Document:

EXHIBIT 4.1

                                                                        SOP03009

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

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

                                THE RICEX COMPANY

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

     The RiceX Company, a Delaware corporation (the "Company"), hereby grants to
JAMES C.  LINTZENICH  (the  "Optionee"),  an option (the "Option") to purchase a
total of 50,000  shares of common  stock,  par value $.001,  of the Company (the
"Common  Stock") at an exercise price (the "Exercise  Price") equal to $0.25 per
share,  which is equal to the fair market value of the Company's Common Stock on
the date of the grant,  in all respects  subject to the terms,  definitions  and
provisions of this Nonstatutory Stock Option Agreement (the "Agreement").

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

         2.  Payment of Exercise Price.

             (a) Method of  Payment.  Payment of the  Exercise  Price for shares
purchased  upon  exercise  of the Option  shall be made (i) by  delivery  to the
Company of cash or a check to the order of the Company in an amount equal to the
purchase  price of such shares;  (ii) subject to the consent of the Company,  by
delivery to the Company of shares of Common  Stock of the Company  then owned by
the Optionee having a fair market value equal in amount to the purchase price of
such  shares in  accordance  with  Section  2(b);  or,  (iii) by any other means
approved by the Board of Directors and which is consistent  with applicable laws
and regulations  (including,  without  limitation,  the provisions of Rule 16b-3
under the  Securities  Exchange Act of 1934 and  Regulation T promulgated by the
Federal Reserve Board); or (iv) by any combination of such methods of payment.

<PAGE>
             (b) Method of Payment - Public Market.  In the event there exists a
public market for the Company's Common Stock on the date of exercise, payment of
the exercise  price may be made by surrender of shares of the  Company's  Common
Stock. In this case payment shall be made as follows:

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

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

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

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

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

                 (vi)  Notwithstanding any other provisions herein, the Optionee
shall only be permitted to pay the purchase  price with shares of the  Company's
Common Stock owned by him as of the  exercise  date in the manner and within the
time periods allowed under Rule 16b-3 promulgated under the Securities  Exchange
Act of 1934 as such regulation is presently  constituted,  as it is amended from
time to time,  and as it is  interpreted  now or hereafter

<PAGE>
by the Securities and Exchange  Commission and any such shares have been held by
the Optionee for not less than six (6) months.

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

             (a) Vesting and Right to Exercise.

                 (i) The Option hereby granted shall vest and become exercisable
on a prorated  basis over a  twelve-month  period  beginning  June 26, 2003. The
option will be fully vested on June 25, 2004.

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

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

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

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

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

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

             (b) Method of  Exercise.  In order to  exercise  any portion of the
Option, the Optionee shall execute and deliver to the Chief Financial Officer of
the Company the Notice of Exercise of Stock Option in the form  attached  hereto
as Exhibit "A," together with the Consent of Spouse. The Notice of Exercise must
be accompanied by payment in full of the

<PAGE>
aggregate  purchase  price  for  the  Shares  to be  purchased  in the  type  of
consideration set forth in Section 2. The Notice of Exercise may be delivered to
the  Company  at any time.  The  certificate(s)  for the  Shares as to which the
Option has been  exercised  shall be  registered  in the name of Optionee or his
designee.

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

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

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

         5. Term of the Option.  Except as otherwise provided in this Agreement,
to the extent not previously  exercised,  the right to exercise the Option shall
terminate on the tenth (10th) anniversary of the date of grant.  Notwithstanding
the foregoing, if an Optionee ceases to be a Board Member of the Company for any
reason, except death and disability,  he or she may, but only within ninety (90)
days  after  the date he or she  ceases  to be a Board  Member  of the  Company,
exercise his or her Option to the extent that he or she was entitled to exercise
it at the date of such  termination,  and in the case of the Optionee's death or
disability,   the   Optionee  (or  the   Administrator   or  Executor  or  other
Representative of the Optionee's estate) may, but only within one (1) year after
the date he or she ceases to be a Board  Member of the  Company  due to death or
disability, exercise his or her Option to the extent that he or she was entitled
to exercise it at the date of such  termination;  provided,  however  that in no
event may the Option be exercised  after the ten (10) year term has expired.  To
the extent that the  Optionee was not entitled to exercise an Option at the date
of such termination,  or if he or she does not exercise such Option (which he or
she was entitled to exercise) within the time specified herein, the Option shall
terminate.

         6.  Adjustments  Upon /Changes in  Capitalization;  Other  Adjustments.
Subject to any required action by the shareholders of the Company, the number of
Shares and the Exercise Price shall be proportionately adjusted for any increase
or  decrease in the number of issued  shares of Common  Stock  resulting  from a
stock split, reverse stock split, combination,

<PAGE>
reclassification,  the payment of a stock  dividend  on the Common  Stock or any
other  increase  or  decrease  in the  number of  shares of Common  Stock of the
Company  effected  without receipt of  consideration  by the Company;  provided,
however, that conversion of any convertible  securities of the Company shall not
be  deemed  to have been  "effected  without  receipt  of  consideration."  Such
adjustment shall be made by the Board, whose determination in that respect shall
be final, binding and conclusive.  Except as expressly provided herein, no issue
by the Company of shares of stock of any class, or securities  convertible  into
shares of stock of any class,  shall affect and no adjustment by reason  thereof
shall be made with respect to, the number of shares  subject to, or the Exercise
Price of, this Option.

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

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

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

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

         9.  Income Tax  Withholding.  The  Optionee  authorizes  the Company to
withhold, in accordance with applicable law from any compensation payable to him
or her, any taxes  required to be withheld by federal,  state or local laws as a
result  of the  exercise  of  this  Option.  Furthermore,  in the  event  of any
determination  that the Company has failed to withhold a sum  sufficient  to pay
all withholding  taxes due in connection  with the exercise of this Option,  the
Optionee  agrees to pay the Company the amount of such deficiency in cash within
five (5) days  after  receiving  a written  demand  from the  Company  to do so,
whether or not Optionee is an employee or director of the Company at that time.

         10. Investment Representations; Legends.

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

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

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

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

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

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

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

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

DATE OF GRANT:  June 26, 2003

The RiceX Company

                     By:      /s/ DANIEL L. MCPEAK, SR
                              -------------------------------------------
                              Daniel L. McPeak, Sr., Chief Executive Officer

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

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

Dated:
      ------------------------

                                          --------------------------------------
                                          JAMES C. LINTZENICH
                                          ("Optionee")

CONSENT OF SPOUSE

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

Dated:
      ------------------------

                                          --------------------------------------
                                          Signature

                                          --------------------------------------
                                          Print Name

<PAGE>
                                    EXHIBIT A
                                    ---------

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

SUBJECT: NOTICE OF EXERCISE OF STOCK OPTIONS

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

         Number of Shares
                           ------------------------
         Date of Purchase:
                           ------------------------
         Mode of Payment:                           (certified check or cash)
                           ------------------------

The shares should be issued as follows:

         Name:
                           ---------------------------------------------
         Address:
                           ---------------------------------------------

                           ---------------------------------------------

         Signed by (print name):
                                   ---------------------------------------------
         Signature:
                                   ---------------------------------------------
         Dated:
                                   ---------------------------------------------

Please send this notice of exercise to:

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

         Phone:  916-933-3000EXHIBIT 10.1

June 23, 2003

RiceX Company
1241 Hawk's Flight Court
Suite 103
El Dorado Hills, California  95762
Attention:

Ladies and Gentlemen:

Re:          Overseas  Private  Investment  Corporation  ("OPIC")  Commitment to
             Provide a Credit Facility to RiceX Central America (the "COMPANY")

Ladies and Gentlemen:

         This letter  (this  "LETTER")  and the Summary of Terms and  Conditions
(the "TERM SHEET"),  attached hereto as Annex A (this Letter,  together with the
Term Sheet,  the  "COMMITMENT  LETTER"),  constitute and set forth the terms and
conditions  of OPIC's  commitment  to provide a loan  facility in the  aggregate
principal  amount  of up to  US$6,000,000,  pursuant  to  Section  234(c) of the
Foreign Assistance Act of 1961, as amended,  to RiceX Central America, an entity
to be  formed  as a  wholly-owned  subsidiary  of  RiceX  Company  (the  "CREDIT
FACILITY").  OPIC is  willing to provide  the Credit  Facility  on the terms and
conditions  set forth in this  Commitment  Letter.  By signing  this  Commitment
Letter,  RiceX  Company (the  "SPONSOR")  (i) confirms its intention to form the
Company as a wholly-owned subsidiary of the Sponsor, (ii) confirms its intention
to cause the  Company  to borrow a loan or loans (the  "LOAN")  under the Credit
Facility on the terms and  conditions set forth herein,  and (iii)  acknowledges
and agrees to its obligations hereunder.

         The Sponsor represents and warrants to OPIC, as to itself and as to the
Company, where appropriate, that:

         (a) the execution and delivery of this Commitment  Letter has been duly
authorized  by the Sponsor,  and this  Commitment  Letter  constitutes  a valid,
legal, and binding obligation of such party;

         (b) all of the information,  data, representations,  or other materials
that have been or will be made available to OPIC by the Company, the Sponsor, or
their respective  representatives is, or will be at the time such information is
made available,  complete and correct in all material  respects and does not, or
will not at the time such  information  is made  available,  contain  any untrue
statement of a material fact or omit to state a material fact necessary in order
to make  the  statements  contained  therein  not  misleading  in  light  of the
circumstances under which such statements are made; and

<PAGE>
         (c) the Sponsor, and its officers,  directors,  employees,  and agents,
(i) have  complied with the Foreign  Corrupt  Practices Act of 1977 (Pub. L. No.
95-213,  ss.ss.101-104),  as amended, and all other laws,  regulations,  orders,
decrees,  or  directives  having  the  force  of law and  relating  to  bribery,
kick-backs, or similar business practices (collectively,  the "CORRUPT PRACTICES
LAWS") in obtaining any consents, licenses, approvals,  authorizations,  rights,
or privileges in respect of the Project;  (ii) have the internal  management and
accounting  practices and controls adequate to ensure compliance with applicable
Corrupt  Practices  Laws; and (iii) are otherwise  conducting  their  respective
businesses in compliance with all applicable Corrupt Practices Laws.

         The Sponsor  covenants and agrees for so long as this Commitment Letter
is in  effect,  to comply  with all  applicable  Corrupt  Practices  Laws and to
maintain internal  management and accounting  practices and controls adequate to
ensure compliance with applicable Corrupt Practices Laws

         The Sponsor and the Company shall, jointly and severally,  pay when due
the  Facility Fee (as defined in the Term Sheet) that becomes due and payable on
or prior to the date of execution of a definitive  loan  agreement  between OPIC
and the Company  setting forth the terms and  conditions of the Credit  Facility
(the "LOAN AGREEMENT").

         Each of the Sponsor and the Company shall,  jointly and severally,  pay
or, at OPIC's  discretion,  reimburse OPIC or such persons as OPIC may direct on
demand by OPIC for all expenses  (including  fees and expenses for outside legal
counsel and  consultants)  incurred by OPIC in  connection  with the issuance of
this Commitment Letter and the negotiation and preparation of the Loan Agreement
and  the  documents,   instruments,  and  approvals  required  to  be  delivered
thereunder,  and for all other  reasonable  out of pocket  expenses  incurred by
OPIC,  as well as any costs of collecting  any amount due under this  Commitment
Letter.

         The  Company  shall  at all  times  indemnify  and hold  harmless  (the
"INDEMNITY"),  OPIC and its directors, officers, controlling persons, employees,
advisors,  agents, and servants (each, an "INDEMNIFIED PERSON") from and against
and  reimburse  such  Indemnified  Persons for (i) any and all  losses,  claims,
damages,  liabilities,  penalties,  costs  and  expenses  of any kind or  nature
whatsoever in any way relating to or arising out of or in  connection  with this
Commitment  Letter to which an  Indemnified  Person may become  subject (each, a
"LOSS"); and (ii) any and all claims, litigation, investigations, or proceedings
relating to any Loss  regardless  of whether any  Indemnified  Person is a party
thereto, and any and all costs and expenses incurred by an Indemnified Person in
defending,  analyzing,  settling,  or resolving a Loss (the "COSTS OF DEFENSE").
The Indemnity shall not apply to the extent that a court or arbitral tribunal of
competent  jurisdiction  renders a final  determination that a Loss or a Cost of
Defense  resulted  from (i) the gross  negligence  or willful  misconduct  of an
Indemnified  Person,  or (ii) OPIC's  failure to perform any act  required of it
under this Commitment Letter.  The foregoing  indemnity is independent of and in
addition to any other rights of any  Indemnified  Person in connection  with any
Loss or Costs of Defense hereunder,  under any other agreement,  or at law. OPIC
and each other  Indemnified  Person shall have the right to control its, his, or
her defense; provided, however, that (a) outside (i.e.,  non-government) counsel
selected  by  OPIC  and  each  other  Indemnified  Person  shall  be  reasonably
acceptable to the Company,  and (b) each Indemnified

<PAGE>
Person  shall (i) notify the  Company in writing as soon as  practicable  of any
Loss or Cost of  Defense,  and (ii)  keep the  Company  reasonably  informed  of
material developments with respect thereto.

         The  Sponsor  shall  indemnify  and hold  harmless  (collectively,  the
"Sponsor Indemnity"), at all times, each Indemnified Person for any Loss and any
Costs of  Defense  that  arise  from or in  relation  to (a) any  impact  on the
environment  caused by or otherwise related to the Project if any final judgment
or arbitral award is entered  against,  or any settlement is entered into by the
Sponsor in connection with such Loss, and in connection with such Loss any final
judgment,  or arbitral award is entered  against,  or settlement is entered into
by, an  Indemnified  Person,  whether in the same or  different  proceedings  or
settlement agreements, (b) fraud by the Company, the Sponsor, or an affiliate of
either  of  them,  or  (c)  any  dispute  between  or  among  the  Sponsor,  its
shareholders, or the Company.

         If for any reason the Loan  Agreement is not executed and  delivered on
or before December 31, 2003, OPIC's  obligations  hereunder shall terminate.  In
addition,  by written  notice to the Company and the  Sponsor,  OPIC may, at any
time,  terminate  its  obligations  hereunder and pursue any rights and remedies
then  available  to OPIC  upon the  occurrence  of any of the  following:  (a) a
Sponsor or the Company fails or refuses to comply in a timely manner with any of
the terms, provisions, or conditions of this Commitment Letter; (b) OPIC, in its
sole  judgment,  determines  that a material  adverse  change has occurred or is
reasonably  likely to occur in (i)  business,  operations,  property,  condition
(financial  or  otherwise)  or  prospects of the  Company,  the Sponsor,  or the
Project, (ii) the ability of the Company or any Sponsor to carry out the Project
or to perform its respective  obligations  hereunder or under the Loan Agreement
or under any other  document  executed  in  connection  therewith,  or (iii) the
condition  or  value  of  any  security;  (c)  any  of  the  information,  data,
representations,  or  other  materials  submitted  to OPIC by a  Sponsor  or the
Company contains any inaccuracy, omission, or misrepresentation that is material
to OPIC's decision to provide the Credit Facility on the terms set forth herein;
(d) it becomes  unlawful for OPIC to make or maintain any  commitment  to extend
credit or  allocate  funds for the Project due to the  adoption  of,  change in,
change  in the  interpretation  of,  or  change  in the  effectiveness  of,  any
applicable  law after the date of this  Commitment  Letter;  or (e) OPIC, in its
sole  judgment,  is  not  satisfied  with  the  results  of  its  due  diligence
investigation.  Upon any such  termination  (except pursuant to clause (d)), the
Company or the Sponsor shall pay to OPIC on demand any fees, expenses,  or other
amounts then due hereunder.

         The representations and warranties, and the payment, reimbursement, and
indemnification  provisions  contained herein shall survive the execution of the
Loan Agreement and any modification, cancellation, termination, or expiration of
this Commitment Letter or the Credit Facility.

         All  payments due  hereunder  to OPIC shall be paid in U.S.  dollars by
wire transfer as follows:

                        U.S.  Treasury   Department
                        New  York,  NY
                        ABA  No. 0210-3000-4
                        TREAS  NYC/CTR/BNF=AC-71000001

<PAGE>
                        OBI=OPIC Loan Number 520-2003-468-DI.

         All payments shall be made without withholding or deduction of any tax,
assessment,  or other governmental charge (collectively,  "TAX") unless required
by law. If the Company or any Sponsor is required to deduct or withhold any Tax,
it shall be obligated to pay to OPIC such additional  amounts as are required to
result in OPIC's receipt of a net amount, from the Company or such Sponsor after
such deduction,  withholding, or payment of the Tax, that is equal to the amount
otherwise due to OPIC hereunder.

         The illegality or  unenforceability of any provision of this Commitment
Letter shall not in any way affect or impair the legality or  enforceability  of
the remaining  provisions hereof. If, and to the extent that, the obligations of
any party hereunder are unenforceable for any reason,  such party shall make the
maximum  contribution to the payment and satisfaction  thereof as is permissible
under applicable law.

         Neither the Company nor the Sponsor may assign this  Commitment  Letter
or any rights hereunder to any person or entity.  This Commitment  Letter is for
the sole benefit of the  Company,  the  Sponsor,  and OPIC,  and no other person
(other than the Indemnified  Persons) shall be a direct or indirect  beneficiary
of, be entitled  to rely on, or have any direct or  indirect  cause of action or
claim in connection with, this Commitment Letter.

         THIS COMMITMENT LETTER SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

         Any legal action or proceeding with respect to this  Commitment  Letter
or any document  related  hereto may be brought in the courts of the District of
Columbia,  the State of New  York,  or the  United  States  of  America  for the
Southern District of New York, and, by execution and delivery of this Commitment
Letter, each of the Sponsor and the Company accepts for itself and in respect of
its property,  generally and unconditionally,  the jurisdiction of the aforesaid
courts.  Each of the Sponsors and the Company  hereby accepts venue in each such
court.

         EACH OF THE  SPONSOR  AND THE  COMPANY  WAIVES ANY RIGHT TO HAVE A JURY
PARTICIPATE  IN RESOLVING  ANY DISPUTE  ARISING OUT OF, IN  CONNECTION  WITH, OR
RELATED  TO,  THIS  COMMITMENT  LETTER OR ANY  OTHER  INSTRUMENT,  DOCUMENT,  OR
AGREEMENT  EXECUTED OR  DELIVERED  IN  CONNECTION  HEREWITH OR THE  TRANSACTIONS
RELATED THERETO.

         This Commitment Letter may be executed in separate  counterparts,  each
of which shall be an original,  and all of which taken together shall constitute
one and the same agreement.

<PAGE>
         If this Commitment  Letter  correctly sets forth our agreement,  please
indicate your acceptance of the terms hereof by signing and returning to OPIC an
executed  original  counterpart of this Commitment Letter no later than July 15,
2003.  Upon timely  receipt of such signed  counterpart  (by facsimile  with the
original to follow by overnight  courier) by OPIC, this Commitment  Letter shall
constitute an effective and legally binding  agreement between us as of the date
hereof.

                         Very truly yours,

                         OVERSEAS PRIVATE INVESTMENT CORPORATION

                         By: /s/ JAMES POLAN
                            -----------------------------
                         Name: James Polan
                         Title:

ACKNOWLEDGED AND AGREED TO as of the date of this Commitment Letter:

RICEX COMPANY

By: /s/ DANIEL L. MCPEAK, SR.
   ----------------------------------
Name:  Daniel McPeak, Sr.
Title: CEO/COB

                                    ANNEX A*

*TERMS AND CONDITIONS GIVEN CONFIDENTIAL TREATMENT.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00055-of-00352.parquet"}]]