Exhibit 10.20(c)(5) KENDLE INTERNATIONAL INC. Non-Qualified Stock Option Agreement 1. KENDLE INTERNATIONAL INC. hereby grants to the Optionee named below a Non-Qualified option to purchase, in accordance with and subject to the terms and restrictions...Non-Qualified Stock Option Agreement • May 10th, 2005 • Kendle International Inc • Services-commercial physical & biological research
