Amendment No. 2 to Arena Pharmaceuticals, Inc. Amended and Restated Severance Benefit Plan
Arena Pharmaceuticals, Inc. has amended its Severance Benefit Plan as of October 4, 2013. This amendment updates Exhibit A, which lists specific executives and the duration of their severance benefits if their employment ends. The amendment specifies that Jack Lief, Dominic Behan, and Steven Spector are entitled to 18 months of severance, while Craig Audet, Robert Hoffman, and William Shanahan are entitled to 12 months. The amendment was executed by the company's President and CEO, Jack Lief.
Exhibit 10.23
AMENDMENT NO. 2 TO
ARENA PHARMACEUTICALS, INC.
AMENDED AND RESTATED SEVERANCE BENEFIT PLAN
The Arena Pharmaceuticals, Inc., Amended and Restated Severance Benefit Plan, originally effective on January 20, 2006, amended and restated on December 30, 2008, and amended as of February 10, 2012 (as amended, the “Plan”), is hereby further amended as of October 4, 2013, by this Amendment No. 2 as follows:
Exhibit A of the Plan is deleted and replaced with Exhibit A to this Amendment No. 2.
To record the adoption of this Amendment No. 2, Arena Pharmaceuticals, Inc., has caused its duly authorized officer to execute the same this 25th day of February 2014.
| Arena Pharmaceuticals, Inc. |
| /s/ Jack Lief |
| Jack Lief |
| President and Chief Executive Officer |
EXHIBIT A
| PARTICIPANT: | SEVERANCE PERIOD (IN MONTHS): | |||
| JACK LIEF | 18 | |||
| DOMINIC BEHAN | 18 | |||
| STEVEN SPECTOR | 18 | |||
| CRAIG AUDET | 12 | |||
| ROBERT HOFFMAN | 12 | |||
| WILLIAM SHANAHAN | 12 | |||
