Document:

<PAGE>
                                                                  EXHIBIT 10.46

                              EMPLOYMENT CONTRACT

         THIS CONTRACT OF EMPLOYMENT (hereinafter "Contract") is made in
Indianapolis, Indiana, dated and effective November 1, 2002, by and between
HOME MED CHANNEL, INC. an Indiana corporation, (hereinafter the "Company"),
Standard Management Corporation, an Indiana corporation, (herein after the
"Guarantor"), and Dr. Mason Goodman, (hereinafter "Executive").

                                    RECITALS

         A.       Executive is expected to make a major contribution to the
profitability, growth and financial strength of the Company.

         B.       The Company considers the services of Executive to be in the
best interest of the Company and its shareholders and desires to assure the
services of the Executive on behalf of the Company on an objective and
impartial basis and without distraction or conflict of interest in the event of
an attempt to obtain control of the Company.

         C.       Executive is willing to become employed by the Company under
the terms and conditions hereof.

         NOW, THEREFORE, in consideration of the mutual agreements contained
herein, the parties to this Contract hereby agree as follows:

                                   AGREEMENT

         1.       Employment. The Company hereby agrees to employ Executive as
President of the Company. Executive accepts such employment and agrees to be
subject to the general supervision, orders, advice and direction of the Chief
Executive Officer and the Board of Directors of the Company in a manner
consistent with the Articles of Incorporation and By-Laws of the Company.

         2.       Terms of Employment and Compensation. Executive's term of
employment (the "Employment Term") hereunder shall start on November 1, 2002
and continue until such employment terminates pursuant to Section 7 hereof.

         3.       Salary and Bonus and Options. Executive's salary for the
first year hereunder shall be $218,000 per year. Thereafter during the
Employment Term, Executive's salary shall be increased each year by an amount
equal to Executive's salary for the previous year, multiplied by the percent
change of the Consumer Price Index for all Urban Consumers (the "CPI")
(published by the Bureau of Labor Statistics, United States Department of
Labor) during the immediately preceding calendar year. For example, if the
percent change in the CPI from January 1, 2002 to December 31, 2002 were 5%,
Executive's salary for the second year hereunder would be $228,900. Executive's
salary shall be payable on the Company's regular salary payment dates. In
addition, within 90 days after the end of each fiscal year during the
Employment Term, Executive shall receive a bonus in an amount determined by the
Chairman of the Company and

                                       1
<PAGE>
approved by the Compensation Committee of Standard Management Corporation.
Employee shall be entitled to receive 60,000 incentive stock options of
Standard Management Corporation at the closing market price on the effective
date of this Contract. Vesting of such stock options shall be one-third upon
the grant date, one-third one year from the grant date, and the remaining
one-third two years from the grant date.

         The salary and bonus payments hereunder shall be subject to
withholding and any other applicable tax law.

         4.       Salary Guarantee. The salary payable to Executive hereunder
(the "Guaranteed Payments") shall continue to be paid to Executive hereunder as
set forth herein in the event of a termination of Executive's employment
hereunder except in the event that Executive terminates this Contract pursuant
to Section 7(e) hereof or in the event that the Company terminates Executive's
employment pursuant to Section 7(b) hereof.

                  (a)      In the event that the Company elects not to renew
         the Contract as provided in (i) Section 7(a) hereof, or (ii) in the
         event Company terminates the Contract pursuant to Section 7(f) hereof,
         the Executive shall be entitled to a severance payment equal to twelve
         (12) months salary payable in twelve (12) equal monthly installments
         based upon the Executive's salary at the termination of the Employment
         Term.

                  (b)      In the event that this Contract is terminated as a
         result of the death of Executive as provided in Section 7(c) hereof,
         the Executive shall be entitled to a payment equal to twelve (12)
         months salary payable in a lump sum within thirty (30) days of the
         date of death of the Executive based upon the Executive's salary at
         the date of his death. Any such payment shall be payable to the Estate
         of the Executive. The Company shall be entitled to an offset against
         such sums due in the amount of the sum payable to Executive's
         beneficiary as provided under Section 6 hereof.

                  (c)      In the event this Contract is terminated as a result
         of the disability of Executive as provided in Section 7(d) hereof, the
         Executive shall be entitled to a payment equal to twelve (12) months
         salary payable in twelve (12) equal monthly installments based upon
         the Executive's salary at the time of such termination based upon such
         disability. The Company shall be entitled to an offset against such
         sums due in the amount of any disability insurance payment received by
         the Executive from the Company.

                  (d)      In the event that any acquisition of control occurs
         to the Guarantor, and thereafter, the term of this Contract is
         terminated for any reason other than pursuant to Section 7(b) hereof,
         or as a result of the option of the Executive pursuant to Section 7(e)
         hereof, the Executive shall be entitled to a severance payment equal
         to remaining Employment Term under this Contact plus twelve months,
         and any such sum shall be payable in twelve (12) equal monthly
         installments based on the Executive's salary at the time of such
         termination, other than in the event of death of the Executive, which
         sum shall be payable in a lump sum within thirty (30) days of the
         Executive's date of death.

                                       2
<PAGE>
                  As used in this Contract, the "acquisition of control" means:
         (i) attaining ownership of 15% or more of the shares of voting stock
         of SMC by any person or group (other than a person or group including
         Executive or with whom or which Executive is affiliated), or (ii) the
         occurrence of a "change of control" required to be described under the
         proxy disclosure rules of the Securities and Exchange Commission.

         5.       Reimbursement for Expenses. The Company shall, during the
Employment Term, reimburse Executive for all reasonable travel, business
entertainment and other business expenses incurred by Executive in rendering
services under this Contract. Such reimbursement shall be subject to compliance
with the applicable policies and procedures established by the Company.

         6.       Fringe Benefits. During the Employment Term, Executive shall
be entitled to participate in the Company's corporate, medical, medical
reimbursement and disability insurance plans. To the extent that split dollar
insurance can be structured not to violate the Sarbanes-Oxley Act of 2002, the
Company shall also provide Executive with Key Man split dollar term life
insurance in the amount of $1,000,000, $500,000 of which shall be payable to
Executive's spouse and the balance of $500,000 shall be payable to the Company.
Executive shall be entitled to all other fringe benefits generally provided for
salaried employees of the Company upon attaining eligibility as provided under
such fringe benefit programs. Executive shall be entitled to four (4) weeks
paid vacation per year.

         7.       Termination. The Employment Term shall terminate on the first
to occur of the following events:

                  (a)      the second anniversary of the date on which the
         Employment Term became effective; provided, however, that after such
         second anniversary, the Employment Term shall be extended each year
         thereafter for an additional one year period unless either party gives
         the other written notice at least 90 days before such extension of its
         intention not to renew the Contract.

                  (b)      termination by the Company for cause, upon written
         notice (specifying the particulars) to Executive from the Company's
         Board of Directors, which cause shall be limited to:

                           (i)      the persistent failure of or refusal by
                  Executive to comply with the material orders, advice,
                  directions, policies, standards and regulations of the
                  Company and its President or Board of Directors, as
                  promulgated from time to time, or with the provisions of this
                  Contract;

                           (ii)     an act or acts of fraud or dishonesty by
                  Executive resulting in or tending to result in gain to or
                  personal enrichment of Executive at the Company's expense;

                                       3
<PAGE>
                           (iii)    any felony conviction of Executive or
                  material tort which is detrimental to the Company; or

                           (iv)     the persistent absence of Executive from
                  his employment without cause or explanation;

                  (c)      the death of Executive;

                  (d)      the 90th day after notice from the Company to
         Executive that Executive is considered to be permanently disabled due
         to his inability to perform his duties or fulfill his responsibilities
         hereunder; which inability existed for a period of 90 days or more
         before such notice;

                  (e)      termination by the Executive, at his option, after
         30 days prior written notice to the Company , or

                  (f)      termination by the Company after the second
         anniversary of the Employment Term, at its option after 30 days prior
         written notice to the Executive.

Upon termination of Executive's employment as provided above, Executive (or his
estate) shall be entitled to receive (i) any unpaid salary payments with
respect to periods prior to the date of such termination, (ii) any declared but
unpaid bonus granted to Executive prior to the date of termination, and (iii)
any termination, disability or death benefit to which he is entitled under any
employee benefit plan of the Company which is in effect at the time of
termination of Executive's employment. In addition, Executive shall be entitled
to receive the Guaranteed Payments provided for in Section 4 above as provided
therein. Such obligation to make such payments by Company to Executive shall
survive the termination of Executive's employment hereunder.

         8.       Agreement Not To Compete. Subject to the provisions set forth
herein, Executive agrees that if his employment is terminated by the Company
for any reason he shall not, for a period of one year from the date his
employment hereunder terminates, (x) directly or indirectly sell or attempt to
sell, within Indiana, on behalf of himself or any other person, corporation or
entity, any type of product marketed by the Company or any of its affiliates or
subsidiaries at the time his employment is terminated, (y) directly or
indirectly sell or attempt to sell any type of product marketed by the Company
or any of its affiliates or subsidiaries at the time his employment is
terminated to any person, corporation or other entity that is a customer of the
Company or any of its affiliates or subsidiaries at the time his employment is
terminated, and (z) within Indiana, directly or indirectly, own, manage,
operate, control, be employed by, participate in, or be connected in any manner
with the ownership, management, operation, or control of any business similar
to the type of business conducted by the Company or any of its affiliates or
subsidiaries at the time of termination of Executive's employment hereunder;
provided, however, that Executive may be a shareholder of less than 5% of the
outstanding shares of voting stock of any company listed on a recognized stock
exchange or traded in the NASD over-the-counter market.

                                       4
<PAGE>
Executive has disclosed to the Company, and the Company acknowledges receipt of
disclosure that Executive has a controlling interest in Health Care Resources,
Inc. ("HCR"), an Indiana corporation, a limited private medical practice, a ten
percent (10%) interest in PCA Corrections, a pharmacy located in Louisville,
KY, and a seven percent (7%) interest in Promed, a real estate limited
partnership located in Carmel, Indiana.

The Company and Executive agree that the above mentioned activities may require
Executive's attention during business hours, and the Company consents to
Executive transacting such activities during the normal work week of the
Company, with reasonable notice to the Company, in an amount not in excess of
eight (8) hours per business week. In addition, Executive shall be required to
offer any new contractual opportunities presented to HCR to the Company on a
right of first refusal basis to avoid any potential conflict of interest. The
Company shall be deemed to have passed on any such opportunity if the Company
fails to accept such opportunity in writing within ten (10) business days after
the same is presented in writing by Executive to Company.

In the event this Employment Contract is terminated prior to the second
anniversary of its effective date, other than for cause pursuant to Section
7(b), to the extent the Deferred Note referenced in the Limited Liability
Company Purchase Agreement has not been paid in full, such Deferred Note shall
become immediately due and payable. If the Company should fail to make any
payments on the Deferred Notes or severance payments pursuant to Section 4, if
due, within ten (10) days of the due date, then Executive's obligations
pursuant to the agreement not to compete shall lapse and shall be of no further
force and effect.

         9.       Technical Information. Executive covenants and agrees that
during the Employment Term and for a period of one year after termination of
the Employment Term (regardless of whether Executive is terminated or defaults
under any other provision of this Contract) he will assign to the Company or
its nominees all of his right, title and interest in and to all "Technical
Information" (as hereinafter defined) which he makes, develops or conceives,
either alone or in conjunction with others; he will disclose promptly to the
Company all such Technical Information; and he will cooperate with the Company
in its efforts to protect its rights of ownership in such Technical
Information. For purposes of this Contract, "Technical Information" shall mean
and include, but not be limited to, all software, processes, devices,
trademarks, trade names, copyrights, marketing plans, improvements, and ideas
relating to the business of the Company, and all goodwill associated with any
such item.

         10.      Covenant Against Disclosure of Technical and Confidential
Information. Executive agrees that while he is employed by the Company or any
of its affiliates or subsidiaries and thereafter he shall not, directly or
indirectly, disclose or use to the detriment of the Company or for the benefit
of any other person, corporation or other entity, any confidential information
or trade secret (including, but not limited to, the identity and needs of any
customer of the Company or any of its affiliates or subsidiaries, the method
and techniques of any of the business of the Company or any of its affiliates
or subsidiaries, the marketing, sales, costs and pricing plans and objectives
of the Company or any of its affiliates or subsidiaries, the problems,
developments, research records, and Technical Information) of the Company, or
any of the affiliates or subsidiaries of the Company. Furthermore, Executive
shall deliver promptly to the Company upon termination of his employment, or at
any time the Company may so request, all

                                       5
<PAGE>
memoranda, notes, records, reports, manuals, software, models, designs, and
other documents and computer records (and all copies thereof) relating to the
business of the Company or any of its affiliates or subsidiaries, and all
property associated therewith, which he may then possess or have under his
control. This Contract supplements and does not supersede Executive's
obligations under statute or the common law to protect the Company's or any of
its affiliates or subsidiaries trade secrets and confidential information.

         11.      Remedy. Executive acknowledges that the restrictions
contained in Sections 8 through 10 of this Contract are reasonable and that the
legal remedies for breach of the covenants which are contained in Sections 8
through 10 of this Contract may be inadequate and, therefore, agrees that, in
the event of any actual or threatened breach of any such covenant, in addition
to any other right or remedy which the Company may have, the Company may: (a)
seek specific enforcement of any such covenant through injunction or other
equitable relief, or (b) recover from Executive an amount equal to (i) all
costs and expenses (including attorneys' fees) incurred by the Company in
enforcement of the covenant, plus (ii) all other damages to which the Company
may be legally entitled.

         12.      Guarantee of Standard Management Corporation. The Guarantor
unconditionally guarantees the financial obligations of the Company payable to
Executive as provided in Sections 3, 4, 5 and 6 hereof.

         13.      Entire Agreement. This Contract contains the entire agreement
of the parties relating to the employment of Executive by the Company,
superseding any and all prior such agreements, and cannot be amended, modified,
or supplemented in any respect except by subsequent written agreement entered
into by the parties.

         14.      Benefit. Executive acknowledges that the services to be
rendered to him are unique and personal; accordingly, Executive may not assign
any of his rights or delegate any of his duties or obligations under this
Contract. The rights and obligations of the Company under this Contract shall
inure to the benefit of, and be binding upon, the legal representatives,
successors and assigns of the Company.

         15.      No Waiver. No failure on the part of either party at any time
to require the performance by the other party of any term of this Contract
shall be taken or held to be a waiver of such term or in any way affect such
party's right to enforce such term, and no waiver on the part of either party
of any term in this Contract shall be taken or held to be a waiver of any other
term hereof or the breach thereof.

         16.      Severability. The provisions of Sections 8 through 11 hereof
are severable, and the invalidity or unenforceability of any particular
provision of Sections 8 through 11 shall not affect or limit the enforceability
of the other provisions. If any provision in Sections 8 through 11 hereof is
held unenforceable for any reason, including the time period, geographic area,
or scope of activity covered, then such provision shall be enforced to whatever
extent is reasonable and enforceable.

                                       6
<PAGE>
         17. Governing Law. This Contract shall be governed and construed in
accordance with the law of the State of Indiana (other than the provisions
relating to choice of law). The Contract may be brought in any state or federal
court of record in Indianapolis, Indiana and the parties hereto waive any right
to question the jurisdiction of such court over their person or the property of
such venue.

         18.      Captions. The captions in this Contract are for convenience
and identification purposes only, and not an integral part of this Contract,
and are not to be considered in the interpretation of any part hereof.

         19.      Notices. All notices and other communications hereunder shall
be in writing and shall be deemed to have been duly given if in writing and
personally delivered to the party to whom notice should be given or if sent by
registered or certified mail, postage prepaid, addressed to the addresses set
forth below, or to such other addresses as shall be furnished in writing by
either party to the other:

         Mason Goodman
         3266 N. Meridian St., Suite 501
         Indianapolis, IN  46208

To the Company:

         Home Med Channel, Inc.
         6210 Technology Center Drive
         Indianapolis, IN   46278
         Attn: Ronald D. Hunter, Chairman and Chief Executive Officer

To the Guarantor:

         Standard Management Corporation
         10689 N. Pennsylvania
         Indianapolis, IN  46280
         Attn: Ronald D. Hunter, Chairman and Chief Executive Officer

                            [SIGNATURE PAGE FOLLOWS]

                                       7
<PAGE>
         IN WITNESS WHEREOF, the Company and the Guarantor have caused this
Contract to be executed on its behalf by its duly authorized officers and
Executive has hereunto set his hand as of the 1st day of November, 2002.

                                                The "Company"

                                    HOME MED CHANNEL, INC.

                                    By: /s/ Ronald D. Hunter
                                       ----------------------------------------
                                       Ronald D. Hunter
                                       Chairman and Chief Executive Officer

Attest:

/s/ Stephen M. Coons
-------------------------------
Stephen M. Coons
Secretary

                                                 The "Guarantor"

                                    STANDARD MANAGEMENT CORPORATION

                                    By: /s/ Ronald D. Hunter
                                       ----------------------------------------
                                       Ronald D. Hunter
                                       Chairman and Chief Executive Officer

Attest:

/s/ Stephen M. Coons
-------------------------------
Stephen M. Coons
Secretary

                                    EXECUTIVE

                                    /s/ Mason Goodman
                                    -------------------------------------------
                                    Mason Goodman

                                       8<PAGE>

                                                                 EXHIBIT 10.14.2

                                 AMENDMENT NO. 1

         This Amendment No. 1 dated as of January 30, 2003 ("Amendment") is
among Schweitzer-Mauduit International, Inc., a Delaware corporation
("Company"), Schweitzer-Mauduit France S.A.R.L., a French corporation ("SARL",
together with the Company, the "Borrowers"), the banks party hereto ("Banks")
and Societe Generale, as agent for the Banks ("Agent").

                                  INTRODUCTION

         A. The Borrowers, the Banks and the Agent are party to the Credit
Agreement dated as of January 31, 2002, (the "Credit Agreement").

         B. The Borrowers have requested that the Banks agree to (1) extend the
Maturity Date of the Tranche A Commitments under the Credit Agreement from
January 30, 2003 to January 29, 2004, (2) reduce the aggregate amount of Tranche
A Commitments and (3) make certain other amendments to the Credit Agreement.

         THEREFORE, the Borrowers, the Agent and the Banks hereby agree as
follows:

         Section 1. Definitions; References. Unless otherwise defined in this
Amendment, terms used in this Amendment that are defined in the Credit Agreement
shall have the meanings assigned to such terms in the Credit Agreement.

         Section 2. Amendments. Upon the satisfaction of each of the conditions
precedent set forth in Section 5 below, Section 1.01 of the Credit Agreement is
hereby amended as follows:

         (a) by deleting the date "January 30, 2003" in the definition of
"Maturity Date" and replacing it with the date "January 29, 2004"; and

         (b) by deleting the "and" at the end of subsection (c) thereof,
replacing the period at the end of subsection (d) thereof with "; and" and
adding the following new subsection (e) in the definition of "Liquid
Investments":

(e) with respect to investments of amounts arising from or used in the conduct
of such Person's business in Brazil, bank debt securities issued by Banco ABN
AMRO Bank Brasil S.A. Banco Multiplo, provided that (i) such bank receives a
long-term foreign currency senior debt rating from either Standard & Poor's
Ratings Group or Moody's Investors Service and such rating is equal to or higher
than B- (or the then equivalent) (provided that (A) if the ratings established
or deemed to have been established by Standard & Poor's Ratings Group and
Moody's Investors Service for such bank shall differ, the lower of the two
ratings shall apply and (B) if neither Standard & Poor's Ratings Group nor
Moody's Investors Service shall have in effect a long-term foreign currency
senior debt rating for such bank, then Moody's Investor Services's long-term
foreign currency deposit rating, if any, shall be substituted therefore); (ii)
the aggregate of such investments may not exceed $10,000,000 (or the Dollar
Equivalent thereof) and (iii) such investments may be terminated without premium
or penalty within three Business Days.

         Section 3. Reduction of the Tranche A commitments. As of the effective
date of this Amendment, the aggregate Tranche A1 Commitments shall be reduced to
(euro)12,000,000 and the aggregate Tranche A2 Commitments shall be reduced to
$10,000,000. Upon the effectiveness of this Agreement pursuant to Section 5
below, each Lender's Tranche A1 Commitment and Tranche A2 Commitment shall be
the Tranche A1 Commitment and Tranche A2 Commitment set forth on the attached
Schedule 1. With respect to such reduction of the Tranche A Commitments, the
Agent and the Banks waive any

<PAGE>

requirement that the Borrowers proved at least fifteen Business Days irrevocable
written notice to the Agent, to terminate in whole or reduce ratably in part the
unused portion of the Commitments pursuant to Section 2.04. This waiver is
limited to the extent described herein and shall not be construed to be a
consent to or a waiver of any other actions required by the Credit Agreement or
any other Credit Document. The reduction of the Tranche A Commitments pursuant
to this Amendment shall be permanent, with no obligation of the Banks to
reinstate such Commitments and the commitment fees provided for in Section 2.03
of the Credit Agreement shall thereafter be computed on the basis of the Tranche
A Commitments, as so reduced.

         Section 4. Representations and Warranties. The Borrowers and warrant to
the Agent and the Banks as of the date hereof:

         (a) Any representations and warranties set forth in the Credit
Agreement and in the other Credit Documents (other than those made as of a
specific date) are true and correct in all material respects;

         (b) (i) The execution, delivery and performance of this Amendment are
within the corporate power and authority of the Borrowers and have or will have
been duly authorized by appropriate proceedings and (ii) this Amendment
constitutes a legal, valid, and binding obligation of the Borrowers enforceable
in accordance with its terms, except as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, or similar laws affecting the rights of
creditors generally and general principles of equity; and

         (c) No Default or Event of Default has occurred and is continuing.

         Section 5. Effectiveness. This Amendment shall become effective and the
Credit Agreement shall be amended as provided in Section 2 of this Amendment
when the Agent shall have received this Amendment duly and validly executed by
the Borrowers, the Agent and the Banks.

         Section 6. Reaffirmation of Guaranty. The Company hereby reaffirms its
obligations under Article VIII of the Credit Agreement and agrees to remain
liable for the repayment of the Guaranteed Obligations (as defined therein), as
such Guaranteed Obligations have been amended hereby.

         Section 7. Choice of Law. This Amendment shall be governed by and
interpreted in accordance with the laws of the State of New York, without giving
effect to the conflict of laws principles thereof.

         Section 8. Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original.

<PAGE>

         EXECUTED as of the date first set forth above.

                                          BORROWERS:

                                          SCHWEITZER-MAUDUIT INTERNATIONAL, INC.

                                          By: /s/ WAYNE H. DEITRICH
                                             ----------------------------------
                                                  Wayne H. Deitrich
                                                  Chairman and Chief Executive
                                                  Officer

                                          SCHWEITZER-MAUDUIT FRANCE S.A.R.L.

                                          By: /s/ JEAN-PIERRE LE HETET
                                             ----------------------------------
                                                  Jean-Pierre Le Hetet
                                                  Gerant (Manager)

                                          AGENT:

                                          SOCIETE GENERALE

                                          By: /s/ ERIC WORMSER
                                             ----------------------------------
                                                  Eric Wormser
                                                  Managing Director

                                          BANKS:

                                          SOCIETE GENERALE

                                          By: /s/ ERIC WORMSER
                                             ----------------------------------
                                                  Eric Wormser
                                                  Managing Director

                                          BANQUE DE CHINE PARIS

                                          By: /s/ YAO HUEMING
                                             ----------------------------------
                                                  Yao Huming
                                                  Corporate Banking Department
                                                  Director

                                         NATEXIS BANQUE POPULAIRES

                                          By: /s/ YVES DARGENT
                                             ----------------------------------
                                                  Yves Dargent
                                                  Director

                                          By: /s/ HERVE BACHELOT
                                             ----------------------------------
                                                  Herve Bachelot
                                                  Sales

<PAGE>

                                          BNP - PARIBAS

                                          By: /s/ BERNARD ROLLAND
                                             ----------------------------------
                                                  Bernard Rolland
                                                  Responsible Clientile
                                                  Entreprise

                                          By: /s/ PHILIPPE CHELLE
                                             ----------------------------------
                                                  Philippe Chelle
                                                  Responsible Role Risque

                                          CAISSE REGIONALE DE CREDIT
                                          AGRICOLE MUTUEL DU FINISTERE

                                          By: /s/ BERTRAND LE BORTE
                                             ----------------------------------
                                                  Bertrand Le Borte
                                                  Director Agence Grands
                                                  Entreprises

                                          SUNTRUST BANK

                                          By: /s/ DANIEL S. KOMITOR
                                             ----------------------------------
                                                  Daniel S. Komitor
                                                  Director

                                          CREDIT LYONNAIS NEW YORK BRANCH

                                          By: /s/ SCOTT R. CHAPPELKA
                                             ----------------------------------
                                                  Scott R. Chappelka
                                                  Vice President

                                          CREDIT LYONNAIS

                                          By: /s/ LE PIRUN PIERRE
                                             ----------------------------------
                                                  Le Pirun Pierre
                                                  Enforsable Credit Bretagne

                                          C.C.F.

                                          By: /s/ DE VASSELOT
                                             ----------------------------------
                                                  De Vasselot
                                                  Branch Manager

                                          By: /s/ BRUNAUD
                                             ----------------------------------
                                                  Brunaud
                                                  Assistant Branch Manager

<PAGE>

                                   SCHEDULE 1

<TABLE>
<CAPTION>
Lender                                           Tranche A1 Commitment                  Tranche A2 Commitment
------                                           ---------------------                  ---------------------
<S>                                              <C>                                    <C>
Societe Generale                                  (euro)  2,791,135.88                      $  2,325,946.57
Banque De Chine Paris                             (euro)    695,398.42                      $    579,498.68
Natexis Banques Populaires                        (euro)  2,604,000.00                      $  2,170,000.00
BNP Paribas                                       (euro)    624,000.00                      $    520,000.00
Caisse Regionale De Credit Agricole
  Mutuel Du Finistere                             (euro)    869,248.02                      $    724,373.35
SunTrust Bank                                     (euro)  2,607,744.07                      $  2,173,120.05
Credit Lyonnais                                   (euro)  1,200,000.00                      $  1,000,000.00
Credit Commercial De France                       (euro)    608,473.61                      $    507,061.35
                                                  --------------------                      ---------------
TOTALS                                            (euro)12,000,000.00                       $ 10,000,000.00
</TABLE>

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