ABII » Topics » Other

This excerpt taken from the ABII DEF 14A filed Oct 30, 2009.

Other

We entered into employment agreements with David O’Toole and Edward Geehr in 2008. See the discussion of these agreements under “Agreements with Our NEOs” and “Payments upon Termination.” We also employ Edith Lee, the sister-in-law of our executive chairman, as our Senior Director of Administration. We recognized compensation expense in 2008 for her of approximately $200,000, representing her salary and bonus as well as equity compensation related to her employment with Abraxis BioScience and its predecessor, Old Abraxis. Prior to joining Old Abraxis in 2006, she was an employee of ABI where she became a participant in the American BioScience Restricted Unit Plan II as more fully described in Note 11 to our financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2008.

 

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These excerpts taken from the ABII 10-K filed Apr 30, 2009.

Other

We entered into employment agreements with David O’Toole and Edward Geehr in 2008. See the discussion of these agreements under “Agreements with Our NEOs” and “Payments upon Termination.” We also employ Edith Lee, the sister-in-law of our executive chairman, as our Senior Director of Administration. We recognized compensation expense in 2008 for her of approximately $200,000, representing her salary and bonus as well as equity compensation related to her employment with Abraxis BioScience and its predecessor, Old Abraxis. Prior to joining Old Abraxis in 2006, she was an employee of ABI where she became a participant in the American BioScience Restricted Unit Plan II as more fully described in Note 11 to our financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2008.

 

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Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Fees for professional services provided by Ernst & Young in each of the last two fiscal years were as follows:

 

     Year Ended
December 31, 2008
   Year Ended
December 31, 2007
     (in thousands)    (in thousands)

Audit fees

   $ 1,643    $ 1,595

Audit-related fees

     1,242      35

Tax fees

     256      50

All other fees

     —        —  
             

Total

   $ 3,141    $ 1,680
             

For the period following the separation, our audit committee pre-approved all audit and non-audit services provided by Ernst & Young, as described in the audit committee’s charter. Audit and non-audit services provided by Ernst & Young in 2007 were pre-approved by the audit committee of Old Abraxis prior to the separation and all such services in 2008 were pre-approved by our audit committee. Audit fees included fees associated with the integrated audit of our consolidated financial statements and our internal control over financial reporting and the statutory audits of various of our subsidiaries. Audit-related fees principally include fees associated with the audit and review of documents filed with the SEC related to the pending spin-off of Abraxis Health and fees in connection with the audit of our 401(k) plan. Tax fees include fees for tax compliance, tax advice and tax planning services.

Our audit committee has considered whether the audit-related, tax and all other services provided by Ernst & Young are compatible with maintaining that firm’s independence.

Other

We entered into
employment agreements with David O’Toole and Edward Geehr in 2008. See the discussion of these agreements under “Agreements with Our NEOs” and “Payments upon Termination.” We also employ Edith Lee, the sister-in-law of our
executive chairman, as our Senior Director of Administration. We recognized compensation expense in 2008 for her of approximately $200,000, representing her salary and bonus as well as equity compensation related to her employment with Abraxis
BioScience and its predecessor, Old Abraxis. Prior to joining Old Abraxis in 2006, she was an employee of ABI where she became a participant in the American BioScience Restricted Unit Plan II as more fully described in Note 11 to our financial
statements included in our Annual Report on Form 10-K for the year ended December 31, 2008.

 


25












Item 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Fees for
professional services provided by Ernst & Young in each of the last two fiscal years were as follows:

 
















































































   Year Ended
December 31, 2008
  Year Ended
December 31, 2007
   (in thousands)  (in thousands)

Audit fees

  $1,643  $1,595

Audit-related fees

   1,242   35

Tax fees

   256   50

All other fees

   —     —  
        

Total

  $3,141  $1,680
        

For the period following the separation, our audit committee pre-approved all audit and non-audit
services provided by Ernst & Young, as described in the audit committee’s charter. Audit and non-audit services provided by Ernst & Young in 2007 were pre-approved by the audit committee of Old Abraxis prior to the separation
and all such services in 2008 were pre-approved by our audit committee. Audit fees included fees associated with the integrated audit of our consolidated financial statements and our internal control over financial reporting and the statutory audits
of various of our subsidiaries. Audit-related fees principally include fees associated with the audit and review of documents filed with the SEC related to the pending spin-off of Abraxis Health and fees in connection with the audit of our 401(k)
plan. Tax fees include fees for tax compliance, tax advice and tax planning services.

Our audit committee has considered whether the
audit-related, tax and all other services provided by Ernst & Young are compatible with maintaining that firm’s independence.

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