October 16, 2006 Steven Halladay, Ph.D. 3260 Whipple Road Union City, California 94587 RE: Change-in-Control Dear Steven:Change-in-Control Agreement • October 18th, 2006 • Questcor Pharmaceuticals Inc • Pharmaceutical preparations • California
This letter agreement (this “Agreement”) is entered into pursuant to that certain offer letter (the “Offer Letter”) dated October 13, 2006, between you and Questcor Pharmaceuticals, Inc., a California corporation (“Questcor”). Questcor considers it essential to the best interests of its shareholders to foster the continuous employment of key management personnel. In connection with this, Questcor’s Board of Directors (the “Board”) recognizes that, as is the case with many publicly held corporations, the possibility of a change in control of Questcor may exist and that the uncertainty and questions that it may raise among management could result in the departure or distraction of management personnel to the detriment of Questcor and its shareholders.
August 1, 2006 Eric Liebler 3260 Whipple Road Union City, California 94587 RE: Change-in-Control Dear Eric:Change-in-Control Agreement • October 18th, 2006 • Questcor Pharmaceuticals Inc • Pharmaceutical preparations • California
This letter agreement (this “Agreement”) is entered into pursuant to that certain offer letter (the “Offer Letter”) dated August 1, 2006, between you and Questcor Pharmaceuticals, Inc., a California corporation (“Questcor”). Questcor considers it essential to the best interests of its stockholders to foster the continuous employment of key management personnel. In connection with this, Questcor’s Board of Directors (the “Board”) recognizes that, as is the case with many publicly held corporations, the possibility of a change in control of Questcor may exist and that the uncertainty and questions that it may raise among management could result in the departure or distraction of management personnel to the detriment of Questcor and its stockholders.
October 16, 2006 Steven Halladay, Ph.D. 3260 Whipple Road Union City, California 94587 RE: Severance Agreement Dear Steven:Severance Agreement • October 18th, 2006 • Questcor Pharmaceuticals Inc • Pharmaceutical preparations
In addition to the terms and conditions of your employment with Questcor Pharmaceuticals, Inc. (the “Company”) which are set forth in your Offer Letter dated October 13, 2006, and Change-in-Control Agreement dated October 16, 2006, which are incorporated herein, the Company agrees to provide you severance in the event that the following conditions are met.
August 1, 2006 Eric Liebler 3260 Whipple Road Union City, California 94587 RE: Severance Agreement Dear Eric:Severance Agreement • October 18th, 2006 • Questcor Pharmaceuticals Inc • Pharmaceutical preparations
In addition to the terms and conditions of your employment with Questcor Pharmaceuticals, Inc. (the “Company”) which are set forth in your Offer Letter dated August 1, 2006, and Change-in-Control Agreement dated August 1, 2006, which are incorporated herein, the Company agrees to provide you severance in the event that the following conditions are met.
