PAR PHARMACEUTICAL COMPANIES, INC.
TERMS OF RESTRICTED SHARES AWARD
This document sets forth the terms of the award of Restricted Shares (as defined in Section 1.1 below)
granted by PAR PHARMACEUTICAL COMPANIES, INC. (the “Company”) pursuant to a Certificate of
Restricted Shares (the “Certificate”) displayed at the website of Smith Barney Benefits Access®. The Certificate,
which specifies the person to whom the Restricted Shares have been awarded (the “Participant”), other specific
details of the award, and the electronic acceptance of the Certificate at the website of Smith Barney, are
incorporated herein by reference.
WHEREAS, the Board of Directors (the “Board”) of the Company has authorized and approved the Par
Pharmaceutical Companies, Inc. 2004 Performance Equity Plan (the “Plan”), which has been approved by the
stockholders of the Company;
WHEREAS, the Plan, in part, provides for the grant of Restricted Shares to certain employees of the
Company and any Subsidiary of the Company;
WHEREAS, pursuant to the Plan, the Committee has approved an award to the Participant of Restricted
Shares, designated in the Certificate, on the terms and conditions set forth in the Plan and in these Terms.
Capitalized terms used but not defined in these Terms shall have the meanings set forth in the Plan.
NOW, THEREFORE, the parties, intending to be legally bound, agree as follows:
Grant of Restricted Shares .
Subject to the terms and conditions hereinafter set forth and set forth in the Plan, the
Company grants as of the date of grant specified on the Certificate (the “Date of Grant”) to the Participant shares
of common stock, par value $.01 per share (“Common Stock”), specified on the Certificate, and subject to the
restrictions set forth in Section 1.2 of these Terms, the terms and conditions of the Plan and the other terms and
conditions contained in these Terms (the “Restricted Shares”). If and when the restrictions set forth in Sect