0000899681-05-000317 Sample Contracts

TERM LOAN AND SECURITY AGREEMENT DATED AS OF DECEMBER 31, 2004
Loan and Security Agreement • April 18th, 2005 • Pharmaceutical Formulations Inc • Pharmaceutical preparations • New York

TERM LOAN AGREEMENT dated as of December 31, 2004, between PHARMACEUTICAL FORMULATIONS INC., 460 Plainfield Avenue, Edison, New Jersey 08818, a Delaware corporation (the "Borrower"), and ICC INDUSTRIES INC., 460 Park Avenue, New York, New York 10022, a New York corporation (the "Lender").

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The CIT Group/Business Credit, Inc. T: 212 382-7000 1211 Avenue of the Americas New York, NY 10036
Pharmaceutical Formulations Inc • April 18th, 2005 • Pharmaceutical preparations

Pharmaceutical Formulations, Inc. 460 Plainfield Avenue Edison, New Jersey 08817 Konsyl Pharmaceuticals, Inc. 8050 Industrial Park Road Easton, Maryland 21601

MODIFICATION AND EXTENSION OF LEASE
Modification and Extension of Lease • April 18th, 2005 • Pharmaceutical Formulations Inc • Pharmaceutical preparations

THIS MODIFICATION AND EXTENSION OF LEASE dated as of the 28th day of November, 2003, by and between 460 Plainfield Avenue Associates, L.P., with offices at c/o Broadway Management, 80 Broad Street, 29th Floor, New York, New York 10004 (hereinafter referred to as "Landlord"), and Pharmaceutical Formulations, Inc., as successor in interest to Private Formulations, Inc., with offices at 460 Plainfield Avenue, Edison, New Jersey 08818 (hereinafter referred to as "Tenant").

MASTER SECURITY AGREEMENT dated as of 12/28/01 ("Agreement")
Master Security Agreement • April 18th, 2005 • Pharmaceutical Formulations Inc • Pharmaceutical preparations

THIS AGREEMENT is between General Electric Capital Corporation (together with its successors and assigns, if any, "Secured Party") and Pharmaceutical Formulations, Inc. ("Debtor"). Secured Party has an office at 44 Old Ridgebury Road, Danbury, CT 06810-5105. Debtor is a corporation organized and existing under the laws of the state of Delaware. Debtor's mailing address and chief place of business is 460 Plainfield Avenue, Edison, NJ 08818.

The CIT Group/Business Credit, Inc. T: 212 382-7000 1211 Avenue of the Americas New York, NY 10036
Pharmaceutical Formulations Inc • April 18th, 2005 • Pharmaceutical preparations

Pharmaceutical Formulations, Inc. 460 Plainfield Avenue Edison, New Jersey 08817 Konsyl Pharmaceuticals, Inc. 8050 Industrial Park Road Easton, Maryland 21601

Lease
Lease • April 18th, 2005 • Pharmaceutical Formulations Inc • Pharmaceutical preparations • New Jersey
July 26, 2004 Mr. Brian Bradley 19 Shy Creek Road Pittstown, New Jersey 08867 Dear Brian:
Pharmaceutical Formulations Inc • April 18th, 2005 • Pharmaceutical preparations

This letter (the "Agreement") will confirm the terms and conditions under which we offer you the position of Executive Vice President of Sales and Marketing of Pharmaceutical Formulations, Inc. (the "Company"). You agree that this is a full-time position and that you will devote your full-time efforts to your responsibilities to the Company and undertake no other employment without the written consent of the Company. You agree to adhere to all of the Company policies, as set forth in the Company’s employment manual.

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