Document:

Amended 2008 Corporate Bonus Plan

 Exhibit 10.25 
 CADENCE PHARMACEUTICALS, INC. 
 BONUS PLAN 
 Effective January 1, 2008 
 Revised March 18, 2008 – Revisions Effective January 1, 2008

 INTRODUCTION AND PURPOSE 
 The Cadence Pharmaceuticals, Inc.
(“Cadence” or the “Company”) Bonus Plan (the “Plan”) is designed to reward eligible employees for the achievement of corporate objectives, as well as measured individual objectives that are consistent with and support
the overall corporate objectives. Since cooperation between departments and employees will be required to achieve corporate objectives that represent a significant portion of the Plan, the Plan should help foster teamwork and build a cohesive
management team. 
 The Plan is designed to: 

	•	 	 Encourage high performance by providing an incentive program to achieve overall corporate objectives and to enhance shareholder value. 

	•	 	 Reward those individuals who significantly impact corporate results. 

	•	 	 Encourage increased teamwork among all disciplines within Cadence. 

	•	 	 Incorporate an incentive program in the Cadence overall compensation program to help attract and retain employees. 

	•	 	 Provide an incentive for eligible employees to remain employed by Cadence through and beyond the payout of any earned bonus. 

 ELIGIBILITY 
 All regular, exempt, full-time employees at the Senior Manager level
or higher are eligible to participate in the Plan. Employees are not eligible if included in a separate formal incentive plan provided by the Company. In order to be eligible, a participant must have been in an eligible position for at least three
(3) full consecutive months prior to the end of the Plan year, and the participant must remain employed through the end of the Plan year and until awards are paid. If the participant is not employed on the date awards are paid, the participant
will not have earned any bonus. If the participant has been subject to a performance improvement plan or other disciplinary procedure during the Plan year, any award to such individual will be at the discretion of the President and CEO or the
Compensation Committee. 
 Change in Status During the Plan Period: 

	 	a.	Participants hired during the Plan year: 

	 	•	 	 Participants hired during the Plan year are eligible for a prorated award based the number of months employed in an eligible position. 

  

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	 	•	 	 Participants hired after the end of the third quarter are not eligible to participate for the plan year. 

	 	b.	Promotion/change in level:  

	 	 •
	 	 For promotions that occur after April 30th
of the applicable Plan year but prior to October 1st of the applicable Plan year, the calculation will be prorated, based on the number of months at each bonus
percentage level. 

	 	 •
	 	 If the promotion occurred on or after October 1st of the applicable Plan year, the entire calculation will be based on the bonus percentage applicable prior to the promotion. 

	 	c.	Transfer to a position that is included in a separate formal Incentive Plan: Awards will be pro-rated using the same discipline as outlined for promotions above.

	 	d.	Termination of employment:  

	 	•	 	 If a participant’s employment is terminated voluntarily prior to the date awards are paid, the participant will not be eligible to receive an award.

	 	•	 	 If a participant’s employment is terminated involuntarily prior to the date awards are paid, it will be at the absolute discretion of the Company whether or not an award
payment is made. 

	 	e.	Leave of Absence: Employee may be considered for a prorated award. 

 AWARD
CALCULATION 
 Awards will be determined by applying a “bonus percentage” to the participant’s base salary in effect at the end
of the Plan year. While the Compensation Committee may change the bonus percentage for any Plan year, the following bonus percentages will initially be used for this purpose: 
  

			
	 Position Title
	  	Bonus Percentage
	 President/CEO
	  	60%
	 EVP, SVP
	  	35%
	 VP
	  	30%
	 Senior Director
	  	20%
	 Director
	  	20%
	 Associate Director, Senior
Manager
	  	15%

 Corporate and Individual Performance Factors 
 The President and / or CEO will present to the Compensation Committee a list of the overall corporate objectives for the applicable Plan year, which are subject to approval by the Compensation Committee. All participants in the
Plan will then develop a list of key individual objectives, which must be approved by the responsible Vice President or Senior Vice President and by the President and / or CEO. 
 The relative weight between corporate and individual performance factors varies based on the individual’s assigned level within the organization. The weighting 

  

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may be reviewed periodically and may be adjusted for any Plan year. The weighting for the performance factors will initially be as follows: 
  

					
	 	  	Corporate	 	Individual
	 President/CEO
	  	100%	 	
	 SVP/VP
	  	  60%	 	40%
	 All Other
	  	  50%	 	50%

 Performance Award Multiplier 
 Separate award multipliers will be established for both the corporate and the individual components of each award. The award multiplier for the corporate component shall be determined by the Compensation Committee each Plan year, in its
sole discretion. The same award multiplier for the corporate component of the award shall be used for all Plan participants. The award multiplier for the individual component shall be determined by the responsible Vice President or Senior Vice
President and by the President and / or CEO. 
 While the Compensation Committee may change the award multipliers for any Plan year, the following scale will initially
be used to determine the actual performance award multiplier based upon the measurement of corporate and individual performance objectives. 
  

					
	 	  	 Performance Category
	  	Award Multiplier
	 1.
	  	Performance for the year met or exceeded objectives or was excellent in view of prevailing conditions	  	75% - 150%
			
	 2.
	  	Performance generally met the year’s objectives or was very acceptable in view of prevailing conditions	  	50% - 75%
			
	 3.
	  	Performance for the year met some, but not all, objectives	  	25% - 50%
			
	 4.
	  	Performance for the year was not acceptable in view of prevailing conditions	  	0%

 Example 
 The example below shows a
sample cash bonus award calculation under the Plan, which is determined after the end of the performance period. 
 Step #1: A potential base bonus award
is calculated by multiplying the employee’s base salary by their assigned level bonus percentage. 
 Step #2: The calculated potential base bonus
amount is then split between the corporate and individual performance factors by the employee’s assigned level (per the weighting above). This calculation establishes specific potential dollar awards for the performance period based on both the
individual and corporate performance factor components. 
 Step #3: After the end of the performance period, corporate and individual award multipliers
will be established using the criteria described above. Awards are 

  

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determined by multiplying the potential bonus awards in Step #2 by the actual corporate and individual award multipliers. 
  

													
	Example:	 	Step # 1:	 	Potential Base Bonus Award Calculation	  				 		 	
		 	Position:	 		  	 	Sr.Director	 
		 	Base salary:	  	$	100,000	 	 		 
		 	Bonus percentage:	  	 	20	%	 		 
		 	Potential base bonus:	  	$	20,000	 	 		 
		 	  
 Step # 2:
	 	Split award amount based on weighting of Performance Factors	 
		 	Potential corporate performance bonus (50%):	  	$	10,000	 	 		 
		 	Potential individual performance bonus (50%):	  	$	10,000	 	 		 
		 	  
 Step # 3:
	 	Actual Cash Incentive Award Calculation	  				 		 
		 	Assumed payment multipliers based on assessment of corporate and individual performance:	 
		 	Corporate multiplier	  	 	75%-performance generally met objectives	 
		 	Individual multiplier	  	 	125%-performance generally exceeded objectives	 
		 	Cash Award:	  				 		 
		 		 	Corporate component	  	$	 7,500	 	 	($10,000 x 75%)	 
		 		 	Individual component	  	$	 12,500	 	 	($10,000 x 125%)	 
		 		 		  	 	 	 	 		 
		 		 	Total Award	  	$	20,000	 	 		 

 AWARD PAYMENTS 
 Bonus
award payments may be made in cash, through the issuance of stock, stock options or another form of equity award, or by a combination of cash, stock, stock options and/or another form of equity award, at the discretion of the Compensation Committee.
All bonus award payments are subject to applicable tax withholdings. In the event that the Compensation Committee and / or the Board of Directors elect to pay bonus awards in stock or stock options, the Compensation Committee, in its sole
discretion, will make a determination as to the number of shares of stock or stock options to be issued to each Plan participant based, in part, upon the overall corporate performance and each participant’s individual performance, as described.
The issuance of stock and stock options may also be subject to the approval of the Company’s stockholders, and any stock options issued will be subject to the terms and conditions of the Company’s Equity Incentive Award Plan, as amended
from time to time by the Company. 
 Payment of bonus awards will be made as soon as practicable after the end of the Plan year but not before the completion and
issuance of the Company’s year-end audited Financial Statements. Payments will not be impacted by any benefits, with the exception of elected 401(k) contributions which will be applied. 
  

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 PLAN PROVISIONS 
 Governance

 The Plan will be governed by the Compensation Committee of the Board of Directors (the “Compensation Committee”). The President and / or CEO of Cadence
will be responsible for the administration of the Plan. The Compensation Committee will be responsible for approving any compensation or incentive awards to officers of the Company. All determinations of the Compensation Committee, under the Plan,
shall be final and binding on all Plan participants. 
 Compensation Committee’s Absolute Right to Alter or Abolish the Plan 
 The Compensation Committee reserves the right in its absolute discretion to abolish the Plan at any time or to alter the terms and conditions under which incentive compensation
will be paid. Such discretion may be exercised any time before, during, and after the Plan year is completed. No participant shall have any vested right to receive any compensation hereunder until actual delivery of such compensation. Participation
in the Plan at any given time does not guarantee ongoing participation. 
 Employment Duration/Employment Relationship 
 This Plan does not, and Cadence’s policies and practices in administering this Plan do not, constitute an express or implied contract or other agreement concerning the
duration of any participant’s employment with the Company. The employment relationship of each participant is “at will” and may be terminated at any time by Cadence or by the participant, with or without cause. 
 Any questions pertaining to this plan should be directed to the Human Resources Department. 
  

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 Cadence Pharmaceuticals, Inc. 
 Bonus Plan 
 Effective January 1, 2008 
 Revised March 18, 2008 – Revisions Effective January 1, 2008 
 This is to acknowledge that I have
received a copy of the Bonus Plan. 
  

									
	Name:	 	  
	 		 	Date:	 	  

		 	(Print)	 		 		 	
		 	  
	 		 		 	
		 	(Signature)	 		 		 	

  

 6Amendment No. 2 to Collaboration and License Agreement

 Exhibit 10.26 
 AMENDMENT NO. 2 TO 
 COLLABORATION AND LICENSE AGREEMENT 
 Reference is made to that certain Collaboration and License Agreement dated as of June 30, 2004, and amended as of
October 6, 2006 (“Agreement”), by and between Migenix, Inc., formerly known as Micrologix Biotech Inc. (“Migenix”), and Cadence Pharmaceuticals, Inc. formerly known as Strata Pharmaceuticals Inc.,
(“Cadence”). All initially capitalized terms not defined herein shall have the same meaning given to such terms in the Agreement. 
 WITNESSETH 
 WHEREAS, Migenix and Cadence desire to amend the Agreement as of April 7, 2008 (the
“Amendment No. 2 Effective Date”) in accordance with the terms of this Amendment No. 2 (this “Amendment”); 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Parties, the Parties hereto, intending to be legally bound, agree as follows: 
 1. Section 8.1(a) of the Agreement is hereby amended and replaced in its entirety with the following: 
  

	 	8.1	Confidentiality. 

  

	 	(a)	 During the Term and for a period of five (5) years thereafter, each Party shall maintain all Confidential Information of the other Party as confidential and
shall not disclose any such Confidential Information to any Third Party or use any such Confidential Information for any purpose, except (i) as expressly authorized by this Agreement or with the prior written consent of the other Party, which
consent shall not be unreasonably withheld or delayed, (ii) as required by Applicable Laws or court order of a court of competent jurisdiction (provided that the disclosing Party shall first notify the other Party to afford the other Party, for
a period of ten (10) business days or such lesser period as may be provided by Applicable Law, an opportunity to seek whatever protective relief it deems appropriate, and the disclosing Party shall use Commercially Reasonable Efforts to obtain
confidential treatment of any such information required to be disclosed), (iii) to its Representatives to accomplish the purposes of this Agreement, so long as such Representatives are under an obligation of confidentiality and limited-use no
less stringent than as set forth herein, (iv) to bona fide potential investors and their respective advisors during financing or an acquisition, merger or other like reorganization, so long as such investors and advisors are under an obligation
of confidentiality and limited-use no less stringent than as set forth herein, except as otherwise provided herein, (v) in respect of Strata and its sublicensees, to service providers and potential sublicensees of Strata’s rights under
Section 3.5 of the Agreement as is required to exercise its rights and perform its obligations under this Agreement, so long as the recipients of such information are under an obligation of confidentiality and limited-use no less stringent than
as set forth herein, and (vi) in respect of Micrologix and its licensees, to service providers and to potential licensees of Micrologix’s rights reserved under Section 3.2 of this Agreement, so long as the recipients of such
information are under an obligation of confidentiality and limited-use no less stringent than as set forth herein, except that, with respect to the disclosures made pursuant to (iii), (iv), (v) and (vi), the term of the obligation of
confidentiality and limited-use need not be longer than five (5) years after 

	 	 
the date of disclosure of any given item of Confidential Information. Each Party may use such Confidential Information only to the extent required to
accomplish the purposes of this Agreement. 

 Except for the matters set forth in this Amendment, all other
terms and conditions of the Agreement shall remain unchanged and in full force and effect. This Amendment shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, except that no conflict of laws
provision shall be applied to make laws of any other jurisdiction applicable to this Amendment. 
 This Amendment, along with
the Agreement (including the Exhibits attached thereto, and Amendment No. 1 thereof), sets forth all of the covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties hereto with respect to
the subject matter hereof and supersedes and terminates all prior agreements and understandings between the Parties. No subsequent alteration, amendment, change or addition to this Amendment shall be binding upon the Parties hereto unless reduced to
writing and signed by the respective authorized officers of the Parties. 
 IN WITNESS WHEREOF, the Parties hereto have
caused this Amendment to be duly executed by their authorized representatives effective as of the Amendment No. 2 Effective Date. 
  

							
	Migenix, Inc.	 	Cadence Pharmaceuticals, Inc.
	“Migenix”	 	“Cadence”
			
	By:	 	Art Ayres	 	Theodore R. Schroeder
	Name:	 	Art Ayres	 	Name:	 	Theodore R. Schroeder
	Title:	 	 Senior Vice President, Finance
 and Chief Financial
Officer
	 	Title:	 	President and Chief Executive Officer

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