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RELEASE OF CLAIMS

Release Agreement

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This Release Agreement involves

BARR PHARMACEUTICALS INC

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Title: RELEASE OF CLAIMS
Date: 10/10/2006
Industry: BIOTRX    

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EX-10.3
 

Release of Claims

     In consideration of the $1.5 million Severance Benefit to be paid to me pursuant to section 5 of the employment agreement between me and Barr Pharmaceuticals, Inc., Barr Laboratories, Inc. and Duramed Research Inc. dated as of August 19, 2005 as amended by a letter agreement dated August 28, 2006 (the “Employment Agreement”), I hereby agree as follows:

          1. I release and forever discharge Barr Pharmaceuticals, Inc. and its past, present and future subsidiaries and affiliates (collectively, the “Company”), and any and all of their officers, directors, agents and employees (collectively with the Company, the “Releases”), from any and all claims and/or causes of action that I had, have or may have relating to my employment with the Company and/or the termination of that employment, whether presently known or unknown, including, but not limited to, any claim under Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991, as amended; 42 U.S.C. § 1981; the Age Discrimination in Employment Act of 1967, as amended (“ADEA”); the Older Workers Benefit Protection Act, 29 U.S.C. §626, as amended (“OWBPA”); the Americans With Disabilities Act of 1990, as amended; the Family Medical Leave Act of 1993, as amended; the Fair Labor Standards Act, as amended; the Occupational Safety and Health Act of 1970, as amended; the Civil Rights Act of 1966, as amended; the Employee Retirement Income Security Act of 1974, as amended; the Worker Adjustment and Retraining Notification Act, 29 U.S.C. Sections 2101-2109 (“WARN”); New Jersey State Human Rights Law; New Jersey State Labor Law; Pennsylvania State Wage and Hour Law; the Pennsylvania Law Against Discrimination; workers compensation provisions; and any and all claims of wrongful discharge, breach of contract, breach of covenant of good faith and fair dealing, violation of public policy, retaliatory termination, fraud, defamation, physical injury, emotional distress, or any other claims arising out of or relating to any other aspect of federal or state statutory or common law, including claims for attorneys’ fees and costs incurred in litigation. The foregoing release excludes—

               (a) any claims for any amounts to which I am entitled pursuant to the terms of any compensation or benefit plan of the Company or by law on account of my participation in any such plan prior to September 1, 2006, including (i) the portion of my Base Salary accrued through August 31, 2006, (ii) stock options and stock appreciation rights granted to me before that date, (iii) amounts payable to me under the Company’s qualified 401(k) plan and its excess 401(k) plan, and (iv) medical and dental insurance benefits, including (if applicable) flexible spending account benefits,

               (b) any claims for indemnification or advancement of expenses pursuant to section 145 of the Delaware General Corporation L

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