PACIRA PHARMACEUTICALS, INC. Stack Pharmaceuticals, Inc. Services Agreement
Exhibit 10.20
Stack Pharmaceuticals, Inc. Services Agreement
This Service Agreement (the “Agreement”) is entered into effect as of September 15, 2010 (the “Effective Date”) between PACIRA PHARMACEUTICALS, INC. (the “Company”), a Delaware corporation with its principal offices at 00000 Xxxxxxx Xxxxxx Xxxxx, Xxx Xxxxx, Xxxxxxxxxx 00000, and Stack Pharmaceuticals, Inc. (“Stack”), a Delaware corporation with its principal offices at 0 Xxxxxx Xxx, Xxxxxxxxxx, Xxx Xxxxxx 00000.
RECITALS
WHEREAS the Company desires use of the offices of Stack Pharmaceuticals for the support of commercialization and development of the Company’s health care assets upon the terms and conditions set forth below.
The parties further acknowledge and agree that retroactive to May 1, 2009, the Company has paid Stack Pharmaceuticals $10,500, on a monthly basis for services under this agreement and that such monthly payment represents the entire payment obligation of the Company and that the company obligations under the Agreement have been fully paid as of the effective date.
Services to be Provided by Stack Pharmaceuticals, Inc.
| • | Furnished office workspace for nine Pacira employees on a 60%-100% allocation of time basis of a 40 hr workweek |
| • | Use of conference rooms for meetings |
| • | Use of the kitchen |
| • | Use of phone system |
| • | Use of printers |
| • | Fax and wireless and wired high speed internet connection |
Service Costs
Company shall pay Stack Pharmaceuticals, Inc., $10,500 per month for the services provided. Each month shall be paid by the first day of the month in which services are to be provided.
Term
The term of this agreement shall be one year renewable upon consent of both parties.
Complete Agreement
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and may not be modified or amended except in writing by both parties. This agreement supersedes any prior agreement.
Governing Law
This Agreement shall be governed by and construed in accordance with the laws of The State of New Jersey, without regard to its conflicts of law provisions.
Notices
Any notice to be given hereunder shall be in writing, mailed
to PACIRA PHARMACEUTICALS:
00000 Xxxxxxx Xxxxxx Xxxxx
Xxx Xxxxx, Xxxxxxxxxx 00000
Attn: Xxxxx Xxxxxxxx
and to STACK
Stack Pharmaceuticals, Inc.
0 Xxxxxx Xxx
Xxxxxxxxxx, Xxx Xxxxxx 00000
Attn: Xxxx Xxxx
Or to such other address as may have been furnished at the date of mailing or emailing either by PACIRA PHARMACEUTICALS or Stack in writing
IN WITNESS WHEREOF, the Company and Stack have duly executed and delivered this Agreement as of September 16, 2010.
| PACIRA PHARMACEUTICALS, INC. | ||
| By: |
/s/ Xxxxx Xxxxxxxx | |
| Name: |
Xxxxx Xxxxxxxx | |
| Title: |
CFO | |
| STACK PHARMACEUTICALS, INC | ||
| By: |
/s/ Xxxx X. Xxxx | |
| Names: |
Xxxx X. Xxxx | |
