Document:

Guaranty Agreement, dated April 30, 2010

  
 Execution Copy

 Exhibit 10.31 
 GUARANTY 
 This GUARANTY (this “Guaranty”), dated
as of April 30, 2010, by and between PACIRA, INC, a Delaware corporation (“Guarantor”) and GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation, individually and as agent (in such capacity and together with any
successors, endorsees and assigns, “Agent”) for itself and the lenders from time to time party to the Loan Agreement hereinafter defined (collectively, the “Lenders”). 

W I T N E S S E T H : 

WHEREAS, pursuant to that certain Loan and Security Agreement (the “Loan Agreement”) dated as of the date hereof
(including all annexes, exhibits and schedules thereto, as from time to time amended, restated, supplemented or otherwise modified, the “Loan Agreement”) by and among PACIRA PHARAMACEUTICALS, INC, a California corporation
(“Borrower”), the other Loan Parties party thereto, the Lenders and Agent, the Lenders have severally agreed to make extensions of credit to Borrower upon the terms and subject to the conditions set forth therein; and 

WHEREAS, Guarantor is the direct parent of Borrower and as such will derive direct and indirect economic benefits from the making of the
Term Loans and other financial accommodations provided to Borrower pursuant to the Loan Agreement. 
 NOW, THEREFORE, in
consideration of the premises and the mutual covenants herein contained, and to induce the Lenders and the Agent to enter into the Loan Agreement and to induce the Lenders to make their respective extensions of credit to Borrower thereunder, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed as follows: 
  

	1.	DEFINITIONS. 

 (a)
Capitalized terms used herein shall have the meanings assigned to them in the Loan Agreement, unless otherwise defined herein. 

(b) References to this “Guaranty” shall mean this Guaranty, including all amendments, modifications and supplements and any
annexes, exhibits and schedules to any of the foregoing, and shall refer to this Guaranty as the same may be in effect at the time such reference becomes operative. 
  

	2.	THE GUARANTY. 

2.1. Guaranty of Guaranteed Obligations of Borrower. Guarantor hereby unconditionally guarantees to Agent and Lenders, and
their respective successors, endorsees, transferees and assigns, the prompt payment (whether at stated maturity, by acceleration or otherwise) and performance of the Obligations of Borrower (hereinafter the “Guaranteed
Obligations”). Guarantor agrees that this Guaranty is a guaranty of payment and performance and not of collection, and that its obligations under this Guaranty shall be primary, absolute and unconditional, irrespective of, and unaffected
by: 

  
 (a)
the genuineness, validity, regularity, enforceability or any future amendment of, or change in this Guaranty, any other Debt Document or any other agreement, document or instrument to which any Loan Party and/or Guarantor is or may become a party;

 (b) the absence of any action to enforce this Guaranty or any other Debt Document or the waiver or consent by
Agent and/or Lenders with respect to any of the provisions thereof; 
 (c) the existence, value or condition of,
or failure to perfect its lien against, any Collateral for the Guaranteed Obligations or any action, or the absence of any action, by Agent in respect thereof (including, without limitation, the release of any such security); 

(d) the insolvency of any Loan Party; or 

(e) any other action or circumstances which might otherwise constitute a legal or equitable discharge or defense of a
surety or guarantor, 
 it being agreed by Guarantor that its obligations under this Guaranty shall not be discharged until the Termination
Date. Guarantor shall be regarded, and shall be in the same position, as principal debtor with respect to the Guaranteed Obligations. Guarantor agrees that any notice or directive given at any time to Agent which is inconsistent with the waiver in
the immediately preceding sentence shall be null and void and may be ignored by Agent and Lenders, and, in addition, may not be pleaded or introduced as evidence in any litigation relating to this Guaranty for the reason that such pleading or
introduction would be at variance with the written terms of this Guaranty, unless Agent and Lenders have specifically agreed otherwise in writing. It is agreed among Guarantor, Agent and Lenders that the foregoing waivers are of the essence of the
transaction contemplated by the Debt Documents and that, but for this Guaranty and such waivers, Agent and Lenders would decline to enter into the Loan Agreement. 
 2.2. Demand by Agent or Lenders. In addition to the terms of the Guaranty set forth in Section 2.1 hereof, and in no manner imposing any limitation on such terms, it is
expressly understood and agreed that, if, at any time, the outstanding principal amount of the Guaranteed Obligations under the Loan Agreement (including all accrued interest thereon) is declared to be immediately due and payable in accordance with
the terms thereof, then Guarantor shall, without demand, pay to the holders of the Guaranteed Obligations the entire outstanding Guaranteed Obligations due and owing to such holders. Payment by Guarantor shall be made to Agent in immediately
available federal funds to an account designated by Agent or at the address set forth in the Loan Agreement for the giving of notice to Agent or at any other address that may be specified in writing from time to time by Agent, and shall be credited
and applied to the Guaranteed Obligations. 
 2.3. Enforcement of Guaranty. In no event shall Agent have any
obligation (although it is entitled, at its option) to proceed against Borrower or any other Loan Party or any Collateral pledged to secure Guaranteed Obligations before seeking satisfaction from the Guarantor, and Agent may proceed, prior or
subsequent to, or simultaneously with, the 

 
enforcement of Agent’s rights hereunder, to exercise any right or remedy which it may have against any Collateral, as a result of any lien it may have as security for all or any portion of
the Guaranteed Obligations. 
 2.4. Waiver. In addition to the waivers contained in Section 2.1
hereof, Guarantor waives, and agrees that it shall not at any time insist upon, plead or in any manner whatever claim or take the benefit or advantage of, any appraisal, valuation, stay, extension, marshaling of assets or redemption laws, or
exemption, whether now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance by Guarantor of its Guaranteed Obligations under, or the enforcement by Agent or Lenders of, this Guaranty. Guarantor hereby
waives diligence, presentment and demand (whether for non-payment or protest or of acceptance, maturity, extension of time, change in nature or form of the Guaranteed Obligations, acceptance of further security, release of further security,
composition, or agreement arrived at as to the amount of, or the terms of, the Guaranteed Obligations, notice of adverse change in Borrower’s financial condition or any other fact which might increase the risk to Guarantor) with respect to any
of the Guaranteed Obligations or all other demands whatsoever and waives the benefit of all provisions of law which are or might be in conflict with the terms of this Guaranty. Guarantor represents, warrants and agrees that, as of the date of this
Guaranty, its obligations under this Guaranty are not subject to any counterclaims, offsets or defenses against Agent or Lenders or any Loan Party of any kind. Guarantor further agrees that its obligations under this Guaranty shall not be subject to
any counterclaims, offsets or deductions of any kind against Agent or any Lender or against any Loan Party of any kind which may arise in the future. 
 2.5. Benefit of Guaranty. The provisions of this Guaranty are for the benefit of Agent and Lenders and their respective successors, transferees, endorsees and assigns (in each case, to the
extent such transfer or assignment is made in accordance with the Loan Agreement), and nothing herein contained shall impair, as between any Loan Party and Agent or Lenders, the obligations of any Loan Party under the Debt Documents. In the event
all or any part of the Guaranteed Obligations are transferred, indorsed or assigned by Agent or any Lender to any person or entity, any reference to “Agent” or “Lender” herein shall be deemed to refer equally to such person or
entity. 
 2.6. Modification of Guaranteed Obligations, Etc. Guarantor hereby acknowledges and agrees that Agent
and Lenders may at any time or from time to time, with or without the consent of, or notice to, Guarantor: 

(a) change or extend the manner, place or terms of payment of, or renew or alter all or any portion of, the Guaranteed
Obligations; 
 (b) take any action under or in respect of the Debt Documents in the exercise of any remedy,
power or privilege contained therein or available to it at law, equity or otherwise, or waive or refrain from exercising any such remedies, powers or privileges; 

(c) amend or modify, in any manner whatsoever, the Debt Documents; 

(d) extend or waive the time for any Loan Party’s performance of; or

 
compliance with, any term, covenant or agreement on its part to be performed or observed under the Debt Documents, or waive such performance or compliance or consent to a failure of, or departure
from, such performance or compliance; 
 (e) take and hold Collateral for the payment of the Guaranteed
Obligations guaranteed hereby or sell, exchange, release, dispose of, or otherwise deal with, any property pledged, mortgaged or conveyed, or in which Agent or Lenders have been granted a lien, to secure any Obligations; 

(f) release anyone who may be liable in any manner for the payment of any amounts owed by Guarantor or any Loan Party to
Agent or any Lender; 
 (g) modify or terminate the terms of any intercreditor or subordination agreement
pursuant to which claims of other creditors of Guarantor or any Loan Party are subordinated to the claims of Agent and Lenders; and/or 
 (h) apply any sums by whomever paid or however realized to any amounts owing by Guarantor or any Loan Party to Agent or any Lender in such manner as Agent or any Lender shall determine in its discretion;

 and Agent and Lenders shall not incur any liability to Guarantor as a result thereof, and no such action shall impair or release the
Guaranteed Obligations of Guarantor under this Guaranty. 
 2.7. Reinstatement. This Guaranty shall remain in full
force and effect and continue to be effective should any petition be filed by or against any Loan Party or Guarantor for liquidation or reorganization, should any Loan Party or Guarantor become insolvent or make an assignment for the benefit of
creditors or should a receiver or trustee be appointed for all or any significant part of such Loan Party’s or Guarantor’s assets, and shall continue to be effective or be reinstated, as the case may be, if at any time payment and
performance of the Guaranteed Obligations, or any part thereof, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by Agent or any Lender, whether as a “voidable preference”,
“fraudulent conveyance”, or otherwise, all as though such payment or performance had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned, the Guaranteed Obligations shall be
reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 
 2.8.
Waiver of Subrogation, Etc. Notwithstanding anything to the contrary in this Guaranty, or in any other Debt Document, Guarantor hereby: 
 (a) expressly and irrevocably waives, on behalf of itself and its successors and assigns (including any surety), any and all rights at law or in equity to subrogation, to reimbursement, to exoneration, to
contribution, to indemnification, to set off or to any other rights that could accrue to a surety against a principal, to a guarantor against a principal, to a guarantor against a maker or obligor, to an accommodation party against the party
accommodated, to a holder or transferee against a maker, or to the holder of any claim against any person or entity, and which Guarantor may have or hereafter acquire against any Loan Party in connection with or as a result of Guarantor’s

 
execution, delivery and/or performance of this Guaranty, or any other documents to which Guarantor is a party or otherwise; and 

(b) acknowledges and agrees (i) that this waiver is intended to benefit Agent and Lenders and shall not limit or
otherwise affect Guarantor’s liability hereunder or the enforceability of this Guaranty, and (ii) that Agent, Lenders and their respective successors and assigns are intended third party beneficiaries of the waivers and agreements set
forth in this Section 2.8 and their rights under this Section 2.8 shall survive payment in full of the Guaranteed Obligations. 
 2.9. Election of Remedies. If Agent may, under applicable law, proceed to realize benefits under any of the Debt Documents giving Agent and Lenders a lien upon any Collateral owned by any
Loan Party, either by judicial foreclosure or by non-judicial sale or enforcement, Agent may, at its sole option, determine which of such remedies or rights it may pursue without affecting any of such rights and remedies under this Guaranty. If, in
the exercise of any of its rights and remedies, Agent shall forfeit any of its rights or remedies, including its right to enter a deficiency judgment against any Loan Party, whether because of any applicable laws pertaining to “election of
remedies” or the like, Guarantor hereby consents to such action by Agent and waives any claim based upon such action, even if such action by Agent shall result in a full or partial loss of any rights of subrogation which Guarantor might
otherwise have had but for such action by Agent. Any election of remedies which results in the denial or impairment of the right of Agent to seek a deficiency judgment against any Loan Party shall not impair Guarantor’s obligation to pay the
full amount of the Guaranteed Obligations. In the event Agent shall bid at any foreclosure or trustee’s sale or at any private sale permitted by law or the Debt Documents, Agent may bid all or less than the amount of the Guaranteed Obligations
and the amount of such bid need not be paid by Agent but shall be credited against the Guaranteed Obligations. The amount of the successful bid at any such sale shall be conclusively deemed to be the fair market value of the collateral and the
difference between such bid amount and the remaining balance of the Guaranteed Obligations shall be conclusively deemed to be the amount of the Guaranteed Obligations guaranteed under this Guaranty, notwithstanding that any present or future law or
court decision or ruling may have the effect of reducing the amount of any deficiency claim to which Agent and Lenders might otherwise be entitled but for such bidding at any such sale. 

 

	3.	FURTHER ASSURANCES. 

 Guarantor agrees, upon the written request of Agent or any Lender, to execute and deliver to Agent or such Lender, from time to time, any additional instruments or documents reasonably requested by Agent
or such Lender to cause this Guaranty to be, become or remain valid and effective in accordance with its terms or for the purpose of carrying out the intent of this Guaranty. 

 

	4.	PAYMENTS FREE AND CLEAR OF TAXES. 

 All payments under this Guaranty shall be made free and clear of any taxes, withholdings, duties, impositions or other charges (other than taxes on the overall net income of

 
any Lender and comparable taxes), such that Agent and Lenders will receive the entire amount of any Guaranteed Obligations, regardless of source of payment. 

 

	5.	OTHER TERMS. 

5.1. Entire Agreement. This Guaranty, together with the other Debt Documents, constitutes the entire agreement between the
parties with respect to the subject matter hereof and supersedes all prior agreements relating to a guaranty of the loans and advances under the Debt Documents and/or the Guaranteed Obligations. 

5.2. Headings. The headings in this Guaranty are for convenience of reference only and are not part of the substance of
this Guaranty. 
 5.3. Severability. Whenever possible, each provision of this Guaranty shall be interpreted in
such a manner to be effective and valid under applicable law, but if any provision of this Guaranty shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of this Guaranty. 
 5.4. Notices. Except
as otherwise provided herein, whenever it is provided herein that any notice, demand, request, consent, approval, declaration or other communication shall or may be given to or served upon any of the parties by any other party, or whenever any of
the parties desires to give and serve upon any other party any communication with respect to this Guaranty, each such notice, demand, request, consent, approval, declaration or other communication shall be in writing and shall be given in the
manner, and deemed received, as provided for in the Loan Agreement. 
 5.5. Successors and Assigns. This Guaranty
and all obligations of Guarantor hereunder shall be binding upon the successors and assigns of Guarantor (including a debtor-in- possession on behalf of Guarantor) and shall, together with the rights and remedies of Agent, for itself and for the
benefit of Lenders, thereunder, inure to the benefit of Agent and Lenders, all future holders of any instrument evidencing any of the Obligations and their respective successors and assigns. No sales of participations, other sales, assignments,
transfers or other dispositions of any agreement governing or instrument evidencing the Obligations or any portion thereof or interest therein shall in any manner affect the rights of Agent and Lenders hereunder. Guarantor may not assign, sell,
hypothecate or otherwise transfer any interest in or obligation under this Guaranty. 
 5.6. No Waiver; Cumulative
Remedies; Amendments. Neither Agent nor any Lender shall by any act, delay, omission or otherwise be deemed to have waived any of its rights or remedies hereunder, and no waiver shall be valid unless in writing, signed by Agent and then only to
the extent therein set forth. A waiver by Agent, for itself and the ratable benefit of Lenders, of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which Agent would otherwise have had on any
future occasion. No failure to exercise nor any delay in exercising on the part of Agent or any Lender, any right, power or privilege hereunder, shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or
privilege hereunder preclude any other or future exercise thereof or the 

 
exercise of any other right, power or privilege. The rights and remedies hereunder provided are cumulative and may be exercised singly or concurrently, and are not exclusive of any rights and
remedies provided by law. None of the terms or provisions of this Guaranty may be waived, altered, modified, supplemented or amended except by an instrument in writing, duly executed by Agent and Guarantor. 

5.7. Termination. This Guaranty is a continuing guaranty and shall remain in full force and effect until the Termination
Date. Upon payment and performance in full of the Guaranteed Obligations, Agent shall deliver to Guarantor such documents as Guarantor may reasonably request to evidence such termination. 

5.8. Counterparts. This Guaranty may be executed in any number of counterparts, each of which shall collectively and
separately constitute one and the same agreement. 
 5.9. Limitation on Guaranteed Obligations. Notwithstanding
any provision herein contained to the contrary, Guarantor’s liability hereunder shall be limited, on a joint and several basis, to an amount not to exceed as of any date of determination the greater of: 

(a) the net amount of the Term Loans and other extensions of credit advanced under the Loan Agreement and directly or
indirectly re-loaned or otherwise transferred to, or incurred for the benefit of, Guarantor, plus interest thereon at the applicable rate specified in the Loan Agreement; or 

(b) the amount which could be claimed by the Agent and Lenders from such Guarantor under this Guaranty without rendering
such claim voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law after taking into account,
among other things, Guarantor’s right of contribution and indemnification from any other guarantor of the Term Loans. 
  

	6.	SECURITY. 

 To
secure payment of Guarantor’s obligations under this Guaranty, concurrently with the execution of this Guaranty, Guarantor has entered into the Loan Agreement pursuant to which Guarantor has granted to Agent for the benefit of the Lenders a
security interest in substantially all of its personal property and has entered into a Pledge Agreement pursuant to which Guarantor has pledged all of the stock of each of its Subsidiaries, among other collateral, to Agent for the benefit of the
Lenders. 
 [Remainder of page left intentionally blank] 

  
 IN WITNESS WHEREOF,
the parties hereto have executed and delivered this Guaranty as of the date first above written. 
  

			
	Guarantor:
	
	PACIRA, INC.
		
	By:	 	/s/ James Scibetta
	Name:	 	James Scibetta
	Title:	 	Chief Financial Officer

  

			
	Agent:
	
	GENERAL ELECTRIC CAPITAL CORPORATION, as Agent
		
	By:	 	 
	Name:	 	 
	Title:	 	Duly Authorized Signatory Officer

  
 IN WITNESS WHEREOF,
the parties hereto have executed and delivered this Guaranty as of the date first above written. 
  

			
	Guarantor:
	
	PACIRA, INC.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	Agent:
	
	GENERAL ELECTRIC CAPITAL CORPORATION, as Agent
		
	By:	 	/s/ R. Hanes Whiteley
	Name:	 	R. Hanes Whiteley
	Title:	 	Duly Authorized SignatoryIntellectual Property Security Agreement, dated April 30, 2010

  
 Execution Copy

 Exhibit 10.32 
 INTELLECTUAL PROPERTY SECURITY AGREEMENT 
 This INTELLECTUAL PROPERTY
SECURITY AGREEMENT (this “Agreement”), dated as of April 30, 2010, is made by PACIRA PHARMACEUTICALS, INC., a California corporation (“Grantor”), in favor of GENERAL ELECTRIC CAPITAL
CORPORATION, a Delaware corporation, in its capacity as agent (in such capacity, together with any successors, endorsees and assigns, the “Agent”) for itself and the lenders from time to time party to the Loan Agreement
hereinafter defined (collectively, the “Lenders”). 
 W I T N E S
S E T H: 
 WHEREAS, Grantor, Agent and Lenders are parties to the Loan and Security
Agreement, dated as of the date hereof (as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Loan Agreement”), pursuant to which Lenders have agreed to provide to Grantor certain
loans and other extensions of credit in accordance with the terms and conditions thereof; and 
 WHEREAS, pursuant to the
Loan Agreement, Grantor is required to execute and deliver this Agreement. 
 NOW, THEREFORE, in consideration of the
premises and mutual covenants herein contained and to induce Agent and Lenders to enter into the Loan Agreement and to induce the Lenders to make their respective extensions of credit to the Borrower thereunder, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Grantor hereby agrees with the Agent as follows: 

Section 1.    Defined Terms. Capitalized terms used herein without definition are used as defined in the
Loan Agreement. 
 Section 2.    Grant of Security Interest in Intellectual Property Collateral.
Grantor, as collateral security for the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the Obligations hereby mortgages, pledges and hypothecates to Agent, for the benefit of itself
and Lenders, and grants to Agent, for the benefit of itself and Lenders, a Lien on and security interest in, all of its right, title and interest in, to and under the following Collateral of Grantor (the “Intellectual Property
Collateral”): 
 (a)    all of its trade secrets and rights under any written agreement granting
any right to use trade secrets; 
 (b)    all of its copyrights and rights under any written agreement
granting any right to use copyrights, including, without limitation, those referred to on Schedule 1 hereto, together with all renewals, reversions and extensions of the foregoing; 

(c)    all of its trademarks and rights under any written agreement granting any right to use trademarks, including,
without limitation, those referred to on Schedule 2 hereto, together with all renewals, reversions and extensions of the foregoing; 

  

(d)    all goodwill of the business connected with the use of, and symbolized by, each such trademark covered by
clause (c) above; 
 (e)    all of its US patents and rights under any written agreement granting any
right to use US patents, including, without limitation, those owned by Grantor referred to on Schedule 3 hereto, together with all reissues, reexaminations, continuations, continuations-in-part, divisionals, renewals and extensions of the
foregoing; 
 (f)    all of its US patent applications and rights under any written agreement granting any
right to use US patent applications, including, without limitation, those owned by Grantor referred to on Schedule 4 hereto, together with all reissues, reexaminations, continuations, continuations-in-part, divisionals, renewals and
extensions of the foregoing; 
 (g)    all of its PCT patent applications and rights under any written
agreement granting any right to use PCT patent applications, together with all reissues, reexaminations, continuations, continuations-in-part, divisionals, renewals and extensions of the foregoing; 

(h)    all of its foreign patents and patent applications, and rights under any written agreement granting any right
to use foreign patents and patent applications, together with all reissues, reexaminations, continuations, continuations-in-part, divisionals, renewals and extensions of the foregoing; 

(i)    all applications, registrations, claims, products, awards, judgments, amendments, improvements and insurance
claims related thereto now or hereafter owned or licensed by Grantor, or any claims for damages by way of any past, present, or future infringement of any of the foregoing, together with all accessions and additions thereto, proceeds and products
thereof (including, without limitation, any proceeds resulting under insurance policies); provided, further, that the Intellectual Property Collateral shall include, without limitation, all cash, royalty fees, other proceeds, accounts and general
intangibles that consist of rights of payment to or on behalf of Grantor or proceeds from the sale, licensing or other disposition of all or any part of, or rights in, the Intellectual Property Collateral by or on behalf of Grantor; and 

(j)    all income, royalties, proceeds and liabilities at any time due or payable or asserted under and with respect
to any of the foregoing, including, without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement, misappropriation, dilution, violation or other impairment thereof. 

Notwithstanding the foregoing the term “Intellectual Property Collateral” shall not include and shall exclude all Excluded Assets. 

Section 3.    Loan Agreement. The security interest granted pursuant to this Agreement is granted in
conjunction with, and is in no way limiting, the security interest granted to Agent, for the benefit of itself and Lenders, pursuant to the Loan Agreement, and Grantor hereby acknowledges and agrees that the rights and remedies of Agent and Lenders
with respect to the security interest in the Intellectual Property Collateral made and granted hereby are more fully set forth in the Loan Agreement, the terms and provisions of each of which are incorporated by reference herein as if fully set
forth herein. 

  

Section 4.    Grantor Remains Liable. Grantor hereby agrees that, anything herein to the contrary
notwithstanding, Grantor shall retain full and complete responsibility for the prosecution, defense, enforcement or any other necessary or desirable actions in connection with their Intellectual Property subject to a security interest hereunder.

 Section 5.    Counterparts. This Agreement may be executed in any number of counterparts and
by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signature pages may be detached from multiple separate
counterparts and attached to a single counterpart. 
 Section 6.    Governing Law. This
Agreement and the rights and obligations of the parties hereto shall be governed by, and construed and interpreted in accordance with, the law of the State of New York. 
 [Signature Pages Follow] 

  
 In witness whereof,
Grantor has caused this Intellectual Property Security Agreement to be executed and delivered by its duly authorized officer as of the date first set forth above. 

 

			
	GRANTOR:
	
	PACIRA PHARMACEUTICALS, INC.
		
	 By:
	 	/s/ James Scibetta
	 Name:
	 	James Scibetta
	 Title:
	 	Chief Financial Officer

  
 ACCEPTED AND AGREED 

as of the date first above written: 
 GENERAL
ELECTRIC CAPITAL CORPORATION, 
 as Agent, 
  

			
	By:	 	/s/ R. Hanes Whiteley
	Name:	 	R. Hanes Whiteley
	Title:	 	Duly Authorized Signatory

  
 5 

  
 Schedule 1

 to 
 Intellectual Property Security Agreement 
 None. 

  
 Schedule 2

 to 
 Intellectual Property Security Agreement 
 US Trademarks –
Registered or Applications Pending 
  

																							
	 Mark
	  	Country	  	Class	  	App #	 	  	Filing Date	 	  	Reg #	 	  	Reg Date	 	  	 Status

	 DEPOBUPIVACAINE
	  	United States	  	5	  				  				  	 	3335843	  	  	 	11/13/07	  	  	Section 8 Affidavit due 11/13/13
	 DEPOCYT
	  	United States	  	5	  				  				  	 	2390316	  	  	 	09/26/00	  	  	 Renewal
 due
09/26/10

	 DEODUR
	  	United States	  	5	  				  				  	 	2983713	  	  	 	08/09/05	  	  	Section 8 Affidavit due 08/09/11
	 DEPODUR and design

[GRAPHIC APPEARS HERE]
	  	United States	  	5	  				  				  	 	3252733	  	  	 	06/19/07	  	  	Section 8 Affidavit due 06/19/13
	 DEPODUR and design

[GRAPHIC APPEARS HERE]
	  	United States	  	16	  				  				  	 	3127414	  	  	 	08/08/06	  	  	Section 8 Affidavit due 08/08/12
	 DEPOFOAM
	  	United States	  	5	  				  				  	 	3325579	  	  	 	10/30/07	  	  	Section 8 Affidavit due 10/30/13
	 DEPOFOAM
	  	United States	  	40, 42	  				  				  	 	2443719	  	  	 	04/17/01	  	  	Renewal due 04/17/11
	 PACIRA
	  	United States	  	5	  				  				  	 	3648129	  	  	 	06/30/09	  	  	Section 8 Affidavit due 06/30/15
	 PACIRA
	  	United States	  	42	  				  				  	 	3651782	  	  	 	07/07/09	  	  	Section 8 Affidavit due 07/07/15

  
 Schedule 3

 to 
 Intellectual Property Security Agreement 
 US Patents – Registered

  

																			
	 Method for Treating Neurological Disorders

	 UNITED STATES
	  	008001	  	PCIRA.006A	  	NEW	  	05/14/1993	  	08/062,799	  	10/03/1995	  	5,455,044	  	05/14/2013	  	ISSUED
	 UNITED STATES
	  	008002.DIV1	  	PCIRA.006DVI	  	DIV	  	06/07/1995	  	08/484,501	  	11/19/1996	  	5,576,018	  	11/19/2013	  	ISSUED
	
	 Uniform Spherical Multilamellar Liposomes of Defined and Adjustable Size Distribution

	 UNITED STATES
	  	009001	  	PCIRA.7CP1CP1	  	NEW	  	04/25/1990	  	07/514,665	  	12/22/1992	  	5,173,219	  	12/22/2009	  	ISSUED
	
	 Heterovesicular Liposomes (to 020001)

	 UNITED STATES
	  	016001	  	PCIRA.9CP1CP1	  	NEW	  	06/16/1993	  	08/078,701	  	06/06/1995	  	5,422,120	  	06/16/2013	  	ISSUED
	
	 Preparation of Multivesicular Liposomes for Controlled release of Biologically Active
Compounds

	 UNITED STATES
	  	019001	  	PCIRA.012A	  	NEW	  	09/13/1994	  	08/305,158	  	11/30/1999	  	5,993,850	  	11/30/2016	  	ISSUED
	
	 Heterovesicular Liposomes

	 UNITED STATES
	  	020001	  	PCIRA.9CPCPCP	  	CIP	  	02/23/1995	  	08/393,724	  	11/19/1996	  	5,576,017	  	06/06/2012	  	ISSUED
	
	 Epidural Administration of Therapeutic Compounds with Sustained Rate of Release

	 UNITED STATES
	  	021001	  	PCIRA.013A	  	NEW	  	07/14/1995	  	08/502,569	  	08/03/1999	  	5,931,809	  	07/14/2015	  	ISSUED
	 UNITED STATES
	  	021002	  	PCIRA.013C1	  	CON	  	09/16/1997	  	08/931,867	  	08/06/2002	  	6,428,529	  	07/14/2015	  	ISSUED
	
	 Multivesicular Liposomes for Controlled Release of Encapsulated Biologically Active
Substances

	 UNITED STATES
	  	022002.DIV1	  	PCIRA.5CPCDV1	  	DIV	  	03/20/1998	  	09/045,236	  	10/17/2000	  	6,132,766	  	11/16/2013	  	ISSUED
	
	 Multivesicular Liposomes for Controlled Release of Encapsulated Biologically Active
Substances

	 UNITED STATES
	  	023001	  	PCIRA.005CP2C1	  	R62	  	05/23/1997	  	08/862,589	  	06/16/1998	  	5,766,627	  	11/16/2013	  	ISSUED
	
	 Multivesicular Liposomes Having a Biologically Active Substance Encapsulated Therein in the Presence of a
Hydrochloride

	 UNITED STATES
	  	024001	  	PCIRA.8PPCPCCP	  	CIP	  	06/06/1995	  	08/473,019	  	09/15/1998	  	5,807,572	  	09/15/2015	  	ISSUED
	
	 Multivesicular Liposomes Having a Biologically Active Substance Encapsulated Therein in the Presence of a
Hydrochloride

	 UNITED STATES
	  	025001	  	PCIRA.8CPPCPCCP	  	CIP	  	06/06/1995	  	08/472,126	  	03/03/1998	  	5,723,147	  	03/03/2015	  	ISSUED
	
	 Cyclodextrin Liposomes Encapsulating Pharmacologic Compounds and Methods for Their Use

	 UNITED STATES
	  	027001	  	PCIRA.010NP	  	CIP	  	12/21/1995	  	08/535,256	  	06/02/1998	  	5,759,573	  	04/22/2014	  	ISSUED
	
	 Method for Producing Liposomes with Increased Percent of Compound Encapsulated

	 UNITED STATES
	  	030001	  	PCIRA.018A	  	NEW	  	10/01/1996	  	08/723,583	  	12/07/1999	  	5,997,899	  	10/01/2016	  	ISSUED
	 UNITED STATES
	  	030002.DIV1	  	PCIRA.018DV3	  	DIV	  	11/01/1999	  	09/431,525	  	01/09/2001	  	6,171,613	  	10/01/2016	  	ISSUED
	 UNITED STATES
	  	030003.DIV1	  	PCIRA.018DV1	  	DIV	  	11/01/1999	  	09/431,523	  	02/27/2001	  	6,193,998	  	10/01/2016	  	ISSUED
	 UNITED STATES
	  	030005.CON1	  	PCIRA.018C1	  	CON	  	12/06/1999	  	09/454,521	  	06/05/2001	  	6,241,999	  	16/01/2016	  	ISSUED
	
	 Method for Utilizing Neutral Lipids to Modify In Vivo Release from Multivesicular
Liposomes

	 UNITED STATES
	  	033001	  	PCIRA.021A	  	NEW	  	01/31/1997	  	08/792,566	  	04/06/1999	  	5,891,467	  	01/31/2017	  	ISSUED
	 UNITED STATES
	  	033002	  	PCIRA.021DV1	  	DIV	  	11/19/1997	  	08/974,296	  	10/05/1999	  	5,962,016	  	01/31/2017	  	ISSUED
	
	 Modulation of Drug Loading in Multivesicular Liposomes

	 UNITED STATES
	  	039001	  	PCIRA.015A	  	NEW	  	09/08/1997	  	08/925,532	  	08/22/2000	  	6,106,858	  	09/08/2017	  	ISSUED
	
	 Sustained Release Liposomal Anesthetic Compositions

	 UNITED STATES
	  	041US1	  	PCIRA.014A	  	FCA	  	09/18/1998	  	09/156,214	  	04/04/2000	  	6,045,824	  	09/18/2018	  	ISSUED
	
	 Biodegradable Compositions for the Controlled Release of Encapsulated Substances

	 UNITED STATES
	  	051001	  	PCIRA.020A	  	FCA	  	07/16/1999	  	09/356,218	  	08/21/2001	  	6,277,413	  	07/16/2019	  	ISSUED
	 UNITED STATES
	  	051002.DIV1	  	PCIRA.020DV1	  	DIV	  	05/17/2001	  	09/859,847	  	09/21/2004	  	6,793,938	  	08/14/2019	  	ISSUED

  
 Schedule 4

 to 
 Intellectual Property Security Agreement 
 US Patents: Pending

  

																			
	 Sustained Release Liposomal Anesthetic Compositions

	 UNITED STATES
	  	041002.CONWO	  	PCIRA.014C1	  	DCA	  	04/01/2005	  	11/097,756	  		  		  		  	PENDING
	
	 Production of Multivesicular Liposomes

	 UNITED STATES
	  	043002	  	PCIRA.019C1	  	FCA	  	02/25/2007	  	11/678,615	  		  		  		  	PENDING
	
	 Encapsulation of Nanosuspensions in Liposomes and Microspheres

	 UNITED STATES
	  	080001	  	PCIRA.017A	  	FCA	  	05/31/2002	  	10/161,969	  		  		  		  	PENDING
	
	 Process for Manufacturing Multivesicular Liposomes

	 UNITED STATES
	  	096PO1	  		  	NEW	  		  		  		  		  		  	PROPOSED
	
	Hyaluronidase As An Adjuvant For Increasing The Injection Volume And Dispersion Of Large Diameter Synthetic Membrane Vesicles Containing A Therapeutic
Agent
	 UNITED STATES
	  	032PR	  	PCIRA.032PR	  	PRO	  	05/29/2009	  	61/182367	  		  		  		  	PENDING

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