Amendment No. 1 to Arena Pharmaceuticals, Inc. Amended and Restated Severance Benefit Plan
This amendment updates Arena Pharmaceuticals, Inc.'s Severance Benefit Plan, originally effective in 2006 and last amended in 2008. Effective February 10, 2012, the amendment replaces Exhibit A of the plan, specifying the severance periods for named executives, including Jack Lief, Dominic Behan, and Steven Spector (18 months), and William Shanahan and Robert Hoffman (12 months). The amendment is executed by Arena's President and CEO, Jack Lief.
Exhibit 10.1
AMENDMENT NO. 1 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, and amended and restated on December 30, 2008 (as amended, the “Plan ”), is hereby further amended as of February 10, 2012, by this Amendment No. 1 as follows:
Exhibit A of the Plan is deleted and replaced with Exhibit A to this Amendment No. 1.
To record the adoption of this Amendment No. 1, Arena Pharmaceuticals, Inc., has caused its duly authorized officer to execute the same this 13th day of February 2012.
| 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 | |
| WILLIAM SHANAHAN | 12 | |
| ROBERT HOFFMAN | 12 | |
