Bausch & Lomb Incorporated and Consolidated Subsidiaries - Page 20

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          facility in Waterford, Ireland, to be located in the Waterford              
          industrial estate in which B&L Ireland's contact lens facility              
          was located.  The IDA draft proposal was prepared in the format             
          set forth in the IDA's "Guide to the Submission of Industrial               
          Proposals".                                                                 
               On or about October 6, 1982, B&L Ireland and the IDA entered           
          into an agreement (IDA grant agreement) pursuant to which the IDA           
          agreed to provide B&L Ireland with (1) capital grants equal to 40           
          percent of B&L Ireland's (a) annual rent, (b) expenditures for              
          factory-building modifications, and (c) purchases or leases of              
          new machinery and equipment and (2) training grants equal to 100            
          percent of B&L Ireland's training costs.  In order to receive the           
          capital grants under the IDA agreement, B&L Ireland was required            
          to follow certain procedures, including filing an auditor's                 
          certificate to verify its actual capital expenditures.  It                  
          received capital and training grants from the IDA by submitting             
          the required documented claims for such grants.                             
               Contemporaneous with the IDA grant agreement, B&L Ireland              
          and the IDA entered into a lease and option agreement (unit 107             
          lease and option agreement) pursuant to which B&L Ireland leased            
          and was granted an option to purchase from the IDA unit 107 in              
          the Waterford industrial estate that had an approximate size of             
          6,700 square feet.  At the same time, but in a separate agree-              
          ment, the IDA also agreed to grant a rent subsidy to B&L Ireland            





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