September 20, 2010Option Agreement • September 22nd, 2010 • Alkaloida Chemical CO Exclusive Group Ltd. • Pharmaceutical preparations
This letter agreement sets forth the actions taken by, and the agreements entered among, the parties hereto pursuant to which they are (a) consummating the transactions contemplated by the Option Letter Agreement dated May 18, 2007 (the “Option Agreement”), among The Taro Development Corporation (“TDC”), Barrie Levitt, Tal Levitt, Daniel Moros, Jacob Levitt and Alkaloida Chemical Company Exclusive Group Ltd. (“Alkaloida”) (together with (i) the Assignment and Assumption Agreement, dated as of June 24, 2008, pursuant to which Sun Pharmaceutical Industries Ltd. (“Sun”) assigned to Alkaloida its rights, and Alkaloida assumed Sun’s obligations, under the Option Agreement and (ii) the Assignment and Assumption Agreement, dated as of August 29, 2008, pursuant to which Alkaloida assigned its rights under and with respect to the TDC Option under Paragraph (1)(a) of the Option Agreement, and all
