Document:

SUMMARY OF COMPENSATION MATTERS

 

	 	 	 	 	 

Exhibit 10.97

Summary of Compensatory Matters

April 1, 2005 – April 4, 2005

     Bonuses and Salary Adjustments to Named Executive Officers

     On April 1, 2005, the Compensation Committee authorized the payment of annual bonuses and
established salaries for the executives who will be Named Executive Officers in Andrx’s 2005 proxy
statement. Bonuses were based on the executive’s performance in relation to his individual
objectives and Andrx’s financial performance. Salaries adjustments, if any, were made retroactive
to March 1, 2005.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Named Executive Officer	 	Previous Salary	 	 	Current Salary	 	 	Bonus	 
	Thomas P. Rice
	 	 	 	 	 	 	 	 	 	 	 	 
	Andrx Corporation CEO
	 	$	550,000	 	 	$	550,000	 	 	$	450,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Angelo C. Malahias
	 	 	 	 	 	 	 	 	 	 	 	 
	Andrx Corporation President
	 	$	440,000	 	 	$	460,000	 	 	$	220,100	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Scott Lodin
	 	 	 	 	 	 	 	 	 	 	 	 
	Andrx Corporation EVP and General Counsel
	 	$	420,000	 	 	$	435,000	 	 	$	180,600	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Lawrence Rosenthal,
	 	 	 	 	 	 	 	 	 	 	 	 
	Andrx Pharmaceuticals President
	 	$	375,000	 	 	$	385,000	 	 	$	150,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Daniel Movens,
	 	 	 	 	 	 	 	 	 	 	 	 
	Anda, Inc. President
	 	$	275,000	 	 	$	300,000	 	 	$	145,000	 

     Thomas P. Rice Temporary Living Expenses

     On April 4, 2005, the Compensation Committee extended the application of the Andrx relocation
and temporary living expense policy (“Relocation Policy”), as applied to Mr. Rice, to the earlier
of December 31, 2005 or the date his family relocates to South Florida.

     See, Exhibit 10.92 to the Andrx Corporation Annual Report on Form 10-K for the year ended
December 31, 2004, and incorporated by reference, for a description of Andrx’s Relocation Policy as
applied to Mr. Rice.<PAGE>
                                                                  EXHIBIT 10.1

                           AMENDMENT NO. 5 dated as of March 29, 2005 (this
                  "Amendment"), to the Credit Agreement dated as of August 1,
                  2001, as heretofore amended (the "Credit Agreement"), among
                  WRIGHT MEDICAL GROUP, INC., a Delaware corporation, WRIGHT
                  MEDICAL TECHNOLOGY, INC., a Delaware corporation, the LENDERS
                  from time to time party thereto, JPMORGAN CHASE BANK, N.A., as
                  administrative agent and collateral agent, and the other
                  parties thereto.

         A. Pursuant to the Credit Agreement, the Lenders and the Issuing Bank
have extended credit to the Borrower, and have agreed to extend credit to the
Borrower, in each case pursuant to the terms and subject to the conditions set
forth therein.

         B. Holdings and the Borrower have informed the Administrative Agent the
they seek an amendment of Section 1.01 of the Credit Agreement to amend the
definitions of the terms "Material Indebtedness" and "Permitted Investments", in
each case as set forth herein.

         C. The Required Lenders are willing to agree to such amendments
pursuant to the terms, subject to the conditions and to the extent set forth
herein.

         D. Each capitalized term used and not otherwise defined herein shall
have the meaning assigned to such term in the Credit Agreement.

         Accordingly, in consideration of the mutual agreements herein contained
and other good and valuable consideration, the sufficiency and receipt of which
are hereby acknowledged, the parties hereto agree as follows:

         SECTION 1. Amendments. Section 1.01 of the Credit Agreement is hereby
amended as follows:

         (a) The definition of "Material Indebtedness is hereby amended and
restated in its entirety to read as follows:

                  "Material Indebtedness" means Indebtedness (other than the
         Loans and Letters of Credit), or obligations in respect of one or more
         Hedging Agreements, of any one or more of Holdings, the Borrower and
         the Subsidiaries in an aggregate principal amount exceeding
         $20,000,000. For purposes of determining Material Indebtedness, the
         "principal amount" of the obligations of Holdings, the Borrower or any
         Subsidiary in respect of any Hedging Agreement at any time shall be the
         maximum aggregate amount (giving effect to any netting agreements) that
         Holdings, the Borrower or such Subsidiary would be required to pay if
         such Hedging Agreement were terminated at such time."

<PAGE>
                                                                               2

         (b) The definition of "Permitted Investments" is hereby amended and
restated in its entirety to read as follows:

                  "Permitted Investments" means:

                  (a) direct obligations of, or obligations the principal of and
         interest on which are unconditionally guaranteed by, the United States
         of America (or by any agency or instrumentality thereof), in each case
         maturing within 36 months from the date of acquisition thereof;

                  (b) investments in commercial paper maturing within nine
         months from the date of acquisition thereof and having, at such date of
         acquisition, a credit rating of at least A-1 by Standard & Poor's and
         P1 by Moody's;

                  (c) investments in certificates of deposit, banker's
         acceptances and time deposits, in each case maturing within six months
         from the date of acquisition thereof, issued or guaranteed by or placed
         with any domestic office of any commercial bank organized under the
         laws of the United States of America or any State thereof (a "U.S.
         Commercial Bank") that, at such date of acquisition, has a long term
         rating of A or better by S&P or Moody's, is a member of the Federal
         Deposit Insurance Corporation and is among the 50 largest U.S.
         Commercial Banks ranked according to total assets (a "Qualified U.S.
         Commercial Bank");

                  (d) money market deposit accounts or money market funds issued
         or offered by (i) any U.S. Commercial Bank that, at the date of
         investment, is a Qualified U.S. Commercial Bank or (ii) any domestic
         office of any investment bank that, at the date of investment, has a
         long term rating of A or better by S&P or Moody's, has total capital in
         excess of $500,000,000 and is a member of the Securities Investor
         Protection Corporation;

                  (e) Eurodollar time deposits maturing within 14 days from the
         date of acquisition thereof placed with any international commercial
         bank that, at such date of placement, has a long term rating of A or
         better by S&P or Moody's or a comparable rating by a comparable rating
         agency and that is among the 50 largest global banks ranked according
         to total assets;

                  (f) fully collateralized repurchase agreements with a term of
         not more than 30 days for securities described in clause (a) above and
         entered into with a Qualified U.S. Commercial Bank;

                  (g) tax free auction rate securities, variable rate demand
         notes, other tax exempt securities and taxable auction rate securities
         that, in each case, are liquid within 15 months from the date of
         acquisition thereof and having, at such date of acquisition, a
         long-term investment credit rating of AA or better by S&P and Aa or
         better by Moody's or guaranteed by an irrevocable letter of credit

<PAGE>
                                                                               3

         issued by a U.S. Commercial Bank;

                  (h) municipal bonds and corporate bonds, in each case,
         maturing within 36 months from the date of acquisition thereof and
         having, at such date of acquisition, a long-term investment credit
         rating of AA or better by S&P and Aa or better by Moody's;

                  (i) floating rate notes maturing within 24 months from the
         date of acquisition thereof and having, at such date of acquisition, a
         long-term investment credit rating of AA or better by S&P and Aa or
         better by Moody's; and

                  (j) shares of money market preferred or similar funds maturing
         within six months from the date of acquisition thereof and having, at
         such date of acquisition, a rating of AA or better by S&P and Aa or
         better by Moody's."

         SECTION 2. Representations and Warranties. Each of Holdings and the
Borrower represents and warrants to each other party hereto that (a) this
Amendment has been duly executed and delivered by each of Holdings and the
Borrower and constitutes a legal, valid and binding obligation of Holdings and
the Borrower, enforceable against it in accordance with its terms, and (b) after
giving effect to this Amendment (i) the representations and warranties set forth
in Article III of the Credit Agreement are true and correct in all material
respects on and as of the date hereof, except to the extent such representations
and warranties expressly relate to an earlier date (in which case such
representations and warranties were true and correct in all material respects as
of the earlier date), and (ii) no Default or Event of Default has occurred and
is continuing.

         SECTION 3. Effectiveness. This Amendment shall become effective as of
the date set forth above on the date on which the following conditions are
satisfied:

                  (a) the Administrative Agent (or its counsel) shall have
         received from each of Holdings, the Borrower and the Required Lenders a
         counterpart of this Amendment signed on behalf of such party; and

                  (b) the Administrative Agent shall have received all fees and
         other invoiced amounts required to be reimbursed by any Loan Party
         under the Credit Agreement.

         SECTION 4. Effect of Amendment. Except as expressly set forth herein,
this Amendment shall not by implication or otherwise limit, impair, constitute a
waiver of, or otherwise affect, the rights and remedies of the Lenders, the
Issuing Bank, Collateral Agent or the Administrative Agent under the Credit
Agreement or any other Loan Document, and shall not alter, modify, amend or in
any way affect any of the terms, conditions, obligations, covenants or
agreements contained in the Credit Agreement or any other Loan Document, all of
which are ratified and affirmed in all respects and shall continue in full force
and effect. Nothing herein shall be deemed to entitle Holdings or the Borrower
to a consent to, or a waiver, amendment, modification or other change of, any of
the terms, conditions, obligations, covenants or agreements contained in the
Credit

<PAGE>
                                                                               4

Agreement or any other Loan Document in similar or different circumstances.

         SECTION 5. Counterparts. This Amendment may be executed in counterparts
(and by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a
single contract. Delivery of an executed counterpart of a signature page of this
Amendment by telecopy shall be as effective as delivery of a manually executed
counterpart of this Amendment.

         SECTION 6. Application Law. THIS AMENDMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

         SECTION 7. Headings. Section headings used herein are for convenience
of reference only, are not part of this Amendment and shall not affect the
construction of, or be taken into consideration in interpreting, this Amendment.

<PAGE>
                                                                               5

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their respective authorized officers as of the day and year
first above written.

                                       WRIGHT MEDICAL GROUP, INC.,

                                       by   /s/ Laurence Y. Fairey
                                            ---------------------------
                                            Name: Laurence Y. Fairey
                                            Title: President and CEO

                                       WRIGHT MEDICAL TECHNOLOGY, INC.,

                                       by   /s/ Jason P. Hood
                                            ---------------------------
                                            Name:  Jason P. Hood
                                            Title: General Counsel and Secretary

                                       JPMORGAN CHASE BANK, N.A.,
                                       as a Lender and as Administrative Agent,

                                       by   /s/ Stephanie Parker
                                            ---------------------------
                                            Name:  Stephanie Parker
                                            Title: Vice President

<PAGE>

                                                               SIGNATURE PAGE TO
                                                              AMENDMENT NO. 5 TO
                                             THE WRIGHT MEDICAL TECHNOLOGY, INC.
                                                    CREDIT AGREEMENT DATED AS OF
                                                                  AUGUST 1, 2001

                                    Name of Lender:  SunTrust Bank

                                                 By  /s/ W. Brooks Hubbard
                                                     --------------------------
                                                     Name:  W. Brooks Hubbard
                                                     Title: Director

<PAGE>

                                                               SIGNATURE PAGE TO
                                                              AMENDMENT NO. 5 TO
                                             THE WRIGHT MEDICAL TECHNOLOGY, INC.
                                                    CREDIT AGREEMENT DATED AS OF
                                                                  AUGUST 1, 2001

                              Name of Lender: CREDIT SUISSE FIRST BOSTON, acting
                              through its Cayman Islands Branch

                                            by   /s/ Paul L. Colon
                                                 ----------------------------
                                                 Name:  Paul L. Colon
                                                 Title: Director

                                            by   /s/ Karim Blasetti
                                                 ----------------------------
                                                 Name:  Karim Blasetti
                                                 Title: Associate

<PAGE>

                                                               SIGNATURE PAGE TO
                                                              AMENDMENT NO. 5 TO
                                             THE WRIGHT MEDICAL TECHNOLOGY, INC.
                                                    CREDIT AGREEMENT DATED AS OF
                                                                  AUGUST 1, 2001

                                    Name of Lender: Bank of America NA

                                              by   /s/ Elizabeth L. Knox
                                                   ----------------------------
                                                   Name:  Elizabeth L. Knox
                                                   Title: SVP

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