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Exhibit 10.31    
    

 
  SCIELE PHARMA, INC.    
    
    EXECUTIVES' COMPENSATION FOR 2007 SUMMARY SHEET    
    

	Name
	 	Position(2)
	 	Year
	 	Base Salary
	 	Targeted Bonus

	Patrick Fourteau	 	Chief Executive Officer	 	2007

2008	 	$
$	375,000

397,500	 	$
$	375,000

397,500
	Darrell Borne	 	Executive Vice President, Chief Financial Officer, Secretary and Treasurer	 	2007

2008	 	$
$	280,000

297,000	 	$
$	210,000

148,500
	Ed Schutter	 	President and Chief Operating Officer	 	2007

2008	 	$
$	280,000

325,000	 	$
$	125,000

260,000
	Larry Dillaha	 	Executive Vice President, Chief Medical Officer	 	2007

2008	 	$
$	240,000

260,000	 	$
$	120,000

130,000
	Leslie Zacks	 	Executive Vice President of Legal and Compliance	 	2007

2008	 	$
$	250,000

260,000	 	$
$	125,000

130,000

	(1)
	The
target bonus in discretionary and actual amounts paid may be more or less. In 2007, Fourteau, Borne, Schutter, Dillaha, and Zacks were paid bonuses of $375,000, $196,000,
$175,000, $120,000, $125,000, respectively.

	(2)
	All
executives have been granted Restricted Shares by the Company. The Restricted Shares vest under the Company's annual vesting policy of 25% annum unless granted under an incentive
based award plan. As of December 31, 2007, Fourteau, Borne, Schutter, Dillaha, and Zacks had vested and unvested shares of 779,250, 287,250, 110,750, 72,500, and 126,375, respectively. 

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Exhibit 10.31

SCIELE PHARMA, INC. EXECUTIVES' COMPENSATION FOR 2007 SUMMARY SHEETQuickLinks
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Exhibit 10.32    
    

 
 

SCIELE PHARMA, INC.    
    
    DIRECTORS' COMPENSATION FOR 2007 SUMMARY SHEET    
    

	Annual Board Retainer	 	2007

2008	 	$
$	30,000

30,000
	

Annual Board Chairmanship Retainer	
 	

2007

2008	
 	
$
$	

10,000

15,000
	

Nomination/Corporate Governance Committee Chairmanship Retainer	
 	

2007

2008	
 	
$
$	

15,000

5,000
	

Audit Committee Chairmanship Retainer	
 	

2007

2008	
 	
$
$	

15,000

10,000
	

Compensation Committee Chairmanship Retainer	
 	

2007

2008	
 	
$
$	

15,000

7,500
	

Mergers & Acquisition Committee Chairmanship Retainer	
 	

2007

2008	
 	
$
$	

15,000

5,000
	

Board and Committee Meeting Fee (In Person Meeting)	
 	

2007

2008	
 	
$
$	

2,000

2,000
	

Audit Committee Accounting Expert Retainer	
 	

2007

2008	
 	
$
$	

10,000

10,000

In
2007, in addition to the base compensation, each director who was not a employee was granted 10,000 restricted shares. 

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Exhibit 10.32

SCIELE PHARMA, INC. DIRECTORS' COMPENSATION FOR 2007 SUMMARY SHEETQuickLinks
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EXHIBIT 10.25    
    

SECOND
AMENDMENT TO LEASE 

        THIS
SECOND AMENDMENT TO LEASE (this "Amendment") is made as of the 18th day of November, 2005 (the "Second Amendment Date"), by and between THE REALTY ASSOCIATES FUND
VI, L.P., a Delaware limited partnership ("Landlord") and CUBIST PHARMACEUTICALS, INC., a Delaware corporation ("Tenant"). 

RECITALS:

        WHEREAS,
by a lease (the "Original Lease") dated as of January, 2004, California State Teachers' Retirement System ("Calsters") leased to Tenant approximately 15,475 rentable square feet
of space, consisting of a portion of the second and fourth floors in the building known as 45-55 Hayden Avenue, Lexington, Massachusetts (the "Building"); and 

        WHEREAS,
Landlord has succeeded to the interests of Calsters as landlord under the Lease; and 

        WHEREAS,
the Original Lease has been amended by a First Amendment to Lease between Landlord and Tenant, dated as of September 29, 2005 (the "First Amendment;" the Original Lease,
as so amended, being referred to as the "Lease"), pursuant to which the size of the premises demised under the Original Lease was increased to 46,928 rentable square feet (the "Existing Premises");
and 

        WHEREAS,
Landlord and Tenant now desire to further amend the Lease to, among other things, temporarily expand the size of the Existing Premises by adding thereto approximately 6,150
rentable square feet of space on the second floor of the Building (the "Comet Space"), and to temporarily adjust the rent and certain provisions, and to provide an option for the Tenant to lease the
Comet Space for a longer term, all on the terms and conditions set forth below. 

        NOW,
THEREFORE, in consideration of the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
and intending to be legally bound hereby, Landlord and Tenant hereby agree as follows: 

	1.
	Defined Terms.    All of the foregoing recitals are true and correct. Unless otherwise defined herein, all capitalized terms
used in this Amendment shall have the meanings ascribed to them in the Lease, the Lease shall be amended to incorporate any additional definitions provided for in this Amendment, and all references in
the Lease to the "Lease" or "this Lease" or "herein" or "hereunder" or similar terms or to any section thereof shall mean the Lease, or such section thereof, as amended by this Amendment.

	2.
	Additional Terms and Definitions.    (a) From and after the Effective Date (as defined below) and continuing through
11:59 p.m. on May 31, 2006 (the "Comet Expansion Period"), the 

 

following
terms set forth in "Article 1 Reference Data" of the Lease are hereby amended to have the following meanings: 

	PREMISES:	 	The space in the Building, including the entire fourth floor and the space located on the second floor of the 55 Hayden Avenue portion of the Building, as shown on Exhibit A-2 attached hereto and incorporated herein.
	

RENTABLE FLOOR AREA OF THE PREMISES:	
 	

Approximately 53,078 square feet, of which 40,173 square feet consists of the entire fourth floor of the 55 Hayden Avenue portion of the Building and 12,905 square feet are located on the second floor of the Building.
	

ANNUAL RENT:	
 	

The Annual Rent payable under the Lease shall be as set forth on Schedule I to the First Amendment, plus $11,787.50 per month from December 1, 2005 through May 31, 2006 for the Comet Space.

	3.
	Effective Date; Delivery and Condition.    (a) Tenant may commence occupancy of the Comet Space on the Effective Date. For the
purposes of this Amendment, the "Effective Date" shall be the later to occur of (i) December 1, 2005 and (ii) the date on which the existing tenant vacates the Comet Space and
Landlord delivers possession thereof to Tenant.

	(b)
	Tenant
acknowledges that, except as explicitly provided in the Lease, it is leasing the Comet Space during the Comet Expansion Period (as the same may be extended as provided below)
in its current AS IS condition, without any representation or warranty whatsoever on the part of Landlord. Tenant currently occupies the Existing Premises and is fully familiar with their condition
and that of the common areas of the Building, and Tenant acknowledges that, to the best of Tenant's knowledge (upon reasonable investigation and inquiry), the Existing Premises and the Comet Space are
in good condition and suitable for Tenant's uses. Without limiting the foregoing, Tenant agrees that Landlord has no obligation to perform any work in or to either the Existing Premises or the Comet
Space to prepare the same for Tenant's continued use and occupancy.

	(c)
	During
the Comet Expansion Period (as such period may be extended hereunder), Tenant shall have, as appurtenant to the Comet Space, the right to use the furniture, furnishings,
fixtures, equipment and tenant improvements located in the Comet Space as of the date hereof and belonging to Landlord, including without limitation (i) all telephone and data communications
wiring, switches and cabling, and (ii) all furniture listed on Schedule 1 attached hereto and made a part hereof (together, the "Equipment"). Tenant shall keep the Equipment in good and
workable condition, reasonable wear and tear excepted, but shall have no obligation to make repairs, perform maintenance thereon or replace the same, other than reasonable and  de minimus repairs and
maintenance, as determined as necessary by Tenant. Except as provided below, the Equipment shall be covered under Landlord's
property insurance, and any insurance proceeds on account of the Equipment shall be payable to Landlord. At the expiration or earlier termination of the Comet Expansion Period, the Equipment shall be
surrendered to Landlord in its existing 

2

 

condition,
reasonable wear and tear excepted; provided, that, if Tenant extends the lease of the Comet Space pursuant to Section 6 below, all
right, title and interest in the Equipment shall be transferred to Tenant, and Landlord shall promptly execute all documentation necessary to effect such transfer. From and after such transfer, the
Equipment shall be covered under Tenant's property insurance, and any insurance proceeds on account of the Equipment shall be payable to Tenant. 

	4.
	Right of First Offer.    From and after the Second Amendment Date,  Exhibit G-1 (Right of First Offer)
to the Lease is hereby amended by deleting the schedule of Rights of Existing Building Tenants in
its entirety and replacing the same with Schedule 2 attached hereto.

	5.
	Parking.    During the Comet Expansion Period (as the same may be extended), Section 10.19 of the Lease shall be
amended by, in the first sentence thereto:

	(a)
	Replacing
"one hundred and forty-one (141)" with "one hundred fifty-nine (159);" and

	(b)
	Replacing
"46,928" with "53,078."

	6.
	Extension Option.    Provided that, at the time of such exercise and also at May 31, 2006, (i) the Lease is
still in full force and effect, and (ii) there exists no Event of Default, Tenant shall have the right to maintain the Comet Space beyond the Comet Expansion Period as a part of the Premises
and the Rentable Floor Area of the Premises for the then remainder of the Term of the Lease, on all of the terms and conditions set forth in the Lease, except that the Total Annual Rent for the Comet
Space shall be as follows, and such amounts shall be added to the amounts otherwise payable under the Lease pursuant to Schedule I of the First Amendment: 

	RENTAL PERIOD
 
	 	TOTAL ANNUAL RENT
	 	MONTHLY PAYMENT
	 	RENTAL RATE/SF

	6/1/06—4/30/07	 	$	140,415.00	 	$	11,787.50	 	$	23.00
	

5/1/07—4/30/08	
 	
$	

144,525.00	
 	
$	

12,043.75	
 	
$	

23.50
	

5/1/08—4/30/09	
 	
$	

147,600.00	
 	
$	

12,300.00	
 	
$	

24.00
	

5/1/09—4/30/10	
 	
$	

155,287.50	
 	
$	

12,940.63	
 	
$	

25.25
	

5/1/10—4/30/11	
 	
$	

158,362.50	
 	
$	

13,196.88	
 	
$	

25.75
	

5/1/11—4/30/12	
 	
$	

161,437.50	
 	
$	

13,453.13	
 	
$	

26.25
	

5/1/12—4/30/13	
 	
$	

166,050.00	
 	
$	

13,837.50	
 	
$	

27.00
	

5/1/13—4/30/14	
 	
$	

173,737.50	
 	
$	

14,478.13	
 	
$	

28.25
	

5/1/14—4/30/15	
 	
$	

181,425.00	
 	
$	

15,118.75	
 	
$	

29.50
	

5/1/15—4/30/16	
 	
$	

186,037.50	
 	
$	

15,503.13	
 	
$	

30.25

Tenant
shall exercise such option to extend the Comet Expansion Period by giving written notice to Landlord not later than February 28, 2006. The giving of such notice by Tenant shall
automatically and irrevocably extend the inclusion of the Comet Space as part of the Premises and the Rentable Floor Area of the Premises for the then remainder of the Term of the Lease, and no
instrument of renewal need be executed. In the event that Tenant fails to give such notice to Landlord, the Comet Expansion Period shall automatically terminate on May 31, 2006, and Tenant
shall have no further right or option to extend the Comet Expansion Period, it being agreed that time shall be of the essence in the giving of such notice; provided,
that, Tenant shall maintain its rights throughout the Term of the Lease to the Comet Space pursuant to the Right of First Offer detailed in Exhibit G-1 to
the Lease. 

3

 

Without
limiting any other provisions of the Lease, Tenant expressly agrees that Landlord may have reasonable access to the Comet Space from and after January 1, 2006 (but only prior to
Tenant's exercise of the foregoing extension option) for the purpose of showing the same to prospective tenants upon reasonable notice to Tenant (which need not be in writing). If Tenant does not duly
exercise its option to extend the Comet Expansion Period, then on or before 11:59 p.m. on May 31, 2006, Tenant shall surrender and deliver the Comet Space to Landlord in accordance with
applicable provisions of the Lease, including without limitation Section 6.1.2 thereof. 

	7.
	Brokers.    Tenant covenants, represents and warrants to Landlord that Tenant has had no dealings or communications with any
broker or agent (other than Grubb & Ellis Company and Richards Barry Joyce & Partners) in connection with this Amendment, and Tenant covenants and agrees to pay, hold harmless and
indemnify the Landlord from and against any and all cost, expense (including reasonable attorneys' fees) or liability for any compensation, commission or charges to any broker or agent (other than the
foregoing named brokers) claiming through the Tenant with respect hereto.

	8.
	Exhibits.    During the Comet Expansion Period (as the same may be extended), Exhibit A-2 attached hereto is hereby substituted for Exhibit A-1 to the Lease. All
references in the Lease to Exhibit A-1 shall be replaced by references to Exhibit A-2.

 
	9.
	 Successors.    This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns,
subject to the provisions of the Lease regarding assignment or other transfers of each party's rights under the Lease.

	10.
	Authority.    Each party represents and warrants to the other that each person executing this Amendment on behalf of such
party has the authority to do so and that such execution has fully obligated and bound such party to all terms and provisions of this Amendment.

	11.
	No Further Amendment.    It is understood and agreed that all other conditions and terms contained in the Lease not herein
specifically amended shall remain unmodified and in full force and effect, and the Lease, as modified by this Amendment, is hereby ratified and confirmed. At the end of the Comet Expansion Period,
unless Tenant has exercised its right to extend the lease of the Comet Space beyond the Comet Expansion Period pursuant to Section 6 hereof, the Lease shall revert to the terms and conditions
thereof that existed immediately prior to the Second Amendment Date, other than Exhibit G-1, which shall remain as amended by Section 4 and Schedule 2 hereto.

	12.
	Tenant Representations.    As a material inducement to Landlord entering into this Amendment, Tenant represents and certifies
to Landlord that as of the date hereof: (i) the Lease, as modified hereby, contains the entire agreement between the parties hereto relating to the Premises and that, except for that certain
Amended and Restated Declaration of Covenants and Easements between the Landlord's predecessor in title with respect to the Building and Tenant, as amended to date (the "Declaration") there are no
other agreements between the parties relating to the Premises, the Building or the Lease which are not contained or referred to herein or in the Lease, (ii) to the best of Tenant's knowledge,
Landlord is not in default (continuing beyond the expiration of any applicable notice or grace periods) in any respect in any of the terms, covenants and conditions of the Lease; (iii) Tenant
has no existing setoffs, counterclaims or defenses against Landlord under the Lease; (iv) Tenant has not assigned or pledged its leasehold interest under the Lease, or sublet or licensed or
granted any other occupancy rights with respect to any or all of the Premises; (v) no consent or approval of any third party or parties is required in order for Tenant to enter into and be
bound by this Amendment; and (vi) Tenant is not, and the performance by Tenant of its obligations 

4

 

hereunder
shall not render Tenant, insolvent within the meaning of the United States Bankruptcy Code, the Internal Revenue Code or any other applicable law, code or regulation. 

	13.
	Landlord Representations.    As a material inducement to Tenant entering into this Amendment, Landlord represents and
certifies to Tenant that as of the date hereof: (i) the Lease, as modified hereby, contains the entire agreement between the parties hereto relating to the Premises and that, except for the
Declaration, there are no other agreements between the parties relating to the Premises, the Building or the Lease which are not contained or referred to herein or in the Lease, (ii) to the
best of Landlord's knowledge, there exists no Event of Default on the part of Tenant in any respect in any of the terms, covenants and conditions of the Lease; and (iii) no consent or approval
of any third party or parties is required in order for Landlord to enter into and be bound by this Amendment.

	14.
	Governing Law.    The Lease, this Amendment and the rights and obligations of both parties thereunder and hereunder shall be
governed by the laws of The Commonwealth of Massachusetts.

	15.
	Counterparts.    This Amendment may be executed in counterparts, each of which shall be an original and all of which
counterparts taken together shall constitute one and the same instrument. 

5

 

        IN
WITNESS WHEREOF, the undersigned have hereunto se their hands and seals as of the date first above written. 

	 	LANDLORD:
	

 	

The Realty Associates Fund VI, L.P.,

a Delaware limited partnership
	

 	

By:	

Realty Associates Fund VI LLC,

a Massachusetts limited liability company,

general partner
	

 	

 	

By:	

Realty Associates Advisors LLC, a Delaware

limited liability company, Manager
	

 	

 	

 	

By:	

Realty Associates Advisors Trust, a

Massachusetts business trust, sole member
	

 	

 	

 	

By:	

/s/ Heather Hohenthal

	 	 	 	Name: Heather Hohenthal

Title: Regional Director
	

 	

By:	

Realty Associates Fund VI Texas Corporation,

a Texas corporation, general partner
	

 	

 	

By:	

/s/ Heather Hohenthal

	 	 	Name: Heather Hohenthal

Title: Regional Director
	

 	

TENANT:
	

 	

CUBIST PHARMACEUTICALS, INC.
	

 	

By:	

/s/ David W.J. McGirr

	 	 	Name: David W.J. McGirr

Title: Senior Vice President and Chief Financial Officer

6

 

  
Exhibit A-2 

[Floor
Plans] 

EXHIBIT
A

PREMISES PLAN

2nd Floor, 55 Hayden Avenue 

7

 

SCHEDULE
1

List of Equipment 

Reception Area:  

2
Chairs

1 small table 

Board Room, Main:  

Conference
table

Credenza

6 hi-back conference chairs

Whiteboard, wall-mounted

Easel 

Conference Room—first office  

Conference
table, rectangular

Credenza

Whiteboard, wall-mounted

4 chairs

4-drawer vertical file 

Conference Area—front of office  

Round
table

4 chairs 

Offices (5):  

U-shaped
work surface

3-drawer file

Chair

Bookcase 

Cubicles 8x8 (19) wired for electric and data:  

L-shaped
Work surface

3-drawer vertical file

2-drawer lateral file

Bookshelf

Overhead bin 

Kitchen:  

Refrigerator
with freezer

Microwave

Toaster oven

Small round table

3 chairs

2 rectangular tables 

8

 

Miscellaneous:  

Bookcases,
various sizes: 6

4-drawer lateral files: 1

2-door cabinet: 1

Computer racks: 5

Round table

Rectangular table

Various size cubicle walls to make additional cubes: 14

Small round tables on wheels: 3

Assorted office supplies 

9

 
SCHEDULE
2 

RIGHTS
OF EXISTING BUILDING TENANTS 

	 
	 	 

	Celerant	 	Option to Extend
	8,017 sf—2nd Fl (45)

Expiration 8/31/07	 	One 5 year term (thru August 31, 2012); 12 mos. notice prior to expiration of current term required
	
Summit Mortgage	
 	

Option to Extend
	2,805 sf—2nd Fl (45)

Expiration 2/28/09	 	One 5 year term (thru February 28, 2014); 9 mos. notice prior to expiration of current term required
	
Motorola	
 	

Option to Extend
	25,405 sf—2nd Fl (45)

30,019 sf—3rd Fl (55)

Expiration 4/30/07	 	One 3 year term (thru April 30, 2010); 9 mos. notice prior to expiration of current term required
	
Goodrich, LLC	
 	

Option to Extend
	10,495 sf—3rd Fl (55)

Expiration 11/30/09	 	One 7 year term (thru November 30, 2016); 12 mos. notice prior to expiration of current term required
	
Aon Consulting	
 	

Option to Extend
	5,528 sf—2nd Fl (45)

Expiration 7/31/06	 	One 5 year term (thru July 31, 2011); 12 mos. notice prior to expiration of current term required
	
Spaulding and Slye	
 	

Option to Extend
	14,092 sf—2nd Fl (55)

Expiration 3/31/15	 	Two extension of 5 year terms (thru March 31, 2020 and March 31, 2025, respectively); each on 9 mos. notice prior to expiration of current term required
	
Spaulding and Slye	
 	

First Right to Lease
	 	 	During the term of Spaulding and Slye's lease to the 14,092 sf on the 2nd floor of the 55 Hayden Avenue portion of the Building, Spaulding and Slye holds a first right to lease the following spaces in the
Building:
	 	 	• 8,017 sf—2nd Fl (45) (Celerant space)
	 	 	• 2,805 sf—2nd Fl (45) (Summit Mortgage space)
	 	 	• 5,528 sf—2nd Fl (45) (Aon Consulting space)
	 	 	• 3,089 sf—2nd Fl (45) (FCG space)
	 	 	Spaulding and Slye must respond to the Landlord's notice of any such space becoming available within 14 days of such notice.

10

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EXHIBIT 10.25

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