Document:

<PAGE>

Exhibit 10.67
[LOGO]
Baxter Healthcare Corporation
Baxter Capital Services
One Baxter Parkway
Deerfield, Illinois  60015-4633

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

                           Equipment Lease Agreement

This Agreement is between Baxter Healthcare Corporation, a Delaware Corporation,
on behalf of itself and its affiliates ("Baxter") and Nexell Therapeutics Inc.,
on behalf of itself and its affiliates (the "Customer").  Customer has, by
separate bill of sale, transferred and sold all the equipment listed on Schedule
A attached hereto to Baxter.  Subject to the provisions of this Agreement,
Baxter shall lease to Customer the equipment listed on Schedule A (the
"Equipment").  Baxter may assign this Agreement at any time to any of its
subsidiaries or affiliates without any notice to Customer.

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

1. DATES. The Effective Date of this Agreement, and the Commencement Date of
this Agreement is December 21, 2000.

2. PAYMENTS. Under this Agreement, beginning on the Commencement Date, and on
the same day of each month thereafter, Customer shall pay to Baxter, by
automated ACH credit or wire transfer, or other electronic means acceptable to
Baxter, the Total Monthly Rent listed on Schedule B attached hereto for the 36
months following Commencement Date.  At the end of the 36 month term, Customer
shall make a final rental payment listed on the bottom of Schedule B.

If any part of a payment is more than 5 days late, Customer agrees to pay a late
payment service fee of 1.5% per month or the highest amount allowed by law, if
it is less than 1.5% per month, of the amount of the payment which is late.

3. TAXES AND OTHER CHARGES. Customer agrees to pay all federal, state, and
local taxes, license and registration fees, freight and transportation charges
and all similar costs based on Customer's use of the Equipment, unless Customer
is exempt from paying any or all taxes that apply to this Equipment, in which
case Customer must provide Baxter with the proper exemption certificates prior
to the Effective Date of this Agreement.  Baxter will pay all property taxes
based on the Equipment to the appropriate taxing authority and Customer will
reimburse Baxter for all such payments promptly upon request.

4. OWNERSHIP OF EQUIPMENT. Baxter is the owner of the Equipment and has title
to the Equipment.  Customer will sign all UCC financing statements Baxter
desires to file such to give notice of Baxter's ownership.

5. POST TERMINATION. If Customer retains possession of any Equipment beyond the
end of the Term of this Agreement, the Term shall be extended on a month-to-
month basis for as long as Customer possesses the Equipment and Customer shall
pay Baxter at the rate equal to 100% of the Total Monthly Fee set forth above.

6. WARRANTIES: DISCLAIMER. BAXTER MAKES NO WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE.
UNLESS THE EQUIPMENT IS USED IN ACCORDANCE WITH THE DIRECTIONS ON THE LABELING
AND THE INSTRUCTIONS ACCOMPANYING THE EQUIPMENT, THE WARRANTIES IN ANY
DESCRIPTIONS OR DIRECTIONS ARE VOID AND OF NO EFFECT.  BAXTER SHALL HAVE NO
LIABILITY TO CUSTOMER FOR PROXIMATE, INCIDENTAL OR CONSEQUENTIAL DAMAGES IN
CONNECTION WITH CUSTOMER'S USE OF THE EQUIPMENT.

7. LOCATION AND USE OF EQUIPMENT. From the date of receipt of the Equipment,
Customer agrees to use the Equipment only for the purposes and according to the
instructions indicated on the labeling of or included with the Equipment.
Customer shall not modify the Equipment without Baxter's prior written consent,
and the Equipment shall remain personal property at all times, regardless of how
it is attached or installed.  Customer shall not move the Equipment outside any
premises owned or leased by Customer, its affiliates or its customers.

8. LOSS OF EQUIPMENT. From the date of receipt of the Equipment, in the event
of loss, theft, or destruction of a unit of Equipment, Customer will replace
such equipment at the Customer's sole cost.

9. INSURANCE. Customer agrees, at Customer's own cost and expense, to keep the
Equipment fully insured against destruction and loss from the date of receipt of
the Equipment until this Agreement is paid in full and to have Baxter named as
loss payee on all such policies.  Upon request, Customer will provide Baxter
with proof of insurance.
<PAGE>

10. ASSIGNMENT. Customer has no right to sell, transfer, assign, or sublease
(A) the Equipment or (B) this Agreement without Baxter's prior written consent.
Baxter may sell, assign, encumber, or transfer this Agreement to another party
without any consent by or from Customer.

11. DEFAULT.  If Customer fails to make any of the Total Monthly Rent or if
Customer fails to perform Customer's other obligations under this Agreement,
Customer will be in default.  If Customer defaults, Baxter may require that
Customer pay the remaining Total Monthly Rent balance of this Agreement and
return the Equipment to Baxter, in addition to other remedies available to
Baxter at law.

12. PURCHASE OR RETURN OF EQUIPMENT. At the end of the Term of this Agreement,
or upon request or demand by Baxter pursuant to the terms of this Agreement,
Customer shall return the Equipment to Baxter in the same condition as when it
was delivered to Customer, allowing for normal wear and tear, to such place or
on board such carrier, packed for shipping, freight prepaid, as Baxter may
specify.  Alternatively, Customer may, at its option, purchase all the Equipment
for the fair market value of such Equipment on such date.  Baxter and Customer
shall agree in writing as to all the terms of such purchase.

13. RESPONSIBILITY. Customer acknowledges that the selection, possession,
operation and use of the Equipment is solely the Customer's  responsibility.
Therefore, Customer shall be responsible for all liabilities, costs and expenses
(including lawsuits and claims for personal injury and property damage) to the
extent of and arising out of Customer's selection, possession, operation and use
of the Equipment.  Customer agrees to hold Baxter harmless against any and all
damages or injury associated with the selection, possession, operation and use
of the Equipment.

14. MISCELLANEOUS. This Agreement is the entire agreement between Baxter and
Customer relating to the Equipment and, in the event of conflict, supersedes all
prior agreements, all purchase orders, acknowledgment forms or other written
documents submitted by Customer, and all invoices of Baxter.  It shall not be
changed or amended except by written agreement executed by both parties and this
Agreement shall not be valid or binding unless approved and accepted by Baxter
at its home office.  This Agreement shall be governed by and interpreted in
accordance with Illinois law.

No changes in this Agreement, including any conflicting or additional terms
contained in any purchase order or other document submitted by Customer, shall
be valid unless approved in writing by Baxter at its home office.

IN WITNESS WHEREOF, the undersigned duly authorized representatives of the
parties have executed this Agreement on the date below.

<TABLE>
<S>                                                           <C>
Nexell Therapeutics Inc.                                      Baxter Healthcare Corporation

By:  /s/ William A. Albright                              By: /s/ Steven J. Meyer
     -----------------------                                  -------------------

Printed Name: William A. Albright                             Steven J. Meyer

Title:        President, Chief Operating Officer and CFO      Corporate Treasurer
</TABLE><PAGE>

EXHIBIT 10.68

                          NEXELL OF CALIFORNIA, INC.

                   1998 NON-INCENTIVE STOCK OPTION AGREEMENT

To:  DENNIS VAN EPPS                               Certificate No. _____________

     We are pleased to confirm that by the determination of the Stock Option
Plan Committee (the "Committee") under the plan described below, a non-incentive
stock option to purchase 30,000 shares of the Common Stock ("Common Stock") of
Nexell Therapeutics Inc. (the "Parent") at a price of $16.00 per share was
granted to you on February 18, 2000 under the Nexell of California, Inc. (the
"Company") 1998 Non-Incentive Stock Option Plan for Directors, Employees and
Consultants (the "Plan"). This option may be exercised only upon the terms and
conditions set forth below.

     1.   Purpose of Option.

     The purpose of the Plan under which this non-incentive stock option has
been granted is to further the growth and development of the Company and its
subsidiaries by encouraging employees, directors, consultants, agents,
independent contractors and other persons who contribute and are expected to
contribute materially to the Company's success to obtain a proprietary interest
in the Company through the ownership of stock, thereby providing such persons
with an added incentive to promote the best interests of the Company, and
affording the Company a means of attracting to its service persons of
outstanding ability.

     2.   Acceptance of Option Agreement.

     Your execution of this non-incentive stock option certificate will indicate
your acceptance of and your willingness to be bound by its terms; it imposes no
obligation upon you to purchase any of the shares subject to this option. Your
obligation to purchase shares can arise only upon your exercise of the option in
the manner set forth in paragraph 4 hereof.

     3.   When Option May Be Exercised.

     The option granted you hereunder shall be exercisable as follows:

          (i)   From and after February 18, 2001, options to purchase 7,500
                shares of the Parent shall become exercisable
          (ii)  From and after February 18, 2002, options to purchase 7,500
                shares shall become exercisable
          (iii) From and after February 18, 2003, options to purchase 7,500
                shares (i.e. additional shares of the Parent) shall become
                exercisable

<PAGE>

          (iv) From and after February 18, 2004, options to purchase 7,500
               shares (i.e. additional shares of the Parent) shall become
               exercisable

     This option may not be exercised for less than ten shares at any one time
(or the remaining shares then purchasable if less than ten) and expires at the
end of ten years from the date of grant whether or not it has been duly
exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated
as provided in paragraphs 5, 6 or 7 hereof.

          4.  How Option May Be Exercised.

     This option is exercisable by a written notice signed by you and delivered
to the Parent at its executive offices, signifying your election to exercise the
option. The notice must state the number of shares of Common Stock as to which
your option is being exercised, must contain a statement by you (in a form
acceptable to the Parent) that such shares are being acquired by you for
investment and not with a view to their distribution or resale (unless a
Registration Statement covering the shares purchased has been declared effective
by the Securities and Exchange Commission) and must be accompanied by cash or a
check to the order of the Parent for the full purchase price of the shares being
purchased, plus such amount, if any, as is required for withholding taxes.
Notwithstanding the foregoing, this option may also be exercised pursuant to the
following "cashless exercise" provision.

     In lieu of paying for the shares purchasable under this option by cash or
check, you may (i) deliver previously owned shares of Common Stock with a fair
market value equal to the full purchase price of the shares being purchased
under this option, or (ii) request that the Company withhold shares of Common
Stock issuable upon exercise of this option with a fair market value equal to
the full purchase price of the shares being purchased under this option (thereby
reducing the number of shares issuable upon exercise of this option).  For
purposes of this option, unless the Committee determines otherwise, the "fair
market value" of a share of Common Stock as of a certain date shall be the
closing sale price of the Common Stock on The Nasdaq Stock Market or, if the
Common Stock is not then traded on The Nasdaq Stock Market, such national
securities exchange on which the Common Stock is then traded, on the trading
date immediately preceding the date fair market value is being determined.  The
Committee may make such other determination of fair market value, based on other
factors, as it shall deem appropriate.

     If notice of the exercise of this option is given by a person or persons
other than you, the Parent may require, as a condition to the exercise of this
option, the submission to the Parent of appropriate proof of the right of such
person or persons to exercise this option.
<PAGE>

          Certificates for shares of the Common Stock so purchased will be
issued as soon as practicable. The Parent however, shall not be required to
issue or deliver a certificate for any shares until it has complied with all
requirements of the Securities Act of 1933, the Securities Exchange Act of 1934,
any stock exchange on which the Company's Common Stock may then be listed and
all applicable state laws in connection with the issuance or sale of such shares
or the listing of such shares on said exchange. Until the issuance of the
certificate for such shares, you or such other person as may be entitled to
exercise this option shall have none of the rights of a stockholder with respect
to shares subject to this option.

          The Parent shall have the right to require you, or such other person
as may be permitted to exercise this option, to remit to the Parent an amount
sufficient to satisfy federal, state and local withholding tax requirements
prior to the delivery of any certificate or certificates for shares of Common
Stock issuable upon exercise of this option.

          5.   Termination of Employment or Engagement.

If your employment with the Company (or a subsidiary thereof) is terminated for
any reason other than by death or disability, or if a you are not an employee of
the Company and your engagement by the Company (or a subsidiary) is terminated
for any reason, you may exercise, within three months from the date of such
termination, that portion of this option which was exercisable by you at the
date of such termination, provided, however, that such exercise occurs prior to
the Option Expiration Date.

          6.   Disability.

          If your employment with the Company (or a subsidiary thereof) is
terminated by reason of your disability, you may exercise, within twelve months
from the date of such termination, that portion of this option which was
exercisable by you at the date of such termination, provided, however, that such
exercise occurs prior to the Option Expiration Date.

          7.   Death.

          If you die while employed by the Company (or a subsidiary thereof) or
within six months after termination of your employment due to disability, that
portion of this option which was exercisable by you at the date of your death
may be exercised by your legatee or legatees under your Will, or by your
personal representatives or distributees, within twelve months from the date of
your death, but in no event after the Option Expiration Date.
<PAGE>

          8.   Non-Transferability of Option.

          This option shall not be transferable except by Will or the laws of
descent and distribution, and may be exercised during your lifetime only by you.

          9.   Adjustments upon Changes in Capitalization.

          If at any time after the Acquisition, the Parent shall, by stock
dividend, split-up, combination, reclassification or exchange, or through merger
or consolidation, or otherwise, change its shares of Common Stock into a
different number or kind or class of shares or other securities or property,
then the number of shares covered by this option and the price of each such
share shall be proportionately adjusted for any such change by the Committee,
whose determination shall be conclusive.

          10.  Acceleration of Exercisability Upon Change in Control.

          Upon the occurrence of a "change in control" of the Company (as
defined below), this option shall become immediately fully exercisable. For
purposes of this option, a "change in control" of the Company shall mean (i) the
acquisition at any time by a "person" or "group" (as such terms are used in
Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934 of beneficial
ownership (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities representing 50% or more of the combined voting power
in the election of directors of the then outstanding securities of the Company
or any successor of the Company; (ii) the termination of service of directors,
for any reason other than death, permanent and total disability or retirement
from the Board of Directors, during any period of two consecutive years or less,
of individuals who at the beginning of such period constituted a majority of the
Board of Directors of the Company, or any successor of the Company, unless the
election of or nomination for election of each new director during such period
was approved by a vote of at least two-thirds of the directors still in office
who were directors at the beginning of the period; (iii) approval by the
stockholders of the Company or any successor of the Company of any merger,
consolidation, or statutory share exchange as a result of which the common stock
of Newell shall be changed, converted or exchanged (other than a merger,
consolidation or share exchange with the Parent or a wholly-owned Subsidiary) or
liquidation of the Company or any successor of the Company or any sale or
disposition of 80% or more of the assets or earning power of the Company; except
to the Parent, or any successor of the Company (iv) approval by the stockholders
of the Company of any merger, consolidation, or statutory share exchange to
which the Company is a party as a result of which the persons who were
stockholders immediately prior to the effective date of the merger,
consolidation or share exchange shall have beneficial ownership of less than 50%
of the combined voting power in the election of directors of the surviving
corporation; provided, however, that no change in control shall be deemed to
have occurred if, prior to such time as a change in control would otherwise be
deemed to have occurred, the Company's or the Parent's Board of Directors, as
the case may be, deems otherwise.

<PAGE>

          11.  Subject to Terms of the Plan.

          This non-incentive stock option certificate shall be subject in all
respects to the terms and conditions of the Plan and in the event of any
question or controversy relating to the terms of the Plan, the decision of the
Committee shall be conclusive.

          12.  Tax Status.

          This option does not qualify as an "incentive stock option" under the
provisions of Section 422A of the Internal Revenue Code of 1986, as amended, and
the income tax implications of your receipt of a non-incentive stock option and
your exercise of such an option should be discussed with your tax counsel.

                                        Sincerely yours,

                                        NEXELL OF CALIFORNIA, INC.

                                        By: /s/ WILLIAM A. ALBRIGHT, JR.
                                           -----------------------------
                                        WILLIAM A. ALBRIGHT, JR.
                                        VICE PRESIDENT & CFO

Agreed to and accepted as of this

  2  day of   February   , 2000.
-----      --------------

/s/ DENNIS VAN EPPS
-----------------------
DENNIS VAN EPPS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00023-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00023-of-00352.parquet"}]]