Exhibit 10.27 January 23, 2002 Dr. Arnold Lippa Chief Executive Officer DOV Pharmaceutical, Inc. 433 Hackensack Avenue Hackensack NJ, 07601 RE: EXTENSION OF EMPLOYMENT AGREEMENT Dear Dr. Lippa: This will confirm the extension of your December 10,...

                                                                   Exhibit 10.27





January 23, 2002


Xx. Xxxxxx Xxxxx
Chief Executive Officer
DOV Pharmaceutical, Inc.
000 Xxxxxxxxxx Xxxxxx
Xxxxxxxxxx XX, 00000

RE: EXTENSION OF EMPLOYMENT AGREEMENT

Dear Xx. Xxxxx:

         This will confirm the extension of your December 10, 1998, Employment
Agreement with DOV Pharmaceutical, Inc. through December 10, 2004. All terms and
conditions therein shall remain in full force and effect, except for the
increase of your base compensation to $275,000 per year, and the increase of
your car allowance to $1400 per month.

Sincerely,

/s/ Xxxx Xxxxxxxx
------------------------
Xx. Xxxx Xxxxxxxx,
Compensation Committee



ACKNOWLEDGED AND AGREED:


/s/ Xxxxxx Xxxxx
--------------------------
Xx. Xxxxxx Xxxxx
Chief Executive Officer