{"id":38959,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-barr-laboratories-inc-and-christine-a.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-barr-laboratories-inc-and-christine-a","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-barr-laboratories-inc-and-christine-a.html","title":{"rendered":"Employment Agreement &#8211; Barr Laboratories Inc. and Christine A. Mundkur"},"content":{"rendered":"<pre>                              EMPLOYMENT AGREEMENT\n\n      AGREEMENT dated as of the 1st day of February, 2000 between Barr\nLaboratories, Inc., a New York corporation having its principal executive\noffices at Two Quaker Road, Pomona, New York 10970 (the \"Company\"), and\nChristine A. Mundkur (the \"Employee\").\n\n                                   WITNESSETH:\n\n      WHEREAS, the Company wishes to assure itself of the services of the\nEmployee and provide an inducement for the Employee to enter into its employ;\nand\n\n      WHEREAS, the Employee is willing to serve in the employ of the Company for\nthe period and on the other terms and conditions hereafter set forth;\n\n      NOW, THEREFORE, the Company and the Employee hereby agree as follows:\n\n      1. Employment. The Company agrees to employ the Employee, and the Employee\nagrees to enter into and remain in the employ of the Company, during the term of\nthis Agreement and on the other terms and conditions hereafter set forth.\n\n      2. Term. The term of this Agreement shall commence on February 1, 2000,\n(the \"Commencement Date\") and shall terminate at the close of business on the\nthird anniversary of the Commencement Date unless sooner terminated in\naccordance with the terms of this Agreement or extended as hereinafter provided.\nThe term of this Agreement shall be extended automatically, without further\naction by the Company or the Employee, on the date which is six months before\nthe third anniversary of the Commencement Date and on the date which is six\nmonths before each subsequent anniversary of the Commencement Date (the\n\"Extension Date\") for successive periods of twelve months each, unless either\nparty shall have given written notice to the other party, in the manner set\nforth in paragraph 8(e) or (f) below, prior to the Extension Date in question,\nthat the term then in effect is not to be extended or further extended, as the\ncase may be.\n\n      3. Positions and Responsibilities; Place of Performance. During the term\nof this Agreement, the Employee agrees to serve the Company and the Company\nagrees to employ the Employee as its Vice President, Quality and Regulatory\nCounsel, reporting to the President and Chief Operating Office (\"COO\") . In that\ncapacity, she shall be responsible for managing and supervising, and shall have\nresponsibility for, the day-to-day management of the quality program of the\nCompany, subject to the authority of the COO, and the Board, and shall have all\nthe powers, authority, duties and responsibilities usually incident to the\nposition and role of Vice President, Quality and Regulatory Counsel, including\nbut not limited to responsibility for and authority with respect to and\nperforming such other reasonable duties, consistent with the position of Vice\nPresident, Quality and Regulatory Counsel, as may lawfully be assigned to her by\nthe COO, or the \n\nBoard of Directors of the Company (the \"Board\"). In connection with her\nemployment by the Company, the Employee shall be based at the principal\nexecutive offices of the Company in Blauvelt, New York. During the term of this\nAgreement, the Employee shall devote all her business time, attention, skill and\nefforts to the faithful performance of her duties hereunder.\n\n      4. Compensation. For all services rendered by the Employee in any capacity\nduring the term of this Agreement, and for her undertakings with respect to\nconfidential information set forth in paragraph 6 below, the Employee shall be\nentitled to the following:\n\n         (a) a salary, payable in installments not less frequent than monthly,\nat the annual rate of $180,000.00, with increases in such rate in accordance\nwith the Company's regular administrative practices applicable to senior\nofficers from time to time during the term of this Agreement (the annual salary\nrate as increased from time to time during the term of this Agreement being\nhereafter referred to as the \"Base Salary\"); and\n\n         (b) participation in the Company's annual executive incentive or bonus\nplan as in effect from time to time, with the opportunity to receive an award in\naccordance with the terms and conditions of such plan, for each fiscal year of\nthe Company that commences or terminates during the term of this Agreement, of\nup to 40% of the Base Salary earned during such year (or such higher percentage\nas the Board or a committee of the Board may prescribe from time to time during\nthe term of this Agreement), it being understood that any award for the fiscal\nyear of the Company in which the term of this Agreement commences or terminates\npursuant to the terms hereof shall be prorated based on the portion of such\nfiscal year that coincides with the term of this Agreement, and that any award\nfor the fiscal year of the Company in which the term of this Agreement\nterminates pursuant to the terms hereof shall be made at the same time as awards\n(if any) are made to other participants with respect to such fiscal year; and\n\n         (c) participation in the Company's stock incentive plan as from time to\n    time in effect, subject to the terms and conditions of such plan;\n\n         (d) the business and personal use of an automobile at Company expense\nincluding, without limitation, payment or reimbursement of automobile insurance\nand maintenance expenses in accordance with the Company's automobile policy\napplicable to senior officers on the date of this Agreement; and\n\n         (e) participation in all Company health, welfare, savings and other\nemployee benefit and fringe benefit plans (including vacation pay plans or\npolicies and life and disability insurance plans) in which other senior officers\nof the Company participate during the term of this Agreement, subject in all\nevents to the terms and conditions of such plans as in effect from time to time.\nNothing in this paragraph (e) \n\n                                       2\n\nshall preclude the Company from amending or terminating any such plan at any\ntime. The plans covered by this paragraph (e) shall not include the annual\nincentive or stock option plans, which are covered by paragraphs (b) and (c)\nabove.\n\n      5. Termination of Employment.\n\n         (a) Termination by the Company without Good Cause or by the Employee\nfor Good Reason. If during the term of this Agreement the Employee's employment\nwith the Company is terminated by the Company without Good Cause or is\nterminated by the Employee for Good Reason other than at the expiration of the\noriginal or any extended term of this Agreement, the Company, subject to\ncompliance by the Employee with the provisions of paragraph 6 below, relating to\nconfidential information, shall pay the Employee, as liquidated damages, and as\nadditional consideration for the Employee's undertakings under paragraph 6\nbelow, a lump sum amount of money equal to 1.5 times her Base Salary. Payment\nunder this paragraph (a) shall be in lieu of any severance pay that may be\npayable under any plan or practice of the Company.\n\n         (b) Termination by the Company for Good Cause or by the Employee\nwithout Good Reason. If, during the term of this Agreement, the Employee's\nemployment by the Company is terminated by the Company for Good Cause or by the\nEmployee without Good Reason, the Employee shall not be entitled to receive any\ncompensation under paragraph 4 above acruing after the date of such termination\nor any payment under paragraph 5(a) above. The provisions of this paragraph 5(b)\nshall be in addition to, and not in lieu of, any other rights and remedies the\nCompany may have at law or in equity in respect of such termination of\nemployment.\n\n         (c) Good Cause Defined. For purposes of this Agreement, the Company\nshall have \"Good Cause\" to terminate the Employee's employment during the term\nof this Agreement if:\n\n            (i) the Employee materially fails to substantially perform her\nduties hereunder for any reason or fails to devote substantially all her\nbusiness time to the affairs of the Company, and such failure is not\ndiscontinued within a reasonable period of time, in no event to exceed 30 days,\nafter the Employee receives written notice from the Company of such failure; or\n\n            (ii) the Employee commits a material act of dishonesty resulting or\nintended to result directly or indirectly in gain or personal enrichment at the\nexpense of the Company; or\n\n            (iii) the Employee is grossly negligent or engages in willful\nmisconduct or insubordination in the performance of her duties hereunder; or\n\n            (iv) the Employee breaches her obligations under paragraph 6 below,\nrelating to confidential information.\n\n                                       3\n\n         (d) Good Reason Defined. For purposes of this Agreement, the Employee\nshall have \"Good Reason\" to terminate her employment during the term of this\nAgreement if:\n\n            (i) the Company fails to provide compensation or benefits that the\nCompany is obligated to provide under paragraph 4 above and the failure is not\nremedied within 30 days after the Company receives written notice from the\nEmployee of such failure; or\n\n            (ii) the Company assigns the Employee duties, responsibilities or\nreporting relationships not contemplated by paragraph 3 above without her\nconsent, or limits her duties or responsibilities contemplated by paragraph 3\nabove in any respect materially detrimental to her, and in either case the\nsituation is not remedied within 30 days after the Company receives written\nnotice from the Employee of the situation;\n\n            (iii) she is removed from, or not elected or reelected to, the\noffice of Vice President, Quality or Regulatory Counsel, or\n\n            (iv) the Company requires the Employee to relocate outside the\nMetropolitan area of New York City and the Employee declines to do so.\n\n      6. Confidential Information. The Employee agrees not to disclose, either\nwhile in the Company's employ or at any time thereafter, to any person not\nemployed by the Company, or not engaged to render services to the Company,\nexcept with the prior written consent of an authorized officer of the Company or\nas necessary or appropriate for the performance of her duties hereunder, any\nmaterial confidential information obtained by her while in the employ of the\nCompany, including, without limitation, information relating to any of the\ninventions, processes, formulae, plans, devices, compilations of information,\nresearch, methods of distribution, suppliers, customers, client relationships,\nmarketing strategies or trade secrets of the Company or any subsidiary thereof;\nprovided, however, that this provision shall not preclude the Employee from use\nor disclosure of information known generally to the public or of information not\nconsidered confidential by persons engaged in the businesses conducted by the\nCompany, or otherwise disclosed by the Company to any third parties, any\nsubsidiary of the Company, or from disclosure required by law or court order.\nThe Employee also agrees that upon leaving the Company's employ she will not\ntake with her, without the prior written consent of an authorized officer of the\nCompany, and she will surrender to the Company, any record, list, drawing,\nblueprint, specification or other document or property of the Company or any\nsubsidiary thereof, together with any copy or reproduction thereof, mechanical\nor otherwise, which is of a confidential nature relating to the Company or any\nsubsidiary thereof, or without limitation, relating to its or their methods of\ndistribution, suppliers, customers, client relationships, marketing strategies\nor any description of any formulae or secret processes, or which was obtained by\nher or entrusted to her during the course of her employment with the Company.\n\n      7. Severability\n\n                                       4\n\n         (a) In the event that any provision of this Agreement shall be\ndetermined to be invalid or unenforceable for any reason, the remaining\nprovisions of this Agreement not so invalid or unenforceable shall be unaffected\nthereby and shall remain in full force and effect to the fullest extent\npermitted by law; and\n\n         (b) Any provision of the Agreement which may for any reason be invalid\nor unenforceable in any jurisdiction shall remain in effect and be enforceable\nin any jurisdiction in which such provision shall be valid and enforceable.\n\n      8. General Provisions.\n\n         (a) No right or interest to or in any payments to be made under this\nAgreement shall be subject to anticipation, alienation, sale, assignment,\nencumbrance, pledge, charge or hypothecation or to execution, attachment, levy\nor similar process, or assignment by operation of law.\n\n         (b) To the extent that the Employee acquires a right to receive\npayments from the Company under this Agreement, such right shall be no greater\nthan the right of an unsecured general creditor of the Company. All payments to\nbe made hereunder shall be paid from the general funds of the Company and no\nspecial or separate fund shall be established and no segregation of assets shall\nbe made to assure payment of any amount hereunder.\n\n         (c) This Agreement shall be governed by and construed and enforced in\naccordance with the laws of the State of New York applicable to contracts\nperformed wholly within the State of New York, without giving effect to the\nprinciples of conflicts of laws of that State.\n\n         (d) This Agreement shall be binding upon and inure to the benefit of\nthe Company, its successors and assigns, and the Employee, her heirs, legatees,\ndistributees and legal representatives.\n\n         (e) Any notice or other communication to the Company pursuant to any\nprovision of this Agreement shall be given in writing and will be deemed to have\nbeen delivered:\n\n            (i) when delivered in person to the Corporate Secretary or Chief\nExecutive Officer of the Company; or\n\n            (ii) one week after it is deposited in the United States certified\nor registered mail, postage prepaid, addressed to the Corporate Secretary of the\nCompany at Two Quaker Road, Pomona, New York 10970 or at such other address of\nwhich the Company may from time to time give the Employee written notice in\naccordance with paragraph 8(f) below.\n\n                                       5\n\n         (f) Any notice or other communication to the Employee pursuant to any\nprovision of the Agreement shall be given in writing and will be deemed to have\nbeen delivered:\n\n            (i) when delivered to the Employee in person, or\n\n            (ii) one week after it is deposited in the United States certified\nor registered mail, postage prepaid, addressed to the Employee at 150 Grant\nStreet, Ridgewood, New Jersey 07450 or at such other address of which the\nEmployee may from time to time give the Company written notice in accordance\nwith paragraph 8(e) above.\n\n         (g) No provision of this Agreement may be amended, modified or waived\nunless such amendment, modification or waiver shall be agreed to in a writing\nsigned by the Employee and an authorized officer of the Company.\n\n         (h) This instrument contains the entire agreement of the parties\nrelating to the subject matter of this Agreement and supersedes and replaces all\nprior agreements and understandings with respect to such subject matter, and the\nparties have made no agreements, representations or warranties relating to the\nsubject matter of this Agreement which are not set forth herein.\n\n      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of\nthe date first above written.\n\n                                                         BARR LABORATORIES, INC.\n\n\n                                                      By:\n                                                         -----------------------\n[SEAL]\n\nAttest:\n\n\n-----------------------\nSecretary\n\n                                                        ------------------------\n                                                        Employee\n                                       6\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6859],"corporate_contracts_industries":[9407],"corporate_contracts_types":[9539,9544],"class_list":["post-38959","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-barr-laboratories-inc","corporate_contracts_industries-drugs__pharma","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38959"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38959"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38959"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}