EXHIBIT 10.52
CRITICAL THERAPEUTICS, INC.
2005 CASH BONUSES FOR EXECUTIVE OFFICERS
Under the employment agreements dated December 21, 2004 that Critical
Therapeutics, Inc. entered into with its executive officers, each executive
officer is eligible for an annual cash bonus in an amount determined by the
Compensation Committee of the Board of Directors. On November 30, 2005, after
reviewing the level of attainment for our company goals for 2005 and the
contributions made by our executive officers and based on the recommendation of
the Compensation Committee, our independent directors of the Board approved
discretionary cash bonuses for our executive officers in respect of our 2005
fiscal year in the following amounts:
Executive Officer Title Cash Bonus
- ----------------- ----- ----------
Paul D. Rubin, M.D. President and Chief Executive Officer $ 110,000
Frederick Finnegan Senior Vice President of Sales and Marketing $ 53,000
Walter Newman, Ph.D. Chief Scientific Officer and Senior Vice President of $ 54,000
Research and Development
Trevor Phillips, Ph.D. Chief Operating Officer and Senior Vice President of $ 49,000
Operations
Frank E. Thomas Chief Financial Officer, Senior Vice President of Finance and $ 47,000
Treasurer
Scott B. Townsend, Esq. Vice President of Legal Affairs and Secretary $ 43,000
The cash bonuses were paid in January 2006 and were included in accrued
expenses as of December 31, 2005.