Common use of Full Vesting of All Stock Options and Restricted Shares Clause in Contracts

Full Vesting of All Stock Options and Restricted Shares. Notwithstanding any provision to the contrary in any equity compensation plan of the Company (the “Option Plan”) or any award agreement under the Option Plan, (i) any outstanding, unexercisable stock options or unvested restricted shares shall become fully exercisable and vested as of the Termination Date and (ii) any stock options shall remain exercisable until the first anniversary of the Termination Date; provided, however, that (x) in no event shall any stock option continue to be exercisable after the expiration of the 10th anniversary of the grant date of any such option and (y) this section shall not restrict the Company’s ability to adjust stock options pursuant to Section 3(b) of the Option Plan (or any successor provision under the Option Plan or any similar provision in any other Company option plan) or to require that optionees surrender their stock option pursuant to Section 10(b) of the Option Plan (or any successor provision under the Option Plan or any similar provision in any other Company option plan), so long as, in any such adjustment or surrender, Executive is treated no less favorably than any other employee of the Company.

Full Vesting of All Stock Options and Restricted Shares. Notwithstanding any provision to the contrary in any equity compensation plan of the Company Amended and Restated Arena Pharmaceuticals, Inc. 2000 Equity Compensation Plan (the “Option Plan”) or any award agreement under the he Option Plan, (i) any outstanding, unexercisable stock options or unvested restricted shares shall become fully exercisable and vested as of the Termination Date and (ii) any stock options shall remain exercisable until the first anniversary of the Termination Date; provided, however, that (x) in no event shall any stock option continue to be exercisable after the expiration of the 10th anniversary of the grant date of any such option and (y) this section shall not restrict the Company’s ability to adjust stock options pursuant to Section 3(b) of the Option Plan (or any successor provision under the Option Plan or any similar provision in any other Company option plan) or to require that optionees surrender their stock option pursuant to Section 10(b) of the Option Plan (or any successor provision under the Option Plan or any similar provision in any other Company option plan), so long as, in any such adjustment or surrender, Executive is treated no less favorably than any other employee of the Company.

Full Vesting of All Stock Options and Restricted Shares. Notwithstanding any provision to the contrary in any a Company equity compensation plan of the Company (the an “Option Plan”) or any award agreement under the an Option Plan, (i) any outstanding, unexercisable stock options or unvested restricted shares shall become fully exercisable and vested as of the Termination Date and (ii) any stock options shall remain exercisable until the first anniversary of the Termination Date; provided, however, that (x) in no event shall any stock option continue to be exercisable after the expiration of the 10th anniversary of the grant date of any such option and option; (y) this section shall not restrict the Company’s ability to adjust the number of stock options or restricted stock subject to a grant pursuant to Section 3(b) of the Option Company’s 2000 Equity Compensation Plan (or any successor provision under the Option Plan such option plan or any similar provision in any other Company option planOption Plan) or to require that optionees surrender their stock option pursuant to Section 10(b) of the Option Company’s 2000 Equity Compensation Plan (or any successor provision under the Option Plan such option plan or any similar provision in any other Company option planOption Plan), so long as, in any such adjustment or surrender, Executive is treated no less favorably than any other employee of the Company; and (z) this section shall not apply to any grants of performance-based restricted stock units, including any such grants under the Company’s 2007 Performance-Based Restricted Stock Unit Grant Agreement.

Full Vesting of All Stock Options and Restricted Shares. Notwithstanding any provision to the contrary in any equity compensation plan of the Company Amended and Restated Arena Pharmaceuticals, Inc. 2000 Equity Compensation Plan (the “Option Plan”) or any award agreement under the Option Plan, (i) any outstanding, unexercisable stock options or unvested restricted shares shall become fully exercisable and vested as of the Termination Date and (ii) any stock options shall remain exercisable until the first anniversary of the Termination Date; provided, however, that (x) in no event shall any stock option continue to be exercisable after the expiration of the 10th anniversary of the grant date of any such option and (y) this section shall not restrict the Company’s ability to adjust stock options pursuant to Section 3(b) of the Option Plan (or any successor provision under the Option Plan or any similar provision in any other Company option plan) or to require that optionees surrender their stock option pursuant to Section 10(b) of the Option Plan (or any successor provision under the Option Plan or any similar provision in any other Company option plan), so long as, in any such adjustment or surrender, Executive is treated no less favorably than any other employee of the Company.