Critical Therapeutics, Inc. 2006 Executive Officer Salary Approval

Contract Categories: Human Resources › Compensation Agreements
Summary

Critical Therapeutics, Inc. approved new annual base salaries for its executive officers, effective January 1, 2006. The decision was made by the independent directors of the Board, following recommendations from the Compensation Committee. The agreement lists the names, titles, and 2006 base salaries for each executive officer, including the President and CEO, CFO, and other senior executives. This document formalizes the salary adjustments for the company's top management for the year 2006.

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EX-10.53 10 b58508ctexv10w53.txt EX-10.53 CRITICAL THERAPEUTICS, INC. 2006 SALARIES FOR EXECUTIVE OFFICERS EXHIBIT 10.53 CRITICAL THERAPEUTICS, INC. 2006 SALARIES FOR EXECUTIVE OFFICERS On November 30, 2005, based on the recommendation of the Compensation Committee of the Board of Directors, our independent directors of the Board approved market-adjustment and merit increases in the annual base salary of our executive officers effective January 1, 2006. The 2006 annual base salary for each of our executive officers will be as follows:
Executive Officer Title 2006 Annual Base Salary - ----------------- ----- ----------------------- Paul D. Rubin, M.D. President and Chief Executive Officer $ 367,000 Frederick Finnegan Senior Vice President of Sales and Marketing $ 252,600 Walter Newman, Ph.D. Chief Scientific Officer and Senior Vice President of $ 269,500 Research and Development Trevor Phillips, Ph.D. Chief Operating Officer and Senior Vice President of $ 269,000 Operations Frank E. Thomas Chief Financial Officer, Senior Vice President of $ 252,600 Finance and Treasurer Scott B. Townsend, Esq. Vice President of Legal Affairs and Secretary $ 220,000