QMed, Inc. 1st & 2nd QTR 2003 I, the undersigned, hereby waive any and all rights to my increased compensation as per my employment agreement for the 1st & 2nd quarter period 2003. /s/ Michael W. Cox 6/30/03 --------------------- ------------ Michael...

Exhibit 10.3


                                   QMed, Inc.
                               1st & 2nd QTR 2003




         I, the undersigned, hereby waive any and all rights to my
         increased compensation as per my employment agreement for the
         1st & 2nd quarter period 2003.


         /s/ Xxxxxxx X. Xxx                                     6/30/03
         ---------------------                                 ------------
         Xxxxxxx X. Xxx