Document:

2004 Employee Stock Purchase Plan

 Exhibit 10.4 
  
 ACADIA PHARMACEUTICALS INC. 
  
 2004 EMPLOYEE STOCK PURCHASE
PLAN 
  
 ADOPTED
BY THE BOARD OF DIRECTORS ON FEBRUARY 25, 2004 
 APPROVED BY STOCKHOLDERS ON MAY 5, 2004 
  

	1.	PURPOSE. 

  
 (a) The purpose of the Plan is to provide a means by which Employees of the Company and certain designated Related Corporations may be given an
opportunity to purchase shares of the Common Stock of the Company. 
  
 (b) The Company, by means of the Plan, seeks to retain the services of such Employees, to secure and retain the services of new Employees and to provide incentives for such persons to exert maximum efforts for the success of the
Company and its Related Corporations. 
  
 (c) The Company
intends that the Purchase Rights be considered options issued under an Employee Stock Purchase Plan. 
  

	2.	DEFINITIONS. 

  
 As used in the Plan and any Offering, unless otherwise specified, the following terms have the meanings set forth below: 
  
 (a) “Annual Meeting” means the annual meeting
of the stockholders of the Company. 
  
 (b)
“Board” means the Board of Directors of the Company. 
  
 (c) “Code” means the Internal Revenue Code of 1986, as amended. 
  
 (d) “Committee” means a committee appointed by the Board in accordance with Section 3(c) of the Plan. 
  
 (e) “Common Stock” means the common stock of
the Company. 
  
 (f) “Company”
means ACADIA Pharmaceuticals Inc., a Delaware corporation. 
  
 (g) “Contributions” means the payroll deductions and other additional payments that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make payments not through payroll
deductions only if specifically provided for in the Offering, and then only if the Participant has not already had the maximum permitted amount withheld through payroll deductions during the Offering. 

 (h) “Corporate Transaction” means the occurrence, in a single transaction
or in a series of related transactions, of any one or more of the following events: 
  
 (i) a sale, exchange, lease, license or other disposition of all or substantially all of the consolidated assets of the Company; 
  
 (ii) a sale, exchange or other disposition of at least ninety percent (90%) of the outstanding securities of the
Company; 
  
 (iii) a merger, consolidation or similar
transaction following which the Company is not the surviving corporation; or 
  
 (iv) a merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common Stock 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. 
  
 (i) “Director” means a member of the Board. 
  
 (j) “Eligible Employee” means an Employee who
meets the requirements set forth in the Offering for eligibility to participate in the Offering, provided that such Employee also meets the requirements for eligibility to participate set forth in the Plan. 
  
 (k) “Employee” means any person, including
Officers and Directors, who is employed for purposes of Section 423(b)(4) of the Code by the Company or a Related Corporation. Neither service as a Director nor payment of a director’s fee shall be sufficient to make an individual an Employee
of the Company or a Related Corporation. 
  
 (l)
“Employee Stock Purchase Plan” means a plan that grants Purchase Rights intended to be options issued under an “employee stock purchase plan,” as that term is defined in Section 423(b) of the Code. 
  
 (m) “Exchange Act” means the Securities
Exchange Act of 1934, as amended. 
  
 (n) “Fair
Market Value” means the value of a security, as determined in good faith by the Board. If the security is listed on any established stock exchange or traded on the Nasdaq National Market or the Nasdaq SmallCap Market, the Fair Market
Value of the security, unless otherwise determined by the Board, shall be the closing sales price (rounded up where necessary to the nearest whole cent) for such security (or the closing bid, if no sales were reported) as quoted on such exchange or
market (or the exchange or market with the greatest volume of trading in the relevant security of the Company) on the Trading Day prior to the relevant determination date, as reported in The Wall Street Journal or such other source as the
Board deems reliable. 
  
 (o) “IPO
Date” means the effective date of the initial public offering of the Common Stock. 
  
 (p) “Offering” means the grant of Purchase Rights to purchase shares of Common Stock under the Plan to Eligible Employees.

 (q) “Offering Date” means a date selected by the Board for an Offering to
commence. 
  
 (r) “Officer” means a
person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
  
 (s) “Participant” means an Eligible Employee who holds an outstanding Purchase Right granted pursuant to the Plan.

  
 (t) “Plan” means this ACADIA
Pharmaceuticals Inc. 2004 Employee Stock Purchase Plan. 
  
 (u) “Purchase Date” means one or more dates during an Offering established by the Board on which Purchase Rights shall be exercised and as of which purchases of shares of Common Stock shall be carried out in
accordance with such Offering. 
  
 (v) “Purchase
Period” means a period of time specified within an Offering beginning on the Offering Date or on the next day following a Purchase Date within an Offering and ending on a Purchase Date. An Offering may consist of one or more Purchase
Periods. 
  
 (w) “Purchase Right”
means an option to purchase shares of Common Stock granted pursuant to the Plan. 
  
 (x) “Related Corporation” means any parent corporation or subsidiary corporation, whether now or hereafter existing, as those terms are defined in Sections 424(e) and (f), respectively,
of the Code. 
  
 (y) “Securities
Act” means the Securities Act of 1933, as amended. 
  
 (z) “Trading Day” means any day on which the exchange(s) or market(s) on which shares of Common Stock are listed, whether it be an established stock exchange, the Nasdaq National Market, the Nasdaq SmallCap
Market or otherwise, is open for trading. 
  

	3.	ADMINISTRATION. 

  
 (a) The Board shall administer the Plan unless and until the Board delegates administration to a Committee, as provided in Section 3(c). Whether or
not the Board has delegated administration, the Board shall have the final power to determine all questions of policy and expediency that may arise in the administration of the Plan. 
  
 (b) The Board (or the Committee) shall have the power, subject to, and within the limitations of, the express
provisions of the Plan: 
  
 (i) To determine when and how
Purchase Rights to purchase shares of Common Stock shall be granted and the provisions of each Offering of such Purchase Rights (which need not be identical). 

 (ii) To designate from time to time which Related Corporations of the Company shall be eligible to
participate in the Plan. 
  
 (iii) To construe and
interpret the Plan and Purchase Rights, and to establish, amend and revoke rules and regulations for the administration of the Plan. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner
and to the extent it shall deem necessary or expedient to make the Plan fully effective. 
  
 (iv) To amend the Plan as provided in Section 15. 
  
 (v) Generally, to exercise such powers and to perform such acts as it deems necessary or expedient to promote the best interests of the Company and its Related Corporations and to carry out the intent that the
Plan be treated as an Employee Stock Purchase Plan. 
  
 (vi) To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Employees who are foreign nationals or employed outside the United States. 
  
 (c) The Board may delegate administration of the Plan to a Committee
of the Board composed of one (1) or more members of the Board. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board, subject,
however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any time and revest in the Board the administration of the Plan. If
administration is delegated to a Committee, references to the Board in this Plan and in the Offering document shall thereafter be deemed to be to the Board or the Committee, as the case may be. 
  
 (d) All determinations, interpretations and constructions made by the
Board in good faith shall not be subject to review by any person and shall be final, binding and conclusive on all persons. 
  

	4.	SHARES OF COMMON STOCK SUBJECT TO THE PLAN.

  
 (a) Subject to the provisions of
Section 14 relating to adjustments upon changes in stock after the IPO Date , the shares of Common Stock that may be sold pursuant to Purchase Rights shall not exceed in the aggregate one hundred twenty-five thousand (125,000) shares of Common
Stock, plus an automatic annual increase to be added on the day of each Annual Meeting beginning in 2005 and ending in (and including) 2014, equal to the least of the following amounts: (i) one percent (1%) of the Company’s outstanding shares
of Common Stock on the record date for the Annual Meeting; (ii) one hundred fifty thousand (150,000) shares of Common Stock; or (iii) such number of shares of Common Stock as may be determined by the Board. 
  
 (b) The shares of Common Stock subject to the Plan may be unissued
shares or shares that have been bought on the open market at prevailing market prices or otherwise.  
  

	5.	GRANT OF PURCHASE RIGHTS; OFFERING. 

  
 (a) The Board may from time to time grant or provide for the grant of
Purchase Rights to purchase shares of Common Stock under the Plan to Eligible Employees in an Offering (consisting of one or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering shall be in such form and
shall contain such terms and conditions as 

 the Board shall deem appropriate, which shall comply with the requirement of Section 423(b)(5) of the Code that all
Employees granted Purchase Rights shall have the same rights and privileges. The terms and conditions of an Offering shall be incorporated by reference into the Plan and treated as part of the Plan. The provisions of separate Offerings need not be
identical, but each Offering shall include (through incorporation of the provisions of this Plan by reference in the document comprising the Offering or otherwise) the period during which the Offering shall be effective, which period shall not
exceed twenty-seven (27) months beginning with the Offering Date, and the substance of the provisions contained in Sections 6 through 9, inclusive. 
  
 (b) If a Participant has more than one Purchase Right outstanding under the Plan, unless he or she otherwise indicates in agreements or notices
delivered hereunder: (i) each agreement or notice delivered by that Participant shall be deemed to apply to all of his or her Purchase Rights under the Plan, and (ii) a Purchase Right with a lower exercise price (or an earlier-granted Purchase
Right, if different Purchase Rights have identical exercise prices) shall be exercised to the fullest possible extent before a Purchase Right with a higher exercise price (or a later-granted Purchase Right if different Purchase Rights have identical
exercise prices) shall be exercised. 
  

	6.	ELIGIBILITY. 

  
 (a) Purchase Rights may be granted only to Employees of the Company or, as the Board may designate as provided in Section 3(b), to Employees of a
Related Corporation. Except as provided in Section 6(b), an Employee shall not be eligible to be granted Purchase Rights under the Plan unless, on the Offering Date, such Employee has been in the employ of the Company or the Related Corporation, as
the case may be, for such continuous period preceding such Offering Date as the Board may require, but in no event shall the required period of continuous employment be greater than two (2) years. In addition, the Board may provide that no Employee
shall be eligible to be granted Purchase Rights under the Plan unless, on the Offering Date, such Employee’s customary employment with the Company or the Related Corporation is more than twenty (20) hours per week and more than five (5) months
per calendar year. 
  
 (b) The Board may provide that each
person who, during the course of an Offering, first becomes an Eligible Employee shall, on a date or dates specified in the Offering which coincides with the day on which such person becomes an Eligible Employee or which occurs thereafter, receive a
Purchase Right under that Offering, which Purchase Right shall thereafter be deemed to be a part of that Offering. Such Purchase Right shall have the same characteristics as any Purchase Rights originally granted under that Offering, as described
herein, except that: 
  
 (i) the date on which such
Purchase Right is granted shall be the “Offering Date” of such Purchase Right for all purposes, including determination of the exercise price of such Purchase Right; 
  
 (ii) the period of the Offering with respect to such Purchase Right shall begin on its Offering Date and end
coincident with the end of such Offering; and 

 (iii) the Board may provide that if such person first becomes an Eligible Employee within a
specified period of time before the end of the Offering, he or she shall not receive any Purchase Right under that Offering. 
  
 (c) No Employee shall be eligible for the grant of any Purchase Rights under the Plan if, immediately after any such Purchase Rights are granted,
such Employee owns stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Related Corporation. For purposes of this Section 6(c), the rules of Section 424(d) of the
Code shall apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under all outstanding Purchase Rights and options shall be treated as stock owned by such Employee. 
  
 (d) As specified by Section 423(b)(8) of the Code, an Eligible
Employee may be granted Purchase Rights under the Plan only if such Purchase Rights, together with any other rights granted under all Employee Stock Purchase Plans of the Company and any Related Corporations, do not permit such Eligible
Employee’s rights to purchase stock of the Company or any Related Corporation to accrue at a rate which exceeds twenty five thousand dollars ($25,000) of Fair Market Value of such stock (determined at the time such rights are granted, and
which, with respect to the Plan, shall be determined as of their respective Offering Dates) for each calendar year in which such rights are outstanding at any time. 
  
 (e) Officers of the Company and any designated Related Corporation, if they are otherwise Eligible Employees, shall
be eligible to participate in Offerings under the Plan. Notwithstanding the foregoing, the Board may provide in an Offering that Employees who are highly compensated Employees within the meaning of Section 423(b)(4)(D) of the Code shall not be
eligible to participate. 
  

	7.	PURCHASE RIGHTS; PURCHASE PRICE. 

  
 (a) On each Offering Date, each Eligible Employee, pursuant to an Offering made under the Plan, shall be granted a
Purchase Right to purchase up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount, as designated by the Board, but in either case not exceeding fifteen percent (15%), of such Employee’s
Earnings (as defined by the Board in each Offering) during the period that begins on the Offering Date (or such later date as the Board determines for a particular Offering) and ends on the date stated in the Offering, which date shall be no later
than the end of the Offering. 
  
 (b) The Board shall
establish one (1) or more Purchase Dates during an Offering as of which Purchase Rights granted pursuant to that Offering shall be exercised and purchases of shares of Common Stock shall be carried out in accordance with such Offering. 

 
 (c) In connection with each Offering made under the Plan, the Board
may specify a maximum number of shares of Common Stock that may be purchased by any Participant on any Purchase Date during such Offering. In connection with each Offering made under the Plan, the Board may specify a maximum aggregate number of
shares of Common Stock that may be purchased by all Participants pursuant to such Offering. In addition, in connection with each Offering that contains more than one Purchase Date, the Board may specify a maximum 

 aggregate number of shares of Common Stock that may be purchased by all Participants on any Purchase Date under the
Offering. If the aggregate purchase of shares of Common Stock issuable upon exercise of Purchase Rights granted under the Offering would exceed any such maximum aggregate number, then, in the absence of any Board action otherwise, a pro rata
allocation of the shares of Common Stock available shall be made in as nearly a uniform manner as shall be practicable and equitable. 
  
 (d) The purchase price of shares of Common Stock acquired pursuant to Purchase Rights shall be not less than the lesser of: 
  
 (i) an amount equal to eighty-five percent (85%) of the Fair Market
Value of the shares of Common Stock on the Offering Date; or 
  
 (ii) an amount equal to eighty-five percent (85%) of the Fair Market Value of the shares of Common Stock on the applicable Purchase Date. 
  

	8.	PARTICIPATION; WITHDRAWAL; TERMINATION. 

  
 (a) A Participant may elect to authorize payroll deductions pursuant to an Offering under the Plan by completing and
delivering to the Company, within the time specified in the Offering, an enrollment form (in such form as the Company may provide). Each such enrollment form shall authorize an amount of Contributions expressed as a percentage of the submitting
Participant’s Earnings (as defined in each Offering) during the Offering (not to exceed the maximum percentage specified by the Board). Each Participant’s Contributions shall remain the property of the Participant at all times prior to the
purchase of Common Stock, but such Contributions may be commingled with the assets of the Company and used for general corporate purposes except where applicable law requires that Contributions be deposited with an independent third party. To the
extent provided in the Offering, a Participant may begin making Contributions after the beginning of the Offering. To the extent provided in the Offering, a Participant may thereafter reduce (including to zero) or increase his or her Contributions.
To the extent specifically provided in the Offering, in addition to making Contributions by payroll deductions, a Participant may make Contributions through the payment by cash or check prior to each Purchase Date of the Offering. 
  
 (b) During an Offering, a Participant may cease making Contributions
and withdraw from the Offering by delivering to the Company a notice of withdrawal in such form as the Company may provide. Such withdrawal may be elected at any time prior to the end of the Offering, except as provided otherwise in the Offering.
Upon such withdrawal from the Offering by a Participant, the Company shall distribute to such Participant all of his or her accumulated Contributions (reduced to the extent, if any, such Contributions have been used to acquire shares of Common Stock
for the Participant) under the Offering, and such Participant’s Purchase Right in that Offering shall thereupon terminate. A Participant’s withdrawal from an Offering shall have no effect upon such Participant’s eligibility to
participate in any other Offerings under the Plan, but such Participant shall be required to deliver a new enrollment form in order to participate in subsequent Offerings. 

 (c) Purchase Rights granted pursuant to any Offering under the Plan shall terminate immediately
upon a Participant ceasing to be an Employee for any reason or for no reason (subject to any post-employment participation period required by law) or other lack of eligibility. The Company shall distribute to such terminated or otherwise ineligible
Employee all of his or her accumulated Contributions (reduced to the extent, if any, such Contributions have been used to acquire shares of Common Stock for the terminated or otherwise ineligible Employee) under the Offering. 
  
 (d) Purchase Rights shall not be transferable by a Participant
otherwise than by will, the laws of descent and distribution, or a beneficiary designation as provided in Section 13. During a Participant’s lifetime, Purchase Rights shall be exercisable only by such Participant. 
  
 (e) Unless otherwise specified in an Offering, the Company shall have
no obligation to pay interest on Contributions, including, but not limited to, any amounts distributed to Participants pursuant to Sections 8(b), 8(c) and 9(b) hereof. 
  

	9.	EXERCISE. 

  
 (a) On each Purchase Date during an Offering, each Participant’s accumulated Contributions shall be applied to the purchase of shares of
Common Stock up to the maximum number of shares of Common Stock permitted pursuant to the terms of the Plan and the applicable Offering, at the purchase price specified in the Offering. No fractional shares shall be issued upon the exercise of
Purchase Rights unless specifically provided for in the Offering. 
  
 (b) If any amount of accumulated Contributions remains in a Participant’s account after the purchase of shares of Common Stock and such remaining amount is less than the amount required to purchase one share of Common Stock on
the final Purchase Date of an Offering, then such remaining amount shall be held in such Participant’s account for the purchase of shares of Common Stock under the next Offering under the Plan, unless such Participant withdraws from such next
Offering, as provided in Section 8(b), or is not eligible to participate in such Offering, as provided in Section 6, in which case such amount shall be distributed to such Participant after the final Purchase Date, without interest. If the amount of
Contributions remaining in a Participant’s account after the purchase of shares of Common Stock is at least equal to the amount required to purchase one (1) whole share of Common Stock on the final Purchase Date of the Offering, then such
remaining amount shall be distributed in full to such Participant at the end of the Offering. 
  
 (c) No Purchase Rights may be exercised to any extent unless the shares of Common Stock to be issued upon such exercise under the Plan are covered by an effective registration statement pursuant to the
Securities Act and the Plan is in material compliance with all laws applicable to the Plan. If on a Purchase Date during any Offering hereunder the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase
Rights or any Offering shall be exercised on such Purchase Date, and the Purchase Date shall be delayed until the shares of Common Stock are subject to such an effective registration statement and the Plan is in such compliance, except that the
Purchase Date shall not be delayed more than twelve (12) months and the Purchase Date shall in no event be more than twenty-seven (27) months from the Offering Date. If, on the Purchase Date under any Offering hereunder, as delayed to the

 maximum extent permissible, the shares of Common Stock are not registered and the Plan is not in such compliance, no
Purchase Rights or any Offering shall be exercised and all Contributions accumulated during the Offering (reduced to the extent, if any, such Contributions have been used to acquire shares of Common Stock) shall be distributed to the Participants.

  

	10.	COVENANTS OF THE COMPANY. 

  
 The Company shall seek to obtain from each federal, state, foreign or other regulatory commission or agency having
jurisdiction over the Plan such authority as may be required to issue and sell shares of Common Stock upon exercise of the Purchase Rights. If, after commercially reasonable efforts, the Company is unable to obtain from any such regulatory
commission or agency the authority that counsel for the Company deems necessary for the lawful issuance and sale of shares of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell shares of
Common Stock upon exercise of such Purchase Rights unless and until such authority is obtained. 
  

	11.	USE OF PROCEEDS FROM SHARES OF COMMON STOCK.

  
 Proceeds from the sale of shares of Common
Stock pursuant to Purchase Rights shall constitute general funds of the Company. 
  

	12.	RIGHTS AS A STOCKHOLDER. 

  
 A Participant shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, shares of
Common Stock subject to Purchase Rights unless and until the Participant’s shares of Common Stock acquired upon exercise of Purchase Rights are recorded in the books of the Company (or its transfer agent). 
  

	13.	DESIGNATION OF BENEFICIARY. 

  
 (a) A Participant may file a written designation of a beneficiary who is to receive any shares of Common Stock and/or
cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death subsequent to the end of an Offering but prior to delivery to the Participant of such shares of Common Stock or cash. In addition, a
Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of such Participant’s death during an Offering. Any such designation shall be on a form
provided by or otherwise acceptable to the Company. 
  
 (b)
The Participant may change such designation of beneficiary at any time by written notice to the Company. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time
of such Participant’s death, the Company shall deliver such shares of Common Stock and/or cash to the executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of
the Company), the Company, in its sole discretion, may deliver such shares of Common Stock and/or cash to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company,
then to such other person as the Company may designate. 

	14.	ADJUSTMENTS UPON CHANGES IN SECURITIES; CORPORATE TRANSACTIONS.

  
 (a) If, after the IPO Date, any
change is made in the shares of Common Stock, subject to the Plan, or subject to any Purchase Right, without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock
dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other transaction not involving the receipt of consideration by the Company), the Plan
shall be appropriately adjusted in the type(s), class(es) and maximum number of shares of Common Stock subject to the Plan pursuant to Section 4(a), and the outstanding Purchase Rights shall be appropriately adjusted in the type(s), class(es),
number of shares and purchase limits of such outstanding Purchase Rights. The Board shall make such adjustments, and its determination shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall not be
treated as a “transaction not involving the receipt of consideration by the Company.”) 
  
 (b) In the event of a Corporate Transaction, then: (i) any surviving or acquiring corporation may continue or assume Purchase Rights outstanding
under the Plan or may substitute similar rights (including a right to acquire the same consideration paid to stockholders in the Corporate Transaction) for those outstanding under the Plan, or (ii) if any surviving or acquiring corporation does not
continue or assume such Purchase Rights or does not substitute similar rights for Purchase Rights outstanding under the Plan, then, the Participants’ accumulated Contributions shall be used to purchase shares of Common Stock within ten (10)
business days prior to the Corporate Transaction under the ongoing Offering, and the Participants’ Purchase Rights under the ongoing Offering shall terminate immediately after such purchase. 
  

	15.	AMENDMENT OF THE PLAN. 

  
 (a) The Board at any time, and from time to time, may amend the Plan. However, except as provided in Section 14
relating to adjustments upon changes in securities and except as to amendments solely to benefit the administration of the Plan, to take account of a change in legislation or to obtain or maintain favorable tax, exchange control or regulatory
treatment for Participants or the Company or any Related Corporation, no amendment shall be effective unless approved by the stockholders of the Company to the extent stockholder approval is necessary for the Plan to satisfy the requirements of
Section 423 of the Code or other applicable laws or regulations. 
  
 (b) It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide Employees with the maximum benefits provided or to be provided under the provisions of the Code and
the regulations promulgated thereunder relating to Employee Stock Purchase Plans or to bring the Plan and/or Purchase Rights into compliance therewith. 
  
 (c) The rights and obligations under any Purchase Rights granted before amendment of the Plan shall not be impaired by any amendment of the Plan
except: (i) with the consent of the person to whom such Purchase Rights were granted, or (ii) as necessary to comply with any laws or governmental regulations (including, without limitation, the provisions of the Code and the regulations promulgated
thereunder relating to Employee Stock Purchase Plans). 

	16.	TERMINATION OR SUSPENSION OF THE PLAN. 

  
 (a) The Board in its discretion may suspend or terminate the Plan at
any time. Unless sooner terminated, the Plan shall terminate at the time that all of the shares of Common Stock reserved for issuance under the Plan, as increased and/or adjusted from time to time, have been issued under the terms of the Plan. No
Purchase Rights may be granted under the Plan while the Plan is suspended or after it is terminated. 
  
 (b) Any benefits, privileges, entitlements and obligations under any Purchase Rights while the Plan is in effect shall not be impaired by
suspension or termination of the Plan except (i) as expressly provided in the Plan or with the consent of the person to whom such Purchase Rights were granted, (ii) as necessary to comply with any laws, regulations, or listing requirements, or (iii)
as necessary to ensure that the Plan and/or Purchase Rights comply with the requirements of Section 423 of the Code. 
  

	17.	EFFECTIVE DATE OF PLAN. 

  
 The Plan shall become effective as determined by the Board, but no Purchase Rights shall be exercised unless and until the
Plan has been approved by the stockholders of the Company within twelve (12) months before or after the date the Plan is adopted by the Board. 
  

	18.	MISCELLANEOUS PROVISIONS. 

  
 (a) The Plan and Offering do not constitute an employment contract. Nothing in the Plan or in the Offering shall in any way alter the at will
nature of a Participant’s employment or be deemed to create in any way whatsoever any obligation on the part of any Participant to continue in the employ of the Company or a Related Corporation, or on the part of the Company or a Related
Corporation to continue the employment of a Participant. 
  
 (b) The provisions of the Plan shall be governed by the laws of the State of California without resort to that state’s conflicts of laws rules. 

 ACADIA PHARMACEUTICALS INC. 
  
 2004 EMPLOYEE STOCK PURCHASE
PLAN 
  
 OFFERING

  
 Adopted by the Board of Directors on February 25,
2004 
  
 In this document, capitalized terms not otherwise
defined shall have the same definitions of such terms as in the ACADIA Pharmaceuticals Inc. 2004 Employee Stock Purchase Plan. 
  

	1.	Grant; Offering Date. 

  
 (a) The Board hereby authorizes a series of Offerings pursuant to the terms of this Offering document.  
  
 (b) The first Offering hereunder (the “Initial Offering”)
shall begin on the date the Company’s Common Stock is first offered to the public under a registration statement declared effective under the Securities Act (the “IPO Date”) and shall end twenty-four (24) months following the IPO
Date, unless terminated earlier as provided below. After the Initial Offering, an Offering shall begin on the day after the first Purchase Date of the immediately preceding Offering. The first day of an Offering is that Offering’s
“Offering Date.” Except as provided below, each Offering shall be approximately twenty-four (24) months in duration and include four (4) Purchase Periods which, except for the first Purchase Period of the Initial Offering (which may be
longer or shorter than six (6) months) shall be approximately six (6) months in length. Except as provided below, a Purchase Date is the last day of a Purchase Period or of an Offering, as the case may be. The Initial Offering shall consist of four
(4) Purchase Periods with the first Purchase Period of the Initial Offering ending on [the date approximately six (6) months following the IPO Date]. 
  
 (c) Notwithstanding the foregoing: (i) if any Offering Date falls on a day that is not a Trading Day, then such
Offering Date shall instead fall on the next subsequent Trading Day, and (ii) if any Purchase Date falls on a day that is not a Trading Day, then such Purchase Date shall instead fall on the immediately preceding Trading Day. 
  
 (d) Prior to the commencement of any Offering, the Board may change
any or all terms of such Offering and any subsequent Offerings. The granting of Purchase Rights pursuant to each Offering hereunder shall occur on each respective Offering Date unless prior to such date (i) the Board determines that such Offering
shall not occur, or (ii) no shares of Common Stock remain available for issuance under the Plan in connection with the Offering. 
  
 (e) Notwithstanding anything in this Section 1 to the contrary, if on the first day of a Purchase Period during an Offering the Fair Market Value
of the shares of Common Stock is less than it was on the Offering Date for that Offering, that day shall become the next Offering Date, and the Offering that would otherwise have continued in effect shall immediately terminate and the Employees who
were enrolled in the terminated Offering shall automatically be enrolled in the new Offering that starts such day. 

 (f) If the Company’s accountants advise the Company that the accounting treatment of
purchases under the Plan will change or has changed in a manner that the Company determines is detrimental to its best interests, then the Company may, in its discretion, take any or all of the following actions: (i) terminate each ongoing Offering
as of the next Purchase Date (after the purchase of stock on such Purchase Date) under such Offering; (ii) set a new Purchase Date for each ongoing Offering and terminate each such Offering after the purchase of stock on such Purchase Date; (iii)
amend the Plan and each ongoing Offering to reduce or eliminate an accounting treatment that is detrimental to the Company’s best interests; and (iv) terminate each ongoing Offering and refund any money contributed by the participants.

  

	2.	Eligible Employees. 

  
 (a) Each Employee who meets the employment requirements of Section 6(a) of the Plan, is employed as provided in this Section 2(a) prior to an
Offering Date and who is (i) an employee of the Company that resides in the United States; (ii) an employee of a Related Corporation incorporated in the United States; (iii) an employee of the Company that resides outside of the United States; or
(iv) an employee of a Related Corporation that is not incorporated in the United States, shall be granted a Purchase Right on the Offering Date of such Offering, provided, in the case of clause (iii) or (iv), that the Board or Committee has
designated that such employees are eligible to participate in the Offering. 
  
 (b) Notwithstanding the foregoing, the following Employees shall not be Eligible Employees or be granted Purchase Rights under an Offering: 
  
 (i) part-time or seasonal Employees whose customary employment is twenty (20) hours per week or less or five (5)
months per calendar year or less; 
  
 (ii) five percent
(5%) stockholders (including ownership through unexercised and/or unvested stock options) as described in Section 6(c) of the Plan; or 
  
 (iii) Employees in jurisdictions outside of the United States if, as of the Offering Date of the Offering, the grant of such Purchase Rights would
not be in compliance with the applicable laws of any jurisdiction in which the Employee resides or is employed. 
  
 (c) Notwithstanding the foregoing, each person who first becomes an Eligible Employee during an ongoing Offering shall, not be able to participate
in such Offering, but shall be eligible to participate, pursuant to the terms of this Section 2 and the Plan, in the first Offering that commences on or after the first day of his or her employment. 

	3.	Purchase Rights. 

  
 (a) Subject to the limitations herein and in the Plan, a Participant’s Purchase Right shall permit the purchase of the number of shares of
Common Stock purchasable with up to fifteen percent (15%) of such Participant’s Earnings paid during the period of such Offering beginning immediately after such Participant first commences participation; provided, however, that no
Participant may have more than fifteen percent (15%) of such Participant’s Earnings applied to purchase shares of Common Stock under all ongoing Offerings under the Plan and all other plans of the Company and Related Corporations that are
intended to qualify as Employee Stock Purchase Plans. 
  
 (b)
For Offerings hereunder, “Earnings” means the base compensation paid to a Participant, including all salary and wages (including amounts elected to be deferred by the Participant, that would otherwise have been paid, under any cash or
deferred arrangement or other deferred compensation program established by the Company or a Related Corporation), overtime pay, commissions, bonuses; but excluding all other remuneration paid directly to such Participant, profit sharing, the cost of
employee benefits paid for by the Company or a Related Corporation, education or tuition reimbursements, imputed income arising under any Company or Related Corporation group insurance or benefit program, traveling expenses, business and moving
expense reimbursements, income received in connection with stock options, contributions made by the Company or a Related Corporation under any employee benefit plan, and similar items of compensation. 
  
 (c) Notwithstanding the foregoing, the maximum number of shares of
Common Stock that a Participant may purchase on any Purchase Date in an Offering shall be such number of shares as has a Fair Market Value (determined as of the Offering Date for such Offering) equal to (x) twenty five thousand dollars ($25,000)
multiplied by the number of calendar years in which the Purchase Right under such Offering has been outstanding at any time, minus (y) the Fair Market Value of any other shares of Common Stock (determined as of the relevant Offering Date with
respect to such shares) that, for purposes of the limitation of Section 423(b)(8) of the Code, are attributed to any of such calendar years in which the Purchase Right is outstanding. The amount in clause (y) of the previous sentence shall be
determined in accordance with regulations applicable under Section 423(b)(8) of the Code based on (i) the number of shares previously purchased with respect to such calendar years pursuant to such Offering or any other Offering under the Plan, or
pursuant to any other Company or Related Corporation plans intended to qualify as Employee Stock Purchase Plans, and (ii) the number of shares subject to other Purchase Rights outstanding on the Offering Date for such Offering pursuant to the Plan
or any other such Company or Related Corporation Employee Stock Purchase Plan.  
  
 (d) The maximum aggregate number of shares of Common Stock available to be purchased by all Participants under an Offering shall be the number of shares of Common Stock remaining available under the Plan on the
Offering Date. If the aggregate purchase of shares of Common Stock upon exercise of Purchase Rights granted under the Offering would exceed the maximum aggregate number of shares available, the Board shall make a pro rata allocation of the shares
available in a uniform and equitable manner. 

 (e) Notwithstanding the foregoing, the maximum number of shares of Common Stock that a Participant
may purchase on any Purchase Date during any Offering shall not exceed ten thousand (10,000) shares. 
  

	4.	Purchase Price. 

  
 The purchase price of shares of Common Stock under an Offering shall be the lesser of: (i) eighty-five percent (85%) of the Fair Market Value of such
shares of Common Stock on the applicable Offering Date, or (ii) eighty-five percent (85%) of the Fair Market Value of such shares of Common Stock on the applicable Purchase Date, in each case rounded up to the nearest whole cent per share. For the
Initial Offering, the Fair Market Value of the shares of Common Stock at the time when the Offering commences shall be the price per share at which shares are first sold to the public in the Company’s initial public offering as specified in the
final prospectus for that initial public offering. 
  

	5.	Participation. 

  
 (a) An Eligible Employee may elect to participate in an Offering on the Offering Date or as of the first day following any Purchase Date; provided,
however, that a person who first becomes an Eligible Employee during an Offering may elect to participate at the Offering Date applicable to such Eligible Employee in accordance with Section 2(c) herein. An Eligible Employee shall become a
Participant in an Offering by delivering an enrollment form authorizing payroll deductions. Such deductions must be in whole percentages of Earnings, with a minimum percentage of one percent (1%) and a maximum percentage of fifteen percent (15%).
Except as provided in paragraph (e) below, Contributions may be made only by way of payroll deductions and a Participant may not make additional payments into his or her account. The agreement shall be made on such enrollment form as the Company
provides, and must be delivered to the Company prior to the date participation is to be effective, unless a later time for filing the enrollment form is set by the Company for all Eligible Employees with respect to a given Offering. 
  
 (b) A Participant may increase or reduce (including to zero percent)
his or her participation level once during each Purchase Period, excluding only each ten (10) business day period immediately preceding a Purchase Date (or such shorter period of time as determined by the Company and communicated to Participants).
In addition, a Participant may reduce his or her participation level to zero percent (0%) at any time during the course of an Offering, excluding only each ten (10) business day period immediately preceding a Purchase Date (or such shorter period of
time as determined by the Company and communicated to Participants). Any such change in participation shall be made by delivering a notice to the Company or a designated Related Corporation in such form and at such time as the Company provides.

  
 (c) A Participant may withdraw from an Offering and
receive a refund of his or her Contributions (reduced to the extent, if any, such Contributions have been used to acquire shares 

 of Common Stock for the Participant on any prior Purchase Date) without interest, at any time prior to the end of the
Offering, excluding only each ten (10) business day period immediately preceding a Purchase Date (or such shorter period of time determined by the Company and communicated to Participants), by delivering a withdrawal notice to the Company or a
designated Related Corporation in such form as the Company provides. A Participant who has withdrawn from an Offering shall not again participate in such Offering, but may participate in subsequent Offerings under the Plan in accordance with the
terms of the Plan and the terms of such subsequent Offerings. 
  
 (d) Notwithstanding the foregoing or any other provision of this Offering document or of the Plan to the contrary, neither the enrollment of any Eligible Employee in the Plan nor any forms relating to participation in the Plan shall
be given effect until such time as a registration statement covering the registration of the shares under the Plan that are subject to the Offering has been filed by the Company and has become effective. 
  
 (e) Notwithstanding the foregoing or any other provision of this
Offering document or of the Plan to the contrary, with respect to the Initial Offering only, each Eligible Employee who is employed on the IPO Date automatically shall be enrolled in the Initial Offering, with a Purchase Right to purchase up to the
number of shares of Common Stock that are purchasable with fifteen percent (15%) of the Eligible Employee’s Earnings, subject to the limitations set forth in Section 3 above. Following the filing of an effective registration statement pursuant
to a Form S-8, such Eligible Employee shall be provided a certain period of time, as determined by the Company in its sole discretion, within which to elect to authorize payroll deductions for the purchase of shares during the Initial Offering
(which may be for a percentage that is less than fifteen percent (15%) of the Eligible Employee’s Earnings). If such Eligible Employee elects not to authorize such payroll deductions, the Eligible Employee instead may purchase shares of Common
Stock under the Plan by delivering a single cash payment for the purchase of such shares to the Company or a designated Related Corporation prior to the ten (10) business day period (or such shorter period of time as determined by the Company and
communicated to Participants) immediately preceding the first Purchase Date under the Initial Offering. If an Eligible Employee neither elects to authorize payroll deductions (or fails to do so in a timely manner) nor chooses to make a cash payment
in accordance with the foregoing sentence, then the Eligible Employee shall not purchase any shares of Common Stock during the Initial Offering. After the end of the Initial Offering, in order to participate in any subsequent Offerings, an Eligible
Employee must enroll and authorize payroll deductions prior to the commencement of the Offering, in accordance with paragraph (a) above; provided, however, that once an Eligible Employee enrolls in an Offering and authorizes payroll
deductions (including in connection with the Initial Offering), the Eligible Employee automatically shall be enrolled for all subsequent Offerings until he or she elects to withdraw from an Offering pursuant to paragraph (c) above or terminates his
or her participation in the Plan. 
  

	6.	Purchases. 

  
 Subject to the limitations contained herein, on each Purchase Date, each Participant’s Contributions (without any increase for interest) shall be
applied to the purchase of whole shares, up to the maximum number of shares permitted under the Plan and the Offering. 

	7.	Notices and Agreements. 

  
 Any notices or agreements provided for in an Offering or the Plan shall be given in writing, in a form provided by the Company, and unless specifically
provided for in the Plan or this Offering, shall be deemed effectively given upon receipt or, in the case of notices and agreements delivered by the Company, five (5) days after deposit in the United States mail, postage prepaid. 
  

	8.	Exercise Contingent on Stockholder Approval. 

  
 The Purchase Rights granted under an Offering are subject to the approval of the Plan by the stockholders of the Company as required for the Plan to
obtain treatment as an Employee Stock Purchase Plan. 
  

	9.	Offering Subject to Plan. 

  
 Each Offering is subject to all the provisions of the Plan, and the provisions of the Plan are hereby made a part of the Offering. The Offering is further
subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of an Offering and those of the Plan (including
interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan), the provisions of the Plan shall control.General Agreement

 Exhibit 10.19 
  
 GENERAL AGREEMENT 
  
 between 
  
 Medeon Fastigheter AB 
  
 and 
  
 ACADIA Pharmaceuticals
Inc. 

 General Agreement 
  

	1	 	Parties 

  

	1.1	 	Medeon Fastigheter AB, Reg no 556034-1140, c/o Wihlborgs Fastigheter AB (“Medeon”), Box 97, 201 20 Malmö, fully owned by Wihlborgs Fastigheter AB (publ).

  

	1.2	 	ACADIA Pharmaceuticals Inc., 3911 Sorrento Valley Boulevard, San Diego, CA 92121, USA (“Acadia”). 

  

	1.3	 	Medeon and Acadia are jointly referred to as “the Parties” or individually a “Party”. 

  

	2	 	Background 

  

	2.1	 	Acadia has declared an interest in renting new premises located at the real estate “Forskaren 1”, in Malmö. The address of the premises is Per Albin Hanssons väg
41, Malmö. The premises, which have not yet been built, shall house a laboratory used by Acadia within the frame of its enterprise. Medeon, on the other hand, has declared a will to build the premises required and, when the construction has
been completed, to lease them to Acadia. 

  

	3	 	The Lease Object 

  

	3.1	 	The premises will include the space needed by Acadia to run the enterprise, in addition to necessary service areas, cloakrooms etc (hereinafter referred to as the “Lease
Object”). 

  

	3.2	 	A detailed description of the shape of the Lease Object, along with building plans, as well as a full description of the division of production and construction costs between Medeon
and Acadia, is to be found in the “Programhandling” enclosed to this Agreement, see Appendix 3.2. 

  

	3.3	 	Deviations from the shape and extent of the Lease Object, as described in Appendix 3.2, require the consent from both parties. 

  

	3.4	 	Cost-saving measures agreed upon between the Parties shall have a corresponding impact on the lease fee. 

	4	 	Time Schedule 

  

	4.1	 	Acadia shall take possession of the Lease Object on 1 June, 2005 (the “Date of Taking Possession”). Medeon guarantees that the construction of the Lease Object has been
completed and that the building has been subject to and approved at a final inspection, performed in accordance with the conditions and terms applicable on the contract work until the Date of Taking Possession. Medeon shall during the month of June
2005 have full access to all parts of the Lease Object for the purpose of remedying defects that have been noted in the inspection report. Should Medeon require access to the Lease Object thereafter for remedying of such defects, Acadia shall be
entitled to rights including compensation in accordance with the applicable law of tenancy. Medeon undertakes to indemnify and hold harmless Acadia for any and all damages, claims, losses, liabilities and costs incurred or suffered by Acadia arising
out of Medeon’s breach of its undertaking in this Section 4.1. Medeon’s liability under this Section 4.1 shall under no circumstances exceed an amount corresponding to one percent of the contract price in total for each week that
Acadia’s taking of possession is delayed. 

  

	5	 	Signing of the Lease Contract and Terms of Leasing 

  

	5.1	 	The Parties undertake to sign a Lease Agreement regarding the Lease Object in accordance with the draft agreement, with appurtenant appendixes and exhibits, presented in Appendix
5.1 to this Agreement. The Lease Agreement shall be signed at the time when Acadia takes possession of the Lease Object. 

  

	6	 	Construction, Contract Work 

  

	6.1	 	In the light of Acadia’s undertaking, Medeon shall construct a building in accordance with the documents in Appendix 3.2. Medeon shall manage the contract work and all
decisions related to the construction of the Lease Object shall be made by Medeon. As soon as possible after the signing of this Agreement, the parties shall form a project group (Sw: styrgrupp) with one representative from each party. Acadia
may appoint one representative who shall be entitled to attend project- and construction meetings (Sw: projekt- och byggmöten). It is understood and agreed between the Parties that the Date of Taking Possession of the Lease Object stated
in Article 4 here above, is based on the assumption that no changes or additions, ordered by Acadia, will be made in the governed documents concerning the contract work. The Date of Taking Possession shall be postponed in case Acadia has ordered
changes or additions and provided that that Medeon has notified Acadia in writing that such ordered changes and additions are subject to postponement of the Date of Taking Possession of the Lease Object, specifying the new date of taking possession.
The Parties shall jointly appoint an inspector, at the expense of Medeon, who shall decide the condition of the Lease Object both in the relation between the contractor and Medeon and in the relation between Medeon and Acadia.

  

 2(5) 

	7	 	Conditions 

  

	7.1	 	The validity of this Agreement is conditional upon the occurrence of the following events: 

  

	 	a.	 	The Municipal council Malmö kommun decides to adopt a new detailed development plan (Sw: detaljplan) allowing for the Lease Object, as described in Appendix 3.2, to be
built at the latest 1 June, 2004; 

  

	 	b.	 	Medeon receives permit (Sw: bygglov) to build the Lease Object at the latest 1 June, 2004; 

  

	 	c.	 	All necessary permits for Acadia’s business at the Lease Object to be received at the latest 1 June 2004; and 

  

	 	d.	 	The board of directors of Acadia accepts this Agreement at the latest three (3) weeks after signing by both Parties of this Agreement. 

  

	7.2	 	It is noted that the board of directors of Wihlborgs Fastigheter AB has accepted this Agreement. 

  

	7.3	 	The Parties shall use their best endeavours to ensure that the conditions in Section 7.1 are fulfilled. 

  

	7.4	 	If any of the conditions in Section 7.1 is not fulfilled by the said date, this Agreement shall cease to have effect and each Party shall have no claims under it against the other,
save in respect of any prior breach. 

  

	8	 	Option 

  

	8.1	 	Acadia has a substantial interest in a further rational expansion of its business activities on the site of Medeon Science Park in Malmö, i.e. an expansion in direct connection
with or in the close proximity of the building that is the subject matter of this Agreement. Medeon therefore undertakes to reserve an area of approximately 3,000 square meters for such future expansion in a new building that is planned to be built
on the site (“the New Lease Object”) and to lease the New Lease Object to Acadia on terms and conditions mainly corresponding to the terms and conditions of the lease agreement regarding the Lease Object. 

  

	8.2	 	Medeon’s undertaking set forth in Section 8.1 is conditional upon that (i) the right to erect buildings that Medeon may be granted pursuant to the future pending plan has room
for the number of square metres being reserved for Acadia subsequent to Section 8.1 of this Agreement and (ii) the parties reach an agreement regarding the terms and conditions for the construction and the renting of the new building.

  

	8.3	 	Acadia shall no later than June 1, 2008, in writing call the exercise of the option. 

  

	8.4	 	If Acadia exercises its option, and provided that the condition set out in Section 8.2(i) and (ii) are fulfilled, Medeon guarantees that the New Lease Object will be

  

 3(5) 

	 	 	completed and that the building will be subject to and approved at a final inspection in accordance with the agreed terms and conditions of the contract work.

  

	8.5	 	If the condition under 8.2(i) is fulfilled but the parties are unable to reach an agreement on the terms and conditions regarding the construction and the renting of the new
building, Medeon undertakes to sell to Acadia the part of the real property Malmö Forskaren 1 situated north of the Lease Object including an area of approximately 2,350 square metres, which have been marked out with redlines in the drawing
attached hereto as Appendix 8.5. The Parties acknowledge that there may be adjustments due to the geodetic division of the real property. The purchase price shall be calculated by multiplying the Municipality’s of Malmö price per
square meter of building rights (Sw: byggrätter) by the number of square meters of building rights allocated to the land transferred. If Medeon breaches its undertaking to sell the land to Acadia, Acadia shall have the right to terminate
this Agreement and the Lease Agreement set forth in Appendix 5.1 with immediate effect without any right for Medeon to claim any compensation as a result of the termination of the agreements. 

  

	9	 	Indemnification 

  

	9.1	 	Acadia undertakes to indemnify and hold harmless Medeon for any and all damages, claims, losses, liabilities and costs incurred or suffered by Medeon arising out of or in connection
to Acadia’s breach of its undertaking to sign the Lease Agreement. Medeon shall make best efforts to find a new tenant, it being however understood that Medeon’s obligation shall in no case go beyond what an injured party would have to do
to limit its injury according to the general principle of law. 

  

	9.2	 	Acadia’s indemnification obligation under Section 9.1 shall not exceed a maximum amount of SEK 40,000,000 (forty million), it being understood that any set off shall be made
against Medeon’s actual loss. By way of example only, this means that if Medeon’s loss is SEK 50,000,000 and Medeon through new tenants acquires rental payments at an amount of SEK 20,000,000, Acadia shall pay compensation to Medeon with
SEK 30,000,000. 

  

	10	 	Assignments 

  

	10.1	 	This Agreement shall be binding upon and inure to the benefit of the successors of the Parties but shall not be assignable by either of the Parties without the prior written consent
of the other Party. The benefit of this Agreement may, however, be assigned by either Party to any company directly or indirectly controlling, controlled by or under common control of that party provided that the Party shall remain liable as for its
own debt (Sw: såsom för egen skuld) for all obligations under this Agreement. 

  

 4(5) 

	11	 	Confidentiality 

  

	11.	 	Subject to any contingent obligations imposed by law or regulations regarding publication, the Parties undertake not to make any public announcement or notice of the provisions in
the Agreement without the prior mutual agreement regarding forms and contents of the intended information. 

  

	12	 	Governing Law and Jurisdiction 

  

	12.1	 	This Agreement shall be governed by and construed in accordance with Swedish law. 

  

	12.2	 	Any dispute, controversy or claim arising out of or in connection with this Agreement, or the breach, termination or invalidity thereof, which cannot be settled amicably, shall be
settled by Swedish courts. 

  

  
 This Agreement has been executed in two (2) copies of which the Parties have taken one each. 
  

									
	 Place: Malmö
	 	 	 	 Place: Malmö

			
	 Date: 22/4-2004
	 	 	 	 Date: April 22, 2004

			
	 MEDEON FASTIGHETER AB
	 	 	 	 ACADIA PHARMACEUTICALS INC.

			
	 /s/ Anders Jari

	 	 	 	 /s/ Uli Hacksell

	 Anders Jari, by proxy
	 	 	 	 Uli Hacksell

  

 5(5) 

 Appendix 5.1 
  
 LEASE AGREEMENT 
  
 between 
  
 Medeon Fastigheter AB 
  
 and 
  
 ACADIA Pharmaceuticals Inc. 

 

 

					
	Wihlborgs	 	LEASE AGREEMENT	 	 
	 	FOR NON-RESIDENTIAL PREMISES	 	No.
4881-                                       
     

  

			
	 The undersigned have this day entered into the following Lease Agreement
	  	An X in a box means that the text following thereafter applies.

  

																					
	Landlord	 	Medeon Fastigheter AB	  	 National ID/company registration no.
 556034-1140

	Tenant	 	ACADIA Pharmaceuticals Inc.	  	 National ID/company registration no.
  

	 Premises Address,
 etc
	 	 Municipality:
 Malmö
	 	 Property designation
 Forskaren
1

	 	 Street
 P A Hanssonsväg 41,
Malmö
	  	Floor/building	  	Apartment no.
	 	 Billing Address
  
	  	 
	 Condition and use
 of
premises
	 	Unless otherwise stated, the premises and appurtenant storage areas are let in their existing condition for use as: Kontor och Enligt bilaga 7
	 Size and extent of
 premises
	 	Retail space	 	Office space	  	Storage space	  	Other space
	 	 	Floor	 	Sq. m.	 	Floor	 	Sq. m. ca	  	Floor	 	Sq. m.	  	Floor	 	Sq. m.	  	Floor	  	Sq. m.
	 	 	 	 	 	 	 1
 3
	 	 940
 870
	  	2	 	920	  	 	 	 	  	 	  	 
	 	 	The designated areas
	 	 	 ̈ have	 	x have not	 	             been measured jointly prior to the execution of the Agreement
			
	 	 	Should the area shown in the Agreement deviate from that actually measured, this does not entitle the Tenant to any repayment of rent nor entitle the Landlord to any increased
rent	  	 Appendix
 1A-1F

			
	 	 	 x The extent of the leased premises is marked on appended plan(s)
	  	 
							
	 	 	x access for cars loading/unloading	 	 ̈ place for sign	 	 ̈ place for display cabinet/
vending machine	 	 ̈ parking space(s) for
            car(s)	 	 ̈ garage space(s) for
            car(s)	 	 ̈
	Furnishings/ Fixtures/Fittings	 	 The premises are let:
  ̈       without furnishings/fixtures/fittings
specific to the Tenants use of the premises
	 	 x      with furnishings/fixtures/fittings
specific to the Tenants use of the premises according to appendix
	  	 Appendix
 7

		
	 	 	 Unless otherwise agreed upon, at the termination of the tenancy, the Tenant shall remove all property belonging to him and
surrender the premises in acceptable condition.
 The parties agree to carry out a joint inspection of the premises not later than the last day of the
tenancy. If, as a result of the Tenant’s actions – carried out with or without the Landlord’s consent – the premises upon surrender should contain material, which it had not previously been agreed that the Landlord should be
responsible for, the Tenant shall remove such material or pay the Landlord’s expenses in so doing, including but not limited to, transportation costs, waste disposal taxes and storage charges.

		
	Telephone lines	 	  ̈       The Tenant shall pay for the installation of the necessary telephone lines from a connection point designated by the service provider to those points in the premises
chosen by the Tenant in consultation with the Landlord.
  
 x      The Landlord shall pay for corresponding installation of lines to the premises. The installation of lines inside the premises shall be
carried out by the Tenant in consultation with the Landlord; the cost, however, to be borne by the Tenant.

		
	Data communication lines	 	  ̈       The Tenant shall pay for the installation of the necessary data communication lines from a connection point designated by the service provider to those points in the
premises chosen by the Tenant in consultation with the Landlord.
  
 x      The Landlord shall pay for corresponding installation of lines to the premises. The installation of lines inside the premises shall be
carried out by the Tenant in consultation with the Landlord; the cost, however, to be borne by the Tenant.

			
	Term of lease	 	 Commencing
 2005-06-01
	 	 Up to and including
 2015-05-31

		
	Termination/ Extensions	 	 Notice of termination of this Agreement must be given in writing at least
    12     months prior to the expiry of this Agreement.
  
 In the absence thereof, this Agreement is extended by a term of     5     years at a
time.

				
	 Heating and
 hot water
	 	Requisite heating of the premises is provided by	  	x the Landlord	 	 ̈ the Tenant
	 	 	Hot water is provided	 	x throughout the year	  	 ̈ not provided	  	 ̈

  

					
	 Notice
 Note that in certain cases, in addition
to marking a box with an X, an appendix must be appended to the Agreement in order for the agreement set forth in such appendix to be binding. This applies, for example, with respect to an index clause, a property tax clause and the Tenant’s
right to a reduction of rent in conjunction with customary maintenance. In addition, see instructions prepared by the organisations.
	  	 

  

					
	 Swedish Property Federation form no. 12B, prepared in 1998 in consultation with the Swedish Federation of Trade and the Swedish Hotels and
Restaurants Association (SHR). Copying prohibited.
 Notice: This is a translation into English of form no. 12B
 License number: 902745460-000058. Version 6.01. Registered to: Wihlborgs Fastigheter AB (publ.)
	  	Initial	  	Initial

  
  

 Page 1(4) 

					
	 	 	LEASE AGREEMENT	 	 
	 	 	FOR NON-RESIDENTIAL PREMISES	 	No.
4881-                                       
 

  

			
	 The undersigned have this day entered into the following Lease Agreement
	  	An X in a box means that the text following thereafter applies.

  

											
	 Rent
	  	 SEK
 7 225
000:—              
	  	Per annum comprising	  	 ̈ total rent	  	x rent excluding supplements marked below
			
	 Index clause
	  	x Changes to the above-stated rent will be effected pursuant to the appended index clause	  	 Appendix
 3

				
	 Heating and hot water costs
	  	 Fuel/heating supplement payable in accordance with
 x appended clause
	  	enl. sjalvkostnad	  	 Appendix
 4

				
	 Water and sewerage cost
	  	 Water and sewerage supplement payable in accordance
 x with appended clause
	  	enl. sjalvkostnad	  	 Appendix
 4

				
	 Cooling Ventilation
	  	 Costs for the operation of special cooling and ventilation appliances
 x shall be reimbursed in accordance with appended clause
	  	enl. sjalvkostnad	  	 Appendix
 4

			
	 Electricity
	  	 ̈ included in rent	  	x Tenant has own contract with the provider
			
	 Cleaning of Stairwell
	  	 ̈ included in rent	  	x arranged for and paid for by the Tenant
		
	 Refuse and waste removal
	  	 Insofar as the Landlord is responsible for the provision of storage space for refuse/waste, and arranging for the removal of such
refuse/waste, it is the Tenant’s responsibility to sort and deposit refuse/waste in the appropriate containers as directed, in their designated place, as well as without recompense contribute towards further and/or additional sorting, as
discussed by the Landlord.
  
 Refuse and waste
removal

		
	 	  	  ̈        included in rent

		
	 	  	 x       Arranged for and paid for by the Tenant
(the Landlord however shall provide the necessary refuse/waste containers and the requisite storage space for such)

		
	 	  	  ̈        Included in rent with respect to the types of refuse/waste indicated below. The Tenant shall be responsible for, and pay for the costs of, collection, sorting, storage and
transportation of the categories of refuse/waste not indicated below which are to be found on the Tenant’s premises.

				
	 	  	 ̈ household waste	  	 ̈ fluorescent tubes	  	  ̈         hard plastic packaging

				
	 	  	 ̈ heavy refuse	  	 ̈ metal packaging	  	  ̈         hazardous waste pursuant to the Hazardous Waste Ordinance (1996:971)

				
	 	  	 ̈ compostable waste	  	 ̈ clear glass containers	  	 x     Bil 4

				
	 	  	 ̈ newspapers	  	 ̈ coloured glass containers	  	  ̈

				
	 	  	 ̈ batteries	  	 ̈ cardboard packaging	  	  ̈

					
	 Snow clearance and gritting
	  	 ̈ included in rent	  	 ̈ to be arranged for and paid for by the
Tenant	  	x as per appendix	  	 Appendix
 4

				
	 Property taxes
	  	 ̈ included in rent	  	x reimbursement payable as per special agreement	  	 Appendix
 5

		
	Unforeseen costs	  	Where, following the execution of this Agreement, unforeseen increases in costs arise in relation to the property as a consequence of:
		
	 	  	 a)        the introduction of, or increases in taxes, charges or duties levied
specifically on the property as a result of decision taken by Parliament, Government, municipalities, or other relevant authorities;

		
	 	  	 b)        general rebuilding measures or such like in respect of the property which do
not relate solely to the premises and which the Landlord is obliged to execute as a result of decisions of the Parliament, Government, municipalities, or other relevant authorities;

		
	 	  	The Tenant shall, commencing at the time of the cost increase, reimburse the Landlord in relation to that proportion of the total annual increase in costs for the property
represented by the premises.
		
	 	  	The proportion represented by the premises is 100 per cent. Where the proportion has not been indicated, it shall be comprised of that proportion of the total rents for
premises (excluding any value-added tax) represented by the Tenant’s rent (excluding any value-added tax) at the time of the increase in costs in respect of unlet premises, the market rent for the premises shall be
estimated.
		
	 	  	“Taxes” in accordance with a) above does not refer to value-added tax and property tax to the extent that reimbursement in respect of this is paid as per agreement.
“Unforeseen costs” means such costs as were not decided upon by the authorities as set forth in sections a) and b) at the inception of the Agreement. Reimbursement shall be paid in the same manner as set forth below for rental
payments.

  

					
	 Notice
 Note that in certain cases, in addition
to marking a box with an X, an appendix must be appended to the Agreement in order for the agreement set forth in such appendix to be binding. This applies, for example, with respect to an index clause, a property tax clause and the Tenant’s
right to a reduction of rent in conjunction with customary maintenance. In addition, see instructions prepared by the organisations.
	  	 

  

					
	 Swedish Property Federation form no. 12B, prepared in 1998 in consultation with the Swedish Federation of Trade and the Swedish Hotels and
Restaurants Association (SHR). Copying prohibited.
 Notice: This is a translation into English of form no. 12B
 License number: 90274560-000058. Version 6.01. Registered to: Wihlborgs Fastigheter AB (publ.)
	  	Initial	  	Initial

  
  

 Page 2(4) 

					
	 	 	LEASE AGREEMENT	  	 
	 	 	FOR NON-RESIDENTIAL PREMISES	  	No.
4881-                                       
     
		
	The undersigned have this day entered into the following Lease Agreement	  	An X in a box means that the text following thereafter applies.

  

											
	Value-added tax (VAT)	  	x The property owner/Landlord is liable to pay value-added tax for the
letting of the premises. In addition to rent, the Tenant
shall on each occasion
pay the VAT currently applicable.
		
	 	  	 ̈ Where, following a decision by the Tax
Authorities, the property owner/
Landlord becomes liable to pay VAT to the letting of the premises, the Tenant
shall on each occasion in addition to the rent pay the VAT currently
applicable.
		
	 	  	The VAT paid together with rent shall be calculated on the stated rental
amount and where applicable on supplemental charges and other
reimbursements paid in accordance
with the Agreement, pursuant to the rules
applicable at the time in respect of VAT payable on rent.
		
	 	  	Where the Landlord becomes liable to pay VAT pursuant to the provisions of
the Value Added Tax Act as a consequence of the Tenant’s independent
actions, such as a
subletting of the premises (including subletting to its own
company) or assignment, the Tenant shall reimburse the Landlord in full. In
addition, the Tenant shall reimburse the Landlord in respect of the increased
costs arising as a
consequence of the Landlord’s loss of the entitlement to
deduct VAT on operating expenses incurred as a consequence of the Tenant’s
actions.
				
	Payment of rent	  	The rent shall be paid in advance without prior
demand, not later than the last working day prior
to the commencement of	  	Postal giro
no.	  	Bank
giro no.
						
	 	  	 ̈ each calendar month	  	x each quarter	  	By direct
transfer
to either
of
following
accounts	  	enl avi	  	enl. avi
		
	 Interest, Payment
 reminders
	  	Upon delay in the payment of rent, the Tenant shall pay interest in accordance
with the Interest Act as well as compensation for written payment reminders
in accordance
with the Debt Recovery Act, etc. Compensation for payment
reminders shall on each occasion be paid in an amount currently applicable
pursuant to the Debt Recovery Ordinance, etc.
				
	Maintenance, etc.	  	 ̈ The Landlord shall carry out and bear the
cost
of necessary maintenance of the premises and
furnishings/fittings/fixtures supplied by him.	  	However,
the Tenant
shall be
responsible
for	  	Appendix
				
	 	  	 ̈ The Tenant shall carry out and bear the cost
of
necessary maintenance of the surface of floors,
walls and ceilings, as well as of furnishings/
fittings/fixtures provided by the Landlord.	  	In addition,
the Tenant’s
maintenance
obligations
includes	  	Appendix  

		
	 	  	Where the Tenant does not fulfill his maintenance obligations and does not
within a reasonable time carry out rectification works following a written
demand, then the
Landlord shall be entitled to fulfill these obligations at the
Tenant’s expense.
				
	 	  	x The allocation of the maintenance obligations
is set forth as per separate appendix.	  	Gransd.lista	  	Appendix
6
		
	 Management and
 operation
	  	Unless otherwise agreed, the Landlord shall, where applicable, manage,
operate, and maintain the public and common areas.
		
	 	  	The Tenant shall not be entitled, without the Landlord’s written consent to
carry out any fitting out and/or installation or alteration works within the
premises or
otherwise within the property, which directly effects the
structural components of the building or installations important to the
functioning of the property, such as water and sewerage, electricity,
ventilation systems, etc., which are the
property of the Landlord.
		
	 	  	Sprinkler heads and ventilation equipment may not be covered by any
fixtures/fittings by the Tenant in such a manner as to reduce the functioning
of such equipment. In
conjunction with the performance of fitting out works,
the Tenant shall ensure that the functioning of radiators and other heating
equipment is maintained in all significant respects.
		
	Inspections	  	Where any defects and/or deficiencies are found subsequent to an inspection
by a relevant authority, in the electrical and sprinkler equipment which is the
property of
the Tenant, the Tenant shall, at his own cost and within the period
prescribed by the relevant authority, carry out any measures required. Where
the Tenant has not rectified the defects and/or deficiencies within the assessed
time, the
Landlord shall be entitled, at the Tenant’s expense, to carry out such
measures as are required by the relevant authority.
		
	 Access to certain
 spaces
	  	The Tenant shall keep areas to which the maintenance personnel and
personnel from the energy utilities, water and sewerage utilities, the telephone
company, and any like
organization must have access to, easily accessible by
keeping such areas free of cupboards, crates, goods, or any other obstruction.
		
	 Building material
 specifications
	  	Whether, pursuant to the provisions of this Agreement or otherwise, the
Tenant performs maintenance, improvement, or alteration works in respect of
the premises, the
Tenant shall provide the Landlord, in good time prior to the
execution of such work, with specifications of the building materials – to the
extent such have been prepared – for the products and materials to be used on
the
premises.
		
	 Planning and
 Building Code
 (PBL) Insts.
	  	Where the Tenant undertakes alterations to the premises without the requisite
construction permit and, as a consequence thereof the Landlord is compelled
to pay
construction fines or supplemental fees pursuant to the rules set forth
in the Planning and Building Code (PBL), the Tenant shall reimburse the
Landlord in respect of this.
		
	Reduction of rent	  	The Tenant shall not be entitled to a reduction in rent for the period during
which the Landlord allows work to be carried out in order to place the
premises in the
agreed condition, or other works specifically set forth in the
Agreement. SEE GENERAL AGREEMENT.
			
	 	  	x The Tenant’s right to a reduction in rent during the
Landlord’s performance of customary maintenance of the
leased
premises or the property shall be governed by a separate
appendix.	  	Appendix
2
				
	 Regulations
 imposed by
 relevant
 authorities, etc.
	  	 ̈ The Landlord	  	x The
Tenant	  	shall be solely responsible for, and
bear the cost of, undertaking
measures which may be required for
the intended use of the premises by
insurance companies,
building
authorities, environmental or health
authorities, fire departments, or
other relevant authorities after the
date of taking possession. The Tenant
shall consult with the Landlord prior
to undertaking any such
measures.

  

					
	 Notice
 Note that in certain cases, in addition
to marking a box with an X, an appendix must be appended to the Agreement in order for the agreement set forth in such appendix to be binding. This applies, for example, with respect to an index clause, a property tax clause and the Tenant’s
right to a reduction of rent in conjunction with customary maintenance. In addition, see instructions prepared by the organisations.
	  	 

  

					
	 Swedish Property Federation form no. 12B, prepared in 1998 in consultation with the Swedish Federation of Trade and the Swedish Hotels and
Restaurants Association (SHR). Copying prohibited.
 Notice: This is a translation into English of form no. 12B
 License number: 902745460-000058. Version 6.01. Registered to: Wihlborgs Fastigheter AB (publ.)
	  	Initial	  	Initial

  

 Page 3(4) 

					
	 	 	LEASE AGREEMENT	 	 
	 	 	FOR NON-RESIDENTIAL PREMISES	 	No.
4881-                                       
   

			
		
	The undersigned have this day entered into the following Lease Agreement	 	An X in a box means that the text following thereafter applies.

											
		
	Signs, awnings, windows, doors, etc.	  	Following consultation with the Landlord, the Tenant shall be entitled to display a customary business sign provided that the Landlord has not reasonably denied the same and
that the Tenant has obtained the requisite permit from the relevant authority. Upon surrender of the premises, the Tenant shall restore the facade to of the building to an acceptable condition. In conjunction with more extensive property
maintenance, such as the renovation of facades, etc. the Tenant shall, at its own cost and without compensation, dismantle and reassemble signs, awnings, and antennas. The Landlord undertakes not to fix vending machines and display cabinets on the
exterior walls of the premises let to the Tenant without the Tenant’s consent, and grants to the Tenant an option to fix vending machines and display cabinets on the walls in question.
						
	 	  	 ̈ The Landlord	  	 	  	 	 	 	  	 
						
	 	  	 	  	Is liable for any damage due to negligence of malicious intent to	  	 	 	 	  	 
						
	 	  	x The Tenant	  	 	  	x windows	 	 ̈ display/shop windows	  	x entrance doors
						
	 	  	 	  	 	  	 ̈ signs	 	 ̈	  	 
		
	 	  	  ̈ The Tenant shall purchase and maintain glass insurance with respect to displaying windows and entrance doors appurtenant to the premises.

				
	Locks	  	 ̈ The Landlord	  	x The Tenant	  	shall equip the premises with such locks and anti-theft devices as may be required to ensure the validity of the Tenant’s business insurance.
		
	Force majeure	  	The Landlord shall not be compelled to perform the obligations under this Agreement or pay any damages where, as a consequence of acts of war or riots, work stoppages, blockages,
fires, explosions, or intervention by a public authority over which the Landlord has no control and which could not have been foreseen, and the Landlord is prevented entirely from performing his obligations or may only be able to do so at abnormally
high cost.
			
	Security	  	This Agreement is contingent upon the provision of security in the form of a	  	Appendix
						
	 	  	 ̈ Bank guarantee	  	 ̈ Personal guarantee	  	 ̈	 	To be provided no later than	  	 
			
	Special provisions	  	 Sărskilda Bestämmelser
	  	 Appendix
 7

		
	Signature	  	This Agreement which may not be registered without specific consent, has been prepared in two identical counterparts of which each party has received one. All prior agreements
between the parties with respect to these premises shall cease to apply commencing on the date of execution of this Agreement.
			
	 	  	Place/date	 	Place/date
				
	 	  	Landlord	  	 This is just a translation.
 Do
not sign here!
 Sign the Swedish form!
	 	Tenant
			
	 	  	Printed name	 	Printed name
		
	Agreement with respect to the surrender of the premises	  	 As a consequence of an agreement entered into this day, the Agreement shall cease to apply
 commencing
                                        
                    , at which time the Tenant undertakes to surrender the premises.

			
	 	  	Place/date	 	Place/date
			
	 	  	Landlord	 	Tenant
		
	Assignment	  	This Lease Agreement is hereby assigned to commencing
					
	 	  	Assignor	  	 	  	Assignee	 	National ID/company regulation no.
						
	The above-referenced assignment is hereby approved	  	Place/date	  	 	  	Landlord	 	 	  	 

  
  

					
	 Notice
 Note that in certain cases,
in addition to marking a box with an X, an appendix must be appended to the Agreement in order for the
agreement set forth in such appendix to be binding. This applies, for example, with respect to an index clause, a property tax clause
and
the Tenant’s right to a reduction of rent in conjunction with customary maintenance. In addition, see instructions prepared by
the organisations.

  

					
	 Swedish Property Federation form no. 12B, prepared in 1998 in consultation with the Swedish Federation of Trade and the Swedish Hotels and
Restaurants Association (SHR). Copying prohibited.
 Notice: This is a translation into English of form no. 12B
 License number: 902745460-000058. Version 6.01. Registered to: Wihlborgs Fastigheter AB (publ.)
	 	Initial	 	Initial

  
  

 Page 4(4) 

 Bil 1 
  
 Här skall infogas relations ritningar 

			
	Wihlborgs	  	Appendix 2 to Lease Agreement No.
4811-                            

  
 The parties have agreed as follows
about reduction of the rent in conjunction with customary maintenance (an X in a box means that the text following thereafter applies). 
  

	 ̈	 	Reduction of the rent for obstacles to or infringement of the right of the user in consequence of the Landlord allowing work to be done in order to carry out customary
maintenance of the leased premises or the property is to be granted according to the rules of The Rent Act.  

  

	x	 	The Tenant is not entitled to reduction of the rent for obstacles to or infringement of the right of the user in consequence of the Landlord allowing work to be done in order to
carry out customary maintenance of the leased premises or the property. The Landlord shall, however, in good time inform the Tenant not only about the kind and the extent of the work but also about the starting point and the period during which the
work will be carried out.  

  

	 ̈	 	The parties are agreed that the right to reduction of the rent during the Landlord’s performance of customary maintenance of the leased premises or the property shall be
governed in accordance to the following.  

	

	    	 	                                      
                                        
                                        
                                        
                                

  

	    	 	                                      
                                        
                                        
                                        
                                

  

	    	 	                                      
                                        
                                        
                                        
                                

  

	    	 	                                      
                                        
                                        
                                        
                                

  

	    	 	                                      
                                        
                                        
                                        
                                

  

					
	 Place/date
	  	 	  	Place/date
			
	 Landlord
	  	 This is just a translation.
 Do not sign here!
 Sign the Swedish form!
	  	 
			
	 Printed name
	  	 	  	Printed name

  
  

 Swedish Property Federation form no. 12B, prepared in 1998 in consultation with the Swedish Federation of Trade and the Swedish Hotels and Restaurants
Association (SHR). Copying prohibited. 
 Notice: This is a translation into English of form no. 16 
 License number: 902745460-000058. Version 6.01. Registered to: Wihlborgs Fastigheter AB (publ.) 

					
	Wihlborgs	 	INDEX CLAUSE	 	 
	 	 	for non-residential premises	 	Appendix no. 3                

  

					
	Concerning	  	 Lease Agreement no
 4881-
	  	 Property designation
 Forskaren
1

		
	Landlord	  	Medeon Fastigheter AB
		
	Tenant	  	ACADIA Pharmaceuticals Inc.
		
	Clause	  	  
 Of the rent of SEK 7 145 000:- stipulated in
the Lease Agreement 100 % or SEK 7 145 000:- shall constitute the base rent. During the period of the Lease Agreement, a surcharge to the rent, constituting a certain percentage of the base rent, shall be payable with regard to changes
in the consumer price index (using the total index for 1980 as a base) according to the following:

											
					
	 	  	 	  	 	  	–	  	For lease agreements commencing during the period 1/1—30/6 the base rent is deemed to be adjusted to the index level for that of the previous
October.
					
	 	  	 	  	 	  	–	  	for lease agreements commencing during the period 1/7—31/12 the base rent is deemed to be adjusted to the index level for October of that
year.
					
	 	  	 	  	 	  	–	  	The index level for the October that the base rent is deemed to be adjusted to, as shown above, becomes the base figure unless otherwise agreed by designating a year
as per the following. Alternative agreed base figure: the index level of October 2004.

					
		
	 	  	Should the index level any following October have risen in relation to the base figure, the surcharge shall be calculated on the percentage by which the index has changed in
relation to the base figure. Future surcharges due will be based on the changes in the index, the rental change to be calculated on the percentage change between the base figure and the index level for the October in question.
		
	 	  	The rent payable shall nevertheless be adjusted below that stipulated in the Lease Agreement. A change in the rent is always effective from 1st January following an
adjustment occasioned by a recomputation due to a change in the index the previous October.
		
	 	  	The instructions in page 2 are applicable to the agreement.

							
				
	Signature	  	Place/date	  	 	  	Place/date
				
	 	  	Landlord	  	 This is just a translation.
 Do not sign
here!
 Sign the Swedish form!
	  	Tenant

					
			
	 	  	 	  	  

			
	 	  	 	  	  

			
	 	  	 Printed name
  
  
	  	 Printed name
  
  

  
   The
Landlord’s notes regarding the base figure: 
  
  
  

 Swedish Property Federation form no. 6E,
prepared in 1989 in consultation with the Swedish Federation of Trade and the Swedish Hotels and Restaurants Association (SHR). The examples in the instructions were revised in May 2002. Copying prohibited. 
 Notice: This is a translation into English of form no. 6E 
 License
number: 902745460-000058. Version 6.01. Registered to: Wihlborgs Fastigheter AB (publ.) 
  
  

 Page 1(2) 

 Instructions in respect of Index Clause for non-residential premises 
  
 Base Rent 
  
 Whether all or a part of the rent stipulated in the Lease Agreement shall consist of base rent, is a matter for negotiation and can depend
on the terms of the Lease Agreement (for example the quantum of the rent expressed as SEK/sq. m/per annum, and also for what other obligations the Tenant is responsible). 
  
 Base Figure 
  
 The index level for the October that the base rent is deemed to be aligned to becomes the base figure, unless otherwise agreed by designating a year (as per conditions
stated in page 1). 
  
 Comparison of index levels shall be done as soon as the
annual October index is published. During recent years the October index has been published by the middle of November. 
  
 Calculation of the Surcharge 
  

	1)	 	Calculate the difference between the relevant October index and the base figure. 

  

	2)	 	If the difference is positive, divide the difference by the base figure. 

  

	3)	 	The surcharge is calculated by multiplying the base rent by the factor thus determined. 

  
 Example 
  
 Calculation of the surcharge for 2002 
  
 Presume that the base rent is SEK 100 000 pa (per annum) and is aligned to the consumer price index for October 1999, which
is 259,7 (base figure). The October index for 2001 is 269,1. 
  

	 	1.	 	Calculate the difference between the index figure 269,1 and 259,7. The difference is positive and amounts to 9,4. 

  

	 	2.	 	Divide 9,4 by 259,7 and multiply the quotient (without rounding off) by the base rent SEK 100 000. The result is SEK 3 619:56, which according to the clause becomes the surcharge
for 2002. 

  
 Alternative A: Assume that the
consumer price index for October 2001 had been lower than the year before for example 262,0 (the index for October 2000 was 262,6). 
  
 The Difference between the assumed Index level 262,0 and the base figure 259,7 would still be positive and amount to 2,3. The quotient between 2,3 and the
base figure 259,7, multiplied by the base rent would have amounted to a surcharge of SEK 885:63. The total rent would however have been lower than for 2001. 
  
 Alternative B: Assume that the consumer price index for October 2001 had instead been lower than the base figure 259,7 for example 259,5.

  
 The difference between 259,5 and the base figure 259,7 would
than have been negative. No surcharge would apply. The rent stated in the Lease Agreement would apply. 
  

 Page 2(2) 

					
	Wihlborgs	 	PROPERTY TAX CLAUSE	 	 
	 	for non-residential premises	 	Appendix no. Bil 5            

  

							
	Part of	  	 Lease Agreement no.
 4881-
	  	 Property designation
 Forskaren
1

	Landlord	  	Medeon Fastigheter AB
		
	Tenant	  	ACADIA Pharmaceuticals Inc.
		
	Clause	  	The applicable alternative is indicated by putting an X in the relevant box and completing the requisite details.
		
	 	  	To the extent that the parts of the property that are comprised of non-residential premises are or become subject to property tax, the Tenant shall with the rent reimburse the
Landlord according to the conditions as indicated below.
		
	 	  	 x      The Tenant
shall in addition to the rent specified in the Lease Agreement annually reimburse the Landlord for his share of property tax due in respect of the non-residential premises. The Tenant’s share is deemed to be 100 per cent.
           According to the conditions that apply at the inception of the
Lease Agreement the reimbursement at the inception of the rental period is SEK ej kant a year.

		
	 	  	  ̈       Reimbursement in respect of the current share of property tax for the non-residential premises is included in the rent specified in the Lease Agreement and at its inception it is
SEK

		
	 	  	           The non-residential premises share of the property tax applying
to non-residential premises is deemed to be              per cent. The Tenant shall provide reimbursement for his share of any changes in the applicable property tax in respect of
non-residential premises that take effect after the inception of the Lease Agreement (irrespective of the cause) to the extent that the tax exceeds that amount that is included in the rent as reimbursement for property tax.

		
	 	  	           Should the property tax reduce/cease so that Tenant’s share
of the reimbursement is less than that as per above, which is included in the rent specified in the Lease Agreement, the rent shall nevertheless be payable at not less than the original amount. Thus due to other clauses (e.g. index) contained in the
agreement this means that the total rent payable by the Tenant is/can be greater than that shown in the Lease Agreement.

		
	 	  	The Tenant’s above specified share, which shall be unchanged during the term of the Lease Agreement, has been calculated as follows:
	 	  	  

  

  

		
	 	  	The instructions in page 2 are applicable to the agreement.
				
	Signature	  	Place/date	  	 	  	Place/date
				
	 	  	Landlord 	  	 This is just a translation.
 Do not
sign here!
 Sign the Swedish form!
	  	Tenant
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	Printed name	  	 	  	Printed name

  

 Swedish Property Federation. Form no. 7B, prepared in 1995. Item 2 in the instructions was revised in 1997. Copying prohibited. 
 Notice: This is a translation into English of form no. 7B 
 License number: 902745460-000058. Version 6.01.
Registered to: Wihlborgs Fastigheter AB (publ.) 
  

 Page 1(2) 

 Instructions – Property tax clause for non-residential premises 
  
 1. The clause was formulated in June 1995, i.e., before the time (normally the
1st of January 1995) from which property tax for premises applies. Therefore the clause has a wording which means
that it can be incorporated in agreements that have been made before the tax is payable, as well as in agreements where the tax is actually payable. 
  
 2. The reimbursement shall compensate for the increased costs of administration irrespective of who is liable for the tax. A property owner/Landlord is liable for
tax. According to previous regulations if the property owner/Landlord was a trading partnership the owners/shareholders were liable for tax. The supplement was nevertheless to be paid to the Landlord as a matter of course. After the 1st of January 1997 trading partnerships as such (and not the individual owners/shareholders) are liable for property tax.

  
 3. According to section 19 of the Rent Act the rent must – with
some exceptions – be determined in the Lease Agreement. If the rental period is fixed, and is for at least three years, certain additional exceptions apply in that the rent shall be payable with such sums which are determined according to
“different method of calculation” e.g. indexation. This also means that the rental period has to be fixed and be at least three years to enable the Landlord to obtain reimbursement for property tax in sums that can vary as the tax changes.
Furthermore the method of calculation must be shown in the Lease Agreement. The clause therefore presumes that the parties state what share of the tax the Tenant shall provide reimbursement for. 
  
 According to the regulations that apply when this clause is formulated the tax is comprised
of a certain percentage of the assessed value of the premises (both grounds and buildings). This information is to be found in the tax statement. The Tenant’s share of the tax for the premises can be determined by the relationship which the
extent of that area leased by the Tenant bears to the total lettable premises in the property or as a relationship between the Tenant’s rent and the total of the rents for premises in the property. 
  
 It is a matter for negotiation which method of calculation the parties choose. Other methods
of calculation can be used. For the sake of simplicity, however, the Tenant’s share should be unchanged during the rental period, and thereby independent of among other things, how the tax in the future might be calculated and possible changes
in the rental market. 
  
 It is therefore appropriate to show in the designated
space how the premises share has been calculated. Should details in respect of this not be completed this does not mean that the agreement becomes invalid. A property can comprise of a variety of different buildings with different value years and
different taxation categories (small dwelling houses, apartment blocks, industrial units and special units). The tax – that the Tenant is due to pay reimbursement for – shall only relate to the building in which the premises are located. A
building is normally defined as a free standing self-contained building. Relevant information can be ascertained from information regarding decisions referring to general property taxation that the tax authorities have advised the property owner.
Any property owner who has a problem in ascertaining the Tenant’s share should contact their property owners association for assistance. 
  
 Complete the Tenant’s share! 
  
 4. The clause contains two alternatives. In the first the reimbursement for the tax is payable as a supplement “alongside” the rent agreed in the Lease
Agreement. If the tax disappears so does the supplement. The other alternative presumes that the parties agree a specific rent which includes, among other things, reimbursement for the then applicable tax. Should the tax be increased irrespective of
the cause (for example increase in tax rates, increased assessed value etc) the Tenant shall nevertheless tender reimbursement for the increased cost. Should the tax disappear the rent reverts to the original sum, i.e., the agreed rent (which
includes reimbursement for the tax applicable at inception which has been discontinued). Naturally the Tenant shall continue to pay other supplements such as those caused by changes in indexes and in respect of increased fuel costs and so forth.

  
 5. To the extent that the Tenant pays a supplement in respect of
property tax the supplement should be accounted for separately on the rent invoice. 
  
 6. Indicate the chosen alternative with an X. In the chosen alternative the Tenant’s share and the sum should be filled in. Specify how the Tenant’s share has been calculated. 
  

 Page 2(2) 

 Appendix 7 
  

Special Provisions 
  

	1	 	Condition of the Premises 

  

	1.1	 	The premises are let in the condition set forth in the General Agreement entered into between the Landlord and the Tenant and shall be used as office and laboratory within the frame
of the Tenant’s enterprise. 

  

	2	 	Extension of term of lease 

  

	2.1	 	The Tenant shall have the right to extend the term of lease with an additional period of five (5) years from the expiration of the initial ten (10) year-term, on in all other
respects unaltered terms and conditions. 

  

	2.2	 	Should the Tenant not exercise its right of extension, the Tenant shall – in addition to the ordinary remaining rental payments – pay a penalty to the Landlord with an
amount corresponding to the annual rent of year ten of the initial ten year-term. 

  

	3	 	Early termination 

  

	3.1	 	The Tenant is entitled to terminate this Lease Agreement by giving notice twelve (12) months in advance. 

  

	3.2	 	Should the Tenant exercise its right of early termination set forth in 3.1 above, the Tenant shall pay to the Landlord compensation with an amount corresponding to two thirds (2/3)
of the total amount of all future rental payments. 

  

	3.3	 	The compensation for the period 2005-06-01 – 2007-05-31 shall amount to maximum SEK 40,000,000 (forty million) and for the period 2007-06-01 – 2015-05-31 to maximum SEK
35,000,000 (thirty five million). 

  

	3.4	 	The obligation for the Tenant to compensate the landlord shall under no circumstances be less than an amount corresponding to the annual rent for two (2) years.

  

 1(2) 

	4	 	Subletting 

  

	4.1	 	The Tenant may sublet the premises, in whole or partly, provided that the Landlord reasonably should be content with the new sub-tenant and provided that the subletting entails a
liability to pay value-added tax. 

  

	4.2	 	Subletting is permitted under the prerequisite that the Tenant has the full responsibility for any and all obligations under this Lease Agreement. 

  

	5	 	Use of the premises 

  

	5.1	 	The Tenant is solely responsible for the observation of applicable law and regulation as regards use of the premises. The Tenant shall indemnify the Landlord for any losses relating
to the Tenant’s omission to fulfill his liability set forth in this section. 

  

	6	 	English translation 

  

	6.1	 	An English translation of the lease Agreement with appendices has been enclosed to the agreement, Appendix 8. Should any dispute arise regarding the interpretation of this
Lease Agreement, the parties have agreed that the Swedish version of this Lease Agreement with appendices shall precede. 

  

  

			
	 Place:
	  	Place:
		
	 Date:
	  	Date:
		
	 MEDEON FASTIGHETER AB
	  	ACADIA PHARMACEUTICALS INC.

  
 [This is just a
translation. Do not sign here!] 
  

			
	
	 	

  

 2(2)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}]]