Transition, separation, and consulting agreement by and between Adamas Pharmaceuticals, Inc. and Gregory T. Went, Ph.D., dated September 11, 2019

1.SEPARATION DATE/TRANSITION PERIOD. As discussed, you and the Company have mutually agreed to end your employment with the Company, pursuant to the terms in this Agreement. Your employment as the Company’s Chief Executive Officer (“CEO”) will continue from the date of this Agreement through the earliest to occur of the following: (i) December 31, 2019, or (ii) the date that the Company appoints a new CEO of the Company and he or she commences employment (the “Transition Period”), which will then become your employment termination date (the “Separation Date”). During the Transition Period, you agree to perform your current duties in good faith and to the best of your abilities. During the Transition Period, your base salary will remain the same, and you will continue to be eligible for the Company’s standard benefits, subject to the terms and conditions applicable to such plans and programs. Your Company stock options and restricted stock units (“RSUs”) will continue to vest under the existing terms and conditions set forth in the governing plan documents and award agreements.

2.RESIGNATION. After the Separation Date, you will no longer be employed as CEO of the Company, or hold any other employment or officer positions with the Company or any of its subsidiaries or affiliated entities, on which you serve. In addition, you agree, no later than your Separation Date, to sign and return to the Company a Board resignation letter, which provides for your immediate resignation from the Board of Directors (the “Board”) of the Company, and any subsidiary entities of the Company, on which you serve.

3.FINAL PAY. On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused paid time off (“PTO”) earned through the Separation Date, subject to standard payroll deductions and withholdings. You are entitled to these payments regardless of whether or not you sign this Agreement.

4.SEVERANCE BENEFITS. In full satisfaction of any obligations to provide you with severance benefits for a “Qualifying Termination that is not a CIC Termination” under the terms of the Adamas Pharmaceuticals, Inc. Amended and Restated Executive Severance Plan (the “Severance Plan”), if you: (i) timely sign and return this Agreement to the Company and allow the releases contained herein to become effective; (ii) comply with your obligations hereunder; and (iii) on or within twenty-one (21) days after the Separation Date, execute and return to the Company a release of claims in the form attached hereto as Exhibit A (the “Release”) and allow the releases contained therein to become effective; then pursuant to the terms of the Severance Plan, the Company will provide you with the following severance benefits (the “Severance Benefits”) after the Separation Date:

(a)Severance Pay. The Company will pay you severance in the amount of $852,500 which is equivalent to twelve (12) months of your base salary in effect as of the Separation Date and your target bonus of 55% of your base salary as of the date of this Agreement, subject to standard payroll deductions and withholdings (the “Severance Pay”). The Severance Pay will be paid to you in a lump sum payment within fifteen (15) days following the Release Effective Date (as defined in the Release).

5.CONSULTING PERIOD. If you: (i) timely sign, date, and return this Agreement to the Company and allow all of the releases contained herein to become effective; (ii) comply with your obligations to the Company hereunder; and (iii) on or within twenty-one (21) days after the Separation Date, execute and return to the Company the Release and allow the releases contained therein to become effective; then the Company will retain you as a consultant under the terms specified below. The consulting relationship will commence on the date immediately following the Separation Date and continue through December 31, 2021, unless terminated earlier pursuant to the terms set forth below or extended by the Company by written notice pursuant to Section 5(k)(i) (the “Consulting Period”). You acknowledge and agree that prior to entering into this Agreement, the Company is under no legal obligation to retain your services as a consultant after the Separation Date and therefore this Consulting Period constitutes consideration for your obligations as specified herein.

6.OTHER COMPENSATION OR BENEFITS. You acknowledge and agree that payment of the Severance Benefits provided herein fulfills all of the Company’s obligations to pay you severance benefits pursuant to the Severance Plan or any other agreements between you and the Company, and this Agreement supersedes and extinguishes any obligation of the Company to provide you with any severance benefits under the Severance Plan or any other agreements. You acknowledge that, except as expressly provided in this Agreement, you will not receive any additional compensation, severance or benefits after the Separation Date, with the exception of any accrued, vested benefits you may have under the express terms of a written ERISA benefit plan (e.g., 401(k) account). You further acknowledge that you are not eligible to receive, and will not receive, any other severance benefits under any Company severance plan or any other agreements with the Company.

7.EXPENSE REIMBURSEMENTS. You agree that, within ten (10) days after the Separation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement. The Company will reimburse you for these expenses pursuant to its regular business practice. In addition, the Company will pay your attorneys’ fees in connection with the negotiation of your separation, in an amount not to exceed $25,000 (the “Attorneys’ Fees Payment”). The Attorneys’ Fees Payment will be paid in a lump sum to “Pillsbury Winthrop Shaw Pittman” (“Pillsbury”) within fifteen (15) business days following the date the parties execute this Agreement, provided that Pillsbury has provided you with an invoice of its services in connection with the review of this Agreement and your counsel has provided a completed IRS Form W-9 to the Company prior to such date. No amounts will be withheld for taxes from the Attorneys’ Fees Payment. You agree that you will be entirely responsible for payment of any taxes that may be due on the Attorneys’ Fees Payment, and you hereby indemnify, defend and save harmless the Company, and its officers and directors in their individual capacities, from any liability for any taxes, penalties or interest that may be assessed by any taxing authority with respect to the Attorneys’ Fees Payment.

8.RETURN OF COMPANY PROPERTY. Within ten (10) days after the close of business on the Separation Date, you shall return to the Company all Company documents (and all copies thereof) and other Company property in your possession or control, including your Company laptop and iPad. You agree that you will make a diligent search to locate any such documents, property and information within the timeframe referenced above. In addition, if you have used any personally owned computer, server, or e-mail system to receive, store, review, prepare or transmit any confidential or proprietary data, materials or information of the Company, then within five (5) business days after the Separation Date, you must provide the Company with a computer-useable copy of such information and then permanently delete and expunge such confidential or proprietary information from those systems without retaining any reproductions (in whole or in part); and you agree to provide the Company access to your system, as requested, to verify that the necessary copying and deletion is done. Your timely compliance with the provisions of this paragraph is a precondition to your receipt of the severance benefits provided hereunder.

9.NONDISPARAGEMENT. You agree not to disparage the Company or the Company’s officers, directors, employees, shareholders, parents, subsidiaries, affiliates, and agents, in any manner likely to be harmful to them or their business, business reputation or personal reputation. Likewise, the Company agrees to instruct its officers, directors and senior managers not to disparage or encourage others to disparage you in any manner likely to be harmful to you or your business or personal reputation. Notwithstanding the foregoing, either party may respond accurately and fully to any question, inquiry or request for information when required by legal process. In addition, nothing in this provision or this Agreement is intended to prohibit or restrain you or the Company in any manner from making disclosures that are protected under the whistleblower provisions of federal or state law or regulation.

10.NO VOLUNTARY ADVERSE ACTION. You agree that you will not voluntarily (except in response to legal compulsion) assist any person in bringing or pursuing any proposed or pending litigation, arbitration, administrative claim or other formal proceeding against the Company, its parent or subsidiary entities, affiliates, officers, directors, employees or agents. Notwithstanding the foregoing, you may cooperate with, or participate in any proceeding before any Governmental Agency or as required by compulsion of law.

11.COOPERATION. You agree to cooperate fully with the Company in connection with its actual or contemplated defense, prosecution, or investigation of any claims or demands by or against third parties, or other matters arising from events, acts, or failures to act that occurred during the period of your employment by the Company. Such cooperation includes, without limitation, making yourself available to the Company upon reasonable notice, without subpoena, to provide complete, truthful and accurate information in witness interviews, depositions, and trial testimony. The Company will reimburse you for reasonable out-of-pocket expenses you incur in connection with any such cooperation (excluding foregone wages and attorneys’ fees) and will make reasonable efforts to accommodate your scheduling needs.

12.NO ADMISSIONS. You understand and agree that the promises and payments in consideration of this Agreement shall not be construed to be an admission of any liability or obligation by the Company to you or to any other person, and that the Company makes no such admission.

13.RELEASE OF CLAIMS.

(e)Excluded Claims. Notwithstanding the foregoing, the following are not included in the Released Claims (the “Excluded Claims”): (i) any rights or claims for indemnification you may have pursuant to any written indemnification agreement with the Company to which you are a party or under applicable law; (ii) any rights which are not waivable as a matter of law; and (iii) any claims for breach of this Agreement. You hereby represent and warrant that, other than the Excluded Claims, you are not aware of any claims you have or might have against any of the Released Parties that are not included in the Released Claims. You further understand that nothing in this Agreement limits your ability to file a charge or complaint with the Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Occupational Safety and Health Administration, the California Department of Fair Employment and Housing, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission (“Government Agencies”). You further understand this Agreement does not limit your ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company. While this Agreement does not limit your right to receive an award for information provided to the Securities and Exchange Commission, you understand and agree that, to maximum extent permitted by law, you are otherwise waiving any and all rights you may have to individual relief based on any claims that you have released and any rights you have waived by signing this Agreement.

14.REPRESENTATIONS. You hereby represent that you have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections for which you are eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which you have not already filed a claim.

15.GENERAL. This Agreement, including its exhibits, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to this subject matter. It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company. This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified by the court so as to be rendered enforceable to the fullest extent permitted by law, consistent with the intent of the parties. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California. This Agreement may be executed in counterparts and facsimile and electronic signatures will suffice as original signatures.