Document:

Exhibit 10.11
                                                                   -------------

                             STOCK OPTION AGREEMENT
                             ----------------------

         This STOCK OPTION AGREEMENT made as of this 23rd day of July, 2003
(this "Agreement"), by and between Elite Pharmaceuticals, Inc., a Delaware
corporation (the "Company"), and Bernard Berk (the "Executive").

                                WITNESSETH THAT:

         WHEREAS, on July 22, 2003 the Compensation Committee of the Board of
Directors of the Company granted to the Executive an option (the "Option") to
purchase 300,000 shares (the "Option Shares") of the Corporation's Common Stock,
par value $.01 per share (the "Common Stock") effective upon the date of the
execution and delivery of the Executive's Employment Agreement (the "Grant
Date"); and

         WHEREAS, the Company and the Executive desire to memorialize the terms
and conditions of the grant of the Option to the Executive;

         NOW, THEREFORE, in consideration of the foregoing and the mutual
agreements herein contained, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto,
intending to be legally bound, agree as follows:

1.   Option Grant. The Company granted to the Executive an Option to purchase
     from the Company all or any portion of the Option Shares, on the terms and
     conditions herein set forth. It is intended that the grant of the Option
     shall, to the maximum extent permitted by law, qualify as an incentive
     stock option, as defined in Section 422 of the Internal Revenue Code of
     1986, as amended. However, notwithstanding such designation, the Executive
     acknowledges that, if he will becomes eligible in any calendar year to
     exercise Option Shares having a fair market value (as determined as of the
     Grant Date) in excess of $100,000, those Option Shares representing the
     excess shall be treated as nonstatutory stock options. The portion of the
     Option that qualifies as an incentive stock shall be subject to the terms
     and conditions of the Company's 1997 Incentive Stock Plan (the "Plan"). In
     the event of any conflict between the terms and conditions of this
     Agreement and the Plan, this Agreement shall control.

2.   Exercise Price; Time of Exercise.
     ---------------------------------

     (a)  The exercise price for the Option Shares shall be $2.15 per share (the
     "Option Price"), the closing price of a share of Common Stock, as listed on
     the American Stock Exchange, on the Grant Date. The exercise price shall be
     paid by check of the Executive.

     (b)  The Option shall be exercisable solely upon the Company's consummation
     of a Strategic

<PAGE>

     Transaction (as defined in the Employment Agreement, dated as of July 23,
     2003 (the "Employment Agreement"), by and between the Company and the
     Executive).

3.   Term of Option. The term of the Option shall be for a period of ten (10)
     years from the Grant Date (the "Termination Date"), subject to earlier
     termination as hereinafter provided.

4.   Termination Period. This Option may be exercised for three (3) months after
     the Executive ceases to be employed by the Company (but in no event later
     than the Termination Date); provided, however, in the event the Executive
     ceases to be employed by the Company due to his death or Permanent
     Disability (as defined in the Employment Agreement), this Option may be
     exercised by the Executive (or, in the case of the Executive's death, by
     the Executive's estate or by any person who acquires the right to exercise
     the Option by bequest or inheritance) for six (6) months after the
     Executive ceases to be employed by the Company (but in no event later than
     the Termination Date). Notwithstanding the foregoing, in the event the
     Company terminates the Executive's employment pursuant to a Termination for
     Cause (as defined in the Employment Agreement) or the Executive voluntarily
     terminates his employment with the Company (other than as a result of a
     Termination for Good Reason (as defined in the Employment Agreement) or the
     death or Permanent Disability of the Executive), the Option shall
     immediately terminate upon the date the Executive ceases to be employed by
     the Company and the Executive shall no longer have the right to exercise
     the Option and purchase the Option Shares.

5.   Non-Transferability. The Option shall not be transferable otherwise than by
     will or the laws of descent and distribution, and the Option may be
     exercised, during the lifetime of the Executive, only by the Executive.

6.   Not a Contract of Employment. Nothing in this Agreement shall confer upon
     the Executive any right to continue in the employ of the Company or of any
     of its subsidiaries or interfere in any way with the right of the Company
     or any such subsidiary to terminate the employment of the Executive at any
     time.

7.   Reservation of Shares. The Company shall at all times during the term of
     the Option reserve and keep available such number of shares of Common Stock
     as will be sufficient to satisfy the requirements of this Agreement.

8.   Investment Certificate. Prior to the receipt of stock certificates pursuant
     to the exercise of the Option granted hereunder, the Executive shall, if
     required in the Company's discretion, demonstrate an intent to hold the
     shares acquired by exercise of the Option for investment and not with a
     view to resale or distribution thereof to the public by delivering to the
     Company an investment certificate or letter in such form as the Company may
     require.

9.   Status. Neither the Executive nor the Executive 's executor, administrator,
     heirs or legatees shall have any rights as a holder of shares of Common
     Stock subject to this Option until exercise of the Option, payment of the
     Option Price, and the issuance of a stock certificate evidencing the Option
     Shares issuable upon exercise of the Option.

                                      -2-
<PAGE>

10.  Certain Adjustments. In the event of any merger, reorganization,
     consolidation, recapitalization, stock dividend, other change in corporate
     structure affecting the Common Stock, or spin-off or other distribution of
     assets to stockholders, an appropriate adjustment shall be made to the
     number of Option Shares, the Option Price and the number of shares of
     Common Stock reserved for issuance under this Agreement.

11.  Tax Withholding. The exercise of any Option Shares is subject to the
     condition that, if at any time the Company shall determine, in its
     discretion, that the satisfaction of withholding tax or other withholding
     liabilities under any state or Federal law is necessary or desirable as a
     condition of, or in connection with, such exercise or the delivery of
     Option Shares pursuant thereto, then, in such event, the exercise of the
     Option or any portion thereof shall not be effective unless and until such
     withholding tax or other withholding liabilities shall have been satisfied
     in a manner acceptable to the Company.

12.  Miscellaneous.
     --------------

     (a)  All notices, demands, requests, or other communications that may be or
     are required to be given, served, or sent by a party pursuant to this
     Agreement shall be in writing and shall be (i) personally delivered, (ii)
     mailed by first-class, registered or certified mail, return receipt
     requested, postage prepaid, or (iii) sent by overnight delivery carrier,
     addressed as follows:

                        (A)  If to the Company:

                             Elite Pharmaceuticals, Inc.
                             165 Ludlow Ave
                             Northvale, New Jersey  07647
                             Attention:  Chairman of the Board

                        (B)  If to the Executive:

                             Bernard Berk
                             [____________________]

     Each party may designate by notice in writing, in the manner described
     above, a new address to which any notice, demand, request, or communication
     required or permitted by this Agreement may be sent. Any notice, demand,
     request, or communication that shall be delivered, mailed or transmitted in
     the manner described above shall be deemed given, served, sent or received
     for all purposes when it is delivered to the addressee. An affidavit of
     personal delivery, the return receipt, or the delivery receipt shall be
     deemed conclusive, but not exclusive, evidence of such delivery.

     (b)  The invalidity of any one or more provisions hereof shall not affect
     the remaining portions of this Agreement; and if one or more of the
     provisions contained herein should be invalid, or should operate to render
     this Agreement invalid, this Agreement shall be construed as if such
     invalid provisions had not been inserted.

                                      -3-
<PAGE>

     (c)  It is the express intention and agreement of the parties hereof that
     all covenants and agreements made in this Agreement shall survive the
     execution and delivery of this Agreement and the exercise (if any) of the
     Option.

     (d)  Neither the waiver by a party of a breach of or a default under any of
     the provisions of this Agreement, nor the failure of a party, on one or
     more occasions, to enforce any of the provisions of this Agreement or to
     exercise any right, remedy, or privilege hereunder shall thereafter be
     construed as a waiver of any subsequent breach or default of a similar
     nature, or as a waiver of any such provisions, rights, remedies, or
     privileges hereunder.

     (e)  Subject to any provisions hereof restricting transfer, encumbrance and
     assignment, this Agreement shall be binding upon and shall inure to the
     benefit of the parties hereto and their respective heirs, personal
     representatives, successors, and assigns.

     (f)  It is the explicit intention of the parties hereto that no person or
     entity other than the parties hereof is or shall be entitled to bring any
     action to enforce any provisions of this Agreement against any parties
     hereto, and that the covenants, undertakings, and agreements set forth in
     the Agreement shall be solely for the benefit of, and shall be enforceable
     only by, the parties hereto and their respective heirs, personal
     representatives, successors and assigns as permitted hereunder.

     (g)  This Agreement contains the entire agreement among the parties with
     respect to subject matter hereof, and supersedes all prior oral or written
     agreements, commitments, or understandings with respect to the matters
     provided for herein.

     (h)  Article, section and subsection headings contained in this Agreement
     are inserted for convenience of reference only, shall not be deemed to be
     part of this Agreement for any purpose, and shall not in any way define or
     affect the meaning, construction or scope of any of the provisions hereof.

     (i)  This Agreement, the rights and obligations of the parties hereto, and
     any claims or disputes relating thereto, shall be governed by and construed
     in accordance with the internal laws of the State of Delaware without
     giving effect to the choice of law principles thereof. Each of the parties
     hereto irrevocably submits and consents to the exclusive jurisdiction of
     and laying of venue in the courts of the State of New Jersey and the United
     States District Court for the District of New Jersey for the purpose of any
     suit, action, proceeding or judgment relating to or arising, directly or
     indirectly, out of this Agreement and the transactions contemplated hereby.
     Each party hereto irrevocably waives any objection to the exclusive laying
     of venue of any suit, action or proceeding brought in such courts and
     irrevocably waives any claim that any such suit, action or proceeding
     brought in any such court has been brought in an inconvenient forum.

     (j)  THE EXECUTIVE REPRESENTS THAT HE AND/OR HIS OTHER PROFESSIONAL
     ADVISORS HAVE HAD THE OPPORTUNITY TO REVIEW THIS AGREEMENT.

                                      -4-
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Agreement to be duly
executed by an officer hereunto duly authorized, and the Executive has hereunto
set his hand, all as of the day and year first above written.

                                            ELITE PHARMACEUTICALS, INC.

                                            By:
                                               ---------------------------------
                                               Name:  John A. Moore
                                               Title: Chairman of the Board

                                            ------------------------------------
                                                       Bernard BerkExhibit 10.12
                                                                   -------------

                             STOCK OPTION AGREEMENT
                             ----------------------

         This STOCK OPTION AGREEMENT made as of this 23rd day of July, 2003
(this "Agreement"), by and between Elite Pharmaceuticals, Inc., a Delaware
corporation (the "Company"), and John A. Moore (the "Optionee").

                                WITNESSETH THAT:

         WHEREAS, on June 3, 2003 (the "Grant Date"), the Board of Directors of
the Company granted to the Optionee an option (the "Option") to purchase 300,000
shares (the "Option Shares") of the Company's Common Stock, par value $.01 per
share (the "Common Stock"); and

         WHEREAS, the Company and the Optionee desire to memorialize the terms
and conditions of the grant of the Option to the Optionee;

         NOW, THEREFORE, in consideration of the foregoing and the mutual
agreements herein contained, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto,
intending to be legally bound, agree as follows:

1.   Option Grant. The Company granted to the Optionee an Option to purchase
     from the Company all or any portion of the Option Shares, on the terms and
     conditions herein set forth. It is intended that the Option shall
     constitute a non-qualified stock option.

2.   Exercise Price; Time of Exercise.
     ---------------------------------

     (a)  The exercise price for the Option Shares shall be $2.01 per share (the
     "Option Price"), the closing price of a share of Common Stock, as listed on
     the American Stock Exchange, on the Grant Date. The exercise price shall be
     paid by check of the Optionee.

     (b) The Option shall be one hundred percent (100%) exercisable on the Grant
     Date.

3.   Term of Option. The Option, to the extent not previously exercised, shall
     terminate ten (10) years from the Grant Date.

4.   Non-Transferability. The Option shall not be transferable otherwise than by
     will or the laws of descent and distribution, and the Option may be
     exercised, during the lifetime of the Optionee, only by the Optionee.

5.   Services as a Director. Nothing in this Agreement gives the Optionee any
     right to continued service as a director or officer of the Company or
     limits in any way the right of the Company and/or its directors or its
     stockholders to terminate that service.

<PAGE>

6.   Reservation of Shares. The Company shall at all times during the term of
     the Option reserve and keep available such number of shares of Common Stock
     as will be sufficient to satisfy the requirements of this Agreement.

7.   Investment Certificate. Prior to the receipt of stock certificates pursuant
     to the exercise of the Option granted hereunder, the Optionee shall, if
     required in the Company's discretion, demonstrate an intent to hold the
     shares acquired by exercise of the Option for investment and not with a
     view to resale or distribution thereof to the public by delivering to the
     Company an investment certificate or letter in such form as the Company may
     require.

8.   Status. Neither the Optionee nor the Optionee 's executor, administrator,
     heirs or legatees shall have any rights as a holder of shares of Common
     Stock subject to this Option until exercise of the Option, payment of the
     Option Price, and the issuance of a stock certificate evidencing the Option
     Shares issuable upon exercise of the Option.

9.   Certain Adjustments. In the event of any merger, reorganization,
     consolidation, recapitalization, stock dividend, other change in corporate
     structure affecting the Common Stock, or spin-off or other distribution of
     assets to stockholders, an appropriate adjustment shall be made to the
     number of Option Shares, the Option Price and the number of shares of
     Common Stock reserved for issuance under this Agreement.

10.  Tax Withholding. The exercise of any Option Shares is subject to the
     condition that, if at any time the Company shall determine, in its
     discretion, that the satisfaction of withholding tax or other withholding
     liabilities under any state or Federal law is necessary or desirable as a
     condition of, or in connection with, such exercise or the delivery of
     Option Shares pursuant thereto, then, in such event, the exercise of the
     Option or any portion thereof shall not be effective unless and until such
     withholding tax or other withholding liabilities shall have been satisfied
     in a manner acceptable to the Company.

11.  Miscellaneous.
     --------------

     (a)  All notices, demands, requests, or other communications that may be or
     are required to be given, served, or sent by a party pursuant to this
     Agreement shall be in writing and shall be (i) personally delivered, (ii)
     mailed by first-class, registered or certified mail, return receipt
     requested, postage prepaid, or (iii) sent by overnight delivery carrier,
     addressed as follows:

                                (A)  If to the Company:

                                     Elite Pharmaceuticals, Inc.
                                     165 Ludlow Ave
                                     Northvale, New Jersey  07647
                                     Attention:  Chief Executive Officer

                                (B)  If to the Optionee:

                                     John A. Moore
                                     [___________________]

                                      -2-
<PAGE>

     Each party may designate by notice in writing, in the manner described
     above, a new address to which any notice, demand, request, or communication
     required or permitted by this Agreement may be sent. Any notice, demand,
     request, or communication that shall be delivered, mailed or transmitted in
     the manner described above shall be deemed given, served, sent or received
     for all purposes when it is delivered to the addressee. An affidavit of
     personal delivery or the delivery receipt shall be deemed conclusive, but
     not exclusive, evidence of such delivery.

     (b)  The invalidity of any one or more provisions hereof shall not affect
     the remaining portions of this Agreement; and if one or more of the
     provisions contained herein should be invalid, or should operate to render
     this Agreement invalid, this Agreement shall be construed as if such
     invalid provisions had not been inserted.

     (c)  It is the express intention and agreement of the parties hereof that
     all covenants and agreements made in this Agreement shall survive the
     execution and delivery of this Agreement and the exercise (if any) of the
     Option.

     (d)  Neither the waiver by a party of a breach of or a default under any of
     the provisions of this Agreement, nor the failure of a party, on one or
     more occasions, to enforce any of the provisions of this Agreement or to
     exercise any right, remedy, or privilege hereunder shall thereafter be
     construed as a waiver of any subsequent breach or default of a similar
     nature, or as a waiver of any such provisions, rights, remedies, or
     privileges hereunder.

     (e)  Subject to any provisions hereof restricting transfer, encumbrance and
     assignment, this Agreement shall be binding upon and shall inure to the
     benefit of the parties hereto and their respective heirs, personal
     representatives, successors, and assigns.

     (f)  It is the explicit intention of the parties hereto that no person or
     entity other than the parties hereof is or shall be entitled to bring any
     action to enforce any provisions of this Agreement against any parties
     hereto, and that the covenants, undertakings, and agreements set forth in
     the Agreement shall be solely for the benefit of, and shall be enforceable
     only by, the parties hereto and their respective heirs, personal
     representatives, successors and assigns as permitted hereunder.

     (g)  This Agreement contains the entire agreement among the parties with
     respect to subject matter hereof, and supersedes all prior oral or written
     agreements, commitments, or understandings with respect to the matters
     provided for herein.

     (h)  Article, section and subsection headings contained in this Agreement
     are inserted for convenience of reference only, shall not be deemed to be
     part of this Agreement for any purpose, and shall not in any way define or
     affect the meaning, construction or scope of any of the provisions hereof.

     (i)  This Agreement, the rights and obligations of the parties hereto, and
     any claims or disputes relating thereto, shall be governed by and construed
     in accordance with the internal laws of the State of Delaware without
     giving effect to the choice of law principles thereof.

                                      -3-
<PAGE>

     Each of the parties hereto irrevocably submits and consents to the
     exclusive jurisdiction of and laying of venue in the courts of the State of
     New Jersey and the United States District Court for the District of New
     Jersey for the purpose of any suit, action, proceeding or judgment relating
     to or arising, directly or indirectly, out of this Agreement and the
     transactions contemplated hereby. Each party hereto irrevocably waives any
     objection to the exclusive laying of venue of any suit, action or
     proceeding brought in such courts and irrevocably waives any claim that any
     such suit, action or proceeding brought in any such court has been brought
     in an inconvenient forum.

     (j)  THE OPTIONEE REPRESENTS THAT HE AND/OR HIS OTHER PROFESSIONAL ADVISORS
     HAVE HAD THE OPPORTUNITY TO REVIEW THIS AGREEMENT.

                                      -4-
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Agreement to be duly
executed by an officer hereunto duly authorized, and the Optionee has hereunto
set his hand, all as of the day and year first above written.

                                          ELITE PHARMACEUTICALS, INC.

                                          By:
                                             -----------------------------------
                                             Name:  Bernard Berk
                                             Title: Chief Executive Officer

                                          --------------------------------------
                                                      John A. Moore

                                      -5-

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