AMENDMENT NO. 1, DATED MAY 19, 2009, TO EMPLOYMENT AGREEMENT, DATED DECEMBER 14, 1999, BY AND BETWEEN IMPAX LABORATORIES, INC. AND LARRY HSU, PH.D.
EXHIBIT 10.3
AMENDMENT NO. 1, DATED MAY 19, 2009, TO
EMPLOYMENT AGREEMENT, DATED DECEMBER 14, 1999, BY AND BETWEEN
IMPAX LABORATORIES, INC. AND XXXXX XXX, PH.D.
EMPLOYMENT AGREEMENT, DATED DECEMBER 14, 1999, BY AND BETWEEN
IMPAX LABORATORIES, INC. AND XXXXX XXX, PH.D.
Section 4.2 of the Employment Agreement, dated December 14, 1999, by and between the Company
and Xxxxx Xxx, Ph.D. (the “Agreement”), is amended by adding the following sentence as the last
sentence in the paragraph:
“Notwithstanding the foregoing, Executive shall not receive any payments provided by this
Section 4.2 in connection with a Change in Control unless Executive’s employment simultaneously
terminates therewith or there shall occur a subsequent actual or constructive termination of
Executive’s employment as result of such Change in Control.”
Except as expressly modified or amended hereby, the Agreement shall continue in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 1 as of May 19, 2009.
IMPAX LABORATORIES, INC., a Delaware corporation
/s/ Xxxxxx X. Xxxx, Xx.
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By: |
Xxxxxx X. Xxxx, Xx. | |
Title: |
Senior Vice President, Finance, and Chief Financial Officer |
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/s/ Xxxxx Xxx, Ph.D.
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