Document:

<PAGE>

                                                                    Exhibit 4.13

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

                             BANK ONE ISSUANCE TRUST
                                    as Issuer

                         CLASS A(2002-1) TERMS DOCUMENT
                            dated as of May 22, 2002

                                       to

                         ONESERIES INDENTURE SUPPLEMENT
                             dated as of May 1, 2002

                                       to

                                    INDENTURE

                             dated as of May 1, 2002

                WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION
                    as Indenture Trustee and Collateral Agent

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

<PAGE>

                  THIS CLASS A(2002-1) TERMS DOCUMENT (this "Terms Document"),
                                                             --------------
by and between BANK ONE ISSUANCE TRUST, a statutory business trust created under
the laws of the State of Delaware (the "Issuer"), having its principal office at
                                        ------
c/o Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware
19890-1600, and WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, a national
banking association, as indenture trustee (the "Indenture Trustee") and
                                                -----------------
collateral agent (the "Collateral Agent"), is made and entered into as of May
22, 2002.

                  Pursuant to this Terms Document, the Issuer and the Indenture
Trustee shall create a new Tranche of ONEseries Class A Notes and shall specify
the principal terms thereof.

                                    ARTICLE I

             Definitions and Other Provisions of General Application

     Section 1.1 Definitions. For all purposes of this Terms Document, except as
                 -----------
otherwise expressly provided or unless the context otherwise requires:

                  (1) the terms defined in this Article have the meanings
                  assigned to them in this Article, and include the plural as
                  well as the singular;

                  (2) all other terms used herein which are defined in the
                  Indenture Supplement, the Indenture or the Asset Pool
                  Supplement, either directly or by reference therein, have the
                  meanings assigned to them therein;

                  (3) all accounting terms not otherwise defined herein have the
                  meanings assigned to them in accordance with generally
                  accepted accounting principles and, except as otherwise herein
                  expressly provided, the term "generally accepted accounting
                  principles" with respect to any computation required or
                  permitted hereunder means such accounting principles as are
                  generally accepted in the United States of America at the date
                  of such computation;

                  (4) all references in this Terms Document to designated
                  "Articles," "Sections" and other subdivisions are to the
                  designated Articles, Sections and other subdivisions of this
                  Terms Document as originally executed;

                  (5) the words "herein," "hereof" and "hereunder" and other
                  words of similar import refer to this Terms Document as a
                  whole and not to any particular Article, Section or other
                  subdivision;

<PAGE>

                  (6) in the event that any term or provision contained herein
                  shall conflict with or be inconsistent with any term or
                  provision contained in the Indenture Supplement, the Indenture
                  or the Asset Pool Supplement, the terms and provisions of this
                  Terms Document shall be controlling;

                  (7) each capitalized term defined herein shall relate only to
                  the Class A(2002-1) Notes and no other Tranche of ONEseries
                  Notes issued by the Issuer; and

                  (8) "including" and words of similar import will be deemed to
                  be followed by "without limitation."

                  "Asset Pool Supplement" means the Asset Pool One Supplement to
                   ---------------------
the Indenture, dated as of May 1, 2002 among the Issuer, the Indenture Trustee
and the Collateral Agent, as amended, supplemented, restated or otherwise
modified from time to time.

                  "Base Rate" has the meaning specified in the Indenture
                   ---------
Supplement.

                  "BDL" means Banque de Luxembourg.
                   ---

                  "Calculation Agent" is defined in Section 2.4(a).
                   -----------------

                  "Class A(2002-1) Adverse Event" means the occurrence of any of
                   -----------------------------
the following: (a) an Early Amortization Event with respect to the Class
A(2002-1) Notes, (b) an Event of Default and acceleration of the Class A(2002-1)
Notes, (c) the Class A Usage of the Class B Required Subordinated Amount for the
Class A(2002-1) Notes becomes greater than zero or (d) the Class A Usage of the
Class C Required Subordinated Amount for the Class A(2002-1) Notes becomes
greater than zero.

                  "Class A(2002-1) Note" means any Note, substantially in the
                   --------------------
form set forth in Exhibit A-1 to the Indenture Supplement, designated therein as
a Class A(2002-1) Note and duly executed and authenticated in accordance with
the Indenture.

                  "Class A(2002-1) Noteholder" means a Person in whose name a
                   --------------------------
Class A(2002-1) Note is registered in the Note Register.

                  "Class A(2002-1) Termination Date" means the earliest to occur
                   --------------------------------
of (a) the Principal Payment Date on which the Outstanding Dollar Principal
Amount of the Class A(2002-1) Notes is paid in full, (b) the Legal Maturity Date
and (c) the date on which the Indenture is discharged and satisfied pursuant to
Article V thereof.

                                       2

<PAGE>

                  "Class A Required Subordinated Amount of Class B Notes" is
                   -----------------------------------------------------
defined in Section 2.2(a).

                  "Class A Required Subordinated Amount of Class C Notes" is
                   -----------------------------------------------------
defined in Section 2.2(b).

                  "Controlled Accumulation Amount" means $83,333,334; provided,
                   ------------------------------                     --------
however, if the Accumulation Period Length is determined to be less than twelve
-------
months pursuant to Section 3.12(b)(ii) of the Indenture Supplement, the
Controlled Accumulation Amount for any Note Transfer Date with respect to the
Class A(2002-1) Notes will be the amount specified in the definition of
"Controlled Accumulation Amount" in the Indenture Supplement.

                  "Excess Spread Percentage" has the meaning specified in the
                   ------------------------
Indenture Supplement.

                  "Indenture" means the Indenture, dated as of May 1, 2002,
                   ---------
between the Issuer and the Indenture Trustee, as the same may be amended,
supplemented, restated or otherwise modified from time to time.

                  "Indenture Supplement" means the ONEseries Indenture
                   --------------------
Supplement, dated as of May 1, 2002, between the Issuer, the Indenture Trustee
and the Collateral Agent, as the same may be amended, supplemented, restated or
otherwise modified from time to time.

                  "Initial Dollar Principal Amount" means $1,000,000,000.
                   -------------------------------

                  "Interest Payment Date" means June 17, 2002 and the 15/th/ day
                   ---------------------
of each month thereafter, or if such 15/th/ day is not a Business Day, the next
succeeding Business Day.

                  "Interest Period" means, with respect to any Interest Payment
                   ---------------
Date, the period from and including the previous Interest Payment Date (or in
the case of the initial Interest Payment Date, from and including the Issuance
Date) to but excluding such Interest Payment Date.

                  "Issuance Date" means May 22, 2002.
                   -------------

                  "Legal Maturity Date" means January 15, 2010.
                   -------------------

                  "LIBOR" means, for any Interest Period, the London interbank
                   -----
offered rate for one-month United States dollar deposits determined by the
Trustee on the LIBOR Determination Date for each Interest Period in accordance
with the provisions of Section 2.4.

                                       3

<PAGE>

                  "LIBOR Determination Date" means (1) May 20, 2002 for the
                   ------------------------
period from and including the Issuance Date through but excluding June 17, 2002
and (2) for each interest period thereafter, the second London Business Day
prior to the commencement of the second and each subsequent Interest Period.

                  "London Business Day" means any Business Day on which dealings
                   -------------------
in deposits in United States Dollars are transacted in the London interbank
market.

                  "Note Interest Rate" means a rate per annum equal to 0.11% in
                   ------------------
excess of LIBOR as determined by the Calculation Agent on the related LIBOR
Determination Date with respect to each Interest Period.

                  "Paying Agent" means Wells Fargo Bank Minnesota, National
                   ------------
Association.

                  "Portfolio Yield" has the meaning specified in the Indenture
                   ---------------
Supplement.

                  "Predecessor Note" means, with respect to any particular Note,
                   ----------------
every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purpose of this definition, any
Note authenticated and delivered under Section 3.06 of the Indenture in lieu of
a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same
debt as the mutilated, lost, destroyed or stolen Note.

                  "Record Date" means, for any Note Transfer Date, the last
                   -----------
Business Day of the preceding Monthly Period.

                  "Reference Banks" means four major banks in the London
                   ---------------
interbank market selected by the Beneficiary.

                  "Scheduled Principal Payment Date" means May 15, 2007.
                   --------------------------------

                  "Stated Principal Amount" means $1,000,000,000.
                   -----------------------

                  "Telerate Page 3750" means the display page currently so
                   ------------------
designated on the Bridge Telerate Market Report (or such other page as may
replace that page on that service for the purpose of displaying comparable rates
or prices).

                  "Tranche" has the meaning specified in the Indenture.
                   -------

     Section 1.2 Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN
                 -------------
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT
REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND
REMEDIES OF THE PAR-

                                       4

<PAGE>

TIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     Section 1.3 Counterparts. This Terms Document may be executed in any number
                 ------------
of counterparts, each of which so executed will be deemed to be an original, but
all such counterparts will together constitute but one and the same instrument.

     Section 1.4 Ratification of Indenture and Indenture Supplement. As
                 --------------------------------------------------
supplemented by this Terms Document, each of the Indenture, the Asset Pool
Supplement and the Indenture Supplement is in all respects ratified and
confirmed and the Indenture as so supplemented by the Asset Pool Supplement and
the Indenture Supplement as so supplemented by this Terms Document shall be
read, taken and construed as one and the same instrument.

                               [END OF ARTICLE I]

                                       5

<PAGE>

                                   ARTICLE II

                            The Class A(2002-1) Notes

     Section 2.1 Creation and Designation. There is hereby created a Tranche of
                 ------------------------
ONEseries Class A Notes to be issued pursuant to the Indenture and the Indenture
Supplement to be known as the "ONEseries Class A(2002-1) Notes."

     Section 2.2 Specification of Required Subordinated Amount and Other Terms.
                 -------------------------------------------------------------

         (a)     For the Class A(2002-1) Notes for any date of determination,
the Class A Required Subordinated Amount of Class B Notes will be an amount
equal to 8.47953% of (i) prior to the occurrence of a Class A(2002-1) Adverse
Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2002-1)
Notes on such date of determination or (ii) on and after the date on which a
Class A(2002-1) Adverse Event shall have occurred, the greater of (1) the
Adjusted Outstanding Dollar Principal Amount of the Class A(2002-1) Notes on
such date of determination and (2) the Adjusted Outstanding Dollar Principal
Amount of the Class A(2002-1) Notes as of the close of business on the day
immediately preceding the date on which such Class A(2002-1) Adverse Event shall
have occurred.

         (b)     For the Class A(2002-1) Notes for any date of determination,
the Class A Required Subordinated Amount of Class C Notes will be an amount
equal to 8.47953% of (i) prior to the occurrence of a Class A(2002-1) Adverse
Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2002-1)
Notes on such date or (ii) on and after the date on which a Class A(2002-1)
Adverse Event shall have occurred, the greater of (1) the Adjusted Outstanding
Dollar Principal Amount of the Class A(2002-1) Notes on such date of
determination and (2) Adjusted Outstanding Dollar Principal Amount of the Class
A(2002-1) Notes as of the close of business on the day immediately preceding the
date on which such Class A(2002-1) Adverse Event shall have occurred.

         (c)     The Issuer may change the percentages or the formulas set forth
in either clause (a) or (b) above without the consent of any Noteholder so long
as the Issuer has (i) received written confirmation from each Note Rating Agency
that has rated any Outstanding Class A(2002-1) Notes of the ONEseries that the
change in either of such percentages or formulas, as applicable, will not result
in a Ratings Effect with respect to any Outstanding Class A(2002-1) Notes and
(ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master
Trust Tax Opinion and an Issuer Tax Opinion.

     Section 2.3 Interest Payment.
                 ----------------

         (a)     For each Interest Payment Date, the amount of interest due with
respect to the Class A(2002-1) Notes shall be an amount equal to the product of
(i) (A) a fraction, the numerator of which is the actual number of days in the
related Interest Period and the denomina-

                                       6

<PAGE>

tor of which is 360, times (B) the Note Interest Rate in effect with respect to
the related Interest Period, times (ii) the Outstanding Dollar Principal Amount
of the Class A(2002-1) Notes determined as of the close of business on the
Interest Payment Date preceding the related Note Transfer Date for the Class
A(2002-1) Notes; provided, however, that for the first Interest Payment Date,
the amount of interest due with respect to the Class A(2002-1) Notes shall be an
amount equal to the product of (x) the Outstanding Dollar Principal Amount of
the Class A(2002-1) Notes on the Issuance Date, (y) 26 divided by 360 and (z)
the Note Interest Rate in effect with respect to the Class A(2002-1) Notes
determined on May 20, 2002. Interest on the Class A(2002-1) Notes will be
calculated on the basis of the actual number of days elapsed and a 360-day year.

         (b)     Pursuant to Section 3.03 of the Indenture Supplement, on each
Note Transfer Date with respect to the Class A(2002-1) Notes, the Indenture
Trustee shall deposit into the Class A(2002-1) Interest Funding Sub-Account the
portion of ONEseries Available Finance Charge Collections allocable to the Class
A(2002-1) Notes.

     Section 2.4 Calculation Agent; Determination of LIBOR.
                 -----------------------------------------

         (a)     The Issuer hereby agrees that for so long as any Class
A(2002-1) Notes are Outstanding, there shall at all times be an agent appointed
to calculate LIBOR for each Interest Period (the "Calculation Agent"). The
Issuer hereby initially appoints the Indenture Trustee as the Calculation Agent
for purposes of determining LIBOR for each Interest Period. The Calculation
Agent may be removed by the Issuer at any time. If the Calculation Agent is
unable or unwilling to act as such or is removed by the Issuer, or if the
Calculation Agent fails to determine LIBOR for an Interest Period, the Issuer
shall promptly appoint a replacement Calculation Agent that does not control or
is not controlled by or under common control with the Issuer or its Affiliates.
The Calculation Agent may not resign its duties, and the Issuer may not remove
the Calculation Agent, without a successor having been duly appointed.

         (b)     On each LIBOR Determination Date, the Calculation Agent shall
determine LIBOR on the basis of the rate for deposits in United States dollars
for a one-month period which appears on Telerate Page 3750 or on such comparable
system as is customarily used to quote LIBOR as of 11:00 a.m., London time, on
such date. If such rate does not appear on Telerate Page 3750 or on a comparable
system as is customarily used to quote LIBOR the rate for that LIBOR
Determination Date shall be determined on the basis of the rates at which
deposits in United States dollars are offered by the Reference Banks at
approximately 11:00 a.m., London time, on that day to prime banks in the London
interbank market for a one-month period. The Calculation Agent shall request the
principal London office of each of the Reference Banks to provide a quotation of
its rate. If at least two such quotations are provided, the rate for that LIBOR
Determination Date shall be the arithmetic mean of the quotations. If fewer than
two quotations are provided as requested, the rate for that LIBOR Determination
Date will be the arithmetic mean of the rates quoted by major banks in New York
City, selected by the Benefi-

                                       7

<PAGE>

ciary, at approximately 11:00 a.m., New York City time, on that day for loans in
United States dollars to leading European banks for a one-month period.

         (c)     The Note Interest Rate applicable to the then current and the
immediately preceding Interest Periods may be obtained by telephoning the
Indenture Trustee at its corporate trust office at (612) 667-8058 or such other
telephone number as shall be designated by the Indenture Trustee for such
purpose by prior written notice by the Indenture Trustee to each Noteholder from
time to time.

         (d)     On each LIBOR Determination Date, the Calculation Agent shall
send to the Indenture Trustee and the Beneficiary, by facsimile transmission,
notification of LIBOR for the following Interest Period.

     Section 2.5 Payments of Interest and Principal.
                 ----------------------------------

         (a)     Any installment of interest or principal, if any, payable on
any Class A(2002-1) Note which is punctually paid or duly provided for by the
Issuer and the Indenture Trustee on the applicable Interest Payment Date or
Principal Payment Date shall be paid by the Paying Agent to the Person in whose
name such Class A(2002-1) Note (or one or more Predecessor Notes) is registered
on the Record Date, by wire transfer of immediately available funds to such
Person's account as has been designated by written instructions received by the
Paying Agent from such Person not later than the close of business on the third
Business Day preceding the date of payment or, if no such account has been so
designated, by check mailed first-class, postage prepaid to such Person's
address as it appears on the Note Register on such Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of
Cede & Co., payment shall be made by wire transfer in immediately available
funds to the account designated by such nominee.

         (b)     The right of the Class A(2002-1) Noteholders to receive
payments from the Issuer will terminate on the first Business Day following the
Class A(2002-1) Termination Date.

     Section 2.6 Form of Delivery of Class A(2002-1) Notes; Depository;
                 ------------------------------------------------------
Denominations.
-------------

         (a)     The Class A(2002-1) Notes shall be delivered in the form of a
global Registered Note as provided in Sections 2.02 and 3.01(i) of the
Indenture, respectively.

         (b)     The Depository for the Class A(2002-1) Notes shall be The
Depository Trust Company, and the Class A(2002-1) Notes shall initially be
registered in the name of Cede & Co., its nominee.

         (c)     The Class A(2002-1) Notes will be issued in minimum
denominations of $1,000 and integral multiples of that amount.

                                       8

<PAGE>

     Section 2.7 Delivery and Payment for the Class A(2002-1) Notes. The Issuer
                 --------------------------------------------------
shall execute and deliver the Class A(2002-1) Notes to the Indenture Trustee for
authentication, and the Indenture Trustee shall deliver the Class A(2002-1)
Notes when authenticated, each in accordance with Section 3.03 of the Indenture.

     Section 2.8 Supplemental Indenture. The Issuer may enter into a
                 ----------------------
supplemental indenture with respect to the Class A(2002-1) Notes as provided in
Section 9.01 of the Indenture, provided, however, that any supplemental
                               --------  -------
indenture which provides for an additional or alternative form of credit
enhancement for the Class A(2002-1) Notes shall, in addition to the requirements
set forth in Section 9.01 of the Indenture, require confirmation from the Note
Rating Agencies that have rated any Outstanding Notes of the ONEseries that such
change in credit enhancement will not result in a Ratings Effect with respect to
any Outstanding Notes of the ONEseries.

     Section 2.9 Appointment of co-Paying Agent and co-Transfer Agent. BDL is
                 ----------------------------------------------------
appointed as co-paying agent and as co-transfer agent in Luxembourg with respect
to the Class A(2002-1) Notes for so long as the Class A(2002-1) Notes are listed
on the Luxembourg Stock Exchange. Any reference in this Terms Document, the
Indenture Supplement, the Asset Pool Supplement and the Indenture to the Paying
Agent or the Transfer Agent shall be deemed to include BDL as co-paying agent or
co-transfer agent, as the case may be, unless the context requires otherwise.

                               [END OF ARTICLE II]

                                       9

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Terms Document to
be duly executed, all as of the day and year first above written.

                                      BANK ONE ISSUANCE TRUST

                                      By: FIRST USA BANK, NATIONAL ASSOCIATION,
                                          as Beneficiary and not in its
                                          individual capacity

                                      By: /s/ Stephen R. Etherington
                                          ----------------------------------
                                          Name:  Stephen R. Etherington
                                          Title: First Vice President

                                      WELLS FARGO BANK MINNESOTA, NATIONAL
                                      ASSOCIATION, as Indenture Trustee and
                                      Collateral Agent

                                      By: /s/ Jennifer C. Davis
                                          ----------------------------------
                                          Name:  Jennifer C. Davis
                                          Title: Assistant Vice President

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

<TABLE>
<CAPTION>
                                                                                        PAGE
                                                                                        ----
<S>                                                                                     <C>
                                          ARTICLE I

                   Definitions and Other Provisions of General Application

Section 1.1   Definitions ...........................................................      1
              -----------

Section 1.2   Governing Law .........................................................      4
              -------------

Section 1.3   Counterparts ..........................................................      4
              ------------

Section 1.4   Ratification of Indenture and Indenture Supplement ....................      4
              --------------------------------------------------

                                         ARTICLE II

                                  The Class A(2002-1) Notes

Section 2.1   Creation and Designation ..............................................      5
              ------------------------

Section 2.2   Specification of Required Subordinated Amount and Other Terms .........      5
              -------------------------------------------------------------

Section 2.3   Interest Payment ......................................................      6
              ----------------

Section 2.4   Calculation Agent; Determination of LIBOR. ............................      6
              -----------------------------------------

Section 2.5   Payments of Interest and Principal ....................................      7
              ----------------------------------

Section 2.6   Form of Delivery of Class A(2002-1) Notes; Depository; Denominations ..      8
              --------------------------------------------------------------------

Section 2.7   Delivery and Payment for the Class A(2002-1) Notes ....................      8
              --------------------------------------------------

Section 2.8   Supplemental Indenture ................................................      8
              ----------------------

Section 2.9   Appointment of co-Paying Agent and co-Transfer Agent ..................      8
              ----------------------------------------------------
</TABLE><PAGE>

                                                                   EXHIBIT 10.23

                        CONFIDENTIAL SEVERANCE AGREEMENT

                  This agreement between SOLA INTERNATIONAL, INC., a Delaware
corporation (the "Company) and Barry J. Packham (the "Executive") is dated and
entered into as of January 1, 1997. The Company and the Executive hereby agree
as follows:

                  WHEREAS, the Executive is a valued employee of the Company;
and

                  WHEREAS, the Company desires to provide the Executive with
certain benefits should his employment be terminated:

                  THEREFORE, in consideration of the foregoing, the Company and
the Executive have agreed to the following terms while he is employed and in the
event of such a Severance:

                  1. Employment Term. The Executive acknowledges that he is
employed at-will by the Company subject only to the terms of this Agreement. The
Executive agrees to devote substantially all of his productive time, ability and
attention to the business of the company while he is employed by the Company,
and shall not, directly or indirectly, render services of a business, commercial
or professional nature to any other person or organization, whether for
compensation or otherwise, without the prior consent of the President of the
Company or his designee.

                  2. Severance. In the event that any of the following occurs,
the Executive shall be entitled to the benefits set forth in paragraph 3 below.
For purposes of this Agreement a Severance shall have taken place only if:

                           A. The Executive's employment with the Company is
terminated for any reason other than cause. For purposes of this Agreement,
"cause" is defined as the Executive's engaging in: (i) willful misconduct,
neglect of duties, or any act or omission any or all of which materially
adversely affect the Company's business, or (ii) conviction of a felony.

                                    (i) For purposes of subparagraph 2.A(i), no
such event or omission shall constitute cause unless the Executive fails to cure
the underlying matter within forty-five (45) days after receipt from the Company
of a detailed statement of the cause for termination.

                           B. The Executive is regularly assigned duties and
responsibilities that materially diminish his position as an Executive of the
Company. For the purpose of this subparagraph, the assignment of duties, other
than those Executive performs as of the date of this Agreement, whether or not
in lieu of those

                                       1
<PAGE>

previously assigned duties, does not by itself constitute a material
diminishment of the Executive's position with the Company.

                           C. The Executive's compensation (including but not
limited to salary and benefits) is reduced and that reduction is not part of, or
is disproportionate to a company general reduction of executive compensation.

                  The Executive shall not be entitled to any Severance Benefits
as set forth in paragraph 3 of this Agreement if he freely and voluntarily
resigns his employment with the Company.

                  3. Severance Benefits. If a Severance takes place, then
immediately after the occurrence of that event or events, the Executive shall be
entitled to the following:

                           A. To continue to receive his compensation for either
the period of twelve (12) months or one (1) month per completed year of service
with the Company, up to a maximum of (18) months , whichever is longer,
commencing the first of the month following the month in which the Severance
takes place. For purposes of this paragraph, the Executive's "compensation"
shall be that annual salary in effect immediately prior to the Severance, plus
the average of Management Incentive Plan compensation (or successor thereto)
paid to him over the three years immediately prior to the Severance.

                           B. To continue for either a period of twelve (12)
months or one (1) month per completed year of service with the Company up to a
maximum of eighteen (18) months whichever is longer to be covered by and
participate in, at the Company's expense, any and all benefit plans the Company
regularly provides its other executives or employees including, but not limited
to, health, dental, vision, pension or other retirement plans.

                           C. To receive outplacement assistance in the form of
professional consultation and administrative assistance, subject to the approval
of the Company, which shall not be unreasonably withheld. The Company shall pay
up to a maximum of twenty-five thousand dollars ($25,000.00) for the
aforementioned outplacement services during the period the Executive receives
Severance Benefits as described in A and B above.

                  4. Non-Mitigation. The Executive shall not be required to
mitigate the amount of any payments or other benefits provided under this
Agreement at any time by seeking other employment or consultancy; however the
Executive shall notify the Company of any employment or consulting engaged in
during the period covered by Severance Benefits provided in Section 3 and the
amounts payable and benefits provided shall be reduced or offset by the amount
of any salary, bonus of any sort, fees, stock, stock options, stock dividends,
other securities or any non-cash consideration so paid or payable and benefits
to be received with respect to such

                                       2
<PAGE>

period and that offset or reduction shall be determined by the Company in the
complete and absolute exercise of its sole discretion.

                  5. Non-Disparagement. In the event of a Severance both the
Executive and the Company agree that neither of them will disparage the other in
any manner.

                  6. Covenants-Not to Compete and Not to Solicit.

                           A. Covenant Not to Compete.

                           The Executive recognizes that the services to be
performed while employed by the Company are special, unique, and extraordinary
and that by reason of the Executive's prior and continued employment with the
Company the Executive has acquired and will acquire confidential information and
trade secrets concerning the Company's operations ("Company Confidential
Information") and the operations of its parent and affiliates ("Affiliate
Confidential Information"). Accordingly, it is agreed that during the period of
Employment by the Company, and for any period following a Severance covered by
payments provided for in Section 3 hereof, the Executive will not, directly or
indirectly, as an officer, director, stockholder, partner, associate, owner,
employee, consultant or otherwise, become or be interested in or associated with
any other corporation, firm or business engaged in the same or a similar or
competitive business with the Company or any of its affiliates in any
geographical area in which the Company or any of its affiliates are then engaged
in business, provided that the Executive's ownership, directly or indirectly, of
not more than one percent of the issued and outstanding stock of a corporation
the shares of which are regularly traded on a national securities exchange or in
the over-the-counter market shall not, in any event, be deemed to be a violation
of this subsection.

                           B. Covenant Not to Solicit.

                           The Executive agrees not to solicit any person
employed by the Company or its affiliates who perform a scientific, technical,
sales or marketing function. As used herein, "solicit" or "soliciting" means any
direct or indirect approach or appeals to such an employee to leave the Company.
Indirect solicitation includes but is not limited to, acting through a third
party or parties or characterizing job advertisements or opportunities in such a
fashion so as to entice any employee. The executive agrees that, if approached
by a Company employee, the Executive will:

                           (i)      Inform the employee of the Executive's
                                    obligations set forth in this subparagraph;

                           (ii)     Refer the employee to the relevant Company
                                    Human Resources personnel; and

                           (iii)    Request that the employee confirm in writing
                                    to the Company that he has approached the
                                    Executive and

                                       3
<PAGE>

                                    confirm that request in a memorandum to such
                                    Human Resources organization.

                  7. Confidentiality. The Executive recognizes that the services
to be performed while employed by the Company are special, unique, and
extraordinary and that by reason of the Executive's prior and continued
employment with the Company the Executive has acquired and will acquire
confidential information and trade secrets concerning the Company's operations
("Company Confidential Information") and the operations of its parent and
affiliates ("Affiliate Confidential Information"). Accordingly, it is agreed
that:

                           A. The Executive shall not divulge to any entity or
person, other than the Company or its affiliates, or, in the event of an
assignment of this Agreement pursuant to Section 10 hereof, the assignee and its
affiliates, if any, whether while employed or after a Severance, any Company
Confidential Information concerning the Company's customer lists, research or
development programs or plans, processes, methods or any other of its trade
secrets, except information that is then available to the public in published
literature and became publicly available through no fault of the Executive.

                           B. The Executive shall not divulge to any person or
entity, including an assignee of this Agreement and its affiliates, but
excepting the Company and its affiliates, whether while employed or after a
Severance, any Affiliate Confidential Information acquired by the Executive
concerning the customer lists, research or development programs or plans,
processes, methods or any other trade secrets of the parent or any affiliate,
except information which is then available to the public in published literature
and became publicly available through no fault of the Executive.

                           C. The Executive acknowledges that all information
the disclosure of which is prohibited hereby is of a confidential and
proprietary character and of great value to the Company and its affiliates. Upon
a Severance, the Executive shall forthwith deliver up to the Company all
records, memoranda, data and documents of any description which refer or relate
in any way to Company Confidential Information or Affiliate Confidential
Information and return to the Company any of its equipment and property which
may then be in the Executive's possession or under the executive's personal
control. Upon the assignment of this Agreement, pursuant to Section 10, the
Executive shall forthwith deliver up to the Company all records, memoranda, data
and documents of any description which refer or relate in any way to Affiliate
Confidential Information and return to the Company any of its equipment and
property which may then be in the Executive's possession or under the
Executive's personal control.

                           D. The Executive agrees that while employed and for a
two year period after the occurrence of a Severance not to disclose the terms of
this Agreement to any person other than the Executive's immediate family, the
executive's attorneys, accountants and other professional advisors or a
prospective employer permitted hereby, except as otherwise required by law.

                                       4
<PAGE>

                  8. Invention Assignment. The Executive agrees that any
invention made by the Executive while employed shall belong to the Company if
(i) it was made in the normal course of the duties of the Executive or in the
course of duties falling outside the Executive's normal duties but specifically
assigned to the Executive, and the circumstances in either case were such that
an invention might reasonably be expected to result from the carrying out of
such duties, or (ii) the invention was made in the course of the duties of the
Executive and, at the time of making the invention, because of the nature of the
Executive's duties and the particular responsibilities arising from the nature
of the Executive's duties, the Executive had a special obligation to further the
interests of the Company. In addition, if (x) the Executive while employed shall
make any improvement or develop any know-how, copyrightable work or design, (y)
such improvement, know-how, copyrightable work or design is relevant to the
business of the Company or any of its subsidiaries, and (z) such improvement,
know-how, copyrightable work or design arouse directly out of any work carried
out while employed, or out of Confidential Company Information or Confidential
Affiliate Information to which the Executive had access while in the employ of
the Company, then such improvement, know-how, copyrightable work or design shall
belong to the Company whether or not it was disclosed to the Company while
employed by the Company.

                           A. In the event that the Executive makes any
invention or develops any improvement, know-how, copyrightable design or work
which belongs to the Company, the Executive shall fully, freely and immediately
communicate the same to the Company and the Executive shall, if and as desired
by the Company execute all documents and do all acts and things at the Company's
cost which may be necessary or desirable to obtain letters patent or other
adequate protection in any part of the world for such invention, improvement,
know-how, copyrightable work or design and to vest the same in the Company for
the Company's benefit. The Executive hereby irrevocably appoints the Company as
the Executive's attorney in the Executive's name and on the Executive's behalf
to execute all such deeds and documents and to do all such acts and things as
may be necessary to give effect to this Subsection in the event that the
Executive fails to comply within seven days with the written directions given by
the Company pursuant to this Subsection.

                           B. The Executive has been notified and understands
that the provisions of Subsections 6(g) and 6(h) hereof do not apply to any
invention that qualifies fully under the provisions of Section 2870 of the
California Labor Code, which states as follows:

                                    (i) Any provision in an employment agreement
which provides that an employee shall assign, or offer to assign, any of his or
her rights in an invention to his or her employer shall not apply to an
invention that the employee developed entirely on his or her own time without
using the employer's equipment, supplies, facilities, or trade secret
information except for those inventions that either:

                                       5
<PAGE>

                                             (1) Relate at the time of
conception or reduction to practice of the invention to the employer's business,
or actual or demonstrably anticipated research or development of the employer;
or

                                             (2) Result from any work performed
by the employee for the employer.

                                    (ii) To the extent a provision in an
employment agreement purports to require an employee to assign an invention
otherwise excluded from being required to be assigned under subdivision (a), the
provision is against the public policy of this state and is unenforceable.

                  9. Remedies. The Company shall be entitled, in addition to any
other right or remedy that it may have at law or in equity with respect to a
breach of this Agreement by the Executive (including the right to terminate
payments pursuant to Section 3 hereof), to an injunction, without the posting of
a bond or other security, enjoining or restraining the Executive from any
violation or threatened violation of this section, and the Executive hereby
consents to the issuance of such an injunction.

                 10. Moral Rights Waiver. "Moral Rights" means any right to
claim authorship of a work, any right to object to any distortion, or other
modification of a work, and any similar right, existing under the law of any
country in the world, or under any treaty. Executive hereby irrevocably
transfers and assigns to the Company any and all Moral Rights that Executive may
have in any services or materials. Executive also hereby forever waives and
agrees never to assert against client, its successors or assigns and any and all
Moral Rights Executive may have in any services or materials, even after
termination of this Agreement.

                 11. Release. In consideration of the payments and covenants
made in this Agreement, the Executive hereby releases the Company, its
Employees, officers, directors, subsidiaries, affiliates, successors and assigns
and the Company, its subsidiaries, affiliates, successors and assigns hereby
release the Executive from any and all claims for relief or causes of action
relating to any matters of any kind arising out of his employment (or its
termination) with the Company excepting those claims for relief for causes of
action relating to the Severance Benefit obligations of the Company under
Section 3 of this Agreement.

                 The Executive expressly waives all rights and remedies under
Section 1542 of the Civil Code of the State of California which provides as
follows:

                 A general release does not extend to claims which the creditor
                 does not know or suspect to exist in his favor at the time of
                 executing the release, which if known by him must have
                 materially affected his settlement with the debtor.

                 The Executive understands that if the facts with respect to
which this Agreement is executed are found hereafter to be different from the
facts which you now believe to be true, the Executive expressly accepts and
assumes the risk of such

                                       6
<PAGE>

possible differences in facts and agrees that this Agreement shall be and remain
effective notwithstanding such differences in facts.

                 12. Notices. All notices, consents, waivers or demands of any
kind which either party to this Agreement may be required or may desire to serve
on the other party in connection with this Agreement shall be in writing and may
be delivered by personal service or sent by telegraph or cable or sent by
registered or certified mail, return receipt requested with postage thereon
fully prepaid. All such communications shall be addressed as follows:

THE COMPANY:      Sola International, Inc.
                  Suite 200
                  2420 Sand Hill Road
                  Menlo Park, California 94025

THE EXECUTIVE:

                  Barry J. Packham
                  23 Rose Street
                  Glenelg, SA 5045
                  Australia

                  If sent by telegraph or cable, a confirmed copy of such
telegraphic or cable notice shall be promptly sent by mail (in the manner
provided above) to the addressees. Service of any such communication made only
by mail shall be deemed complete on the date of actual delivery as shown by the
addressee's registry or certification receipt or at the expiration of the third
(3rd) business day after the date of mailing which ever is later in time. Either
party hereto may from time to time, by notice in writing served upon the other
as aforesaid, designate a different mailing address or a different person to
which such notices or demands are thereafter to be addressed or delivered.
Nothing contained in this Agreement shall excuse either party from giving oral
notice to the other when prompt notification is appropriate, but any oral notice
given shall not satisfy the requirement of written notice as provided in this
paragraph.

                  13. Choice of Law. This Agreement shall be governed and
construed and enforced in accordance with the laws of the State of California
(regardless of that jurisdiction or any other jurisdictions choice of law
principles).

                  14. Assignment. This Agreement may be assigned by the Company
to any affiliate of the Company or to any non-affiliate of the Company that
shall succeed to the business and assets of the Company. In the event of such
assignment, the Company shall cause such affiliate or non-affiliate as the case
may be, to assume the obligations of the Company hereunder by written agreement
addressed to the Executive concurrently with any assignment with the same effect
as if such assignee were the Company hereunder. This Agreement is personal to
the Executive and the

                                       7
<PAGE>

Executive may not assign any rights or delegate any responsibilities hereunder
without the prior approval of the Company.

                  15. Entire Agreement. This Agreement is the entire Agreement
between the Company and the Executive with respect to the subject matter hereof
and cancels and supersedes any and all other agreements regarding the subject
matter hereof between the parties. This Agreement may not be altered, modified,
changed, or discharged except in writing signed by both of the parties.

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

                  17. Construction. If any one or more of the provisions (or any
part thereof) of this Agreement shall be held to be invalid, illegal or
unenforceable in any respect of validity, legality and enforceability of the
remaining provisions (or any part thereof) shall not in any way be affected or
impaired thereby.

                  18. Arbitration. With respect to any controversy arising out
of or relating to this Agreement, or the subject matter thereof, such
controversy shall be settled by final and binding arbitration in Palo Alto,
California in accordance with the then existing rules ("the Rules") of the
American Arbitration Association ("AAA) and judgment upon the award rendered by
the arbitrators may be entered in any court having jurisdiction thereof;
provided however, that the law applicable to any controversy shall be the law of
California, regardless of its or any jurisdictions choice of law principles.
Arbitration shall be the sole and exclusive remedy for the resolution of the
disputes described above. In any such arbitration, the award or decision shall
be rendered by a majority of the members of a board of arbitration, consisting
of three (3) members, one of whom shall be appointed by each party and the third
of whom shall be the chairman of the panel and be appointed by mutual agreement
of said two party appointed arbitrators. In the event of the failure of said two
arbitrators to agree, within five (5) working days after the commencement of the
arbitration, upon appointment of the third arbitrator, the third arbitrator
shall be appointed by the AAA in accordance with the Rules. In the event that
either party shall fail to appoint an arbitrator within five (5) days after the
commencement of the arbitration proceeding, such arbitrator and the third
arbitrator shall be appointed by the AAA in accordance with the Rules. The
arbitrator is empowered but, not limited, in making an award in favor of the
Executive to require any act or acts which they believe necessary to effectuate
the intent of this Agreement. The Company agrees that any costs of any
arbitration brought whether by the Executive or the Company including the
Executive's reasonable attorney's fees and expenses and the costs, fees and
expenses of the Executive's party appointed arbitrator, shall be borne in their
entirety by the Company

                  19. THE EXECUTIVE ACKNOWLEDGES THAT HE HAS HAD THE OPPORTUNITY
TO CONSULT WITH THE ADVISOR OF HIS CHOICE AND THAT HE HAS FREELY AND VOLUNTARILY
ENTERED INTO THIS AGREEMENT.

                                       8
<PAGE>

                  IN WITNESS WHEREOF, the parties have executed this Agreement
as of the day and year written below.

                                          Sola International, Inc.

                                          By /s/ Steve Lee
                                             ---------------------

                                              /s/ Barry Packham

                                              Barry J. Packham

                                       9

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