**Exhibit      10.29**

**DOV      PHARMACEUTICAL, INC. **

**AUDIT      COMMITTEE CHARTER**

*I.      General Statement of Purpose*

*II.      Composition*

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*III.      Compensation*

*IV.      Meetings*

*V.      Responsibilities and Authority*

*Matters      Relating to Selection, Performance and Independence of      Auditors*

|   | · | Sole                authority to appoint, terminate and determine compensation for its                independent auditors; although the committee may seek stockholder                ratification of its appointment for informational                purposes |
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|   | · | Instruct                the company’s independent auditors to report directly to audit committee |
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|   | · | Exercise                oversight of the company’s independent auditors’ work including resolution                of disagreements between management and the independent                auditors |
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|   | · | Pre-approval                of all audit, audit-related, tax and other services to be provided                by the                company’s independent auditors that are not prohibited by SOX, SEC or                Public Company Accounting Oversight Board |
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|   | · | Pre-approval                of audit-related and non-audit services may be delegated to one or                more                members of audit committee, who shall promptly report such approved                services at the first full committee meeting following such approval |
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|   | · | Review                and approve scope and staffing of the company’s independent auditors’                overall audit plan |
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|   | · | Require                independent auditors to provide audit committee with written disclosures                and letter required by Independence Standards Board Standard No. 1,                and to submit to audit committee on a periodic basis a formal written                statement delineating all relationships between independent auditors                and                company |
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|   | · | Discuss                with independent auditors any disclosed relationships or services                that may                impact objectivity and independence, and take appropriate action                to                satisfy audit committee of auditors' independence |
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|   | · | Discuss                with company and independent auditors whether services of independent                auditors required to be reported in annual report or proxy statement                are                compatible with maintaining auditors' independence |
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*Audited      Financial Statements*

|   | · | Review                overall audit plan with independent auditors and management responsible                for preparing company's financial statements |
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|   | · | Review                and discuss with management and independent auditors as appropriate: |
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|  | · | Company's                annual audited financial statements including all critical accounting                policies and practices used or to be used by company and any significant                financial reporting issues that have arisen in connection with preparation                of audited financial statements, prior to filing company's annual                report |
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|  | · | Any                analysis prepared by management or independent auditors setting forth                significant financial reporting issues and judgments made in connection                with preparation of financial statements including analyses of effect                of                alternative GAAP methods on financial statements |
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|  | · | Ramifications                of use of such alternative disclosures and treatments on financial                statements and treatment preferred by independent auditors, and consider                other material written communications between independent auditors                and                management including any management letter or schedule of unadjusted                differences |
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|  | · | Major                issues relating to adequacy of company's internal controls and procedures                for financial reporting and risk management policies |
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|  | · | Major                changes in and other issues regarding accounting principles and procedures                including any significant changes in company's selection or application                of                accounting principles and |
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|  | · | Effect                on financial statements of regulatory and accounting initiatives                as well                as off-balance sheet transactions and structures |
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|   | · | Review                and discuss outside presence of management any audit problems or                difficulties and management's response thereto including any difficulties                encountered by independent auditors in the course of their work,                including                any restrictions on scope of their activities or access to information,                responsibilities, budget and staffing of company's internal audit                function                if any or financial reporting function and any significant accounting                issues raised with management |
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|   | · | Review                and discuss matters brought to attention of audit committee by independent                auditors pursuant to Statement on Auditing Standards No. 61 and No.                90 (SAS                61                and SAS 90) including any |
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|  | · | Restriction                on scope of independent auditors' activities or access to requested                information |
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|  | · | Accounting                adjustments proposed by independent auditors but not made by management |
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|  | · | Communication                between independent auditors and its national office regarding significant                auditing or accounting issues presented by management |
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|  | · | Management                or internal control letter issued, or proposed to be issued, by                independent auditors and |
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|  | · | Significant                disagreement between company and independent auditors |
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|   | · | Review                and discuss with independent auditors their report pursuant to Securities                Exchange Act on their non-audit services if any |
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|   | · | If                brought to audit committee's attention, discuss with CEO, CFO and                general                counsel (a) significant deficiencies and material weaknesses in design                or                operation of internal controls and procedures for financial reporting                that                could adversely affect company's ability to record, process, summarize                and                report financial information or (b) any fraud involving management                or                other employees who have a significant role in company's internal                controls                and procedures for financial reporting |
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|   | · | Based                on its review of (a) reports from independent auditors on company’s system                of internal controls and its review of auditing, accounting and financial                reporting process and (b) discussions with management including review                of                matters required to be discussed by SAS 61 and SAS 90, recommend                to board                whether company's audited financial statements should be included                in 10-K |
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|   | · | Prepare                audit committee report required by Item 306 of Regulation S-K to be                included in company's annual proxy statement |
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*Unaudited      Quarterly Financial Statements*

|   | · | Discuss                with management and independent auditors and review any financial                information including press releases and Form 10-Q submitted to a                governmental body or the public including any certification, report,                opinion or review by the independent auditors. |
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*Procedures      for Addressing Complaints and Concerns*

|   | · | Establish                and require company to publish or file procedures for receipt, retention                and treatment of complaints received by company regarding accounting,                internal accounting controls or auditing matters and confidential,                anonymous submission to audit committee by employees of concerns                regarding                questionable accounting or auditing matters or disclosure controls |
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*Regular      Reports to Board*

|   | · | Regularly                report to board on and review with board any issues that arise with                respect to quality or integrity of company's financial statements,                compliance with legal or regulatory requirements, performance and                independence of auditors, performance of internal audit function                if any                and any other matters that audit committee considers appropriate                or is                requested by board to review |
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*Review      of Charter*

|   | · | Review                at least annually and more often as appropriate adequacy of charter                and                recommend amendments if any to board |
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*Engagement      of Advisors*

|   | · | Engage                and determine compensation for independent counsel to audit committee                and                such other advisors necessary or appropriate to carry out its                responsibilities and powers |
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*Legal      and Regulatory Compliance*

|   | · | Discuss                with management legal and regulatory requirements applicable to company                and its subsidiaries and company's compliance, and make recommendations                to                board regarding compliance |
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|   | · | Discuss                with CEO, CFO and general counsel legal matters (including pending                or                threatened litigation) that may have a material effect on company's                financial statements or its legal and regulatory compliance policies                and                procedures |
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*General*

|   | · | Form                and delegate authority to subcommittees consisting of one or more                of its                members to carry out its responsibilities and exercise its powers |
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|   | · | Require                that any officer or employee of company, company's outside legal                counsel,                independent auditors or any other professional retained by company                attend                a meeting of audit committee or meet with any member of or advisor                to                committee |
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**(Adopted      by board of directors on March 6, 2006, further amending charter adopted March      21, 2003 and amended March 14, 2005) **

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