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      8-K</strong></font></div>
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      1934</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DATE
      OF
      REPORT - March 30, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Date
      of
      Earliest Event Reported)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 86.4pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong><u>COLUMBIA
      LABORATORIES, INC.</u></strong></font></div>
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      name of registrant as specified in its charter)</font></div>
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      File No. 1-10352</font></div>
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                No.)</font></div>
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            <td align="left" valign="top" width="12%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 21.6pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">354
                Eisenhower Parkway</font></div>
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                New Jersey</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 21.6pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                of principal</font></div>
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                offices)</font></div>
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      telephone number, including area code: (973) 994-3999</font></div>
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      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
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      communications pursuant to Rule
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      communications pursuant to Rule
      13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
      into a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Employment
      Agreement with Robert S. Mills. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      March
      30, 2006, Columbia Laboratories, Inc. (the &#8220;Company&#8221;) entered into an employment
      agreement (the &#8220;Mills Agreement&#8221;) with Robert S. Mills defining the terms of his
      employment with the Company as its President and Chief Executive Officer,
      effective January 5, 2006. The initial term of Mr. Mills&#8217; employment under the
      Mills Agreement is through March 31, 2008 (unless earlier terminated in
      accordance with the terms of the Mills Agreement), with automatic one-year
      renewals unless either party gives written notice of nonrenewal at least sixty
      (60) days prior to the end of the then current term. If the Company elects
      not
      to renew the Mills Agreement, it is obligated to pay severance equal to one
      year&#8217;s base salary to Mr. Mills. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the Mills Agreement, Mr. Mills&#8217; annual base salary is $340,000 subject to
      annual review and, within the discretion of the Board of Directors, upward
      adjustment. Mr. Mills is eligible to receive a target annual bonus of 50% of
      his
      base salary, as then in effect, based upon the parameters and criteria contained
      in the Company&#8217;s bonus plan and within the discretion of the Board of Directors.
      Mr. Mills&#8217; actual bonus award may be higher or lower than the target bonus
      amount based upon achievement of the objectives by Mr. Mills and the Company.
      Mr. Mills is also entitled to participate in the benefit programs generally
      available to Company employees.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the Mills Agreement, on March 30, 2006, Mr. Mills received a grant of 40,000
      shares of restricted Company common stock under the Company&#8217;s
      1996&#160;Long-term Performance Plan. The restrictions on the shares will lapse
      on the first business day of the calendar month following the Company&#8217;s
      announcement of results of its Phase III multi-center, randomized, double-blind,
      placebo-controlled, clinical trial designed to assess the efficacy, safety
      and
      tolerability of Prochieve</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      8%
      (progesterone gel) in preventing preterm delivery in pregnant women who are
      at
      increased risk for preterm birth.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Mills
      has the right, under the Mills Agreement, to resign his employment for "Good
      Reason," as that term is defined in the Mills Agreement. The Company has the
      right, under the Mills Agreement, to terminate Mr. Mills&#8217; employment with or
      without "Cause," as that term is defined in the Mills Agreement. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Termination
      for Cause for certain act(s) or failure(s) to act would not take effect unless
      and until the Company gives Mr. Mills written notice of the Company&#8217;s intention
      to terminate his employment for Cause, stating in detail the particular act(s)
      or failure(s) to act that constitute the grounds on which the proposed
      termination for Cause is based, and an opportunity to cure such conduct, if
      possible. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the Mills Agreement, Mr. Mills&#8217; employment with the Company will terminate
      upon his death or in the event he has a &#8220;Disability,&#8221; as such term is defined in
      the Mills Agreement.</font></div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      Mr.
      Mills&#8217; employment is terminated by the Company without Cause or by Mr. Mills
      with Good Reason, the Mills Agreement provides for payment of Mr. Mills&#8217; base
      salary through the date of termination and a lump sum cash payment of one year's
      annual base salary plus </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      greater of the amount of the cash bonus paid to Mr. Mills in the preceding
      year
      pursuant to </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      Company&#8217;s bonus plan </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or
      his
      target bonus in effect at the time of the termination</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      Mr.
      Mills will also be entitled to receive the medical and dental coverage in effect
      on the date of his termination for a period of twelve (12) months
      thereafter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">2</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the Mills Agreement, Mr. Mills is prohibited from competing with the Company
      for a period of one year following the termination of his employment for any
      reason, and is also prohibited from soliciting any of the Company&#8217;s employees,
      customers or vendors during that period.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Mills
      Agreement incorporates without change Mr. Mills&#8217; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive
      Change in Control Severance Agreement dated as of April 8, 2004.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      In the
      event of a &#8220;Change in Control&#8221; of the Company, as that term is defined in the
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive
      Change in Control Severance Agreement, if</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Mr.
      Mills&#8217; employment is terminated by the Company without &#8220;Cause&#8221; or by Mr. Mills
      with &#8220;Good Reason&#8221;, as those terms are defined in the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive
      Change in Control Severance Agreement</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      (and
      within the time periods provided)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Mr.
      Mills will receive a lump sum cash payment equal to one year's annual base
      salary, plus </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      greater of the cash bonus paid to Mr. Mills in the preceding year pursuant
      to
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      Company&#8217;s bonus plan </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or
      his
      target bonus in effect at the time of the termination</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      plus
      the value of fringe benefits provided to him for the year prior to the Change
      in
      Control.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      copy of
      the Mills Agreement is attached as Exhibit 10.60 to this Current Report on
      Form
      8-K and is incorporated herein by reference. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Employment
      Agreement with Michael McGrane. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      March
      30, 2006, the Company entered into an employment agreement (the &#8220;McGrane
      Agreement&#8221;) with Michael McGrane defining the terms of his employment with the
      Company as its Senior Vice President, General Counsel, and Secretary, effective
      January 5, 2006. The initial term of Mr. McGrane&#8217;s employment under the McGrane
      Agreement is through March 31, 2008 </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(unless
      earlier terminated in accordance with the terms of the McGrane
      Agreement)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      with
      automatic one-year renewals unless either party gives written notice of
      nonrenewal at least sixty (60) days prior to the end of the then current term.
      If the Company elects not to renew the McGrane Agreement, it is obligated to
      pay
      severance equal to one year&#8217;s base salary to Mr. McGrane. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the McGrane Agreement, Mr. McGrane&#8217;s annual base salary is $279,500 subject
      to annual review and, within the discretion of the Board of Directors, upward
      adjustment. Mr. McGrane is eligible to receive a target annual bonus of 40%
      of
      his base salary, as then in effect, based upon the parameters and criteria
      contained in the Company&#8217;s bonus plan, within the discretion of the Board of
      Directors, and in consultation with the Company&#8217;s President. Mr. McGrane&#8217;s
      actual bonus award may be higher or lower than the target bonus amount based
      upon achievement of the objectives by Mr. McGrane and the Company. Mr. McGrane
      is also entitled to participate in the benefit programs generally available
      to
      Company employees.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the McGrane Agreement, on March 30, 2006, Mr. McGrane received a grant of
      30,000 shares of restricted Company common stock under the Company&#8217;s
      1996&#160;Long-term Performance Plan. The restrictions on the shares will lapse
      on the first business day of the calendar month following the Company&#8217;s
      announcement of results of its Phase III multi-center, randomized, double-blind,
      placebo-controlled, clinical trial designed to assess the efficacy, safety
      and
      tolerability of Prochieve</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>&#174;</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      8%
      (progesterone gel) in preventing preterm delivery in pregnant women who are
      at
      increased risk for preterm birth.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      McGrane has the right, under the McGrane Agreement, to resign his employment
      for
      "Good Reason," as that term is defined in the McGrane Agreement. The Company
      has
      the right, under the McGrane Agreement, to terminate Mr. McGrane&#8217;s employment
      with or without "Cause," as that term is defined in the McGrane Agreement.
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Termination
      for Cause for certain act(s) or failure(s) to act would not take effect unless
      and until the Company gives Mr. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">McGrane</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      written
      notice of the Company&#8217;s intention to terminate his employment for Cause, stating
      in detail the particular act(s) or failure(s) to act that constitute the grounds
      on which the proposed termination for Cause is based, and an opportunity to
      cure
      such conduct, if possible</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the McGrane Agreement, Mr. McGrane&#8217;s employment with the Company will
      terminate upon his death or in the event he has a &#8220;Disability,&#8221; as such term is
      defined in the McGrane Agreement.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      </font></div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      Mr.
      McGrane&#8217;s employment is terminated by the Company without Cause or by Mr.
      McGrane with Good Reason, the McGrane Agreement provides for payment of Mr.
      McGrane&#8217;s base salary through the date of termination and a lump sum cash
      payment of one year's annual base salary plus </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      greater of the amount of the cash bonus paid to Mr. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">McGrane</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      in the
      preceding year pursuant to </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      Company&#8217;s bonus plan </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or
      his
      target bonus in effect at the time of the termination</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
      Mr.
      McGrane will also be entitled to receive the medical and dental coverage in
      effect on the date of his termination for a period of twelve (12) months
      thereafter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the McGrane Agreement, Mr. McGrane is prohibited from competing with the
      Company for a period of one year following the termination of his employment
      for
      any reason, and is also prohibited from soliciting any of the Company&#8217;s
      employees, customers or vendors during that period.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      McGrane Agreement incorporates without change Mr. McGrane&#8217;s</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Executive Change in Control Severance Agreement dated as of April 8,
      2004.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      In the
      event of a &#8220;Change in Control&#8221; of the Company, as that term is defined in the
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive
      Change in Control Severance Agreement, if</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Mr.
      McGrane&#8217;s employment is terminated by the Company without &#8220;Cause&#8221; or by Mr.
      McGrane with &#8220;Good Reason&#8221;, as those terms are defined in the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive
      Change in Control Severance Agreement</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      (and
      within the time periods provided)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Mr.
      McGrane will receive a lump sum cash payment equal to one year's annual base
      salary, plus </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      greater of the cash bonus paid to Mr. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">McGrane</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      in the
      preceding year pursuant to </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      Company&#8217;s bonus plan </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or
      his
      target bonus in effect at the time of the termination</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      plus
      the value of fringe benefits provided to him for the year prior to the Change
      in
      Control.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      copy of
      the McGrane Agreement is attached as Exhibit 10.61 to this Current Report on
      Form 8-K and is incorporated herein by reference. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>No
      Awards for fiscal year ended December 31, 2005, to Named Executive Officers
      under the Columbia Laboratories Inc. Incentive Plan.</strong></font></div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      material terms of the Columbia Laboratories, Inc. Incentive Plan (the &#8220;Plan&#8221;)
      are described in the Company's Current Report on Form 8-K, dated May 20, 2005,
      which description is incorporated herein by reference. For the fiscal year
      ended
      December 31, 2005, the Company&#8217;s Board of Directors declined to make any award
      under the Plan to the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Company&#8217;s
      named executive officers.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>2006
      Salaries and Target Bonuses of Named Executive Officers. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      March
      30, 2006, the Board of Directors of the Company determined the 2006 base
      salaries and target bonuses under the Plan for the Company&#8217;s named executive
      officers. Salaries and target bonuses for the Company&#8217;s President and Chief
      Executive Officer and Senior Vice President, General Counsel, and Secretary
      are
      established in their employment contracts described above. The following table
      sets forth the 2006 base salaries and target bonuses under the Plan for the
      Company&#8217;s named executive officers. The Company&#8217;s Board of Directors annually
      fixes specified financial and strategic performance goals for funding the
      incentive pool for each fiscal year ending December 31.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="34%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Named
                Executive Officer</font></div>
            </td>
            <td valign="top" width="10%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2006</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Base</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Salary</font></div>
            </td>
            <td valign="top" width="35%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2006
                Bonus</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Target
                (units)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>1</sup></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="34%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Robert
                S, Mills,</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">President
                &amp; Chief Executive Officer</font></div>
            </td>
            <td align="right" valign="top" width="10%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$340,000</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>2</sup></font></div>
            </td>
            <td align="left" valign="bottom" width="35%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">170,000
                (50% of base salary pursuant to employment agreement)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="34%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Michael
                McGrane, Senior Vice President, General Counsel, </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
                Secretary</font></div>
            </td>
            <td align="right" valign="top" width="10%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$279,500</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>2</sup></font></div>
            </td>
            <td align="left" valign="bottom" width="35%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">111,800
                (40% of base salary pursuant to employment agreement)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="34%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">David
                L. Weinberg, Vice President Finance, </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
                Financial Officer, and Treasurer</font></div>
            </td>
            <td align="right" valign="top" width="10%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$212,000</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>3</sup></font></div>
            </td>
            <td align="left" valign="bottom" width="35%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">63,600
                (30% of base salary pursuant to Columbia Laboratories, Inc. Incentive
                Plan)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>1</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Awards
      may be made in cash, stock options, or a combination thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>2</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Effective January 5, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>3</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Effective March 1, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.02</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Termination
      of a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      March
      30, 2006, the Company entered into the Mills Agreement with Robert S. Mills
      defining the terms of his employment with the Company as its President and
      Chief
      Executive Officer, effective January 5, 2006. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Mills
      Agreement provides that Mr. Mills&#8217; prior employment agreement with the Company,
      dated February 25, 2005, is terminated. The material terms of such prior
      employment agreement </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">are
      described in the Company's Current Report on Form 8-K, dated March 1, 2005,
      which description is incorporated herein by reference. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      material terms of the Mills Agreement are described in Item 1.01, which
      description is incorporated herein by reference. The Company will incur no
      material costs as a result of the early termination of the 2005 employment
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
      Statements and Exhibits</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibits.&#160;
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.60</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement by and between Columbia Laboratories, Inc. and Robert S.
                Mills
                dated March 30, 2006.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.61</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement by and between Columbia Laboratories, Inc. and Michael
                McGrane
                dated March 30, 2006.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 335.25pt">&#160;</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2006
                base salaries and incentive bonus targets for the Company&#8217;s named
                executive officers.</font></div>
            </td>
          </tr>

      </table>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">6</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>SIGNATURE</u></font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
      April 3, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><strong>COLUMBIA
              LABORATORIES, INC.</strong></font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td>&#160;</td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;David
              L.
              Weinberg</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: " size="1">&#160;</font></td>
            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">David
              L. Weinberg</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Vice
              President and Chief Financial Officer </font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="left"><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">7</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
      Index</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
                No.</strong></font></div>
            </td>
            <td valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="58%">&#160;</td>
          </tr>
          <tr>
            <td valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.60</font></div>
            </td>
            <td align="left" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement by and between Columbia Laboratories, Inc. and Robert S.
                Mills
                dated March 30, 2006.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="58%">&#160;</td>
          </tr>
          <tr>
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            </td>
            <td align="left" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement by and between Columbia Laboratories, Inc. and Michael
                McGrane
                dated March 30, 2006.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="22%">&#160;</td>
            <td align="left" valign="top" width="58%">&#160;</td>
          </tr>
          <tr>
            <td valign="top" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td align="left" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2006
                base salaries and incentive bonus targets for the Company&#8217;s named
                executive officers.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 50.4pt" align="left">&#160;</div>
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          <hr style="COLOR: black" noshade size="2">
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{"company-data": {"conformed-name": "COLUMBIA LABORATORIES INC", "cik": "0000821995", "assigned-sic": "2834", "irs-number": "592758596", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10352", "film-number": "06733451"}, "business-address": {"street1": "354 EISENHOWER PARKWAY", "city": "LIVINGSTON", "state": "NJ", "zip": "07039", "phone": "9739943999"}, "mail-address": {"street1": "354 EISENHOWER PARKWAY", "city": "LIVINGSTON", "state": "NJ", "zip": "07039"}}
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 - March 30, 2006
(Date
      of
      Earliest Event Reported)
COLUMBIA
      LABORATORIES, INC.
(Exact
      name of registrant as specified in its charter)
Commission
      File No. 1-10352
Delaware
59-2758596
(State
                of Incorporation)
(I.R.S.
                Employer
Identification
                No.)
354
                Eisenhower Parkway
Livingston,
                New Jersey
07039
(Address
                of principal
executive
                offices)
Zip
                Code
Registrant's
      telephone number, including area code: (973) 994-3999
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 (see General Instruction A.2. below):
o
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
o
Soliciting
      material pursuant to Rule 14a-12 under
      the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
      communications pursuant to Rule
      14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement
      communications pursuant to Rule
      13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
      1.01.
Entry
      into a Material Definitive Agreement.
Employment
      Agreement with Robert S. Mills.
On
      March
      30, 2006, Columbia Laboratories, Inc. (the "Company") entered into an employment
      agreement (the "Mills Agreement") with Robert S. Mills defining the terms of his
      employment with the Company as its President and Chief Executive Officer,
      effective January 5, 2006. The initial term of Mr. Mills' employment under the
      Mills Agreement is through March 31, 2008 (unless earlier terminated in
      accordance with the terms of the Mills Agreement), with automatic one-year
      renewals unless either party gives written notice of nonrenewal at least sixty
      (60) days prior to the end of the then current term. If the Company elects
      not
      to renew the Mills Agreement, it is obligated to pay severance equal to one
      year's base salary to Mr. Mills.
Pursuant
      to the Mills Agreement, Mr. Mills' annual base salary is $340,000 subject to
      annual review and, within the discretion of the Board of Directors, upward
      adjustment. Mr. Mills is eligible to receive a target annual bonus of 50% of
      his
      base salary, as then in effect, based upon the parameters and criteria contained
      in the Company's bonus plan and within the discretion of the Board of Directors.
      Mr. Mills' actual bonus award may be higher or lower than the target bonus
      amount based upon achievement of the objectives by Mr. Mills and the Company.
      Mr. Mills is also entitled to participate in the benefit programs generally
      available to Company employees.
Pursuant
      to the Mills Agreement, on March 30, 2006, Mr. Mills received a grant of 40,000
      shares of restricted Company common stock under the Company's
      1996 Long-term Performance Plan. The restrictions on the shares will lapse
      on the first business day of the calendar month following the Company's
      announcement of results of its Phase III multi-center, randomized, double-blind,
      placebo-controlled, clinical trial designed to assess the efficacy, safety
      and
      tolerability of Prochieve
®
8%
      (progesterone gel) in preventing preterm delivery in pregnant women who are
      at
      increased risk for preterm birth.
Mr.
      Mills
      has the right, under the Mills Agreement, to resign his employment for "Good
      Reason," as that term is defined in the Mills Agreement. The Company has the
      right, under the Mills Agreement, to terminate Mr. Mills' employment with or
      without "Cause," as that term is defined in the Mills Agreement.
Termination
      for Cause for certain act(s) or failure(s) to act would not take effect unless
      and until the Company gives Mr. Mills written notice of the Company's intention
      to terminate his employment for Cause, stating in detail the particular act(s)
      or failure(s) to act that constitute the grounds on which the proposed
      termination for Cause is based, and an opportunity to cure such conduct, if
      possible.
Pursuant
      to the Mills Agreement, Mr. Mills' employment with the Company will terminate
      upon his death or in the event he has a "Disability," as such term is defined in
      the Mills Agreement.
If
      Mr.
      Mills' employment is terminated by the Company without Cause or by Mr. Mills
      with Good Reason, the Mills Agreement provides for payment of Mr. Mills' base
      salary through the date of termination and a lump sum cash payment of one year's
      annual base salary plus
the
      greater of the amount of the cash bonus paid to Mr. Mills in the preceding
      year
      pursuant to
the
      Company's bonus plan
or
      his
      target bonus in effect at the time of the termination
.
      Mr.
      Mills will also be entitled to receive the medical and dental coverage in effect
      on the date of his termination for a period of twelve (12) months
      thereafter.
2
Pursuant
      to the Mills Agreement, Mr. Mills is prohibited from competing with the Company
      for a period of one year following the termination of his employment for any
      reason, and is also prohibited from soliciting any of the Company's employees,
      customers or vendors during that period.
The
      Mills
      Agreement incorporates without change Mr. Mills'
Executive
      Change in Control Severance Agreement dated as of April 8, 2004.
In the
      event of a "Change in Control" of the Company, as that term is defined in the
Executive
      Change in Control Severance Agreement, if
Mr.
      Mills' employment is terminated by the Company without "Cause" or by Mr. Mills
      with "Good Reason", as those terms are defined in the
Executive
      Change in Control Severance Agreement
(and
      within the time periods provided)
,
Mr.
      Mills will receive a lump sum cash payment equal to one year's annual base
      salary, plus
the
      greater of the cash bonus paid to Mr. Mills in the preceding year pursuant
      to
the
      Company's bonus plan
or
      his
      target bonus in effect at the time of the termination
,
      plus
      the value of fringe benefits provided to him for the year prior to the Change
      in
      Control.
A
      copy of
      the Mills Agreement is attached as Exhibit 10.60 to this Current Report on
      Form
      8-K and is incorporated herein by reference.
Employment
      Agreement with Michael McGrane.
On
      March
      30, 2006, the Company entered into an employment agreement (the "McGrane
      Agreement") with Michael McGrane defining the terms of his employment with the
      Company as its Senior Vice President, General Counsel, and Secretary, effective
      January 5, 2006. The initial term of Mr. McGrane's employment under the McGrane
      Agreement is through March 31, 2008
(unless
      earlier terminated in accordance with the terms of the McGrane
      Agreement)
,
      with
      automatic one-year renewals unless either party gives written notice of
      nonrenewal at least sixty (60) days prior to the end of the then current term.
      If the Company elects not to renew the McGrane Agreement, it is obligated to
      pay
      severance equal to one year's base salary to Mr. McGrane.
Pursuant
      to the McGrane Agreement, Mr. McGrane's annual base salary is $279,500 subject
      to annual review and, within the discretion of the Board of Directors, upward
      adjustment. Mr. McGrane is eligible to receive a target annual bonus of 40%
      of
      his base salary, as then in effect, based upon the parameters and criteria
      contained in the Company's bonus plan, within the discretion of the Board of
      Directors, and in consultation with the Company's President. Mr. McGrane's
      actual bonus award may be higher or lower than the target bonus amount based
      upon achievement of the objectives by Mr. McGrane and the Company. Mr. McGrane
      is also entitled to participate in the benefit programs generally available
      to
      Company employees.
3
Pursuant
      to the McGrane Agreement, on March 30, 2006, Mr. McGrane received a grant of
      30,000 shares of restricted Company common stock under the Company's
      1996 Long-term Performance Plan. The restrictions on the shares will lapse
      on the first business day of the calendar month following the Company's
      announcement of results of its Phase III multi-center, randomized, double-blind,
      placebo-controlled, clinical trial designed to assess the efficacy, safety
      and
      tolerability of Prochieve
®
8%
      (progesterone gel) in preventing preterm delivery in pregnant women who are
      at
      increased risk for preterm birth.
Mr.
      McGrane has the right, under the McGrane Agreement, to resign his employment
      for
      "Good Reason," as that term is defined in the McGrane Agreement. The Company
      has
      the right, under the McGrane Agreement, to terminate Mr. McGrane's employment
      with or without "Cause," as that term is defined in the McGrane Agreement.
Termination
      for Cause for certain act(s) or failure(s) to act would not take effect unless
      and until the Company gives Mr.
McGrane
written
      notice of the Company's intention to terminate his employment for Cause, stating
      in detail the particular act(s) or failure(s) to act that constitute the grounds
      on which the proposed termination for Cause is based, and an opportunity to
      cure
      such conduct, if possible
.
Pursuant
      to the McGrane Agreement, Mr. McGrane's employment with the Company will
      terminate upon his death or in the event he has a "Disability," as such term is
      defined in the McGrane Agreement.
.
If
      Mr.
      McGrane's employment is terminated by the Company without Cause or by Mr.
      McGrane with Good Reason, the McGrane Agreement provides for payment of Mr.
      McGrane's base salary through the date of termination and a lump sum cash
      payment of one year's annual base salary plus
the
      greater of the amount of the cash bonus paid to Mr.
McGrane
in the
      preceding year pursuant to
the
      Company's bonus plan
or
      his
      target bonus in effect at the time of the termination
.
      Mr.
      McGrane will also be entitled to receive the medical and dental coverage in
      effect on the date of his termination for a period of twelve (12) months
      thereafter.
Pursuant
      to the McGrane Agreement, Mr. McGrane is prohibited from competing with the
      Company for a period of one year following the termination of his employment
      for
      any reason, and is also prohibited from soliciting any of the Company's
      employees, customers or vendors during that period.
The
      McGrane Agreement incorporates without change Mr. McGrane's
Executive Change in Control Severance Agreement dated as of April 8,
      2004.
In the
      event of a "Change in Control" of the Company, as that term is defined in the
Executive
      Change in Control Severance Agreement, if
Mr.
      McGrane's employment is terminated by the Company without "Cause" or by Mr.
      McGrane with "Good Reason", as those terms are defined in the
Executive
      Change in Control Severance Agreement
(and
      within the time periods provided)
,
Mr.
      McGrane will receive a lump sum cash payment equal to one year's annual base
      salary, plus
the
      greater of the cash bonus paid to Mr.
McGrane
in the
      preceding year pursuant to
the
      Company's bonus plan
or
      his
      target bonus in effect at the time of the termination
,
      plus
      the value of fringe benefits provided to him for the year prior to the Change
      in
      Control.
4
A
      copy of
      the McGrane Agreement is attached as Exhibit 10.61 to this Current Report on
      Form 8-K and is incorporated herein by reference.
No
      Awards for fiscal year ended December 31, 2005, to Named Executive Officers
      under the Columbia Laboratories Inc. Incentive Plan.
The
      material terms of the Columbia Laboratories, Inc. Incentive Plan (the "Plan")
      are described in the Company's Current Report on Form 8-K, dated May 20, 2005,
      which description is incorporated herein by reference. For the fiscal year
      ended
      December 31, 2005, the Company's Board of Directors declined to make any award
      under the Plan to the
Company's
      named executive officers.
2006
      Salaries and Target Bonuses of Named Executive Officers.
On
      March
      30, 2006, the Board of Directors of the Company determined the 2006 base
      salaries and target bonuses under the Plan for the Company's named executive
      officers. Salaries and target bonuses for the Company's President and Chief
      Executive Officer and Senior Vice President, General Counsel, and Secretary
      are
      established in their employment contracts described above. The following table
      sets forth the 2006 base salaries and target bonuses under the Plan for the
      Company's named executive officers. The Company's Board of Directors annually
      fixes specified financial and strategic performance goals for funding the
      incentive pool for each fiscal year ending December 31.
Named
                Executive Officer
2006
Base
Salary
2006
                Bonus
Target
                (units)
1
Robert
                S, Mills,
President
                & Chief Executive Officer
$340,000
2
170,000
                (50% of base salary pursuant to employment agreement)
Michael
                McGrane, Senior Vice President, General Counsel,
and
                Secretary
$279,500
2
111,800
                (40% of base salary pursuant to employment agreement)
David
                L. Weinberg, Vice President Finance,
Chief
                Financial Officer, and Treasurer
$212,000
3
63,600
                (30% of base salary pursuant to Columbia Laboratories, Inc. Incentive
                Plan)
1
Awards
      may be made in cash, stock options, or a combination thereof.
2
Effective January 5, 2006
3
Effective March 1, 2006
Item
      1.02
Termination
      of a Material Definitive Agreement.
On
      March
      30, 2006, the Company entered into the Mills Agreement with Robert S. Mills
      defining the terms of his employment with the Company as its President and
      Chief
      Executive Officer, effective January 5, 2006.
The
      Mills
      Agreement provides that Mr. Mills' prior employment agreement with the Company,
      dated February 25, 2005, is terminated. The material terms of such prior
      employment agreement
are
      described in the Company's Current Report on Form 8-K, dated March 1, 2005,
      which description is incorporated herein by reference.
The
      material terms of the Mills Agreement are described in Item 1.01, which
      description is incorporated herein by reference. The Company will incur no
      material costs as a result of the early termination of the 2005 employment
agreement.
5
Item
      9.01
Financial
      Statements and Exhibits
(d)
Exhibits.
10.60
Employment
                Agreement by and between Columbia Laboratories, Inc. and Robert S.
                Mills
                dated March 30, 2006.
10.61
Employment
                Agreement by and between Columbia Laboratories, Inc. and Michael
                McGrane
                dated March 30, 2006.
99.1
2006
                base salaries and incentive bonus targets for the Company's named
                executive officers.
6
SIGNATURE
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.
Date:
      April 3, 2006
COLUMBIA
              LABORATORIES, INC.
By:
/s/ David
              L.
              Weinberg
David
              L. Weinberg
Vice
              President and Chief Financial Officer
7
Exhibit
      Index
Exhibit
                No.
Description
10.60
Employment
                Agreement by and between Columbia Laboratories, Inc. and Robert S.
                Mills
                dated March 30, 2006.
10.61
Employment
                Agreement by and between Columbia Laboratories, Inc. and Michael
                McGrane
                dated March 30, 2006.
99.1
2006
                base salaries and incentive bonus targets for the Company's named
                executive officers.
8