Document:

Form Director Non-Qualified Stock Option Award Agreement

 Exhibit 10.29 
 PHARMERICA CORPORATION 
 PharMerica Corporation 2007 Omnibus Incentive Plan 
 Directors’ Non-Qualified Stock Option Agreement 
 THIS NON-QUALIFIED STOCK OPTION AGREEMENT (the “Agreement”), granted under the PharMerica Corporation 2007 Omnibus Incentive Plan (the “Plan”), is effective as of
            , 20     and is entered into by and between PharMerica Corporation, a Delaware Corporation (the “Company”), and
                     (the “Optionee”). 
 Preliminary Statements 
 WHEREAS, the Optionee serves as a director on the Company’s
Board of Directors (the “Board”); 
 WHEREAS, the Company has determined that it is desirable and in its best interests to
grant to the Optionee an option to purchase a certain number of shares of the Company’s common stock (the “Stock”), in order to provide the Optionee with a significant equity interest in the Company so that the Optionee will have a
greater incentive to seek to increase the value of the Company’s Stock and so that the Optionee’s interests will be more closely aligned with those of the shareholders of the Company; and 
 WHEREAS, any capitalized term not herein defined shall have the meaning as set forth in the Plan 
 NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein: 
 1. Grant of Option. On the terms and conditions of this Agreement and the Plan, the Company hereby grants to the Optionee the right and
option (the “Option”) to purchase from the Company                  shares of Stock. This Option shall not constitute an incentive stock option within
the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). The date of grant of this Option is             , 2007 (the “Grant
Date”). 
 2. Price. The purchase price (the “Option Price”) for the shares of Stock subject to the Option
granted by this Agreement is $             per share, which is equal to the Fair Market Value of the Stock on the Grant Date. 
 3. Vesting of the Option. The Option granted pursuant to this Agreement shall vest and become exercisable in accordance with the following
provisions: 
 (a) Vesting of the Option. Provided that the Optionee continuously serves on the Board through the vesting period, the
Option shall vest and become exercisable in accordance with the following schedule: 
  

					
	 Vesting Date
	 	 No. of Shares Vested
	 	 Total Percentage of Option Vested

	1st Anniversary of Grant Date	 	_________	 	33 1/3%
	2nd Anniversary of Grant Date	 	_________	 	66 2/3%
	3rd Anniversary of Grant Date	 	_________	 	   100%

 There shall be no proportional vesting prior to any Vesting Date; all vesting shall occur only on the Vesting Date.

 (b) Acceleration of Vesting of the Option. The Option shall become fully vested and exercisable upon the occurrence of any of the
following events: 
 (i) the termination of the Optionee’s service with the Company by reason of the Optionee’s death or disability
(within the meaning of Section 22(e)(3) of the Code); 
 (ii) provided that the Optionee is not removed from the Board for
“Cause” (as defined in 3(c)(ii) below), (A) the Optionee is not nominated for re-election to the Board, or (B) the Optionee is nominated for re-election to the Board but is not so re-elected; and 
 (iii) a Change in Control. 
 (iv)
Notwithstanding the foregoing, the Committee, in its sole and absolute discretion, may accelerate all or any portion of the vesting of the Option at any time. 
 (c) Forfeiture of the Option. The Option shall be forfeited in accordance with the following provisions: 
 (i) The unvested portion of the Option shall automatically be forfeited (A) as of the date that the Optionee resigns from the Board, or (B) upon the date that the Optionee ceases to serve on the Board for any reason other than the
Optionee’s removal for “Cause” (as defined in 3(c)(ii) below). 
 (ii) The Option, whether or not vested, shall automatically
and immediately terminate as of the morning of the date that the Optionee ceases to serve on the Board due to the Optionee’s removal for “Cause” (such removal for Cause shall not be considered a voluntary resignation). For purposes
hereunder, Cause means: 
 (A) the continued failure by the Optionee to substantially perform the services expected of a director (other than
any such failure resulting from the 

  

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Optionee’s incapacity due to physical or mental illness or injury) over a period of not less than [thirty (30)] days after a demand for substantial
performance is delivered to the Optionee by the Chairman of the Board the chair of the Audit Committee, which demand identifies the manner in which it is believed that the Optionee has not substantially performed the services expected of the
Optionee; 
 (B) the willful misconduct of the Optionee that is materially and demonstrably injurious to the Company; provided that no act
or failure to act on the Optionee’s part will be considered willful if done, or omitted to be done, by the Optionee in good faith and with reasonable belief that the action or omission was in the best interest of the Company; 
 (C) the commission by or indictment of the Optionee for a misdemeanor, which constitutes a crime of moral turpitude and gives rise to material harm to
the Company; or 
 (D) the commission by or indictment of the Optionee for a felony (including, without limitation, any felony constituting
a crime of moral turpitude). 
 4. Exercise of the Option. Except as otherwise provided herein, the Option granted pursuant to
this Agreement shall be exercisable as follows: 
 (a) Exercise by the Optionee. Only the Optionee receiving the Option (or, in the
event of the Optionee’s legal incapacity or incompetency, the Optionee’s guardian or legal representative and in the case of the Optionee’s death, the Optionee’s estate) may exercise the Option. 
 (b) Option Term. Any non-forfeited portion of the Option shall be exercisable until the date it terminates. The Option shall no longer be
exercisable and shall terminate upon the earliest to occur of: 
 (i) the seven (7) year anniversary of the Grant Date; 
 (ii) the date that is the one (1) year anniversary of the day of termination of the Optionee’s service with the Company on account of death or
disability (within the meaning of Section 22(e)(3) of the Code); 
 (iii) the date that is ninety (90) days after the day that the
Optionee’s service on the Board is terminated for any reason other than in the event the Optionee is removed from service for Cause (as defined in 3(c)(ii) above); or 
 (iv) the morning of the day that the Optionee is removed from service for Cause (as defined in 3(c)(ii) above). 
 (c) Method of Exercise of Option. The Optionee (or the Optionee’s representative) may exercise the Option in whole or in part, at any time to
the extent it is then exercisable, by giving written notice to the Company, which notice shall include the number of shares of Stock for which it is being exercised and the form of payment. The Optionee may 

  

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exercise the Option by making payment of the aggregate Option Price for the portion of the Option being exercised, and of any associated withholding tax
obligations, in any of the following manners: (a) in cash (including by wire transfer or by a personal check backed by sufficient funds); (b) by surrendering and attesting to ownership of vested and nonforfeitable securities of the class
then subject to the option with an aggregate Fair Market Value on the date of exercise equal to total amount owed; (c) by electing to receive securities of the class then subject to the option having a Fair Market Value, as of the date of
exercise, equal to the excess, if any, of (i) the Fair Market Value on the date of exercise of the securities subject to your exercise over (ii) the sum of the aggregate Option Price, and the applicable tax withholding amounts, for such
exercise; (d) in any other manner previously approved by the Board or the Committee; or (e) through any combination of the foregoing. Securities purchased by the Optionee, by exercising the Option, shall be delivered to the Optionee as
promptly as reasonably practicable after the exercise. However, if applicable, no such election to use shares of Stock for the payment of withholding taxes shall be effective unless made in compliance with any applicable requirements under Rule
16b-3(e) under the Securities Exchange Act of 1934, or any successor rule, to the extent applicable. 
 5. Rights as
Stockholder. Neither the Optionee nor any executor or administrator of the Optionee’s estate shall be, or have any of the rights or privileges of, a stockholder of the Company in respect of any shares of Stock transferable
hereunder unless and until such shares have been fully paid and the Optionee (or of such personal representative or administrator of the Optionee’s estate) has been entered as the stockholder of record on the books of the Company. 

6. Withholding of Taxes. To the extent that the Company is obligated to withhold any federal, state or local income taxes in
connection with the exercise of the Option or in connection with a disposition of any shares of Stock acquired by exercise of the Option, then the Optionee agrees that the Company may withhold amounts needed to cover such taxes from payments
otherwise due and owing to the Optionee, and also agrees that upon demand the Optionee will promptly pay to the Company any additional amounts as may be necessary to satisfy such withholding tax obligation. Such payment shall be made in any manner
set forth in Section 4(c) above. 
 7. Effect of Changes in Capitalization or Change in Control. 
 (a) Changes in Stock. If the outstanding shares of Stock are increased or decreased or changed into or exchanged for a different number or kind of
shares or other securities of the Company by reason of any recapitalization, reclassification, stock split, reverse split, combination of shares, exchange of shares, stock dividend or other distribution payable in capital stock, or other increase or
decrease in such shares effected without receipt of consideration by the Company occurring after the date the Option is granted, then, in the Board’s discretion, a proportionate and appropriate adjustment may be made by the Board in the number
and kind of shares subject to the Option, so that the proportionate interest of the Optionee immediately following such event shall, to the extent practicable, be the same as immediately prior to such event. Any such adjustment in the Option shall
not change the total Option Price with respect to shares subject to the unexercised portion of the Option but shall include a corresponding proportionate adjustment in the Option Price per share. In the event of any distribution to the
Company’s stockholders of securities of any other entity or other assets (other 

  

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than dividends payable in cash or stock of the Company) without receipt of consideration by the Company, the Board shall, in such manner as it deems
appropriate, adjust (i) the number and kind of shares subject to the Option and/or (ii) the Grant Price of the Option to reflect such distribution. 
 (b) Reorganization in Which the Company Is the Surviving Company. Subject to 7(c) below, if the Company shall be the surviving Company in any reorganization, merger, or consolidation of the Company with one or
more other companies or other entities, the Option shall pertain to and apply to the securities to which a holder of the number of shares of Stock subject to the Option would have been entitled immediately following such reorganization, merger, or
consolidation, with a corresponding proportionate adjustment of the Option Price per share so that the aggregate Option Price thereafter shall be the same as the aggregate Option Price of the shares remaining subject to the Option immediately before
such reorganization, merger, or consolidation. 
 (c) Change in Control. In the
event of a Change in Control, the Board may (i) make provisions in connection with such transaction for the continuation of the Option; (ii) reach an agreement with the acquiring or surviving entity that the acquiring or surviving entity
will assume the obligation of the Company under the Option; (iii) reach an agreement with the acquiring or surviving entity that the acquiring or surviving entity will convert the Option into an option of at least equal value, determined as of
the date of the transaction, to purchase stock of the acquiring or surviving entity; (iv) terminate the Option effective upon the date of the applicable transaction and either make, within sixty (60) days after the date of the applicable
transaction, a cash payment to the Optionee equal to the difference between the Grant Price of the Option and the Fair Market Value, as of the date of the applicable transaction, of the shares of Stock subject to the Option or give the Optionee the
right to exercise, in whole or in part, the vested portion of the Option for thirty (30) days immediately before the occurrence of such termination; or (v) accelerate the expiration of the Option to a date not earlier than the fifteenth
(15th) day after the date of the applicable transaction; provided, however, that the Board determines that any such modification does not have a
substantial adverse economic impact on the Optionee as determined at the time of such modification. 
 8. General
Restrictions. The Company shall not be required to sell or issue any shares of Stock under the Option if the sale or issuance of such shares would constitute a violation by the individual exercising the Option or by the Company of any
provision of any law or regulation of any governmental authority, including without limitation any federal or state securities laws or regulations. If at any time the Company shall determine, in its discretion, that the listing, registration, or
qualification of any shares subject to the Option upon any securities exchange or under any state or federal law, or the consent or approval of any government regulatory body, is necessary or desirable as a condition of, or in connection with, the
issuance or purchase of shares, the Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable to the Company, and
any delay caused thereby shall in no way affect the date of termination of the Option. Specifically in connection with the Securities Act of 1933 (as now in effect or as hereafter amended), unless a registration statement under such Act is in effect
with respect to the shares of Stock covered by the Option, the Company shall not be required to sell or issue such shares unless the Company has received evidence satisfactory to it 

  

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that the holder of the Option may acquire such shares pursuant to an exemption from registration under such Act. Any determination in this connection by the
Company shall be final, binding, and conclusive. The Company may, but shall in no event be obligated to, register any securities covered hereby pursuant to the Securities Act of 1933 (as now in effect or as hereafter amended). The Company shall not
be obligated to take any affirmative action in order to cause the exercise of the Option or the issuance of shares pursuant thereto to comply with any law or regulation of any governmental authority. As to any jurisdiction that expressly imposes the
requirement that the Option shall not be exercisable unless and until the shares of Stock covered by the Option are registered or are subject to an available exemption from registration, the exercise of the Option (under circumstances in which the
laws of such jurisdiction apply) shall be deemed conditioned upon the effectiveness of such registration or the availability of such an exemption. 
 9. Restrictions On Transfer. Other than by will or under the laws of descent and distribution, the Optionee shall not have the right to make or permit to occur any transfer, pledge or hypothecation of all or any portion of any
unvested portion of the Option, whether outright or as security, with or without consideration, voluntary or involuntary. Any such transfer, pledge or hypothecation not made in accordance with this Agreement shall be deemed null and void.

 10. Interpretation of this Agreement. All decisions and interpretations made by the Committee with regard to any question
arising under this Agreement shall be final, binding and conclusive on the Company and the Optionee and any other person entitled to receive the benefits of the Option as provided for herein. 
 11. Governing Law. The validity, interpretation and enforcement of this Agreement are governed in all respects by the laws of the State of
Delaware, without giving effect to its conflict of laws principles, and by the laws of the United States of America. 
 12. Binding
Effect. Subject to all restrictions provided for in this Agreement and by applicable law relating to assignment and transfer of this Agreement and the Option provided for herein, this Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective heirs, executors, administrators, successors, and assigns. 
 13. Notice. Any notice
hereunder by the Optionee to the Company shall be in writing and shall be deemed duly given if mailed or delivered to the Company at its principal office, addressed to the attention of the Board, or if so mailed or delivered to such other address as
the Company may hereafter designate by notice to the Optionee. Any notice hereunder by the Company to the Optionee shall be in writing and shall be deemed duly given if mailed or delivered to the Optionee at the address specified below by the
Optionee for such purpose, or if so mailed or delivered to such other address as the Optionee may hereafter designate by written notice given to the Company. 
 14. Severability. In the event that any one or more of the provisions or portion thereof contained in this Agreement shall for any reason be held to be invalid, illegal or unenforceable in any respect,
the same shall not invalidate or otherwise affect any other provisions of this Agreement, and this Agreement shall be construed as if the invalid, illegal or unenforceable provision or portion thereof had never been contained herein. 
  

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 15. Entire Agreement. This Agreement constitutes the entire agreement and supersedes all
prior understandings and agreements written or oral, of the parties hereto with respect to the subject matter hereof. There is no representation or statement made by any party on which another party has relied which is not included in this
Agreement. Neither this Agreement nor any term hereof may be amended, waived, discharged, or terminated except by a written instrument signed by the Company and the Optionee; provided, however, that the Company unilaterally may waive any provision
hereof in writing to the extent that such waiver does not adversely affect the interests of the Optionee hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the same provision or a waiver of any other
provision hereof. 
  

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 IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement, or caused
this Agreement to be duly executed and delivered on his or its behalf, as of the day and year first above written. 
  

					
	PHARMERICA CORPORATION	 	
			
	BY:	 	  
	 	
			
	DATE:	 	  
	 	
		
	OPTIONEE	 	
		
	  
	 	
			
	DATE:	 	  
	 	
		
	OPTIONEE’S ADDRESS:Form of Substitution NQSO Agreement for AmerisourceBergen 2001 Grants

 Exhibit 10.30 
 PHARMERICA CORPORATION 
 PharMerica Corporation 2007 Omnibus Incentive Plan 
 Substitution Non-Qualified Stock Option Agreement 
 THIS SUBSTITUTION NON-QUALIFIED STOCK OPTION AGREEMENT (the “Agreement”), granted under the PharMerica Corporation 2007 Omnibus Incentive Plan (the “Plan”), is effective as of
            , 20    , and is entered into by and between PharMerica Corporation, a Delaware Corporation (the “Company”), and
                                        
(the “Optionee”). 
 Preliminary Statements 
 WHEREAS, the Optionee was formerly an employee of AmeriSourceBergen Corporation (“AmeriSource”) who was granted an option to purchase
             shares of AmeriSource common stock with an exercise price of $             on
            ,          (the “Americsource Option”) under The AmeriSource Health Corporation 2001 Stock Option Plan;

 WHEREAS, in connection with the merger of Americsource with and into the Company, the Company has determined that it is desirable
and in its best interests to substitute the Americsource Option with an option to purchase shares of the Company’s Stock (the “Stock”) in such manner that the substitution shall not be considered a new option grant or a modified
option under Section 424 or the Code; and 
 WHEREAS, any capitalized term not herein defined shall have the meaning as set forth
in the Plan. 
 NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein: 
 1. Grant of Option. On the terms and conditions of this Agreement and the Plan, the Company hereby grants to the Optionee the right and
option (the “Option”) to purchase from the Company              shares of Stock. This Option shall not constitute an incentive stock option within the meaning of
Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). The date of grant of this Option is             , 200     (the
“Grant Date”). The Optionee acknowledges and agrees that this Option is a substitution for the Americsource Option and that effective as of the Grant Date, the Optionee shall have no rights under the Americsource Option. 
 The Optionee’s right, if any, to continue to be employed by the Company will not be enlarged or otherwise affected by the receipt of this Option,
and the receipt of this Option will not in any way restrict the right of the Company to terminate the Optionee’s employment at any time. 
 2. Price. The purchase price (the “Option Price”) for the shares of Stock subject to the Option granted by this Agreement is $             per share.

 3. Vesting of the Option. The Option granted pursuant to this Agreement shall vest and
become exercisable in accordance with the following provisions: 
 (a) Vesting of the Option. Provided that the Optionee remains in the
continuous employment of the Company through the vesting period, the Option shall vest and become exercisable in accordance with the following schedule: 
  

					
	 Vesting Date
	  	 No. of Shares Vested
	  	 Total Percentage of Option Vested

		  	__________	  	25%
		  	__________	  	50%
		  	__________	  	75%
		  	__________	  	100%

 There shall be no proportional vesting prior to any Vesting Date; all vesting shall occur only on the Vesting
Date. 
 (b) Acceleration of Vesting of the Option. The Option shall become fully vested and exercisable in the event of a Change in
Control. Notwithstanding the foregoing, the Committee, in its sole and absolute discretion, may accelerate all or any portion of the vesting of the Option at any time. 
 (c) Forfeiture of the Option. The unvested portion of the Option shall automatically be forfeited upon the date that the Optionee ceases to be employed by the Company for any reason. 
 4. Exercise of the Option. Except as otherwise provided herein, the Option granted pursuant to this Agreement shall be exercisable as
follows: 
 (a) Exercise by the Optionee. Only the Optionee receiving the Option (or, in the event of the Optionee’s legal
incapacity or incompetency, the Optionee’s guardian or legal representative and in the case of the Optionee’s death, the Optionee’s estate) may exercise the Option. 
 (b) Option Term. Any non-forfeited portion of the Option shall be exercisable until the date it terminates. The Option shall no longer be
exercisable and shall terminate upon the earliest to occur of: 
 (i) the expiration of the 90-day period after the Optionee’s
termination of employment with the Company, if the termination is for any reason other than disability (within the meaning of Section 22(e)(3) of the Code), death or Cause; 
  

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 (ii) the expiration of the one-year period after the Optionee’s termination of employment from the
Company on account of the Optionee’s disability (within the meaning of Section 22(e)(3) of the Code); 
 (iii) the expiration of
the one-year period after the Optionee’s termination of employment, if the Optionee dies while employed by the Company; 
 (iv) the
date on which the Optionee’s employment is terminated for Cause; 
 (v) the tenth anniversary of the Grant Date. 
 (c) Definition of Cause. Cause means: 
 (i) any willful, material violation of any law or regulation applicable to the business of the Company; 
 (ii) conviction for, or
guilty plea to, a felony or a crime involving moral turpitude, or any willful perpetration of a common law fraud; 
 (iii) commission of any
act of personal dishonesty which involves personal profit in connection with the Company; 
 (iv) intentional wrongful disclosure of
confidential information of the Company; 
 (v) intentional wrongful engagement in any competitive activity, 
 (vi) the willful and continued failure or refusal to perform the material duties required of the Optionee as an employee, officer, director or
consultant of the Company (other than as a result of disability); 
 (vii) disregard of the policies of the Company so as to cause material
loss, damage or injury to the property, reputation or employees of the Company; 
 (viii) ongoing alcohol/drug addiction and a failure by
the Optionee to successfully complete a recovery program, or 
 (ix) any other misconduct by the Optionee which is materially injurious to
the financial condition or business reputation of, or is otherwise materially injurious to, the Company. 
 5. Exercise
Procedure. Vested portions of the Option may be exercised, in whole 

  

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or in part, by delivery to the Company’s principal office of a written notice of exercise, to the attention of the Corporate Secretary, no less than
three (3) business days in advance of the effective date of the proposed exercise (the “Exercise Date”), setting forth the number of shares of Common Stock with respect to which the Option is to be exercised, the Grant Date of the
Option and the Exercise Date and accompanied by full payment of the exercise price and all applicable withholding taxes. Applicable withholding taxes shall be calculated based on the excess of the Fair Market Value of the shares of Common Stock over
the exercise price as of the Exercise Date. 
 6. Construction of Agreement. Any provision of this Agreement (or portion
thereof) which is deemed invalid, illegal or unenforceable in any jurisdiction shall, as to that jurisdiction and subject to this section, be ineffective to the extent of such invalidity, illegality or unenforceability, without affecting in any way
the remaining provisions thereof in such jurisdiction or rendering that or any other provisions of this Agreement invalid, illegal, or unenforceable in any other jurisdiction. No waiver of any provision or violation of this Agreement by the Company
shall be implied by the Company’s forbearance or failure to take action. 
 7. Delays or Omissions. No delay or omission
to exercise any right, power or remedy accruing to any party hereto upon any breach or default of any party under this Agreement, shall impair any such right, power or remedy of such party nor shall it be construed to be a waiver of any such breach
or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any
waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party or any provisions or conditions of this Agreement, shall be in writing and
shall be effective only to the extent specifically set forth in such writing. 
 8. Limitation on Transfer. The Option shall
not be assignable or transferable other than by will or by the laws of descent and distribution and in accordance with the Plan. 
 9.
Integration. This Agreement, and the other documents referred to herein or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. There are no restrictions,
agreements, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein and in the Plan. This Agreement, including without limitation the Plan, supersedes all
prior agreements and understandings between the parties with respect to its subject matter. 
 10. Counterparts. This Agreement
may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 
  

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 11. Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware without regard to the provisions governing conflict of laws. 
 12. Optionee
Acknowledgment. The Optionee hereby acknowledges receipt of a copy of the Plan. The Optionee hereby acknowledges that all decisions, determinations and interpretations of the Committee in respect of the Plan, this Agreement and the Option
shall be final and conclusive. 
  

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 IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement, or caused
this Agreement to be duly executed and delivered on his or its behalf, as of the day and year first above written. 
  

					
	PHARMERICA CORPORATION	 	
			
	BY:	 	  
	 	
			
	DATE:	 	  
	 	
		
	OPTIONEE	 	
		
	  
	 	
			
	DATE:	 	  
	 	
		
	OPTIONEE’S ADDRESS:

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