Document:

Exhibit 10.1(g)

SIXTH AMENDMENT

THIS SIXTH AMENDMENT (this
“Amendment”) dated as of January 12,
2007 to the Credit Agreement referenced below is by and among Advance America,
Cash Advance Centers, Inc., a Delaware corporation (the “Borrower”), the Guarantors identified on the signature pages hereto
(the “Guarantors”), the Lenders identified on
the signature pages hereto and Bank of America, N.A., as administrative
agent (in such capacity, the “Administrative Agent”).

WITNESSETH

WHEREAS, a revolving credit facility has been extended
to the Borrower pursuant to the Amended and Restated Credit Agreement (as
amended, modified and supplemented from time to time, the “Credit
Agreement”) dated as of July 16, 2004 among the Borrower, the
Guarantors, the Lenders identified therein and the Administrative Agent; and

WHEREAS, the Borrower has requested certain
modifications to the Credit Agreement and the Required Lenders have agreed to
the requested modifications on the terms and conditions set forth herein.

NOW, THEREFORE, IN
CONSIDERATION of the premises and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

1.    Defined Terms. Capitalized
terms used herein but not otherwise defined herein shall have the meanings
provided to such terms in the Credit Agreement.

2.    Amendments to the Credit Agreement.
The Credit Agreement is amended in the following respects:

2.1         The following definitions
are added to Section 1.1:

“Applicable Amount”
means, on any date, an amount equal to (a) $40 million less (b) the cash consideration (including any
Indebtedness assumed) paid by the Borrower and its Subsidiaries in respect of
all Acquisitions (excluding acquisitions consented to in writing by the
Required Lenders) after the Closing Date to and including such date less (c) the aggregate outstanding amount of Foreign
Subsidiary Investments as of such date.

“MoneyGram”
means MoneyGram Payment Systems, Inc. and its successors and assigns.

“MoneyGram Funds”
means all proceeds of all MoneyGram Transactions, including, but not limited
to, consumer fees, face amounts of money orders, money transfer checks,
principal amounts of bill payments, money transfers and reloads to existing
MoneyGram pre-paid cards, in each case collected by the Borrower or any
Subsidiary as agent for MoneyGram.

“MoneyGram Transactions”
means the sale by the Borrower or any Subsidiary, as agent for MoneyGram, of
Services.

“Services” means and shall be limited to providing MoneyGram
money orders, MoneyGram cash transfers (send and receive), reloads to existing
MoneyGram pre-paid cards and MoneyGram’s “Express Pay” service.

2.2   In the definition of “Permitted Investments” in Section 1.1,
clause (j) is renumbered clause (k) and a new clause (j) is
inserted to read as follows:

(j)     Investments
by members of the Consolidated Group in and to Foreign Subsidiaries (“Foreign Subsidiary Investments”) so long as, after taking
into account any such Investment, the Applicable Amount is equal to or greater
than $0;

2.3   In the
definition of “Permitted Liens” in Section 1.1, the “and” at the end of
clause (n) is deleted, the period at the end of clause (o) is amended
to read “; and” and a new clause (p) is added to read as follows:

(p)   Liens in
favor of MoneyGram in the MoneyGram Funds.

2.4   In Section 7.11,
clause (b) is amended to read as follows:

(b)   At any time
any Person becomes a Foreign Subsidiary, to the extent permitted under
applicable law, within 30 days thereof, deliver stock certificates and related
pledge agreements or pledge joinder agreements evidencing the pledge of 65% (or
such greater percentage that, due to a change in an applicable law after the
date hereof, (1) could not reasonably be expected to cause the
undistributed earnings of such Foreign Subsidiary as determined for United
States federal income tax purposes to be treated as a deemed dividend to such
Foreign Subsidiary’s United States parent and (2) could not reasonably be
expected to cause any material adverse tax consequences) of the issued and
outstanding Capital Stock entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2))
and 100% of the issued and outstanding Capital Stock not entitled to vote
(within the meaning of Treas. Reg. Section 1.956-2(c)(2)) in each
Foreign Subsidiary directly owned by any Credit Party to be subject at all
times to a first priority, perfected Lien in favor of the Administrative Agent
to secure the Obligations, together with opinions of counsel and any filings
and deliveries necessary or appropriate, as determined by the Administrative
Agent in its reasonable discretion, in connection therewith to perfect the
security interests therein, all in form and substance reasonably satisfactory
to the Administrative Agent.

2.5   Section 8.4(a) is
amended to read as follows:

(a)    after
taking into account such Acquisition, the Applicable Amount is equal to or
greater than $0;

2.6   Section 8.10
of the Credit Agreement is amended to read as follows:

8.10 [Reserved.]

2.7   Section 8.11
of the Credit Agreement is amended to read as follows:

8.11 [Reserved.]

3.   Consent to Entering into MoneyGram Transactions.   Notwithstanding
anything in the first sentence of Section 7.5 of the Credit Agreement to
the contrary, the Required Lenders consent to the Credit Parties entering into
MoneyGram Transactions.

4.   Amendment to the Security Agreement.   In the
penultimate paragraph of Section 2 of the Security Agreement, the phrase “and
(ii)” is is amended to read “, (ii)” and the phrase “and (iii) the
MoneyGram Funds” is added at the end of such paragraph.

 2
 

5.   Release of Liens.   The Required Lenders hereby
authorize the Administrative Agent to, and the Administrative Agent hereby
does, release from the Liens granted by the Credit Parties to the
Administrative Agent in the Security Agreement any and all MoneyGram Funds.

6.   Conditions Precedent.   This Amendment shall be
effective as of the date hereof upon execution of this Amendment by the Credit
Parties and the Required Lenders.

7.   Reaffirmation of Representations and Warranties.   The
Borrower and each Guarantor represents and warrants that, after giving effect
to this Amendment, the representations and warranties set forth in the Credit
Agreement and the other Credit Documents are true and correct in all material
respects as of the date hereof (except those that expressly relate to an
earlier period).

8.   Reaffirmation of Guaranty.   Each Guarantor (a) acknowledges
and consents to all of the terms and conditions of this Amendment, (b) affirms
all of its obligations under the Credit Documents and (c) agrees that this
Amendment and all documents executed in connection herewith do not operate to
reduce or discharge such Guarantor’s obligations under the Credit Documents.

9.   Reaffirmation of Security Interests.   The
Borrower and each Guarantor (i) affirms that each of the Liens granted in
or pursuant to the Credit Documents are valid and subsisting (except for the
Liens expressly released in Section 4 above) and (ii) agrees that
this Amendment shall in no manner impair or otherwise adversely effect any of
the Liens (except for the Liens expressly released in Section 4 above)
granted in or pursuant to the Credit Documents.

10.   No Other Changes.   Except
as modified hereby, all of the terms and provisions of the Credit Documents
(including schedules and exhibits thereto) shall remain in full force and
effect.

11.   Counterparts; Facsimile Delivery.   This
Amendment may be executed in any number of counterparts, each of which when so
executed and delivered shall be deemed an original and it shall not be
necessary in making proof of this Amendment to produce or account for more than
one such counterpart. Delivery of an executed counterpart of this Amendment by
facsimile shall be effective as an original.

12.   Governing Law.   This
Amendment shall be deemed to be a contract made under, and for all purposes
shall be construed in accordance with, the laws of the State of North Carolina.

[Signature Pages Follow]

 3
 

IN WITNESS WHEREOF, each of the parties hereto has caused
a counterpart of this Sixth Amendment to be duly executed and delivered as of
the date first above written.

BORROWER:

ADVANCE AMERICA, CASH
ADVANCE CENTERS, INC., a Delaware corporation

	
  By:

  	
   

  	
  /s/ KENNETH E. COMPTON

  	
   

  
	
  Name: Kenneth E. Compton

  	
   

  
	
  Title: Chief Executive Officer and President

  	
   

  

 

GUARANTORS:

AARC, INC., a Delaware
corporation

	
  By:  

  	
   

  	
  /s/ MONICA L. ALLIE

  	
   

  
	
  Name: Monica L. Allie

  	
   

  
	
  Title: President

  	
   

  

 

ADVANCE AMERICA SERVICING
OF ARKANSAS, INC., a Delaware corporation

ADVANCE AMERICA SERVICING
OF INDIANA, INC., a Delaware corporation

ADVANCE AMERICA LEASING
SERVICES, INC., a Delaware corporation

AAIC, INC., a Delaware
corporation

ADVANCE AMERICA, CASH ADVANCE
CENTERS OF ALABAMA, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF ALASKA, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF ARIZONA, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF ARKANSAS, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF CALIFORNIA, LLC, a Delaware limited liability company

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF COLORADO, LLC, a Delaware limited liability company

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF CONNECTICUT, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF DELAWARE, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF DISTRICT OF COLUMBIA, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF FLORIDA, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF GEORGIA, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF HAWAII, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF IDAHO, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF ILLINOIS, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF INDIANA, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF IOWA, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF KANSAS, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF KENTUCKY, INC., a Delaware corporation

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF LOUISIANA, LLC, a Delaware limited liability company

ADVANCE AMERICA, CASH
ADVANCE CENTERS OF MAINE, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF MARYLAND, INC., a Delaware corporation

	
  By:  

  	
   

  	
  /s/ KENNETH E. COMPTON

  	
   

  
	
  Name: Kenneth E. Compton

  	
   

  
	
  Title: Chief Executive Officer and President

  	
   

  

 

 4
 

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF MASSACHUSETTS, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF MICHIGAN, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF MINNESOTA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF MISSISSIPPI, LLC, a Delaware limited liability
company

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF MISSOURI, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF MONTANA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF NEBRASKA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF NEVADA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF NEW HAMPSHIRE, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF NEW JERSEY, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF NEW MEXICO, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF NEW YORK, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF NORTH CAROLINA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF NORTH DAKOTA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF OHIO, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF OKLAHOMA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF OREGON, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF PENNSYLVANIA, LLC, a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF RHODE ISLAND, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF SOUTH CAROLINA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF SOUTH DAKOTA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF TENNESSEE, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF TEXAS, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF UTAH, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS-OF VERMONT, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF VIRGINIA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF WASHINGTON, LLC, a Delaware limited liability
company

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF WEST VIRGINIA, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF WISCONSIN, INC., a Delaware corporation

ADVANCE
AMERICA, CASH ADVANCE CENTERS OF WYOMING, INC., a Delaware corporation

ADVANCE
AMERICA SERVICING OF GEORGIA, INC., a Delaware corporation

MCKENZIE
CHECK ADVANCE OF ALABAMA, L.L.C., a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF ARKANSAS, LLC, a Tennessee limited liability company

 5
 

MCKENZIE
CHECK ADVANCE OF COLORADO, LLC, a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF INDIANA, LLC, a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF IOWA, L.L.C., a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF KANSAS, LLC, a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF MISSISSIPPI, LLC, a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF NEBRASKA, LLC, a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF NEW JERSEY, L.L.C., a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF OHIO, LLC, a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF OREGON, LLC, a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF WASHINGTON, L.L.C., a Tennessee limited liability company

MCKENZIE
CHECK ADVANCE OF WISCONSIN, LLC, a Tennessee limited liability company

NCA
OF MISSOURI, INC., a Delaware corporation

NCAS
OF DELAWARE, LLC, a Delaware limited liability company

NCAS OF NEW JERSEY, LLC, a Delaware limited liability
company

	
  By:  

  	
   

  	
  /s/ KENNETH E. COMPTON

  	
   

  
	
  Name: Kenneth E. Compton

  	
   

  
	
  Title: Chief Executive Officer and President

  	
   

  

 

 6
 

AA
CHALLENGER, LLC, a Delaware limited liability company

AA
AIR, LLC, a Delaware limited liability company

ADVANCE
AMERICA MONEY.COM, INC., a Delaware corporation

ACSO OF MICHIGAN, INC., a Delaware corporation

	
  By:  

  	
   

  	
  /s/ KENNETH E. COMPTON

  	
   

  
	
  Name: Kenneth E. Compton

  	
   

  
	
  Title: Chief Executive Officer and President

  	
   

  

 

ACSO OF TEXAS,
L.P.,

a Texas limited partnership

ADVANCE AMERICA SERVICING OF TEXAS, L.P.,

a Texas limited partnership

By:        ADVANCE AMERICA, CASH
ADVANCE CENTERS OF TEXAS, INC., 

a Delaware corporation and its general partner

	
  By:  

  	
   

  	
  /s/ KENNETH E. COMPTON

  	
   

  
	
  Name: Kenneth E. Compton

  	
   

  
	
  Title: Chief Executive Officer and President

  	
   

  

 

W.P.S. SYSTEMS, LTD. OF NEW ENGLAND,

a Rhode Island corporation

By:        ADVANCE AMERICA, CASH
ADVANCE CENTERS OF RHODE ISLAND, INC., 
  a Delaware corporation

	
  By:  

  	
   

  	
  /s/ KENNETH E. COMPTON

  	
   

  
	
  Name: Kenneth E. Compton

  	
   

  
	
  Title: Chief Executive Officer and President

  	
   

  

 

 7
 

 

NCA OF LOUISIANA, LLC, a Delaware
limited liability company

	
  By:  

  	
   

  	
  /s/ KENNETH E. COMPTON

  	
   

  
	
  Name: Kenneth E. Compton

  	
   

  
	
  Title: Chief Executive Officer and President

  	
   

  

 8
 

 

	
  ADMINISTRATIVE

  	
  BANK OF AMERICA, N.A., as Administrative Agent

  
	
  AGENT:

  	
   

  
	
   

  	
  By:

  	
  /s/
  MICHAEL BRASHIER

  
	
   

  	
  Name: Michael Brashier

  
	
   

  	
  Title: Vice President

  
	
   

  	
  BANK OF AMERICA, N.A.,
  as a Lender

  
	
  LENDERS:

  	
  By:

  	
  /s/
  SCOTT K. MITCHELL

  
	
   

  	
  Name: Scott K. Mitchell

  
	
   

  	
  Title: Senior Vice President

  
	
   

  	
  WACHOVIA BANK, NATIONAL
  ASSOCIATION

  
	
   

  	
  By:

  	
  /s/
  DAVID S. SAMPSON

  
	
   

  	
  Name: David S. Sampson

  
	
   

  	
  Title: Senior Vice President

  
	
   

  	
  U.S. BANK NATIONAL
  ASSOCIATION

  
	
   

  	
  By:

  	
  /s/
  JULI K. VAN HOOK

  
	
   

  	
  Name: Juli K. Van Hook

  
	
   

  	
  Title: Vice President

  
	
   

  	
  WELLS FARGO BANK, N.A.

  
	
   

  	
  By:

  	
  /s/
  KEVIN DOWDLE

  
	
   

  	
  Name: Kevin Dowdle

  
	
   

  	
  Title: Vice President

  
	
   

  	
  NATIONAL CITY BANK

  
	
   

  	
  By:

  	
  /s/
  MICHAEL J. DURBIN

  
	
   

  	
  Name: Michael J. Durbin

  
	
   

  	
  Title: Senior Vice President

  
	
   

  	
  NATIONAL CITY BANK OF
  PENNSYLVANIA

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 9
 

 

	
  

  	
  NATIONAL BANK OF SOUTH CAROLINA

  
	
   

  	
  By:

  	
  /s/
  LAM B. BRITTON

  
	
   

  	
  Name: Lam B. Britton

  
	
   

  	
  Title: Senior Vice President

  
	
   

  	
  CAROLINA FIRST BANK

  
	
   

  	
  By:

  	
  /s/
  CHARLES D. CHAMBERLAIN

  
	
   

  	
  Name: Charles D. Chamberlain

  
	
   

  	
  Title: Executive Vice President

  
	
   

  	
  FIRST TENNESSEE BANK
  NATIONAL ASSOCIATION

  
	
   

  	
  By:

  	
  /s/
  C. REID HARDEN

  
	
   

  	
  Name: C. Reid Harden

  
	
   

  	
  Title: Vice President

  
	
   

  	
  BRANCH BANKING AND TRUST
  COMPANY

  
	
   

  	
  By:

  	
  /s/
  STAN PARKER

  
	
   

  	
  Name: Stan Parker

  
	
   

  	
  Title: Senior Vice President

  
	
   

  	
  TEXAS CAPITAL BANK, NA

  
	
   

  	
  By:

  	
  /s/
  RUSSELL HARTSFIELD

  
	
   

  	
  Name: Russell Hartsfield

  
	
   

  	
  Title: Executive Vice President

  

 

 10Exhibit 10.1

Arena Pharmaceuticals, Inc. 2006 Long-Term Incentive Plan

2007
Performance-Based

Restricted Stock Unit Grant Agreement

THIS
GRANT AGREEMENT (this “Agreement”),
effective as of                          (the
“Grant Date”) between Arena Pharmaceuticals, Inc., a Delaware corporation (the “Company”),
and                         (the
“Participant”).

1.             Grant of Restricted Stock Units.  The Company hereby grants to the Participant                
Restricted Stock Units.  Each Restricted
Stock Unit shall be deemed to be the equivalent of one Share.

2.             Subject
to the Plan.  This
Agreement is subject to the provisions of the Arena Pharmaceuticals, Inc. 2006
Long-Term Incentive Plan (the “Plan”) and, unless the context requires
otherwise, terms used herein shall have the same meaning as in the Plan.  In the event of a conflict between the
provisions of the Plan and this Agreement, the Plan shall control.  Capitalized terms not explicitly defined in
this Agreement but defined in the Plan shall have the same definitions as in
the Plan.

3.             Account.  The Company shall credit to a bookkeeping
account (the “Account”) maintained by the Company for the Participant’s benefit
the Restricted Stock Units.  On each date
that cash dividends are paid on the Shares, the Company will credit the Account
with a number of additional Restricted Stock Units equal to the result of
dividing (i) the product of the total number of Restricted Stock Units
credited to the Account on the record date for such dividend and the per Share
amount of such dividend by (ii) the Fair Market Value of one Share on the
date such dividend is paid by the Company to stockholders.  The additional Restricted Stock Units shall
be or become vested to the same extent as the Restricted Stock Units that
resulted in the crediting of such additional Restricted Stock Units.

4.             Vesting.  Except as provided in Sections 6(b), 6(c) and
10 of this Agreement, provided (i) the
Committee determines that one or more of the Performance Goals are achieved on
or before February 26, 2012 and (ii) the Participant is an Employee or, if
applicable, a Director, on February 26, 2012, the Restricted Stock Units
shall vest in the following percentages:

	
  Number of

  	
   

  	
  Vested Restricted

  	
   

  
	
  Performance Goals Achieved

  	
   

  	
  Stock Units

  	
   

  
	
  1

  	
   

  	
  25

  	
  %

  
	
  2

  	
   

  	
  50

  	
  %

  
	
  3

  	
   

  	
  75

  	
  %

  
	
  4

  	
   

  	
  100

  	
  %

  

 

For
purposes of this Section 4, the “Performance Goals” are as follows:

1.             Approval of lorcaserin (the Company’s
drug candidate for obesity) by the U.S. Food and Drug Administration, which
approval continues to be in effect on the applicable vesting date;

2.             Net sales of lorcaserin by the
Company or, if applicable, its partners or licensors, equal to $250,000,000
during any consecutive six-month period, determined in accordance with
Generally Accepted Accounting Principles and consistent with the Company’s or
the partners’ or licensors’ revenue recognition policies;

3.             One successful phase 3 (as defined
by 21 C.F.R. section 312.21(c)) clinical trial of a drug candidate (other than
lorcaserin) of the Company or, if applicable, under one of its partnerships or
license arrangements. “Successful” means the phase 3 clinical trial results
meet the primary efficacy endpoint and could be used, or were used, as a
pivotal study in support of a New Drug Application; and

4.             Successful phase 2 (as defined by
21 C.F.R. section 312.21(b)) clinical trials on two drug candidates (other than
lorcaserin or a drug candidate that satisfied goal 3 above) of the Company or
under one of its partnerships or license arrangements. “Successful” means
either that (i) there were statistically significant efficacy results and such
results support proceeding with an additional phase 2 or a phase 3 (as defined
by 21 C.F.R. section 312.21(b) or (c), respectively) clinical trial or (ii)
screening of patients in a phase 3 clinical trial has been commenced.

The Committee shall have the right to determine, in its sole and
exclusive discretion, whether a Performance Goal has been achieved.  In addition, the Committee reserves the right
to reasonably determine, in its sole and exclusive discretion, whether a
Performance Goal is not achievable on or before February 26, 2012.  If the Committee determines that a particular
Performance Goal is not achievable on or before February 26, 2012, then the
number of Restricted Stock Units subject to this Agreement shall be reduced, as
applicable, to reflect the failure to achieve such Performance Goal, and the
Restricted Stock Units associated with achieving such Performance Goal will
expire immediately upon such determination.

5.             Capitalization Adjustments. The number of Restricted Stock Units
credited to the Account shall be
equitably and appropriately adjusted as provided in Section 12.2 of the Plan.

6.             Termination of Employment.

(a)  Termination of Employment Other Than Due to Death or Disability.  In
the event the Participant ceases to be an Employee and, if applicable, a
Director, for any reason other than as a result of death or Disability, the
Restricted Stock Units credited to the Account that were not vested on the date
of such termination shall be immediately forfeited.

(b)  Death. 
In the event of the Participant’s death, provided that one or more of
the Performance Goals has been achieved on or before such date, the number of Restricted
Stock 

 2
 

Units credited to the
Account that would vest
had the Participant remained an employee of the Company through February 26,
2012 (based on the achievement of only those Performance Goals actually
achieved as of the date of death) shall instead vest immediately upon the date
of such Participant’s death or, if applicable, the date after such death that
the Committee determines the Performance Goals had been achieved as of the date
of death.

(c)  Disability. In the
event that the Participant ceases to be an Employee by reason of Disability,
provided that one or more of the Performance Goals has been achieved on or
before such date, the number of Restricted Stock Units credited to the
Account that would vest had the
Participant remained an employee of the Company through February 26, 2012
(based on the achievement of only those Performance Goals actually achieved as
of the date of Disability) shall instead vest immediately upon the date of
Disability or, if applicable, the date after such disability that the Committee
determines the Performance Goals had been achieved as of the date of
Disability.  For purposes of this
Agreement, “Disability” shall mean the Participant’s becoming disabled within
the meaning of Section 22(e)(3) of the Code, or as otherwise determined by the
Committee in its discretion. The Committee may require such proof of Disability
as the Committee in its sole and absolute discretion deems appropriate and the
Committee’s determination as to whether the Participant has incurred a
Disability shall be final and binding on all parties concerned.

7.             Payment of Shares.  The
Company shall make a payment to the Participant of Shares based on the number
of the vested Restricted Stock Units credited to the Participant’s Account upon
the date the Restricted Stock Units vest. 
Notwithstanding the foregoing, in the event that the Company determines
that any Shares are scheduled under this Agreement to be delivered on a day
(the “Original Distribution Date”) on which a sale by the Participant of Shares
would violate any of the provisions of the federal securities laws (or any
Company policy related thereto), as determined by the Company, then such Shares
shall not be delivered on such Original Distribution Date and shall instead be
delivered as soon as practicable on the date on which the sale of Shares would
not be a violation of the federal securities laws (or a related Company
policy); provided, however, that in no event shall the delivery of the Shares
be delayed pursuant to this provision beyond the later of: (a) December 31st of
the same calendar year of the Original Distribution Date, or (b) the 15th day
of the third calendar month following the Original Distribution Date.

The Participant may elect, in
accordance with procedures adopted by the Company, to change the payment date
determined in accordance with the first sentence of the preceding paragraph by
written notice to the Company at least 12 months prior to the payment date,
provided that the new payment date must be at least five years after the
previously applicable payment date.

8.             Form of Payment.  Payments pursuant to Section 7 shall be made in Shares equal to the
number of vested Restricted Stock Units credited to the Account.  Payment shall be made as soon as practicable
after the applicable payment date, but in no event later than 30 days after the
date established pursuant to Section 7.

 3
 

9.             Beneficiary.  In  the event of the Participant’s death prior to payment of
the Restricted Stock Units credited to the Account, payment shall be made to
the last beneficiary designated in writing that is received by the Company
prior to the Participant’s death or, if no designated beneficiary survives the
Participant, such payment shall be made to the Participant’s estate.

10.          Change in Control;
Corporate Transaction.

(a)  Effect of Change
in Control on Restricted
Stock Units.  In the event of a Change in Control, the
Surviving Corporation or the Parent Corporation, if applicable, may
assume or substitute for the Restricted Stock Units credited to the Account on
substantially the same terms and conditions (which may include payment in
shares of the common stock of the Surviving
Corporation or the Parent Corporation). 
In the event of a Change in
Control, to the extent the Surviving Corporation or the Parent Corporation, if
applicable, does not assume or substitute for the Restricted Stock Units
credited to the Account on substantially the same terms and conditions (which
may include payment in shares of the common stock of the Surviving Corporation or the Parent
Corporation), that portion of the Restricted Stock Units that would have
vested had (i) the Surviving Corporation or the Parent Corporation, if
applicable, assumed the Restricted Stock Units and (ii) the Participant
remained an Employee through February 26, 2012 (based in the achievement of
only those Performance Goals actually achieved as of the date of the Change in
Control), shall become vested immediately prior to the Change in Control,
provided the Participant is then an Employee or, if applicable, a Director.  In
the event of a Change in Control, to the extent the Surviving Corporation or the Parent
Corporation, if applicable, does assume or substitute for the Restricted
Stock Units credited to the Account on substantially the same terms and
conditions (which may include payment in shares of the common stock of the Surviving Corporation or the Parent
Corporation) and within 24 months thereafter the Participant ceases to
be an Employee by reason of (x) an
involuntary termination without Cause, or (y) a voluntary termination in connection with a Relocation
Requirement, that portion of the Restricted Stock Units that would have
vested had (I) the Surviving Corporation or the Parent Corporation, if
applicable, assumed the Restricted Stock Units and (II) the Participant
remained an Employee through February 26, 2012 (based in the achievement of
only those Performance Goals actually achieved as of the date of such
termination), shall become fully vested on the date Participant ceases to be an
Employee.

For purposes of this Agreement (i) if the Company is the Surviving
Corporation or the Parent Corporation, if applicable, it shall be deemed to
have assumed the Restricted Stock Units unless it takes explicit action to the
contrary; (ii) “Relocation Requirement” shall mean a requirement by the
Company, the Surviving Corporation or an affiliate thereof that the Participant
be based anywhere more than fifty (50) miles from both the Participant’s
primary office location at the time of the Change in Control and the
Participant’s principal residence at the time of the Change in Control; and
(iii) “Cause” shall mean: a finding by the Committee that the Participant has
breached his or her employment agreement with the Company, or has been engaged
in disloyalty to the Company, including, without limitation, fraud,
embezzlement, theft, commission of a felony or proven dishonesty in the course
of his or her employment, or has 

 4
 

disclosed
trade secrets or confidential information of the Company to persons not
entitled to receive such information, or has breached any written
noncompetition or nonsolicitation agreement between the Participant and the
Company or has engaged in such other behavior detrimental to the interests of
the Company as the Committee determines.

(b)  Effect of Corporate
Transaction on Restricted Stock Units.  In
the event of a Corporate Transaction that is not a Change in Control, any
surviving corporation or acquiring corporation (or the surviving or acquiring
corporation’s parent company) may assume, continue or substitute for the Restricted
Stock Units credited to the Account on
substantially the same terms and conditions (which may include payment
in shares of the common stock of the surviving
corporation, acquiring corporation, or the surviving or acquiring corporation’s
parent company).   In the event of a
Corporate Transaction that is not a Change in Control, then notwithstanding
Section 11 of the Plan and paragraph (a) of this Section, to the extent that
the surviving corporation or acquiring corporation (or its parent company) does
not assume, continue or substitute for the Restricted Stock Units
credited to the Account on
substantially the same terms and conditions (which may include payment
in shares of the common stock of the surviving
corporation, acquiring corporation, or the surviving or acquiring corporation’s
parent company), then that portion of the Restricted Stock Units that
would have vested had (i) the Surviving Corporation or the Parent Corporation,
if applicable, assumed the Restricted Stock Units and (ii) the Participant
remained an Employee through February 26, 2012 (based in the achievement of
only those Performance Goals actually achieved as of the date of the Corporate
Transaction), shall become fully vested immediately  prior to the Corporate Transaction if the Participant is
then an Employee or, if applicable, a Director.

For purposes of this Agreement, “Corporate Transaction” means (i) the
consummation of a merger, consolidation or similar transaction following which
the Company is not the surviving corporation; or (ii) the consummation of a
merger, consolidation or similar transaction following which the Company is the
surviving corporation but the Shares outstanding immediately preceding the
merger, consolidation or similar transaction are converted or exchanged by
virtue of the merger, consolidation or similar transaction into other property,
whether in the form of securities, cash or otherwise.  Notwithstanding the foregoing, a “Corporate
Transaction” shall not include a transaction that is effected exclusively for
the purpose of changing the domicile of the Company.

(c)  Other Agreement or Plan.  The provisions of this Section, shall not  be superseded by the specific provisions, if any, of a
written employment or severance agreement between the Participant and the
Company or a severance plan of the Company covering the Participant, including
a change in control severance agreement or plan, even if such a provision in
such other agreement or plan provides a greater benefit to the Participant.

11.          Source of Payments.  The Participant’s right to receive payment
under this Agreement shall be an unfunded entitlement and shall be an unsecured
claim against the general assets of the Company.  The Participant has only the status of a
general unsecured creditor hereunder, and this Agreement constitutes only a
promise by the Company to pay the value of the Account on the payment date.

 5
 

12.          Nontransferability. 
Except to the extent and under such terms and conditions as determined
by the Committee, the Restricted Stock Units shall not be transferable
otherwise than by will or the laws of descent and distribution or as provided
in Section 9.

13.          Withholding.   The Participant agrees to pay to the
Company, or to make satisfactory arrangement with the Company for payment of,
any federal, state or local taxes, if any, required by law to be withheld in
respect of the payment of the Restricted Stock Units. The Participant hereby
agrees that the Company may withhold from Participant’s wages or other
remuneration the applicable taxes. At the discretion of the Company, the
applicable taxes may be withheld in kind from the Shares otherwise deliverable
to the Participant on the payment of the Restricted Stock Units.

14.          No Rights of a Stockholder.  The Participant shall not have any of the
rights of a stockholder with respect to the Shares subject to the Restricted
Stock Units until such Shares have been issued.

15.          Notices.  All notices required or permitted under this
Agreement shall be in writing and shall be sufficiently made or given if hand
delivered or mailed by registered or certified mail postage prepaid.  Notice by mail shall be deemed delivered at
the time and on the date the same is postmarked.

Notices to the Company should be addressed to:

Arena Pharmaceuticals,
Inc.

6166 Nancy Ridge Drive

San Diego, California
92121

Attention:  Chief Financial
Officer

With a copy to:  General Counsel

Notices to the
Participant should be addressed to the Participant at the Participant’s address
as it appears on the Company’s records.

The Company or the
Participant may by writing to the other party, designate a different address
for notices.

If the receiving party consents in advance, notice may be transmitted
and received via telecopy or via such other electronic transmission mechanism
as may be available to the parties.  Such
notices shall be deemed delivered when received.

16.              Headings.  The headings in this Agreement are for
reference purposes only and shall not affect the meaning or interpretation of
this Agreement.

 6
 

17.              Governing Law.  This Agreement shall be governed by, and
interpreted in accordance with, the laws of the State of Delaware, other than
its conflict of laws principles.

18.              Agreement Not a Contract.  This Agreement (and the grant of Restricted
Stock Units) is not an employment or service contract, and nothing in this
Agreement shall be deemed to create in any way whatsoever any obligation on
Participant’s part to continue as an Employee, or of the Company or a
Subsidiary to continue Participant’s service as an Employee.  The grant of the Restricted Stock Units, or
any modification thereof, is not is intended to confer, nor shall it be
construed to confer, any legal or equitable rights to continued employment.  Participant’s employment shall remain
at-will, if applicable, and subject to termination by the Company at any time,
with or without cause or notice.

19.              Entire Agreement; Modification.  This Agreement and the Plan constitute the
entire agreement between the parties relative to the subject matter herein and may
not be modified, except as provided in
the Plan or in a written document signed by each of the parties hereto,
and may be rescinded only by a written agreement executed by both parties.

 7
 

20.              Compliance with Section 409A of the Code.

(a)  Automatic Delay of Payment.  Notwithstanding anything contained in this
Agreement to the contrary, if the Company determines that as of the date of
payment the Participant is a “specified employee” (as such term is defined
under Section 409A of the Code), any Shares (or shares of the common stock of
the successor company in the event of a Change in Control) payable by reason of
the Participant’s termination of employment with the Company and its
Subsidiaries for any reason other than death or “disability” (as such term is
defined under Section 409A of the Code) will not be paid until the date that is
six months following the date of termination of employment (or such earlier
time permitted under Section 409A of the Code without the imposition of any
accelerated or additional taxes under Section 409A of the Code).

(b)  General. This Agreement is intended to
comply and shall be administered in a manner that is intended to comply with
section 409A of the Code and shall be construed and interpreted in accordance
with such intent.  Payment under this
Agreement shall be made in a manner that will comply with section 409A of the
Code, including regulations or other guidance issued with respect thereto, as
determined by the Committee.  Any
provision of this Agreement that would cause the payment or settlement thereof
to fail to satisfy section 409A of the Code shall be amended to comply with
section 409A of the Code on a timely basis, which may be made on a retroactive
basis, in accordance with regulations and other guidance issued under section
409A of the Code.

21.              Severability.  If
any provision of this Agreement shall be held unlawful or otherwise invalid or
unenforceable in whole or in part by a court of competent jurisdiction, such
provision shall (i) be deemed limited to the extent that such court of
competent jurisdiction deems it lawful, valid and/or enforceable and as so
limited shall remain in full force and effect, and (ii) not affect any other
provision of this Agreement or part thereof, each of which shall remain in full
force and effect.

IN
WITNESS WHEREOF, the parties have executed this Agreement
effective as of the Grant Date.

	
  

  	
   

  	
  ARENA PHARMACEUTICALS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Participant

  

 

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