Document:

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                                                                   EXHIBIT 10.37

                                                                      Grant ____

   THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING SECURITIES ISSUED
   PURSUANT TO THE AKORN INC 2003 STOCK OPTIONS PLAN, WHICH WILL BE REGISTERED
     UNDER THE SECURITIES ACT OF 1933 UPON SHAREHOLDER APPROVAL OF THE PLAN

                   AKORN INC. INCENTIVE STOCK OPTION AGREEMENT

Name
Address

                       RE: Options to purchase ______ shares of common stock of
                       Akorn, Inc. at $____ per share granted on the ____ day of
                       __(month)__, (year). ("Grant Date")

         THIS INCENTIVE STOCK OPTION AGREEMENT ("Agreement") is made by and
between Akorn, Inc., a Louisiana corporation, ("Corporation"), and ____________
("Optionee").

         NOW, THEREFORE, in consideration of the mutual benefit to be derived
herefrom, the Corporation and Optionee agree as follows:

         1. Grant of Option. The Corporation hereby grants to Optionee, subject

to all the terms and provisions of the Akorn, Inc. 2003 Stock Option Plan dated
November 6, 2003, as such Plan may be hereinafter amended, a copy of which is
attached hereto and incorporated herein by this reference (the "Plan"), the
right, privilege and option ("Option") to purchase __(written number)
____(number)_____shares of its common stock ("Stock") at $_____ per
share, in the manner and subject to the conditions provided hereinafter and in
the Plan and any amendments thereto and any rules and regulations thereunder.

         2. Time of Exercise of Option. Options are immediately exercisable with
respect to one-fourth (1/4th) of the shares covered thereby and become
exercisable with respect to an additional one-fourth (1/4th) of the shares
covered thereby on each of the first (1st), second (2nd) and third (3rd)
anniversary dates of the date of the grant. Any exercise may be with respect to
any part or all of the shares then exercisable pursuant to such Option, provided
that the minimum number of shares exercisable at any time shall not be less than
one hundred (100) shares or the balance of shares for which the Option is then
exercisable. Options will expire and may not be exercised after five (5) years
from the date of the grant except as set forth in Section 3 of the Plan, three
(3) months after Optionee's termination of employment without cause with either
the Corporation, or a Parent or Subsidiary thereof or immediately upon
termination for cause. However, such rights may be extended as more fully set
forth in Sections 3.1 and 3.2 of the Plan in the case of Optionee's disability,
leave or death. In no event shall the Corporation be required to transfer
fractional shares to Optionee or those entitled to Optionee's rights herein.

         3. Method of Exercise. The Option shall be exercised by Optionee as set
forth in Sections 5.4 and 5.5 of the Plan.

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         4. Restrictions on Exercise and Delivery. The exercise of each Option
shall be subject to the condition that, if at any time the Committee shall
determine, in its sole and absolute discretion,

                  (a) the satisfaction of any withholding tax or other
                      withholding liabilities, is necessary or desirable as a
                      condition of, or in connection with, such exercise or the
                      delivery or purchase of Stock pursuant thereto,

                  (b) the listing, registration, or qualification of any shares
                      deliverable upon such exercise is desirable or necessary,
                      under any state or federal law, as a condition of, or in
                      connection with, such exercise or the delivery or purchase
                      of shares pursuant thereto, or

                  (c) the consent or approval of any regulatory body is
                      necessary or desirable as a condition of, or in connection
                      with, such exercise or the delivery or purchase of shares
                      pursuant thereto.

In any such event, such exercise shall not be effective unless such withholding,
listing, registration, qualification, consent or approval shall have been
effected or obtained free of any conditions not acceptable to the Committee.
Optionee shall execute such documents and take such other actions as are
required by the Committee to enable it to effect or obtain such withholding,
listing, registration, qualification, consent or approval. Neither the
Corporation nor any officer or director, or member of the Committee, shall have
any liability with respect to the non-issuance or failure to sell shares as the
result of any suspensions of exercisability imposed pursuant to this Section.

         5. Termination of Option. Except as otherwise provided in this
Agreement or the Plan, to the extent not previously exercised, the Option shall
terminate upon the first to occur of any of the following events:

                  (a) the dissolution or liquidation of the Corporation;

                  (b) The expiration of 5 year from the date of the grant of the
                      Option hereunder;

                  (c) the breach by Optionee of any provision of this Agreement;

                  (d) as more fully set forth in Section 3.2.1 of the Plan, 3
                      months after the occurrence of an event giving rise to
                      termination of employment other than for "cause";

                  (e) as more fully set forth in Section 3.2.2 of the Plan, upon
                      or as of the occurrence of an event giving rise to
                      termination of employment for "cause";

                  (f) as more fully set forth in Section 3.3 of the Plan, 6
                      months after an optionee's death; or

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                  (g) as more fully set forth in Section 6.2 of the Plan, in the
                      event of a Capital Transaction.

         6. Nonassignability. Options may not be sold, pledged, assigned or
transferred in any manner other than by will or by the laws of descent and
distribution, and may be exercised during the lifetime of Optionee only by
Optionee. Any transfer by Optionee of any Option granted under the Plan or this
Agreement shall void such Option and the Corporation shall have no further
obligation with respect to such Option. No Option shall be pledged or
hypothecated in any way, nor shall any Option be subject to execution,
attachment or similar process.

         7. Restrictions on Transfer of Shares Acquired. Optionee represents and
warrants to the Corporation that he will not transfer the Stock in violation of
the provisions of any applicable securities statute or regulation.

         8. Representation Letter. Upon execution of this Agreement, the
Optionee will deliver to the Corporation the grant representation letter set
forth on Exhibit "A" of the Plan, as such Exhibit may be amended by the
Committee from time to time. Upon exercise of the Option, the Optionee will
deliver to the Corporation the exercise representation letter set forth on
Exhibit "B" of the Plan, as such Exhibit may be amended by the Committee from
time to time. Optionee also agrees to make such other representations as are
deemed necessary or appropriate by the Corporation and its counsel.

         9. Rights as Shareholder. Neither Optionee nor his executor,
administrator, heirs or legatees, shall be, or have any rights or privileges of
a shareholder of the Corporation in respect of the Stock unless and until
certificates representing such Stock shall have been issued in Optionee's name.

         10. No Right of Employment. Neither the grant nor exercise of any
Option nor anything in the Plan or this Agreement shall impose upon the
Corporation or any other corporation any obligation to employ or continue to
employ any Optionee. The right of the Corporation and any other corporation to
terminate any employee shall not be diminished or affected because an Option has
been granted to such employee.

         11. Mandatory Arbitration. In the event of any dispute between the
Corporation and Optionee regarding this Agreement or the Plan, the dispute and
any issue as to the arbitrability of such dispute, shall be settled to the
exclusion of a court of law, by arbitration in Chicago, Illinois, by a panel of
three arbitrators (each party shall choose one arbitrator and the third shall be
chosen by the two arbitrators so selected) in accordance with the Commercial
Arbitration Rules of the American Arbitration Association then in effect. The
decision of a majority of the arbitrators shall be final and binding upon the
parties. All costs of the arbitration and the fees of the arbitrators shall be
allocated between the parties as determined by a majority of the arbitrators, it
being the intention of the parties that the prevailing party in such a
proceeding be made whole with respect to its expenses.

         12. Definitions. Capitalized terms shall have the meaning set forth in
the Plan unless otherwise defined herein.

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         13. Notices. Any notice to be given under the terms of this Agreement
shall be addressed to the Corporation in care of its Secretary at its principal
office, and any notice to be given to Optionee shall be addressed to such
Optionee at the address maintained by the Corporation for such person or at such
other address as the Optionee may specify in writing to the Corporation.

         14. Binding Effect. This Agreement shall be binding upon and inure to
the benefit of Optionee, his heirs and successors, and of the Corporation, its
successors and assigns.

         15. Governing Law. This Agreement shall be governed by the laws of the
State of Louisiana.

         16. Descriptive Headings. Titles to Sections are solely for information
purposes.

         17. Application of Plan. The Corporation has delivered and the Optionee
hereby acknowledges receipt of a copy of the Plan. The parties agree and
acknowledge that the Option granted hereunder is granted pursuant to the Plan
and subject to the terms and provisions thereof, and the rights of the Optionee
are subject to modifications and termination in certain events as provided in
the Plan.

         IN WITNESS WHEREOF, this Agreement is effective as of, and the date of
grant shall be, _____(Grant Date)___.

                            AKORN, INC., a Louisiana corporation

                            By:_________________________________________________
                               Neill E. Shanahan, Vice-President Human Resources

                            OPTIONEE

                            ____________________________________________________

                                        4<PAGE>
                                                                   Exhibit 10.49

            SIXTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

         This Sixth Amendment to Amended and Restated Credit Agreement (herein,
the "Amendment") is made as of March 15, 2004, by and among Morton Industrial
Group, Inc., a Georgia corporation (the "Borrower"), the Lenders party to the
Credit Agreement hereinafter identified and defined, and Harris Trust and
Savings Bank, as Agent for the Lenders (in such capacity, the "Agent").

                                    RECITALS

         A. The Lenders currently extend credit to the Borrower on the terms and
conditions set forth in that certain Amended and Restated Credit Agreement dated
as of February 25, 2002, as amended, by and among the Borrower, the Guarantors,
the Lenders, and the Agent (the "Credit Agreement"). All capitalized terms used
herein without definition shall have the same meanings herein as such terms have
in the Credit Agreement.

         B. The Borrower has requested that the Lenders increase the Capital
Expenditure limit for fiscal 2003 and make certain changes to the Borrowing
Base, and the Lenders are willing to agree to such changes, all on the terms and
conditions herein set forth.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

SECTION 1.            AMENDMENTS.

         Subject to the satisfaction of the conditions set forth in Section 3
below, the Credit Agreement shall be and hereby is amended as follows:

        1.1. The definition of "Borrowing Base" set forth in Section 5.1 of the
Credit Agreement is hereby amended and restated to read in its entirety as
follows:

               "Borrowing Base" means, as of any time it is to be
determined, the sum of:

                 (a) 85% of the then net book value of Eligible Accounts
(computed using the method of receivables valuation applied by the Borrower in
accordance with GAAP which reflects such value as the net book value of its
receivables, except that net book value for such purposes shall not reflect any
reserve for accounts more than ninety days past due that have already been
excluded from gross accounts in computing such Eligible Accounts) less such
other reserves for uncollectibility, location of account debtor, contras and
other matters as the Agent or Required Lenders in good

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faith shall from time to time reasonably deem appropriate to adjust such net
book value; plus

                 (b) 60% of the value (computed at its cost using the method of
inventory valuation applied by the Borrower in accordance with GAAP which
reflects such cost on the Borrower's books as its net book value, but in any
event after reducing such value as so computed by the aggregate amount of all
reserves for obsolescence, slow-moving items, shrinkage and all such other
matters as the Agent or Required Lenders in good faith shall from time to time
reasonably deem appropriate to adjust such net book value) of Eligible
Inventory; plus

                 (c) the Other Asset Value then in effect;

provided that the Borrowing Base shall be computed only as against and on so
much of the Collateral as is included on the certificates to be furnished from
time to time by the Borrower pursuant to Section 8.5(f) hereof and, if required
by the Agent pursuant to any of the terms hereof or any Collateral Document, as
verified by such other evidence required to be furnished to the Agent pursuant
hereto or pursuant to any such Collateral Document. Notwithstanding the
foregoing to the contrary: (i)the amount of Eligible Accounts otherwise included
in the Borrowing Base shall be reduced, dollar for dollar, by a reserve equal to
the greater of (a) the amount (if any) by which (x) the aggregate amount of
accounts payable owing by the Borrower and its Subsidiaries to Deere and
Caterpillar together and their respective Affiliates for inventory and supplies
purchased (the "Deere/Caterpillar Payables") at any time exceeds (y) $5,000,000
or (b) the sum of (A) the amount (if any) by which (x) the aggregate amount of
accounts payable owing by the Borrower and its Subsidiaries to Deere and its
Affiliates for inventory and supplies purchased (the "Deere Payables") at any
time exceeds (y) $3,000,000 and (B) the amount (if any) by which (x) the
aggregate amount of accounts payable owing by the Borrower and its Subsidiaries
to Caterpillar and its Affiliates for inventory and supplies purchased (the
"Caterpillar Payables") at any time exceeds (y) $3,000,000; (ii) no reserve will
be imposed in computing the Borrowing

                                      -2-
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Base as of any time solely in respect of the Deere/Caterpillar Payables, Deere
Payables or Caterpillar Payables to the extent the same do not exceed such
respective limits; and (iii) the Agent and the Required Lenders shall have the
right to impose reserves for other matters arising in connection with
receivables owing by Deere and Caterpillar and to otherwise impose reserves in
accordance with the Credit Agreement.

        1.2 Section 8.10 of the Credit Agreement is hereby amended and restated
to read in its entirety as follows:

Section 8.10. Capital Expenditures. The Borrower will not, nor will it permit
any Subsidiary to, expend or (without duplication) become obligated to expend,
in each case for Capital Expenditures aggregating for the Borrower and its
Subsidiaries (taken together) in excess of (i) $3,900,000 during fiscal 2003,
(ii) $4,500,000 during fiscal 2004 and (iii) $1,250,000 during the period from
January 1, 2005 through and including the Termination Date.

SECTION 2.            CONDITIONS PRECEDENT.

         The effectiveness of this Amendment is subject to the satisfaction of
all of the following conditions precedent:

        2.1. The Borrower, the Agent, and the Lenders shall have executed and
delivered this Amendment, and the Guarantors shall have executed and delivered
their consent to this Amendment in the space provided for that purpose below.

        2.2. Legal matters incident to this Amendment shall be satisfactory to
the Agent and the Lenders and their counsel.

        2.3. The Borrower shall have paid all fees and expenses of counsel to
the Agent with respect to the preparation of this Amendment as well as all prior
fees and charges of counsel to the Agent incurred prior to the date hereof which
remain outstanding and unpaid.

SECTION 3.            REPRESENTATIONS.

         In order to induce the Lenders to execute and deliver this Amendment,
the Borrower hereby represents to the Lenders that as of the date hereof, and
after giving effect to this Amendment, (a) the representations and warranties
set forth in Section 6 of the Credit Agreement are and shall be and remain true
and correct in all material respects (except that for purposes of this paragraph
the representations contained in Section 6.4 shall be deemed to refer to the
most recent financial statements of the Borrower delivered to the Lenders) and
(b) the Borrower is in full compliance with all of the terms and conditions of
the Credit Agreement after

                                      -3-
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giving effect to this Amendment and no Default or Event of Default has occurred
and is continuing under the Credit Agreement or shall result after giving effect
to this Amendment.

SECTION 4.           RELEASE OF CLAIMS.

         TO INDUCE THE LENDERS AND THE AGENT TO ENTER INTO THIS AMENDMENT, THE
BORROWER AND THE GUARANTORS HEREBY RELEASE, ACQUIT, AND FOREVER DISCHARGE THE
LENDERS, THE AGENT AND THEIR AFFILIATES AND THEIR RESPECTIVE OFFICERS,
DIRECTORS, AGENTS, ATTORNEYS, ADVISORS, CONSULTANTS, EMPLOYEES, SUCCESSORS AND
ASSIGNS, FROM ALL LIABILITIES, CLAIMS, DEMANDS, ACTIONS, AND CAUSES OF ACTION OF
ANY KIND (IF THERE ARE ANY), WHETHER ABSOLUTE OR CONTINGENT, DUE OR TO BECOME
DUE, DISPUTED OR UNDISPUTED, AT LAW OR IN EQUITY, THAT THEY NOW HAVE OR EVER HAD
AGAINST THE LENDERS, THE AGENT AND THE OTHER PARTIES IDENTIFIED ABOVE, OR ANY
ONE OR MORE OF THEM INDIVIDUALLY, UNDER OR IN CONNECTION WITH THE CREDIT
AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS.

SECTION 5.            MISCELLANEOUS.

        5.1. The Borrower has heretofore executed and delivered to the Agent and
the Lenders certain of the Collateral Documents. The Borrower hereby
acknowledges and agrees that, notwithstanding the execution and delivery of this
Amendment, the Collateral Documents remain in full force and effect and the
rights and remedies of the Agent and the Lenders thereunder, the obligations of
the Borrower thereunder, and the liens and security interests created and
provided for thereunder remain in full force and effect and shall not be
affected, impaired, or discharged hereby. Nothing herein contained shall in any
manner affect or impair the priority of the liens and security interests created
and provided for by the Collateral Documents as to the indebtedness which would
be secured thereby prior to giving effect to this Amendment.

        5.2. Except as specifically amended herein or waived hereby, the Credit
Agreement shall continue in full force and effect in accordance with its
original terms. Reference to this specific Amendment need not be made in the
Credit Agreement, the Notes, or any other instrument or document executed in
connection therewith, or in any certificate, letter or communication issued or
made pursuant to or with respect to the Credit Agreement, any reference in any
of such items to the Credit Agreement being sufficient to refer to the Credit
Agreement as amended hereby.

        5.3. The Borrower agrees to pay all reasonable out-of-pocket costs and
expenses incurred by the Agent and the Lenders in connection with the
preparation, execution and delivery of this Amendment and the documents and
transactions contemplated hereby, including the reasonable fees and expenses of
counsel for the Agent with respect to the foregoing.

                                      -4-
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        5.4. This Amendment may be executed in any number of counterparts, and
by the different parties on different counterpart signature pages, all of which
taken together shall constitute one and the same agreement. Any of the parties
hereto may execute this Amendment by signing any such counterpart and each of
such counterparts shall for all purposes be deemed to be an original. This
Amendment shall be governed by the internal laws of the State of Illinois.

                                      [SIGNATURE PAGES TO FOLLOW]

                                      -5-
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         This Sixth Amendment to Amended and Restated Credit Agreement is
entered into by the parties hereto as of the date and year first above written.

                                         MORTON INDUSTRIAL GROUP, INC.

                                         By  /s/ RODNEY B. HARRISON
                                            ------------------------------------
                                            Name  Rodney B. Harrison
                                                 -------------------------------
                                            Title  VP of Finance
                                                  ------------------------------

                                         Accepted and agreed to.

                                         HARRIS TRUST AND SAVINGS BANK

                                         By  /s/ LAWRENCE A. MIZERA
                                            ------------------------------------
                                            Name  Lawrence A. Mizera
                                                 -------------------------------
                                            Title  Vice President
                                                  ------------------------------

                                         BRANCH BANKING & TRUST CO.

                                         By  /s/ WORD C. CLARK, JR.
                                            ------------------------------------
                                            Name  Word C. Clark, Jr.
                                                 -------------------------------
                                            Title  SVP
                                                  ------------------------------

                                         U.S. BANK NATIONAL ASSOCIATION

                                            f/k/a Firstar Bank, N.A.

                                         By  /s/ RON SHAPIRO
                                            ------------------------------------
                                            Name  Ron Shapiro
                                                 -------------------------------
                                            Title  VP
                                                  ------------------------------

                                         LASALLE BANK NATIONAL ASSOCIATION

                                         By  /s/ JAMES D. THOMPSON
                                            ------------------------------------
                                            Name  James D. Thompson
                                                 -------------------------------
                                            Title  Group Senior VP
                                                  ------------------------------

                                         NATIONAL CITY BANK

                                         By  /s/ STEPHEN A. MONTO
                                            ------------------------------------
                                            Name  Stephen A. Monto
                                                 -------------------------------
                                            Title  Account Officer
                                                  ------------------------------

                                      -6-
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                    GUARANTORS' ACKNOWLEDGEMENT AND CONSENT

         Each of the undersigned hereby acknowledges and agrees that it is a
Guarantor under the terms of Section 11 of the Credit Agreement and, as such has
executed and delivered certain Collateral Documents pursuant to the Credit
Agreement. The undersigned hereby consent to the Sixth Amendment to Amended and
Restated Credit Agreement as set forth above and agree to the terms thereof,
including, without limitation, Section 5 thereof, and the undersigned hereby
confirm that their guaranties and the Collateral Documents executed by them, and
all of the obligations of the undersigned thereunder, remain in full force and
effect. The undersigned further agree that the consent of the undersigned to any
further amendments to the Credit Agreement shall not be required as a result of
this consent having been obtained. The undersigned acknowledge the Lenders are
relying on this acknowledgement and consent in entering into the Sixth Amendment
to Amended and Restated Credit Agreement with the Borrower.

                                         MORTON METALCRAFT CO.

                                         By  /s/ DARYL R. LINDEMANN
                                            ------------------------------------
                                            Name  Daryl R. Lindemann
                                                 -------------------------------
                                            Title  Vice President
                                                  ------------------------------

                                         MORTON METALCRAFT CO. OF NORTH CAROLINA

                                         By  /s/ DARYL R. LINDEMANN
                                            ------------------------------------
                                            Name  Daryl R. Lindemann
                                                 -------------------------------
                                            Title  Vice President
                                                  ------------------------------

                                         MORTON METALCRAFT CO. OF SOUTH CAROLINA

                                         By  /s/ DARYL R. LINDEMANN
                                            ------------------------------------
                                            Name  Daryl R. Lindemann
                                                 -------------------------------
                                            Title  Vice President
                                                  ------------------------------

                                         MID CENTRAL PLASTICS, INC.

                                         By  /s/ DARYL R. LINDEMANN
                                            ------------------------------------
                                            Name  Daryl R. Lindemann
                                                 -------------------------------
                                            Title  Vice President
                                                  ------------------------------

                                         B&W METAL FABRICATORS, INC.

                                         By  /s/ DARYL R. LINDEMANN
                                            ------------------------------------
                                            Name  Daryl R. Lindemann
                                                 -------------------------------
                                            Title  Vice President
                                                  ------------------------------

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