Document:

EXHIBIT 4.3

CRITICAL CARE, INC.
2006 STOCK AWARD PLAN

1. PURPOSE. The purpose of the 2006 Stock Award Plan of Critical Care, Inc. is
to further align the interests of employees, directors and non-employee
Consultants with those of the shareholders by providing incentive compensation
opportunities tied to the performance of the Common Stock and by promoting
increased ownership of the Common Stock by such individuals. The Plan is also
intended to advance the interests of the Company and its shareholders by
attracting, retaining and motivating key personnel upon whose judgment,
initiative and effort the successful conduct of the Company's business is
largely dependent.

2. DEFINITIONS. Wherever the following capitalized terms are used in the Plan,
they shall have the meanings specified below:

"Affiliate" means (i) any entity that would be treated as an "affiliate" of the
Company for purposes of Rule 12b-2 under the Exchange Act and (ii) any joint
venture or other entity in which the Company has a direct or indirect beneficial
ownership interest representing at least one-third (1/3) of the aggregate voting
power of the equity interests of such entity or one-third (1/3) of the aggregate
fair market value of the equity interests of such entity, as determined by the
Committee.

"Award" means a Stock Award granted under the Plan.

"Award Agreement" means a written or electronic agreement entered into between
the Company and a Participant setting forth the terms and conditions of an Award
granted to a Participant.

"Board" means the Board of Directors of the Company.

"Code" means the Internal Revenue Code of 1986, as amended.

"Committee" means the Compensation Committee of the Board, or such other
committee of the Board appointed by the Board to administer the Plan, or if no
such committed exists, the entire Board.

"Common Stock" means the Company's common stock, $0.001 par value per share.

"Company" means Critical Care, Inc., a Nevada corporation.

"Consultant" means any person which is a consultant or advisor to the Company
and which is a natural person and who provides bona fide services to the Company
which are not in connection with the offer or sale of securities in a
capital-raising transaction for the Company, and do not directly or indirectly
promote or maintain a market for the Company's securities.

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"Date of Grant" means the date on which an Award under the Plan is made by the
Committee, or such later date as the Committee may specify to be the effective
date of an Award.

"Disability" means a Participant being considered "disabled" within the meaning
of Section 409A(a)(2)(C) of the Code, unless otherwise provided in an Award
Agreement.

"Eligible Person" means any person who is an employee of the Company or any
Affiliate or any person to whom an offer of employment with the Company or any
Affiliate is extended, as determined by the Committee, or any person who is a
Non-Employee Director, or any person who is Consultant to the Company.

"Exchange Act" means the Securities Exchange Act of 1934, as amended.

"Fair Market Value" means the mean between the highest and lowest reported sales
prices of the Common Stock on the New York Stock Exchange Composite Tape or, if
not listed on such exchange, on any other national securities exchange on which
the Company's common stock is listed or on The Nasdaq Stock Market, or, if not
so listed on any other national securities exchange or The Nasdaq Stock Market,
then the average of the bid price of the Company's common stock during the last
five trading days on the OTC Bulletin Board immediately preceding the last
trading day prior to the date with respect to which the Fair Market Value is to
be determined. If the Company's common stock is not then publicly traded, then
the Fair Market Value of the Common Stock shall be the book value of the Company
per share as determined on the last day of March, June, September, or December
in any year closest to the date when the determination is to be made. For the
purpose of determining book value hereunder, book value shall be determined by
adding as of the applicable date called for herein the capital, surplus, and
undivided profits of the Company, and after having deducted any reserves
theretofore established; the sum of these items shall be divided by the number
of shares of the Company's common stock outstanding as of said date, and the
quotient thus obtained shall represent the book value of each share of the
Company's common stock.

"Non-Employee Director" means any member of the Board who is not an employee of
the Company.

"Participant" means any Eligible Person who holds an outstanding Award under the
Plan.

"Plan" means Critical Care, Inc., 2006 Stock Award Plan as set forth herein, as
amended from time to time.

"Service" means a Participant's employment with the Company or any Affiliate or
a Participant's service as a Non-Employee Director with the Company, as
applicable.

"Stock Award" means a grant of shares of Common Stock to an Eligible Person
under Section 10 hereof that are issued free of transfer restrictions and
forfeiture conditions.

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3. ADMINISTRATION.

3.1 Committee Members. The Plan shall be administered by a Committee comprised
of one or more members of the Board.

3.2 Committee Authority. The Committee shall have such powers and authority as
may be necessary or appropriate for the Committee to carry out its functions as
described in the Plan. Subject to the express limitations of the Plan, the
Committee shall have authority in its discretion to determine the Eligible
Persons to whom, and the time or times at which, Awards may be granted, the
number of shares, units, or other rights subject to each Award, base or purchase
price of an Award (if any), the time or times at which an Award will become
vested or payable, the performance goals and other conditions of an Award, the
duration of the Award, and all other terms of the Award. Subject to the terms of
the Plan, the Committee shall have the authority to amend the terms of an Award
in any manner that is not inconsistent with the Plan, provided that no such
action shall adversely affect the rights of a Participant with respect to an
outstanding Award without the Participant's consent. The Committee shall also
have discretionary authority to interpret the Plan, to make factual
determinations under the Plan, and to make all other determinations necessary or
advisable for Plan administration, including, without limitation, to correct any
defect, to supply any omission or to reconcile any inconsistency in the Plan or
any Award Agreement hereunder. The Committee may prescribe, amend, and rescind
rules and regulations relating to the Plan. The Committee's determinations under
the Plan need not be uniform and may be made by the Committee selectively among
Participants and Eligible Persons, whether or not such persons are similarly
situated. The Committee shall, in its discretion, consider such factors as it
deems relevant in making its interpretations, determinations and actions under
the Plan including, without limitation, the recommendations or advice of any
officer or employee of the Company or such attorneys, consultants, accountants
or other advisors as it may select. All interpretations, determinations and
actions by the Committee shall be final, conclusive, and binding upon all
parties.

3.3 Delegation of Authority. The Committee shall have the right, from time to
time, to delegate to one or more officers of the Company the authority of the
Committee to grant and determine the terms and conditions of Awards granted
under the Plan, subject to the requirements of state law and such other
limitations as the Committee shall determine. In no event shall any such
delegation of authority be permitted with respect to Awards to any members of
the Board or to any Eligible Person who is subject to Rule 16b-3 under the
Exchange Act or Section 162(m) of the Code. The Committee shall also be
permitted to delegate, to any appropriate officer or employee of the Company,
responsibility for performing certain ministerial functions under the Plan. In
the event that the Committee's authority is delegated to officers or employees
in accordance with the foregoing, all provisions of the Plan relating to the
Committee shall be interpreted in a manner consistent with the foregoing by
treating any such reference as a reference to such officer or employee for such
purpose. Any action undertaken in accordance with the Committee's delegation of
authority hereunder shall have the same force and effect as if such action was
undertaken directly by the Committee and shall be deemed for all purposes of the
Plan to have been taken by the Committee.

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4. SHARES SUBJECT TO THE PLAN.

4.1 Maximum Share Limitations. The maximum aggregate number of shares of Common
Stock that may be issued and sold under all Awards granted under the Plan shall
be 6,000,000 shares. Shares of Common Stock issued and sold under the Plan may
be either authorized but unissued shares or shares held in the Company's
treasury. To the extent that any Award involving the issuance of shares of
Common Stock is forfeited, cancelled, returned to the Company for failure to
satisfy vesting requirements or other conditions of the Award, or otherwise
terminates without an issuance of shares of Common Stock being made thereunder,
the shares of Common Stock covered thereby will no longer be counted against the
foregoing maximum share limitations and may again be made subject to Awards
under the Plan pursuant to such limitations. Any Awards or portions thereof that
are settled in cash and not in shares of Common Stock shall not be counted
against the foregoing maximum share limitations. At no time shall the total
number of shares provided for under the Plan exceed 30 percent of the then
issued outstanding shares of the Company's Common Stock.

4.2 Adjustments. If there shall occur any change with respect to the outstanding
shares of Common Stock by reason of any recapitalization, reclassification,
stock dividend, extraordinary dividend, stock split, reverse stock split or
other distribution with respect to the shares of Common Stock, or any merger,
reorganization, consolidation, combination, spin-off or other similar corporate
change, or any other change affecting the Common Stock, the Committee may, in
the manner and to the extent that it deems appropriate and equitable to the
Participants and consistent with the terms of the Plan, cause an adjustment to
be made in (i) the maximum number and kind of shares provided in Section 4.1
hereof, (ii) the number and kind of shares of Common Stock, or other rights
subject to then outstanding Awards, (iii) base price for each share or other
right subject to then outstanding Awards, and (iv) any other terms of an Award
that are affected by the event.

5. PARTICIPATION AND AWARDS.

5.1 Designations of Participants. All Eligible Persons are eligible to be
designated by the Committee to receive Awards and become Participants under the
Plan. The Committee has the authority, in its discretion, to determine and
designate from time to time those Eligible Persons who are to be granted Awards,
the types of Awards to be granted, and the number of shares of Common Stock or
units subject to Awards granted under the Plan. In selecting Eligible Persons to
be Participants and in determining the type and amount of Awards to be granted
under the Plan, the Committee shall consider any and all factors that it deems
relevant or appropriate.

5.2 Determination of Awards. The Committee shall determine the terms and
conditions of all Awards granted to Participants in accordance with its
authority under Section 3.2 hereof. An Award may consist of one type of right or
benefit hereunder or of two or more such rights or benefits granted in tandem or
in the alternative. In the case of any fractional share or unit resulting from
the grant, vesting, payment or crediting of dividends or dividend equivalents
under an Award, the Committee shall have the discretionary authority to (i)
disregard such fractional share or unit, (ii) round such fractional share or

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unit to the nearest lower or higher whole share or unit, or (iii) convert such
fractional share or unit into a right to receive a cash payment. To the extent
deemed necessary by the Committee, an Award shall be evidenced by an Award
Agreement as described in Section 9.1 hereof.

6. STOCK AWARDS.

6.1 Grant of Stock Awards. A Stock Award may be granted to any Eligible Person
selected by the Committee. A Stock Award may be granted for past services, in
lieu of bonus or other cash compensation, as directors' compensation, or for any
other valid purpose as determined by the Committee. A Stock Award granted to an
Eligible Person represents shares of Common Stock that are issued without
restrictions on transfer and other incidents of ownership and free of forfeiture
conditions, except as otherwise provided in the Plan and the Award Agreement.
The Committee may, in connection with any Stock Award, require the payment of a
specified purchase price.

6.2 Rights as Shareholder. Subject to the foregoing provisions of this Section 6
and the applicable Award Agreement, upon the issuance of the Common Stock under
a Stock Award the Participant shall have all rights of a shareholder with
respect to the shares of Common Stock, including the right to vote the shares
and receive all dividends and other distributions paid or made with respect
thereto.

7. CHANGE IN CONTROL.

7.1 Effect of Change in Control. Except to the extent an Award Agreement
provides for a different result (in which case the Award Agreement will govern
and this Section 7 of the Plan shall not be applicable), notwithstanding
anything elsewhere in the Plan or any rules adopted by the Committee pursuant to
the Plan to the contrary, if a Triggering Event shall occur within the 12-month
period beginning with a Change in Control of the Company, then, effective
immediately prior to such Triggering Event, (i) each outstanding Award, to the
extent that it shall not otherwise have become vested, shall automatically
become fully and immediately vested without regard to any otherwise applicable
vesting requirement.

7.2 Definitions

(a) Cause. For purposes of this Section 7, the term "Cause" shall mean a
determination by the Committee that a Participant (i) has been convicted of, or
entered a plea of nolo contendere to, a crime that constitutes a felony under
Federal or state law, (ii) has engaged in willful gross misconduct in the
performance of the Participant's duties to the Company or an Affiliate or (iii)
has committed a material breach of any written agreement with the Company or any
Affiliate with respect to confidentiality, noncompetition, nonsolicitation or
similar restrictive covenant. Subject to the first sentence of Section 7.1
hereof, in the event that a Participant is a party to an employment agreement
with the Company or any Affiliate that defines a termination on account of
"Cause" (or a term having similar meaning), such definition shall apply as the
definition of a termination on account of "Cause" for purposes hereof, but only
to the extent that such definition provides the Participant with greater rights.
A termination on account of Cause shall be communicated by written notice to the
Participant, and shall be deemed to occur on the date such notice is delivered
to the Participant.

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(b) Change in Control. For purposes of this Section 7, a "Change in Control"
shall be deemed to have occurred upon any of the following:

(i) the occurrence of an acquisition by any individual, entity or group (within
the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a "Person") of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of a percentage of the combined voting power of the then
outstanding voting securities of the Company entitled to vote generally in the
election of directors (the "Company Voting Securities") (but excluding (1) any
acquisition directly from the Company (other than an acquisition by virtue of
the exercise of a conversion privilege of a security that was not acquired
directly from the Company), (2) any acquisition by the Company or an Affiliate
and (3) any acquisition by an employee benefit plan (or related trust) sponsored
or maintained by the Company or any Affiliate) (an "Acquisition") that is thirty
percent (30%) or more of the Company Voting Securities;

(ii) at any time during a period of two (2) consecutive years or less,
individuals who at the beginning of such period constitute the Board (and any
new directors whose election by the Board or nomination for election by the
Company's shareholders was approved by a vote of at least two-thirds (2/3) of
the directors then still in office who either were directors at the beginning of
the period or whose election or nomination for election was so approved) cease
for any reason (except for death, Disability or voluntary retirement) to
constitute a majority thereof;

(iii) an Acquisition that is fifty percent (50%) or more of the Company Voting
Securities;

(iv) the consummation of a merger, consolidation, reorganization or similar
corporate transaction, whether or not the Company is the surviving company in
such transaction, other than a merger, consolidation, or reorganization that
would result in the Persons who are beneficial owners of the Company Voting
Securities outstanding immediately prior thereto continuing to beneficially own,
directly or indirectly, in substantially the same proportions, at least fifty
percent (50%) of the combined voting power of the Company Voting Securities (or
the voting securities of the surviving entity) outstanding immediately after
such merger, consolidation or reorganization;

(v) the sale or other disposition of all or substantially all of the assets of
the Company;

(vi) the approval by the shareholders of the Company of a complete liquidation
or dissolution of the Company; or

(vii) the occurrence of any transaction or event, or series of transactions or
events, designated by the Board in a duly adopted resolution as representing a
change in the effective control of the business and affairs of the Company,
effective as of the date specified in any such resolution.

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(c) Constructive Termination. For purposes of this Section 7, a "Constructive
Termination" shall mean a termination of employment by a Participant within
sixty (60) days following the occurrence of any one or more of the following
events without the Participant's written consent (i) any reduction in position,
title (for Vice Presidents or above), overall responsibilities, level of
authority, level of reporting (for Vice Presidents or above), base compensation,
annual incentive compensation opportunity, aggregate employee benefits or (ii) a
request that the Participant's location of employment be relocated by more than
fifty (50) miles. Subject to the first sentence of Section 7.1 hereof, in the
event that a Participant is a party to an employment agreement with the Company
or any Affiliate (or a successor entity) that defines a termination on account
of "Constructive Termination," "Good Reason" or "Breach of Agreement" (or a term
having a similar meaning), such definition shall apply as the definition of
"Constructive Termination" for purposes hereof in lieu of the foregoing, but
only to the extent that such definition provides the Participant with greater
rights. A Constructive Termination shall be communicated by written notice to
the Committee, and shall be deemed to occur on the date such notice is delivered
to the Committee, unless the circumstances giving rise to the Constructive
Termination are cured within five (5) days of such notice.

(d) Triggering Event. For purposes of this Section 7, a "Triggering Event" shall
mean (i) the termination of Service of a Participant by the Company or an
Affiliate (or any successor thereof) other than on account of death, Disability
or Cause, (ii) the occurrence of a Constructive Termination or (iii) any failure
by the Company (or a successor entity) to assume, replace, convert or otherwise
continue any Award in connection with the Change in Control (or another
corporate transaction or other change effecting the Common Stock) on the same
terms and conditions as applied immediately prior to such transaction, except
for equitable adjustments to reflect changes in the Common Stock pursuant to
Section 4.2 hereof.

7.3 Excise Tax Limit. In the event that the vesting of Awards together with all
other payments and the value of any benefit received or to be received by a
Participant would result in all or a portion of such payment being subject to
the excise tax under Section 4999 of the Code, then the Participant's payment
shall be either (i) the full payment or (ii) such lesser amount that would
result in no portion of the payment being subject to excise tax under Section
4999 of the Code (the "Excise Tax"), whichever of the foregoing amounts, taking
into account the applicable Federal, state, and local employment taxes, income
taxes, and the Excise Tax, results in the receipt by the Participant, on an
after-tax basis, of the greatest amount of the payment notwithstanding that all
or some portion of the payment may be taxable under Section 4999 of the Code.
All determinations required to be made under this Section 7 shall be made by any
recognized accounting firm which is the Company's outside auditor immediately
prior to the event triggering the payments that are subject to the Excise Tax
(the "Accounting Firm"). The Company shall cause the Accounting Firm to provide
detailed supporting calculations of its determinations to the Company and the
Participant. All fees and expenses of the Accounting Firm shall be borne solely
by the Company. The Accounting Firm's

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determinations must be made with substantial authority (within the meaning of
Section 6662 of the Code). For the purposes of all calculations under Section
280G of the Code and the application of this Section 7.3, all determinations as
to present value shall be made using 120 percent of the applicable Federal rate
(determined under Section 1274(d) of the Code) compounded semiannually, as in
effect on December 30, 2004.

8. FORFEIRTURE EVENTS.

8.1 General. The Committee may specify in an Award Agreement at the time of the
Award that the Participant's rights, payments and benefits with respect to an
Award shall be subject to reduction, cancellation, forfeiture or recoupment upon
the occurrence of certain specified events, in addition to any otherwise
applicable vesting or performance conditions of an Award. Such events shall
include, but shall not be limited to, termination of Service for cause,
violation of material Company policies, breach of noncompetition,
confidentiality or other restrictive covenants that may apply to the
Participant, or other conduct by the Participant that is detrimental to the
business or reputation of the Company.

8.2 Termination for Cause. Unless otherwise provided by the Committee and set
forth in an Award Agreement, if a Participant's employment with the Company or
any Affiliate shall be terminated for cause, the Company may, in its sole
discretion, immediately terminate such Participant's right to any further
payments or vesting with respect to any Award in its entirety. In the event a
Participant is party to an employment (or similar) agreement with the Company or
any Affiliate that defines the term "cause," such definition shall apply for
purposes of the Plan. The Company shall have the power to determine whether the
Participant has been terminated for cause and the date upon which such
termination for cause occurs. Any such determination shall be final, conclusive
and binding upon the Participant. In addition, if the Company shall reasonably
determine that a Participant has committed or may have committed any act which
could constitute the basis for a termination of such Participant's employment
for cause, the Company may suspend the Participant's rights to receive any
payment or vest in any right with respect to any Award pending a determination
by the Company of whether an act has been committed which could constitute the
basis for a termination for "cause" as provided in this Section 8.2.

9. GENERAL PROVISIONS.

9.1 Award Agreement. To the extent deemed necessary by the Committee, an Award
under the Plan shall be evidenced by an Award Agreement in a written or
electronic form approved by the Committee setting forth the number of shares of
Common Stock or units subject to the Award, the base price, or purchase price of
the Award, if any, the time or times at which an Award will become vested or
payable and the term of the Award. The Award Agreement may also set forth the
effect on an Award of termination of Service under certain circumstances. The
Award Agreement shall be subject to and incorporate, by reference or otherwise,
all of the applicable terms and conditions of the Plan, and may also set forth
other terms and conditions applicable to the Award as determined by the
Committee consistent with the limitations of the Plan. The grant of an Award
under the Plan shall not confer any rights upon the Participant holding such

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Award other than such terms, and subject to such conditions, as are specified in
the Plan as being applicable to such type of Award (or to all Awards) or as are
expressly set forth in the Award Agreement. The Committee need not require the
execution of an Award Agreement by a Participant, in which case, acceptance of
the Award by the Participant shall constitute agreement by the Participant to
the terms, conditions, restrictions and limitations set forth in the Plan and
the Award Agreement as well as the administrative guidelines of the Company in
effect from time to time.

9.2 No Assignment or Transfer; Beneficiaries. Awards under the Plan shall not be
assignable or transferable by the Participant, except by will or by the laws of
descent and distribution, and shall not be subject in any manner to assignment,
alienation, pledge, encumbrance or charge. Notwithstanding the foregoing, the
Committee may provide in the terms of an Award Agreement that the Participant
shall have the right to designate a beneficiary or beneficiaries who shall be
entitled to any rights, payments or other benefits specified under an Award
following the Participant's death.

9.3 Deferrals of Payment. The Committee may in its discretion permit a
Participant to defer the receipt of payment of cash or delivery of shares of
Common Stock that would otherwise be due to the Participant by virtue of the
satisfaction of vesting or other conditions with respect to an Award. If any
such deferral is to be permitted by the Committee, the Committee shall establish
rules and procedures relating to such deferral in a manner intended to comply
with the requirements of Section 409A of the Code, including, without
limitation, the time when an election to defer may be made, the time period of
the deferral and the events that would result in payment of the deferred amount,
the interest or other earnings attributable to the deferral and the method of
funding, if any, attributable to the deferred amount.

9.4 Rights as Shareholder. A Participant shall have no rights as a holder of
shares of Common Stock with respect to any unissued securities covered by an
Award until the date the Participant becomes the holder of record of such
securities. Except as provided in Section 4.2 hereof, no adjustment or other
provision shall be made for dividends or other shareholder rights, except to the
extent that the Award Agreement provides for dividend payments or dividend
equivalent rights.

9.5 Employment or Service. Nothing in the Plan, in the grant of any Award or in
any Award Agreement shall confer upon any Eligible Person any right to continue
in the Service of the Company or any of its Affiliates, or interfere in any way
with the right of the Company or any of its Affiliates to terminate the
Participant's employment or other service relationship for any reason at any
time.

9.6 Securities Laws. No shares of Common Stock will be issued or transferred
pursuant to an Award unless and until all then applicable requirements imposed
by Federal and state securities and other laws, rules and regulations and by any
regulatory agencies having jurisdiction, and by any exchanges upon which the
shares of Common Stock may be listed, have been fully met. As a condition
precedent to the issuance of shares pursuant to the grant of an Award, the
Company may require the Participant to take any reasonable action to meet such

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requirements. The Committee may impose such conditions on any shares of Common
Stock issuable under the Plan as it may deem advisable, including, without
limitation, restrictions under the Securities Act of 1933, as amended, under the
requirements of any exchange upon which such shares of the same class are then
listed, and under any blue sky or other securities laws applicable to such
shares. The Committee may also require the Participant to represent and warrant
at the time of issuance or transfer that the shares of Common Stock are being
acquired only for investment purposes and without any current intention to sell
or distribute such shares.

9.7 Tax Withholding. The Participant shall be responsible for payment of any
taxes or similar charges required by law to be withheld from an Award or an
amount paid in satisfaction of an Award, which shall be paid by the Participant
on or prior to the payment or other event that results in taxable income in
respect of an Award. The Award Agreement may specify the manner in which the
withholding obligation shall be satisfied with respect to the particular type of
Award.

9.8 Unfunded Plan. The adoption of the Plan and any reservation of shares of
Common Stock or cash amounts by the Company to discharge its obligations
hereunder shall not be deemed to create a trust or other funded arrangement.
Except upon the issuance of Common Stock pursuant to an Award, any rights of a
Participant under the Plan shall be those of a general unsecured creditor of the
Company, and neither a Participant nor the Participant's permitted transferees
or estate shall have any other interest in any assets of the Company by virtue
of the Plan. Notwithstanding the foregoing, the Company shall have the right to
implement or set aside funds in a grantor trust, subject to the claims of the
Company's creditors or otherwise, to discharge its obligations under the Plan.

9.9 Other Compensation and Benefit Plans. The adoption of the Plan shall not
affect any other share incentive or other compensation plans in effect for the
Company or any Affiliate, nor shall the Plan preclude the Company from
establishing any other forms of share incentive or other compensation or benefit
program for employees of the Company or any Affiliate. The amount of any
compensation deemed to be received by a Participant pursuant to an Award shall
not constitute includable compensation for purposes of determining the amount of
benefits to which a Participant is entitled under any other compensation or
benefit plan or program of the Company or an Affiliate, including, without
limitation, under any pension or severance benefits plan, except to the extent
specifically provided by the terms of any such plan.

9.10 Plan Binding on Transferees. The Plan shall be binding upon the Company,
its transferees and assigns, and the Participant, the Participant's executor,
administrator and permitted transferees and beneficiaries.

9.11 Severability. If any provision of the Plan or any Award Agreement shall be
determined to be illegal or unenforceable by any court of law in any
jurisdiction, the remaining provisions hereof and thereof shall be severable and
enforceable in accordance with their terms, and all provisions shall remain
enforceable in any other jurisdiction.

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9.12 Foreign Jurisdictions. The Committee may adopt, amend and terminate such
arrangements and grant such Awards, not inconsistent with the intent of the
Plan, as it may deem necessary or desirable to comply with any tax, securities,
regulatory or other laws of other jurisdictions with respect to Awards that may
be subject to such laws. The terms and conditions of such Awards may vary from
the terms and conditions that would otherwise be required by the Plan solely to
the extent the Committee deems necessary for such purpose. Moreover, the Board
may approve such supplements to or amendments, restatements or alternative
versions of the Plan, not inconsistent with the intent of the Plan, as it may
consider necessary or appropriate for such purposes, without thereby affecting
the terms of the Plan as in effect for any other purpose.

9.13 Substitute Awards in Corporate Transactions. Nothing contained in the Plan
shall be construed to limit the right of the Committee to grant Awards under the
Plan in connection with the acquisition, whether by purchase, merger,
consolidation or other corporate transaction, of the business or assets of any
corporation or other entity. Without limiting the foregoing, the Committee may
grant Awards under the Plan to an employee or director of another corporation
who becomes an Eligible Person by reason of any such corporate transaction in
substitution for awards previously granted by such corporation or entity to such
person. The terms and conditions of the substitute Awards may vary from the
terms and conditions that would otherwise be required by the Plan solely to the
extent the Committee deems necessary for such purpose.

9.14 Governing Law. The Plan and all rights hereunder shall be subject to and
interpreted in accordance with the laws of the State of Nevada, without
reference to the principles of conflicts of laws, and to applicable Federal
securities laws.

9.15 Financial Statements. All Participates shall receive the financial
statements of the Company at least annually.

9.16 Stockholder Approval. The Plan must be approved by the stockholders by a
majority of all shares entitled to vote within twelve (12) months after the date
the Plan was adopted by the Board. Any securities purchased before stockholder
approval is obtained shall be rescinded if stockholder approval is not obtained
within twelve (12) months before or after the Plan was adopted. Such securities
shall not be counted in determining whether such approval is obtained.

10. EFFECTIVE DATE; AMENDMENT AND TERMINATION.

10.1 Effective Date. The Plan shall become effective following its adoption by
the Board. The term of the Plan shall be ten (10) years from the date of
adoption by the Board, subject to Section 10.3 hereof.

10.2 Amendment. The Board may at any time and from time to time and in any
respect, amend or modify the Plan. The Board may seek the approval of any
amendment or modification by the Company's shareholders to the extent it deems
necessary or advisable in its discretion for purposes of compliance with Section
162(m) or Section 422 of the Code, or exchange or securities market or for any
other purpose. No amendment or modification of the Plan shall adversely affect
any Award theretofore granted without the consent of the Participant or the
permitted transferee of the Award.

<PAGE>

10.3 Termination. The Plan shall terminate on the tenth anniversary of the date
of its adoption by the Board. The Board may, in its discretion and at any
earlier date, terminate the Plan. Notwithstanding the foregoing, no termination
of the Plan shall adversely affect any Award theretofore granted without the
consent of the Participant or the permitted transferee of the Award.Prepared and filed by St Ives Financial

Exhibit 10.1

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (“Agreement”), is made as of this 1st day of September, 2006, by and between IMPAX LABORATORIES, INC., a Delaware corporation, with offices located at 121 New Britain Boulevard, Chalfont, PA 18914, its successors and assigns (hereinafter collectively referred to as “Company”), and DAVID S. DOLL, an individual residing at 350 Courtland Ave, Harleysville, PA  19438  (“Employee”).

BACKGROUND

WHEREAS, Employee is currently employed by the Company as Executive Vice President, Commercial Operations; and

WHEREAS, the Company wishes to reward Employee by modifying his “at-will” employment to employment for a fixed term, and Employee desires to continue to be employed by the Company, all upon the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the facts, mutual promises, and covenants contained herein and intending to be legally bound hereby, the parties hereto agree as follows:

	
  
1.     Employment.  The Company hereby reaffirms its employment of Employee and Employee hereby accepts continued employment by the Company, for the period and upon the terms and conditions set forth in this Agreement, subject to earlier termination pursuant to Section 5 below.

			 
	
  
2.     Office and Duties.

			 	 
	
(a)     During the term of this Agreement, Employee shall serve as Executive Vice President, Commercial Operations of the Company, with overall responsibility for Corporate Business Development, and the Generic Sales/Marketing and Branded Sales/Marketing operations of the Company, shall report directly to the President of the Company Larry Hsu (“President”), and be subject to the supervision, control and direction of the President or as otherwise directed by the Board of Directors of the Company (“Board”).  

			 	 
	
(b)     In his capacity as Executive Vice President, Commercial Operations, Employee shall have such authority, perform such duties, discharge such responsibilities and render such services as are customary to, and consistent with his position, subject to the authority and direction of the President, and shall perform such additional duties and responsibilities as may be from time to time assigned to him by the President, CEO or the Board, so long as such additional duties and responsibilities are consistent with those customarily performed by an executive of a comparable size public company.

			 	 
	
(c)     Employee shall render his services diligently, faithfully and to the best of his ability, and shall devote all of his working time, energy, skill and best efforts to the performance of his duties hereunder, in a manner that will further the business and interests of the Company.  Employee shall also conduct himself and the business of the Company in good faith and in accordance with the highest standards of compliance with all laws and regulations applicable in all jurisdictions in which the Company does business.

			 	 
	
(d)     During
      the term of this Agreement, Employee shall not be engaged in any business
      activity which, in the reasonable judgment of the President, CEO or Board,
      conflicts with Employee’s duties hereunder, whether or not such activity
    is pursued for pecuniary advantage.

	 
	
(e)     Employee shall comply in all material respects with all Company policies, and directives or policies set by the Board, including, without limitation, policies regarding ethics, integrity and personal conduct.  

			 	 
	
(f)     During the term of this Agreement, Employee’s principal place of employment shall be at the Company’s facilities located at 121 New Britain Boulevard, Chalfont, Pennsylvania 18914 or 3437 Castor Ave., Philadelphia, Pennsylvania (the “Place of Employment”).  The Company shall not change Employee’s Place of Employment to a location that is more than twenty-five (25) miles from the Place of Employment without Employee’s consent.

			 
	
  
3.     Term.  This Agreement shall be for a term of three (3) years (“Initial Term”) commencing on the date first mentioned above (“Effective Date”) and, if not previously terminated in accordance with the terms of this Agreement, ending three (3) years later.  The Initial Term shall be automatically extended on the third anniversary date of the commencement of this Agreement (“Renewal Date”) for a period of one (1) year unless either party shall give written notice of non-renewal to the other party at least sixty (60) days prior to the Renewal Date, in which event this Agreement shall terminate at the end of the Initial Term.  Subject
to the termination provisions contained herein, if this Agreement is renewed on the Renewal Date, it will automatically be renewed on the first anniversary date of the Renewal Date and each subsequent year (the “Annual Renewal Date”) for a period ending one (1) year from each Annual Renewal Date (“Renewal Period”), unless either party gives written notice of non-renewal to the other party at least sixty (60) days prior to the Annual Renewal Date, in which case this Agreement will terminate on the Annual Renewal Date immediately following such notice.

			 
	
  
4.     Compensation.

			 	 
	
(a)     Base Salary.  In consideration of the services rendered by Employee to the Company during the term hereof, Employee shall receive a base salary based on an annualized rate of Two Hundred Ninety-Five Thousand and 00/100 Dollars ($295,000.00) through January 31, 2007,  payable in equal periodic installments in accordance with the Company’s regular payroll practices in effect from time to time.  For the period from February 1, 2007 through January 31, 2008, Employee shall receive an annual base salary of Three Hundred Thirty-Five Thousand and 00/100 Dollars ($335,000.00) and beginning on February 1, 2008 and ending on the
expiration of the Initial Term, an annual base salary of Three Hundred Ninety Five Thousand and 00/100 Dollars ($395,000.00), payable in equal periodic installments in accordance with the Company’s regular payroll practices in effect from time to time (“Base Salary”).  Thereafter, Employee’s Base Salary shall be reviewed annually by the CEO, President, the Board and/or a committee of the Board which has been delegated responsibility for employee compensation matters (such committee to be referred to herein as the “Compensation Committee”) in accordance with the compensation policies and guidelines of the Company, and may be modified either up or down as a result of such review at the sole discretion of the Board and/or the Compensation Committee.
  

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(b)     Bonus
        Plans/Incentive Compensation Programs. In addition to Base Salary,
        during the Term, Employee shall be eligible to participate in any bonus
        plans or incentive compensation programs as may be in effect from time
        to time, at a level consistent with his position and with the Company’s
        then current policies and practices (“Bonus”). The target
        for Employee’s bonus shall be set at seventy-five percent (75%)
        of his Base Salary. 

			 	 
	
  (c)     Stock
        Bonus. In accordance with the Company’s 2002 Equity Incentive
        Plan (“Plan”), upon execution of this Agreement, Employee
        will be granted a restricted stock bonus award of Thirty Thousand (30,000)
        shares of the Company’s Common Stock (“First Restricted Share
        Grant”) and options to purchase Thirty Thousand (30,000) shares
        of Common Stock (“First Stock Option Grant”). One-seventh
        of the First Restricted Share Grant and one-fourth of the First Stock
        Option Grant will vest on each anniversary date of the Agreement thereafter
        over a seven-year and four-year period, respectively. On the second anniversary
        of this Agreement, Employee will be granted a second restricted stock
        bonus award of Thirty Thousand (30,000) shares of Common Stock (“Second
        Restricted Share Grant”) and options to purchase Thirty Thousand
        (30,000) shares of Common Stock (“Second Stock Option Grant”).
        One seventh of the Second Restricted Share Grant and one-fourth of the
        Second Stock Option Grant will vest on each subsequent anniversary date
        of the Agreement thereafter over a seven-year and four-year period, respectively.
        The First Restricted Share Grant and Second Restricted Share Grant are
        collectively referred to hereinafter as “Restricted Shares”,
        and the First Stock Option Grant and Second Stock Option Grant are collectively
        referred to hereinafter as “Stock Options”. In order to enable
        Employee to satisfy the minimum withholding tax obligations with respect
        to the vesting of the Restricted Shares, the Company shall withhold from
        the Restricted Shares that vest each year a number of shares having a
        fair market value (as defined in the Plan) equal to the amount required
        to be withheld.

			 	 	 
	
  (i)     As
      the Company may not issue the Restricted Shares or Stock Options without
      prior approval of the Company’s Shareholders, the pricing of the
      Stock Options and the issuance of the Restricted Shares and Stock Options
      will be deferred until shareholder approval is received. Prior to the expiration,
      termination or Change in Control of this agreement, if for any reason Shareholder
      approval is not received; the Employee shall nevertheless be entitled to
      the economic benefits, as reasonably determined by the Compensation Committee,
      of such Restricted Shares and Stock Options. The exercise price of the
      Stock Options included in the First Stock Option Grant will be the fair
      market value of the Company’s Common Stock on the date of such Shareholder
      approval. The exercise price of the Stock Options included in the Second
      Stock Option Grant will be the fair market value of the Common Stock on
      the date of grant unless Shareholder approval shall not have been obtained
      by that date, in which case it will be the fair market value on the date
      of Shareholder approval. To the extent the fair market price of the Common
      Stock on the date of issuance is higher than that on the date of grant
      of the Stock Options, the Company will credit the amount of such excess
      to Employee upon, and to the extent of, Employee’s exercise of such
      Stock Options. Employee understands and agrees that at the time of execution
      of this Agreement, the Restricted Shares and the Common Stock underlying
      the Stock Options are not registered under the Securities Act of 1933 and,
      therefore, such Restricted Shares and Stock Options cannot be publicly
      traded until such time as such shares are the subject of an effective registration
      statement.

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  (ii)     Should
      Employee’s employment be terminated by the Company without “Cause” or
      by Employee for “Good Reason”, or in the event of the death
      or disability of Employee, all of the unvested Restricted Shares and Stock
      Options shall be accelerated and become fully vested. In addition, if Employee
      voluntarily terminates his employment for other than “Good Reason” within
      eighteen (18) months of a change in Employee’s direct reporting from
      Larry Hsu to another Company officer, all of the unvested Restricted Shares
      and Stock Options, both granted and not yet granted, shall be accelerated
      and become fully vested. If, however, Employee is terminated for “Cause” or
      employee voluntarily terminates his employment for any reason other than “Good
      Reason” or change in direct report from Larry Hsu, all remaining
      unvested Restricted Shares and Stock Options hereunder shall be forfeited.

	 
	
    (d)     Benefits.
        During his employment hereunder, Employee also shall be entitled to participate
        in all fringe benefits, if any, as may be in effect from time to time
        which are generally available to the Company’s senior executive
        officers, and such other fringe benefits as the Board and/or Compensation
        Committee shall deem appropriate, subject to eligibility requirements
        thereof (collectively, the “Benefits”). In no event shall
        the Benefits be less than the Benefits provided by the Company to Employee
        on the date hereof.

  

	 
	
  (e)     Vacation.
      During this employment hereunder, Employee shall be entitled to the number
      of paid vacation days in each calendar year as determined by the Company
      from time to time for its senior executive officers. Vacation days which
      are not used during any calendar year may not be accrued or carried-over
      to the next year, nor shall Employee be entitled to compensation for unused
      vacation days. In no event shall the number of vacation days be less than
      the number provided by the Company to Employee on the date hereof.

			 	 
	
  (f)     Business
        Expenses. During his employment hereunder, the Company shall pay
        or reimburse Employee for all reasonable expenses incurred or paid by
        Employee in the performance of Employee’s duties hereunder, upon
        timely presentation of expense statements or vouchers and such other
        information as the Company may reasonably require and in accordance with
        the generally applicable policies and practices of the Company as they
        may be modified from time to time. 

			 	 
	
  (g)     Withholding.
      All payments made pursuant to this Agreement shall be subject to such withholding
      taxes as may be required by any applicable law.

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   5.     Termination.
      This Agreement shall continue until the end of the Initial Term or any
      Renewal Period, unless terminated earlier by the Company or Employee as
      provided herein. If this Agreement is terminated prior to the expiration
      of the Initial Term or any Renewal Period by the Company or Employee, the
      provisions contained in Section 6, “Payments Upon Termination”,
      shall apply.

			 	 
	
   (a)     Termination
        by Company for Cause. The Company shall have the right to terminate
        this Agreement at any time for “Cause”. For purposes of this
    Agreement, the term “Cause” shall mean the following: 

			 	 	 
	
  (i)     Employee
      commits fraud or theft against the Company or any of its subsidiaries,
      affiliates, joint ventures and related organizations (collectively referred
      to as “Affiliates”), or is indicted, convicted of, or pleads
      guilty or nolo contendere to, a felony or misdemeanor; or

			 	 	 
	
  (ii)     In
      carrying out his duties hereunder, the Employee engages in conduct that
      constitutes gross neglect or willful misconduct that results, in either
      case, in material economic harm to the Company or its Affiliates; or

			 	 	 
	
  (iii)     Employee
      materially breaches any provision of this Agreement (including but not
      limited to the restrictive covenants contained in Section 7 below) or breaches
      any fiduciary duty or duty of loyalty owed to the Company or its Affiliates;
      or

			 	 	 
	
  (iv)     Employee
      engages in conduct, which in the sole discretion of the Company, tends
      to bring the Company or its Affiliates into public disgrace or disrepute;
      or

			 	 	 
	
  (v)     Employee
      neglects or refuses to perform duties or responsibilities as directed by
      the President, CEO or the Board which are consistent with Section 2(b),
      or violates any direction of any lawful rule, policy or regulation established
      by the President, the CEO or the Board; or 

			 	 	 
	
  (vi)     Employee
      commits any acts or omissions resulting in or intended to result in direct
      personal gain to the Employee at the expense of the Company or its Affiliates;
      or

			 	 	 
	
  (vii)     Employee
      compromises or otherwise discloses trade secrets or other confidential
      and proprietary information of the Company or its Affiliates.

“Cause” shall not include a bona fide disagreement over a corporate policy, so long as the Employee does not willfully violate on a continuing basis specific written directions from the President, CEO or the Board, which directions are consistent with the provisions of this Agreement.  Action or inaction by Employee shall not be considered “willful” unless done or omitted by him intentionally and without his reasonable belief that his action or inaction was in the best interests of the Company or its Affiliates, and shall not include failure to act by reason of total or partial incapacity due to physical or mental illness.

	
   (b)     Termination
        by Company upon the Death or Disability of Employee. Company shall
        have the right to terminate this Agreement at any time upon the Death
        or Disability of Employee. The term, “Disability”, as used
        herein, means any physical or mental illness, disability or incapacity
        which prevents Employee from performing the essential functions of his
        job, with or without reasonable accommodations, hereunder for a period
        of not less than one hundred fifty (150) consecutive days or for an aggregate
        of one hundred eighty (180) days during any period of twelve (12) consecutive
        months. During any period of Disability, Employee agrees to submit to
        reasonable medical examinations upon the reasonable request, and at the
        expense, of the Company. 

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   (c)     Termination
        By Company Without Cause. The Company shall have the right to terminate
        this Agreement at any time without “Cause” and/or without
        the occurrence of Employee’s Death or Disability upon thirty (30)
        days written notice to Employee.

				 
	
   (d)     Termination
        By Employee For Good Reason. Employee shall have the right to terminate
        his Agreement at any time during his employment with the Company for “Good
        Reason” upon thirty (30) days prior written notice to the President,
        CEO and the Company’s Board. For purposes of this Agreement, “Good
        Reason” shall mean any of the following:

				 	 
	
  (i)     the
      assignment to Employee by the Company of any duties inconsistent with Employee’s
      status with the Company; or 

				 	 
	
  (ii)     the
      relocation of Employee to a Company office located more than twenty-five
      (25) miles from Employee’s Place of Employment; or 

				 	 
	
  (iii)     any
      material breach by the Company of a material term or provision contained
      in this Agreement, which breach is not cured within thirty (30) days following
      the receipt by the President, CEO and the Board of written notice of such
      breach; or 

				 	 
	
  (iv)     there
      is a “Change in Control” of the Company (as hereinafter defined).

				 
	
   (e)     Definition
        of Change in Control. For purposes of this Agreement, a “Change
        in Control of Company” means any of the events described in the
        following subsections (i) through (vii):

					 
	
  (i)     The
      occurrence of any event that would, if known to the Company’s management,
      be required to be reported by the Company under Item 5.01(a) of Form 8-K
      pursuant to the Securities Exchange Act of 1934 (the “Exchange Act”);
      or

					 
	
  (ii)     The
      acquisition or receipt, in any manner, by any person (as defined for purposes
      of the Exchange Act) or any group of persons acting in concert, of direct
      or indirect beneficial ownership (as defined for purposes of the Exchange
      Act) of fifty-one percent or more of the combined voting securities ordinarily
      having the right to vote for the election of directors of the Company;
      provided that the following shall not constitute a Change in Control: (a)
      any acquisition directly from the Company; (b) any acquisition by the Company
      or any of its affiliates; or (c) any acquisition by any employee benefit
      plan (or related trust) sponsored or maintained by the Company or any of
      its affiliates; or

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  (iii)     A
      change in the constituency of the Board with the result that individuals
      (the “Incumbent Directors”) who are members of the Board as
      of the Effective Date cease for any reason to constitute at least a majority
      of the Board; provided that any individual who is elected to the Board
      after the Effective Date and whose nomination for election was unanimously
      approved by the Incumbent Directors shall be considered an Incumbent Director
      beginning on the date of his or her election to the Board; or 

					 
	
  (iv)     Consummation
      of a merger, consolidation or reorganization involving the Company, unless
      such merger, consolidation or reorganization results in the voting securities
      of the Company outstanding immediately prior thereto continuing to represent
      (either by remaining outstanding or by being converted into voting securities
      of the surviving entity or parent thereof) more than fifty-one percent
      of the total voting power represented by the voting securities of the Company
      or such surviving entity or parent thereof outstanding immediately after
      such merger, consolidation or reorganization; or

					 
	
  (v)     A
      complete liquidation or dissolution of the Company; or

					 
	
  (vi)     A
      sale, exchange or other disposition or transfer of all or substantially
      all of the Company’s business or assets, other than pursuant to a
      spin-off or comparable transaction in which the transferee is controlled
      by the Company or its existing stockholders immediately prior to such transfer; 

					 
	
  (vii)     Any
      event that would constitute a “Change in Control” pursuant
      to the Impax Laboratories, Inc. Non-Qualified Deferred Compensation Plan. 

				 
	
   (f)      Termination
        by Employee for Other than Good Reason. If Employee shall desire
        to terminate his employment hereunder for other than Good Reason, he
        shall first give the Company not less than thirty (30) days prior written
        notice of termination. Upon a termination of Employee’s employment
        with Company under this Section 5(f), the effective date of termination
        shall be the date set forth in employee’s resignation notice (assuming
        such date is in compliance with the notice provisions of this Section
        5(f)) or an earlier date, as determined by the Company, in its sole discretion,
        after Company’s receipt of such notice, but not earlier than the
        date on which Company learned of Employee’s decision to terminate
        his employment for other than Good Reason.

				 
	
   (g)     Notice
        of Termination. Any termination, except for death, pursuant to this
        Section 5 shall be communicated by a Notice of Termination. For purposes
        of this Agreement, a “Notice of Termination” shall mean a
        written notice which shall indicate those specific termination provisions
        in this Agreement relied upon and which sets forth in reasonable detail
        the facts and circumstances claimed to provide a basis for termination
        of the Employee’s employment under the provisions so indicated.
        The Notice of Termination shall also set forth Employee’s employment
        is terminated and be delivered in accordance with the terms of this Agreement.

Notwithstanding anything to the contrary set forth herein, the provisions of Sections 7 and 8 shall survive the termination of Employee’s employment hereunder for any reason, and shall remain in full force and effect thereafter.

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   6.     Payments
        Upon Termination.

          

			 	 
	
  (a)     Termination
        for Cause. In the event Employee’s employment hereunder is
        terminated for Cause, all of Employee’s rights to his Base Salary,
        Benefits and Bonus, if any, shall immediately terminate as of the date
        of such termination, except that Employee shall be entitled to, and the
        Company shall pay to Employee, any earned and unpaid portion of his Base
        Salary and accrued Benefits up to the date of termination, less all deductions
        or offsets for amounts owed by Employee to the Company. The Company shall
        have no further obligations to Employee under the Agreement.

				 
	
   (b)     Termination
        Due to Death or Disability. In the event Employee’s employment
        hereunder is terminated due to his Death or Disability, all of Employee’s
        rights to his Base Salary, Benefits and Bonus, if any, shall immediately
        terminate as of the date of such termination, except that Employee (or,
        in the event that Employee’s employment hereunder is terminated
        due to Employee’s death, Employee’s heirs, personal representative
        or estate) shall be entitled to, and the Company shall pay, any earned
        and unpaid portion of his Base Salary and accrued Benefits up to the
        date of termination less all deductions or offsets for amounts owed by
        Employee to the Company. The Company shall have no further obligations
        to Employee under the Agreement other than as referenced in Section 4(c)
        relating to the accelerated vesting of Restricted Shares and Stock Options. 

				 
	
   (c)     Termination
        By Company Without Cause or By Employee For Good Reason. If the Company
        terminates Employee’s employment other than for Cause or the occurrence
        of Employee’s death or Disability, or if Employee terminates his
        employment for Good Reason, the Company shall pay to Employee as severance
        a lump sum payment equal to the greater of: (i) one (1) year of Employee’s
        Base Salary in effect upon termination plus the average of Employee’s
        Bonus over the past two (2) years, or (ii) Base Salary in effect upon
        termination for the remainder of the Initial Term (“Severance Payment”),
        provided Employee is not in breach of this Agreement, and he executes,
        and does not revoke, a General Release of all claims relating to his
        employment and termination from employment in a form provided by the
        Company (“General Release”). Such lump sum Severance Payment
        shall be made to Employee within 15 days after Employee executes the
        General Release, provided he does not revoke the General Release. Employee
        understands that should he fail or refuse to execute the General Release
        provided by the Company, or revoke such General Release, he shall not
        be entitled to the Severance Payment under this section. The Company
        shall have no further obligations to Employee under the Agreement other
        than as referenced in Section 4(c) relating to the accelerated vesting
        of Restricted Shares and Stock Options.

				 
	
   (d)     Termination
        By Employee For Other Than Good Reason. In the event Employee terminates
        his employment for other than Good Reason, all of Employee’s rights
        to his Base Salary, Benefits and Bonus, if any, shall immediately terminate
        as of the date of termination, except that Employee shall be entitled
        to any earned and unpaid portion of his Base Salary and accrued Benefits
        up to the date of termination. The Company shall have no further obligations
        to Employee under the Agreement other than as referenced in Section 4(c)
        relating to the accelerated vesting of Restricted Shares and Stock Options.

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   7.     Restrictive
        Covenants.

			 	 
	
  (a)     Non-Solicitation.
      During the Initial Term and any Renewal Period, and for a period of the
      greater of one (1) year or the remainder of the Initial Term after this
      Agreement is terminated for any reason, voluntary or involuntary, Employee
      will not, directly or indirectly, for his own account or for the benefit
      of any natural person, corporation, partnership, trust, estate, joint venture,
      sole proprietorship, association, cooperative or other entity (“Person”):

			 	 	 
	
  (i)     solicit,
      service, contact, or aid in the solicitation or servicing of any Person
      or business entity, which is or was a customer, prospective customer, contractor,
      subcontractor, vendor or supplier of the Company or its Affiliates (as
      defined in Section 5(a)(i) above) within three (3) years prior to Employee’s
      termination (“Company Customers”), for the purpose of : (a)
      inducing Company Customers to cancel, transfer or cease doing business
      in whole or in part with Company or its Affiliates or (b) inducing Company
      Customers to buy from any Person other than the Company any product sold
      by the Company. For purposes of this Agreement, the term “Business
      of the Company” shall mean the development, manufacturing and marketing
      of prescription pharmaceutical products, and any other business the Company
      is actually engaged or planning to be engaged in during Employee’s
      employment 

			 	 	 
	
  (ii)     solicit,
      aid in solicitation of, induce, contact for the purpose of, encourage or
      in any way cause any employee of Company or its Affiliates to leave the
      employ of Company or its Affiliates, or interfere with such employee’s
      relationship with Company or its Affiliates. 

			 	 
	
  (b)     Non-Disclosure.
      Other than in furtherance of the Business of the Company in the ordinary
      course in his capacity as an employee hereunder, Employee will not, at
      any time, except with the express prior written consent of the Board, directly
      or indirectly, disclose, communicate or divulge to any Person or entity,
      or use for the benefit of any Person or entity, any secret, confidential
      or proprietary knowledge or information with respect to the conduct or
      details of the Business of the Company including, but not limited to, customer
      lists, accounts and information, prospective customer, contractor, subcontractor
      and vendor lists and information, product research and development, drug
      formulations, information relating to planned or contemplated ANDAs, NDAs,
      Paragraph 4 filings, methods of operation, pricing, costs, sales, sales
      strategies and methods, marketing, marketing strategies and methods, know-how,
      policies, financial information, financial condition, business strategies
      and plans and other information of the Company or its Affiliates which
      is not generally available to the public and which has been developed or
      acquired by the Company or its Affiliates with considerable effort and
      expense (“Confidential Information”). Upon the expiration or
      termination of Employee’s employment under this Agreement, Employee
      shall immediately deliver to the Company all Confidential Information,
      memoranda, books, papers, letters, and other data (whether in written or
      electronic form), and all copies of same, which were made by Employee or
      otherwise came into his possession or under his control at any time prior
      to the expiration or termination of his employment under this Agreement,
      and which in any way relate to the Business of the Company as conducted
      or as planned to be conducted by the Company or its Affiliates on the date
      of the expiration or termination.

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   (c)     Intellectual
        Property. Employee will promptly communicate to the Company, in writing
        when requested, all software, designs, techniques, concepts, methods
        and ideas, other technical information, marketing strategies and other
        ideas and creations pertaining to the Business of the Company which are
        conceived or developed by Employee alone, or with others, at any time
        (during or after business hours) while Employee is employed by the Company
        or its Affiliates. Employee acknowledges that all of those ideas and
        creations are inventions and works for hire, and will be the Company’s
        exclusive property. Employee will sign any documents which the Company
        deems necessary to confirm its ownership of those ideas and creations,
        and Employee will cooperate with the Company in order to allow the Company
        to take full advantage of those ideas and creations.

				 
	
   (d)     Non-Disparagement.
      Employee will not, at any time, publish or communicate disparaging or derogatory
      statements or opinions about the Company or its Affiliates, including but
      not limited to, disparaging or derogatory statements or opinions about
      the Company’s or its Affiliates’ management, products or services,
      to any third party. It shall not be a breach of this section for Employee
      to testify truthfully in any judicial or administrative or other governmental
      proceeding or to make statements or allegations in legal filings that are
      based on Employee’s reasonable belief and are not made in bad faith. 

				 
	
   (e)     Enforcement.
      Employee acknowledges that the covenants and agreements of this Section
      7 (“Covenants”) herein are of a special and unique character,
      which give them peculiar value, the loss of which cannot be reasonably
      or adequately compensated for in an action at law. Employee further acknowledges
      that any breach or threat of breach by him of any of the Covenants will
      result in irreparable injury to the Company for which money damages could
      not be adequate to compensate the Company. Therefore, in the event of any
      such breach or threatened breach, the Company shall be entitled, in addition
      to all other rights and remedies which the Company may have at law or in
      equity, to have an injunction issued by any competent court enjoining and
      restraining Employee and/or all other Persons involved therein from committing
      a breach or continuing such breach. The remedies granted to the Company
      in this Agreement are cumulative and are in addition to remedies otherwise
      available to the Company at law or in equity. The Covenants contained in
      this Section 7 are independent of any other provision of this Agreement,
      and the existence of any claim or cause of action which Employee or any
      such other Person may have against the Company shall not constitute a defense
      or bar to the enforcement of any of the Covenants. If the Company is obliged
      to resort to litigation to enforce any of the Covenants which has a fixed
      term, then such term shall be extended for a period of time equal to the
      period during which a material breach of such Covenant was occurring, beginning
      on the date of a final court order (without further right of appeal) holding
      that such a material breach occurred, or, if later, the last day of the
      original fixed term of such Covenant. 

				 
	
   (f)     Acknowledgements.
      Employee expressly acknowledges that the Covenants are a material part
      of the consideration bargained for by the Company, and, without the agreement
      of Employee to be bound by the Covenants, the Company would not have agreed
      to enter into this Agreement. Employee further acknowledges and agrees
      that the Business of the Company and its services are highly competitive
      and that the Covenants contained in this Section 7 are reasonable and necessary
      to protect the Company’s legitimate business interests and Confidential
      Information, and are material conditions to Employee’s employment
      and continued employment with the Company. Employee also acknowledges that
      the Company has invested significant time, effort, resources and expense
      in training its employees and agrees that the restrictions contained in
      this paragraph are reasonable and necessary to protect the Company’s
      investment and legitimate business interests, and to preserve an undisrupted
      workplace.

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   (g)     Scope.
      If any portion of any Covenant or its application is construed to be invalid,
      illegal or unenforceable, then the remaining portions and their application
      shall not be affected thereby, and shall be enforceable without regard
      thereto. If any of the Covenants is determined to be unenforceable because
      of its scope, duration, area or similar factor, then the court or other
      trier of fact making such determination shall modify, reduce or limit such
      scope, duration, area or other factor, and enforce such Covenant to the
      extent it believes is lawful and appropriate. 

				 
	
   (h)     Indemnification.
      Employee shall indemnify, defend and hold harmless the Company in respect
      of all liabilities, charges, damages, losses, expenses, fees, and costs
      of any nature (including reasonable attorney’s fees and costs of
      litigation) that result from a failure by Employee to fully perform or
      comply with any Covenant contained in this Section 7.

			 
	
   8.     Miscellaneous.

			 	 
	
  (a)     Indulgences,
        Etc. Neither the failure, nor any delay, on the part of either party
        to exercise any right, remedy, power or privilege under this Agreement
        shall operate as a waiver thereof, nor shall any single or partial exercise
        of any right, remedy, power or privilege preclude any other or further
        exercise of the same, or of any other right, remedy, power or privilege,
        nor shall any waiver of any right, remedy, power or privilege with respect
        to any occurrence be construed as a waiver of such right, remedy, power
        or privilege with respect to any other occurrence. No waiver shall be
        effective unless it is in writing and is signed by the party asserted
        to have granted such waiver.

			 	 
	
  (b)     Controlling
        Law; Consent to Arbitration; Service of Process.

			 	 	 
	
  (i)     This
      Agreement and all questions relating to its validity, interpretation, performance
      and enforcement (including, without limitation, provisions concerning limitations
      of actions), shall be governed by and construed in accordance with the
      laws of the Commonwealth of Pennsylvania (notwithstanding any conflict-of-laws
      doctrines of such state or other jurisdiction to the contrary), and without
      the aid of any canon, custom or rule of law requiring construction against
      the draftsman.

			 	 	 
	
  (ii)     Except
      to the extent provided for in Section 7 above (relating to injunctive relief
      and other equitable remedies), the Company and Employee agree that any
      claim, dispute or controversy arising under or in connection with this
      Agreement, or otherwise in connection with Employee’s employment
      by the Company or termination of his employment (including, without limitation,
      any such claim, dispute or controversy arising under any federal, state
      or local statute, regulation or ordinance or any of the Company’s
      employee benefit plans, policies or programs) shall be resolved solely
      and exclusively by binding, confidential, arbitration. The arbitration
      shall be held in Philadelphia, Pennsylvania (or at such other location
      as shall be mutually agreed by the parties). The arbitration shall be conducted
      in accordance with the National Rules for the Resolution of Employment
      Disputes (the “Rules”) of the American Arbitration Association
      (“the AAA”) in effect at the time of the arbitration, except
      that the arbitrator shall be selected by alternatively striking from a
      list of five arbitrators supplied by the AAA. All fees and expenses of
      the arbitration, including a transcript if either requests, shall be borne
      equally by the parties, however, all costs for the services of the arbitrator
      shall be borne solely by the Company. Each party is responsible for the
      fees and expenses of its own attorneys, experts, witnesses, and preparation
      and presentation of proofs and post-hearing briefs (unless the party prevails
      on a claim for which attorney’s fees are recoverable under law).
      In rendering a decision, the arbitrator shall apply all legal principles
      and standards that would govern if the dispute were being heard in court.
      This includes the availability of all remedies that the parties could obtain
      in court. In addition, all statutes of limitation and defenses that would
      be applicable in court, will apply to the arbitration proceeding. The decision
      of the arbitrator shall be set forth in writing, and be binding and conclusive
      on all parties. Any action to enforce or vacate the arbitrator’s
      award shall be governed by the Federal Arbitration Act, if applicable,
      and otherwise by applicable state law. If either the Company or Employee
      improperly pursues any claim, dispute or controversy against the other
      in a proceeding other than the arbitration provided for herein, the responding
      party shall be entitled to dismissal or injunctive relief regarding such
      action. 

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  (c)     Notices.
      All notices, requests, demands and other communications required or permitted
      under this Agreement shall be in writing and shall be deemed to have been
      duly given, made and received only when delivered (personally, by courier
      service such as Federal Express, or by other messenger) or when deposited
      in the United States mails, registered or certified mail, postage prepaid,
      return receipt requested, addressed as set forth below:

	 	 	 	 	 	 
	 	 	 	 	(i)	
 If to Employee:

	 	 	 	 	 	 
	 	 	 	 	 	David S. Doll
350 Courtland Ave
Harleysville, PA  19438

	 	 	 	 	 	 
	 	 	 	 	(ii)	
 If to Company:

	 	 	 	 	 	 
	 	 	 	 	 	Impax Laboratories, Inc.

	 	 	 	 	 	30831 Huntwood Avenue

	 	 	 	 	 	Hayward, CA 94544

	 	 	 	 	 	Attention:  Larry Hsu, President

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In addition, notice by mail shall be by air mail if posted outside of the continental United States.

Any party may alter the addresses to which communications or copies are to be sent by giving notice of such change of address in conformity with the provisions of this Section for the giving of notice.

	
   (d)     Assignment
        of Agreement. The rights and obligations of both parties under this
        Agreement shall inure to the benefit of and shall be binding upon their
        heirs, successors and assigns. The Company may assign or otherwise transfer
        its rights under this Agreement, including but not limited to all Covenants
        contained in Section 7 above, to any successor or affiliated business
        or corporation whether by sale of stock, merger, consolidation, sale
        of assets or otherwise. This Agreement may not, however, be assigned
        by Employee to a third party, nor may Employee delegate his duties under
        this Agreement.

				 
	
   (e)     Insurance
        Coverage and Indemnification. To the extent the Company has in place
        a directors' and officers' liability insurance policy (or policies),
        Employee shall be provided with coverage that is no less favorable to
        him in any respect (including, without limitation, with respect to scope,
        exclusions, amounts, and deductibles) than the coverage then being provided
        to any other present or former senior executive or director of the Company.
        In addition, to the extent not inconsistent with the Company’s
        Charter and/or By-Laws, the Company will defend and indemnify Employee
        against, and advance to Employee reasonable expenses incurred or reasonably
        anticipated to be incurred, including attorneys’ and accountants’ fees,
        for or in connection with any proceeding or claim against Employee, whether
        individually or in combination with any other person or entity, relating
        in any manner to Employee’s employment as an employee or officer
        of the Company, to the fullest extent permitted by applicable law, provided
        Employee acted within the scope of his employment with the Company.

				 
	
   (f)     Provisions
        Separable. The provisions of this Agreement are independent of and
        separable from each other, and no provision shall be affected or rendered
        invalid or unenforceable by virtue of the fact that for any reason any
        other or others of them may be invalid or unenforceable in whole or in
        part.

				 
	
   (g)     Gender,
        Etc. Words used herein, regardless of the number and gender specifically
        used, shall be deemed and construed to include any other number, singular
        or plural, and any other gender, masculine, feminine or neuter, as the
        context indicates is appropriate.

				 
	
    (h)     Entire
          Agreement. This Agreement contains the entire understanding among
          the parties hereto with respect to the subject matter hereof, and supersedes
          all prior and contemporaneous agreements and understandings between
          the parties, inducements or conditions, express or implied, oral or
          written, except as herein contained. The express terms hereof control
          and supersede any course of performance and/or usage of the trade inconsistent
          with any of the terms hereof. This Agreement may not be modified or
          amended other than by an agreement in writing.

  

	 

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IN WITNESS WHEREOF, the parties have executed and
delivered this Agreement, intending to be legally bound hereby, as of the date first above written.

	 	 
	 	IMPAX LABORATORIES, INC.

	 	 
	 	By: ________________________________

	 	Name:  

	 	Title:    

	 	 
	 	DAVID S. DOLL

	 	 
	 	____________________________________

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