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TMCNet:  IMPAX LABORATORIES INC FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits

[April 02, 2014]

IMPAX LABORATORIES INC FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits

(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 1, 2014, Impax Laboratories, Inc. entered into an amendment to the employment agreement with each of Bryan Reasons, Michael Nestor, Carole Ben-Maimon, M.D., and Mark Schlossberg (collectively, the "Amendments"). The Amendments provide that a written notice of non-renewal of the term of such employment agreement will constitute good reason for such executive to resign and be eligible to receive severance benefits under the employment agreement.


The foregoing is a summary description of the terms and conditions of the Amendments and is qualified in its entirety by the text of the Amendments, which are attached hereto as Exhibits10.1, 10.2, 10.3 and 10.4 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits (d) Exhibits.

The following exhibits are filed herewith.

Exhibit No. Description Amendment dated as of April 1, 2014 to the Employment Agreement 10.1 dated as of December 12, 2012 by and between Impax Laboratories, Inc. and Bryan Reasons.

Amendment dated as of April 1, 2014 to the Employment Agreement 10.2 dated as of January 1, 2010 by and between Impax Laboratories, Inc.

and Michael Nestor.

Amendment dated as of April 1, 2014 to the Employment Agreement 10.3 dated as of November 7, 2011 by and between Impax Laboratories, Inc. and Carole Ben-Maimon, M.D.

Amendment dated as of April 1, 2014 to the Employment Agreement 10.4 dated as of May 2, 2011 by and between Impax Laboratories, Inc. and Mark Schlossberg.

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