Document:

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March 4, 1998

VIA HAND DELIVERY

Thomas H. Aasen
17823 Toltec Court
San Diego, CA  92127

Dear Tom:

As discussed, I am pleased to offer you the position of Vice President - Chief
Financial Officer of ACADIA Pharmacuticals Inc. I firmly believe that with your
joining our team, ACADIA Pharmaceuticals will have the potential to not only
quickly surpass such short term goals as completing additional significant
corporate partnerships and a successful public offering, but that we will be
able to flourish in facing the challenges to be met in the years ahead as we
build an extremely valuable, technology driven, integrated drug discovery
company. All of us associated with ACADIA Pharmaceuticals look forward to
working with you. The terms of our offer are as follows:

1.       Your title will be Vice President - Chief Financial Officer (or in such
         other position as the Company or its Board may determine) and you will
         report to the Chief Excutive Officer of the Company. As discussed, you
         will be a key member of the senior management team and you will be
         involved in virtually all important decisions on the strategy and
         future operations of the Company. Your initial duties will encompass
         all financial matters as well as legal, human resources, and other
         matters. You agree to devote all of your business time, attention and
         energies to the business of the Company.

2.       Your initial annual salary will be $160,000, subject to adjustment as
         determined by the Board as of January 1 of each year.

3.       You will be eligible to receive an annual bonus with a target of 20% of
         the base salary you receive in each calendar year payable within 90
         days of the end of such Calendar year. The amount of the annual bonus
         will be determined by the Board of Directors based upon your individual
         performance and the financial performance of the Company.

4.       The Company will also provide you a signing bonus of $20,000 payable
         immediately after your beginning employment with ACADIA Pharmaceuticals
         Inc. You agree to return such bonus to the Company if you voluntarily
         terminate your employment within six months of the start date of your
         employment.

5.       Naturally, what I consider to be the most important part of your
         compensation is your participation in the Company's stock option plan.
         You will receive stock options that

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         will vest 25% after 12 months of employment with additional vesting of
         1/48% after each additional month of employment through your 48th
         month of employment with the Company. The stock options that you will
         be entitled to, subject to the aforementioned vesting schedule and
         other terms of the plan, will be equal to options to purchase 75,000
         shares of common stock of the Company. The exercise price at which
         these options will be issued will be equal to the fair market value of
         the common shares of the Company at the date of grant of the options,
         which will be the start date of your employment. In the event the
         company is acquired or completes an Acquisition Event as defined in
         the Company"s 1997 Stock Option Plan, any unvested options you then
         hold will be immediately vested, subject to your continued employment
         for a period of at least six months following the completion of the
         Acquisition Event if so requested by the Company. Enclosed is a copy
         of the ACADIA Pharmaceuticals 1997 Stock Option Plan. Note that there
         are currently approximately 7.4 million common equivalent shares
         outstanding, fully diluted for the shares reserved for the 1997 Stock
         Option Plan.

6.       In the event the Company terminates your employment, other than for
         cause as defined below, you will receive severance in the form of the
         continuation of your salary for the one year period following the
         termination of your employment plus the benefits you were receiving at
         the time of your termination (subject to the terms of the Company's
         benefit plans).

         For purposes of the above, "cause" for termination shall be deemed to
         exist upon (a) a good faith finding by the Company of material failure
         of the Employee to perform his assigned duties for the Company,
         dishonesty, gross negligence or other material misconduct, or (b) the
         conviction of the Employee of, or the entry of a pleading of guilty or
         nolo contendere by the Employee to, any crime involving moral turpitude
         or any felony.

7.       You will be provided all of the standard company benefits, including
         four weeks paid vacation, health insurance, group term life and
         accidental death and dismemberment insurance, group disability
         insurance, travel accident insurance, and the ability to participate in
         the Company's 401k plan which includes matching of employees'
         contributions to the plan up to 5% of compensation. Enclosed is
         information regarding the Company's various benefit programs.

         With respect to the Company's matching of contributions to the 401k
         Plan up to 5% of compensation, note that it is the intention of the
         Company to provide the 5% payment to all employees interested in
         deferring 5% of their compensation even if their deferrals to the 401k
         plan are otherwise limited to less than 5% of total compensation due to
         various IRS rules. After you join the Company, and with your input, we
         can conclude on an appropriate non-qualified or other arrangement in
         this regard.

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8.       As a condition of your employment you will be required to agree to and
         sign the Company's standard Disclosure and Inventions Agreement, a copy
         of which is attached.

9.       The start date for your employment will be April 1, 1998 or other
         mutually agreeable date.

Tom, I am very confident that your joining the ACADIA team will prove extremely
beneficial to both you and the Company and its shareholders. If you have any
questions, please do not hesitate to call me at the office or at home, my home
number is (619) 793-4674. We would appreciate receiving your response to this
offer by March 9, 1998.

Sincerely yours,

/s/ Mark R. Brann

Mark R. Brann, Ph.D.
Founder, Chief Executive and Scientific Officer and President

I accept your offer to become Vice President - Chief Financial Officer of ACADIA
Pharmaceuticals Inc. in accordance with the terms included above:

Signature: /s/ Thomas H. Aasen                   Date: March 9, 1998
         -----------------------------------          ------------------------
                Thomas H. Aasen<PAGE>

                             SECURED PROMISSORY NOTE

$100,000.00                                                         May 11, 2000
                                                           San Diego, California

         FOR VALUE RECEIVED, ULI HACKSELL ("BORROWER"), an employee of ACADIA
PHARMACEUTICALS INC. ("COMPANY"), hereby unconditionally promises to pay to the
order of Company, in lawful money of the United States of America and in
immediately available funds, the principal sum of One Hundred Thousand Dollars
($100,000.00) (the "LOAN"), together with accrued and unpaid interest thereon,
each due and payable on the dates and in the manner set forth below.

         It is the intent of the parties that the purpose of this Note is not
for consumer, family or household purposes.

         This Secured Promissory Note is the Note referred to in and is executed
and delivered in connection with that certain Stock Pledge Agreement as of even
date herewith and executed and delivered by Borrower in favor of Company (as the
same may from time to time be amended, modified or supplemented or restated, the
"SECURITY AGREEMENT"). Additional rights of Company are set forth in the
Security Agreement. All capitalized terms used herein and not otherwise defined
herein shall have the respective meanings given to them in the Security
Agreement.

         1. INTEREST RATE. Borrower promises to pay interest on the outstanding
principal amount hereof from the date hereof until payment in full, which
interest shall be calculated at 9.0 percent per annum (the prime rate as
reported by Silicon Valley Bank (the "PRIME RATE")) or the maximum rate
permissible by law (which under the laws of the State of California shall be
deemed to be the laws relating to permissible rates of interest on commercial
loans), whichever is less. Interest shall be calculated on the basis of a 360
day year for the actual number of days elapsed.

         2. PRINCIPAL AND INTEREST REPAYMENT. The outstanding principal amount
and all accrued interest of the Loan shall be due and payable on the fourth
anniversary of this Note.

         3. INTEREST RATE UPON ACCELERATION. Any principal repayment or interest
payment on the Loan hereunder not paid when due, whether at stated maturity, by
acceleration or otherwise, shall bear interest at the Prime Rate plus 2% per
annum.

         4. PLACE OF PAYMENT; PREPAYMENT. All amounts payable hereunder shall be
payable at the office of Company unless another place of payment shall be
specified in writing by Company. Prepayment is permitted.

         5. APPLICATION OF PAYMENTS. Payment on this Note shall be applied first
to accrued interest and thereafter to the outstanding principal balance hereof.

         6. SECURED NOTE. The full amount of this Note is secured by the
collateral identified and described as security therefor in the Security
Agreement. Borrower shall not, directly or

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indirectly, create, permit or suffer to exist, and shall defend the
collateral against and take such other action as is necessary to remove, any
lien on or in the collateral, or in any portion thereof, except as permitted
pursuant to the Security Agreement.

         7. DEFAULT. Each of the following events shall be an "EVENT OF DEFAULT"
hereunder:

                  (a) Borrower fails to pay timely any of the principal amount
due under this Note on the date the same becomes due and payable or any accrued
interest or other amounts due under this Note, if any, on the date the same
becomes due and payable, or fails to perform any other obligations hereunder;

                  (b) Borrower files a petition or action for relief under any
bankruptcy, insolvency or moratorium law or any other law for the relief of, or
relating to, debtors, now or hereafter in effect, or makes any assignment for
the benefit of creditors or takes any action in furtherance of any of the
foregoing;

                  (c) An involuntary petition is filed against Borrower (unless
such petition is dismissed or discharged within sixty (60) days) under any
bankruptcy statute now or hereafter in effect, or a custodian, receiver,
trustee, assignee for the benefit of creditors (or other similar official) is
appointed to take possession, custody or control of any property of Borrower; or

                  (d) Borrower defaults on an obligation contained in the
Security Agreement; or

                  (e) Borrower's employment by or association with the Company
is terminated for any reason or no reason, including, without limitation, death
of Borrower.

Upon the occurrence of an Event of Default hereunder, all unpaid principal,
accrued interest and other amounts owing hereunder, if any, shall, at the option
of Company, and, in the case of an Event of Default pursuant to (b) or (c)
above, automatically, be immediately due, payable and collectible by Company
pursuant to applicable law. Notwithstanding the foregoing, if an Event of
Default has occurred under (d) above due to, in the Company's sole discretion,
no malfeasance or misfeasance on the part of Borrower, this Note shall be
accelerated on or after five (5) days' notice to Borrower or any successor. The
Company shall have all rights and may exercise any remedies available to it
under law, successively or concurrently. Borrower expressly acknowledges and
agrees that Company shall have the right to offset any obligations of Borrower
hereunder against salaries, bonuses or other amounts that may be payable to
Borrower by Company.

         8. WAIVER. Borrower waives presentment and demand for payment, notice
of dishonor, protest and notice of protest of this Note, and shall pay all costs
of collection when incurred, including, without limitation, reasonable
attorneys' fees, costs and other expenses.

         The right to plead any and all statutes of limitations as a defense to
any demands hereunder is hereby waived to the full extent permitted by law.

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         9. GOVERNING LAW. This Note shall be governed by, and construed and
enforced in accordance with, the laws of the State of California, excluding
conflict of laws principles that would cause the application of laws of any
other jurisdiction.

         10. SUCCESSORS AND ASSIGNS. The provisions of this Note shall inure to
the benefit of and be binding on any successor to Borrower and shall extend to
any holder hereof. Borrower shall not, without the prior written consent of
Company, assign any of its rights or obligations hereunder.

         Dated:  May 11, 2000

                                  ULI HACKSELL

                                  By: /s/ Uli Hacksell
                                      ------------------------------------------

                                  Printed Name: Uli Hacksell
                                                --------------------------------

                                  Title: EVP
                                         ---------------------------------------

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