Document:

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                                                                   EXHIBIT 10.27

                                    AGREEMENT

         This Agreement ("Agreement") is made between Caraco Pharmaceutical
Laboratories, Ltd. (the "Company") and Narendra N. Borkar ("Borkar") as of the
date set forth above the parties' signatures below.

                                    RECITALS

         Borkar has been employed as the Chief Executive Officer, President and
Treasurer of the Company. Borkar and the Company entered into that certain
Employment Agreement dated September 22, 1998 (the "Employment Agreement"). The
Employment Agreement provides for a term of five years and then automatically
renews for successive one year periods unless notice is provided 90 days prior
to any renewal. The Employment Agreement automatically renewed for the period
September 22, 2003 to September 21, 2004. Among other things, in the event
Borkar terminates without cause, the Employment Agreement provides Borkar with
no severance package and includes extensive non-compete restrictions.

         Borkar wishes to retire effective the close of business on September
30, 2003 (the "Retirement Date"). The parties recognize Mr. Borkar's
contributions to the success of the Company and wish to accommodate Mr. Borkar's
desire to retire on the Retirement Date pursuant to the agreements set forth
below.

         ACCORDINGLY, IT IS AGREED as follows:

         1.       RESIGNATION. Borkar voluntarily resigns employment with the
         Company effective the close of business on the Retirement Date.
         Borkar's resignation includes without limitation his resignation from
         all officer positions with the Company, including his positions as
         Chief Executive Officer, President and Treasurer of the Company as set
         forth in the written and signed letter of resignation included as
         Exhibit A hereto. Borkar also agrees to resign as a director of the
         Company if he, directly or indirectly (and whether or not for
         compensation), works for, is employed by, owns, manages, operates,
         controls, finances, participates or engages in, or has any interest in,
         any person, firm, entity, partnership, limited partnership, limited
         liability company, corporation or business which engages in the
         Business as defined in the Employment Agreement whether as an employee,
         owner, sole proprietor, partner, adventurer, member, shareholder,
         officer, director, agent, creditor, consultant or in any capacity which
         calls for the rendering of personal services, advice, acts of
         management, operation or control (except with respect to Sun
         Pharmaceutical Industries Limited and its affiliates).

         2.       RETIREMENT PAYMENT. The Company shall pay to Borkar, as a
         retirement payment, his base salary at the annual rate of $156,000,
         less applicable deductions and withholding, payable bi-weekly
         commencing October 1, 2003 through March 31, 2004, in accordance with
         the Company's regular payroll procedures and prorated accordingly
         ("Retirement Payment"). The Company shall report such payments as
         income to Borkar with the filing of W-2 forms. Except as set forth in
         this Agreement, Borkar shall not receive any other compensation from
         the Company including, without limitation, Borkar shall not be paid any
         bonus or incentives for 2003. Borkar's compliance with this Agreement
         is a condition to the Company's obligations to pay the Retirement
         Payment or any installments thereof and to provide the benefit
         continuation under Section 3 and the benefits under Section 4.

         3.       CONTINUATION OF CERTAIN BENEFITS. All benefits to Borkar from
         the Company shall terminate as of the Retirement Date, except as
         provided in Sections 2 and 4 and as follows:

                  (d)      Health and life insurance will be continued at
                           Company cost through March 31, 2004.

                  (e)      Borkar shall be paid for accrued but unused vacation
                           through the Retirement Date.

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                  (f)      Borkar shall receive a monthly car allowance of $380
                           through March 31, 2004.

                  (g)      Borkar shall receive a contribution of $5,400 for his
                           retirement account in January 2004.

                  (h)      Borkar shall receive two weeks "vacation" pay to be
                           paid for the two week period ending April 14, 2004.

         4.       VESTING OF OPTIONS. The Company agrees that Borkar's option
         for 40,000 shares of its Common Stock which was part of the grant of
         options to purchase 200,000 shares of Common Stock under the Company's
         1999 Equity Participation Plan (the "1999 Plan"), and which under the
         current terms of Borkar's Option Agreement become exercisable on June
         2, 2004, is hereby accelerated and shall become exercisable commencing
         October 2, 2003. The Company further agrees that Borkar's options under
         the 1999 Plan which are currently exercisable (and the option for
         40,000 shares made exercisable pursuant to this Section 4) shall not
         expire within 90 days following the termination of Borkar's employment
         (i.e., 90 days from the Retirement Date), but, rather, shall expire 90
         days from the date Borkar ceases to be a director of the Company.

         5.       RETURN OF COMPANY PROPERTY. Except as otherwise set forth in
         this Agreement, Borkar agrees on the Retirement Date to return all
         property of the Company including, without limitation, all keys, access
         passes, parking sticker, credit cards, computers, equipment, software
         and all Company records and documents (without retaining any copies
         thereof).

         6.       DUTIES AS TO CONFIDENTIAL INFORMATION AND NONINTERFERENCE.
         Borkar agrees that Section 7 of the Employment Agreement will remain in
         full force and effect until the Retirement Date. After the Retirement
         Date, Borkar agrees that (i) he will keep confidential and not disclose
         any and all Confidential Information of the Company as defined in and
         pursuant to the terms and conditions of Section 7 of the Employment
         Agreement, and (ii) also pursuant to the terms and conditions of
         Section 7 of the Employment Agreement, he will not, directly or
         indirectly, during the thirty-six (36) month period following the
         Retirement Date, induce or attempt to induce, any person who is an
         employee or consultant of the Company to leave the employ or consulting
         relationship with the Company. For purposes of clarification, on and
         after the Retirement Date, except with respect to the surviving
         provisions of Section 7 of the Employment Agreement relating to
         confidentiality and the prohibition on Borkar's inducing employees or
         consultants to leave the employ or consulting relationship with the
         Company, the other non-compete provisions of Section 7 of the
         Employment Agreement will not be in effect or applicable to Borkar.
         This Section 6 shall not apply to any such Confidential Information
         which is or becomes in the public domain and/or in the generic drug
         industry through no action on the part of Borkar, was available to
         Borkar on a non-confidential basis from sources other than the Company
         or its representatives or advisors, is known, through no action on the
         part of Borkar, to a generic drug company which employs Borkar, is
         generally disclosed to third parties by the Company without restriction
         on such third parties, or is approved for release by written
         authorization of the Company.

         7.       REPRESENTATIONS. Borkar represents that he has been advised by
         the Company that he should consult with an attorney before executing
         this Agreement.

         8.       Miscellaneous.

                  (a)      This Agreement constitutes the entire agreement
                           between Borkar and the Company and supersedes any
                           prior or contemporaneous promises, agreements or
                           representations except as otherwise set forth in this
                           Agreement. This Agreement cannot be modified orally
                           but only in a written document signed by Borkar and
                           an authorized representative of the Company.

                  (b)      This Agreement shall be governed by the laws of the
                           State of Michigan.

                  (c)      The captions and headings of the Sections of this
                           Agreement are for convenience of reference

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                           only and are not to be considered in construing this
                           Agreement. This Agreement accurately sets forth the
                           intent and understanding of each party. This
                           Agreement shall not be construed for or against
                           either party as a result of the drafting hereof if
                           there is any dispute over the meaning or intent of
                           any of its provisions.

                  (d)      If any provision of this Agreement, in whole or in
                           part, is determined to be unlawful or unenforceable,
                           the parties agree that such provision shall be deemed
                           modified, if possible, to the extent necessary to
                           render such provision valid and enforceable to the
                           maximum extent permitted by law and, if not possible,
                           it shall be severed from the Agreement. In either
                           event all remaining provisions of this Agreement
                           shall remain in full force and effect.

                  (e)      This Agreement may be executed in counterparts, which
                           together shall be considered as if one Agreement. A
                           photocopy of this Agreement is effective as an
                           original.

                  (f)      The parties acknowledge that as of the Retirement
                           Date, they have no claims and/or causes of action of
                           any nature against each other except that any claims
                           and/or causes of action prior to the Retirement Date
                           regarding fraud, breach of fiduciary duty,
                           dishonesty, reckless or willful misconduct, gross
                           negligence, embezzlement, conversion, self dealing or
                           criminal conduct are expressly preserved. In
                           addition, the parties retain all rights against each
                           other with respect to their obligations and
                           responsibilities under this Agreement.

         Executed effective as of 2nd day of October, 2003.

                                   READ BEFORE SIGNING

Witness:

-------------------------------         /s/ Narendra N. Borkar
                                        ----------------------
                                        Narendra N. Borkar

                                        Caraco Pharmaceutical Laboratories, Ltd.

-------------------------------         By: /s/ Jitendra N. Doshi
                                            ---------------------
                                                Jitendra N. Doshi
                                        Its:    Chief Operating Officer

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                                    EXHIBIT A

I resign as Chief Executive Officer, President and Treasurer of Caraco
Pharmaceutical Laboratories, Ltd. effective September 30, 2003. A photocopy of
this resignation is effective as an original.

Date: 2nd day of October, 2003               /s/ Narendra N. Borkar
                                             ----------------------
                                             Narendra N. Borkar<PAGE>

                                  EXHIBIT 10.53

                           DIRECTOR STOCK OPTION PLAN

<PAGE>

                                                                   EXHIBIT 10.53

                        COMMUNITY SHORES BANK CORPORATION
                           DIRECTOR STOCK OPTION PLAN

         1. NAME AND PURPOSE. This plan shall be called the Community Shores
Bank Corporation Director Stock Option Plan (this "Plan"). This Plan is intended
to (a) encourage stock ownership by Nonemployee Directors (as defined below) of
Community Shores Bank Corporation (the "Company") or any of the Company's
subsidiaries that adopts this Plan (including, corporate, limited liability
company and other direct and indirect subsidiaries, individually, a "Subsidiary"
and collectively, the "Subsidiaries"), (b) to provide such directors with an
additional incentive to effectively manage the Company or the Subsidiaries and
to contribute to their success, and (c) to provide a form of compensation which
will attract and retain highly qualified individuals to serve as directors.

         2. EFFECTIVE DATE AND TERM OF THE PLAN. This Plan shall become
effective with respect to the Company upon the date of its approval (the
"Effective Date") by the Company's Board of Directors (the "Company Board"), and
shall become effective with respect to a Subsidiary upon the date of its
approval by the Board of Directors of the Subsidiary. However, this Plan is
subject to approval by the Company's shareholders, and if such shareholder
approval is not granted within twelve (12) months of the Effective Date, this
Plan shall terminate. Grants of options may be made prior to such shareholder
approval, but any options granted shall not be exercisable prior to such
shareholder approval, and shall automatically terminate if shareholder approval
is not given. No option may granted under this Plan after March 1, 2013;
provided, however, that all options outstanding as of that date shall remain or
become exercisable pursuant to their terms and the terms of this Plan. The
period from the Effective Date through March 1, 2013 is referred to in this Plan
as the "Term of this Plan." The Company Board and the boards of directors of all
of the Subsidiaries are collectively referred to in this Plan from time to time
as the "Board of Directors" or the "Board," and the shareholders of the Company
and of the Subsidiaries are collectively referred to in this Plan from time to
time as the "Shareholders."

         3. ADMINISTRATION. This Plan shall be administered by a Committee of
not less than two members of the Company Board (the "Committee"), none of whom
may be an employee of the Company or any Subsidiary, and each of whom must
qualify as a "Non-Employee Director" as defined in Rule 16b-3(b)(3) promulgated
by the Securities and Exchange Commission (the "SEC") pursuant to the Securities
Exchange Act of 1934, as amended (the "34 Act"). The members of the Committee
shall be appointed by the Company Board, who may, from time to time, change the
members who serve on the Committee.

         The Committee may, from time to time, establish such regulations,
provisions and procedures, within the terms of this Plan, as in the opinion of
its members may be advisable in the administration of this Plan. The Committee
shall keep minutes of its meetings. A majority of the Committee shall constitute
a quorum, and the acts of a majority of a quorum at any meeting, or acts reduced
to or approved in writing by a majority of the members of the Committee, shall
be the valid acts of the Committee.

         The interpretation and construction by the Committee of any provisions
of this Plan or of any option granted pursuant to this Plan shall be final and
binding upon the Company, each Subsidiary, the Board of Directors, the
Shareholders, any optionee and any Permitted Transferee
<PAGE>

(as defined below). No member of the Board of Directors or the Committee shall
be liable for any action or determination made in good faith with respect to the
Plan or any option granted pursuant to the Plan.

         4. PARTICIPATION. Subject to the limitations contained in this Section
4, any Nonemployee Director (as defined below), may be granted options to
purchase shares of the Company's common stock ("Common Stock") in accordance and
consistent with the terms and conditions of this Plan. An optionee or a
Permitted Transferee may hold more than one option, but only on the terms and
subject to the restrictions set forth in this Plan. The Committee shall from
time to time determine (from those who are eligible) the directors to be granted
options, the amount of stock to be optioned to each director, and the terms and
conditions of the options to be granted. The amount and other terms and
conditions of options granted to a director at any given time need not be the
same as for any other grant of options. A Nonemployee Director is any director
of the Company or a Subsidiary who is neither a contractual nor common law
employee of the Company or a Subsidiary.

         5. STOCK AVAILABLE FOR OPTIONS. Subject to the adjustments as provided
in Section 6(g), the aggregate number of shares of Common Stock (the "Shares")
reserved for purposes of the Plan shall be twenty thousand authorized and
unissued Shares or issued Shares reacquired by the Company. Determinations as to
the number of Shares that remain available for issuance under the Plan shall be
made in accordance with such rules and procedures as the Committee shall
determine from time to time, which shall be consistent with the requirements of
Rule 16b-3 promulgated by the SEC pursuant to the 34 Act, and interpretations of
Rule 16b-3. If any outstanding option under this Plan expires or is terminated
for any reason during the Term of this Plan, the Shares allocable to the
unexercised portion of such option shall become available for the grant of other
options under this Plan. No Shares delivered to the Company in full or partial
payment upon exercise of an option pursuant to Section 6(c) shall become
available for the grant of other options under this Plan.

         6. TERMS AND CONDITIONS OF OPTIONS. Each option granted under this Plan
shall be evidenced by an agreement ("Option Agreement") in such form as the
Committee shall from time to time approve. No person shall have any right with
respect to the grant of an option unless and until he or she has executed an
Option Agreement. Option Agreements shall comply with and be subject to the
following conditions:

         (a) Number of Shares and Term of Options. Each Option Agreement shall
state the number of Shares of the Common Stock of the Company to which it
pertains and the term of the option. The term of each option shall be for a
period of not greater than ten (10) years from the date of grant of the option.

         (b) Option Price. The exercise price of each option for each Share
covered by the option shall not be less than the Fair Market Value per Share of
Common Stock on the date of the grant of the option. For the purpose of this
Section 6(b), the "Fair Market Value" per Share on a particular date shall mean
(i) if the Common Stock is quoted on the OTC Bulletin Board (the "Bulletin
Board"), the mean between the closing high bid and low asked quotations for such
day (or, in the event that the Common Stock was not quoted on such day, the most
recent preceding business day on which the Common Stock was quoted) of the
Common Stock on the Bulletin Board, (ii) if the Common Stock is quoted on The
Nasdaq Stock Market ("Nasdaq"), the mean between the closing high bid and low
asked quotations for such day (or, in the event that the
<PAGE>

Common Stock was not quoted on such day, the most recent preceding business day
on which the Common Stock was quoted) of the Common Stock on Nasdaq, or (iii) if
neither clause (i) nor (ii) is applicable, a value determined by any fair and
reasonable means prescribed by the Committee in its discretion.

         (c) Medium of Payment. The option price shall be payable to the Company
either (i) in United States dollars in cash or by check, bank draft, or money
order payable to the order of the Company, (ii) through the delivery of Shares
of the Company's Common Stock with a Fair Market Value on the date of the
exercise equal to the option price, provided such Shares are utilized as payment
to acquire at least one hundred (100) Shares of Common Stock, or (iii) by a
combination of (i) and (ii) above. For the purpose of this Section 6(c), "Fair
Market Value" will be determined in the manner specified in Section 6(b), and
the date of determination shall be the business day immediately preceding the
date of exercise.

         (d) Exercise of Options. The Committee shall have the authority to
determine, at the time of the grant of each option, the times at which an option
shall vest and be exercisable and any conditions precedent to the exercise of an
option. Once vested, an option shall be exercisable upon written notice to the
Secretary or Chief Financial Officer of the Company, as to any or all Shares
covered by the option, until its termination or expiration in accordance with
the terms of the Option Agreement and the provisions of this Plan.
Notwithstanding the foregoing, an option shall not at any time be exercisable
with respect to less than one hundred (100) Shares unless the remaining Shares
covered by the option are less than one hundred (100) Shares and the option is
exercised with respect to all the remaining Shares. The purchase price of the
Shares purchased pursuant to an option shall be paid in full upon delivery to
the optionee or a Permitted Transferee of certificates for the Shares. Exercise
by an optionee's heir or personal representative or any Permitted Transferee
shall be accompanied by evidence of his or her authority to act, in a form
reasonably satisfactory to the Company.

         (e) Options Transferable. Except as otherwise specifically provided in
this Section 6(e), options may not be transferred, assigned, pledged or
hypothecated in any way and shall not be subject to execution, levy, attachment
or similar process; and any attempted transfer, assignment, pledge,
hypothecation, or other disposition of an option or any execution, levy,
attachment or similar process upon an option shall be null and void and without
effect. The Committee may, in its discretion, authorize all or a portion of the
options granted to an optionee to be on terms which permit the transfer of such
options by the optionee to (i) the spouse, children or grandchildren of the
optionee ("Immediate Family Members"), (ii) a trust or trusts for the exclusive
benefit of the optionee or one or more Immediate Family Members, or (iii) a
partnership or limited liability company in which the optionee or one or more
Immediate Family Members are the only partners or members. (The persons or
entities described in (i) through (iii) above shall be referred to as "Permitted
Transferees"). However, (i) there may be no consideration for any such transfer,
(ii) the Option Agreement pursuant to which such options are granted must be
approved by the Committee, and must expressly provide for transferability in a
manner consistent with this Section 6(e), and (iii) subsequent transfers of
transferred options pursuant to this Section 6(e) shall be prohibited. Following
a permitted transfer, any transferred options shall continue to be subject to
the same terms and conditions as were applicable immediately prior to the
transfer. The Company shall not be obligated to notify any Permitted Transferee
of the expiration or termination of any option. No option may be transferred
except strictly in accordance with the terms and conditions set forth above and
any additional terms and conditions set forth in the relevant Option Agreement.
<PAGE>

         (f) Termination of Service as Director. In the event an optionee shall
cease to serve the Company or a Subsidiary as a director for any reason, each
option held by the optionee or his or her Permitted Transferee(s) shall
terminate to the extent not vested immediately prior to such termination of
service. Following an optionee's termination of service as a director for any
reason, any options held by the optionee or his or her Permitted Transferee(s)
shall, to the extent vested, be exercisable, for the shorter of the following
periods: (i) a period of one (1) year from the date of the optionee's
termination of service as a director, or (ii) the remaining term of the option,
subject to limitations imposed by this Plan. In the event of termination as a
result of death, the option may be exercised by the personal representative of
the optionee's estate or by any person or persons who have acquired the option
directly from the optionee by bequest or inheritance or by a Permitted
Transferee(s). If an optionee dies during the exercise period following
cessation of service as a director, the option, to the extent vested, may be
exercised any time within one (1) year after the optionee's death, subject to
the prior expiration of the term of the option and other limitations imposed by
this Plan.

         (g) Adjustment in Shares Covered by Option. The number of Shares
covered by each outstanding option, and the purchase price per Share, shall be
proportionately adjusted for any increase or decrease in the number of issued
and outstanding Shares resulting from a split in or combination of Shares or the
payment of a stock dividend on the Shares or any other increase or decrease in
the number of Shares effected without receipt of consideration by the Company.

         If the Company is the surviving corporation in any merger or
consolidation or if the Company is merged into a wholly-owned subsidiary solely
for purposes of changing the Company's state of incorporation, each outstanding
option shall pertain to and apply to the securities to which a holder of the
number of Shares subject to the option would have been entitled. A dissolution
or liquidation of the Company or a merger or consolidation in which the Company
is not the surviving corporation, except as provided above, shall cause each
outstanding option to terminate, provided that each outstanding option shall
become fully vested and be exercisable immediately prior to such dissolution or
liquidation, or such merger or consolidation.

         To the extent that the adjustments relate to stock or securities of the
Company, such adjustments shall be made by the Committee, whose determination
shall be final, binding and conclusive. Any such adjustment may provide for the
elimination of any fractional Shares which might otherwise become subject to an
option.

         Except as expressly provided in this Section 6(g), an optionee or a
Permitted Transferee shall have no rights by reason of any split or combination
of shares of stock of any class or the payment of any stock dividend or any
other increase or decrease in the number of shares of stock of any class or by
reason of any dissolution, liquidation, merger, or consolidation or spinoff of
assets or stock of another corporation, and any issuance by the Company of
shares of stock of any class, or securities convertible into shares of stock of
any class, shall not affect, and no adjustment by reason thereof shall be made
with respect to, the number or price of Shares of stock subject to the option.

         The grant of an option pursuant to the Plan shall not affect in any way
the right or power of the Company to make adjustments, reclassifications,
reorganizations, or changes of its capital
<PAGE>

or business structure, or to merge or to consolidate or to dissolve, liquidate
or sell, or transfer all or any part of its business or assets.

         (h) Rights of a Stockholder. An optionee or a Permitted Transferee
shall have no rights as a Shareholder with respect to any Shares covered by his
or her option until the date on which he or she becomes the holder of record of
such Shares. No adjustment shall be made for dividends, distributions, or other
rights for which the record date is prior to the date on which he or she shall
have become the holder of record thereof, except as provided in Section 6(g).

         (i) Postponement of Delivery of Shares and Representations. The
Company, in its discretion, may postpone the issuance and delivery of Shares
upon any exercise of an option until completion of the registration or other
qualification of such Shares under any state or federal law, rule or regulation
as the Company may consider appropriate, and may require any person exercising
an option to make such representations, including, without limitation, a
representation that it is his or her intention to acquire the Shares for
investment and not with a view to distribution thereof, and furnish such
information as it may consider appropriate in connection with the issuance or
delivery of the Shares in compliance with applicable laws, rules, and
regulations. In such event, no Shares shall be issued to such holder unless and
until the Company is satisfied with any such representations.

         (j) Other Provisions. The Option Agreements authorized under the Plan
shall contain such other provisions, including, without limitation, restrictions
upon the exercise of the option, as the Committee shall deem advisable.

         7. ADJUSTMENTS IN SHARES AVAILABLE FOR OPTIONS. The adjustments in
number and kind of shares and the substitution of shares, affecting outstanding
options in accordance with Section 6(g), shall also apply to the number and kind
of shares reserved for issuance pursuant to this Plan, but not yet covered by
options.

         8. AMENDMENT OF THE PLAN. The Committee, insofar as permitted by law,
shall have the right from time to time, with respect to any Shares at the time
not subject to options, to suspend or discontinue the Plan or revise or amend it
in any respect whatsoever, except that, without approval of the Board of
Directors and the Shareholders of the Company, no such revision or amendment
shall:

         (a) increase the maximum number of Shares which may be subject to the
Plan,

         (b) materially increase the benefits accruing to option holders under
the Plan,

         (c) decrease the exercise price of options granted under the Plan, or

         (d) permit the granting of options under the Plan after the end of the
Term of this Plan.

         9. RIGHT TO TERMINATE DIRECTOR'S SERVICE. Nothing in this Plan or in
the grant of any option hereunder shall in any way limit or effect the right of
the Board of Directors or the Shareholders to remove any director or otherwise
terminate his or her service as a director, pursuant to law or the Articles of
Incorporation or Bylaws of the Company or a Subsidiary.
<PAGE>

         10. APPLICATION OF FUNDS. The proceeds received by the Company from the
sale of Shares pursuant to options will be used for general corporate purposes,
or such other purpose as the Committee or Company Board shall determine.

         11. NO OBLIGATION TO EXERCISE OPTION. The granting of an option shall
impose no obligation upon the optionee or a Permitted Transferee to exercise
such option.

         12. CONSTRUCTION. This Plan shall be construed under the laws of the
State of Michigan, United States of America.

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