Document:

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                                                                   EXHIBIT 10.25

                          GENENCOR INTERNATIONAL, INC.

                             SECURED PROMISSORY NOTE

$_______________                                           Palo Alto, California
                                                           ___________ ___, 2000

               FOR VALUE RECEIVED, the undersigned, ________________, an
individual ("Borrower"), promises to pay to Genencor International, Inc., a
Delaware corporation ("Lender") the principal amount of ____________________
dollars ($__________), with interest from the date hereof on the unpaid
principal balance under this Note at the rate of 6.71% per annum (on the basis
of a 365-day year and the actual number of days elapsed). The unpaid principal
balance of this Note, together with accrued and unpaid interest thereon (the
"Unpaid Balance") shall be due and payable in twelve-month installments over
four years, commencing on the eighteen-month anniversary of the date the
Company's Common Stock first becomes registered under the Securities Act of 1933
(the "Public Trading Date"), with the amount of each such installment to be the
excess of (i) the amount determined by dividing the Unpaid Balance by the number
of remaining installments over (ii) any "Prepayment Amount" (as defined below)
made within the twelve-month period preceding the date such installment is due.

               Notwithstanding the foregoing, the entire Unpaid Balance shall be
due and payable upon the earlier of (i) the occurrence of an event described in
Section 18(a) of the Plan, (subject to Section 18(d) of the Plan) or (ii) sixty
days following Borrower's termination of employment with the Company for any
reason.

               All payments under this Note shall be made to Lender, in lawful
money of the United States of America and in immediately available funds
delivered to Lender at the offices of Lender at its then principal place of
business or at such other place as Lender shall designate in writing for such
purpose from time to time. If a payment under this Note otherwise would become
due and payable on a Saturday, Sunday or legal holiday, the due date thereof
shall be extended to the next day which is not a Saturday, Sunday or legal
holiday, and interest shall be payable thereon during such extension. All
amounts due under this Note and the Pledge Agreement (as defined below) shall be
payable without defense, set off or counterclaim of the Borrower.

               Each payment under this Note shall be applied in the following
order: (i) to the payment of costs and expenses provided for under this Note or
the Pledge Agreement; (ii) to the payment of accrued and unpaid interest; and
(iii) to the payment of outstanding principal. Lender shall have the continuing
and exclusive right to apply or reverse and reapply any and all payments under
this Note.

               This Note may be prepaid in whole or in part at any time. Any
such prepayment shall be referred to hereafter as a "Prepayment Amount." Any
Prepayment Amount shall be without premium or penalty except that interest shall
be paid to the date of payment on the principal amount prepaid. Any partial
principal Prepayment Amount under this Note shall be applied against the
installments of principal due under this Note, with no change in the required

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principal amount of the installments due under this Note prior to those
installments prepaid in whole or in part. Interest, however, shall be computed
on the principal balance due after deducting the principal portion of such
Prepayment Amount.

               Upon the occurrence of a default under this Note or the Pledge
Agreement, including, without limitation, failure to make any principal or
interest payment by the stated maturity for such payment, interest shall
thereafter accrue on the entire unpaid principal balance under this Note,
including without limitation any delinquent interest which has been added to the
principal amount due under this Note pursuant to the terms hereof, at the rate
set forth herein plus one percent (1%) per annum (on the basis of a 365-day year
and the actual number of days elapsed). In addition, upon the occurrence of a
default under this Note or the Pledge Agreement the Lender may, at its option,
without notice to or demand upon Borrower or any other party, declare
immediately due and payable the entire principal balance hereof together with
all accrued and unpaid interest thereon, plus any other amounts then owing
pursuant to this Note or the Pledge Agreement, whereupon the same shall be
immediately due and payable. On each anniversary of the date of any default
under this Note and while such default is continuing, all interest which has
become payable and is then delinquent shall, without curing the default under
this Note by reason of such delinquency, be added to the principal amount due
under this Note, and shall thereafter bear interest at the same rate as is
applicable to principal, with interest on overdue interest to bear interest both
before and after default, maturity, foreclosure, judgment and the filing of any
petition in a bankruptcy proceeding. In no event shall interest be charged under
this Note which would violate any applicable law.

        Notwithstanding anything to the contrary contained in this Note,
Borrower hereby agrees that Lender, in enforcing its rights and remedies
hereunder and under any other documents and instruments executed by Borrower in
connection herewith, shall have recourse to, and the right to proceed against,
Borrower and any of his assets for any obligation, covenant or agreement of any
kind whatsoever, in an amount equal to the Recourse Portion of the Note. The
Borrower shall have no personal liability for the Non-Recourse Portion of the
Note, and the Non-Recourse Portion of the Note shall be enforceable against the
Borrower only to the extent of the Borrower's interest in the Pledged Stock (as
such term is defined in that certain Genencor International, Inc. Pledge
Agreement, dated as of _____________, 2000, by and between Borrower and Lender
(as amended from time to time, the "Pledge Agreement"). The "Recourse Portion"
of this Note shall mean an amount equal to fifty percent (50%) of the initial
principal amount of this Note, plus interest accrued on such principal amount,
less any payments of accrued and unpaid interest on the Recourse Portion of this
Note, and any payment and prepayment of outstanding principal of the Recourse
Portion of this Note. The "Non-Recourse Portion" of this Note shall mean an
amount equal to fifty percent (50%) of the initial principal amount of this
Note, plus interest accrued on such principal amount, less payments of accrued
and unpaid interest on the Non-Recourse portion of this Note, and any payments
and prepayments of outstanding principal of the Non-Recourse Portion of this
Note. Except as otherwise provided herein, any and all payments of accrued and
unpaid interest, and payments and prepayments of outstanding principal, made by
Borrower shall, unless otherwise designated in writing by Borrower, be deemed to
apply first and

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entirely to the payment of any sums due under the Recourse Portion of this Note,
and then to any other amounts due under this Note.

        Upon the occurrence of a default under this Note or the Pledge
Agreement, including, without limitation, failure to make any principal or
interest payment by the stated maturity for such payment, the Lender may, at its
option, apply any and all amounts realized upon foreclosure on the Pledged Stock
first and entirely to the payment of costs and expenses provided for under this
Note and the Pledge Agreement and to repay any then outstanding principal and
accrued and unpaid interest on the Recourse Portion of this Note, and then to
any other amounts due under this Note.

               This Note is secured under the Pledge Agreement, and reference is
hereby made to the Pledge Agreement for a description of the nature and extent
of the security for this Note and the rights with respect to such security of
the Lender. Nothing herein shall be deemed to limit the rights of Lender under
this Note or the Pledge Agreement, all of which rights and remedies are
cumulative.

               No waiver or modification of any of the terms of this Note shall
be valid or binding unless set forth in a writing specifically referring to this
Note and signed by a duly authorized officer of Lender, and then only to the
extent specifically set forth therein.

               If any default occurs in any payment due under this Note,
Borrower and all guarantors and endorsers hereof, and their successors and
assigns, promise to pay all costs and expenses, including attorneys' fees,
incurred by Lender in collecting or attempting to collect the indebtedness under
this Note, whether or not any action or proceeding is commenced. None of the
provisions hereof and none of Lender's rights or remedies under this Note on
account of any past or future defaults shall be deemed to have been waived by
Lender's acceptance of any past due installments or by any indulgence granted by
the Lender to Borrower.

               Borrower and all guarantors and endorsers hereof, and their
successors and assigns, hereby waive presentment, demand, diligence, protest and
notice of every kind (except such notices as may be required under the Pledge
Agreement), and agree that they shall remain liable for all amounts due under
this Note notwithstanding any extension of time or change in the terms of
payment of this Note granted by Lender, any change, alteration or release of any
property now or hereafter securing the payment hereof or any delay or failure by
Lender to exercise any rights under this Note or the Pledge Agreement. Borrower
and all guarantors and endorsers hereof, and their successors and assigns,
hereby waive the right to plead any and all statutes of limitation as a defense
to a demand under this Note to the full extent permitted by law.

               This Note shall not be transferred, assigned, pledged or
hypothecated in any manner to any person other than Lender except by operation
of law or upon Borrower's written consent.

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               In the event that any one or more provisions of this Note shall
be held to be illegal, invalid or otherwise unenforceable, the same shall not
affect any other provision of this Note and the remaining provisions of this
Note shall remain in full force and effect.

               This Note shall be governed by and construed in accordance with
the laws of the State of Delaware, without giving effect to the principles
thereof relating to conflicts of law; provided, that Lender reserves any and all
rights it may have under federal law, including without limitation those
relating to the charging of interest.

               IN WITNESS WHEREOF, Borrower has caused this Note to be duly
executed the day and year first above written.

                                     By:
                                        -------------------------------------
                                            Name:
                                                 ----------------------------
                                            Title:
                                                  ---------------------------

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                                                                   EXHIBIT 10.26

                          GENENCOR INTERNATIONAL, INC.

                                PLEDGE AGREEMENT

        THIS PLEDGE AGREEMENT is made and entered into as of ______________,
2000 by ____________________ (the "Pledgor"), in favor of Genencor
International, Inc. (the "Secured Party").

                                    RECITALS

        A. The Pledgor and the Secured Party have entered into that certain
Genencor International, Inc. Secured Promissory Note, dated as of
______________, 2000 (as amended, modified and supplemented to date, the
"Promissory Note"). All capitalized terms used herein which are not otherwise
defined herein shall have the meanings ascribed to them in the Promissory Note.

        B. The Pledgor is the owner of ___________ shares of common stock (the
"Pledged Stock") of the Secured Party.

        C. As a condition to advancing funds to the Pledgor under the Promissory
Note, the Secured Party has required that the Pledgor grant to the Secured Party
a security interest in the Pledged Stock as security for the obligations of the
Pledgor under the Promissory Note and any documents executed in connection
therewith (collectively, the "Loan Documents").

                                    AGREEMENT

                NOW, THEREFORE, in consideration of the premises and in order to
induce the Secured Party to advance funds to the Pledgor, the Pledgor hereby
agrees with the Secured Party and grants as follows:

                1. PLEDGE. The Pledgor hereby pledges and grants to the Secured
Party a security interest in the following collateral (the "Pledged
Collateral"):

                        (a) the Pledged Stock and the certificates representing
        the Pledged Stock, and all dividends, cash, instruments, chattel paper
        and other rights, property or proceeds from time to time received,
        receivable or otherwise distributed in respect of or in exchange for any
        or all of the Pledged Stock; and

                        (b) all proceeds of the foregoing.

                2. SECURITY FOR PERFORMANCE. This Pledge Agreement (and all of
the Pledged Collateral) secures the payment of the principal of and the interest
on the advances made under the Promissory Note and the performance of the
Pledgor's obligations pursuant to this Agreement and the other Loan Documents
(the "Obligations").

                3. DELIVERY OF PLEDGED COLLATERAL. All certificates or
instruments representing or evidencing the Pledged Collateral shall be delivered
to and held by the Secured Party pursuant

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hereto and shall be accompanied by duly executed instruments of transfer or
assignment in blank, all in form and substance satisfactory to the Secured
Party. The Secured Party shall have the right, at any time in its discretion and
without notice to Pledgor following the occurrence of an Event of Default, to
transfer to or to register in the name of the Secured Party or any of its
nominees any or all of the Pledged Collateral. In addition, the Secured Party
shall have the right at any time to exchange certificates or instruments
representing or evidencing Pledged Collateral for certificates or instruments of
smaller or larger denominations.

                4. REPRESENTATIONS AND WARRANTIES. Pledgor represents and
warrants as follows:

                        (a) The delivery of the Pledged Stock to the Secured
        Party pursuant to this Pledge Agreement creates a valid and perfected
        first priority security interest in the Pledged Collateral (other than
        cash not in the possession of the Secured Party), securing the payment
        of the principle of and the interest on advances made under the
        Promissory Note and the performance of Pledgor's obligations pursuant to
        this Agreement and the other Loan Documents.

                        (b) No consent of any other party (including, without
        limitation, any creditor of the Pledgor) and no governmental approval is
        required either (i) for the pledge by the Pledgor of the Pledged
        Collateral pursuant to this Pledge Agreement or for the execution,
        delivery or performance of this Pledge Agreement by Pledgor or (ii) for
        the exercise by the Secured Party of the voting or other rights provided
        for in this Pledge Agreement or the remedies in respect of the Pledged
        Collateral pursuant to this Pledge Agreement (except as may be required
        in connection with such disposition by laws affecting the offering and
        sale of securities generally).

                5. FURTHER ASSURANCES. The Pledgor agrees that at any time and
from time to time the Pledgor will promptly execute and deliver all further
instruments and documents, and take all further action, that may be necessary or
desirable or that the Secured Party may request, in order to perfect and protect
any security interest granted or purported to be granted hereby or to enable the
Secured Party to exercise and enforce its rights and remedies hereunder with
respect to any Pledged Collateral and to carry out the provisions and purposes
hereof.

                6. ADMINISTRATION OF SECURITY. The following provisions shall
govern the administration of the Pledged Collateral:

                        (a) So long as no Event of Default shall have occurred:

                                (i) The Pledgor shall be entitled to exercise
                any and all voting and other consensual rights pertaining to the
                Pledged Collateral or any part thereof for any purpose not
                inconsistent with the terms of this Pledge Agreement or the
                Promissory Note; provided, however, that the Pledgor shall not
                exercise or shall refrain from exercising any such right if, in
                the Secured Party's sole judgment, such action or inaction would
                have a material adverse effect on the value of the Pledged
                Collateral or any part thereof; and provided, further, that the
                Pledgor shall give the Secured

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                Party at least thirty (30) days' written notice of the manner in
                which he intends to exercise, and the reasons therefor, or the
                reasons for refraining from exercising, any such right.

                                (ii) The Pledgor shall be entitled to receive
                all cash dividends and other cash distributions paid or payable
                with respect to any of the Pledged Collateral; provided,
                however, that any such dividends or other distributions shall
                first be applied by Pledgor toward the payment of the then
                unpaid principal balance (and interest thereon) under the
                Promissory Note. Any and all instruments and other property
                (other than cash or checks) received, receivable or otherwise
                distributed in respect of, or in exchange for, any Pledged
                Collateral, shall be delivered to the Secured Party to hold as
                Pledged Collateral and shall, if received by the Pledgor, be
                received in trust for the benefit of the Secured Party, be
                segregated from the other property or funds of Pledgor, and be
                forthwith delivered to the Secured Party as Pledged Collateral
                in the same form as so received (with any necessary
                endorsement).

                        (b) Upon the occurrence of an Event of Default:

                                (i) All rights of the Pledgor to exercise the
                voting and other consensual rights which he would otherwise be
                entitled to exercise pursuant to Section 6(a)(i) and to receive
                the dividends which he would otherwise be authorized to receive
                and retain pursuant to Section 6(a)(ii) shall cease, and all
                such rights shall, upon notice by the Secured Party to the
                Pledgor, become vested in the Secured Party who shall thereupon
                have the sole right to exercise such voting and other consensual
                rights and the sole right to receive and hold as Pledged
                Collateral such dividends (and to the extent permissible, apply
                them to the Obligations of Pledgor).

                                (ii) All dividends which are received by the
                Pledgor contrary to the provisions of paragraph (i) of this
                Section 6(b) shall be received in trust for the benefit of the
                Secured Party, shall be segregated from other funds of the
                Pledgor and shall be forthwith paid over to the Secured Party as
                Pledged Collateral in the same form as so received (with any
                necessary endorsement).

                7. TRANSFERS AND OTHER LIENS; ADDITIONAL SHARES. The Pledgor
agrees that he will not, except as permitted by this Pledge Agreement or the
Promissory Note: (i) sell or otherwise dispose of, or grant any option with
respect to, any of the Pledged Collateral or (ii) enter into any other
contractual obligations which may restrict or inhibit the Secured Party's rights
or ability to sell or otherwise dispose of the Pledged Collateral or any part
thereof after the occurrence of an Event of Default.

                8. THE SECURED PARTY APPOINTED ATTORNEY-IN-FACT. The Pledgor
hereby appoints the Secured Party the Pledgor's attorney-in-fact effective upon
the occurrence of an Event of Default, with full authority in the place and
stead of the Pledgor and in the name of the Pledgor or otherwise, from time to
time in the Secured Party's discretion to take any action and to execute any
instrument which the Secured Party may deem necessary or advisable to accomplish
the purposes of this Pledge Agreement, including, without limitation, to
receive,

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endorse and collect all instruments made payable to Pledgor
representing any dividend or other distribution in respect of the Pledged
Collateral or any part thereof.

                9. THE SECURED PARTY'S DUTIES; REASONABLE CARE. The powers
conferred on the Secured Party hereunder are solely to protect its interest in
the Pledged Collateral and shall not impose any duty on it to exercise any such
powers. Except for the safe custody of any Pledged Collateral in its possession
and the accounting for monies actually received by it hereunder, the Secured
Party shall have no duty as to any Pledged Collateral. The Secured Party shall
be deemed to have exercised reasonable care in the custody and preservation of
the Pledged Collateral in its possession if the Pledged Collateral is accorded
treatment that is not materially less protective than that which the Secured
Party accords its own property, it being expressly agreed that the Secured Party
shall have no responsibility for (i) ascertaining or taking action with respect
to calls, conversions, exchanges, maturities, tenders or other matters relative
to any Pledged Collateral, whether or not the Secured Party has or is deemed to
have knowledge of such matters, or (ii) taking any necessary steps to preserve
rights against any parties with respect to any Pledged Collateral, but the
Secured Party may do so at its option and all expenses incurred in connection
therewith shall be payable by and for the sole account of the Secured Party.

                10.DEFAULTS. The occurrence of any one or more of the following
events or conditions shall constitute an Event of Default under this Agreement:

                        (a) Failure to Perform. The Pledgor fails to make any
        principal or interest payment required pursuant to the Promissory Note,
        this Pledge Agreement or any other Loan Documents and fails to cure such
        default within the grace period provided in the applicable Loan
        Document.

                        (b) Representations and Warranties. The Pledgor makes or
        has made or furnishes or has furnished, any material written warranty,
        representation or statement to the Secured Party in connection with this
        Agreement or any of the other Loan Documents which is or was false or
        misleading when made or furnished.

                        (c) Additional Liens; Attachment. Any lien or
        encumbrance other than that created by this Pledge Agreement is placed
        on, or any levy is made on the Collateral, or any portion thereof; or
        the Collateral, or any portion thereof, is seized or attached pursuant
        to legal process, and such lien, encumbrance, levy, seizure, or
        attachment is not removed or released within sixty (60) days from the
        time such lien or encumbrance was placed thereon or such levy, seizure
        or attachment was effected; provided, however, that neither the
        imposition of any lien, encumbrance or levy on the Collateral, nor the
        seizure of the Collateral, shall constitute an Event of Default under
        this Pledge Agreement unless such imposition or seizure occurs as a
        direct result of actions taken by the Pledgor.

                        (d) Voluntary Bankruptcy. The Pledgor commences or
        proposes to commence any bankruptcy, reorganization or insolvency
        proceeding, or other proceeding under any federal, state or other law
        for the relief of debtors;

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                        (e) Involuntary Bankruptcy. The Pledgor fails to obtain
        dismissal, within ninety (90) days after commencement thereof, of any
        bankruptcy, insolvency, or reorganization proceeding or other proceeding
        for relief under any bankruptcy law, including, without limitation, the
        Federal Bankruptcy Code, or any law for the relief of debtors,
        instituted against the Pledgor by one or more third parties, fails to
        oppose actively such proceeding, or, in any such proceeding defaults or
        files an answer admitting the material allegations upon which the
        proceeding was based, or alleges its willingness to have an order for
        relief entered or its desire to seek liquidation, reorganization or
        adjustment of its debts; and

                        (f) Receiver Appointed. Any receiver, trustee or
        custodian is appointed by a court of competent jurisdiction to take
        possession of all or any substantial portion of the assets of Pledgor.

                11.REMEDIES UPON DEFAULT. If any Event of Default shall have
occurred:

                        (a) The Secured Party may exercise in respect of the
        Pledged Collateral, in addition to other rights and remedies provided
        for herein or otherwise available to it, all the rights and remedies of
        a secured party under the applicable state Uniform Commercial Code in
        effect at that time, and the Secured Party may also, without notice
        except as specified below, sell the Pledged Collateral or any part
        thereof in one or more parcels at public or private sale, at any
        exchange, broker's board or at any of the Secured Party's offices or
        elsewhere, for cash, on credit or for future delivery, and upon such
        other terms as the Secured Party may deem commercially reasonable. The
        Pledgor acknowledges and agrees that any such private sale may result in
        prices and other terms less favorable to the seller than if such sale
        were a public sale. The Pledgor agrees that, to the extent notice of
        sale shall be required by law, at least ten (10) days' notice to the
        Pledgor of the time and place of any public sale or the time after which
        any private sale is to be made shall constitute reasonable notification.
        The Secured Party shall not be obligated to make any sale of Pledged
        Collateral regardless of notice of sale having been given. The Secured
        Party may adjourn any public or private sale from time to time by
        announcement at the time and place fixed therefor, and such sale may,
        without further notice, be made at the time and place to which it was so
        adjourned.

                        (b) Any cash held by the Secured Party as Pledged
        Collateral and all cash proceeds received by the Secured Party in
        respect of any sale of, collection from, or other realization upon all
        or any part of the Pledged Collateral may, in the discretion of the
        Secured Party, be held by the Secured Party as collateral for, and/or
        then or at any time thereafter applied in whole or in part by the
        Secured Party for its benefit against, all or any part of the
        Obligations of the Pledgor pursuant to the Note or this Agreement. Any
        surplus of such cash or cash proceeds held by the Secured Party and
        remaining after payment in full of all the Obligations shall be paid
        over to the Pledgor or to whomsoever may be lawfully entitled to receive
        such surplus or as a court of competent jurisdiction may direct;
        provided, that in the event that all of the conditions to the
        termination of this Pledge Agreement pursuant to Section 13 shall not
        have been fulfilled, such balance shall

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        be held and applied from time to time as provided in this subsection
        11(b) until all such conditions shall have been fulfilled.

                12.REMEDIES CUMULATIVE. Each right, power and remedy of the
Secured Party provided in this Pledge Agreement or now or hereafter existing at
law or in equity or by statute or otherwise shall be cumulative and concurrent
and shall be in addition to every other right, power or remedy provided for in
this Pledge Agreement or now or hereafter existing at law or in equity or by
statute or otherwise. The exercise or partial exercise by the Secured Party of
any one or more of such rights, powers or remedies shall not preclude the
simultaneous or later exercise by the Secured Party of all such other rights,
powers or remedies, and no failure or delay on the part of the Secured Party to
exercise any such right, power or remedy shall operate as a waiver thereof.

                13.RELEASE; TERMINATION.

                        (a) So long as no Event of Default shall have occurred
        and the requirements of payment set forth in the Promissory Note are
        satisfied, the Pledgor may sell or dispose of any Pledged Collateral, if
        such sale or disposition is not prohibited by any terms or conditions of
        this Pledge Agreement, the Promissory Note or any other agreement
        including, without limitation that certain Restricted Stock Purchase
        Agreement between the Pledgor and the Secured Party relating to the
        Pledged Collateral (the "Restricted Stock Purchase Agreement"). The
        Secured Party shall upon request of the Pledgor execute and deliver to
        the Pledgor a release or releases in form reasonably satisfactory to the
        Secured Party to release the lien of this Pledge Agreement with respect
        to such Pledged Collateral and assign, transfer and deliver such Pledged
        Collateral to the Pledgor. Such releases and assignments shall be
        without warranty by or recourse to the Secured Party, except as to the
        absence of any prior assignments by the Secured Party of its interest in
        the Pledged Collateral, and shall be at the expense of the Pledgor.

                        (b) This Pledge Agreement shall terminate upon full and
        complete payment in full of all Obligations on the Promissory Note and
        the other Loan Documents. The Secured Party, at the time of such
        termination and at its expense, will execute and deliver to the Pledgor
        a proper instrument or instruments acknowledging the termination of this
        Pledge Agreement, and will duly assign, transfer and deliver to the
        Pledgor such of the Pledged Collateral as has not yet theretofore been
        sold or otherwise applied or released pursuant to this Pledge Agreement,
        together with any moneys at the time held by the Secured Party
        hereunder, subject to any other agreement including, without limitation,
        the Restricted Stock Purchase Agreement. Such assignment and delivery
        shall be without warranty by or recourse to the Secured Party, except as
        to the absence of any prior assignments by the Secured Party of its
        interest in the Pledged Collateral.

                14.CONTINUING SECURITY INTEREST. This Pledge Agreement shall
create a continuing security interest in the Pledged Collateral and shall (i)
remain in full force and effect until terminated pursuant to Section 13(b), (ii)
be binding upon the Pledgor and its heirs, successors and assigns, and (iii)
inure, together with the rights and remedies of the Secured Party hereunder, to
the benefit of the Secured Party, its successors, transferees and assigns.

<PAGE>   7

                15.WAIVER. To the fullest extent he may lawfully so agree, the
Pledgor agrees that he will not at any time insist upon, claim, plead, or take
any benefit or advantage of any appraisement, valuation, stay, extension,
moratorium, redemption or similar law now or hereafter in force in order to
prevent, delay, or hinder the enforcement hereof or the absolute sale of any
part of the Pledged Collateral; the Pledgor for itself and all who claim through
him, so far as he or they now or hereafter lawfully may do so, hereby waive the
benefit of all such laws, and all right to have the Pledged Collateral marshaled
upon any foreclosure hereof, and agree that any court having jurisdiction to
foreclose this Pledge Agreement may order the sale of the Pledged Collateral as
an entirety.

                16. REINSTATEMENT. This Pledge Agreement shall continue to be
effective or be reinstated, as the case may be, if at any time any amount
received by the Secured Party in respect of Pledgor's Obligations pursuant to
the Promissory Note and the other Loan Documents is rescinded or must otherwise
be restored or returned by the Secured Party upon the insolvency, bankruptcy,
dissolution, liquidation or reorganization of the Pledgor or upon the
appointment of any intervenor or conservator of, or trustee or similar official
for, the Pledgor or any substantial part of its assets, or otherwise, all as
though such payments had not been made.

                17.SEVERABILITY. The provisions of this Pledge Agreement are
severable, and if any clause or provision shall be held invalid or unenforceable
in whole or in part in any jurisdiction, then such invalidity or
unenforceability shall affect only such clause or provision, or part thereof, in
such jurisdiction and shall not in any manner affect such clause or provision in
any other jurisdiction, or any other clause or provision of this Pledge
Agreement in any jurisdiction.

                18.SURVIVAL OF PROVISIONS. All representations, warranties and
covenants of the Pledgor contained herein shall survive the execution and
delivery of this Pledge Agreement, and shall terminate only upon the full and
final payment and performance by the Pledgor of its indebtedness and obligations
secured hereby.

                19.COUNTERPARTS. This Pledge Agreement may be executed in one or
more counterparts, each of which shall be deemed an original but all of which
shall together constitute one and the same agreement.

                20.GOVERNING LAW. This Pledge Agreement shall be construed in
accordance with and all disputes hereunder shall be governed by the laws of the
State of Delaware, without regard to principles of conflicts of laws.

                21.GENDER. As used throughout this Pledge Agreement, references
to the masculine gender shall be deemed to include references to the feminine,
unless the context clearly indicates otherwise.

                22.AMENDMENTS. This Agreement may be amended, modified or
supplemented only by a written instrument signed by the Pledgor and the Secured
Party.

<PAGE>   8

                IN WITNESS WHEREOF, the parties hereto have caused this Pledge
Agreement to be duly executed and delivered as of the date first above written.

                                            By:
                                               ---------------------------------
                                               Name
                                                    ----------------------------
                                               Title:
                                                     ---------------------------

                                            GENENCOR INTERNATIONAL, INC.

                                            By:
                                               ---------------------------------
                                               Name
                                                    ----------------------------
                                               Title:
                                                     ---------------------------

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