First Horizon Pharmaceutical Corporation 2006 Director Compensation Summary
This document outlines the compensation structure for directors of First Horizon Pharmaceutical Corporation for 2006. It details annual retainers for board and committee roles, meeting fees for in-person and telephone participation, and additional compensation for audit committee accounting experts. Non-employee, non-affiliated directors also received stock options and restricted shares in 2005. The agreement sets clear payment amounts and eligibility criteria for director compensation.
Exhibit 10.27
FIRST HORIZON PHARMACEUTICAL CORPORATION
DIRECTORS’ COMPENSATION FOR 2006 SUMMARY SHEET
| ANNUAL BOARD RETAINER |
| 2005 |
| $ | 30,000 |
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| 2006 |
| $ | 30,000 |
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| ANNUAL BOARD CHAIRMANSHIP RETAINER |
| 2005 |
| $ | 10,000 |
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| 2006 |
| $ | 10,000 |
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| ANNUAL COMMITTEE CHAIRMANSHIP RETAINER: |
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| Nominating/Corporate Governance Committee |
| 2005 |
| $ | 5,000 |
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| 2006 |
| $ | 5,000 |
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| Audit Committee |
| 2005 |
| $ | 5,000 |
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| 2006 |
| $ | 5,000 |
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| Compensation Committee |
| 2005 |
| $ | 5,000 |
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| 2006 |
| $ | 5,000 |
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| Mergers and Acquisition Committee |
| 2005 |
| $ | 5,000 |
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| 2006 |
| $ | 5,000 |
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| BOARD AND COMMITTEE MEETING FEE (In Person Meeting) |
| 2005 |
| $ | 1,500 |
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| 2006 |
| $ | 1,500 |
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| BOARD AND COMMITTEE MEETING FEE (Telephone Meeting) |
| 2005 |
| $ | 750 |
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| 2006 |
| $ | 750 |
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| AUDIT COMMITTEE ACCOUNTING EXPERT RETAINER |
| 2005 |
| $ | — |
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| 2006 |
| $ | 5,000 |
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In 2005, in addition to the base compensation, each director who was not an employee and not affiliated with a greater than 10% stockholder was granted 5,000 stock options and 2,500 restricted shares
