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                                                                   EXHIBIT 10.10

                               CRAWFORD & COMPANY

                        1996 INCENTIVE COMPENSATION PLAN
               (As Amended and Restated through February 2, 1999)

Crawford & Company hereby establishes the Crawford & Company 1996 Incentive
Compensation Plan, effective as of January 1, 1996, to provide to the officers
and key employees of Crawford & Company additional cash incentive compensation
which is tied to the attainment of targeted increases in adjusted revenues and
adjusted pre-tax income of Crawford & Company on a consolidated basis.

I.   Definitions

The capitalized terms used in the Plan shall have the following meanings:

1.1  Actual Earnings shall mean the reported Earnings of the Company for the
     period with respect to which the Incentive Compensation Pool is determined.

1.2  Actual Earnings Percentage shall mean the percentage computed by
     multiplying (i) the Target Earnings Percentage by (ii) a fraction (which
     may not be larger than one) the numerator of which is Covered Earnings and
     the denominator of which is the difference between (A) the Target Earnings
     and (B) the Threshold Earnings.

1.3  Actual Revenues shall mean the reported Revenues of the Company for the
     period with respect to which the Incentive Compensation Pool is determined.

1.4  Chief Executive Officer shall mean the Chief Executive Officer of the
     Company.

1.5  Committee shall mean the Senior Compensation and Stock Option Committee of
     the Board of Directors of the Company.

1.6  Company shall mean Crawford & Company.

1.7  Covered Earnings shall mean the difference between (i) the Actual Earnings
     and (ii) the Threshold Earnings (but not less than zero).

1.8  Covered Salaries shall mean the base salaries of the Participants.

1.9  Earnings shall mean the reported pre-tax income of the Company, on a
     consolidated basis, adjusted to eliminate the effect, if any, of the
     cumulative effects of changes in accounting principles and any significant
     gains or losses resulting from the disposition of any major assets of the
     Company, such as the sale of land, the sale and leaseback of buildings, or
     the sale or other disposition of a subsidiary or portion of the Company's
     operations.

1.10 Incentive Compensation Pool shall mean the sum of (1) the Incentive
     Compensation Pool--Sales and Account Management; plus (2) the Incentive
     Compensation Pool--Other Officers and Key Employees.

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1.11 Incentive Compensation Pool--Other Officers and Key Employees shall mean
     the sum of (1) the amount computed by multiplying the lesser of Actual
     Earnings or Threshold Earnings by 1.5%; plus (2) the amount computed by
     multiplying (i) Actual Earnings by (ii) the Actual Earnings Percentage. In
     no event shall the Incentive Compensation Pool--Other Officers and Key
     Employees exceed 100% of the Covered Salaries of its Participants.

1.12 Incentive Compensation Pool--Sales and Account Management shall mean the
     greater of (1) the amount computed by multiplying the lesser of Actual
     Earnings or Threshold Earnings by .5%; or (2) the amount computed by
     multiplying the growth in Actual Revenues over Threshold Revenues by 1.5%,
     reduced by 10% for every 1% decline in the consolidated Pre-Tax Profit
     Margin of the Company on a pro rata basis. In no event shall the Incentive
     Compensation Pool--Sales and Account Management exceed 100% of the Covered
     Salaries of its Participants.

1.13 Participant shall mean any officer (other than the Chief Executive Officer)
     or home office or regional employee of the Company or its domestic or
     foreign subsidiaries designated by the Chief Executive Officer to
     participate in the Incentive Compensation Pool--Sales and Account
     Management or the Incentive Compensation Pool--Other Officers and Key
     Employees.

1.14 Pre-Tax Profit Margin shall mean the percentage derived by dividing
     Earnings by Revenues, both adjusted to eliminate the effect, if any, of
     significant acquisitions made by the Company in the relevant period.

1.15 Revenues shall mean the reported revenues of the Company, on a consolidated
     basis, adjusted to eliminate the effect, if any, of significant
     acquisitions made by the Company in the period with respect to which the
     Incentive Compensation Pool is determined.

1.16 Target Earnings shall mean the Committee's determination of achievable
     earnings for the Company for the fiscal year.

1.17 Target Earnings Percentage shall mean 5.22%.

1.18 Threshold Earnings shall mean the Committee's determination of Earnings
     below which no amount will be added to the Incentive Compensation Pool for
     earnings growth.

1.19 Threshold Revenues shall mean the Committee's determination of achievable
     Revenues for the Company in the period with respect to which the Incentive
     Compensation Pool is determined.

1.20 Plan shall mean this Crawford & Company 1996 Incentive Compensation Plan.

II.  Establishment of Threshold Revenues and Earnings

As soon as possible following the availability of audited financial statements
of the Company for the immediately preceding fiscal year and the preparation of
operational budgets for the current fiscal year, the Committee shall meet to
establish the (i) Threshold Revenues, (ii) Threshold Earnings and (iii) Target
Earnings for the current fiscal year. Any adjustments to the audited revenues
and pre-tax

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income of the Company in the calculations of Revenues and Earnings shall be
approved by the Committee.

III. Allocation and Payment to Participants

The Chief Executive Officer shall have total authority and discretion with
respect to the determination of amounts to be paid to the Participants in each
of the Incentive Compensation Pools under the provisions of this Plan. He may
delegate that responsibility and allocate amounts available for distribution to
the heads of the business units and support divisions of the Company. In the
event that an individual is no longer a Participant at the end of any period
with respect to which the Incentive Compensation Pool is determined by virtue of
his no longer being an employee of the Company or any of its domestic or foreign
subsidiaries on that date, such individual shall not be eligible for any
payments under this Plan, unless such individual's employment has been
terminated by reason of death, disability, or retirement. Nothing herein
contained shall be construed to require the Committee or the Chief Executive
Officer to authorize the allocation and payment of all or any amounts available
for distribution under the terms of this Plan. Amounts not distributed with
respect to any year shall not be carried over to subsequent fiscal years.
Payment to individual Participants shall be as soon as practical after the close
of the fiscal period, the availability of reported Revenues and Earnings for
that period, the calculation of the Incentive Compensation Pool for that period
by the Chief Financial Officer of the Company, and the approval of that
calculation by the Committee.

IV.  No Contract of Employment

The establishment of this Plan shall not grant to any Participant the right to
remain an employee for any specific term of employment or in any specific
capacity or as a Participant or at any specific rate of compensation.

V.   No Alienation or Assignment

A Participant shall have no right or power to alienate, commute, anticipate or
otherwise assign at law or equity all or any portion of amounts which may be
payable to him hereunder and the Committee and the Chief Executive Officer shall
have the right, in light of any such action, to suspend temporarily or terminate
permanently the status of such an individual as a Participant under this Plan.

VI.  Administration, Amendment and Termination

The Committee shall have all powers necessary to administer this Plan in its
absolute discretion and its determination shall be binding on the Company and
the Participants. The Board of Directors of the Company and the Committee have
the right to amend or terminate this Plan at any time.

VII. Construction

This Plan shall be construed in accordance with the laws of the State of Georgia
and the masculine shall include the feminine and the singular the plural, where
appropriate.

VII. Termination of Former Plan

The Annual Incentive Compensation Plan adopted effective January 1, 1993, is
hereby terminated.

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IN WITNESS WHEREOF, Crawford & Company has caused its duly authorized officer to
execute the Plan this 30th day of January, 1996, to evidence the adoption of
this Plan.

CRAWFORD & COMPANY

/s/ F. L. Minix
--------------------------------------
F. L. Minix, Chairman of the Board,
and Chief Executive Officer2006 Non-Employee Director Compensation

 

Exhibit 10.21

Kos Pharmaceuticals, Inc.

2006 Non-Employee Director Compensation

	 	 	 	 	 	 	 	 	 
	 	 	Per Meeting	 	 	Annual	 
	Board Meetings:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Annual Retainer
	 	 	 	 	 	$	30,000	 
	 
	 	 	 	 	 	 	 	 
	Meetings*
	 	$	2,500	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Committees:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Chairperson Retainer
	 	 	 	 	 	$	7,500	**
	 
	 	 	 	 	 	 	 	 
	Meetings*
	 	$	2,500	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Stock Option Awards:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Upon First Election
	 	 	 	 	 	20,000 shares
	 
	 	 	 	 	 	 	 	 
	Each Annual Meeting
	 	 	 	 	 	20,000 shares
	 
	 	 	 	 	 	 	 	 
	Restricted Stock Awards:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Each Annual Meeting
	 	 	 	 	 	5,000 shares

 

			
	*	 	Telephone attendance fees are $500 per meeting.
	 
	**	 	Audit committee chairperson receives $10,000 annual retainer.Employment Letter

 

Exhibit 10.22

October 14, 2005

- Revised -

CONFIDENTIAL

Mr. Kevin Clarke

130 Fairway Avenue

Verona, NJ 07044

Dear Kevin:

     I am delighted to confirm to you this offer of employment, which you have accepted, as Executive
Vice President and Chief Financial Officer at Kos Pharmaceuticals. In this capacity you will report to me.

     Your date of hire will be November 1, 2005 and your salary, which will be paid bi-weekly,
will be at an annual rate of $370,000. On January 1, 2006 your salary will be increased
to an annual rate of $400,000 and your next salary review will be in March 2007, consistent with
Kos’ Performance Management Program. You will also be paid a signing bonus of $300,000-
$100,000 will be paid upon your start date (payment will occur on the first pay-period after your
start date) and $200,000 will be paid on March 1, 2006, provided you are still employed with the
Company on that date. Your target performance bonus will be around 50% of your current base
compensation but not less than $250,000 for the calendar year 2006, and not less than $300,000
for the calendar year 2007, based on your continued employment and satisfactory performance.
After 2007, you will, of course, continue to be eligible for annual performance bonuses based on
your contributions and the results of the Company. Although it is impossible to commit to what
these bonus amounts might be, I would expect them to be at least in line with the bonus awards
paid to other executives at a similar level and with comparable performance, generally around
50% of base compensation. These bonus payments are usually made in the first quarter of the
following calendar year after review by the Compensation Committee of the Board of Directors.

     Subject
to the approval of the Board of Directors, you will be granted an option to
purchase 100,000 shares of Kos common stock, consistent with the Company’s 1996 Stock
Option Plan (the “Stock Option Plan’’) that provides for vesting of 25% of the option shares on
each anniversary of your employment. The exercise price of these options shall be the price of
the stock on the day the Board approves the award. You will receive detailed information about
the Stock Option Plan and specific exercise price under separate cover. Additionally, subject to
Board approval, you will receive 8,000 shares of fully paid and non-assessable common stock of
the Company, (the “Restricted Stock Shares”), that will vest over a three-year period. In addition,
consistent with Kos Pharmaceuticals’ normal and customary incentive compensation awards, you
will be eligible for additional annual stock option grants and/or Restricted Stock Shares. Such
awards have traditionally been granted on an annual basis and it is anticipated will continue to be
an important element of our compensation plan. However, such awards are granted at the sole
discretion of the Compensation Committee of the Board of Directors and based on individual and
company performance.

 

Kevin Clarke-Revised

Page 2 of 3

     You will be eligible for all Company benefit plans, consistent with the enclosed information
regarding our benefits programs, plus an added health insurance benefit for Corporate officers
(which is not included in the accompanying information), subject to the terms of such plans.
Eligibility for medical insurance will begin on December 1,
2005, and for the 401(k) plan, on March
1, 2006. You will be eligible for four weeks of paid vacation in addition to the Kos standard
fifteen paid holidays and an automobile allowance or a leased car with a retail value of up to
$70,000. You have the option of either leasing the chosen car through the Company’s fleet vendor,
or receiving the equivalent cash value of the lease option as a cash payment paid each pay period.
Both of these options include allowances for insurance and maintenance.

     In the event of a “Change in Control’’, you may elect, at any time during the 90-day period
immediately following such change in control, to deliver written
notice to the Company of your
termination of employment. For purposes of this agreement, a Change on Control shall be deemed to
have occurred when:

     (i) any person, including a “group’’ as defined in Section 13(d)(3) of the
Securities Exchange Act of 1934, as amended, other than Michael Jabaris or any of his
family members or affiliates, becomes the beneficial owner of fifty percent or more of
the capital stock of the Company;

     (ii) the Company is merged with or into any other company where members of the
Board of Directors of the Company immediately prior to such transaction do not
constitute a majority of the Board of Directors of the Company or the surviving entity
immediately following such transaction; or

     (iii) substantially all of the Company’s assets are acquired by any third party
not an affiliate of the Company or of Michael Jaharis, or any of his
family members or
affiliates.

     In the event of the termination of your employment with the Company, for any reason other
than death or disability, the Company shall provide the payments and benefits to you as
listed below:

	 	(a)	 	Following a Change in Control: All unvested stock options and Restricted
Stock Shares previously awarded shall be 100% vested effective as of the date of such
Change in Control or upon termination following such Change in Control plus one years’
compensation to include both your current base compensation and either (a) the agreed
guaranteed bonus (if such termination occurs in the calendar years 2006 or 2007) or
(b) a target bonus of no less than 50% of the current base compensation.
	 
	 	(b)	 	Termination for cause as defined in section 6(f)(3) of the Stock Option Plan,
any unvested part of the options shall lapse immediately upon the earlier of the
occurrence of such event or the last day that you are employed by or affiliated with
the Company.
	 
	 	(c)	 	Termination voluntarily without cause: In the event your employment or
affiliation with the Company ceases for any reason other than (a) (b) or (d) or death
or retirement, all unvested stock options shall expire thirty days following the last
day of employment. However, should you be terminated prior to the first anniversary of
your initial employment date, you will immediately vest in 25% of you initial stock
option grant (25,000 stock options shares) and these shares will be exercisable
consistent with the terms provided in the Company’s 1996 Stock Option Plan. all
Restricted Stock Shares previously awarded shall be 100% vested immediately upon
termination.

 

 

Kevin Clarke-Revised

Page 3 of 3

	 	(d)	 	In the event that you are terminated involuntarily without cause: Stock
options previously awarded to you shall continue to vest for two years from the date
of termination (as though you were still employed by the Company) consistent with the
Company’s 1996 Stock Option Plan. All Restricted Stock Shares previously awarded shall
be 100% vested immediately upon termination. In addition, you will receive one years’
compensation to include both your current base compensation and either (a) the agreed
guaranteed bonus (if such termination occurs in the calendar years 2006 or 2007) or
(b) a target bonus of no less than 50% of the current base compensation.
	 
	 	(e)	 	In either the event of a Change in Control or termination for
cause,
voluntarily or involuntarily, you will also be paid any unused vacation entitlement.

     As a condition of your employment, you will be required to sign (i) the Procedures and
Guidelines Governing Insider Trading and Disclosure, (ii) a Confidentiality and Intellectual
Property Agreement, and (iii) an Electronic and Telephonic Communications Policy. Two copies of
each document are enclosed; please sign one copy and return it in the enclosed envelope (the other
copy is for you to retain). This offer is also contingent upon successful completion of the Kos
background check and drug screen. Information regarding our drug screening process is enclosed in
your offer package. Please contact Jessica Zenkert in the Human Resources Department at (609)
495-0512 should you need assistance in scheduling you drug screen.

     As an employee of Kos Pharmaceuticals, Inc., you will be an at-will employee, and your
employment is for an indefinite period to time and may be terminated by you, or the Company, at
any time, for any reason.

     On
behalf of both Mike Jaharis, Dan Bell and the Kos Leadership Team, we are genuinely pleased
about your becoming a key member of senior management at Kos. We have much to do and our future is
very bright, as we continue “Pioneering Medicines for a
Better Life”. I look forward to forming a
strong working relationship with you and to all of the contributions that I know you will bring to
Kos — a Company that is the sixth fastest growing Company in the USA.

Cordinally,

/s/ Adrian Adams

Adrian Adams

President and CEO

AA/ova

cc: Susan E. Taylor

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