Document:

Guaranty Contract for
Kailin Energy Zhenjiang Ltd.

800kt/a sulfuric acid
waste heat recovery project

 

Contract parties :

 

China Energy Recovery
(Yangzhou) Co., Ltd (hereinafter referred to as “CER Yangzhou”);

Kailin Energy
Zhenjiang Ltd. (hereinafter referred to as “Zhenjiang Kailin”); and China Guangdong Nuclear Energy Service Co.,
Ltd (hereinafter referred to as “CGN Energy”).

 

Zhenjiang Kailin has
signed the contract “Kailin Energy Zhenjiang Ltd. equipment supply and engineering services for 800kt/a sulfuric acid waste
heat recovery project” (Contract No: HT2012ISC007) and its supplemental contracts (hereinafter referred to as “waste
heat recovery upgrading project contract”) with CGN Energy on October 17, 2012.

 

According to the "waste
heat recovery upgrading project contract", CER Yangzhou will provide CGN Energy an unconditional and irrevocable guarantee
with joint responsibility to ensure Zhenjiang Kailin’s fulfillment of the duties and responsibilities under "waste heat
recovery upgrading project contract". After the tripartite consultation, CER Yangzhou is willing to perform the following
responsibilities, as the basis for cooperation among all of the three parties.

 

Article 1: Guaranteed
claims

The guaranteed claims
under the contract arising from the obligations under the "waste heat recovery upgrading project contract" that Zhenjiang
Kailin shall fulfill its obligations to CGN Energy, means that CGN Energy is entitled to rights as a creditor against Zhenjiang
Kailin under the terms of the "waste heat recovery upgrading project contract”.

 

Article 2: Guarantee
covers

(1) Zhenjiang Kailin
shall pay all amounts payable to CGN Energy arising from the “waste heat recovery upgrading project contract”, such
as contract prices, penalty, damages, and payments for the use of state funds and so on.

 

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(2) All the expenses that CGN Energy incurred to enforce its rights as a creditor of Zhenjiang Kailin (including but not limited
to legal fees, arbitration fees, property preservation fees, travel fees, execution fees, assessment fees, legal fees, auction
fees and so on).

 

Article 3: Ways of
guaranty

CER Yangzhou voluntarily
provides this guarantee. CGN Energy has the right to directly request CER Yangzhou to undertake the payment obligation under scope
of the guaranty contract, even if there is more than one guarantor and there is joint liability between them. CER Yangzhou confirms
that CER Yangzhou can not have any plea if Zhenjiang Kailin fails to fulfill its obligations under "waste heat recovery upgrading
project contract".

 

Article 4: Terms of
guaranty

The guaranty shall terminate
two years after Zhenjiang Kailn fulfills its obligations under the "waste heat recovery upgrading project contract".
If the "waste heat recovery upgrading project contract" is found to be invalid or terminated, the guaranty period shall
be two years from the date the "waste heat recovery upgrading project contract" was found to be invalid or terminated.

 

Article 5: 

If Zhenjiang Kailin defaults
or cannot fulfill its obligations under the "waste heat recovery upgrading project contract", CGN Energy should the first
attempt to realize compensation from the mortgage of the equipment under the contract of HT2012ISC010 for the production line of
Zhenjiang Kailin’s 800kt/a sulfuric acid waste heat recovery project and the guarantee of Jiangsu SOPO (Group) Company. The
guarantee under this contract is independent and accumulated to any other guarantee which CGN Energy has or will obtain, and this
guarantee will be not reduced or affected by any other guarantee which CGN Energy has or will obtain in any way. CGN Energy realized
guarantee under this agreement will not in condition of undertaking any other guarantee. CER Yangzhou agreed, if CGN Energy fails
to perform the rights related to this contract (including but not limited to the right of claim, right of guarantee and right of
relief), in any case, which is not equal to CGN Energy abandon that rights, and will not have an impact on perform the rights completely
under this agreement.

 

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Article 6: Claims
and Confirmations

Zhenjiang Kailin and
CGN Energy should amend the contract price, period, penalty, damages, rights and obligations and so on in "waste heat recovery
upgrading project contracts.” CER Yangzhou confirms that CER Yangzhou’s guarantee liability will not terminate, and
do not require the consent of CER Yangzhou, if there is any changes in the terms of the “"waste heat recovery upgrading
project contract" between Zhenjiang Kailin and CGN Energy. However, any addition to the contract price shall require the consent
of CER Yangzhou, or else CER Yangzhou will not have any guarantee responsibility for the additional price.

 

Article 7: Other Contract
Related

The effect of the guarantee
contract is independent of the "waste heat recovery upgrading project contract" and its possible affiliations. The validity
of all or part of the "waste heat recovery upgrading project contract" does not affect the validity of the guaranty contract.
If the "waste heat recovery upgrading project contract" signed between Zhenjiang Kailin and CGN Energy is invalid and
both of them are in default, CER Yangzhou will assume the joint responsibility according to the amount of compensation that Zhenjiang
Kailin should undertake. Any contracts, agreements, guarantees, tacit understanding or disputes among Zhenjiang Kailin, CGN Energy
and CER Yangzhou will have no influence to the validity of this guarantee contract. The guarantee of CER Yangzhou will not be reduced
or eliminated if there is any merger, split, joint-stock reform, changes in capital, joint ventures, or other similar circumstances
affecting Zhenjiang Kailin and CGN Energy during the contract period

 

Article 8: Other Clauses

During the guarantee
period, CER Yangzhou will be requested for the guaranteed responsibility if there is any breach of contract under the "waste
heat recovery upgrading project contract" or if CGN Energy regards that an event happened that affects its ability on realizing
its claims.

 

Article 9: Representations
and Warranties

CER Yangzhou
guarantee :

 

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1. The provided guarantee
to CGN Energy is legal, complete, true and effective;

2. CER Yangzhou’s
financial station is sufficient to ensure the capability of fulfilling the guarantee; CER Yangzhou is willing to fulfill the responsibility
with all its properties;

3. The provided guarantee
procedure is legal and effective;

4. There is no matter
undisclosed that should be, there is no case for infringement of legal rights of third parties, otherwise CER Yangzhou will assume
all the legal responsibility arising from the dispute and compensate all the losses to CGN Energy;

5. In the meantime, CER
Yangzhou will assume all the cost rising from the process allowing CGN Energy to achieve its own claims (including: evaluate and
auction fee, litigation costs, implementation costs, counsel fees etc.)

 

Article 10: Effective

		1.	This contract shall take effect from the date of signing;

		2.	For the actual situation, each party can amend this agreement in the confirmed supplement after
negotiation;

		3.	If there are any disputes based on this agreement, the contracting parties could attempt to resolve
them through consultation. If negotiation fails, either party may bring proceedings in a court of law. This Contract shall be governed
by and interpreted in accordance with the law of the People's Republic of China;

		4.	The contract is in three duplicates, one copy for each party;

 

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( Signature page,
no text )

 

Contract party :

 

CER Energy Recovery (Yangzhou)
Co., Ltd  ( Stamp )

 

Signature

 

Kailin Energy Zhenjiang,
Ltd. ( Stamp )

 

Signature

 

China Guangdong Nuclear
Energy Service Co., Ltd (Stamp)

 

Signature

 

    	5Exhibit 10.6

 

September 21, 2012

 

Elite Pharmaceuticals, Inc.

165 Ludlow Avenue

Northvale, NJ 07647

 

Attention: Chris Dick

   President

 

		Re:	First Amendment

TPN-Elite Manufacturing and Supply Agreement
dated June 23, 2011

 

Gentlemen:

 

ThePharmaNetwork, LLC, a New Jersey limited
liability company and its wholly owned subsidiary, Ascend Laboratories, LLC (together "TPN"), and Elite Pharmaceuticals,
Inc. and Elite Laboratories, Inc. (a subsidiary of Elite Pharmaceuticals, Inc.), both Delaware corporations (together "ELITE")
are parties to certain manufacturing and supply agreement effective as of June 23, 2011 (the “Agreement”). All capitalized
terms used without definition in this letter agreement have the respective meanings provided in the Agreement.

 

Effective as of the date of this letter
agreement, the parties agree that sections 7.1 9.3. 2.7 and 3.3 of, and Exhibit A attached to, the Agreement are amended in their
entirety and, as amended, read as follows:

 

Section 7.1.           Term. The initial term
(the “Initial Term”) of this Agreement shall commence on the Effective Date and shall continue until December 31, 2014;
thereafter, the term of this Agreement shall be extended for one (1) year terms (each a “Renewal Term”) upon the mutual
written agreement of the Parties entered into at least six (6) months prior to the expiration of the Initial Term or a Renewal
Term. 

 

Section 9.3.            Notices . Except as
otherwise specifically provided, any notice or other documents to be given under this Manufacturing Agreement shall be in writing
and shall be deemed to have been duly given if sent by registered mail, nationally recognized overnight delivery service or facsimile
transmission to a Party or delivered in person to a Party at the address or facsimile number set out below for such Party or such
other address as the Party may from time to time designate by written notice to the other: 

 

If to ELITE: Elite Pharmaceuticals, Inc. 

 

165 Ludlow Avenue

Northvale, NJ 07647

Attention: President

Facsimile: 201-750-2755

 

with a copy to: Silverman Sclar Shin & Byrne PLCC

381 Park Avenue South

New York, New York 10016

 

Attn: Richard Feiner

Facsimile: 917-720-0863

 

{***} Confidential portions of this exhibit have been redacted
and filed separately with the Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities
Exchange Act of 1934, as amended

 

    	 

    	 

    

 

If to TPN: ThePharmaNetwork, LLC 

180 Summit Avenue, Suite 200Montvale, NJ 07645 

Attention: George Solomon, COO

Facsimile: 201-476-1987

 

with a copy to: 

ThePharmaNetwork, LLC

180 Summit Avenue, Suite 200

Montvale, NJ 07645

Attention: Allen Bagatsing, Esq. /Chief Legal Counsel

Facsimile: 201-476-1987

 

Any such notice provided pursuant to this Section 9.3 shall
be deemed to have been received by the addressee five business days following the date of dispatch of the notice or other document
by mail or, where the notice or other document is sent by overnight delivery service, by hand or is given by facsimile, simultaneously
with the transmission or delivery. To prove the giving of a notice or other document it shall be sufficient to show that it was
dispatched. Either Party may change its address at which notice is to be received by written notice provided pursuant to this Section
9.3. 

 

Section 3.3.           Invoicing and Payment.
Payment terms by TPN for Product supplied by ELITE hereunder meeting Product Specifications shall be net 30 days by check or wire
transfer, and shall be made without set-off and free and clear of, and without any deduction or withholding for or on account of
any taxes, duties, levies, fees or charges, except as otherwise permitted under this Manufacturing Agreement. Product shall be
invoiced no sooner than the date of shipment by ELITE. If TPN disputes any invoice, TPN shall notify ELITE that it disputes the
accuracy of such invoice specifying in particularity such inaccuracy. TPN and ELITE shall make good faith efforts to resolve any
disputes within fifteen (15) days thereafter and subject to Section 7.2 a (iii). Any amounts that are disputed shall be due upon
the resolution of such dispute. 

 

Section 2.7.            Delays. During the Term
of this Manufacturing Agreement, if ELITE is not able to timely meet Product orders submitted by TPN pursuant to Section 2.2, ELITE
shall promptly notify TPN of the reason for the delay and the date delivery of Product is expected to occur. If shipment is delayed
more than ten (10) business days beyond the date of delivery for reasons other than API supply (including DEA quota issues), then
ELITE shall be responsible for any and all customer bill back penalty actually incurred and documented by TPN to be paid by ELITE
within fifteen (15) days from receipt of such invoice. 

 

{***} Confidential portions of this exhibit have been redacted
and filed separately with the Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities
Exchange Act of 1934, as amended 

 

    	 

    	 

    

 

Exhibit A- Product and Purchase Price and Minimum Annual Volume
Requirements

 

	Product	 	Mg	 	 Bottle
 Size 	 	Firm Cost Per
 Bottle exclusive of
 API FOB Elite	 	Minimum
 Annual
 Volume
	Methadone Hydrochloride 

10 mg Tablets, ANDA #090635	 	10mg	 	 100's	 	Manufacturing Cost

 ${***}1 (see notes below) 	 	
        {***}

        Bottles

 

 

1. All bottles manufactured in excess of {***} bottles each
calendar year, shall be at a firm cost per bottle exclusive of API FOB Elite of ${***}.

 

NOTES: The purchase price includes all costs except API cost
which is the obligation of TPN and is firm during the term of the Agreement.

 

ELITE shall produce Product in batch sizes between {***}
bottles to {***} bottles per batch. Elite will begin with the smaller batch sizes and increase batch size as necessary. Starting
no later than January, 2013 orders shall be manufactured based on a batch size of {***} bottles. 

 

Provided that TPN will give Elite 90 days advance notice,
Elite shall accept and be able to guarantee the manufacturing of up to {***} bottles/year.

 

During the 12 months ending December 31, 2014 and upon TPN’s
written request, Elite must be able to manufacture up to{***} bottles/year.

 

ELITE may also, from time to time, subcontract to Epic Pharma,
LLC for bottling of batches but at its earliest, will transfer the packaging operations to its own facility.

 

Except as expressly modified by this letter agreement, the parties
agree that the Agreement will continue in full force and effect in accordance with its terms.

 

If the foregoing correctly sets forth our agreement and understanding,
please execute the enclosed counterpart of this letter agreement and return the executed counterpart to the undersigned at your
convenience.

 

(Space left intentionally blank, signature
page follows)

 

{***} Confidential portions of this exhibit have been redacted
and filed separately with the Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities
Exchange Act of 1934, as amended 

 

    	 

    	 

    

 

THEPHARMANETWORK, LLC

 

	By	/s/	 
	Name:	George Solomon	 
	Title:	COO	 

 

Accepted and agreed as of this September __, 2012

 

ELITE PHARMACEUTICALS, INC.

 

	By	/s/	 
	Name:	Chris Dick	 
	Title:  	President	 

 

{***} Confidential portions of this exhibit
have been redacted and filed separately with the Commission pursuant to a confidential treatment request in accordance with Rule
24b-2 of the Securities Exchange Act of 1934, as amended

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