
incurred by Secured Party in connection with the enforcement, assertion, defense
or preservation of Secured Party's rights and remedies under this Agreement, or
if prohibited by law, such lesser sum as may be permitted. Debtor further agrees
that such fees and costs shall constitute Indebtedness.

     (f) Secured Party's rights and remedies under this Agreement or otherwise
arising are cumulative and may be exercised singularly or concurrently. Neither
the failure nor any delay on the part of the Secured Party to exercise any
right, power or privilege under this Agreement shall operate as a waiver, nor
shall any single or partial exercise of any right, power or privilege preclude
any other or further exercise of that or any other right, power or privilege.
SECURED PARTY SHALL NOT BE DEEMED TO HAVE WAIVED ANY OF ITS RIGHTS UNDER THIS
AGREEMENT OR UNDER ANY OTHER AGREEMENT, INSTRUMENT OR PAPER SIGNED BY DEBTOR
UNLESS SUCH WAIVER IS EXPRESSED IN WRITING AND SIGNED BY SECURED PARTY. A waiver
on any one occasion shall not be construed as a bar to or waiver of any right or
remedy on any future occasion.

     (g) DEBTOR AND SECURED PARTY UNCONDITIONALLY WAIVE THEIR RIGHTS TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
AGREEMENT, ANY OF THE OTHER DEBT DOCUMENTS, ANY OF THE INDEBTEDNESS SECURED
HEREBY, ANY DEALINGS BETWEEN DEBTOR AND SECURED PARTY RELATING TO THE SUBJECT
MATTER OF THIS TRANSACTION OR ANY RELATED TRANSACTIONS, AND/OR THE RELATIONSHIP
THAT IS BEING ESTABLISHED BETWEEN DEBTOR AND SECURED PARTY. THE SCOPE OF THIS
WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE
FILED IN ANY COURT. THIS WAIVER IS IRREVOCABLE. THIS WAIVER MAY NOT BE MODIFIED
EITHER ORALLY OR IN WRITING. THE WAIVER ALSO SHALL APPLY TO ANY SUBSEQUENT
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT, ANY OTHER
DEBT DOCUMENTS, OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THIS
TRANSACTION OR ANY RELATED TRANSACTION. THIS AGREEMENT MAY BE FILED AS A WRITTEN
CONSENT TO A TRIAL BY THE COURT.

8.   MISCELLANEOUS.

<PAGE>

     (a) This Agreement, any Note and/or any of the other Debt Documents may be
assigned, in whole or in part, by Secured Party without notice to Debtor, and
Debtor agrees not to assert against any such assignee, or assignee's assigns,
any defense, set-off, recoupment claim or counterclaim which Debtor has or may
at any time have against Secured Party for any reason whatsoever. Debtor agrees
that if Debtor receives written notice of an assignment from Secured Party,
Debtor will pay all amounts payable under any assigned Debt Documents to such
assignee or as instructed by Secured Party. Debtor also agrees to confirm in
writing receipt of the notice of assignment as may be reasonably requested by
Secured Party or assignee.

     (b) All notices to be given in connection with this Agreement shall be in
writing, shall be addressed to the parties at their respective addresses set
forth in this Agreement (unless and until a different address may be specified
in a written notice to the other party), and shall be deemed given (i) on the
date of receipt if delivered in hand or by facsimile transmission, (ii) on the
next business day after being sent by express mail, and (iii) on the fourth
business day after being sent by regular, registered or certified mail. As used
herein, the term "business day" shall mean and include any day other than
Saturdays, Sundays, or other days on which commercial banks in New York, New
York are required or authorized to be closed.

     (c) Secured Party may correct patent errors and fill in all blanks in this
Agreement or in any Collateral Schedule consistent with the agreement of the
parties.

     (d) Time is of the essence of this Agreement. This Agreement shall be
binding, jointly and severally, upon all parties described as the "Debtor" and
their respective heirs, executors, representatives, successors and assigns, and
shall inure to the benefit of Secured Party, its successors and assigns.

     (e) This Agreement and its Collateral Schedules constitute the entire
agreement between the parties with respect to the subject matter of this
Agreement and supersede all prior understandings (whether written, verbal or
implied) with respect to such subject matter. THIS AGREEMENT AND ITS COLLATERAL
SCHEDULES SHALL NOT BE CHANGED OR TERMINATED ORALLY OR BY COURSE OF CONDUCT, BUT
ONLY BY A WRITING SIGNED BY BOTH PARTIES. Section headings contained in this
Agreement have been included for convenience only, and shall not affect the
construction or interpretation of this Agreement.

     (f) This Agreement shall continue in full force and effect until all of the
Indebtedness has been indefeasibly paid in full to Secured Party or its
assignee. The surrender, upon payment or otherwise, of any Note or any of the
other documents evidencing any of the Indebtedness shall not affect the right of
Secured Party to retain the Collateral for such other Indebtedness as may then
exist or as it may be reasonably contemplated will exist in the future. This
Agreement shall automatically be reinstated if Secured Party is ever required to
return or restore the payment of all or any portion of the Indebtedness (all as
though such payment had never been made).

     (g) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL IN ALL RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE
INTERNAL LAWS OF THE STATE OF CONNECTICUT (WITHOUT REGARD TO THE CONFLICT OF
LAWS PRINCIPLES OF SUCH STATE), INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY
AND PERFORMANCE, REGARDLESS OF THE LOCATION OF THE EQUIPMENT.

<PAGE>

     IN WITNESS WHEREOF, Debtor and Secured Party, intending to be legally bound
hereby, have duly executed this Agreement in one or more counterparts, each of
which shall be deemed to be an original, as of the day and year first aforesaid.

SECURED PARTY:                              DEBTOR:

General Electric Capital Corporation        Neose Technologies, Inc.

By:  /s/ John Edel                          By:  /s/ A. Brian Davis
   -------------------------------             -------------------------------

Name:   John Edel                           Name:   A. Brian Davis
     -----------------------------               -----------------------------

Title:  Senior Vice President               Title:  Vice President, Finance
      ----------------------------                ----------------------------

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