Document:

exv10w1

 

Exhibit 10.1

*Confidential Treatment Requested Under

17 C.F.R. §§ 200.80(b)(4) and 240.24b-2

FIFTH AMENDMENT TO 

OEM AGREEMENT

     This Fifth Amendment to OEM Agreement, (“Amendment”) is made and entered into as of November 28,
2006 (“Amendment Date”), by and between Akorn-Strides, LLC, a Delaware limited liability company,
having a principal place of business at 2500 Millbrook Drive, Buffalo Grove, Illinois 60089-4694,
United States of America (“A-S”), and Strides Arcolab Limited, a company organized under the laws
of India having a principal place of business at Strides House, Bilekahalli, Bannerghatta Road,
Bangalore 560 076, India (“Strides”), (each a “Party” and collectively the “Parties”).

RECITALS

     A. A-S and Strides are parties to that certain OEM Agreement dated September 22, 2004
(“Agreement”) and desire to amend the Agreement to revise the ANDA Schedule, pursuant to the terms
and conditions of this Amendment.

     B. A-S and Strides desire to further amend the Agreement to provide for the payment to Strides
of the additional amount of [...*...] United States Dollars [...*...] as additional Registration
Costs for the development of additional Products.

NOW, THEREFORE, in consideration of the mutual promises contained herein and other valuable
consideration, the sufficiency of which is hereby acknowledged, the Parties agree as follows:

1. Definitions. All capitalized terms used herein shall have the same meanings set forth
in the Agreement, unless otherwise defined in this Amendment.

2. Modification of ANDA Schedule. Exhibit B of the Agreement is deleted in its entirety
and replaced with Exhibit B-1 attached hereto and fully incorporated herein.

3. Adption of Additional ANDA Schedule. Exhibit B-2, attached hereto and fully
incorporated herein, is added to the Agreement as its new Exhibit B-2. Exhibit A of the Agreement
is additionally hereby modified as required to include all products set forth in Exhibit B-2, each
of which shall be henceforth deemed a “Product” under the Agreement.

4. Abandonment of [...*...]. The Parties acknowledge that A-S had previously paid an
additional [...*...] Dollars [...*...] to Strides as additional Registration Costs for [...*...].
The Parties further acknowledge and agree that the [...*...] project is hereby abandoned and that
the [...*...] Dollars [...*...] received from A-S as additional Registration Costs therefor shall
be reallocated fully to Registration Costs set forth on Exhibit B-1.

5. Funding of Registration Costs. Section 2.3.2 of the Agreement is deleted in its
entirety and replaced with the following:

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

Page 1

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

 

 

*Confidential Treatment Requested Under

17 C.F.R. §§ 200.80(b)(4) and 240.24b-2

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

6. Counterparts. This Amendment may be executed in several counterparts that together
shall be originals and constitute one and the same instrument.

7. Effect. Except as modified above, the Agreement shall remain in full force and effect
in accordance with its specific terms.

IN WITNESS WHEREOF, the parties hereto, through their duly authorized officers, have executed this
Amendment as of the Amendment Date.

	 	 	 	 	 	 	 	 
	Akorn-Strides, LLC

	 	Strides Arcolab Limited
	 
	 
	By:

	 	/s/ Arthur S. Przybyl
	 	By:
	 	/s/ Arun Kumar
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Name:

	 	Arthur S. Przybyl
	 	Name:
	 	Arun Kumar
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Its:

	 	Member Manager
	 	Its:
	 	Executive Vice Chairman & MD
	 

	 	 
	 	 	 	 
	

	 	 	 	 	 	 
	

	 	 	 	 	 	 
	

	 	 	 	 	 	 

Page 2

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

 

 

*Confidential Treatment Requested Under

17 C.F.R. §§ 200.80(b)(4) and 240.24b-2

EXHIBIT B-1

ANDA SCHEDULE

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	Sl.	 	 	 	 	 	 	 	Dossier Cost	 	 	 	 
	No.	 	Product Name	 	Strength	 	 	 	(USD)	 	Remarks	 	Status of Dossier
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	1

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	2

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	3

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	4

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	5

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	6

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	7

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	8

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	9

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	10

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	11

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	 

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	12

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	 

	 	 	 	 	 	 	 	[...*...]
	 	[...*...]	 	 
	13

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	14

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	15

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	16

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	 

	 	 	 	 	 	 	 	[...*...]
	 	[...*...]	 	 
	17

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Semi-exclusive **  
	18

	 	[...*...]
	 	 	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	19

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	Exclusive
	 

	 	 	 	 	 	 	TOTAL
	[...*...]	 	 	 	 

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

 

 

*Confidential Treatment Requested Under

17 C.F.R. §§ 200.80(b)(4) and 240.24b-2

The above billing includes:

          (i) Addtitional development of [...*...]

          (ii) Additional batches of [...*...]

          (iii) Additional batches of [...*...]

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

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

 

 

*Confidential Treatment Requested Under

17 C.F.R. §§ 200.80(b)(4) and 240.24b-2

EXHIBIT B-2

ADDITIONAL ANDA SCHEDULE

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 
	Sl.	 	 	 	 	 	 	 	Dossier Cost	 	 	 	 	 	 
	No.	 	Product Name	 	Strength	 	 	 	(USD)	 	Remarks	 	ANDA Filing	 	Status of Dossier
	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	1

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	[...*...]
	 	Exclusive
	2

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	 	 	[...*...]
	 	Exclusive
	 

	 	 	 	[...*...]	 	 	 	 	 	 	 	 	 	 
	3

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	 	 	[...*...]
	 	Exclusive
	 

	 	 	 	[...*...]	 	 	 	 	 	 	 	 	 	 
	4

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	[...*...]
	 	Exclusive
	5

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	[...*...]
	 	Exclusive
	 

	 	 	 	[...*...]	 	 	 	 	 	 	 	 	 	 
	6

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	 	 	[...*...]
	 	Exclusive
	7

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	 	 	[...*...]
	 	Exclusive
	 

	 	 	 	[...*...]	 	 	 	 	 	 	 	 	 	 
	8

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	[...*...]
	 	Exclusive
	 

	 	 	 	[...*...]	 	 	 	 	 	 	 	 	 	 
	9

	 	[...*...]
	 	[...*...]
	 	 	 	[...*...]
	 	[...*...]
	 	[...*...]
	 	Exclusive
	 

	 	 	 	[...*...]	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	[...*...]	 	 	 	 	 	 	 	 	 	 
	10

	 	 	 	[...*...]	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	[...*...]	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	[...*...]
	 	 	 	 	 	 	 	[...*...]
	 	Exclusive
	 

	 	 	 	 	 	TOTAL
	 	 [...*...]	 	 	 	 	 	 

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

 

 

*Confidential Treatment Requested Under

17 C.F.R. §§ 200.80(b)(4) and 240.24b-2

RLDs to be supplied by A-S: The above costs are not inclusive of RLDs. Timelines indicated are
based on best efforts and any changes will be discussed between the two Parties and, upon mutual
agreement by the Parties, will not invoke any penalty clauses

* CONFIDENTIAL TREATMENT REQUESTED — This language has been omitted and filed separately with the Securities and Exchange Commission.exv10w2

 

Exhibit 10.2

FIRST AMENDMENT TO

OEM AGREEMENT

This First
Amendment to OEM Agreement, (“Amendment”) is made and entered into as of December 8,
2004 (“Amendment Date”), by and between Akorn-Strides, LLC, a Delaware limited liability company
having a principal place of business at 2500 Millbrook Drive, Buffalo Grove, Illinois 60089-4694,
United States of America (“A-S”), and Strides Arcolab Limited, a company organized under the laws
of India having a principal place of business at Strides House, Bilekahalli, Bannerghatta Road,
Bangalore 560 076, India (“Strides”), (each a “Party” and collectively the “Parties”).

RECITALS

     A. A-S and Strides are parties to that certain OEM Agreement dated September 22, 2004
(“Agreement”);

     B. A-S and Strides desire to amend the Agreement to provide for different obligations with
respect to the Letter of Credit (as defined in the Agreement), pursuant to the terms and conditions
of this Amendment.

NOW, THEREFORE, in consideration of the mutual promises contained herein and other valuable
consideration, the sufficiency of which is hereby acknowledged, the Parties agree as follows:

1.   Definitions. All capitalized terms used herein shall have the same meanings set forth
in the Agreement, unless otherwise defined in this Amendment.

2.   Letter of Credit.

     2.1 Section 3.8.1 of the Agreement is hereby deleted in its entirety and replaced with the
following:

3.8.1 The Letter of Credit shall be opened within five (5) days from the Amendment
Date and shall have an initial term of one year. All bank charges in respect of the
Letter of Credit are for the account of Strides. The Letter of Credit shall provide
for payment of the entire Letter of Credit amount, or One Million Two Hundred Fifty
Thousand United States Dollars (US $1,250,000), to A-S in the event that (i)
Strides fails to achieve the Registration Threshold prior to the lapse of the period
beginning with the Effective Date and ending on the one year anniversary thereof
(“Threshold Period”), and fails to cure such failure within ninety (90) days
thereafter; or (ii) Strides fails, within six months of the Amendment Date either to
(Y) deliver to A-S a new acceptable Letter of Credit, with an initial term ending on
or after a date that is one year and six months from the Effective Date; or (Z)
renew the term of the Letter of Credit such that the term thereof will end on or
after a date that is one year and six months from the Effective Date.

Page 1

 

     2.2 Sections 3.8.2, 3.8.3, 3.8.4, and 3.8.5 are hereby renumbered as Sections 3.8.3, 3.8.4,
3.8.5, and 3.8.6; all existing references in the Agreement to Sections 3.8.2, 3.8.3, 3.8.4, and
3.8.5 are hereby renumbered to read 3.8.3, 3.8.4, 3.8.5, and 3.8.6; and the following text is
hereby inserted in the Agreement as a new Section 3.8.2:

3.8.2 Provided that the Registration Threshold has not already been achieved by
Strides at such time, should Strides fail to, within six months of the Amendment
Date, either (Y) deliver to A-S a new acceptable Letter of Credit, with an initial
term ending on or after a date that is one year and six months from the Effective
Date; or (Z) renew the term of the Letter of Credit such that the term thereof will
end on or after a date that is one year and six months from the Effective Date, then
A-S shall, without notice to Strides, receive payment of the entire Letter of
Credit.

3.   Counterparts. This Amendment may be executed in several counterparts that together
shall be originals and constitute one and the same instrument.

4.   Effect. Except as modified above, the Agreement shall remain in full force and effect
in accordance with its specific terms.

IN WITNESS WHEREOF, the parties hereto, through their duly authorized officers, have executed this
Amendment as of the Amendment Date.

	 	 	 	 	 	 	 	 
	Akorn-Strides, LLC

	 	Strides Arcolab Limited
	 
	 
	By:

	 	/s/ Arthur S. Przybyl
	 	By:
	 	/s/ Arun Kumar
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Name:

	 	Arthur S. Przybyl
	 	Name:
	 	Arun Kumar
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Its:

	 	Pres & CEO
	 	Its:
	 	Managing Director
	 

	 	 
	 	 	 	 
	

	 	 	 	 	 	 
	

	 	 	 	 	 	 
	

	 	 	 	 	 	 

Page 2

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