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Related Party Transactions
12 Months Ended
Dec. 31, 2011
Related Party Transactions [Abstract]  
Related Party Transactions
NOTE 10 — RELATED PARTY TRANSACTIONS

Significant related party transactions in addition to those discussed above are summarized below.

In connection with the employment agreement executed with our Chairman and CEO, we have deferred compensation payable of $500,000 included in accrued expenses as of December 31, 2011.

During 2011 and 2010, we recognized interest expense of approximately $0.7 million and $0.5 million, respectively, in connection with loans from major stockholders of the Company.

On January 24, 2011, we entered into a separation agreement and consulting agreement with a former officer in conjunction with his resignation effective of the same date. The consulting agreement requires payments aggregating $250,000 to be paid over the 15 months following the date of the separation agreement for consulting services on financial matters. In addition, the separation agreement provides that the former officer will forgo payment of a deferred compensation balance of approximately $141,000 and a deferred bonus of $135,000 as of December 31, 2010.

On September 24, 2010, we entered into a consulting agreement with another former officer in conjunction with his resignation effective of the same date requiring payments aggregating $250,000 over the next year for consulting services intended to improve the efficiency of our clinical operations. Both parties had fulfilled the terms of the agreement as of October 2011.