year), payable in monthly installments over a period not to exceed two years (based on the executive’s years of service) In addition, in the event of termination without cause, the executive is entitled to a continuation of benefits and to the accelerated vesting of all options then held by the executive. The severance payment and benefits are reduced by any compensation or benefits received by the executive from any subsequent employer.

          Effective as of December 31, 2008, the Company and the named executive officers entered into an amendment to the existing Executive Severance Agreements and Change in Control Severance Agreements between the Company and such persons. The primary purpose of such amendment was to modify such agreements so that they conform to Section 409A of the Internal Revenue Code. In addition, the amendment to the Executive Severance Agreement modified the calculation of the severance amount thereunder so that it is based on the highest annual rate of base salary during the 12-month period immediately prior to the qualifying termination.

          The following table summarizes information with respect to equity compensation plans under which equity securities of the Company are authorized for issuance as of December 31, 2010. For additional information about our equity compensation plans, see note 5 to our financial statements in Item 8 of our 2010 Annual Report on Form 10-K:

Number of securities

Weighted-average

Number of

to be issued upon

exercise price of

securities

exercise of

outstanding

remaining

outstanding options

options and

available for

Plan category

and warrants

warrants

future issuance

Equity compensation plans approved by security holders

2,193,673

$

4.28

845,443

Equity compensation plans not approved by security holders

88,719

$

4.28

—

Total

2,282,392

845,443

2010 DIRECTOR COMPENSATION

          The following table sets forth the compensation earned by non-employee Directors for their service on the Board of Directors and its committees, as applicable, during the year ended December 31, 2010:

		Fees Earned or				Option
		Paid in Cash				Awards (1)				Total
David I. Beatson		$	38,000			$	24,579	(2)		$	62,579
James F. Reilly			48,000				24,579	(3)			72,579
Dr. Neil W. Jacobs			38,000				24,579	(4)			62,579
Timothy M. Murray			32,000				24,579	(5)			56,579

          In June 1999 the Company adopted a Non-Employee Director Stock Option and Retainer Plan (the “Non-Employee Director Plan”). As amended in June 2010, the Non-Employee Director Plan also provides for the issuance to each non-employee director of options to purchase 10,000 shares of common stock as of the date of each annual meeting of stockholders. During calendar year 2010, each non-employee director received an option to purchase 10,000 shares of common stock with an exercise price of $3.43 per share. In addition, currently, non-employee directors receive an annual retainer fee of $22,000, payable quarterly, a director meeting fee of $2,500 for each board meeting attended and a committee meeting fee of $1,500 for each quarterly Audit Committee meeting attended and also receive fees for participation in certain periodic conference calls. The lead director receives an additional $5,000 for each board meeting attended. The Non-Employee Director Plan permits the payment of such non-employee director retainer fees in shares of Common Stock in lieu of cash.