EXHIBIT 10.8 TERMS OF EMPLOYMENT AGREEMENT WITH LARRY DALESANDRO EFFECTIVE MAY 3, 2002 Should Lannett terminate your employment other than "for cause" (as defined below), you will be eligible for severance compensation in an amount to be determined by...Terms of Employment Agreement • September 25th, 2003 • Lannett Co Inc • Pharmaceutical preparations
Should Lannett terminate your employment other than "for cause" (as defined below), you will be eligible for severance compensation in an amount to be determined by Lannett, but not less than six (6) months of your base salary at the time of termination. You will also be eligible to continue your participation in the Company's medical benefit plans for six (6) months, at no cost to you. For purposes hereof, "for cause" is defined to include engaging in unethical business practices or conduct which creates a conflict of interest, fraud, malfeasance, criminal behavior, and willful conduct in violation of Lannett's Non-Harassment Policy or Corporate Handbook. If the Company is sold or a majority of the Company's ANDAs (Abbreviated New Drug Applications) are sold during your employment, and the Company or new organization terminates your employment, you will be eligible for severance compensation in an amount equal to one year of your current base salary at the time of termination. In this
EXHIBIT 10.7 TERMS OF EMPLOYMENT AGREEMENT WITH ARTHUR BEDROSIAN EFFECTIVE JANUARY 25, 2002 Your salary for this position (Vice President of Business Development) will be paid at the rate of $2,980.77 per pay period (which is equivalent to an annual...Employment Agreement • September 25th, 2003 • Lannett Co Inc • Pharmaceutical preparations
Your salary for this position (Vice President of Business Development) will be paid at the rate of $2,980.77 per pay period (which is equivalent to an annual base salary of $155,000 per year), in accordance with the weekly payment schedule now being used by the Company. At the end of each calendar year, the Board of Directors, or its designee, may, in their sole discretion, award you a bonus based upon your individual performance and the Company's performance during the immediately preceding calendar year.
EXHIBIT 10.6 TERMS OF EMPLOYMENT AGREEMENT WITH KEVIN SMITH EFFECTIVE JANUARY 4, 2002 Your salary for this position (Vice President of Sales and Marketing) will be paid at the rate of $2,980.77 per pay period (which is equivalent to an annual base...Employment Agreement • September 25th, 2003 • Lannett Co Inc • Pharmaceutical preparations
Your salary for this position (Vice President of Sales and Marketing) will be paid at the rate of $2,980.77 per pay period (which is equivalent to an annual base salary of $155,000 per year), in accordance with the weekly payment schedule now being used by the Company. At the end of each calendar year, the Board of Directors, or its designee, may, in their sole discretion, award you a bonus based upon your individual performance and the Company's performance during the immediately preceding calendar year.
