Exhibit 10.1
*Confidential Treatment Requested Under
17 C.F.R. §§ 200.80(b)(4) and 240.24b-2
FIFTH AMENDMENT TO
OEM AGREEMENT
     This Fifth Amendment to OEM Agreement, (“Amendment”) is made and entered
into as of November 28, 2006 (“Amendment Date”), by and between Akorn-Strides,
LLC, a Delaware limited liability company, having a principal place of business
at 2500 Millbrook Drive, Buffalo Grove, Illinois 60089-4694, United States of
America (“A-S”), and Strides Arcolab Limited, a company organized under the laws
of India having a principal place of business at Strides House, Bilekahalli,
Bannerghatta Road, Bangalore 560 076, India (“Strides”), (each a “Party” and
collectively the “Parties”).
RECITALS
     A. A-S and Strides are parties to that certain OEM Agreement dated
September 22, 2004 (“Agreement”) and desire to amend the Agreement to revise the
ANDA Schedule, pursuant to the terms and conditions of this Amendment.
     B. A-S and Strides desire to further amend the Agreement to provide for the
payment to Strides of the additional amount of [...*...] United States Dollars
[...*...] as additional Registration Costs for the development of additional
Products.
NOW, THEREFORE, in consideration of the mutual promises contained herein and
other valuable consideration, the sufficiency of which is hereby acknowledged,
the Parties agree as follows:
1. Definitions. All capitalized terms used herein shall have the same meanings
set forth in the Agreement, unless otherwise defined in this Amendment.
2. Modification of ANDA Schedule. Exhibit B of the Agreement is deleted in its
entirety and replaced with Exhibit B-1 attached hereto and fully incorporated
herein.
3. Adption of Additional ANDA Schedule. Exhibit B-2, attached hereto and fully
incorporated herein, is added to the Agreement as its new Exhibit B-2. Exhibit A
of the Agreement is additionally hereby modified as required to include all
products set forth in Exhibit B-2, each of which shall be henceforth deemed a
“Product” under the Agreement.
4. Abandonment of [...*...]. The Parties acknowledge that A-S had previously
paid an additional [...*...] Dollars [...*...] to Strides as additional
Registration Costs for [...*...]. The Parties further acknowledge and agree that
the [...*...] project is hereby abandoned and that the [...*...] Dollars
[...*...] received from A-S as additional Registration Costs therefor shall be
reallocated fully to Registration Costs set forth on Exhibit B-1.
5. Funding of Registration Costs. Section 2.3.2 of the Agreement is deleted in
its entirety and replaced with the following:

  2.3.2   Since the total Registration Costs set forth on Exhibit B-1 exceeds
the Registration Costs paid to date by A-S by [...*...] Dollars [...*...] (when
adding

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* CONFIDENTIAL TREATMENT REQUESTED – This language has been omitted and filed
separately with the Securities and Exchange Commission.

 

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*Confidential Treatment Requested Under
17 C.F.R. §§ 200.80(b)(4) and 240.24b-2

      the re-allocation of Registration Costs for [...*...] to the Registration
Costs set forth in Section 2.3.1 of the Agreement), A-S shall make the
additional payment of [...*...] Dollars [...*...] to Strides at such time that
Strides and Akorn, Inc. (“Akorn”) make an additional capital contribution for
such purpose under Section 3.2 of the Limited Liability Company Agreement for
Akorn-Strides, LLC between Strides and Akorn (“Company Agreement”). In addition,
pursuant to and upon the date of the additional capital contributions for such
purpose made by A-S’ members under Section 3.2 of the Company Agreement, A-S
shall pay Strides the additional amount of [...*...] United States Dollars
[...*...] as a further payment for additional Registration Costs associated with
Registrations for the Products set forth on Exhibit B-2 (“Additional Products”).
All such further amounts paid under this Section 2.3.2 shall be paid upon the
payment schedule to be mutually determined by the Parties and shall be deemed
part of the Registration Payment when made. Strides shall file ANDAs for the
Additional Products by the dates set forth on Exhibit B-2.

6. Counterparts. This Amendment may be executed in several counterparts that
together shall be originals and constitute one and the same instrument.
7. Effect. Except as modified above, the Agreement shall remain in full force
and effect in accordance with its specific terms.
IN WITNESS WHEREOF, the parties hereto, through their duly authorized officers,
have executed this Amendment as of the Amendment Date.

               
Akorn-Strides, LLC
  Strides Arcolab Limited
 
 
By:
  /s/ Arthur S. Przybyl   By:   /s/ Arun Kumar
 
           
 
           
Name:
  Arthur S. Przybyl   Name:   Arun Kumar
 
           
 
           
Its:
  Member Manager   Its:   Executive Vice Chairman & MD
 
           

           

           

           

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* CONFIDENTIAL TREATMENT REQUESTED — This language has been omitted and filed
separately with the Securities and Exchange Commission.

 

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*Confidential Treatment Requested Under
17 C.F.R. §§ 200.80(b)(4) and 240.24b-2
EXHIBIT B-1
ANDA SCHEDULE

                            Sl.               Dossier Cost         No.   Product
Name   Strength       (USD)   Remarks   Status of Dossier  
 
                       
1
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
2
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
3
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
4
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
5
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
6
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
7
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
8
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
9
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
10
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
11
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
 
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
12
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
 
              [...*...]   [...*...]    
13
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
14
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
15
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
16
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
 
              [...*...]   [...*...]    
17
  [...*...]   [...*...]       [...*...]   [...*...]   Semi-exclusive **  
18
  [...*...]           [...*...]   [...*...]   Exclusive
19
  [...*...]   [...*...]       [...*...]   [...*...]   Exclusive
 
            TOTAL [...*...]        

* CONFIDENTIAL TREATMENT REQUESTED — This language has been omitted and filed
separately with the Securities and Exchange Commission.

 

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*Confidential Treatment Requested Under
17 C.F.R. §§ 200.80(b)(4) and 240.24b-2
The above billing includes:
          (i) Addtitional development of [...*...]
          (ii) Additional batches of [...*...]
          (iii) Additional batches of [...*...]

** Notwithstanding the terms of this Agreement to the contrary, the Parties
acknowledge that [...*...] only may be sold by Strides in the Territory in the
Exclusive Market to one other entity only in addition to A-S.

* CONFIDENTIAL TREATMENT REQUESTED — This language has been omitted and filed
separately with the Securities and Exchange Commission.

 

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*Confidential Treatment Requested Under
17 C.F.R. §§ 200.80(b)(4) and 240.24b-2
EXHIBIT B-2
ADDITIONAL ANDA SCHEDULE

                                    Sl.               Dossier Cost            
No.   Product Name   Strength       (USD)   Remarks   ANDA Filing   Status of
Dossier      
 
                           
1
  [...*...]   [...*...]       [...*...]   [...*...]   [...*...]   Exclusive
2
  [...*...]   [...*...]       [...*...]       [...*...]   Exclusive
 
      [...*...]                    
3
  [...*...]   [...*...]       [...*...]       [...*...]   Exclusive
 
      [...*...]                    
4
  [...*...]   [...*...]       [...*...]   [...*...]   [...*...]   Exclusive
5
  [...*...]   [...*...]       [...*...]   [...*...]   [...*...]   Exclusive
 
      [...*...]                    
6
  [...*...]   [...*...]       [...*...]       [...*...]   Exclusive
7
  [...*...]   [...*...]       [...*...]       [...*...]   Exclusive
 
      [...*...]                    
8
  [...*...]   [...*...]       [...*...]   [...*...]   [...*...]   Exclusive
 
      [...*...]                    
9
  [...*...]   [...*...]       [...*...]   [...*...]   [...*...]   Exclusive
 
      [...*...]                    
 
      [...*...]                    
10
      [...*...]                    
 
      [...*...]                    
 
      [...*...]               [...*...]   Exclusive
 
          TOTAL   [...*...]            

* CONFIDENTIAL TREATMENT REQUESTED — This language has been omitted and filed
separately with the Securities and Exchange Commission.

 

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*Confidential Treatment Requested Under
17 C.F.R. §§ 200.80(b)(4) and 240.24b-2
RLDs to be supplied by A-S: The above costs are not inclusive of RLDs. Timelines
indicated are based on best efforts and any changes will be discussed between
the two Parties and, upon mutual agreement by the Parties, will not invoke any
penalty clauses

* CONFIDENTIAL TREATMENT REQUESTED — This language has been omitted and filed
separately with the Securities and Exchange Commission.