Critical Therapeutics, Inc. 2007 Executive Officer Salary Approval

Contract Categories: Human Resources › Compensation Agreements
Summary

Critical Therapeutics, Inc. set the 2007 annual base salaries for its executive officers, effective January 1, 2007, following recommendations from the Compensation Committee and approval by independent directors. The agreement lists the names, positions, and approved salaries for each executive officer, including the President and CEO, COO, Chief Medical Officer, General Counsel, and Chief Accounting Officer. This document formalizes the compensation terms for these key executives for the year 2007.

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EX-10.44 8 b63627ctexv10w44.txt EX-10.44 2007 SALARIES FOR EXECUTIVE OFFICERS Exhibit 10.44 CRITICAL THERAPEUTICS, INC. 2007 SALARIES FOR EXECUTIVE OFFICERS On December 19, 2006, based on the recommendation of the Compensation Committee, the independent directors of the Board of Directors approved market-adjustments and merit increases in the 2007 annual base salaries for executive officers effective January 1, 2007. The 2007 annual base salary for each executive officer is as follows:
2007 ANNUAL BASE NAME POSITION SALARY - ------------------------- ------------------------------------------------------------- ---------------- Frank E. Thomas President and Chief Executive Officer $345,000 Trevor Phillips, Ph.D. Senior Vice President of Operations and Chief Operating Officer $300,000 Dana Hilt, M.D. Senior Vice President of Clinical Development and Chief Medical Officer $290,000 Scott B. Townsend, Esq. Vice President of Legal Affairs, General Counsel and Secretary $245,000 Jeffrey E. Young Vice President of Finance, Chief Accounting Officer and Treasurer $195,000