Document:

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                                                                   Exhibit 10.12

                               BRITESMILE, INC.

                  EMPLOYEE/CONSULTANT STOCK OPTION AGREEMENT

                (Revised 1997 Stock Option and Incentive Plan)

Participant: ___________________
Date of Grant: _________________
Number of Covered Shares: ______
Exercise Price Per Share: ________

          This Stock Option Agreement ("Agreement") is entered into as of the
_____ day of _________________, ______ between BriteSmile, Inc. a Utah
corporation (the "Company"), and ___________________ ("Optionee").

          WHEREAS, the Company has adopted the BriteSmile, Inc. Revised 1997
Stock Option and Incentive Plan (the "Plan") and has approved the granting to
certain officers and key employees of the Company nonqualified stock options to
purchase common stock of the Company, par value $.001 per share ("Common
Stock"); and

          WHEREAS, Optionee is employed by the Company, or is engaged by the
Company as a key consultant, and the Company desires that Optionee remain in
such employ and desires to secure or increase Optionee's stock ownership of the
Company in order to increase Optionee's incentive and personal interest in the
welfare of the Company.

          NOW, THEREFORE, in consideration of the premises, covenants and
agreements hereinafter set forth, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
have agreed and do hereby agree as follows:

          1.   Grant of Options.  The Company hereby grants to Optionee options
               ----------------
(the "Options") to purchase all or any part of an aggregate amount of
____________________ (____________) shares of the Common Stock of the Company at
a purchase price of $______ per share, on the terms and conditions hereinafter
set forth.

          2.   Term of Options. Except as otherwise provided in Section 4 below,
               ---------------
the Options shall vest and become exercisable pursuant to the following vesting
schedule, and shall remain exercisable until ten (10) years after the date of
this Agreement, at which time the Options shall terminate and not be exercisable
thereafter:

               a.   Options to purchase _____________ of the total number of
shares subject to Options granted shall vest and become exercisable as of the
date hereof.

               b.   Options to purchase ____________ of the total number of
shares subject to Options granted shall vest and become exercisable, provided
Optionee is then employed by the Company, on __________________.

               c.   Options to purchase ____________ of the total number of
shares subject to Options granted shall vest and become exercisable, provided
Optionee is then employed by the Company, on ______________.
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          3.   Exercise of Options.  The Options or any portion thereof may be
               -------------------
exercised by Optionee paying the purchase price of any shares with respect to
which the Options are being exercised by cash, certified check, bank draft or
postal or express money order.  Except as otherwise provided by the Plan
Committee before the Option is exercised, (i) all or a portion of the Exercise
Price may be paid by Optionee by delivery of shares of Common Stock owned by
Optionee and acceptable to the Committee having an aggregate Fair Market Value
(as of the date of exercise) that is equal to the amount of cash that would
otherwise be required; and (ii) Optionee may pay the Exercise Price by
authorizing a third party to sell shares of Stock (or a sufficient portion of
the shares) acquired upon exercise of the Option and remit to the Company a
sufficient portion of the sale proceeds to pay the entire Exercise Price and any
tax withholding resulting from such exercise.  In each case Optionee's payment
shall be delivered with a written notice of exercise which shall:

               a.   State the number of shares being exercised, the name,
address and social security number of each person for whom the stock certificate
or certificates for such shares of the Common Stock are to be registered;

               b.   Contain any representations and agreements as to Optionee's
investment intent with respect to the shares exercised as may be necessary and
satisfactory to the Company's counsel; and

               c.   Be signed by the person or persons entitled to exercise the
Options and, if the Options are being exercised by any person or persons other
than Optionee, be accompanied by proof satisfactory to counsel for the Company
of the right of such person or persons to exercise the Options.

          As a condition to the exercise of the Options, the Company may require
the person exercising the Options to make any representation and warranty to the
Company that may be required by any applicable law or regulation.

          4.   Termination of Employment or Death.
               ----------------------------------

               a.   In the event Optionee's employment shall terminate on
account of death, the Options held by Optionee, to the extent exercisable
through the date of death, may be exercised by a person who acquires the right
to exercise the Options, provided such exercise occurs within both the remaining
effective term of the Options and one year after the Optionee's death.

               b.   In the event Optionee's employment shall terminate on
account of retirement or permanent disability (as defined in the Plan), the
Options held by Optionee, to the extent exercisable through the date of such
retirement or disability, may be exercised by Optionee, provided such exercise
occurs within both the remaining effective term of the Options and one year from
the date of termination of employment.

               c.   In the event Optionee's employment shall terminate on
account of resignation, discharge not "for cause" (as defined below), or
expiration of elected term, Optionee may exercise the Options within both the
remaining effective term of the Options and three months from the date of
termination.

               d.   In the event Optionee's employment shall terminate on
account of discharge for cause, no exercise period shall exist and Optionee
shall forfeit the Options as of the date of termination.

               e.   To the extent not then exercisable in accordance with this
Section, the Options shall terminate on the date Optionee's employment
terminates with the Company.

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               f.   For purposes of this Agreement, "termination of employment"
shall be considered to occur when an employee is no longer an employee of the
Company or any Subsidiary, or when a consultant ceases to be engaged as a
consultant by the Company.  Whether an authorized leave of absence or absence on
military or government service shall constitute termination of employment for
purposes of this Plan shall be determined by the Committee.  Retirement shall be
considered to mean retirement pursuant to any applicable retirement plan of the
Company or any of its Subsidiaries.  Termination "for cause" shall mean
termination as a result of or caused by Optionee's theft or embezzlement from
the Company, the violation of a material term or condition of Optionee's
employment, substantial failure on the part of Optionee to perform his job
duties, the disclosure by Optionee of confidential information of the Company,
willful misconduct or dishonesty or conviction of or failure to contest
prosecution for a felony or a crime of moral turpitude, excessive absenteeism
unrelated to illness, the Optionee's stealing trade secrets or intellectual
property owned by the Company, any act by Optionee in competition with the
Company, or any other act, activity or conduct of Optionee which in the opinion
of the Committee is adverse to the best interests of the Company. The Options,
to the extent exercisable after death of Optionee, may be exercised by
Optionee's personal representatives.

          5.   Transfer of Options.  Unless the Company, upon advice of its
               -------------------
securities counsel, directs otherwise, the Options may not be assigned or
transferred in any manner except upon the death of Optionee by will or by the
laws of descent and distribution.  During the lifetime of Optionee, the Options
shall be exercisable only by Optionee.

          6.   Reservation of Shares.  The Company, during the term hereof, will
               ---------------------
at all times reserve and keep available, and will seek or obtain from any
regulatory body having jurisdiction any requisite authority in order to issue
and sell such number of shares of its Common Stock as shall be sufficient to
satisfy the requirements hereof.  The inability of the Company to obtain from
any regulatory body having jurisdiction the authority deemed by the Company's
counsel to be necessary to the lawful issuance and sale of any shares of stock
hereunder shall relieve the Company of any liability in respect of the
nonissuance or sale of such stock as to which such requisite authority shall not
have been obtained.

          7.   Application of Section 16(b).  The parties acknowledge that, if
               ----------------------------
Optionee is an officer, director or ten percent (10%) shareholder of the
Company, the grant to Optionee of Options hereunder, or the Optionee's sale of
shares underlying the Options, may, unless the Plan is qualified under Rule 16b-
3 of the SEC, subject Optionee to liability under the insider trading
prohibitions of Section 16(b) of the Securities Exchange Act of 1934, if
Optionee purchases or sells Common Stock of the Company within six months before
or after the grant of the Options, or within six months before or after the sale
of the shares underlying the Options.  This acknowledgment is for informational
purposes only and is not to be construed as increasing, limiting or describing
the rights and obligations of the parties hereunder.

          8.   Restriction on Option Exercise.  Notwithstanding any contrary
               ------------------------------
provision hereof, the Options may not be exercised by Optionee unless the shares
to be acquired by Optionee have been registered under the Securities Act of 1933
(the "Act"), and any other applicable securities laws of any other state, or the
Company receives an opinion of counsel (which may be counsel for the Company)
reasonably acceptable to the Company stating that the exercise of the Options
and the issuance of shares pursuant to the exercise is registered or exempt from
such registration requirements.  Optionee shall represent that unless and until
the shares have been registered under the Act and applicable state securities
laws:  (1) Optionee is acquiring the shares for investment purposes only and
without the intent of making any sale or disposition thereof; (2) Optionee has
been advised and understands that the shares have not been registered for sale
pursuant to federal and state securities laws and are "restricted securities"
under such laws; and (3) Optionee acknowledges that the shares will be subject
to stop transfer instructions and bear the following legend:

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          THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
          REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
          UNDER ANY OTHER STATE SECURITIES LAWS AND MAY NOT BE
          OFFERED, SOLD OR TRANSFERRED IN THE ABSENCE OF REGISTRATION
          OR THE AVAILABILITY OF AN EXEMPTION FROM SUCH REGISTRATION.
          NO OFFER, SALE OR TRANSFER MAY TAKE PLACE WITHOUT PRIOR
          WRITTEN APPROVAL OF THE COMPANY BEING AFFIXED HERETO. IN THE
          ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT, SUCH
          APPROVAL SHALL BE GRANTED ONLY IF THE COMPANY HAS RECEIVED
          AN OPINION OF SHAREHOLDER'S COUNSEL AT SHAREHOLDER'S EXPENSE
          SATISFACTORY TO THE COMPANY TO THE EFFECT THAT THIS
          CERTIFICATE MAY BE LAWFULLY TRANSFERRED PURSUANT TO AN
          EXEMPTION FROM REGISTRATION.

          9.   Withholding of Taxes.  The Options may not be exercised unless
               --------------------
Optionee has paid or has made provision satisfactory to the Company for payment
of, federal, state and local income taxes, or any other taxes (other than stock
transfer taxes) which the Company may be obligated to collect as a result of the
issue or transfer of Common Stock upon such exercise of the Options.  In its
sole discretion, and at the request of Optionee, the Company may permit Optionee
(other than an Optionee who would be subject to Section 16(b) of the Exchange
Act) to satisfy the obligation imposed by this Section, in whole or in part, by
instructing the Company to withhold up to that number of shares otherwise
issuable to Optionee with a fair market value equal to the amount of tax to be
withheld.

          10.  Mergers, Reorganizations, and Certain Other Changes.  In the
               ---------------------------------------------------
event of the Company's liquidation, reorganization, separation, merger or
consolidation into, or acquisition of property or stock by another corporation,
or sale of substantially all assets to another corporation, the rights of
Optionee with respect to the Options granted hereunder shall be governed by the
Plan Committee, as provided in Section 9.12 (i) of the Plan.

          11.  Antidilution.  The aggregate number of shares of Common Stock
               ------------
available for issuance under the Options, and the price per share, shall all be
proportionately adjusted for any increase or decrease in the number of issued
shares of Common Stock subsequent to the date of this Agreement resulting from a
recapitalization, reorganization, merger, consolidation or similar transaction
as provided in the Plan.

          12.  No Rights as a Stockholder.  Optionee or a permitted transferee
               --------------------------
of the Options shall have no rights as a stockholder with respect to any shares
covered by the Options until the date as of which stock is issued following
exercise of such Options.  Except as provided in this Agreement, no adjustment
shall be made for dividends (ordinary or extraordinary, whether in cash,
securities or other property) or any other distributions for which the record
date is prior to the date as of which such stock is issued.

          13.  No Employment Rights.  This Agreement is not an employment
               --------------------
agreement or contract and does not grant any employment rights to Optionee.

          14.  Other Provisions.  The Company may, as a condition precedent to
               ----------------
the exercise of the Options, require Optionee (including, in the event of
Optionee's death, his legal representatives, legatees or distributees) to enter
into such agreements or to make such

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<PAGE>

representations as may be required to make lawful the exercise of the Options
and the ultimate disposition of the shares acquired by such exercise.

          15.  Notices.  Any notice which either of the parties hereto is
               -------
required or permitted to give to the other must be in writing and may be given
by personal delivery or by mailing the same by registered or certified mail,
return receipt requested, to the party to which or to whom the notice is
directed, at the address each party designates in writing.  Any notice mailed to
such address shall be effective when deposited in the mail, duly addressed and
postage prepaid, notwithstanding failure by the addressee thereof to receive the
mailed notice.

          16.  Governing Law.  All transactions contemplated hereunder and all
               -------------
rights of the parties hereto shall be governed as to validity, construction,
enforcement and in all other respects by the laws and decisions of the State of
Utah.

          17.  Titles.  The titles of the sections of this Agreement are
               ------
inserted only as a matter of convenience and for reference, and in no way
define, limit or describe the scope of this Agreement or the intent of any
provisions hereof.

          18.  Amendment.  This Agreement shall not be modified or amended
               ---------
except by written agreement signed by all of the parties hereto.

          19.  Attorney's Fees and Costs of Enforcement.  If any party to this
               ----------------------------------------
Agreement shall incur any costs resulting from enforcement of this Agreement,
the defaulting party shall be liable to the prevailing party for such costs.
Costs, as used herein, shall include costs of enforcement, interpretation, or
collection, including without limitation, reasonable attorney's fees, court
costs, collection charges, travel and other related or similar expenses.

          20.  Severability of Provisions.  Any provision of this Agreement
               --------------------------
which is invalid, prohibited, or unenforceable in any jurisdiction, shall not
invalidate the remainder of the provision or the remaining provisions of the
Agreement.

          21.  Entire Agreement.  Subject to the Plan, a copy of which in its
               ----------------
present form is available from the Secretary of the Company, this Agreement
contains all of the representations, declarations and statements from either
party to the other and expresses the entire understanding between the parties
with respect to the transactions provided for herein. All prior memoranda,
letters, statements and agreements concerning this subject matter, if any,
including any references to the grant of options to Optionee in any prior
employment agreement or employment offer letter, are merged in and replaced by
this Agreement.

          22.  Pronouns, Number and Gender.  Wherever necessary to implement the
               ---------------------------
intent of the parties hereto, references herein to the singular shall be
interpreted as the plural, and vice versa, and the feminine, masculine or neuter
gender shall be treated as one of the other genders.

          23.  Binding Effect.  This Agreement shall be binding upon and shall
               --------------
inure to the benefit of the parties hereto and their respective legal
representatives, successors and assigns.

          24.  Counterparts.  This Agreement may be executed in one or more
               ------------
counterparts, each of which may be deemed an original, but all of which together
shall constitute one and the same instrument.

          IN WITNESS WHEREOF, the parties hereto have signed this Agreement the
day and year first above written.

                                       5
<PAGE>

                              BriteSmile, Inc.

                              By:

                              Its:

                              OPTIONEE

                              ___________________________________

                                       6<PAGE>

                                                                   Exhibit 10.33
================================================================================

                           UNSECURED CREDIT AGREEMENT

                                 BY AND BETWEEN

                        BRITESMILE INTERNATIONAL LIMITED

                                      AND

                              CAP ADVISERS LIMITED

                            Dated March      , 2002

================================================================================

                           UNSECURED CREDIT AGREEMENT

                            Dated March      , 2002

     BRITESMILE INTERNATIONAL LIMITED an Irish company with company registration
no. 306119 and registered office at 36 Fitzwilliam Place, Dublin 2, Ireland (the
"Borrower"), and CAP ADVISERS LIMITED an English company with company
 --------
registration no. 2147486 acting through its Dublin branch at 36 Fitzwilliam
Place, Dublin 2, Ireland (the "Lender"), hereby agree as follows:
                               ------

                                   ARTICLE I

                                  DEFINITIONS

     1.   Section 1.1     Definitions.  For all purposes of this Agreement,
                          -----------
except as otherwise expressly provided, the following terms shall have the
meanings assigned to them in this Section or in the Section referenced after
such term:

          "Advance" means a Revolving Advance.
           -------

          "Agreement" means this Unsecured Credit Agreement.
           ---------

          "Availability" means the difference between (i) the Maximum Line and
           ------------
     (ii) the outstanding principal balance of the Obligations.

          "Banking Day" means a day on which the Federal Reserve Bank of New
           -----------
     York is open for business.

          "Base Rate" means the rate of interest publicly announced from time to
           ---------
     time by The Bank of Nova Scotia at its principal office in London as its
     "LIBOR  Rate" for one year US dollar deposits of marketable size by prime
     banks in the London inter-bank market.

          "Commitment" means the Lender's commitment to make Advances to the
           ----------
     Borrower pursuant to Article II.
<PAGE>

          "Credit Facility" means the credit facility being made available to
           ---------------
     the Borrower by the Lender under Article II.

          "Default" means an event that, with giving of notice or passage of
           -------
     time or both, would constitute an Event of Default.

          "Default Period" means any period of time beginning on the first day
           --------------
     of any month during which a Default or Event of Default has occurred and
     ending on the date the Lender notifies the Borrower in writing that such
     Default or Event of Default has been cured or waived.

          "Default Rate" means an annual interest rate equal to three percent
           ------------
     (3%) over the Floating Rate, which interest rate shall change when and as
     the Floating Rate changes.

          "Event of Default" has the meaning specified in Section 7.1.
           ----------------

          "Floating Rate" means an annual interest rate equal to the sum of the
           -------------
     Base Rate plus two percent (2.0%), which interest rate shall change when
     and as the Base Rate changes.

          "Funding Date" has the meaning given in Section 2.1.
           ------------

          "Lien" means any security interest, mortgage, deed of trust, pledge,
           ----
     lien, charge, encumbrance, title retention agreement or analogous
     instrument or device, including the interest of each lessor under any
     capitalized lease and the interest of any bondsman under any payment or
     performance bond, in, of or on any assets or properties of a Person,
     whether now owned or hereafter acquired and whether arising by agreement or
     operation of law.

          "Loan Documents" means this Agreement and any other documents relating
           --------------
     to the Credit Facility.

          "Maximum Line" means One Million United States Dollars (US$1,000,000).
           ------------

          "Obligations" means each and every debt, liability and obligation of
           -----------
     every type and description which the Borrower may now or at any time
     hereafter owe to the Lender under or pursuant to this Agreement, whether
     such debt, liability or obligation now exists or is hereafter created or
     incurred, whether it is direct or indirect, due or to become due, absolute
     or contingent, primary or secondary, liquidated or unliquidated, or sole,
     joint, several.

          "Person" means any individual, corporation, partnership, joint
           ------
     venture, limited liability company, association, joint-stock company,
     trust, unincorporated organization or government or any agency or political
     subdivision thereof.

          "Revolving Advance" has the meaning given in Section 2.1.
           -----------------

          "Termination Date" means the earliest of (i) the date the Borrower
           ----------------
     cancels the Credit Facility; or (ii) the date the Lender demands payment or
     repayment of all moneys owing in respect of the Credit Facility pursuant to
     Section 1.1; or (iii) the date the Lender demands payment of the
     Obligations after an Event of Default pursuant to section 7.2.

                                       2
<PAGE>

                                   ARTICLE II

                    AMOUNT AND TERMS OF THE CREDIT FACILITY

          Section 2.1     Revolving Advances.  The Lender agrees, on the terms
                          ------------------
and subject to the conditions herein set forth, to make advances to the Borrower
from time to time on or after January 1, 2002 in US dollars from the date all of
the conditions set forth in Section 4.1 are satisfied (the "Funding Date") to
                                                            ------------
the Termination Date (the "Revolving Advances"). The Lender shall have no
                           ------------------
obligation to make a Revolving Advance to the extent the amount of the requested
Revolving Advance exceeds Availability. Within the limits set forth in this
Section 2.1, the Borrower may borrow, prepay pursuant to Section 2.6 and
reborrow.

          Section 2.2     Procedures for Requesting Advances.  The Borrower
                          ----------------------------------
shall comply with the following procedures in requesting Revolving Advances:

               (a)        Time for Requests.  The Borrower shall request each
Advance not later than 11:00 a.m. Eastern Standard Time on the third Banking Day
prior to the day which is the date the Advance is to be made.  Each such request
shall be effective upon receipt by the Lender, shall be in writing or telecopy
transmission and shall be substantially in the form of Exhibit A unless the
Lender and the Borrower shall agree in writing to any other form, shall be by
(i) an Officer of the Borrower; or (ii) a Person designated as the Borrower's
agent by an Officer of the Borrower in a writing delivered to the Lender; or
(iii) a person whom the Lender reasonably believes to be an Officer of the
Borrower or such a designated agent.  The Borrower shall repay all Advances even
if the Lender does not receive such confirmation and even if the person
requesting an Advance was not in fact authorized to do so.  Any request for an
Advance, whether written or telephonic, shall be deemed to be a representation
by the Borrower that the conditions set forth in Section 4.1 have been satisfied
as of the time of the request, and shall be accompanied by the documents
referred to in Section 4.2.

(b)       Disbursement. Upon fulfillment of the applicable conditions set forth
in Article IV, the Lender shall disburse the proceeds of the requested Advance
by crediting the same to the Borrower's account in the name of BRITESMILE
INTERNATIONAL No. 0081803161 at the Bank of Hawaii, P.O. Box 2900, Honolulu, HI
96846, USA Routing No. 121301028, unless the Lender and the Borrower shall agree
in writing to another manner of disbursement.

          Section 2.3     Interest; Default Interest;
                          ---------------------------

               (a)        Revolving Advances.  Except as set forth in
subsection (b), the outstanding principal balance of the Revolving Advances
shall bear interest at the Floating Rate.

               (b)        Default Interest Rate.  At any time during any
Default Period, in the Lender's sole discretion and without waiving any of its
other rights and remedies, the principal of the Advances outstanding from time
to time shall bear interest at the Default Rate, effective for any periods
designated by the Lender from time to time during that Default Period.

          Section 2.4     Time for Interest Payments; Payment on Non-Banking
                          --------------------------------------------------
Days; Computation of Interest and Fees; Avoidance of Doubt.
----------------------------------------------------------

                (a)       Time For Interest Payments.  Interest shall accrue
from day to day and shall be due and payable in arrears on the last day of each
month and on the Termination Date.

                (b)       Payment on Non-Banking Days.  Whenever any payment
to be made hereunder shall be stated to be due on a day which is not a Banking
Day, such payment may be

                                       3
<PAGE>

made on the next succeeding Banking Day, and such extension of time shall in
such case be included in the computation of interest on the Advances or the fees
hereunder, as the case may be.

               (c)        Computation of Interest and Fees.  Interest accruing
                          --------------------------------
on the outstanding principal balance of the Advances and fees hereunder
outstanding from time to time shall be computed on the basis of actual number of
days elapsed in a year of three hundred sixty (360) days.

               (d)        Avoidance of Doubt.  For the avoidance of doubt, the
                          ------------------
Base Rate (and thus the Floating Rate and the Default Rate) applicable to each
Advance shall be determined at the date of the making of the Advance and shall
remain fixed until such time, if any, as the Lender refinances itself from Bank
of Nova Scotia Channel Islands Limited in respect of the funds used for that
Advance whereupon such Base Rate (and thus the Floating Rate and the Default
Rate) shall be recalculated by reference to Base Rate as at the date of such
refinancing, and the same shall apply mutatis mutandis in respect of further
such refinancings.

     Section 2.5      Voluntary Prepayment.  Except as otherwise provided herein
                      --------------------
provided herein, the Borrower may prepay the Advances in whole at any time or
from time to time in part.

     Section 2.6      Revolving Advances to Pay Obligations.   Notwithstanding
                      -------------------------------------
anything in Section 2.1, the Lender may, in its discretion at any time or from
time to time, without the Borrower's request and even if the conditions set
forth in Article IV would not be satisfied, make a Revolving Advance in an
amount equal to the portion of the Obligations from time to time due and
payable.

     Section 2.7      Use of Proceeds.  The Borrower shall use the proceeds of
                      ---------------
Advances for its general business purposes.

                                  ARTICLE III

                                     SETOFF

     Section 3.1      Setoff.  The Lender may at any time or from time to time,
                      ------
at its sole discretion and without demand and without notice to anyone,
set off any liability owed to the Borrower by the Lender, whether or not due,
against any Obligation, whether or not due.

                                   ARTICLE IV

                             CONDITIONS OF LENDING

     Section 4.1      Conditions Precedent to the Initial Revolving Advance. The
                      -----------------------------------------------------
Lender's obligation to make the initial Advance hereunder shall be subject to
the condition precedent that the Lender shall have received this Agreement,
properly executed by the Borrower.

     Section 4.2      Conditions Precedent to each Advance. The Lender's
                      ------------------------------------
obligation to make each Advance hereunder shall be subject to the condition
precedent that the Lender shall have received all of the following, each in form
and substance satisfactory to the Lender;

          (a)         A request substantially in the form of Exhibit A; and

          (b)         Evidence that after making the Advance, the Maximum Line
will not exceed Availability.

                                       4
<PAGE>

                                   ARTICLE V

                         REPRESENTATIONS AND WARRANTIES

     The Borrower represents and warrants to the Lender as follows:

     Section 5.1    Existence and Power. The Borrower is a corporation, duly
                    -------------------
organized, validly existing and in good standing under the laws of the Republic
of Ireland and is duly licensed or qualified to transact business in all
jurisdictions where the character of the property owned or leased or the nature
of the business transacted by it makes such licensing or qualification
necessary. The Borrower has all requisite power and authority to conduct its
business, to own its properties and to execute and deliver, and to perform all
of its obligations under, the Loan Documents.

     Section 5.2    Authorization of Borrowing; No Conflict as to Law or
                    -------------------------------------------------
Agreements.  The execution, delivery and performance by the Borrower of the
-----------
Loan Documents and the borrowings from time to time hereunder have been duly
authorized by all necessary corporate action, including the board of directors
of the Borrower and the board of directors, or executive committee of the board
of directors, of BriteSmile Inc, the parent company of the Borrower and do not
and will not (i) require any further consent or approval of the shareholders in
the Borrower; (ii) require any authorization, consent or approval by, or
registration, declaration or filing with, or notice to, any governmental
department, commission, board, bureau, agency or instrumentality, domestic or
foreign, or any third party, except such authorization, consent, approval,
registration, declaration, filing or notice as has been obtained, accomplished
or given prior to the date hereof; (iii)  result in a breach of or constitute a
default under any indenture or loan or credit agreement or any other material
agreement, lease or instrument to which the Borrower is a party or by which it
or its properties may be bound or affected; or (v) result in, or require, the
creation or imposition of any Lien upon or with respect to any of the properties
now owned or hereafter acquired by the Borrower.

     Section 5.3    Financial Condition; No Adverse Change.  The Burrower has
                    --------------------------------------
furnished to the Lender its audited financial statements for its fiscal year
ended December 31, 2000 and unaudited financial statements for the fiscal-year-
to-date period ended December 31, 2001, and those statements fairly present the
Borrower's financial condition on the dates thereof and the results of its
operations and cash flows for the periods then ended and were prepared in
accordance with generally accepted accounting principles. Since the date of the
most recent financial statements, there has been no change in the Borrower's
business, properties or condition (financial or otherwise) which could have a
material adverse effect on the Borrower's business operations, other than the
events of September 11, 2001, which have negatively impacted revenues.

     Section 5.4    Litigation.  There are no actions, suits or
                    ----------
proceedings pending or, to the Borrower's knowledge, threatened against or
affecting the Borrower or the properties of the Borrower before any court or
governmental department, commission, board, bureau, agency or instrumentality,
domestic or foreign, which, if determined adversely to the Borrower, would have
a material adverse effect on the financial condition, properties or operations
of the Borrower.

     Section 5.5    Taxes.  The Borrower has paid or caused to be paid to the
                    -----
proper authorities when due all federal, state and local taxes required to be
withheld by each of them. The Borrower has filed all tax returns which to the
knowledge of the Officers of the Borrower, as the case may be, are required to
be filed, and the Borrower has paid or caused to be paid to the respective
taxing authorities all taxes as shown on said returns or on any assessment
received by any of them to the extent such taxes have become due.

                                       5
<PAGE>

          Section 5.6       Default.  The Borrower is in compliance with all
                            -------
provisions of all agreements, instruments, decrees and orders to which it is a
party or by which it or its property is bound or affected, the breach or default
of which could have a material adverse effect on the Borrower's financial
condition, properties or operations.

          Section 5.7       Submissions to Lender.  All financial and other
                            ---------------------
information provided to the Lender by or on behalf of the Borrower in connection
with the Borrower's request for the credit facilities contemplated hereby is (i)
true and correct in all material respects, (ii) does not omit any material fact
necessary to make such information not misleading and, (iii) as to projections,
valuations or proforma financial statements, present a good faith opinion as to
such projections, valuations and proforma condition and results.

                                   ARTICLE VI

                                   COVENANTS

          So long as the Obligations shall remain unpaid, or the Credit Facility
shall remain outstanding, the Borrower will comply with the following
requirements, unless the Lender shall otherwise consent in writing:

          Section 6.1       Reporting Requirements. The Borrower will deliver,
                            ----------------------
or cause to be delivered, to the Lender each of the following, which shall be in
form and detail acceptable to the Lender:

                   (a)      Annual Financial Statements.  As soon as available,
and in any event within nine (9) months after the end of each fiscal year of the
Borrower, the Borrower will deliver, or cause to be delivered, to the Lender,
the Borrower's audited financial statements with the unqualified opinion of
independent certified public accountants selected by the Borrower and acceptable
to the Lender, which annual financial statements shall include the Borrower's
balance sheet as at the end of such fiscal year and the related statements of
the Borrower's income, retained earnings and cash flows for the fiscal year then
ended, prepared on a consolidating and consolidated basis to include any
Affiliates, all in reasonable detail and prepared in accordance with accounting
standards generally accepted in Ireland.

                   (b)      Projections.  At least thirty (30) days before the
beginning of each fiscal year of the Borrower, the Borrower will deliver to the
Lender the projected balance sheets and income statements for each month of such
year, each in reasonable detail, representing the Borrower's good faith
projections and certified by the Borrower's chief financial officer as being the
most accurate projections available and identical to the projections used by the
Borrower for internal planning purposes, together with a statement of underlying
assumptions and such supporting schedules and information as the Lender may in
its discretion require.

                   (c)      Defaults.  As promptly as practicable (but in any
event not later than five (5) business days) after an Officer of the Borrower
obtains knowledge of the occurrence of any Default or Event of Default, the
Borrower will deliver to the Lender notice of such occurrence, together with a
detailed statement by a responsible Officer of the Borrower of the steps being
taken by the Borrower to cure the effect thereof.

          Section 6.2       Books and Records; Inspection and Examination. The
                            ---------------------------------------------
Borrower will keep accurate books of record and account for itself pertaining to
the Borrower's business and financial condition and such other matters as the
Lender may from time to time request in which true and complete entries will be
made in accordance with accounting standards generally accepted in Ireland and,
upon the Lender's request, will permit any officer, employee, attorney or
accountant

                                       6
<PAGE>

for the Lender to audit, review, make extracts from or copy any and all company
and financial books and records of the Borrower at all times during ordinary
business hours, and to discuss the Borrower's affairs with any of its Directors,
Officers, employees or agents. The Borrower hereby irrevocably authorizes all
accountants and third parties to disclose and deliver to Lender, at the
Borrower's expense, all financial information, books and records, work papers,
management reports and other information in their possession regarding the
Borrower.

          Section 6.3       Payment of Taxes and Other Claims. The Borrower will
                            ---------------------------------
pay or discharge, when due, (a) all taxes, assessments and governmental charges
levied or imposed upon it or upon its income or profits, upon any properties
belonging to it, (b) all taxes required to be withheld by it, and (c) all lawful
claims for labor, materials and supplies which, if unpaid, might by law become a
Lien upon any properties of the Borrower; provided, that the Borrower shall not
be required to pay any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate
proceedings and for which proper reserves have been made.

                                  ARTICLE VII

  REPAYMENTS; CANCELLATION OF THE CREDIT FACILITY BY THE BORROWER; EVENTS OF
                         DEFAULT, RIGHTS AND REMEDIES

          Section 7.1       Repayments. Notwithstanding any other provision of
                            ----------
this Agreement, the Lender may at any time, by giving notice to that effect to
the Borrower; (i) cancel the Credit Facility whereupon the Credit Facility shall
cease to be available for further drawings and (ii) demand immediate payment or
repayment of all moneys owing in respect of Credit Facility, whereupon all such
amounts shall become immediately due and owing.

          Section 7.2       Events of Default. "Event of Default", wherever used
                            -----------------   ----------------
herein, means any one of the following events:

                   (a)      Default in the payment of any Obligations when they
become due and payable;

                   (b)      Default in the performance, or breach, of any
covenant or agreement of the Borrower contained in this Agreement and such
default or breach shall continue for ten (10) Banking Days; provided, that such
                                                            --------  ----
ten (10) Banking Day cure period shall not apply in the case of (i) any default
or event addressed in any other provision or paragraph of this Section 7.2, (ii)
the failure to comply with the covenants set forth in Section 6.2 or 6.3, (iii)
any default in the performance, or breach, of any such covenant or agreement
which is not capable of being cured at all or within such ten (10) Banking day
period or which has been the subject of a previous default or breach within the
prior twelve (12) month period, or (iv) an intentional breach by Borrower of
such covenant or agreement.;

                   (c)      The Borrower shall be or become insolvent, or admit
in writing its inability to pay its debts as they mature, or make an assignment
for the benefit of creditors; or the Borrower shall apply for or consent to the
appointment of any administrator, receiver, trustee, or similar officer for it
or for all or any substantial part of its property; or such administrator,
receiver, trustee or similar officer shall be appointed without the application
or consent of the Borrower  as the case may be; or the Borrower shall institute
(by petition, application, answer, consent or otherwise) any bankruptcy,
insolvency, reorganization, administration, arrangement, readjustment of debt,
dissolution, liquidation or similar proceeding relating to it under the laws of
any jurisdiction; or any such proceeding shall be instituted (by petition,
application or otherwise) against the Borrower or

                                       7
<PAGE>

any judgment, writ, warrant of attachment or execution or similar process shall
be issued or levied against a substantial part of the property of the Borrower;

          (d)     The Borrower shall liquidate, dissolve, terminate or suspend
its business operations or otherwise fail to operate its business in the
ordinary course, or sell or attempt to sell all or substantially all of its
assets, without the Lender's prior written consent;

          (e)     Default in the payment of any amount owed by the Borrower to
the Lender other than any indebtedness arising hereunder;

          (f)     Any event or circumstance with respect to the Borrower shall
occur such that the Lender shall believe in good faith that the prospect of
payment of all or any part of the Obligations or the performance by the Borrower
under the Loan Documents is impaired or any material adverse change in the
business or financial condition of the Borrower shall occur and such belief in
good faith shall continue for ten (10) Banking Days after the Lender shall have
notified the Borrower of such event or circumstance;

     Section 7.3  Rights and Remedies.  During any Default Period,
                  -------------------
the Lender may exercise any or all of the following rights and remedies:

          (a)     the Lender may, by notice to the Borrower, declare the
Commitment to be terminated, whereupon the same shall forthwith terminate;

          (b)     the Lender may, by notice to the Borrower, declare the
Obligations to be forthwith due and payable, whereupon all Obligations shall
become and be forthwith due and payable, without presentment, notice of
dishonor, protest or further notice of any kind, all of which the Borrower
hereby expressly waives;

          (c)     the Lender may, without notice to the Borrower and without
further action, apply any and all money owing by the Lender to the Borrower to
the payment of the Obligations;

Notwithstanding the foregoing, upon the occurrence of an Event of Default, the
Obligations shall be immediately due and payable automatically without
presentment, demand, protest or notice of any kind.

                                  ARTICLE VIII

                                 MISCELLANEOUS

     Section 8.1  No Waiver; Cumulative Remedies; Compliance with Laws.  No
                  ----------------------------------------------------
failure or delay by the Lender in exercising any right, power or remedy under
the Loan Documents shall operate as a waiver thereof; nor shall any single or
partial exercise of any such right, power or remedy preclude any other or
further exercise thereof or the exercise of any other right, power or remedy
under the Loan Documents. The remedies provided in the Loan Documents are
cumulative and not exclusive of any remedies provided by law.

     Section 8.2  Amendments, Etc.  No amendment, modification, termination or
                  ---------------
waiver of any provision of any Loan Document or consent to any departure by the
Borrower therefrom shall be effective unless the same shall be in writing and
signed by the Lender, and then such waiver or consent shall be effective only in
the specific instance and for the specific purpose for which given. No notice to
or demand on the Borrower in any case shall entitle the Borrower to any other or
further notice or demand in similar or other circumstances.

                                       8
<PAGE>

     Section 8.3  Addresses for Notices; Requests for Accounting. Except as
                  ----------------------------------------------
otherwise expressly provided herein, all notices, requests, demands and other
communications provided for under the Loan Documents shall be in writing and
shall be (a) personally delivered, (b) sent by first class mail, (c) sent by
overnight courier of national reputation, or (d) transmitted by telecopy, in
each case addressed or telecopied to the party to whom notice is being given at
its address or telecopier number as set forth below next to its signature or, as
to each party, at such other address or telecopier number as may hereafter be
designated by such party in a written notice to the other party complying as to
delivery with the terms of this Section. All such notices, requests, demands and
other communications shall be deemed to have been given on (a) the date received
if personally delivered, (b) when deposited in the mail if delivered by mail,
(c) the date sent if sent by overnight courier, or (d) the date of transmission
if delivered by telecopy, except that notices or requests to the Lender pursuant
to any of the provisions of Article II shall not be effective until received by
the Lender.

     Section 8.4  Costs and Expenses.  The Borrower shall pay on demand all
                  ------------------
costs and expenses, including reasonable legal fees and
disbursements, incurred by the Lender in connection with the Obligations, this
Agreement, the Loan Documents and any other document or agreement related hereto
or thereto, and the transactions contemplated hereby, including all such costs,
expenses and fees, other than internal costs and expenses, incurred in
connection with the administration and performance of the Obligations but
excluding the Lender's costs and expenses in connection with the preparation,
negotiation and execution of the Loan Documents.  The parties agree that, in the
event of any dispute arising under this Agreement, the Loan Documents and any
other document or agreement related hereto or thereto, including the collection
and enforcement of the Obligations, the prevailing party in any such dispute
shall be entitled to an award of all costs and expenses, excluding internal
costs and expenses but including without limitation attorneys' fees and legal
costs, which may arise from the enforcement thereof, whether such enforcement is
pursued by filing of a suit or otherwise.

     Section 8.5  Binding Effect; Assignment; Complete Agreement; Exchanging
                  ----------------------------------------------------------
Information.  The Loan Documents shall be binding upon and inure to the
-----------
benefit of the Borrower and the Lender and their respective successors and
assigns, except that the Borrower shall not have the right to assign its rights
thereunder or any interest therein without the Lender's prior written consent.

     Section 8.6  Severability of Provisions.  Any provision of this Agreement
                  --------------------------
which is prohibited or unenforceable shall be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions
hereof.

     Section 8.7  Headings.  Article, Section and subsection headings in this
                  --------
Agreement are included herein for convenience of reference only and shall not
constitute a part of this Agreement for any other purpose.

     Section 8.8  Governing Law; Jurisdiction.  The Loan Documents shall be
                  ---------------------------
governed by and construed in accordance with English law. Each of the parties
hereto hereby (i) consents to the jurisdiction of the Irish Courts in connection
with any controversy related to this Agreement; (ii) waives any argument that
venue in any such forum is not convenient, and (iii) agrees that a final
judgment in any such suit, action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law.

                                       9
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their respective officers thereunto duly authorized on the date
first above written.

36 Fitzwilliam Place                            BRITESMILE INTERNATIONAL LIMITED
Dublin 2,                                       By:   /s/ Brian Delaney
Ireland                                               -----------------
Telecopier: 353-1-661-2456                      Name: Brian Delaney
            --------------                            -------------
Attention:  Brian Delaney                       Its:  Director
            -------------                             --------

36 Fitzwilliam Place                            CAP ADVISERS LIMITED
--------------------                            Dublin Branch
Dublin 2                                        By:   /s/ SM Looby
--------                                              ------------
Ireland                                         Name: Susan Looby
-------                                               -----------
Telecopier: 353-1-661-2456                      Its:  Group Financial Controller
            --------------                            --------------------------
Attention:  Susan Looby
            -----------

                                       10
<PAGE>

                   EXHIBIT A TO CREDIT AND SECURITY AGREEMENT

                 [BRITESMILE INTERNATIONAL LIMITED LETTERHEAD]

To:         CAP Advisers Limited
            Dublin Branch
            36 Fitzwilliam Place
            Dublin 2
            Ireland

Telecopier:
Attention:

We refer to that certain Unsecured Credit Agreement dated        ,2002 (as
amended or modified to date, the "Credit Agreement") by and between Britesmile
International Limited and CAP Advisers Limited Dublin branch. Capitalised terms
used herein but not otherwise defined shall have the same meanings assigned to
them in the Credit Agreement.

Pursuant to Section 2.2(a) of the Credit Agreement, we hereby request or confirm
our request for an Advance on the date, of the type(s) and in the amount(s)
specified below.

Amount of Advance (US$)                         Date of Borrowing

                                                BRITESMILE INTERNATIONAL LIMITED

                                                By:.............................
                                                ................................
                                                Its:............................

                                       11

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