Document:

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                                                                    EXHIBIT 10.4

                          NORTHFIELD LABORATORIES INC.

                           STOCK OPTION GRANT LETTER

            Pursuant to terms of the Northfield Laboratories Inc. Stock Option
Plan for New Employees (the "Plan"), this letter will evidence the award by
Northfield Laboratories Inc. (the "Company") to ____________________ (the
"Recipient") of an option (the "Option") to purchase up to ______________ shares
(the "Option Shares") of the Company's Common Stock, par value $.01 per share,
at an exercise price of $________ per share.

            The Option will in all respects be governed by and construed in
accordance with the terms and conditions of the Plan, as it is currently in
effect and as it may be amended in the future from time to time, which terms and
conditions are incorporated herein by reference and made a part hereof. The
Recipient hereby acknowledges receipt of a copy of the Plan as in effect as of
the date of this letter.

            In addition to the terms and conditions of the Plan, the Option
awarded hereby will be subject to the following terms and conditions:

            1. The Option will be deemed to be a Non-Qualified Stock Option as
      defined under the Plan.

            2. Except as otherwise expressly provided herein, the Option may be
      exercised by the Recipient in whole or in part at any time and from time
      to time during the period com- mencing as of the first anniversary of the
      date of this letter and ending on the tenth anniversary of the date of
      this letter.

            3. The Option will be subject to the following vesting requirements.
      As of the first anniversary of the date of this letter and provided that
      the Recipient continues as of such date to be employed by the Company as a
      officer or employee, the Option will be deemed vested and immediately
      exercisable as to 25% of the Option Shares. As of the second anniversary
      of the date of this letter and provided that the Recipient continues as of
      such date to be employed by the Company as an officer or employee, the
      Option will be deemed vested and immediately exercisable as to 50% of the
      Option Shares. As of the third anniversary of the date of this letter and
      provided that the Recipient continues as of such date to be employed by
      the Company as an officer or employee, the Option will be deemed vested
      and immediately exercisable as to 75% of the Option Shares. As of the
      fourth anniversary of the date of this letter and provided that the
      Recipient continues as of such date to be employed by the Company as a n
      officer or employee, the Option will be deemed vested and immediately
      exercisable as to 100% of the Option Shares.

            4. Unless otherwise determined by at least two-thirds of the
      individuals who, as of the date of this letter, constitute the Board of
      Directors of the Company (the "Incumbent Board"), vesting of the
      Recipient's right to exercise the Option as provided in paragraph 3 will
      accelerate upon the occurrence of a Change in Control of the Company. For
      this purpose, a "Change in Control" will mean a change in control of a
      nature that would be required to be reported in response to Item 1(a) of
      the Current Report on Form 8-K, as in effect as of the date of this
      Agreement, promulgated pursuant to Section 13 or 15(d) of the Securities
      Exchange Act of 1934, as amended (the "Securities Exchange Act"), whether
      or

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      not the Company is then subject to the reporting requirements of the
      Securities Exchange Act; provided that, without limitation, such a change
      in control will be deemed to have occurred if (a) there is consummated any
      sale, lease, exchange or other transfer (in one transaction or a series of
      related transactions) of all or substantially all of the Company's assets,
      (b) the stockholders of the Company approve any plan or proposal of
      liquidation or dissolution of the Company, (c) there is consummated any
      consolidation or merger of the Company in which the Company is not the
      surviving or continuing corporation, or pursuant to which shares of the
      Company's Common Stock would be converted into cash, securities or other
      property, other than a merger of the Company in which the holders of the
      Company's Common Stock immediately prior to the merger have, directly or
      indirectly, at least an 80% ownership interest in the outstanding Common
      Stock of the surviving corporation immediately after the merger, (d) any
      "person" or "group" (as such terms are used in Section 13(d) and 14(d) of
      the Securities Exchange Act) becomes the "beneficial owner" (as defined
      in Rule 13d-3 under the Securities Exchange Act), directly or indirectly,
      of securities of the Company representing 30% or more of the combined
      voting power of the Company's then outstanding voting securities
      ordinarily having the right to vote for the election of directors (unless
      such acquisition of beneficial ownership is approved by a majority of the
      Incumbent Board) or (e) individuals who, as of the date of this Agreement,
      constitute the Incumbent Board cease for any reason to constitute a
      majority of the Board of Directors of the Company. Any individual becoming
      a director subsequent to the date of this letter whose election, or
      nomination for election by the Company's stockholders, was approved by a
      vote of at least three-quarters of the directors comprising the Incumbent
      Board (other than an election or nomination of an individual whose initial
      assumption of office is in connection with an actual or threatened
      election contest relating to the directors of the Company, as such terms
      are used in Rule 14a-11 of Regulation 14A promulgated under the Securities
      Exchange Act) will be, for purposes hereof, considered as though such
      individual was a member of the Incumbent Board. Nothwithstanding the
      foregoing, a public or private sale or issuance of equity securities, or
      securities exercisable or exchangeable for or convertible into equity
      securities, of the Company for its own account or for the account of any
      holder of the Company's equity securities as of the date hereof will not
      result in a "change in control" for purposes of this letter if such sale
      or issuance is approved by at least three-quarters of the directors
      comprising the Incumbent Board.

            5. The Recipient will have no right to acquire any shares of the
      Company's Common Stock pursuant to the Option except to the extent that
      the Recipient's rights under the Option have deemed to have vested as
      provided herein. The rights of the Recipient with respect to the unvested
      portion of the Option will terminate in all respects as of the date the
      Recipient's employment by the Company as an officer or employee ceases for
      any reason, and no further vesting will occur after such date.

            6. If the Recipient's employment by the Company as a officer or
      employee ceases as the result of the Recipient's death or Disability, then
      the vested portion of the Option will thereafter be exercisable by the
      Recipient, or his or her executor or other legal representative, for a
      period of one year.

            7. If the employment of the Recipient by the Company as an officer
      or employee is terminated by the Company other than for Cause, then the
      vested portion of the Option will thereafter be exercisable by the
      Recipient for a period of 90 days.

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            8. If the employment of the Recipient by the Company as an officer
      or employee ceases for any other reason, then the Option will be deemed to
      have terminated and the Recipient will have no further rights thereunder.

            9. Any portion of the Option not exercised prior to the expiration
      of the periods described in paragraphs 6 and 7 will be deemed forfeited by
      the Recipient.

            10. For purposes hereof, "Cause" for the termination of the
      Recipient's employment with the Company as an officer or employee will be
      deemed to exist if the Recipient has been convicted of a felony or if the
      Board of Directors of the Company determines that the Recipient has (a)
      intentionally and continually failed to perform in all material respects
      the Recipient's reasonably assigned duties with the Company (other than a
      failure resulting from the Recipient's Disability) which failure has
      continued for a period of at least 30 days after a written notice of
      demand for performance has been delivered to the Recipient specifying the
      manner in which the Recipient has failed in all material respects to so
      perform or (b) intentionally engaged in conduct which is demonstrably and
      materially injurious to the Company. For purposes hereof, "Disability"
      means a physical or mental disability or illness which substantially
      impairs the Recipient's ability to perform his or her regular duties with
      the Company for a period in excess of 180 consecutive days or for a period
      in excess of 270 days in any 365-day period.

            11. Notwithstanding any provision herein to the contrary, the
      Recipient may not offer, sell or otherwise dispose of any Option Shares in
      a way which would (a) require the Company to file any registration
      statement with the Securities and Exchange Commission (or any similar
      filing under state law) or to amend or supplement any such filing or (b)
      violate or cause the Company to violate the Securities Act of 1933, as
      amended, the rules and regulations promulgated thereunder or any other
      state or federal law.

            Any questions regarding this letter or the terms and conditions of
the Plan may be directed to Jack J. Kogut, the Company's Sr. Vice President -
Finance, Secretary and Treasurer.

DATED:                                       NORTHFIELD LABORATORIES INC.
      ---------------------

                                             BY
                                               ---------------------------------

                                        3<PAGE>

                                                                   EXHIBIT 10.10

                        FIRST LOAN MODIFICATION AGREEMENT

      This First Loan Modification Agreement is entered into as of November 13,
2004, by and between ODIMO INCORPORATED., a corporation organized and in good
standing in the State of Delaware ("Company"), ASHFORD.COM, INC., a corporation
organized and in good standing in the State Delaware and D.I.A. MARKETING, INC.,
a corporation organized and in good standing in the State of Florida (together
with the Company individually and collectively "Borrower"), each of whose
address is 14001 NW 4th St., Sunrise, Florida 33325, and Silicon Valley Bank
("Lender") whose address is 3003 Tasman Drive, Santa Clara, California 95054 and
having a loan production office at 3353 Peachtree Road, NE, M-10, Atlanta,
Georgia 30326.

1. DESCRIPTION OF EXISTING INDEBTEDNESS: Among other indebtedness which may be
owing by Borrower to Lender, Borrower is indebted to Lender pursuant to, among
other documents, a Loan and Security Agreement, dated July 31, 2004, (as may be
amended from time to time, the "Loan Agreement"). The Loan Agreement provides
for, among other things, a Committed Line in the original principal amount of
Twelve Million Dollars ($12,000,000) (the "Revolving Facility"). Hereinafter,
all indebtedness owing by Borrower to Lender shall be referred to as the
"Indebtedness." All capitalized terms used in this Agreement but no otherwise
defined herein shall have the respective meaning given to such terms in the Loan
Agreement.

2. DESCRIPTION OF COLLATERAL AND GUARANTIES. Repayment of the Indebtedness is
secured by the Collateral as described in the Loan Agreement and an Intellectual
Property Security Agreement dated July 31, 2004. Additionally, repayment of the
Indebtedness is guaranteed by SOFTBANK CAPITAL ADVISORS FUND LP, SOFTBANK
CAPITAL LP, and SOFTBANK CAPITAL PARTNERS LP (collectively, the "Guarantor")
pursuant to Unconditional Guaranty Agreements dated July 31, 2004 (collectively,
the "Guaranty").

Hereinafter, the above-described security documents and guaranties, together
with all other documents securing repayment of the Indebtedness shall be
referred to as the "Security Documents". Hereinafter, the Security Documents,
together with all other documents evidencing or securing the Indebtedness shall
be referred to as the "Existing Loan Documents".

3. DESCRIPTION OF CHANGE IN TERMS. Borrower has requested and Lender has agreed
to amend the Loan Agreement as provided in this Agreement.

      (i) Section 2.1.1(a) of the Loan Agreement is hereby amended and restated
in its entirety as follows:

            (a) Bank will make Advances not exceeding (i) the lesser of (A) the
      Committed Revolving Line or (B) the Borrowing Base plus the Non Formula
      Amount, minus (ii) all amounts for services utilized under the Business
      Credit Card Services Sublimit and minus (iii) the amount of all
      outstanding Letters of Credit (including drawn but unreimbursed Letters of
      Credit). Amounts borrowed under this Section may be repaid and reborrowed
      during the term of this Agreement. All advances shall be evidenced by the
      Revolving Promissory Note and shall be repaid in accordance with the terms
      of this Agreement.

      (ii) The following definition in Section 13.1 of the Loan Agreement is
      amended and restated as follows:

            "COMMITTED REVOLVING LINE" means (a) from September 1st through
      December 31st of each year, Advances of up to Twelve Million Dollars
      ($12,000,000) and (b) from January 1st to August 31st of each year,
      Advances of up to Seven Million Dollars ($7,000,000); provided, however,
      that from and after the occurrence of Liquidity Event the "Committed
      Revolving Line" means (x) from September 1st through December 31st of each
      year, Advances up to Eight Million Dollars ($8,000,000) and (y) from
      January 1st through August 31st of each year, Advances of up to

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      Five Million Dollars ($5,000,000). Notwithstanding the above, from
      November 13, 2004 through December 31, 2004, the "Committed Revolving
      Line" means Fifteen Million Dollars ($15,000,000).

      (iii) The following definition is added to Section 13.1 of the Loan
      Agreement:

            "NON FORMULA AMOUNT" means (a) from November 13, 2004 through
      December 31, 2004, Three Million Dollars ($3,000,000) and (b) from and
      after January 1, 2004, Zero Dollars ($0.00).

4. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever
necessary to reflect the changes described above.

5. PAYMENT OF LOAN FEE. Borrower shall pay to Lender a fee in the amount of Five
Thousand Dollars ($5,000.00) (the "Loan Fee") plus all out-of-pocket expenses.

6. NO DEFENSES OF BORROWER. Borrower (and each guarantor and pledgor signing
below) agrees that it has no defenses against the obligations to pay any amounts
under the Indebtedness.

7. CONTINUING VALIDITY. Borrower (and each guarantor and pledgor signing below)
understands and agrees that in modifying the existing Indebtedness, Lender is
relying upon Borrower's representations, warranties, and agreements, as set
forth in the Existing Loan Documents. Except as expressly modified pursuant to
this Loan Modification Agreement, the terms of the Existing Loan Documents
remain unchanged and in full force and effect. Lender's agreement to
modifications to the existing Indebtedness pursuant to this Loan Modification
Agreement in no way shall obligate Lender to make any future modifications to
the Indebtedness. Nothing in this Loan Modification Agreement shall constitute a
satisfaction of the Indebtedness. It is the intention of Lender and Borrower to
retain as liable parties all makers and endorsers of Existing Loan Documents,
unless the party is expressly released by Lender in writing. No maker, endorser,
or guarantor will be released by virtue of this Loan Modification Agreement. The
terms of this paragraph apply not only to this Loan Modification Agreement, but
also to all subsequent loan modification agreements.

8. CONDITIONS. The effectiveness of this Loan Modification Agreement is
conditioned upon the following:

      1. Borrower's payment of the Loan Fee;

      2. Lender receives an Amended and Restated Revolving Promissory Note
issued and delivered by Borrower in the form of Exhibit A attached hereto and
incorporated herein by this reference payable to the order of Lender in the
maximum principal amount of Fifteen Million Dollars ($15,000,000) (which Amended
and Restated Revolving Promissory Note is sometimes referred to herein as the
"Replacement Promissory Note"); and

      3. Borrower's delivery to Lender of such other documents deemed necessary
by Lender.

9. REPLACEMENT PROMISSORY NOTE.

      (a) Borrower shall execute and deliver to Lender on the date hereof the
Replacement Promissory Note in substitution for and not satisfaction of, the
issued and outstanding Revolving Promissory Note and the Replacement Promissory
Note shall be the "Revolving Promissory Note" for all purposes of the Loan
Documents. The Replacement Promissory Note shall not operate as a novation of
the Obligations of Borrower, or nullify, discharge, or release any such
Obligations or the continuing contractual relationship of the Borrower in
accordance with the provisions of the Loan Documents. All references in the Loan
Documents to the "Revolving Promissory Note" shall be deemed to refer to the
Replacement Promissory Note.

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This Loan Modification Agreement is executed as of the date first written above.

BORROWER:

ODIMO INCORPORATED

By: /s/ Alan Lipton
    --------------------------------------
    Name: Alan Lipton
    Title: CEO

ASHFORD.COM, INC.

By: /s/ Alan Lipton
    --------------------------------------
    Name: Alan Lipton
    Title: President

D.I.A. MARKETING, INC.

By: /s/ Alan Lipton
    --------------------------------------
    Name: Alan Lipton
    Title: President

LENDER:

SILICON VALLEY BANK

By: /s/ Dale Kirkland
    ---------------------------------------
    Name: Dale Kirkland
    Title:

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