EXHIBIT 10.18 14 May 1990 Dr. Anand Baichwal 3801 Cherry Hill Drive Poughkeepsie, NY 12603 Re: Recognition and Incentive Agreement Dear Dr. Baichwal, In your work to date with our Company, you have made a substantial contribution in being an inventor...Recognition and Incentive Agreement • November 10th, 1997 • Penwest Pharmaceuticals Co • Pharmaceutical preparations • New York
