Document:

OMNIBUS
      AMENDMENT AND CONSENT 

    

    OMNIBUS
      AMENDMENT AND CONSENT EFFECTIVE AS OF May 24, 2006 (this “Omnibus
      Amendment and Consent”)
      by and
      among Acura Pharmaceuticals, Inc. (the “Company”),
      and
      Acura Pharmaceutical Technologies, Inc. and the following lenders (“Lenders”):
      Galen
      Partners III, L.P. (as agent for the other lenders (“Agent”)
      and as
      a lender itself), Galen Partners International, III, L.P., Galen Employee Fund
      III, L.P., Care Capital Offshore Investments II, LP, Care Capital Investments
      II, LP, Essex Woodlands Health Ventures V, L.P., Dennis Adams, George E.
      Boudreau, Michael Weisbrot, Susan Weisbrot; and the following persons with
      respect to Sections 5, 6, 7, and 8: John E. Heppe Jr. and Peter Steiglitz
      (“Additional
      Watson Holders”).

    

    Capitalized
      terms used herein and not defined herein have the meanings set forth in the
      Subordination Agreement dated as of January 31, 2006 among the Lenders, the
      Company and others (the “Subordination
      Agreement”).

    

    R
      E C I T A L S

    

    WHEREAS
      the
      Company and one or more Lenders have entered into the June 2005 Loan Agreement,
      the September 2005 Loan Agreement, the November 2005 Loan Agreement and the
      January 2006 Loan Agreement (collectively, the “Loan
      Agreements”)
      and
      such other agreements, notes and instruments executed in connection with such
      loan agreements (collectively, the “Loan
      Documents”);
      and

    

    WHEREAS,
      the
      Company and certain Lenders and the Additional Watson Holders are parties to
      the
      Watson Note (as defined in the Subordination Agreement); and

    

    WHEREAS,
      the
      loans extended pursuant to the Loan Agreements are due to mature on June 1,
      2006
      (the “Original
      Maturity Date”);
      and

    

    WHEREAS,
      the
      Company and the Lenders wish to extend the Original Maturity Date.

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants herein contained, the parties mutually
      agree as follows:

    

    AMENDMENT
      AND CONSENT 

     

    1.    Amendments:

    

    
      	
            	(a)	
              Each
                of the June 2005 Loan Agreement, the September 2005 Loan Agreement,
                the
                November 2005 Loan Agreement and the January 2006 Loan Agreement
                is
                amended by replacing “June 1, 2006” in Section 2.1 thereof with “September
                1, 2006” 

            

    

    

    
      	
            	(b)	
              Each
                of the June 2005 Notes, the September 2005 Notes, the November 2005
                Notes
                and the January 2006 Notes (and each of the forms of such Notes attached
                to the June 2005 Loan Agreement, the September 2005 Loan Agreement,
                the
                November 2005 Loan Agreement and the January 2006 Loan Agreement)
                is
                amended by:

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (i)    replacing
      the words June 1, 2006, wherever they appear therein with “September 1, 2006”;
      and 

    

    (ii)    appending
      the
      following additional section to such note:

    

    References
      to Loan Agreement.
      References to the Loan Agreement in this Note shall mean references to the
      Loan
      Agreement, as amended, and as the same may be further amended, supplemented
      or
      modified from time to time.

    

    
      	
            	(c)	
              In
                the event a Replacement Note (as hereinafter defined) is issued pursuant
                to Section 4 hereof, then in such Replacement Note the words “Secured
                Promissory Note” shall be replaced with “Amended and Restated Promissory
                Secured Note” and the following section shall be appended thereto:
                

            

    

    

     Amended
      and Restated Secured Promissory Note.
      This Amended and Restated Secured Promissory Note issued by the Company in
      favor
      of the Payee amends and restates in its entirety, and is issued by the Company
      in replacement of and substitution for a Secured Promissory Note of identical
      principal amount issued to Payee pursuant to the Loan Agreement(the “Original
      Note”). The Company and the Payee acknowledge and agree that upon the execution
      delivery of this Amended and Restated Secured Promissory Note, the Original
      Note
      shall be null and void and of no further legal force or effect.

    

    
      	 	
              The
                form of such Replacement Note shall be also be attached to the applicable
                Loan  Agreement
                as an acceptable form of note to be issued pursuant
                thereto.

            

    

    

    2.    References
      to Loan Documents:
      Any
      reference to any Loan Document in any other Loan Document shall mean the Loan
      Document, as amended hereby. 

    

    3.    Attachment
      to All Notes:
      The
      Lenders covenant to give a copy of this Omnibus Amendment and Consent to any
      purchaser of the June 2005 Notes, the September 2005 Notes, the November 2005
      Notes or the January 2006 Notes prior to the actual purchase and to attach
      a
      copy of this Omnibus Amendment and Consent to any of such notes where the
      undersigned is the named payee or holder.

    

    4.    Amended
      and Restated Notes. 
      Upon
      request of the Company, each Lender agrees to deliver to the Company any of
      the
      June 2005 Notes, the September 2005 Notes, the November 2005 Notes or the
      January 2006 Notes issued to them, in exchange for an amended and restated
      Note
      (the “Replacement
      Note”)
      incorporating the amendments set forth in this Omnibus Amendment and Consent.
      

    

    5.    Subordination
      Agreement.  Each
      Lender and Additional Watson Holder agrees to the provisions of this Omnibus
      Amendment and Consent, including without limitation, to the amendments to the
      June 2005, September 2005 Notes, the November 2005 Notes and the January 2006
      Notes and acknowledges that the Subordination Agreement shall remain in full
      force and effect .

     

    6.    Notes
      and Agreements Not Assigned. The
      undersigned Lenders and Additional Watson Holders acknowledge that they have
      not
      transferred, conveyed or assigned any of the Watson Note, the June 2005 Notes,
      the September 2005 Notes, the November 2005 Notes or the January 2006 Notes
      issued to them and the undersigned Lenders and Additional Watson Holders
      acknowledge that they have not assigned any rights under the Loan Documents
      or
      under the Subordination Agreement.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    7.    Counterparts:
      This
      Omnibus Amendment and Consent may be executed in one or more counterparts and
      by
      different parties hereto in separate counterparts, including by facsimile,
      each
      of which when so executed and delivered shall be deemed an original, but all
      such counterparts together shall constitute but one and the same instrument.
      

    

    8.    Governing
      Law:
      THIS
      OMNIBUS AMENDMENT AND CONSENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
      HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF
      THE
      STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
      LAWS.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, each of the Parties have caused this Omnibus, Amendment, Waiver
      and Consent to be duly executed and delivered as of the day and year first
      above
      written.

     

    
      	 	 	 
	 	ACURA
              PHARMACEUTICALS, INC.
	 
 	 
 	 
 
	 	By:  	/s/ Peter
              A.
              Clemens
	 	
              
Name:
              Peter A. Clemens
	 	Title:
              Sr. Vice President and CFO

    

     

    
      	 	 	 
	 	
              ACURA
                PHARMACEUTICAL
TECHNOLOGIES
                , INC.

            
	 
 	 
 	 
 
	 	By:  	/s/ Peter
              A.
              Clemens
	 	
              
Name:
              Peter A. Clemens
	 	Title:
              Sr. Vice President and CFO

    

     

    
 

    

    
      	
              LENDER
                AND AGENT:

              GALEN
                PARTNERS III, L.P.

              By:
                Claudius, L.L.C., General Partner

              610
                Fifth Avenue, 5th
                Fl.

              New
                York, New York 10019

               

              /s/
                Bruce Wesson

              
                

              

              By:
                Bruce Wesson

              Its:
                General Partner

            	 	
              LENDER:

              CARE
                CAPITAL OFFSHORE INVESTMENTS II, LP

              By:
                Care Capital II, LLC, as general partner

              47
                Hulfish Street, Suite 310

              Princeton,
                NJ 08542

               

              /s/
                David Ramsay

              
                
                  

                

              

              By:
                David R. Ramsay

              Its:
                Authorized Signatory

            
	 	 	 
	 	 	 
	
              LENDER:

              GALEN
                PARTNERS INTERNATIONAL, III, L.P.

              By:
                Claudius, L.L.C., General Partner

              610
                Fifth Avenue, 5th
                Floor

              New
                York, New York 10020

               

              /s/
                Bruce Wesson

              
                
                  

                

              

              By:
                Bruce Wesson

              Its:
                General Partner

            	 	
              LENDER:

              CARE
                CAPITAL INVESTMENTS II, LP

              By:
                Care Capital II, LLC, as general partner

              47
                Hulfish St., Suite 310

              Princeton,
                NJ 08542

               

              By:
                /s/
                David Ramsay

              
                
                  

                

              

              Name:
                David R. Ramsay

              Title:
                Authorized Signatory

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

     

    
      	
              LENDER:

              GALEN
                EMPLOYEE FUND III, L.P.

              By:
                Wesson Enterprises, Inc.

              610
                Fifth Avenue, 5th
                Floor

              New
                York, New York 10020

               

              /s/
                Bruce Wesson

              
                
                  

                

              

              By:
                Bruce F. Wesson

              Its:
                General Partner

            	
              LENDER:

              ESSEX
                WOODLANDS HEALTH 

              VENTURES
                V, L.P.

              190
                South LaSalle Street, Suite 2800

              Chicago,
                IL 60603

               

              /s/
                Immanuel Thangaraj

              
                
                  

                

              

              By:
                Immanuel Thangaraj

              Its:
                Managing Director

            
	 	 
	 	 
	
              LENDER:

              MICHAEL
                WEISBROT

              1136
                Rock Creek Road

              Gladwyne,
                Pennsylvania 19035

               

              /s/
                Michael Weisbrot

              
                
                  

                

              

            	
              LENDER:

              SUSAN
                WEISBROT

              1136
                Rock Creek Road

              Gladwyne,
                Pennsylvania 19035

               

              /s/
                Susan Weisbrot

              
                
                  

                

              

            
	 	 
	 	 
	
              LENDER:

              DENNIS
                ADAMS

              120
                Kynlyn Road

              Radnor,
                Pennsylvania 19312

               

              /s/
                Dennis Adams

              
                
                  

                

              

            	
              LENDER:

              GEORGE
                E. BOUDREAU

              222
                Elbow Lane

              Haverford,
                PA 19041

               

              /s/
                George Boudreau  

              
                
                  

                

              

            
	 	 
	 	 
	
              ADDITIONAL
                WATSON HOLDER:

              PETER
                STIEGLITZ

              RJ
                Palmer LLC

              156
                West 56th Street, 5th Floor

              New
                York, New York 10019

               

              /s/
                Peter Stieglitz

              
                
                  

                

              

            	
              ADDITIONAL
                WATSON HOLDER:

              JOHN
                E. HEPPE, JR. 

              237
                W. Montgomery Avenue

              Haverford,
                Pennsylvania 19041

               

               

              /s/
                John HeppeExhibit
      10.1

    

    Changes
      to Director Compensation Arrangement

    

    Directors
      of Peoples Bancorp, Inc. also serve as directors of its subsidiary, Peoples
      Bank
      of Kent County, Maryland (the “Bank”), but they are compensated only for serving
      on the Bank’s Board and its committees. The fees paid to non-employee directors
      of the Bank are typically re-evaluated by the Bank’s Personnel/Compensation
      Committee in May of each year.
      On May
      24, 2006, the Bank’s Board of Directors, upon the recommendation of the
      Personnel/Compensation Committee, approved increases in the fees paid to
      non-employee directors for attending regular and committee meetings. Effective
      as of that date, non-employee directors of the Bank’s Board now receive $416
      (previously $390) for each regular Board meeting attended; the Chairman and
      the
      Secretary now receive $425 (previously $400) and $420 (previously $395),
      respectively, for each regular Board meeting attended; non-employee members
      of
      the Executive Committee now receive $280 (previously $265) for each committee
      meeting attended, except for the Chairman of that committee who now receives
      $290 (previously $275) for each committee meeting attended; and members of
      all
      other committees now receive $190 (previously $180) for each committee meeting
      attended. No change was made to the annual director retainer fee, which is
      $1,000. Directors who serve as trustees of the Bank’s Employee Retirement Plan
      and its Profit Sharing 401(k) Plan receive an annual retainer fee of $215
      (previously $200). Non-employee directors emeritus receive $208 per Board
      meeting attended, up from the $195 paid last year. Currently, E. Roy Owens
      is
      the only director emeritus.

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