Document:

April 2, 2001

September 17, 2001

Mr. Michael Nestor

5401 Leytonstone Court

Oak ridge, NC 27310

 

Dear Michael:

I am pleased to offer you the position of President, Human Pharmaceuticals   U.S. located in New Jersey.  I look forward to having you on our team.

We are confirming the following compensation with the related fringe benefits, as a beginning of what we hope will be a fruitful relationship.  As an employee of Alpharma, you will receive an annual salary of $450,000 and an annual auto allowance of $15,000.  In addition, you will be eligible to participate in the Company's Performance Incentive Plan, with a bonus target of 50% of your 2001 base earnings. Please note that incentive payment depends upon both individual and Company performance.  This offer also includes 20,000 stock options, strike price to be determined as the average price (combining the high and low for the day) upon your first day of employment.  We are also pleased to offer you a sign-on bonus of  $366,800, with an equal amount scheduled to be paid to you the first pay period commencing after your second anniversary with the company.

You will be eligible to earn vacation at a rate of .77 days per pay period, for an annualized rate of four weeks vacation per year.  You will also be given 12 holidays each calendar year (six of which are designated as floating holidays).   Additionally, you will be entitled to the Alpharma fringe benefit package that includes the following: 

	The Company will reimburse auto maintenance expenses of up to                        $2,000/year for vehicles up to five years old and up to $1,000/year for                  vehicles more than five years old.  You will also be reimbursed for auto               insurance, including a million dollar umbrella policy.

	Life insurance for three times your annual salary with the premium paid by the Company.

	A disability program that pays sixty percent of your base salary integrated with social security until age seventy.  The Company pays the premium.

	A Defined Benefit Pension Plan fully paid by the Company in which qualified employees vest 100% after 5 years' employment.

 

	A Savings Plan to which the employee can save either on a pre and/or post tax basis and contribute up to 15% of base pay.  The Company provides a service-weighted match on the first 6% of employee contributions.  Based on length of service, the Company match increases over time up to 100%.  Enrollment is subject to plan provisions.

	A group health and medical plan for which the employee pays $11.54 for single coverage or $27.69 for family coverage, for each two-week period. The Company pays the remainder of the premium.  You become eligible for this coverage on your date of hire.

	A Stock Purchase Plan in which employees can elect to contribute up to four percent of salary for the purchase of Alpharma stock.  The Company will match 50% of the employee's contribution.  The Company's match is vested at the end of each quarter.  Enrollment is subject to plan provisions.

	A tuition assistance program, which pays for job related studies provided the course, is passed with a "C" or better. 

	Eligibility to participate in the Alpharma Stock Option Plan.

	Your current relocation benefits from Faulding Inc. will be available to you.  The terms outlined in your offer letter from Frank Condella dated November 2, 2000 apply to your new role excluding your first day of employment; which will be considered the date of Change in Control.

	Be entitled to receive an annual $3,000 allowance (taxable) for tax and or financial planning and tax return preparation.

Given the importance of your position, you will be required to provide Alpharma with three months notification in the event of your resignation.  You are also eligible for eighteen months of severance pay in the event you are terminated for any reason other than cause.  You would also be entitled to this severance schedule should you experience a diminution of responsibilities or change in job title reflecting less responsibility. You also acknowledge our plans to hire at some future date a global leader for the Human Pharmaceutical business as well as Research & Development Leader for the global business, which would not constitute a diminution.  Should you choose to resign from Alpharma prior to your second year anniversary date, you will forfeit the second payment of $366,800.  Finally, we are in the midst of developing a new policy regarding change in control and when that policy is finalized the terms of that policy will be communicated to you.  In the meantime, in the event of your termination within six (6) months after a change in control of the company or in the Company's Chief Executive Officer, your existing eighteen-month severance schedule would apply.

 Michael, I am very excited about you joining Alpharma. Please note that this offer of employment is contingent upon the results of your reference check and providing necessary identification for proof of citizenship and /or authorization to work in the U.S on your first day of employment.  Of course, this offer is also contingent upon the approval of the transaction with Mayne receiving the necessary shareholder approvals, as well. If you have any questions regarding documentation, you can contact George Rose at (201) 228 2130.

I would appreciate your acknowledging this offer of employment by signing this letter as a matter of record.  Please return the signed copy to George.

Very truly yours,

 

Ingrid Wiik

President and Chief Executive Officer 

 

 
Agreed and Accepted

           
__________________________________

Michael Nestor Date,-, - ~ <

 

 

August 29, 2000 

Mr. Richard J. Cella 

2 Abedim Way 

Califon, NJ 07830 

Dear Richard: 

I am pleased to offer you the position of Chief Information Officer for Alpharma Inc.  In this capacity you will be reporting directly to me, be a member of Alpharma's Operating Committee and elected an officer of the company.  I look forward to having you on our team. 

I would like to confirm the following compensation with the related fringe benefits as a beginning of what I am confident will be a fruitful relationship.  As an employee of Alpharma you will: 

*Receive an initial annual salary of $250,000.  In accordance with our current practice, your base salary will be reviewed for possible adjustment at the end of each calendar year.  Your first performance review for possible salary adjustment will be in December 2000 with any adjustment effective January l, 2001. 

*Receive a taxable auto allowance of $15,000/year and be reimbursed for auto maintenance expenses of up to $2,000/year for vehicles up to five years old and up to $1,000/year for vehicles more than five years old.  You will also be reimbursed for auto insurance (grossed-up), including a million-dollar umbrella policy. 

*Be eligible to participate in the Company's Performance Incentive Plan beginning for the year 2000 on a pro rata basis.  Under the current plan, at the Chief Information Officer and Operating Committee level, your incentive target is 50% of your annual base earnings.  Any actual incentive payment is contingent upon both Company and your individual performance. 

*Be granted 20,000 options to purchase shares of Alpharma, Inc. Class "A" stock effective on your first day of employment with Alpharma.  In addition, you will be eligible to receive stock options under the normal terms of the Company's Stock Option Plan.  (Currently options granted become exercisable at 25% of the total granted, one, two, three and four years from the date of the grant.  Option expires seven (7) years after grant).  Historically, options have been granted in March/April of each year based on the Company's performance and individual performance.  You will first be eligible for additional options for grants expected to be issued in early 2001. 

*Be entitled to four (4) weeks vacation per year.  (Per Alpharma policy, your vacation will be earned on a pro rata basis each pay period.)  You will also be given 12 holidays per calendar year (six of which are designated as floating holidays ). 

*Be entitled to receive an annual $3,000 allowance (taxable) for tax and or financial planning and tax return preparation. 

Additionally, you will be entitled to the Alpharma fringe benefit package, which includes the following: 

* A Savings Plan to which the employee can save either on a pre and/or post tax basis and contribute up to 15% of base pay.  The Company provides a service-weighted match on the first 6% of employee contributions.  Based on length of service, the Company match begins at 40% and increases over time to 100%.  Enrollment is subject to plan provisions. 

*A Stock Purchase Plan in which employees can elect to contribute up to four (4) percent of salary for the purchase of Alpharma's stock, and the Company will match 50% of the employee's contribution.  The Company's match is vested at the end of each quarter. Enrollment is subject to plan provisions. 

* A Defined Benefit Pension Plan fully paid by the Company in which qualified employees vest 100% after 5 years employment. 

*A group health and medical plan for which the employee pays $11.54 for single coverage or $27.69 for family coverage, for each two-week period.  The Company pays for the remainder of the premium.  You become eligible for this coverage on your date of hire. 

*Life insurance for three times your annual salary with the premium paid by the Company. 

* A disability program that pays sixty percent of your base salary integrated with social security until age seventy.  The Company pays the premium. 

*A tuition assistance program which pays for job related studies provided the course is passed with a "C" or better. 

Because of the extremely important role you will have in the Company, if you resign for any reason, you will give 90 days notice. In the event that you are terminated without cause or within six (6) months after a change in control of the Company or a change in the Company's Chief Executive Officer, you will continue to receive your base salary, continue vesting on stock options granted and will continue to participate in the Alpharma group health plan (i.e. medical, dental) paying the same premium as an employee until earlier of: 

a) the date that you begin a new job, or 

b) twelve (12) months following the termination of your employment by Alpharma. 

The salary continuation payments and health benefit participation are subject to you signing the Company's standard release from liability. 

This offer is contingent upon obtaining satisfactory references and your signing our standard confidentiality agreement. 

Richard, I truly believe that Alpharma is poised for an exciting and rewarding future.  I am excited about you joining Alpharma and the role I believe you can play in the success of the Company. 

I would appreciate a response to this offer by September 8 and hope that you can start as soon as possible thereafter.

Sincerely yours,

 

Ingrid Wiik 

President and Chief Executive Officer 

 

Agreed and accepted: 

 

 

__________________________________________

 Richard J. CellaDate

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