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<SEC-DOCUMENT>0001157523-09-004223.txt : 20090529
<SEC-HEADER>0001157523-09-004223.hdr.sgml : 20090529
<ACCEPTANCE-DATETIME>20090529172854
ACCESSION NUMBER:		0001157523-09-004223
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20090526
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090529
DATE AS OF CHANGE:		20090529

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ANIKA THERAPEUTICS INC
		CENTRAL INDEX KEY:			0000898437
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				043145961
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14027
		FILM NUMBER:		09862899

	BUSINESS ADDRESS:	
		STREET 1:		236 WEST CUMMINGS PARK
		CITY:			WOBURN
		STATE:			MA
		ZIP:			01801
		BUSINESS PHONE:		6179326616

	MAIL ADDRESS:	
		STREET 1:		236 WEST CUMMINGS PARK
		CITY:			WOBURN
		STATE:			MA
		ZIP:			01801

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANIKA RESEARCH INC
		DATE OF NAME CHANGE:	19930309
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a5976241.htm
<DESCRIPTION>ANIKA THERAPEUTICS, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2009 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <p style="text-align: center">
      <br>
      <br>
      <font style="font-family: Times New Roman; font-size: 14pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 14pt"><br style="font-size: 14pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 14pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-size: 10pt">WASHINGTON,
      D.C. 20549</font>
    </p>
    <hr style="text-align: center; color: #000000; width: 100%; height: 1.0 pt">


    <p style="text-align: center">
      <br>
      <br>
      <font style="font-family: Times New Roman; font-size: 14pt"><b>FORM 8-K</b></font><br><br><br><font style="font-size: 12pt"><b>CURRENT
      REPORT</b></font><b><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">PURSUANT
      TO SECTION 13 OR 15(d) OF THE</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">SECURITIES
      EXCHANGE ACT OF 1934</font></b>
    </p>
    <hr style="text-align: center; color: #000000; width: 100%; height: 1.0 pt">


    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 11pt">Date of
      Report (Date of earliest event reported): </font><font style="font-family: Times New Roman; font-size: 11pt"><b>May
      26, 2009</b></font><br><br><br><font style="font-size: 14pt"><b>Anika
      Therapeutics, Inc.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      Name of Registrant as Specified in Its Charter)</font><br><br>
    </p>
    <div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Massachusetts</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; width: 34%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>000-21326</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; padding-right: 0.0px; width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>04-3145961</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or Other Jurisdiction of<br>Incorporation)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 34%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="top" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="width: 70%; text-align: center; padding-left: 0.0px">
          <b>32 Wiggins Avenue, Bedford, Massachusetts</b>
        </td>
        <td valign="bottom" style="width: 10%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; width: 20%; text-align: center; padding-left: 0.0px">
          <b>01730</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 70%; text-align: center; padding-left: 0.0px">
          (Address of Principal Executive Offices)
        </td>
        <td valign="bottom" style="width: 10%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 20%; text-align: center; padding-left: 0.0px">
          (Zip Code)
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <br>
      <font style="font-size: 10pt">Registrant&#8217;s Telephone Number, Including
      Area Code: </font><font style="font-size: 10pt"><b>(</b></font><b><font style="font-size: 10pt">781)-457-9000</font></b><br><br><br><b>No
      Change Since Last Report</b><br>(Former name or former address, if
      changed since last report)<br><br>
    </p>
    <hr style="color: #000000; width: 100%; text-align: center; height: 1.0 pt">


    <p style="text-align: center">
      <br>
      <br>

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br><br><br>
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 1.01:&#160; Entry into a Material Definitive Agreement.</b>
    </p>
    <p>

    </p>
    <p>
      On May 26, 2009, Anika Therapeutics, Inc. (the &#8220;Registrant&#8221;) issued a
      press release, which is furnished hereto as Exhibit 99.1 and
      incorporated by reference as if fully set forth herein, announcing that,
      among other things, it has hired, effective May 26, 2009, Frank J.
      Luppino as Chief Operating Officer.&#160; In accordance with the terms of his
      employment arrangement with the Company, which is evidenced by an offer
      letter agreement, Mr. Luppino has entered into an at-will employment
      relationship with Anika providing for annual base salary of
      $285,000.&#160;Mr. Luppino was also awarded a grant of 100,000 stock
      appreciation rights for Anika Common Stock vesting in equal installments
      over four years.&#160;&#160; Mr. Luppino is also entitled to bonus and benefits.&#160;
      If Mr. Luppino&#8217;s employment is terminated without cause, the offer
      letter agreement entitles Mr. Luppino to severance in the amount of
      twelve months base salary and twelve months medical benefits.&#160;
    </p>
    <p>

    </p>
    <p>
      The offer letter agreement is attached hereto as Exhibit 10.1 to this
      report on Form 8-K and is incorporated herein by reference.&#160; This
      description summarizes certain provisions of the offer letter agreement,
      and is qualified in its entirety by reference to the terms and
      conditions in the attached document.
    </p>
    <p>

    </p>
    <p>
      <b>Item 5.02 Departure of Directors or Certain Officers; Election of
      Directors; Appointment of Certain Officers; Compensatory Arrangements of
      Certain Officers.</b>
    </p>
    <p>

    </p>
    <p>
      Frank J. Luppino, 40<b>, </b>was appointed Chief Operating Officer of
      the Registrant effective May 26, 2009.&#160;&#160;Most recently, Mr. Luppino was
      Vice President of Operations at Bionostics, a privately held developer,
      manufacturer and distributor of turnkey products for critical healthcare
      OEMs.&#160;&#160;Prior to his position at Bionostics, Mr. Luppino served as Vice
      President of Operations at Anika Therapeutics from June 2003 until his
      departure in September 2007.&#160;&#160;He also had held the position of Executive
      Director of Operations during his tenure at Anika Therapeutics.&#160;&#160;Prior
      to joining Anika in 1999, Mr. Luppino was regional manager for AAC
      Consulting Group, a firm serving the pharmaceutical and medical device
      industries.&#160;&#160;From 1992 to 1998, he was regional manager for Raytheon
      Engineers and Constructors.&#160;&#160;
    </p>
    <p>

    </p>
    <p>
      <b>Item 9.01:&#160; Financial Statements and Exhibits.</b>
    </p>
    <p>

    </p>
    <p>
      (c) Exhibits
    </p>
    <p>

    </p>
    <div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="width: 10%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          <b>Exhibit No.</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; width: 5%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="width: 85%; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px">
          <b>Description</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 10%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="width: 5%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 85%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; width: 10%; text-align: left; padding-left: 0.0px">
          10.1
        </td>
        <td valign="bottom" style="width: 5%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 85%; text-align: left; padding-left: 0.0px">
          Letter Agreement by and between the Company and Frank J. Luppino
        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; width: 10%; text-align: left; padding-left: 0.0px">
          99.1
        </td>
        <td valign="bottom" style="width: 5%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 85%; text-align: left; padding-left: 0.0px">
          Press Release issued by Anika Therapeutics, Inc. on May 26, 2009
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURE</b></font><br>
    </p>
    <p>
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned, hereunto duly authorized.
    </p>
    <p>

    </p>
    <div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 5%">
          &#160;
        </td>
        <td style="width: 43%">

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            ANIKA THERAPEUTICS, INC.
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 43%">

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="2" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            May 29, 2009
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; width: 7%; text-align: left; padding-left: 0.0px">
          By:
        </td>
        <td valign="top" style="width: 30%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Kevin W. Quinlan
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 43%">

        </td>
        <td valign="top" style="width: 7%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 30%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Kevin W. Quinlan
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 43%">

        </td>
        <td valign="top" style="width: 7%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 30%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Chief Financial Officer</i>
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 43%">

        </td>
        <td style="width: 7%">

        </td>
        <td valign="top" style="width: 30%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 15%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <b>Exhibit Index</b>
    </p>
    <p>

    </p>
    <div style="text-align:left">
    <table style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td valign="top" style="width: 10%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px">
          <b>Exhibit No.</b>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; width: 5%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="top" style="width: 85%; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px">
          <b>Description</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 10%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="width: 5%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 85%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; width: 10%; text-align: left; padding-left: 0.0px">
          10.1
        </td>
        <td valign="bottom" style="width: 5%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 85%; text-align: left; padding-left: 0.0px">
          Letter Agreement by and between the Company and Frank J. Luppino
        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; padding-right: 0.0px; width: 10%; text-align: left; padding-left: 0.0px">
          99.1
        </td>
        <td valign="bottom" style="width: 5%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 85%; text-align: left; padding-left: 0.0px">
          Press Release issued by Anika Therapeutics, Inc. on May 26, 2009
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a5976241ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html>
  <head>
    <title></title>
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<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p>
      <b>Exhibit 10.1</b><br><br>April 27, 2009<br><br>Frank Luppino<br>15
      Walnut Court<br>Needham, MA 02492<br><br>Dear Frank:<br><br>I am pleased
      to present our offer to you to join Anika Therapeutics, Inc. (&#8220;Anika&#8221; or
      the &#8220;Company&#8221;) as an employee. The terms of our offer are outlined below:
    </p>
    <p>

    </p>
    <p style="white-space: nowrap">
      <u>Position</u>:&#160;&#160;Chief Operating Officer
    </p>
    <p>

    </p>
    <p>
      <u>Description of Duties</u>:&#160;&#160;You will serve as an officer of the
      company and a key member of the corporate leadership team. You will be
      responsible for translating global business priorities into operational
      tactics. You will be directly responsible for the following functional
      areas: Regulatory and Clinical Affairs, Quality Systems, plus
      Operations. You will participate with the CEO and other top executives
      in formulating current and long-range strategies, objectives and global
      policies and translating these into tactics for the business. You also
      shall be responsible for performing any duties assigned to you by or
      under the authority of the Company that are appropriate for an
      individual of your experience.&#160;&#160;
    </p>
    <p>

    </p>
    <p style="white-space: nowrap">
      <u>Reporting To</u>:&#160;&#160;President and Chief Executive Officer
    </p>
    <p>

    </p>
    <p style="white-space: nowrap">
      <u>Employment Date</u>:&#160;&#160;Your anticipated start date is as soon as
      possible.
    </p>
    <p>

    </p>
    <p>
      <u>Rate of Pay</u>:&#160;&#160;$10,961.54 per bi-weekly payroll (annualized
      $285,000.00), subject to applicable deductions and withholdings.
    </p>
    <p>

    </p>
    <p>
      <u>Bonus Eligibility:</u>&#160;&#160;You will be eligible to receive a
      discretionary annual target bonus of up to 35% of your annualized base
      salary subject to determination by the Board of Directors and based on
      the Company&#8217;s performance and your personal performance against key
      objectives.&#160;&#160;To be eligible to receive a bonus, you must be a current
      employee at the time that the bonus is distributed.
    </p>
    <p>

    </p>
    <p>
      <u>Stock Options</u>:&#160;&#160;Shortly after you commence employment and subject
      to the approval by the Compensation Committee of the Board of Directors,
      you will be granted a stock appreciation right under the 2003 Plan. The
      stock appreciation right covers 100,000 shares of common stock of Anika
      Therapeutics, and will be settled only in shares of Anika Therapeutics,
      Inc. at an exercise price equal to the stock&#8217;s closing price on the date
      of the grant.&#160;&#160;
    </p>
    <p>

    </p>
    <p>
      <u>Benefits</u>:&#160;&#160;You will be eligible to participate in the Anika
      employee benefit programs upon commencement of employment. This program
      currently covers comprehensive medical and dental benefits, life and
      disability insurance, supplemental disability insurance, and a Section
      125 Plan. You will be eligible to participate in our 401(k) Savings and
      Investment Plan at the first enrollment date following your date of
      hire. Under the current terms, the 401(k) plan entitles you to
      contribute up to the maximum limit established by the IRS. The Company
      will match 100% of your contribution up to 5% of your salary or to the
      limit specified by the Internal Revenue Code. Your participation in the
      benefit plans will be governed by and subject to the plan terms as
      described in the official documents and Summary Plan Descriptions.
    </p>
    <p>

    </p>
    <p>
      <u>Termination of Employment</u>:
    </p>
    <p>

    </p>
    <p>
      1)&#160;&#160;Resignation or termination for cause:&#160;&#160;If you voluntarily resign or
      are terminated for cause at any time (with &#8220;cause&#8221; having the definition
      applied under Massachusetts common law), all compensation and benefits
      payable to you under this Agreement shall terminate on the date of
      termination of your employment.&#160;&#160;
    </p>
    <p>

    </p>
    <p>
      2)&#160;&#160;Termination without cause:&#160;&#160;If Anika terminates your employment
      without cause, Anika will continue your base salary at its then current
      rate for twelve months (the &#8220;Severance Pay Period&#8221;), provided that you
      first execute a valid release of claims in a form satisfactory to the
      Company and you agree to comply with any reasonable requests by Anika
      for assistance during the Severance Pay Period.&#160;&#160;In addition, during the
      Severance Pay Period, the Company also will pay the Company&#8217;s share of
      the premiums for continuation of medical and dental benefits under COBRA
      for you and your family, provided that you are eligible for such
      benefits under COBRA, subject to your payment of the active employee
      share of premium payments for such coverage.&#160;&#160;
    </p>
    <p>

    </p>
    <div style="text-indent: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <u>Change in Control and Severance Agreement</u>: Subject to the
      approval of the Compensation Committee of the Board of Directors, an
      Agreement between you and Anika Therapeutics, Inc. shall be executed
      providing terms pertaining to a Change in Control. The purpose of this
      Agreement is to reinforce and encourage your continued attention and
      dedication to your assigned duties without distraction in the face of
      potentially disturbing circumstances arising from the possibility of a
      Change in Control.
    </p>
    <p>

    </p>
    <p>
      <u>Vacation</u>:&#160;&#160;You will accrue four weeks of vacation during your
      first year of employment, which are subject to the terms of accrual and
      use set forth in Anika&#8217;s policies.
    </p>
    <p>

    </p>
    <p>
      <u>Confidentiality and Non-Competition Agreement</u><b>:&#160;&#160;</b>You
      understand that as a condition of your employment, you will be required
      to execute Anika&#8217;s Confidentiality and Non-Competition Agreement, a copy
      of which is enclosed.&#160;&#160;You further understand that the Anika
      Confidentiality and Non-Competition Agreement contains conditions that
      will survive the termination of your employment, regardless of the
      reason for that termination.&#160;&#160;
    </p>
    <p>

    </p>
    <p>
      <u>Arbitration</u>:&#160;&#160;In the event of any controversy or claim arising
      out of or relating to this letter agreement or otherwise arising out of
      your employment or the termination of that employment (including,
      without limitation, any claims of unlawful employment discrimination
      whether based on age or otherwise), that controversy or claim shall, to
      the fullest extent permitted by law, be settled by arbitration under the
      auspices of the American Arbitration Association (&#8220;AAA&#8221;) in Boston,
      Massachusetts in accordance with the Employment Dispute Resolution Rules
      of the AAA, including, but not limited to, the rules and procedures
      applicable to the selection of arbitrators (or alternatively, in any
      other forum or in any other form agreed upon by the parties). In the
      event that any person or entity other than you or Anika may be a party
      with regard to any such controversy or claim, such controversy or claim
      shall be submitted to arbitration subject to such other person or
      entity&#8217;s agreement. Judgment upon the award rendered by the arbitrator
      may be entered in any court having jurisdiction thereof. This provision
      shall be specifically enforceable. Notwithstanding the foregoing, this
      provision shall not preclude either party from pursuing a court action
      for the sole purpose of obtaining a temporary restraining order or a
      preliminary injunction in circumstances in which such relief is
      appropriate; provided that any other relief shall be pursued through an
      arbitration proceeding pursuant to this provision.
    </p>
    <p>

    </p>
    <p>
      <u>Background Check</u>:&#160;&#160;You understand and agree that all employees
      are subject to a background check including verification of
      education.&#160;&#160;I enclose a waiver in this regard for your signature which
      is necessary for us to commence this check prior to your start date.
      This offer is conditioned on this background check being satisfactory to
      the Company.
    </p>
    <p>

    </p>
    <p>
      <u>At-Will Employment</u>:&#160;&#160;You, like everyone else at Anika, will be an
      at-will employee. The terms of your employment will be interpreted in
      accordance with and governed by the laws of the Commonwealth of
      Massachusetts.
    </p>
    <p>

    </p>
    <p>
      <u>Representation Regarding Other Agreements</u>:&#160;&#160;Finally, this offer
      is conditioned on your representation that you are not subject to any
      confidentiality or non-competition agreement or any other similar type
      of restriction that would affect your ability to devote full time and
      attention to your work at Anika Therapeutics, Inc. Upon commencement of
      your employment, you will be required to provide evidence that you are a
      U.S. citizen or national, a lawful permanent resident, or an alien
      authorized to work in the U.S.
    </p>
    <p>

    </p>
    <p>
      If the terms of this offer are acceptable, please indicate your
      acceptance by signing both copies of this letter, the <i>Anika
      Confidentiality and Non-Competition Agreement </i>and the background
      check waiver and return one copy of each to me. Upon commencement of
      your employment, you will be required to provide evidence that you are a
      U.S. citizen or national, a lawful permanent resident, or an alien
      authorized to work in the U.S. I am enthusiastic about Anika&#8217;s future
      prospects and look forward to your leadership and contribution to the
      Anika team.
    </p>
    <p>

    </p>
    <p>
      This offer is valid until April 30, 2009.
    </p>
    <p>

    </p>
    <p>
      Sincerely,<br><br>/s/ Charles H. Sherwood<br><br>Charles H. Sherwood,
      Ph.D.<br>President and Chief Executive Officer<br><br><br><br>Agreed and
      accepted:<br><br><br><br><u>/s/ Frank Luppino</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>4/28/09</u><br>Frank
      Luppino&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Date<br><br>Enclosures
    </p>
    <p style="white-space: nowrap">

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a5976241ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: left">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Anika
      Therapeutics Appoints Frank J. Luppino as Chief Operating Officer</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Seasoned
      Operations Executive Returns to Company</b></font></i>
    </p>
    <p>
      BEDFORD, Mass.--(BUSINESS WIRE)--May 26, 2009--Anika Therapeutics, Inc.
      (NASDAQ:ANIK) today announced the appointment of Frank J. Luppino as
      chief operating officer. Luppino was most recently vice president of
      operations at Bionostics, a privately held developer, manufacturer and
      distributor of turnkey products for critical healthcare OEMs. As an
      integral member of the management team implementing Anika&#8217;s strategic
      growth plan, Luppino will oversee the operations, quality systems,
      regulatory and clinical affairs areas. Luppino previously served for
      eight years at Anika, culminating in the position of vice president of
      operations.
    </p>
    <p>
      &#8220;We expect Frank to be instrumental in the next phase of Anika&#8217;s growth
      as we broaden our global presence through an expanding suite of
      innovative products and an increasing number of distributors,&#8221; said
      Charles H. Sherwood, Ph.D., president and chief executive officer.
      &#8220;Frank is an ideal complement to our management team, given his
      knowledge of Anika, proven expertise in business planning, sound
      analytical thinking and high level of energy and enthusiasm. During his
      tenure with Anika, Frank made significant contributions in developing
      our processes and enhancing our customer and supplier relationships.&#8221;
    </p>
    <p>
      Prior to his position at Bionostics, Luppino served as vice president of
      operations at Anika Therapeutics from June 2003 until his departure in
      September 2007. He also had held the position of executive director of
      operations. Prior to joining Anika in 1999, Luppino was regional manager
      for AAC Consulting Group, a firm serving the pharmaceutical and medical
      device industries. From 1992 to 1998, he was regional manager for
      Raytheon Engineers and Constructors. Earlier in his career, Luppino was
      a project engineer with Black and Veatch Corporation, an architectural
      and engineering design firm. Luppino holds a bachelor&#8217;s degree in
      chemical engineering from Lehigh University.
    </p>
    <p>
      <b>About Anika Therapeutics, Inc.</b>
    </p>
    <p>
      Headquartered in Bedford, Mass., Anika Therapeutics, Inc. develops,
      manufactures and commercializes therapeutic products for tissue
      protection, healing and repair. These products are based on hyaluronic
      acid (HA), a naturally occurring, biocompatible polymer found throughout
      the body. Anika&#8217;s products include ORTHOVISC<sup>&#174;</sup>, a
      treatment for osteoarthritis of the knee available internationally and
      marketed in the U.S. by DePuy Mitek; HYVISC<sup>&#174;</sup>, a
      treatment for equine osteoarthritis marketed in the U.S. by Boehringer
      Ingelheim Vetmedica, Inc.; a family of aesthetic dermatology products
      for facial wrinkles, scar remediation and lip augmentation; AMVISC<sup>&#174;</sup>,
      AMVISC<sup>&#174;</sup> Plus, STAARVISC&#8482;-II and Shellgel&#8482; injectable
      viscoelastic HA products for ophthalmic surgery; INCERT<sup>&#174;</sup>,
      an HA-based anti-adhesive for surgical applications; ORTHOVISC<sup>&#174;</sup>
      <i>mini</i> a treatment for osteoarthritis targeting small joints and
      available in Europe; MONOVISC&#8482; a single-injection osteoarthritis product
      based on Anika&#8217;s proprietary cross-linking technology and also available
      in Europe and Turkey; and next generation products for joint health and
      aesthetic dermatology based on the Company&#8217;s proprietary, chemically
      modified HA.
    </p>
    <p>
      <i>The statements made in this press release which are not statements of
      historical fact are forward-looking statements within the meaning of
      Section 27A of the Securities Act of 1933 and Section 21E of the
      Securities Exchange Act of 1934, including, without limitation,
      statements that may be identified by words such as &quot;expectations,&quot;
      &quot;remains,&quot; &quot;focus,&quot; &quot;expected,&quot; &quot;prospective,&quot; &quot;expanding,&quot; &quot;building,&quot;
      &quot;continue,&quot; &quot;progress,&quot; &#8220;plan,&#8221; &quot;efforts,&quot; &quot;hope,&quot; &quot;believe,&quot;
      &quot;objectives,&quot; &quot;opportunities,&quot; &quot;will,&quot; &quot;seek,&quot; &#8220;expect&#8221; and other
      expressions which are predictions of or indicate future events and
      trends and which do not constitute historical matters identify
      forward-looking statements.</i> <i>These statements include, but are not
      limited to, those relating to Anika&#8217;s broadening of its global presence
      through an expanding suite of innovative products and an increasing
      number of distributors, and the expected success and contributions of
      Frank Luppino.</i> <i>The Company's actual results could differ
      materially from any anticipated future results, performance or
      achievements described in the forward-looking statements as a result of
      a number of factors including: (i) the company's ability to successfully
      commence and/or complete clinical trials of its products on a timely
      basis or at all, obtain clinical data to support a pre-market approval
      application and/or FDA approval, and/or receive FDA or other regulatory
      approvals of its products, or that such approvals will not be obtained
      in a timely manner or without the need for additional clinical trials;
      (ii) the company's research and product development efforts and their
      relative success, including whether the company has any meaningful sales
      of any new products resulting from such efforts; (iii) the cost
      effectiveness and efficiency of our manufacturing operations and
      production planning; (iv) the strength of the economies in which the
      company operates or will be operating, as well as the political
      stability of any of those geographic areas</i> <i>(v) future
      determinations by the company to allocate resources to products and in
      directions not presently contemplated.</i> <i>Certain other factors that
      might cause the company's actual results to differ materially from those
      in the forward-looking statements include those set forth under the
      headings &quot;Business,&quot; &quot;Risk Factors&quot; and &quot;Management's Discussion and
      Analysis of Financial Condition and Results of Operations&quot; in the
      company's Annual Report on Form 10-K for the year ended December 31,
      2008, and Form 10-Q for the quarter ended March 31, 2009, as well as
      those described in the company's other press releases and SEC filings.</i>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      CONTACT:<br>Anika Therapeutics, Inc.<br>Charles H. Sherwood, Ph.D.,
      781-457-9000<br>CEO<br>or<br>Kevin W. Quinlan, 781-457-9000<br>CFO
    </p>
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