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Exhibit 10.10    
  

 
 

SUBSCRIPTION AGREEMENT
  AND
  LETTER OF INVESTMENT INTENT    
  

Illinois
River Energy, LLC

1201 South Seventh Street, Suite 110

Rochelle, Illinois 61068 

Gentlemen:

        The
undersigned,                        , hereby subscribes for the purchase of a promissory note of Illinois River Energy, LLC (the
"Company") in the amount of $                        (the
"Subscription Amount") upon the terms and conditions set forth below. Upon acceptance of this subscription, the undersigned agrees to deliver a check for the Subscription Amount and, in consideration
thereof, the Company agrees to deliver to the undersigned a promissory note (the "Note"), substantially in the form attached as Exhibit A in the amount subscribed, in a principal amount equal
to the Subscription Amount. Upon acceptance of this subscription and payment, the Company shall also issue to the undersigned a warrant (the "Warrant"), substantially in the form attached as
Exhibit B, to purchase one Class A Unit for each $1.00 of principal amount of the Note, at an initial exercise price of $1.00 per unit, exercisable at any time after issuance and prior
to the fifth (5th) anniversary of the date of issuance. The Class A Units issuable upon exercise of the Warrant are referred to herein as the "Warrant Units." The Note, Warrant and Warrant
Units are collectively referred to herein as the "Securities." The undersigned acknowledges that the Company may reject this subscription in whole or in part for any reason. 

        In
connection with, and in consideration of, the sale of the Securities to the undersigned, the undersigned hereby represents and warrants to the Company that the undersigned: 

        (a)  Has
received and carefully reviewed a copy of the Illinois River Energy, LLC Certificate of Formation and Limited Liability Company Agreement, as amended ("LLC
Agreement") and agrees that upon issuance of the Warrant Units, the undersigned will be bound by the provisions of the LLC Agreement, including, among others, Sections 1.10 and 1.11, and the
restrictions on the transfer of units; 

        (b)  Has
been given access to full and complete information regarding the Company (including the opportunity to meet with Company officers and review such documents as the
undersigned deems appropriate) and has utilized such access to the undersigned's satisfaction; 

        (c)  Has,
either alone or with the assistance of the undersigned's own professional advisor, the knowledge and experience in financial and business matters and is capable of
evaluating the merits and risks of the prospective investment in the Securities; 

        (d)  Recognizes
that an investment in the Securities involves a high degree of risk, and the undersigned is in a financial position to purchase and to hold the Securities for
an indefinite period of time and can bear the economic risk and withstand a complete loss of his or her investment; 

        (e)  Realizes
that there will be no market for the Securities, that there are significant restrictions on the transferability of the Securities, and consents to the Company
placing restrictive legends on any certificate or instrument representing the Securities; 

        (f)    Understands
that the Securities have not been registered under the Securities Act of 1933, as amended (the "Act"), or any state securities laws and are being offered and
sold pursuant to exemptions therefrom, predicated in part on the undersigned's representations and warranties 

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contained herein, that transfer thereof is restricted by the Act and applicable state securities laws, and that the Securities cannot be resold unless they are registered under the Act and applicable
state securities laws or an exemption from registration is available; and agrees that if the Securities or any part thereof are sold or distributed in the future, the undersigned will sell or
distribute them pursuant to the Company's LLC Agreement and the requirements of the Act and applicable state securities laws; 

        (g)  Is
experienced and knowledgeable in financial and business matters, capable of evaluating the merits and risks of investing in the Securities, and does not need or
desire the assistance of a knowledgeable representative to assist in the evaluation of such risks (or, in the alternative, has a knowledgeable
representative whom such investor intends to use in connection with a decision as to whether to purchase the Securities); 

        (h)  Is
purchasing the Securities for his or her own account, for investment purposes only, and not for or with a view toward resale or distribution; and 

        (i)    Is
a bona fide resident of (or, if an entity, is organized or incorporated under the laws of, and is domiciled in), and received the offer and decided to invest in the
Securities in the State of            . 

        The
undersigned understands that the Company is relying on the representations, warranties and other information set forth in this Subscription Agreement with respect to the offer and
sale of the Securities. The representations and warranties contained herein shall survive and remain in full force and effect after the execution hereof and payment for the Securities. By signing
below, the undersigned certifies that all information provided in this Subscription Agreement is accurate and complete as of the date listed below. 

	Individuals:	 	Entities:
	    
 Signature of Investor	 	    
 Name of Entity
	

    
 Print Name	
 	

    
 Authorized Signature
	

    
 Signature of Joint Investor	
 	

    
 Print Name
	

 	
 	

 	
 	

Its:	
 	

 
	
 Print Name	 	 	 	

	 	 	 	 	Date:	 	 
	Date:	 	 	 	 	 	

	 	 	
	 	 	 	 

	Address:	 	 	 	Telephone No.:	 	 
	 	 	
	 	 	 	

	 	 	    
	 	 	 	 
	 	 	 	 	Facsimile No.:	 	 
	 	 	
	 	 	 	

	 	 	    
	 	 	 	 
	 	 	    	 	 	 	 

	    
 Investor's Social Security No.	 	    
 Joint Investor's Social Security No.	 	    
 Taxpayer Identification No.

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ACCEPTANCE    
  

        This Subscription Agreement and Letter of Investment Intent is accepted as
of                        , 2003. 

	 	 	ILLINOIS RIVER ENERGY, LLC
	

 	
 	
By:	

 
	 	 	 	

	 	 	 	Its:	 
	 	 	 	 	

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Exhibit A    
  

THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN
THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND STATE LAWS, UNLESS PRIOR TO SUCH SALE, TRANSFER, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION THE ISSUER RECEIVES AN OPINION OF
COUNSEL, IN FORM AND SUBSTANCE SATISFACTORY TO IT, THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT AND STATE LAWS. 

PROMISSORY
NOTE 

	$                        	 	Rochelle, Illinois

                        , 2003

        For
value received, the undersigned, Illinois River Energy, LLC, a Delaware limited liability company (the "Company"), hereby promises to pay to the order
of                        (including
the lawful transferors thereof as noted in the record books of the Company, the "Holder"), in lawful money of the United States of America, the principal sum
of                        ($            ),
together with simple interest on the outstanding principal amount hereunder, computed from the date said funds were advanced to the Company until this Note is fully paid at an annual rate of four
percent (4%) plus the prime interest rate as determined from time to time by Wells Fargo Bank, N.A. for loans to its most creditworthy commercial borrowers, computed on the basis of the actual number
of days elapsed and a 365-day year. 

	1.
	Payment of Principal and Interest

        (a)  The
principal indebtedness evidenced by this Note shall be due and payable on the first anniversary of the date of this Note or, if earlier, on the date on which the
Company completes the sale of at least 25,000,000 of the Company's Class A units and/or Class B units in the aggregate in connection with the Company's initial public offering of units
pursuant to its Registration Statement on Form SB-2, as amended (Registration No. 333-96977). 

        (b)  Interest
due under this Note shall accrue and become due and payable upon the date that all principal indebtedness evidenced by this Note is due and payable. 

	2.
	Default.

        The
entire unpaid principal of this Note and the interest then accrued on this Note shall become and be immediately due and payable upon written demand of the holder of this Note,
without any other notice or demand of any kind or any presentment or protest, if any one of the following events (each an "Event of Default") shall occur and be continuing at the time of such demand,
whether voluntarily or involuntarily, or, without limitation, occurring or brought about by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any
order, rule or regulation of any governmental body: 

        (a)  If
the Company defaults in the payment of any principal or interest due under this Note, and any default shall remain unremedied for five (5) days after notice of
default; 

        (b)  If
the Company (i) makes a composition or an assignment for the benefit of creditors or trust mortgage, (ii) applies for, consents to, acquiesces in, files
a petition seeking or admits (by answer, default or otherwise) the material allegations of a petition filed against it seeking the appointment of a trustee, receiver or liquidator, in bankruptcy or
otherwise, of itself or of all or a substantial portion of its assets, or a reorganization, arrangement with creditors or other remedy, relief or adjudication available to or against a bankrupt,
insolvent or debtor under any bankruptcy 

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or insolvency law or any law affecting the rights of creditors generally, or (iii) admits in writing its inability to pay its debts generally as they become due; 

        (c)  If
an order for relief shall have been entered by a bankruptcy court or if a decree, order or judgment shall have been entered adjudging the Company insolvent, or
appointing a receiver,
liquidator, custodian or trustee, in bankruptcy or otherwise, for it or for all or a substantial portion of its assets, or approving the winding-up or liquidation of its affairs on the
grounds of insolvency or nonpayment of debts, and such order for relief, decree, order or judgment shall remain undischarged or unstayed for a period of forty-five (45) days; or if
any substantial part of the property of the Company is sequestered or attached and shall not be returned to the possession of the Company or such subsidiary or released from such attachment within
forty-five (45) days; or 

        (d)  If
the Company is dissolved or liquidated. 

	3.
	Note Register; Transferability of Note; Replacement Notes.

        (a)  The
Company shall keep at its principal executive office a register (herein sometimes referred to as the "Note Register") in which, subject to such reasonable
regulations as it may prescribe, but at its expense (other than transfer taxes, if any), the Company shall provide for the registration and transfer of this Note. 

        (b)  This
Note shall not be transferable, in whole or in part, without the prior written consent of the Company. 

        (c)  Upon
receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Note and of indemnity reasonably satisfactory
to it, and upon reimbursement to the Company of all reasonable expenses incidental thereto, and upon surrender and cancellation of this Note (in case of mutilation) the Company will make and deliver
in lieu of this Note a new Note of like tenor and unpaid principal amount and dated as of the date to which interest has been paid on the unpaid principal amount of this Note in lieu of which
such new Note is made and delivered. 

	4.
	General.

        (a)    Successors and Assigns.    This Note, and the obligations and rights of the Company hereunder, shall be binding
upon and inure to the benefit of the Company, the holder of this Note, and their respective heirs, successors and assigns. 

        (b)    Recourse.    Recourse under this Note shall be to the general unsecured assets of the Company only and in no
event to the officers, managers or members of the Company. 

        (c)    Changes.    Changes in or additions to this Note may be made or compliance with any term, covenant, agreement,
condition or provision set forth herein may be omitted or waived (either generally or in a particular instance and either retroactively or prospectively), upon written consent of the Company and the
holders of this Note. 

        (d)    Notices.    All notices, requests, consents and demands shall be made in writing and shall be delivered by
facsimile to the fax number set forth below or by hand, sent via a reputable nationwide overnight courier service or mailed by first class certified or registered mail, return receipt requested,
postage prepaid, if to the holder hereof at the address of such holder as shown on the books of the Company, or if to the Company at the following address or to such other address as may be furnished
in writing to the holder hereof: Illinois River Energy, LLC, 1201 South Seventh Street, Suite 110, Rochelle, Illinois 61068, Attention: President (Fax: 815-561-0720). 

        Notices
provided in accordance with this Section 4(d) shall be deemed delivered upon confirmation of facsimile transmission, upon personal delivery, one business day after being
sent via reputable nationwide overnight courier service, or three business days after deposit in the mail. 

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        (e)    Saturdays, Sundays, Holidays.    If any date that may at any time be specified in this Note as a date for the
making of any payment of principal or interest under this Note shall fall on Saturday, Sunday or on a day which in Rochelle, Illinois shall be a legal holiday, then the date for the making of that
payment shall be the next subsequent day which is not a Saturday, Sunday or legal holiday. 

        (f)    Governing Law.    This Note shall be construed and enforced in accordance with, and the rights of the parties
shall be governed by, the laws of the State of Minnesota, excluding any choice of law provisions. 

        (g)    Collection Expenses.    The Company agrees to pay all costs of collection or enforcement, including reasonable
attorneys' fees and legal expenses, in the event this Note is not paid when due. 

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        IN
WITNESS WHEREOF, this Note has been executed and delivered as a sealed instrument on the date first above written by the duly authorized representative of the Company. 

	 	 	ILLINOIS RIVER ENERGY, LLC
	

 	
 	
By:	

 
	 	 	 	

	 	 	Its:	 
	 	 	 	

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Exhibit B    
  

THIS
WARRANT AND THE CLASS A UNITS ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE
SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND STATE LAWS, UNLESS PRIOR TO SUCH SALE, TRANSFER, PLEDGE,
HYPOTHECATION OR OTHER DISPOSITION THE ISSUER RECEIVES AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE SATISFACTORY TO IT, THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT AND STATE LAWS. 

UNIT
PURCHASE WARRANT 

To
Purchase Class A Units of 

ILLINOIS
RIVER ENERGY, LLC 

                        ,
2003 

        THIS
CERTIFIES THAT, for good and valuable consideration, the receipt of which is hereby acknowledged,                        (the
"Holder") is entitled to subscribe for and purchase from
Illinois River Energy, LLC, an Delaware limited liability company (herein called the "Company"), at any time after the date hereof to and
including                        , 2008, (the "Expiration Date") all
or any portion of                        of the Company's Class A Units ("Class A Unit(s)") at an exercise price of
$1.00 per Unit, subject to anti-dilution adjustments as provided
below. 

        This
Warrant is subject to the following provisions, terms and conditions: 

        1.    Exercise.    The rights represented by this Warrant may be exercised by the holder hereof, in whole or in part
(but not as to a fractional unit), by written notice of exercise delivered to the Company at least ten (10) days prior to the intended date of exercise and by the surrender of this Warrant
(properly endorsed if required) at the principal office of the Company and upon payment to it by certified or cashier's check of the applicable purchase price. 

        2.    Issuance of Units.    The Company agrees that the units purchased hereby shall be and are deemed to be issued to
the record holder hereof as of the close of business on the date on which this Warrant shall have been surrendered and the payment made for such units as aforesaid. Certificates for the units so
purchased (bearing any applicable restrictive legends) shall be delivered to the holder hereof within a reasonable time, not exceeding ten (10) days, after the rights represented by this
Warrant shall have been so exercised, and, unless this Warrant has expired, a new Warrant representing the number of units, if any, with respect to which this Warrant shall not then have been
exercised shall also be delivered to the holder hereof within such time. 

        3.    Covenants of Company.    The Company agrees that all Class A Units which may be issued upon the exercise
of the rights represented by this Warrant shall, upon issuance, be duly authorized and issued, fully paid and nonassessable units. The Company further agrees that during the period within which the
rights represented by this Warrant may be exercised, in the event this Warrant is exercised, the Company shall have authorized, and reserved for the purpose of issue or transfer upon exercise of the
subscription rights evidenced by this Warrant, a sufficient number of Class A Units to provide for the exercise of the rights represented by this Warrant. 

        4.    Anti-dilution Adjustments.    The above provisions are, however, subject to the following: 

        (a)  In
case the Company shall at any time hereafter subdivide or combine the outstanding Class A Units or declare a dividend payable in Class A Units, the
exercise price of this Warrant in effect immediately prior to the subdivision, combination or record date for such dividend shall 

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forthwith be proportionately increased, in the case of combination, or decreased, in the case of subdivision or dividend, and each Class A Unit purchasable upon exercise of the Warrant shall
be changed to the number determined by dividing the exercise price of this Warrant in effect immediately prior to the subdivision, combination or record date for such dividend by the exercise price as
so adjusted. 

        (b)  No
fractional units are to be issued upon the exercise of the Warrant, but the Company shall pay a cash adjustment in respect of any fraction of a unit which would
otherwise be issuable. Such payment
shall be made based on the fair market value of the Class A Units at the time of exercise, as determined in good faith by the Company. 

        (c)  If
any capital reorganization or reclassification of the capital units of the Company, or consolidation or merger of the Company with another company (other than a
merger or consolidation in which the Company is the survivor), or the sale of all or substantially all of its assets to another company shall be effected in such a way that holders of the
Class A Units shall be entitled to receive units, securities or assets with respect to or in exchange for Class A Units then, as a condition of such reorganization, reclassification,
consolidation, merger or sale, lawful and adequate provision shall be made whereby the holder hereof shall thereafter have the right to purchase and receive, upon the basis and upon the terms and
conditions specified in this Warrant and in lieu of the units immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby, such units, securities or assets to
which a holder of the number of Class A Units then deliverable upon the exercise hereof would have been entitled upon such reorganization, reclassification, consolidation, merger or sale, and
in any such case appropriate provisions shall be made with respect to the rights and interests of the holder of this Warrant to the end that the provisions hereof (including without limitation
provisions for adjustments of the Warrant exercise price and of the number of units purchasable upon the exercise of this Warrant) shall thereafter be applicable, as nearly as may be, in relation to
any units, securities or assets thereafter deliverable upon the exercise hereof. The Company shall not effect any such consolidation, merger or sale unless prior to the consummation thereof the
successor company (if other than the Company) resulting from such consolidation or merger, or the company purchasing such assets, shall assume by written instrument executed and mailed to the
registered holder hereof at the last address of such holder appearing on the books of the Company, the obligation to deliver to such holder such units, securities or assets as, in accordance with the
foregoing provisions, such holder may be entitled to purchase. 

        (d)  Upon
any adjustment of the warrant exercise price or the number of units issuable hereunder, then and in each such case, the Company shall give written notice thereof,
by first class mail, postage prepaid, addressed to the registered holder of this Warrant at the address of such holder as shown on the books of the Company, which notice shall state the warrant
purchase price resulting from such adjustment and the increase or decrease, if any, in the number of units purchasable at such price upon the exercise of this Warrant, setting forth in reasonable
detail the method of calculation and the facts upon which such calculation is based. 

        5.    No Voting Rights.    This Warrant shall not entitle the holder hereof to any voting rights or other rights as a
holder of the Company's units. 

        6.    Transfer Requires Consent.    This Warrant shall not be transferable, in whole or in part, without the prior
written consent of the Company 

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        IN
WITNESS WHEREOF, Illinois River Energy, LLC has caused this Warrant to be signed by its duly authorized officer. 

	 	 	ILLINOIS RIVER ENERGY, LLC
	

 	
 	
By:	

 
	 	 	 	

	 	 	Its:	 
	 	 	 	

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QuickLinks

Exhibit 10.10

SUBSCRIPTION AGREEMENT AND LETTER OF INVESTMENT INTENT

ACCEPTANCE

Exhibit A

Exhibit B<Page>

                                                                   Exhibit 10.20

                               GENZYME CORPORATION

                           1997 EQUITY INCENTIVE PLAN

1. PURPOSE

     The purpose of the Genzyme Corporation 1997 Equity Incentive Plan (the
"Plan") is to attract and retain key employees and consultants of the Company
and its Affiliates, to provide an incentive for them to achieve long-range
performance goals, and to enable them to participate in the long-term growth of
the Company by granting them Awards with respect to the Company's Common Stock.
Certain capitalized terms used herein are defined in section 9 below.

2. ADMINISTRATION

         The Plan shall be administered by the Committee. The Committee shall
select the Participants to receive Awards and shall determine the terms and
conditions of the Awards. The Committee shall have authority to adopt, alter and
repeal such administrative rules, guidelines and practices governing the
operation of the Plan as it shall from time to time consider advisable, and to
interpret the provisions of the Plan. The Committee's decisions shall be final
and binding. To the extent permitted by applicable law, the Committee may
delegate to one or more executive officers of the Company the power to make
Awards to Participants and all determinations under the Plan with respect
thereto, provided that the Committee shall fix the maximum amount of such Awards
for all such Participants and a maximum for any one Participant.

3. ELIGIBILITY

     All employees and consultants of the Company or any Affiliate capable of
contributing significantly to the successful performance of the Company are
eligible to be Participants in the Plan, other than persons deemed to be
officers of directors of the Company within the meaning of the corporate
governance rules for Nasdaq National Market companies.

4. STOCK AVAILABLE FOR AWARDS

(a) AMOUNT. Subject to adjustment under subsection (b), Awards may be made under
the Plan for up to 27,100,000 shares of Genzyme General Stock, up to 6,620,342
shares of Genzyme Biosurgery Stock and up to 2,200,000 shares of Genzyme
Molecular Oncology Stock. If any Award expires or is terminated unexercised or
is forfeited or settled in a manner that results in fewer shares outstanding
than were awarded, the shares subject to such Award, to the extent of such
expiration, termination, forfeiture or decrease, shall again be available for
award under the Plan. Common Stock issued through the assumption or substitution
of outstanding grants from an acquired company shall not reduce the shares
available for Awards under the Plan. Shares issued under the Plan may consist in
whole or in part of authorized but unissued shares or treasury shares.

(b) ADJUSTMENT. In the event that the Committee determines that any stock
dividend, extraordinary cash dividend, recapitalization, reorganization, merger,
consolidation, split-up, spin-off, combination, exchange of shares or other
transaction affects the Common Stock such that an adjustment is required in
order to preserve the benefits intended to be provided by the Plan, then the
Committee shall equitably adjust any or all of (i) the number and kind of shares
in respect of which Awards may be made under the Plan, (ii) the number and kind
of shares subject to outstanding Awards and (iii) the exercise price with
respect to any of the foregoing, provided that the number of shares subject to
any Award shall always be a whole number, and if considered appropriate, the
Committee may make provision for a cash payment with respect to an outstanding
Award. Notwithstanding the foregoing, unless otherwise determined by the
Committee, no adjustment will be made for dividends of one series of Common
Stock paid on another series of Common Stock.

                                       1

<Page>

5. STOCK OPTIONS

(a) GRANT OF OPTIONS. Subject to the provisions of the Plan, the Committee may
grant Options to purchase shares of Common Stock. The Committee shall determine
the number of shares subject to each Option and the exercise price therefor,
which shall not be less than 100% of the Fair Market Value of the Common Stock
as of the Pricing Date. The Plan does not provide for the granting of incentive
stock options meeting the requirements of Section 422 of the Code.

(b) TERMS AND CONDITIONS. Each Option shall be exercisable at such times and
subject to such terms and conditions as the Committee may specify in the
applicable grant or thereafter. The Committee may impose such conditions with
respect to the exercise of Options, including conditions relating to applicable
federal or state securities laws, as it considers necessary or advisable.

(c) PAYMENT. No shares shall be delivered pursuant to any exercise of an Option
until payment in full of the exercise price therefor is received by the Company.
Such payment may be made in whole or in part in cash or, to the extent permitted
by the Committee at or after the grant of the Option, by delivery of a note or
other commitment satisfactory to the Committee or shares of Common Stock owned
by the optionee, including Restricted Stock, or by retaining shares otherwise
issuable pursuant to the Option, in each case valued at their Fair Market Value
on the date of delivery or retention, or such other lawful consideration,
including a payment commitment of a financial or brokerage institution, as the
Committee may determine.

6. STOCK EQUIVALENTS

(a) GRANT OF STOCK EQUIVALENTS. Subject to the provisions of the Plan, the
Committee may grant rights to receive payment from the Company based in whole or
in part on the value of the Common Stock. The Committee shall determine at the
time of grant or thereafter whether Stock Equivalents are settled in cash,
Common Stock or other securities of the Company, Awards or other property.

(b) STOCK APPRECIATION RIGHTS. Stock Equivalents may include rights to receive
any excess in value of shares of Common Stock over the exercise price ("Stock
Appreciation Rights" or "SARs") which may be granted in tandem with an Option
(at or after the award of the Option), or alone and unrelated to an Option. SARs
in tandem with an Option shall terminate to the extent that the related Option
is exercised, and the related Option shall terminate to the extent that the
tandem SARs are exercised. The Committee shall fix the exercise price of each
SAR or specify the manner in which the price shall be determined and may define
the manner of determining the excess in value of the shares of Common Stock. An
SAR granted in tandem with an Option shall have an exercise price not less than
the exercise price of the related Option. An SAR granted alone and unrelated to
an Option may not have an exercise price less than 100% of the Fair Market Value
of the Common Stock as of the Pricing Date.

7. STOCK GRANTS

(a) GRANT OF STOCK. Subject to the provisions of the Plan, the Committee may
grant shares of Common Stock upon such terms and conditions as the Committee
determines. Stock Grants may be issued for no cash consideration, such minimum
consideration as may be required by applicable law or such other consideration
as the Committee may determine.

(b) RESTRICTED STOCK. Stock Grants may include shares subject to forfeiture
("Restricted Stock"). The Committee will determine the duration of the period
(the "Restricted Period") during which, and the conditions under which, the
shares may be forfeited to the Company and the other terms and conditions of
such Awards. Shares of Restricted Stock may not be sold, assigned, transferred,
pledged or otherwise encumbered, except as permitted by the Committee, during
the Restricted Period. Shares of Restricted Stock shall be evidenced in such
manner as the Committee may determine. Any certificates issued in respect of
shares of Restricted Stock shall be registered in the name of the Participant
and unless otherwise

                                       2

<Page>

determined by the Committee, deposited by the Participant, together with a stock
power endorsed in blank, with the Company. At the expiration of the Restricted
Period, the Company shall deliver such certificates to the Participant or if the
Participant has died, to the Participant's Designated Beneficiary.

8. GENERAL PROVISIONS APPLICABLE TO AWARDS

(a) DOCUMENTATION. Each Award under the Plan shall be evidenced by a writing
delivered to the Participant specifying the terms and conditions thereof and
containing such other terms and conditions not inconsistent with the provisions
of the Plan as the Committee considers necessary or advisable to achieve the
purposes of the Plan or to comply with applicable tax and regulatory laws and
accounting principles.

(b) COMMITTEE DISCRETION. Each type of Award may be made alone, in addition to
or in relation to any other Award. The terms of each type of Award need not be
identical, and the Committee need not treat Participants uniformly. Except as
otherwise provided by the Plan or a particular Award, any determination with
respect to an Award may be made by the Committee at the time of grant or at any
time thereafter.

(c) DIVIDENDS AND CASH AWARDS. In the discretion of the Committee, any Award
under the Plan may provide the Participant with (i) dividends or dividend
equivalents payable (in cash or in the form of Awards under the Plan) currently
or deferred with or without interest and (ii) cash payments in lieu of or in
addition to an Award.

(d) TERMINATION OF EMPLOYMENT. The Committee shall determine the effect on an
Award of the disability, death, retirement or other termination of employment of
a Participant and the extent to which, and the period during which, the
Participant's legal representative, guardian or Designated Beneficiary may
receive payment of an Award or exercise rights thereunder.

(e) CHANGE IN CONTROL. In order to preserve a Participant's rights under an
Award in the event of a change in control of the Company (as defined by the
Committee), the Committee in its discretion may, at the time an Award is made or
at any time thereafter, take one or more of the following actions: (i) provide
for the acceleration of any time period relating to the exercise or payment of
the Award, (ii) provide for payment to the Participant of cash or other property
with a Fair Market Value equal to the amount that would have been received upon
the exercise or payment of the Award had the Award been exercised or paid upon
the change in control, (iii) adjust the terms of the Award in a manner
determined by the Committee to reflect the change in control, (iv) cause the
Award to be assumed, or new rights substituted therefor, by another entity, or
(v) make such other provision as the Committee may consider equitable to
Participants and in the best interests of the Company.

(f) TRANSFERABILITY. In the discretion of the Committee, any Award may be made
transferable upon such terms and conditions and to such extent as the Committee
determines. The Committee may in its discretion waive any restriction on
transferability.

(g) LOANS. The Committee may authorize the making of loans or cash payments to
Participants in connection with the grant or exercise of any Award under the
Plan, which loans may be secured by any security, including Common Stock,
underlying or related to such Award (provided that the loan shall not exceed the
Fair Market Value of the security subject to such Award), and which may be
forgiven upon such terms and conditions as the Committee may establish at the
time of such loan or at any time thereafter.

(h) WITHHOLDING TAXES. The Participant shall pay to the Company, or make
provision satisfactory to the Committee for payment of, any taxes required by
law to be withheld in respect of Awards under the Plan no later than the date of
the event creating the tax liability. The Company and its Affiliates may, to the
extent permitted by law, deduct any such tax obligations from any payment of any
kind otherwise due to the Participant. In the Committee's discretion, such tax
obligations may be paid in whole or in part in shares of Common Stock, including
shares retained from the Award creating the tax obligation, valued at their Fair
Market Value on the date of delivery.

                                       3

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(i) FOREIGN NATIONALS. Awards may be made to Participants who are foreign
nationals or employed outside the United States on such terms and conditions
different from those specified in the Plan as the Committee considers necessary
or advisable to achieve the purposes of the Plan or to comply with applicable
laws.

(j) AMENDMENT OF AWARD. The Committee may amend, modify or terminate any
outstanding Award, including substituting therefor another Award of the same or
a different type, changing the date of exercise or realization, provided that
the Participant's consent to such action shall be required unless the Committee
determines that the action, taking into account any related action, would not
materially and adversely affect the Participant.

9. CERTAIN DEFINITIONS

     "Affiliate" means any business entity in which the Company owns directly or
indirectly 50% or more of the total voting power or has a significant financial
interest as determined by the Committee.

     "Award" means any Stock Option, Stock Equivalent or Stock Grant granted
under the Plan.

     "Board" means the Board of Directors of the Company.

     "Code" means the Internal Revenue Code of 1986, as amended from time to
time, or any successor law.

     "Committee" means one or more committees each comprised of not less than
two members of the Board appointed by the Board to administer the Plan or a
specified portion thereof.

     "Common Stock" or "Stock" means the Genzyme General Stock, the Genzyme
Biosurgery Stock, the Genzyme Molecular Oncology Stock and any other series of
common stock, $.01 par value, of the Company.

     "Company" means Genzyme Corporation.

     "Designated Beneficiary" means the beneficiary designated by a Participant,
in a manner determined by the Committee, to receive amounts due or exercise
rights of the Participant in the event of the Participant's death. In the
absence of an effective designation by a Participant, "Designated Beneficiary"
means the Participant's estate.

     "Fair Market Value" means, with respect to Common Stock or any other
property, the fair market value of such property as determined by the Committee
in good faith or in the manner established by the Committee from time to time.

     "Genzyme General Stock" means the Genzyme General Division Common Stock.

     "Genzyme Biosurgery Stock" means the Genzyme Biosurgery Division Common
Stock.

     "Genzyme Molecular Oncology Stock" means the Genzyme Molecular Oncology
Division Common Stock.

     "Participant" means a person selected by the Committee to receive an Award
under the Plan.

     "Pricing Date" means the date on which the Award is granted, except that
the Committee may provide that the Pricing Date for an Award granted to a new
employee or consultant shall be the date on which the recipient is hired or
engaged if the grant of the Award occurs within 90 days of the date such
employment or engagement commences.

                                       4

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     "Stock Equivalent" means a right to receive payment from the Company based
in whole or in part on the value of the Common Stock awarded to a Participant
under Section 6.

     "Stock Grant" means shares of Common Stock awarded to a Participant under
Section 7.

     "Stock Option" or "Option" means an option to purchase shares of Common
Stock awarded to a Participant under Section 5.

10. MISCELLANEOUS

(a) NO RIGHT TO EMPLOYMENT. No person shall have any claim or right to be
granted an Award. Neither the Plan nor any Award hereunder shall be deemed to
give any employee the right to continued employment or to limit the right of the
Company to discharge any employee at any time.

(b) NO RIGHTS AS STOCKHOLDER. Subject to the provisions of the applicable Award,
no Participant or Designated Beneficiary shall have any rights as a stockholder
with respect to any shares of Common Stock to be distributed under the Plan
until he or she becomes the holder thereof. A Participant to whom Common Stock
is awarded shall be considered the holder of the Stock at the time of the Award
except as otherwise provided in the applicable Award.

(c) EFFECTIVE DATE. The Plan shall be effective on October 16, 1997.

(d) AMENDMENT OF PLAN. The Board may amend, suspend or terminate the Plan or any
portion thereof at any time.

(e) GOVERNING LAW. The provisions of the Plan shall be governed by and
interpreted in accordance with the laws of Massachusetts.

                                       5

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