April 30, 2023 Dear Mr. Crew:Lannett Co Inc • May 1st, 2023 • Pharmaceutical preparations
Reference is made to the 2023 Short-Term Incentive Plan (“Plan”) of the Company. Capitalized terms not otherwise defined in this letter agreement have the meaning set forth in that certain Restructuring Support Agreement, entered into and dated as of April 30, 2023, by and among the Debtors and the Consenting Stakeholders, including all exhibits, schedules, and other attachments thereto, as such agreement may be further amended, modified, or supplemented from time to time, solely in accordance with its terms (the “Restructuring Support Agreement”).
RESTRUCTURING SUPPORT AGREEMENTRestructuring Support Agreement • May 1st, 2023 • Lannett Co Inc • Pharmaceutical preparations • New York
Lannett Company, Inc. (“LCI”) and the other above-captioned debtors and debtors in possession (collectively, the “Debtors”) propose this joint prepackaged chapter 11 plan of reorganization (as may be altered, amended, modified, or supplemented from time to time in accordance with its terms and the Restructuring Support Agreement (as defined below), this “Plan”) for the resolution of the outstanding Claims against, and Interests in, the Debtors. Although proposed jointly for administrative purposes, the Plan constitutes a separate Plan for each Debtor for the resolution of outstanding Claims and Interests pursuant to the Bankruptcy Code. The Debtors are the proponents of the Plan within the meaning of section 1129 of the Bankruptcy Code.
