Document:

Exhibit 4.71

 

 

January 31, 2008

 

 

BY PERSONAL DELIVERY

 

Ms. Alida Gualtieri

***

 

Re: Employment Agreement

 

Dear Alida:

 

Further to our recent discussions, we hereby confirm
that your employment agreement with DRAXIS Health Inc. dated October 17,
2003 and amended on March 26, 2004 (the “Employment Agreement”) is hereby
amended as follows:

 

·                  By deleting Section 3 and
replacing it with the following Section 3:

 

You will be entitled to participate in all benefit
plans which the DRAXIS Group shall, from time to time make available to its
executive employees, subject to applicable eligibility rules thereof.  The benefits currently offered are:

 

·                  major medical

·                  drug

·                  dental

·                  group life

·                  short and long
term disability

·                  accidental
death and dismemberment

 

You
will also be entitled to an amount of up to 5% of your Base Salary, which exact
percentage shall be determined from year to year in lieu of participation in
DRAXIS’ Retirement Savings Program. (the “DRSP Amount”)

 

·                  By deleting Section 13(c) and
replacing it with the following Section 13(c):

 

(c)                                  Termination by DRAXIS
Without Serious Reason and Without Notice

 

DRAXIS may terminate this Agreement and your employment hereunder, in
its sole discretion, Without Notice and Without Serious Reason, effective
immediately upon the date you are advised of the termination (the “Date of
Termination”)

 

 

 

 

 

 

DRAXIS HEALTH INC./SANTÉ DRAXIS INC

16751 Trans Canada Highway, Kirkland, Québec, Canada H9H 4J4 Tél: (514)
694-8220 Fax: (514) 694-8201

 

 

If your employment is terminated Without Serious Reason and Without
Notice pursuant to this Section, DRAXIS shall:

 

1)                                                              Pay to you in a
lump sum a severance allowance equivalent to one year of your then current Base
Salary and, notwithstanding Section 6, a prorated portion of any eligible
bonus payment up to the Date of Termination to be paid only after the determination
by the Board that there shall be a bonus payment for the year in which the
termination took place and if the mutually agreed to management business
objectives have been achieved up to the Date of Termination, within two weeks
following the date of such termination.

2)                                                              Pay to you the
prorated portion of the DRSP Amount to the Date of Termination if the Date of
Termination is prior to December 31 (for example: if the Date of
Termination is February 28th, you would be entitled to the DRSP
Amount owed for the previous year, if not already paid, and the prorated
portion of the DRSP Amount for the period of January 1st to February 28th).

3)                                                              Pay to you all
outstanding vacation pay and any earned but unpaid Base Salary up to the date
of such termination within two weeks of the Date of Termination.

4)                                                              Reimburse you
for any business expenses incurred by you up to and including the Date of
Termination following provision by you of applicable receipts.

5)                                                              Maintain
coverage for six (6) months from the Date of Termination in the DRAXIS
benefit plan program (as set forth in Section 3), except for out of
country medical and short and long term disability which shall cease
immediately upon the Date of Termination.

 

The payment referred to in
paragraph 1, above, shall be guaranteed and shall not be subject to set off or
deduction as a result of your obtaining alternate employment following such
termination or otherwise mitigating any damages arising from such
termination.  Further, the payment
referred to in paragraph 1, above, is inclusive of all termination payments
that may be required by law, including pay in lieu of notice under the Civil Code of Québec.

 

The amounts paid to you pursuant to this paragraph shall be subject to
all required deductions.

 

Upon termination of your employment in accordance with this Section 13(c),
you shall return to DRAXIS all stock options, and other securities which have
not vested or accrued during your employment with DRAXIS, the whole in
accordance with the terms and conditions set forth in the option agreements.

 

·                  By deleting Section 13(d) and
replacing it with the following Section 13(d):

 

(d)                                  Termination
Payment Following a Change of Control

 

In accordance with section 13(d)(2) below, if there is a Change of
Control (as hereinafter defined) you shall be entitled to the following:

 

A.                                                           the amounts of
any unpaid Base Salary earned up to and including Date of Termination;

B.                                                             Any unpaid
vacation pay earned up to and including Date of Termination;

 

2

 

C.                                                             a lump sum amount,
equal to: two (2) times your then current Base Salary and two (2) times
the amount paid as a discretionary Bonus for the preceding calendar year
immediately prior to the date of the Change of Control, it being agreed that if
no bonus payment was made for the preceding year, you will be entitled to
receive a payment equal to two (2) times the prorated portion of any
eligible bonus payment up to the Date of Termination to be paid only after the
determination by the Board that there shall be a bonus payment for the year in
which the termination took place and if the mutually agreed to management
business objectives have been achieved up to Date of Termination; 

D.                                                            a lump sum
equal to two (2) times of the prorated portion of the DRSP Amount to the
Date of Termination if the Date of Termination is prior to December 31
(for example: if the Date of Termination is February 28th, you
would be entitled to the DRSP Amount owed for the previous year, if not already
paid, and two (2) times the prorated portion of the DRSP Amount for the
period of January 1st to February 28th);

E.                                                              the right to
exercise all DRAXIS stock options and other DRAXIS securities including those
not then otherwise exercisable as provided for below;

F.                                                              reimburse you
for any business expenses incurred by you up to and including the Date of
Termination following provision by you of applicable receipts;

G.                                                             The right to
receive six (6) months coverage in the DRAXIS benefit plan program (as set
out in Section 3) from the Date of Termination, except for out of country
medical and short and long term disability, which shall cease immediately upon
the Date of Termination.

 

The payments referred to in Section 13(d),
above, shall be guaranteed and shall not be subject to set off or deduction as
a result of your obtaining alternate employment following termination or
otherwise mitigating any damages arising from termination.  Further, the payment referred to in Section 13(d)(1)(C) above,
is inclusive of all termination payments that may be required by law, including
pay in lieu of notice under the Civil Code
of Québec.

 

The amounts paid to you pursuant to this paragraph shall be subject to
all required deductions.

 

For the purposes of this Agreement, a Change of Control shall be deemed
to occur in the following circumstances.

 

In
the event that at any date following the date of signature hereof:

 

(i)                                     the acquisition
by any persons acting jointly or in concert (as determined by the Securities Act (Ontario)), whether
directly or indirectly, of voting securities of the Corporation which, together
with all other voting securities of the Corporation held by such persons,
constitute in the aggregate more than 20% of all outstanding voting securities
of the Corporation;

 

(ii)                                  an
amalgamation, arrangement or other form of business combination of the
Corporation with another corporation which results in the holders of voting
securities of that other corporation holding, in the aggregate, more than 20%  of all
outstanding voting securities of the Corporation resulting from the business
combination; or

 

3

 

(iii)                               the sale,
transfer, lease or exchange of 50% or more of the property of the Corporation
to another person or corporation, other than in the ordinary course of business
of the Corporation, or to a Subsidiary.

 

and the Board of Directors of DRAXIS (the “Board of Directors”)
recommends acceptance of such offer to the Shareholders of DRAXIS (the
“Shareholders”) or, if the Board of Directors has made no recommendation, the
Shareholders have approved or accepted the proposed transaction, then any
option, including options not then otherwise exercisable held by you, shall
become immediately exercisable upon the issuance of the recommendation of the
Board of Directors or the approval or acceptance of the Shareholders, as the
case may be.

 

For greater clarity, no provision in this employment agreement shall be
deemed to supersede any provision of the Stock Option Plan of DRAXIS, as
amended from time to time, with respect to the right to exercise options held
by the employee in certain circumstances.

 

(2)                                  Except for the
ability to exercise all stock options upon a Change of Control as provided in Section 13(d)(1)(E),
the payments and entitlements outlined in Section 13(d)(1) shall become
due and payable if, and only if:

 

A.                                                           there has been
a Change of Control; and

B.                                                             within 12  months
following any Change of Control:

(i)             your employment is
terminated by DRAXIS or by any successor employer to DRAXIS, as the case may
be; or

(ii)          by its conduct as described
below, DRAXIS or any successor employer to DRAXIS, as the case may be,
constructively terminates your employment by:

·                  relocating the position and/or location of
your principal office more than 20 kilometers from the location of your office,
which is deemed to be Kirkland, Québec, on the date immediately prior to the
Change of Control, without your consent; or

·                  materially reducing your title, reporting
relationship, responsibilities or authority without your consent; or

·                  materially reducing the salary paid to by you
by DRAXIS or the successor employer or terminating or materially reducing the
value of your benefit programs, including, but not limited to, life insurance
benefits, accidental death and dismemberment benefits, long term disability
benefits, extended health coverage and dental benefits, which are referred to
in Section 3 above;

C.                                                             And, you elect
in writing to receive the payments outlined in Section 13(d)(1).

 

·                  By deleting Section 13(g) and
replacing it with the following Section 13(g):

 

(g)                                 Resignation and Retirement

 

You shall provide DRAXIS with three months notice, in writing, of your
resignation or your retirement from DRAXIS. 
Unless the Board of Directors of DRAXIS otherwise determines, you shall 

 

4

 

return to DRAXIS all stock options granted to you during your
employment with DRAXIS which have not vested as of the date you cease to be an
employee of DRAXIS and/ or the DRAXIS Group.

 

·                  By adding the following section
13(i):

 

(i)                                    Release and Discharge

 

All payments in accordance with Section 13 are subject to the
execution by you of DRAXIS’ standard release and discharge documents.

 

All of the other terms and conditions of your
Employment Agreement remain unchanged. 
We would ask that you confirm your acceptance of this modification by
signing the duplicate of this letter.

 

If you have any questions concerning this
modification, please do not hesitate to communicate with the undersigned.

 

Regards,

 

DRAXIS HEALTH
INC.

 

 

	
  /s/Dan Brazier

  	
   

  
	
   

  	
   

  
	
  Dan Brazier

  	
   

  
	
  President and CEO

  	
   

  

 

	
  ************************************************************************************************************

  

 

I hereby confirm having read the above mentioned
modification to my employment agreement dated October 17, 2003 and amended
March 26, 2004 and hereby confirm my acceptance of said modification.

 

Signed this 6th day of
February, 2008 at Montréal.

 

 

	
  /s/ Alida Gualtieri

  	
   

  
	
  Alida
  Gualtieri

  	
   

  

 

 

5Exhibit 4.72

 

 

January 31, 2008

 

 

BY PERSONAL DELIVERY

 

Mr. Mark Oleksiw

***

 

Re: Employment Agreement

 

Dear Mark:

 

Further to our recent discussions, we hereby confirm
that your employment agreement with DRAXIS Health Inc. dated March 9, 2004
(the “Employment Agreement”) is hereby amended as follows:

 

·                  By deleting Section 3 and
replacing it with the following Section 3:

 

You will be entitled to participate in all benefit
plans which the DRAXIS Group shall, from time to time make available to its
executive employees, subject to applicable eligibility rules thereof.  The benefits currently offered are:

 

·                  major medical

·                  drug

·                  dental

·                  group life

·                  short and long
term disability

·                  accidental
death and dismemberment

 

You
will also be entitled to an amount of up to 5% of your Base Salary, which exact
percentage shall be determined from year to year in lieu of participation in
DRAXIS’ Retirement Savings Program. (the “DRSP Amount”)

 

·                  By deleting Section 13(c) and
replacing it with the following Section 13(c):

 

(c)                                  Termination by DRAXIS
Without Serious Reason and Without Notice

 

DRAXIS may terminate this Agreement and your employment hereunder, in
its sole discretion, Without Notice and Without Serious Reason, effective
immediately upon the date you are advised of the termination (the “Date of
Termination”)

 

 

 

 

 

 

DRAXIS HEALTH INC./SANTÉ DRAXIS INC

16751 Trans Canada Highway, Kirkland, Québec, Canada H9H 4J4 Tél: (514)
694-8220 Fax: (514) 694-8201

 

 

If your employment is terminated Without Serious Reason and Without
Notice pursuant to this Section, DRAXIS shall:

 

1)                                                              Pay to you in a
lump sum a severance allowance equivalent to one year of your then current Base
Salary and, notwithstanding Section 6, a prorated portion of any eligible
bonus payment up to the Date of Termination to be paid only after the determination
by the Board that there shall be a bonus payment for the year in which the
termination took place and if the mutually agreed to management business
objectives have been achieved up to the Date of Termination, within two weeks
following the date of such termination.

2)                                                              Pay to you the
prorated portion of the DRSP Amount to the Date of Termination if the Date of
Termination is prior to December 31 (for example: if the Date of
Termination is February 28th, you would be entitled to the DRSP
Amount owed for the previous year, if not already paid, and the prorated
portion of the DRSP Amount for the period of January 1st to February 28th).

3)                                                              Pay to you all
outstanding vacation pay and any earned but unpaid Base Salary up to the date
of such termination within two weeks of the Date of Termination.

4)                                                              Reimburse you
for any business expenses incurred by you up to and including the Date of
Termination following provision by you of applicable receipts.

5)                                                              Maintain
coverage for six (6) months from the Date of Termination in the DRAXIS
benefit plan program (as set forth in Section 3), except for out of
country medical and short and long term disability which shall cease
immediately upon the Date of Termination.

 

The payment referred to in
paragraph 1, above, shall be guaranteed and shall not be subject to set off or
deduction as a result of your obtaining alternate employment following such
termination or otherwise mitigating any damages arising from such
termination.  Further, the payment
referred to in paragraph 1, above, is inclusive of all termination payments
that may be required by law, including pay in lieu of notice under the Civil Code of Québec.

 

The amounts paid to you pursuant to this paragraph shall be subject to
all required deductions.

 

Upon termination of your employment in accordance with this Section 13(c),
you shall return to DRAXIS all stock options, and other securities which have
not vested or accrued during your employment with DRAXIS, the whole in
accordance with the terms and conditions set forth in the option agreements.

 

·                  By deleting Section 13(d) and
replacing it with the following Section 13(d):

 

(d)           Termination Payment Following a
Change of Control

 

In accordance with section 13(d)(2) below, if there is a Change of
Control (as hereinafter defined) you shall be entitled to the following:

 

A.                                                           the amounts of
any unpaid Base Salary earned up to and including Date of Termination;

B.                                                             Any unpaid
vacation pay earned up to and including Date of Termination;

 

2

 

C.                                                             a lump sum amount,
equal to: two (2) times your then current Base Salary and two (2) times
the amount paid as a discretionary Bonus for the preceding calendar year
immediately prior to the date of the Change of Control, it being agreed that if
no bonus payment was made for the preceding year, you will be entitled to
receive a payment equal to two (2) times the prorated portion of any
eligible bonus payment up to the Date of Termination to be paid only after the
determination by the Board that there shall be a bonus payment for the year in
which the termination took place and if the mutually agreed to management
business objectives have been achieved up to Date of Termination; 

D.                                                            a lump sum
equal to two (2) times of the prorated portion of the DRSP Amount to the
Date of Termination if the Date of Termination is prior to December 31
(for example: if the Date of Termination is February 28th, you
would be entitled to the DRSP Amount owed for the previous year, if not already
paid, and two (2) times the prorated portion of the DRSP Amount for the
period of January 1st to February 28th);

E.                                                              the right to
exercise all DRAXIS stock options and other DRAXIS securities including those
not then otherwise exercisable as provided for below;

F.                                                              reimburse you
for any business expenses incurred by you up to and including the Date of
Termination following provision by you of applicable receipts;

G.                                                             The right to
receive six (6) months coverage in the DRAXIS benefit plan program (as set
out in Section 3) from the Date of Termination, except for out of country
medical and short and long term disability, which shall cease immediately upon
the Date of Termination.

 

The payments referred to in Section 13(d),
above, shall be guaranteed and shall not be subject to set off or deduction as
a result of your obtaining alternate employment following termination or
otherwise mitigating any damages arising from termination.  Further, the payment referred to in Section 13(d)(1)(C) above,
is inclusive of all termination payments that may be required by law, including
pay in lieu of notice under the Civil Code
of Québec.

 

The amounts paid to you pursuant to this paragraph shall be subject to
all required deductions.

 

For the purposes of this Agreement, a Change of Control shall be deemed
to occur in the following circumstances.

 

In
the event that at any date following the date of signature hereof:

 

(i)                                     the acquisition
by any persons acting jointly or in concert (as determined by the Securities Act (Ontario)), whether
directly or indirectly, of voting securities of the Corporation which, together
with all other voting securities of the Corporation held by such persons,
constitute in the aggregate more than 20% of all outstanding voting securities
of the Corporation;

 

(ii)                                  an
amalgamation, arrangement or other form of business combination of the
Corporation with another corporation which results in the holders of voting
securities of that other corporation holding, in the aggregate, more than 20%  of all
outstanding voting securities of the Corporation resulting from the business
combination; or

 

3

 

(iii)                               the sale,
transfer, lease or exchange of 50% or more of the property of the Corporation
to another person or corporation, other than in the ordinary course of business
of the Corporation, or to a Subsidiary.

 

and the Board of Directors of DRAXIS (the “Board of Directors”)
recommends acceptance of such offer to the Shareholders of DRAXIS (the
“Shareholders”) or, if the Board of Directors has made no recommendation, the
Shareholders have approved or accepted the proposed transaction, then any
option, including options not then otherwise exercisable held by you, shall
become immediately exercisable upon the issuance of the recommendation of the
Board of Directors or the approval or acceptance of the Shareholders, as the
case may be.

 

For greater clarity, no provision in this employment agreement shall be
deemed to supersede any provision of the Stock Option Plan of DRAXIS, as
amended from time to time, with respect to the right to exercise options held
by the employee in certain circumstances.

 

(2)           Except for the
ability to exercise all stock options upon a Change of Control as provided in Section 13(d)(1)(E),
the payments and entitlements outlined in Section 13(d)(1) shall become
due and payable if, and only if:

 

A.                                                           there has been
a Change of Control; and

B.                                                             within 12  months
following any Change of Control:

(i)             your employment
is terminated by DRAXIS or by any successor employer to DRAXIS, as the case may
be; or

(ii)          by its conduct as described
below, DRAXIS or any successor employer to DRAXIS, as the case may be,
constructively terminates your employment by:

·                  relocating the position
and/or location of your principal office more than 20 kilometers from the
location of your office, which is deemed to be Kirkland, Québec, on the date
immediately prior to the Change of Control, without your consent; or

·                  materially reducing your
title, reporting relationship, responsibilities or authority without your
consent; or

·                  materially reducing the
salary paid to by you by DRAXIS or the successor employer or terminating or
materially reducing the value of your benefit programs, including, but not
limited to, life insurance benefits, accidental death and dismemberment
benefits, long term disability benefits, extended health coverage and dental
benefits, which are referred to in Section 3 above;

C.                                                             And, you elect
in writing to receive the payments outlined in Section 13(d)(1).

 

4

 

·                  By deleting Section 13(g) and
replacing it with the following Section 13(g):

 

(g)           Resignation
and Retirement

 

You shall provide DRAXIS with three months notice, in writing, of your
resignation or your retirement from DRAXIS. 
Unless the Board of Directors of DRAXIS otherwise determines, you shall
return to DRAXIS all stock options granted to you during your employment with
DRAXIS which have not vested as of the date you cease to be an employee of
DRAXIS and/ or the DRAXIS Group.

 

·                  By adding the following section
13(i):

 

(i)            Release
and Discharge

 

All payments in accordance with Section 13 are subject to the
execution by you of DRAXIS’ standard release and discharge documents.

 

All of the other terms and conditions of your
Employment Agreement remain unchanged. 
We would ask that you confirm your acceptance of this modification by
signing the duplicate of this letter.

 

If you have any questions concerning this
modification, please do not hesitate to communicate with the undersigned.

 

Regards,

 

DRAXIS HEALTH
INC.

 

 

	
  /s/Dan Brazier

  	
   

  
	
   

  	
   

  
	
  Dan Brazier

  	
   

  
	
  President and CEO

  	
   

  

 

	
  ************************************************************************************************************

  

 

 

I hereby confirm having read the above mentioned
modification to my employment agreement dated March 9, 2004 and hereby
confirm my acceptance of said modification.

 

Signed this 11th day of
February, 2008 at Montréal.

 

 

	
  /s/ Mark Oleksiw

  	
   

  
	
  Mark
  Oleksiw

  	
   

  

 

 

5

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