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...Employment Agreement • October 25th, 2004 • 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 • October 25th, 2004 • 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 • October 25th, 2004 • 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.
EXHIBIT 10.9 AGREEMENT BETWEEN LANNETT COMPANY, INC. AND SIEGFRIED (USA), INC. DATED: October 31, 2002 Siegfried (USA), Inc. of 33 Industrial Park Road, Pennsville, NJ 08070 ("Seller") will sell and Lannett Company Inc. of Philadelphia, Pennsylvania...Lannett Co Inc • October 25th, 2004 • Pharmaceutical preparations • New Jersey
Siegfried (USA), Inc. of 33 Industrial Park Road, Pennsville, NJ 08070 ("Seller") will sell and Lannett Company Inc. of Philadelphia, Pennsylvania 19136 ("Buyer") will buy the Product on the terms and conditions contained herein. The terms of this Agreement and any signed addenda attached to this Agreement constitute the entire Agreement between the Seller and Buyer and supersede any existing sales contract relating to the Product. This Agreement must be signed and returned by Buyer within 30 days from the date first specified above and will not bind Seller unless signed by an authorized representative of Seller. The Agreement does not bind the Buyer unless it receives the Agreement signed by an authorized representative of the Seller on or before the date specified above. Subject to the terms and conditions of this Agreement, Seller shall sell to Buyer, and Buyer shall purchase exclusively from Seller, the Product
