This excerpt taken from the ALKS DEF 14A filed Jul 27, 2006.
Executive Officer Loans
In the calendar year 2001, Alkermes made two loans to David A. Broecker in connection with his employment as its new Chief Operating Officer. The first loan, made in February 2001 in the principal amount of $300,000, was amended to extend its maturity date to May 31, 2003 or, if earlier, upon termination of Mr. Broeckers employment. The first loan did not bear interest and was paid in full in May 2003. The second loan, made in June 2001 in the principal amount of $300,000, bears interest at the prime rate. Twenty percent of the principal of and accrued interest on the second loan was forgiven annually on Mr. Broeckers employment anniversary, or in full upon a change-in-control of Alkermes, so long as he continued to be employed by Alkermes. Any balance of the second loan remaining upon the termination of Mr. Broeckers employment was to be paid in full. The second loan terminated in February 2006 and no balance remained outstanding as of March 31, 2006.