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Exhibit 10.42    
    


 
 

FIRST HORIZON PHARMACEUTICAL CORPORATION
  
    EXECUTIVE OFFICERS' COMPENSATION FOR 2004 AND 2005
  
    SUMMARY SHEET    
    



	Name
 
	 	Position(2)
	 	Year
	 	Base Salary
	 	Target Bonus(1)

	Patrick P. Fourteau(3)	 	Chief Executive Officer and President	 	2004

2005	 	$
$	225,000

285,000	 	$
$	112,500

242,250
	

Darrell Borne(4)	
 	

Chief Financial Officer, Secretary and Treasurer	
 	

2004

2005	
 	
$
$	

160,000

200,000	
 	
$
$	

80,000

120,000
	

R. Brent Dixon(5)	
 	

Former Executive Vice President	
 	

2004

2005	
 	
$
$	

97,500

—	
 	
$
$	

—

—
	

Sam Gibbons(6)	
 	

Vice President of Sales	
 	

2004

2005	
 	
$
$	

25,227

180,000	
 	
$
$	

—

90,000
	

Michael Mavrogordato(7)	
 	

Vice President of Business Development	
 	

2004

2005	
 	
$
$	

131,250

150,000	
 	
$
$	

65,625

75,000
	

Alan Roberts(8)	
 	

Vice President of Scientific Affairs	
 	

2004

2005	
 	
$
$	

125,000

150,000	
 	
$
$	

31,250

75,000
	

Leslie Zacks	
 	

Vice President of Legal Affairs	
 	

2004

2005	
 	
$
$	

—

180,000	
 	
$
$	

—

90,000






	(1)
	The
target bonus is discretionary and actual amounts paid may be more or less. There is no stated maximum bonus. In 2004, Fourteau, Borne, Mavrogordato, Roberts were
paid bonuses of $150,750, $107,200, $30,000, and $31,250 respectively.



	(2)
	All
executives have been granted stock options by the Company. The options vest under the Company's annual vesting policy of 25% per annum. Executive stock options will
vest immediately if they are terminated without cause or if the Company undergoes a change of control. As of December 31, 2004, Fourteau, Borne, Gibbons, Mavrogordato, Roberts, and Zacks had
outstanding options, vested and unvested, of 610,000, 147,500, 80,000, 55,000, 60,763, and 50,000, respectively.



	(3)
	In
addition to his base salary, Fourteau also received other compensation for the year ended December 31, 2004 of $5,116 contributed under First Horizon's 401(k)
plan in 2004, $255 for group term life insurance, $6,256 for group health insurance premiums, $828 for short term disability insurance premiums and $28,697 in general personal expense reimbursements
related to travel between his home and the Company.



	(4)
	In
addition to his base salary, Borne also received other compensation for the year ended December 31, 2004 of $4,226 contributed under First Horizon's 401(k)
plan in 2004, $255 for group term life insurance, $6,256 for group health insurance premiums and $828 for short term disability insurance premiums.



	(5)
	In
addition to his base salary, Dixon also received other compensation for the year ended December 31, 2004 of $4,300 contributed under First Horizon's 401(k)
plan in 2004, $149 for group term life insurance, $1,809 for group health insurance premiums, $483 for short term disability insurance premiums, $4,353 in COBRA payments, $202,500 in
post-employment payments and $44,000 in bonus payments. 







	(6)
	In
addition to his base salary, Gibbons also received other compensation for the year ended December 31, 2004 of $32 for group term life insurance, $69 for short
term disability insurance premiums and a $5,000 signing bonus.



	(7)
	In
addition to his base salary, Mavrogordato received other compensation for the year ended December 31, 2004 of $102 for group term life insurance and $26,701 in
general personal expense reimbursements related to travel between his home and the Company.



	(8)
	In
addition to his base salary, Roberts also received other compensation for the year ended December 31, 2004 of $5,704 contributed under First Horizon's 401(k)
plan in 2004, $102 for group term life insurance, $6,256 for group health insurance premiums, $828 for short term disability insurance premiums and a retention bonus of $28,750. Roberts is currently
reviewing the standard executive employment agreement, however the agreement has not been finalized. 











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Exhibit 10.42


FIRST HORIZON PHARMACEUTICAL CORPORATION EXECUTIVE OFFICERS' COMPENSATION FOR 2004 AND 2005 SUMMARY SHEET