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Exhibit 10.55

Vertex Employee Compensation Plan

        On an annual basis in the first quarter of the fiscal year the
Management Development and Compensation Committee of our Board of Directors
adopts an employee compensation plan for our officers and other employees,
including our named executive officers together with performance goals for that
fiscal year. The plan addresses three components of employee compensation—base
salary, performance bonus which serve as short-term incentives and equity grants
which serve as long-term incentive—that are designed to motivate, reward and
retain employees by aligning compensation with the achievement of strategic
corporate goals as well as individual performance objectives.

        Upon completion of each performance period (usually a calendar year),
our Board of Directors assigns us a performance rating on the basis of
achievement of goals for the company set by the Board early in the performance
period. The amount available for payment of performance bonuses is established
on the basis of this performance rating, and is allocated to employees on the
basis of salary tier and individual performance rating. The base salary of the
executive officers are set based on market and other competitive factors. Merit
increases to base salaries for other employees are made on the basis of
individual performance rating. Annual equity grants, made in the form of stock
options, restricted stock grants, or a combination of both are made on the basis
of salary tier and individual performance.

        The Management Development and Compensation Committee retains broad
discretion to determine the appropriate form and level of compensation,
particularly for our executives, on the basis of its assessment of our
executives, the demand for talent, our performance and other factors. Key
corporate performance factors generally include, among other things, achievement
of specific financial objectives, research productivity, development progression
with respect to both internal development efforts and collaborative development,
and other aspects of our performance. We reserve the right to modify the plan,
and the key corporate performance factors and criteria under the plan, at any
time.

        On February 7, 2008, we determined the cash bonus awards related to the
fiscal year ended December 31, 2007. The cash bonus awards for the following
executive officers were:

Name

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  2007 Cash Bonus

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Joshua S. Boger   $318,888 John J. Alam   $141,728 Kurt C. Graves   $104,490
(partial year) Peter Mueller   $229,804 Ian F. Smith   $141,907 Kenneth S. Boger
  $116,952

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Exhibit 10.55