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  <TITLE> Memory Pharmaceuticals Corp. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	July 5, 2006
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  	Memory Pharmaceuticals Corp.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	&nbsp;
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  	Delaware
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  	000-50642
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  	04-3363475
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	&nbsp;
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  	100 Philips Parkway, Montvale, New Jersey
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  	&nbsp;
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  	07645
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	(201) 802 - 7100
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  <FONT SIZE="2">
  	&nbsp;
  </FONT>
  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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  On July 5, 2006, Michael Smith joined Memory Pharmaceuticals Corp. (the "Registrant"), as Vice President of Business Development.  Under an employment letter agreement between the Registrant and Mr. Smith, dated May 3, 2006, which is for an unspecified term, Mr. Smith is entitled to an initial base salary of $250,000, a one-time signing bonus of $50,000 (the "One-time Bonus"), and an initial stock option grant to purchase 150,000 shares of the Registrant&#x2019;s common stock, vesting over four years in quarterly installments, as well as a subsequent grant of stock options to purchase 100,000 shares of the  Registrant&#x2019;s common stock, to be issued not later than October 1, 2006.  Mr. Smith is also entitled to receive annual bonus payments that depend on the Registrant&#x2019;s performance and his individual performance, in each case, as determined by the Registrant&#x2019;s Board of Directors.  In the event that the Registrant terminates Mr. Smith&#x2019;s employment without Cause (as defined in the agreement) or for Good Reason (as defined below), he is entitled to receive 12 months&#x2019; severance, based on his then-current base salary, payable over the 12-month period following termination, plus continued health coverage for up to one year.  For purposes of this agreement, Good Reason means the termination by Mr. Smith of his employment with the Registrant within 18 months after a Change in Control (as defined in the agreement) or the sale of a majority of the Registrant&#x2019;s assets, obligations or business, provided such termination occurs within three months after: (i) a material diminution in Mr. Smith&#x2019;s responsibilities, (ii) Mr. Smith no longer reports to the Registrant&#x2019;s Chief Executive Officer, (iii) Mr. Smith&#x2019;s principal work location changes by more than 50 miles from the Registrant&#x2019;s current principal offices, or (iv) the Registrant reduces Mr. Smith&#x2019;s base salary, unless such reduction is pursuant to a plan and as a consequence the base salaries of all of the Company&#x2019;s executives are similarly reduced. Under this agreement, Mr. Smith is entitled to reimbursement for relocation expenses of up to $150,000 including a gross-up payment for taxes incurred by him in connection with this payment (the "Relocation Allowance").  If Mr. Smith resigns or his employment is terminated for Cause within 18 months of Mr. Smith&#x2019;s start date, he will be required to repay the One-time Bonus and the Relocation Allowance.  <br><br>The foregoing description of Mr. Smith&#x2019;s employment letter agreement is qualified in its entirety by reference to the full text of the employment letter agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.<br>
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  <B>
  	Item 9.01 Financial Statements and Exhibits.
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  10.1	Employment Letter Agreement dated as of May 3, 2006, between Michael Smith and the Registrant.<br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	&nbsp;
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  	Memory Pharmaceuticals Corp.
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  	&nbsp;&nbsp;
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  	&nbsp;
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  	&nbsp;
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  	&nbsp;
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  	&nbsp;
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  <I>
  	July 5, 2006
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  	&nbsp;
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  <I>
  	By:
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  	&nbsp;
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  <I>
  	/s/ Jzaneen Lalani
  </I>
  <BR>
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  <FONT SIZE="2">
  	&nbsp;
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  	&nbsp;
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  	&nbsp;
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  <I>
  	Name: Jzaneen Lalani
  </I>
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  	&nbsp;
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  	&nbsp;
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  <I>
  	Title: Vice President, Legal Affairs
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  	Exhibit&nbsp;Index
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  <B>
  	Exhibit No.
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  	&nbsp;
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  <B>
  	Description
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  	10.1
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  	&nbsp;
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  <TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
  <FONT SIZE="2">
  Employment Letter Agreement dated as of May 3, 2006, between Michael Smith and the Registrant.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_13532.htm", "description": "LIVE FILING", "secsgml_size_bytes": 12592}]
metadata_filer: {"company-data": {"conformed-name": "MEMORY PHARMACEUTICALS CORP", "cik": "0001062216", "assigned-sic": "2834", "irs-number": "000000000"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50642", "film-number": "06945923"}, "business-address": {"street1": "100 PHILIPS PARKWAY", "city": "MONTVALE", "state": "NJ", "zip": "07645", "phone": "2018027100"}}
text: Memory Pharmaceuticals Corp. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  July 5, 2006
  Memory Pharmaceuticals Corp.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  000-50642
  04-3363475
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  100 Philips Parkway, Montvale, New Jersey
  07645
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (201) 802 - 7100
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On July 5, 2006, Michael Smith joined Memory Pharmaceuticals Corp. (the "Registrant"), as Vice President of Business Development.  Under an employment letter agreement between the Registrant and Mr. Smith, dated May 3, 2006, which is for an unspecified term, Mr. Smith is entitled to an initial base salary of $250,000, a one-time signing bonus of $50,000 (the "One-time Bonus"), and an initial stock option grant to purchase 150,000 shares of the Registrant's common stock, vesting over four years in quarterly installments, as well as a subsequent grant of stock options to purchase 100,000 shares of the  Registrant's common stock, to be issued not later than October 1, 2006.  Mr. Smith is also entitled to receive annual bonus payments that depend on the Registrant's performance and his individual performance, in each case, as determined by the Registrant's Board of Directors.  In the event that the Registrant terminates Mr. Smith's employment without Cause (as defined in the agreement) or for Good Reason (as defined below), he is entitled to receive 12 months' severance, based on his then-current base salary, payable over the 12-month period following termination, plus continued health coverage for up to one year.  For purposes of this agreement, Good Reason means the termination by Mr. Smith of his employment with the Registrant within 18 months after a Change in Control (as defined in the agreement) or the sale of a majority of the Registrant's assets, obligations or business, provided such termination occurs within three months after: (i) a material diminution in Mr. Smith's responsibilities, (ii) Mr. Smith no longer reports to the Registrant's Chief Executive Officer, (iii) Mr. Smith's principal work location changes by more than 50 miles from the Registrant's current principal offices, or (iv) the Registrant reduces Mr. Smith's base salary, unless such reduction is pursuant to a plan and as a consequence the base salaries of all of the Company's executives are similarly reduced. Under this agreement, Mr. Smith is entitled to reimbursement for relocation expenses of up to $150,000 including a gross-up payment for taxes incurred by him in connection with this payment (the "Relocation Allowance").  If Mr. Smith resigns or his employment is terminated for Cause within 18 months of Mr. Smith's start date, he will be required to repay the One-time Bonus and the Relocation Allowance.
  The foregoing description of Mr. Smith's employment letter agreement is qualified in its entirety by reference to the full text of the employment letter agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
  Item 9.01 Financial Statements and Exhibits.
  10.1	Employment Letter Agreement dated as of May 3, 2006, between Michael Smith and the Registrant.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Memory Pharmaceuticals Corp.
  July 5, 2006
  By:
  /s/ Jzaneen Lalani
  Name: Jzaneen Lalani
  Title: Vice President, Legal Affairs
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Employment Letter Agreement dated as of May 3, 2006, between Michael Smith and the Registrant.