RAD001 Plus Octreotide Depot in Metastatic or Unresectable Low Grade Neuroendocrine Carcinoma

Inclusion Criteria: * Patients with histologic proof of low grade neuroendocrine carcinoma will be eligible. Both carcinoid (any site\[atypical/intermediate grade carcinoid is allowed\]) and islet cell (pancreatic endocrine tumor) will be eligible. * Patients with neuroendocrine tumors associated with MEN1 syndrome will be eligible. * Patients must have either metastatic or unresectable local-regional cancer. * Patients must have measurable disease, as defined by RECIST (Response Evaluation Criteria In Solid Tumors). * Prior and concurrent octreotide (Sandostatin and Sandostatin LAR) is allowed. * Prior radiation therapy is permitted. A recovery period of at least 4 weeks after completion of radiotherapy is required prior to enrollment. * Patients may have received 0, 1, or 2 prior cytotoxic chemotherapy. * Chemotherapy used as a radiosensitizer will be considered one prior chemotherapy regimen. * Patients may have received prior interferon (not counted toward prior cytotoxic chemotherapy). * Patients may have received prior therapy targeting c-kit, abl, PDGFR (Platelet Derived Growth Factor Receptor), VEGF (Vascular endothelial growth factor), or EGFR \[epidermal growth factor receptor\] (not counted toward prior cytotoxic chemotherapy). * Patients may have had prior hepatic artery embolization. There must be residual measurable disease. Chemoembolization will be considered as one prior chemotherapy regimen. * Patients must have a performance status of 0, 1, or 2 (Zubrod sc…