Document:

EX-10.8

 Exhibit 10.8 
  

 
 INCENTIVE STOCK OPTION AGREEMENT 

UNDER THE CEREVEL THERAPEUTICS HOLDINGS, INC. 

2020 EQUITY INCENTIVE PLAN 
  

			
	Name of Optionee:	 	
		
	No. of Option Shares:	 	
		
	Option Exercise Price per Share:	 	
		
	Grant Date:	 	
		
	Expiration Date:	 	

 Pursuant to the Cerevel Therapeutics Holdings, Inc. 2020 Equity Incentive Plan as amended through the date
hereof (the “Plan”), Cerevel Therapeutics Holdings, Inc. (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to purchase on or prior to the Expiration Date
specified above all or part of the number of shares of Common Stock, par value $0.00001 per share (the “Stock”), of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and
conditions set forth herein and in the Plan. 
 1. Exercisability Schedule. No portion of this Stock Option may be exercised until
such portion shall have become exercisable. Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be
exercisable in accordance with the following schedule so long as the Optionee maintains a continuous Service Relationship with the Company or a Subsidiary on such dates: 
  

	 	•	 	 [__]% of the Option Shares shall become exercisable [__] months after the Grant Date, and

  

	 	•	 	 [__]% of the Option Shares shall become exercisable each [year/quarter/month] thereafter. 

Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to the
provisions hereof and of the Plan. 
 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 

 Cerevel Therapeutics Holdings, Inc. 

Incentive Stock Option Agreement 
  Page
 2
 of 5 
  

 Payment of the purchase price for the Option Shares may be made by one or more of the
following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the Optionee on the
open market or that are beneficially owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; or (iii) by the Optionee
delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that
in the event the Optionee chooses to pay the option purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as
a condition of such payment procedure; or (iv) a combination of (i), (ii) and (iii) above. Payment instruments will be received subject to collection. 

The transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i) the
Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and
(iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent
resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock
transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 
 (b) The shares of Stock
purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or
regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder
of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have
transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect
to such shares of Stock. 
 (c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be
exercisable after the Expiration Date hereof. 

 Cerevel Therapeutics Holdings, Inc. 

Incentive Stock Option Agreement 
  Page
 3
 of 5 
  

 3. Termination of Service Relationship. If the Optionee’s Service Relationship is
terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 
 (a)
Termination Due to Death. If the Optionee’s Service Relationship terminates by reason of the Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter
be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall
terminate immediately and be of no further force or effect. 
 (b) Termination Due to Disability. If the Optionee’s Service
Relationship terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may thereafter be
exercised by the Optionee for a period of 12 months from the date of disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of disability shall terminate immediately and be of no
further force or effect. 
 (c) Termination for Cause. If the Optionee’s Service Relationship terminates for Cause, any portion
of this Stock Option outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment agreement between the Company and the
Optionee, a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of, indictment for
or plea of nolo contendere by the Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance (other than by reason of disability)
by the Optionee of the Optionee’s duties to the Company. 
 (d) Other Termination. If the Optionee’s Service Relationship
terminates for any reason other than the Optionee’s death, the Optionee’s disability, or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be exercised, to the extent
exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination shall terminate
immediately and be of no further force or effect. 
 The Administrator’s determination of the reason for termination of the
Optionee’s Service Relationship shall be conclusive and binding on the Optionee and his or her representatives or legatees. 
 4.
Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b)
of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein. 

 Cerevel Therapeutics Holdings, Inc. 

Incentive Stock Option Agreement 
  Page
 4
 of 5 
  

 5. Transferability. This Agreement is personal to the Optionee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s
lifetime, only by the Optionee, and thereafter, only by the Optionee’s legal representative or legatee. 
 6. Status of the Stock
Option. This Stock Option is intended to qualify as an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), but the Company does not represent or warrant that
this Stock Option qualifies as such. The Optionee should consult with his or her own tax advisors regarding the tax effects of this Stock Option and the requirements necessary to obtain favorable income tax treatment under Section 422 of the
Code, including, but not limited to, holding period requirements. To the extent any portion of this Stock Option does not so qualify as an “incentive stock option,” such portion shall be deemed to be a
non-qualified stock option. If the Optionee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any Option Shares within the one-year
period beginning on the date after the transfer of such shares to him or her, or within the two-year period beginning on the day after the grant of this Stock Option, he or she will so notify the Company
within 30 days after such disposition. 
 7. Tax Withholding. The Optionee shall, not later than the date as of which the exercise of
this Stock Option becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such
taxable event. The Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued to the Optionee a number of shares of Stock with an
aggregate Fair Market Value that would satisfy the withholding amount due ; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to the Optionee, the number of shares of Stock necessary to satisfy the
Federal, state and local taxes required by law to be withheld from the Optionee on account of such transfer. 
 8. No Obligation to
Continue Service. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Optionee in employment or any other Service Relationship and neither the Plan nor this Agreement shall
interfere in any way with the right of the Company or any Subsidiary to terminate the Service Relationship of the Optionee at any time. 
 9.
Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

 Cerevel Therapeutics Holdings, Inc. 

Incentive Stock Option Agreement 
  Page
 5
 of 5 
  

 10. Data Privacy Consent. In order to administer the Plan and this Agreement and to
implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not
limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant
Information”). By entering into this Agreement, the Optionee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may
have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the
Relevant Companies consider appropriate. The Optionee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

11. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	CEREVEL THERAPEUTICS HOLDINGS, INC.
		
	By:	 	  

		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

					
	Dated:	 	  
	  	  

		 		  	Optionee’s Signature
			
		 		  	Optionee’s name and address:
			
		 		  	  

			
		 		  	  

			
		 		  	  

 

 
 NON-QUALIFIED STOCK OPTION AGREEMENT 

UNDER THE CEREVEL THERAPEUTICS HOLDINGS, INC. 

2020 EQUITY INCENTIVE PLAN 

(Employees) 
  

			
	Name of Optionee:	 	
		
	No. of Option Shares:	 	
		
	Option Exercise Price per Share:	 	
		
	Grant Date:	 	
		
	Expiration Date:	 	

 Pursuant to the Cerevel Therapeutics Holdings, Inc. 2020 Equity Incentive Plan as amended through the date
hereof (the “Plan”), Cerevel Therapeutics Holdings, Inc. (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to purchase on or prior to the Expiration Date
specified above all or part of the number of shares of Common Stock, par value $0.00001 per share (the “Stock”) of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and
conditions set forth herein and in the Plan. This Stock Option is not intended to be an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended. 

1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except as
set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable in accordance with the following schedule so
long as Optionee maintains a continuous Service Relationship with the Company or a Subsidiary on such dates: 
  

	 	•	 	 [__]% of the Option Shares shall become exercisable [__] months after the Grant Date, and

  

	 	•	 	 [__]% of the Option Shares shall become exercisable each [year/quarter/month] thereafter. 

Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to
the provisions hereof and of the Plan. 
 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 
  

 Cerevel Therapeutics Holdings, Inc. 

Non-Qualified Stock Option Agreement 
 Page 2 of 5 

 

 Payment of the purchase price for the Option Shares may be made by one or more of the
following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the Optionee on the
open market or that are beneficially owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; (iii) by the Optionee
delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that
in the event the Optionee chooses to pay the option purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as
a condition of such payment procedure; (iv) by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market
Value that does not exceed the aggregate exercise price; or (v) a combination of (i), (ii), (iii) and (iv) above. Payment instruments will be received subject to collection. 

The transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i) the
Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and
(iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent
resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock
transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 
 (b) The shares of Stock
purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or
regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder
of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have
transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect
to such shares of Stock. 

 Cerevel Therapeutics Holdings, Inc. 

Non-Qualified Stock Option Agreement 
 Page 3 of 5 

 

 (c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock
Option shall be exercisable after the Expiration Date hereof. 
 3. Termination of Service Relationship. If the Optionee’s
Service Relationship is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a) Termination Due to Death. If the Optionee’s Service Relationship terminates by reason of the Optionee’s death, any portion
of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the
Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect. 

(b) Termination Due to Disability. If the Optionee’s Service Relationship terminates by reason of the Optionee’s disability
(as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may thereafter be exercised by the Optionee for a period of 12 months from the date of
disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s Service Relationship terminates for Cause, any portion of this Stock Option
outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment or other service agreement between the Company and the
Optionee, a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of, indictment for or
plea of nolo contendere by the Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance (other than by reason of disability) by
the Optionee of the Optionee’s duties to the Company. 
 (d) Other Termination. If the Optionee’s Service Relationship
terminates for any reason other than the Optionee’s death, the Optionee’s disability or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be exercised, to the extent
exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination shall terminate
immediately and be of no further force or effect. 
 The Administrator’s determination of the reason for termination of the
Optionee’s Service Relationship shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

 Cerevel Therapeutics Holdings, Inc. 

Non-Qualified Stock Option Agreement 
 Page 4 of 5 

 

 4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock
Option shall be subject to and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the
Plan, unless a different meaning is specified herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s
lifetime, only by the Optionee, and thereafter, only by the Optionee’s legal representative or legatee. 
 6. Tax Withholding.
The Optionee shall, not later than the date as of which the exercise of this Stock Option becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal,
state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares
of Stock to be issued to the Optionee a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to
the Optionee, the number of shares of Stock necessary to satisfy the Federal, state and local taxes required by law to be withheld from the Optionee on account of such transfer. 

7. No Obligation to Continue Service. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this
Agreement to continue the Optionee in employment or any other Service Relationship and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Service Relationship of the
Optionee at any time. 
 8. Integration. This Agreement constitutes the entire agreement between the parties with respect to this
Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 
 9. Data Privacy
Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may
process any and all personal or professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the
administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all
Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and
(iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have access to, and the right to change, the Relevant Information. Relevant Information will
only be used in accordance with applicable law. 

 Cerevel Therapeutics Holdings, Inc. 

Non-Qualified Stock Option Agreement 
 Page 5 of 5 

 

 10. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	CEREVEL THERAPEUTICS HOLDINGS, INC.
		
	By:	 	 
		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

					
	Dated:	 	  
	 	  

		 		 	Optionee’s Signature
			
		 		 	Optionee’s name and address:
			
		 		 	  

			
		 		 	  

			
		 		 	  

 

 
 NON-QUALIFIED STOCK OPTION AGREEMENT 

UNDER THE CEREVEL THERAPEUTICS HOLDINGS, INC. 

2020 EQUITY INCENTIVE PLAN 
 (Non-Employee Directors) 
  

			
	Name of Optionee:	 	
		
	No. of Option Shares:	 	
		
	Option Exercise Price per Share:	 	
		
	Grant Date:	 	
		
	Expiration Date:	 	

 Pursuant to the Cerevel Therapeutics Holdings, Inc. 2020 Equity Incentive Plan as amended through the date
hereof (the “Plan”), Cerevel Therapeutics Holdings, Inc. (the “Company”) hereby grants to the Optionee named above, who is a Non-Employee Director of the Company but is not an
employee of the Company, an option (the “Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of shares of Common Stock, par value $0.00001 per share (the “Stock”),
of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. This Stock Option is not intended to be an “incentive stock option” under
Section 422 of the Internal Revenue Code of 1986, as amended. 
 1. Exercisability Schedule. No portion of this Stock Option may
be exercised until such portion shall have become exercisable. Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock
Option shall be exercisable in accordance with the following schedule so long as the Optionee maintains a continuous Service Relationship with the Company or a Subsidiary on such dates: 

 

	 	•	 	 [__]% of the Option Shares shall become exercisable [__] months after the Grant Date[, and

  

	 	•	 	 [__]% of the Option Shares shall become exercisable each [year/quarter/month] thereafter]. 

Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to
the provisions hereof and of the Plan. 
 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 
  

 Cerevel Therapeutics Holdings, Inc. 

Non-Qualified Stock Option Agreement (Non-Employee Directors) 

Page 2 of 4 
  

 Payment of the purchase price for the Option Shares may be made by one or more of the
following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the Optionee on the
open market or that are beneficially owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; (iii) by the Optionee
delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that
in the event the Optionee chooses to pay the option purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as
a condition of such payment procedure; (iv) by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market
Value that does not exceed the aggregate exercise price; or (v) a combination of (i), (ii), (iii) and (iv) above. Payment instruments will be received subject to collection. 

The transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i) the
Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and
(iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent
resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock
transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 
 (b) The shares of Stock
purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or
regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder
of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have
transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect
to such shares of Stock. 

 Cerevel Therapeutics Holdings, Inc. 

Non-Qualified Stock Option Agreement (Non-Employee Directors) 

Page 3 of 4 
  

 (c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock
Option shall be exercisable after the Expiration Date hereof. 
 3. Termination of Service Relationship. If the Optionee’s
Service Relationship terminates, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a) Termination Due to Death. If the Optionee’s Service Relationship terminates by reason of the Optionee’s death, any portion
of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the
Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect. 

(b) Other Termination. If the Optionee’s Service Relationship terminates for any reason other than the Optionee’s death, any
portion of this Stock Option outstanding on such date may be exercised, to the extent exercisable on the date of termination, for a period of three (3) months from the date the Optionee’s Service Relationship terminates or until the
Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date the Optionee’s Service Relationship terminates shall terminate immediately and be of no further force or effect. 

4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all the
terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 5. Transferability. This Agreement is personal to the Optionee, is non-assignable and is
not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by the
Optionee’s legal representative or legatee. 
 6. No Obligation to Continue Service. Neither the Plan nor this Stock Option
confers upon the Optionee any rights with respect to continuance as a Non-Employee Director or in any other Service Relationship. 

7. Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and supersedes all
prior agreements and discussions between the parties concerning such subject matter. 
 8. Data Privacy Consent. In order to
administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal
or professional data, including but not limited to Social Security or other identification number, home 

 Cerevel Therapeutics Holdings, Inc. 

Non-Qualified Stock Option Agreement (Non-Employee Directors) 

Page 4 of 4 
  

 
address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant
Information”). By entering into this Agreement, the Optionee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may
have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the
Relevant Companies consider appropriate. The Optionee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

9. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	CEREVEL THERAPEUTICS HOLDINGS, INC.
		
	By:	 	 
		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

					
	 Dated:
	 	  
	 	  

		 		 	     Optionee’s Signature

			
		 		 	     Optionee’s name and address:

			
		 		 	  

			
		 		 	  

			
		 		 	  

 

 
 RESTRICTED STOCK UNIT AWARD AGREEMENT 

UNDER THE CEREVEL THERAPEUTICS HOLDINGS, INC. 

2020 EQUITY INCENTIVE PLAN 

(Employees) 
  

			
	Name of Grantee:	 	
		
	No. of Restricted Stock Units:	 	
		
	Grant Date:	 	

 Pursuant to the Cerevel Therapeutics Holdings, Inc. 2020 Equity Incentive Plan as amended through the date
hereof (the “Plan”), Cerevel Therapeutics Holdings, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units listed above (an “Award”) to the Grantee named above. Each
Restricted Stock Unit shall relate to one share of Common Stock, par value $0.00001 per share (the “Stock”) of the Company. 

1. Restrictions on Transfer of Award. This Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of
by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until (i) the Restricted Stock Units have vested as provided in Paragraph 2 of
this Agreement and (ii) shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this Agreement. 

2. Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the Vesting
Date or Dates specified in the following schedule so long as the Grantee maintains a continuous Service Relationship with the Company or a Subsidiary on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in
Paragraph 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. 
  

							
	 	 	 Incremental Number of 
Restricted Stock Units Vested
	  	 Vesting Date
	  	 
		 	_____________ (___%)	  	  
	  	
		 	_____________ (___%)	  	  
	  	
		 	_____________ (___%)	  	  
	  	
		 	_____________ (___%)	  	  
	  	

 The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2. 

3. Termination of Service. If the Grantee’s Service Relationship with the Company and its Subsidiaries terminates for any reason
(including death or disability) prior to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock Units that have not vested as of such date shall automatically and without notice terminate and be forfeited,
and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock Units. 

 

 Cerevel Therapeutics Holdings, Inc. 

Restricted Stock Unit Agreement (Employees) 
 Page 2 of 3 

 

 4. Issuance of Shares of Stock. As soon as practicable following each Vesting Date
(but in no event later than two and one-half months after the end of the year in which the Vesting Date occurs), the Company shall issue to the Grantee the number of shares of Stock equal to the aggregate
number of Restricted Stock Units that have vested pursuant to Paragraph 2 of this Agreement on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares. 

5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the
terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 6. Tax Withholding. The Grantee shall, not later than the date as of which the receipt of this Award becomes a taxable event for
Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the
authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued to the Grantee a number of shares of Stock with an aggregate Fair Market Value that would
satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to the Grantee, the number of shares of Stock necessary to satisfy the Federal, state and local taxes required by law
to be withheld from the Grantee on account of such transfer. 
 7. Section 409A of the Code. This Agreement shall be interpreted in
such a manner that all provisions relating to the settlement of the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in Section 409A of the Code. 

8. No Obligation to Continue Service. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this
Agreement to continue the Grantee in employment or any other Service Relationship and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Service Relationship of the Grantee
at any time. 
 9. Integration. This Agreement constitutes the entire agreement between the parties with respect to this Award and
supersedes all prior agreements and discussions between the parties concerning such subject matter. 
 10. Data Privacy Consent. In
order to administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all
personal or professional data, including but not limited to Social Security or other identification number, home 

 Cerevel Therapeutics Holdings, Inc. 

Restricted Stock Unit Agreement (Employees) 
 Page 3 of 3 

 

 
address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant
Information”). By entering into this Agreement, the Grantee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Grantee may
have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the
Relevant Companies consider appropriate. The Grantee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

11. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	CEREVEL THERAPEUTICS HOLDINGS, INC.
		
	By:	 	 
		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

					
	Dated:	 	  
	 	  

		 		 	Grantee’s Signature
			
		 		 	Grantee’s name and address:
			
		 		 	  

			
		 		 	  

 

			
		 		 	

 

 
 RESTRICTED STOCK UNIT AWARD AGREEMENT 

UNDER THE CEREVEL THERAPEUTICS HOLDINGS, INC. 

2020 EQUITY INCENTIVE PLAN 
 (Non-Employee Directors) 
  

			
	Name of Grantee:	 	
		
	No. of Restricted Stock Units:	 	
		
	Grant Date:	 	

 Pursuant to the Cerevel Therapeutics Holdings, Inc. 2020 Equity Incentive Plan as amended through the date
hereof (the “Plan”), Cerevel Therapeutics Holdings, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units listed above (an “Award”) to the Grantee named above. Each
Restricted Stock Unit shall relate to one share of Common Stock, par value $0.00001 per share (the “Stock”) of the Company. 

1. Restrictions on Transfer of Award. This Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of
by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until (i) the Restricted Stock Units have vested as provided in Paragraph 2 of
this Agreement and (ii) shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this Agreement. 

2. Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the Vesting
Date or Dates specified in the following schedule so long as the Grantee maintains a continuous Service Relationship with the Company or a Subsidiary on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in
Paragraph 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. 
  

							
	 	 	 Incremental Number of 
Restricted Stock Units Vested
	  	 Vesting Date
	  	 
	 	 	_____________ (___%)	  	 	  	 
		 	_____________ (___%)	  		  	
		 	_____________ (___%)	  		  	
		 	_____________ (___%)	  		  	

 The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2. 

3. Termination of Service . If the Grantee’s Service Relationship terminates for any reason (including death or disability) prior
to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock Units that have not vested as of such date shall automatically and without notice terminate and be forfeited, and neither the Grantee nor any of his
or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock Units. 
  

 Cerevel Therapeutics Holdings, Inc. 

Restricted Stock Unit Agreement (Non-Employee Directors) 
 Page 2
of 3 
  

 4. Issuance of Shares of Stock. As soon as practicable following each Vesting Date
(but in no event later than two and one-half months after the end of the year in which the Vesting Date occurs), the Company shall issue to the Grantee the number of shares of Stock equal to the aggregate
number of Restricted Stock Units that have vested pursuant to Paragraph 2 of this Agreement on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares. 

5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the
terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 6. Section 409A of the Code. This Agreement shall be interpreted in such a manner that all provisions relating to the settlement of
the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in Section 409A of the Code. 

7. No Obligation to Continue Service. Neither the Plan nor this Award confers upon the Grantee any rights with respect to continuance as
a Non-Employee Director or in any other Service Relationship. 
 8. Integration. This
Agreement constitutes the entire agreement between the parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

9. Tax Withholding. The Grantee shall, not later than the date as of which the receipt of this Award becomes a taxable event for Federal
income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the authority
to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued to the Grantee a number of shares of Stock with an aggregate Fair Market Value that would satisfy the
withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to the Grantee, the number of shares of Stock necessary to satisfy the Federal, state and local taxes required by law to be
withheld from the Grantee on account of such transfer. 
 10. Data Privacy Consent. In order to administer the Plan and this Agreement
and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but
not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant
Information”). By entering 

 Cerevel Therapeutics Holdings, Inc. 

Restricted Stock Unit Agreement (Non-Employee Directors) 
 Page 3
of 3 
  

 
into this Agreement, the Grantee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights
the Grantee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any
jurisdiction in which the Relevant Companies consider appropriate. The Grantee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

11. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	CEREVEL THERAPEUTICS HOLDINGS, INC.
		
	By:	 	 
		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

					
	Dated:	 	  
	 	  

		 		 	Grantee’s Signature
			
		 		 	Grantee’s name and address:EX-10.10

 Exhibit 10.10 

EMPLOYMENT AGREEMENT 
 This
EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of November 23, 2018 by and between Cerevel Therapeutics, LLC (the “Company”) and Dr. N. Anthony Coles, Jr. (the
“Executive”). 
 WHEREAS, the Executive possesses certain experience and expertise that qualifies him to provide the
direction and leadership required by the Company; and 
 WHEREAS, the Company desires to employ the Executive as Chief Executive Officer of
the Company and the Executive wishes to accept such employment; 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein
and intending to be legally bound hereby, the Company and the Executive agree as follows: 
 1. Position and Duties. 

(a) During the period from November 27, 2018 (the “Effective Date”) until no later than March 31, 2019 (such date,
the “Executive Start Date”), the Executive shall serve as the Executive Chairman of the Company and Cerevel Therapeutics, Inc. (“Parent”). In this capacity, the Executive will undertake a strategic leadership role
for the Company, and provide guidance and oversight for the management of the Company and Parent, and their day-to-day operations. As of the Executive Start Date, the
Executive will serve as the Chairman of the Board of Directors of Parent and Chief Executive Officer of the Company and Parent. In addition, the Executive may be asked from time to time to serve as an officer or director of one or more of the
Company’s Affiliates, without further compensation. Notwithstanding any provision herein to the contrary, the parties acknowledge that until the Executive Start Date, the Executive shall continue in his current role as Chairman and Chief
Executive Officer of Yumanity Therapeutics, Inc. (“Yumanity”), and after the Executive Start Date may continue to serve as Executive Chairman of Yumanity, and be required to devote appropriate time and efforts to those roles. 

(b) As of the Effective Date, the Executive agrees to perform the duties of his position and such other duties as may reasonably be assigned to
the Executive from time to time by Parent’s Board of Directors (or such other board of directors or managers as may be designated as the operative governing body of the Company from time to time, the “Board”) that are
consistent with the Executive’s role. The Executive also agrees that, while employed by the Company, he will devote substantially all of his business time and his best efforts, business judgment, skill and knowledge exclusively to the
advancement of the business interests of the Company and its Affiliates and to the discharge of his duties and responsibilities for them. Except as provided in Section 1(a) above and this Section 1(b), the Executive shall not engage in any
other business activity or serve in any industry, trade, professional, governmental or academic position during his employment, except as may be expressly approved in advance by the Board in writing, which approval shall include the Executive’s
role as a member of the boards of directors of at least two and up to three for-profit entities, subject to Board approval of such entities (with such approval not to be unreasonably withheld and any
consideration of 
  

 
approval taking into account the Executive’s compliance with applicable shareholder service guidelines governing participation on outside boards), which entities shall initially consist of
Yumanity, McKesson Corporation, and Regeneron Pharmaceuticals, Inc.; provided, however, that the Executive may without advance consent participate in not for profit and charitable activities and engage in personal investment
activities, in each case to the extent such activities, roles or positions, individually or in the aggregate, do not materially interfere with the performance of the Executive’s duties under this Agreement, create a conflict of interest or
violate any provision of Section 3 of this Agreement. Notwithstanding the foregoing, the Executive and the Company will cooperate to determine a reasonable end date for any board service obligations of the Executive beyond those permitted
hereunder. 
 (c) The Executive agrees that, while employed by the Company, he will comply with all Company policies, practices and
procedures and all codes of ethics or business conduct applicable to his position, as in effect from time to time. 
 2. Compensation and
Benefits. During the Executive’s employment hereunder, as compensation for all services performed by the Executive for the Company and its Affiliates, the Company will provide the Executive the following compensation and benefits.

 (a) Base Salary. As of the Effective Date, the Company will pay the Executive a base salary at the rate of $300,000 per year, which
shall be increased to the rate of $600,000 per year as of the Executive Start Date, payable in accordance with the regular payroll practices of the Company and subject to increases from time to time by the Board in its discretion (as increased, from
time to time, the “Base Salary”). 
 (b) Bonus Compensation. As of the Effective Date, for each fiscal year completed
during the Executive’s service under this Agreement, the Executive will be eligible to earn an annual bonus (each, an “Annual Bonus”). The Executive’s target bonus will be 50% of the Base Salary for the relevant period of
service (the “Target Bonus”), pro-rated for a partial initial year of service, with the actual amount of any such Annual Bonus to be determined by the Board, based on the Executive’s
performance and the Company’s performance against goals determined by the Board in its discretion after consultation with the Executive, and paid between January 1st and March 15th of the calendar year immediately following the year to which such Annual Bonus relates or, if later, promptly following the date of completion of the Company’s audit for the year to which such
Annual Bonus relates (but in no event later than December 31st of such year). In order to receive any Annual Bonus hereunder, the Executive must be employed through the last day of the year to
which such Annual Bonus relates. 
 (c) Equity. The Executive will be eligible to receive a grant of stock options (the
“Options”) to purchase common stock of Parent and may be eligible to receive additional grants of stock options and/or other stock-based awards as determined by the Board from time to time (any such awards, collectively with the
Options, the “Equity Awards”). The Options shall be granted pursuant to an equity incentive plan and individual option award agreement (the “Award”). Notwithstanding anything to the contrary in (i) the
Stockholders’ Agreement by and among Parent and the Stockholders party thereto, dated as of September 24, 2018 (as it may be amended from time to time, the “Stockholders Agreement”), (ii) the applicable equity incentive

  
 2 

 plan and (iii) the applicable individual award agreement (including the Award), all Equity Awards
granted to the Executive (including, without limitation, the Options) that are subject to time-based vesting and outstanding as of the date of a Liquidity Event shall accelerate and become exercisable or nonforfeitable immediately prior to such
Liquidity Event. 
 (d) Participation in Employee Benefit Plans. The Executive will be entitled to participate in all employee benefit
plans from time to time in effect for employees of the Company generally, except to the extent such plans are duplicative of benefits otherwise provided to the Executive under this Agreement (e.g., a severance pay plan). The Executive’s
participation will be subject to the terms of the applicable plan documents and generally applicable Company policies, as the same may be in effect from time to time, and any other restrictions or limitations imposed by law. 

(e) Vacations. The Executive will be entitled to earn vacation days in accordance with the policies of the Company, as in effect from
time to time. Vacation may be taken at such times and intervals as the Executive shall determine, subject to the business needs of the Company. 

(f) Business Expenses. The Company will pay or reimburse the Executive for all reasonable business expenses incurred or paid by the
Executive in the performance of his duties and responsibilities for the Company, subject to any reasonable restrictions on such expenses set by the Company and to such reasonable substantiation and documentation as may be specified by the Company
from time to time. The Executive’s right to payment or reimbursement hereunder or under Section 2(g) below shall be subject to the following additional rules: (i) the amount of expenses eligible for payment or reimbursement during any
calendar year shall not affect the expenses eligible for payment or reimbursement in any other calendar year, (ii) payment or reimbursement shall be made in accordance with the Company’s practice and policy, but not later than
December 31 of the calendar year following the calendar year in which the expense or payment was incurred and (iii) the right to payment or reimbursement shall not be subject to liquidation or exchange for any other benefit. 

(g) Living Expenses. During the first twenty-four (24) months following the Effective Date, the Company will reimburse the
Executive for up to $18,000 per month for (i) reasonable living and commuting expenses incurred or paid by the Executive in maintaining a residence and commuting to work in the greater Boston, Massachusetts area (the “Living
Expenses”), subject to such reasonable substantiation and documentation as may be specified by the Company from time to time, and (ii) taxes incurred by the Executive with respect to reimbursement of the Living Expenses (the
“Taxes”). In the event that the Executive’s employment with the Company is terminated by the Company for Cause or by the Executive without Good Reason on or before the twenty-four (24) month anniversary of the Effective
Date, the Executive agrees to repay to the Company, within thirty (30) days following the date of termination, one half of the full amount of the Living Expenses and Taxes reimbursed as of the date of termination. 

(h) Legal Fees. The Company shall reimburse the Executive for up to $75,000 of legal fees incurred by the Executive in the negotiation
and preparation of this Agreement and related documentation, including, without limitation, the agreement governing the Options. 

  
 3 

 3. Confidential Information and Restricted Activities. 

(a) Confidential Information. During the course of the Executive’s employment and other associations with the Company (including in
his capacity as an equityholder), the Executive will learn of Confidential Information, and will develop Confidential Information on behalf of the Company and its Affiliates. The Executive agrees that he will not use or disclose to any Person
(except as required by applicable law or for the proper performance of his regular duties and responsibilities for the Company) any Confidential Information obtained by the Executive incident to his employment or any other association with the
Company or any of its Affiliates (whether during or after the Executive’s employment or other association with the Company with the Company or any of its Affiliates). The Executive agrees that this restriction will continue to apply after his
employment terminates, regardless of the reason for such termination. For the avoidance of doubt, (i) nothing contained in this Agreement limits, restricts or in any other way affects the Executive’s communicating with any governmental
agency or entity, or communicating with any official or staff person of a governmental agency or entity, concerning matters relevant to such governmental agency or entity and (ii) the Executive will not be held criminally or civilly liable
under any federal or state trade secret law for disclosing a trade secret (y) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or
investigating a suspected violation of law, or (z) in a complaint or other document filed under seal in a lawsuit or other proceeding; provided, however, that notwithstanding this immunity from liability, the Executive may be held
liable if he unlawfully accesses trade secrets by unauthorized means. Notwithstanding anything to the contrary set forth in the Stockholders Agreement, during the course of Executive’s employment with the Company, this Section 3(a) shall
supersede Section 7.5 of the Stockholders Agreement as applied to the Executive. 
 (b) Protection of Documents. All documents,
records and files, in any media of whatever kind and description, relating to the business, present or otherwise, of the Company or any of its Affiliates, and any copies, in whole or in part, thereof (the “Documents”), whether or
not prepared by the Executive, shall be the sole and exclusive property of the Company. The Executive agrees to safeguard all Documents and to surrender to the Company, at the time his employment terminates or at such earlier time or times as the
Board or its designee may specify, all Documents then in his possession or control. The Executive also agrees to disclose to the Company, at the time his employment terminates or at such earlier time or times as the Board or its designee may
specify, all passwords necessary or desirable to obtain access to, or that would assist in obtaining access to, any information which the Executive has password-protected on any computer equipment, network or system of the Company or any of its
Affiliates. 
 (c) Assignment of Rights to Intellectual Property. The Executive shall promptly and fully disclose all Intellectual
Property to the Company. The Executive hereby assigns and agrees to assign to the Company (or as otherwise directed by the Company) his full right, title and interest in and to all Intellectual Property. The Executive agrees to execute any and all
applications for domestic and foreign patents, copyrights or other proprietary rights and 

  
 4 

 
to do such other acts (including without limitation the execution and delivery of instruments of further assurance or confirmation) requested by the Company to assign the Intellectual Property to
the Company (or as otherwise directed by the Company) and to permit the Company to enforce any patents, copyrights or other proprietary rights to the Intellectual Property. The Company will compensate the Executive at an hourly rate calculated based
on his final Base Salary for time spent in complying with these obligations at the request of the Company following the termination of the Executive’s employment. All copyrightable works of Intellectual Property that the Executive creates
during his employment shall be considered “work made for hire” and shall, upon creation, be owned exclusively by the Company. 

(d) Restricted Activities. In consideration of and as a condition of Executive’s employment by the Company, and of the compensation
and other benefits to be provided to Executive hereunder, and in recognition of the fact that, as an executive of the Company, Executive will have access to the Company’s Confidential Information, including trade secrets and in exchange for
other good and valuable consideration, including without limitation the Annual Bonus opportunity, the Options, the Living Expenses, and the Severance Payments provided herein, the Executive agrees that the following restrictions on his activities
during his employment are necessary to protect the goodwill, Confidential Information, trade secrets and other legitimate interests of the Company and its Affiliates: 

(i) While the Executive is employed by the Company and during the twelve (12)-month period immediately following termination of his employment
(or twenty-four (24) months if the Executive breaches his fiduciary duty to the Company or any of its Affiliates or if the Executive has unlawfully taken, physically or electronically, property belonging to the Company), for any reason except
termination due to layoff or termination by the Company without Cause (in the aggregate, the “Non-Competition Period”), the Executive will not, directly or indirectly, whether as owner,
partner, investor, consultant, agent, employee, co-venturer or otherwise, engage in or compete with, or undertake any planning to engage in or compete with, 

(x) any small molecule programs directed at drugging the following targets with the specified pharmacological approaches: (a) Dopamine D1 receptor
agonists, (b) GABA alpha2/alpha3 selective PAMs, (c) Muscarinic M4 receptor PAMs or full orthosteric agonists, (d) Dopamine D3 antagonists, (e) Kappa opiate receptor antagonist, (f) LRRK2 enzyme inhibitors, (g) PDE4
enzyme inhibitors, (h) GBA enzyme activators, and/or (i) APOE3 modulators, in each case, in the nervous system disease space, or (y) any other program that has been or is being conducted, is in active studies or clinical trials to be
conducted or with respect to which material resources have been committed, in each case, by the Company or any of its Affiliates at any time during the Executive’s employment with the Company (each, a “Planned Program”) or,
with respect to the portion of the Non-Competition Period that follows termination of the Executive’s employment, at the time of such termination, in any case involving any of the services that the
Executive provided to the Company or any of its Affiliates at any time during the Executive’s employment with the Company or, with respect to the portion of the Non-Competition Period that follows the
termination of the Executive’s employment, during the last two (2) years of the Executive’s employment with the Company, in any geographic area where the Company or any of its Affiliates conducts or is actively planning to conduct
business any time during the Executive’s employment with the Company or, with respect to the portion of the Non-Competition Period that follows termination of the Executive’s employment, in any
geographic 

  
 5 

 
area in which the Executive at any time within the last two (2) years of the Executive’s employment with the Company provided services or had a material presence or influence;
provided, however, that Executive shall not be restricted from engaging in any business activity approved pursuant to Section 1(a) or 1(b) above. 

(ii) While the Executive is employed by the Company and during the twenty-four (24)-month period immediately following termination of his
employment for any reason (in the aggregate, the “Non-Solicitation Period”), the Executive will not, directly or indirectly, solicit or encourage, or otherwise take any action that causes or
is likely to cause, any customer, vendor, supplier, or other business partner of the Company or any of its Affiliates to terminate or diminish his, her or its relationship with it; provided, however, that this restriction shall apply
(y) only with respect to those Persons who are or have been a business partner of the Company or any of its Affiliates at any time within the twelve (12)-month period immediately preceding the activity restricted by this Section 3(d)(ii)
or whose business has been solicited on behalf of the Company or any of its Affiliates by any of their officers, employees, or agents within such twelve (12)-month period, other than by form letter, blanket mailing or published advertisement, and
(z) only if the Executive has performed work for such Person during his employment with the Company or any of its Affiliates, or otherwise had material business contact with, such Person as a result of his employment or other associations with
the Company or one of its Affiliates or has received or reviewed Confidential Information which would assist in his solicitation of such Person. 

(iii) During the Non-Solicitation Period, the Executive will not, directly or indirectly,
(a) hire or engage, or solicit for hiring or engagement, any employee of the Company or any of its Affiliates or seek to persuade any such employee to discontinue employment or (b) solicit or encourage any independent contractor providing
services to the Company or any of its Affiliates to terminate or diminish his, her or its relationship with any of them. For the purposes of this Section 3(d)(iii), an “employee” or an “independent contractor”
of the Company or any of its Affiliates is any Person who was such at any time during the twelve (12)-month period immediately preceding the activity restricted by this Section 3(d)(iii). 

(e) In signing this Agreement, the Executive gives the Company assurance that the Executive has carefully read and considered all the terms and
conditions of this Agreement, including the restraints imposed on the Executive under this Section 3. The Executive agrees without reservation that these restraints are necessary for the reasonable and proper protection of the Company and its
Affiliates, and that each and every one of the restraints is reasonable in respect to subject matter, length of time and geographic area. The Executive further agrees that, were the Executive to breach any of the covenants contained in this
Section 3, the damage to the Company and its Affiliates would be irreparable. The Executive therefore agrees that the Company, in addition and not in the alternative to any other remedies available to it, shall be entitled to preliminary and
permanent injunctive relief against any breach or threatened breach by the Executive of any such covenants, without having to post bond. In any action with respect to the enforcement of the covenants contained in this Section 3, the prevailing
party shall be entitled to an award of its reasonable attorneys’ fees incurred in connection with such action. The Executive further agrees that the Non-Solicitation Period shall be tolled, and shall not
run, during the period of any breach by the Executive of any of the covenants contained 

  
 6 

 in Sections 3(d)(ii) and 3(d)(iii), and that, if Executive violates any fiduciary duty to the Company or
unlawfully takes any Confidential Information or other property belonging to the Company, the Non-Competition Period will extend by the time during which the Executive engages in such violation(s), for up to a
total of two (2) years following the termination of the Executive’s employment. The Executive and the Company further agree that, in the event that any provision of this Section 3 is determined by any court of competent jurisdiction
to be unenforceable by reason of its being extended over too great a time, too large a geographic area or too great a range of activities, that provision shall be deemed to be modified to permit its enforcement to the maximum extent permitted by
law. It is also agreed that each of the Company’s Affiliates shall have the right to enforce all of the Executive’s obligations to that Affiliate under this Agreement, including without limitation pursuant to this Section 3. No
claimed breach of this Agreement or other violation of law attributed to the Company or any of its Affiliates, or change in the nature or scope of the Executive’s employment or other relationship with the Company or any of its Affiliates, shall
operate to excuse the Executive from the performance of his obligations under this Section 3. 
 4. Termination of Employment.
The Executive’s employment under this Agreement shall continue until terminated pursuant to this Section 4. 
 (a) By
the Company For Cause. The Company may terminate the Executive’s employment for Cause provided that (i) the Company provides written notice to the Executive setting forth in reasonable detail the nature of the Cause within sixty
(60) days of the Board’s knowledge of facts giving rise to a termination for Cause, (ii) if susceptible to cure, the Company provides the Executive with a period of thirty (30) days following such notice to cure such condition
and the condition remains uncured by the Executive at the conclusion of such thirty (30)-day period and (iii) the Executive has an opportunity to be heard by the Board (which opportunity may occur by
telephone or videoconference if the parties are not available for an in-person meeting) prior to any final determination of Cause. For purposes of this Agreement, “Cause” shall mean the
occurrence of any of the following: (i) the Executive’s failure to comply with a written material directive of the Board or gross negligence in the performance of the Executive’s material duties and responsibilities to the Company or
any of its Affiliates; (ii) the Executive’s material breach of this Agreement, the Stockholders Agreement, the Award, any other individual award agreement pursuant to which an Equity Award is granted to the Executive or any other agreement
that the Executive and the Company agree in writing constitutes an agreement covered by this subsection (collectively, the “Covered Agreements”); (iii) the Executive’s commission of, or plea of nolo contendere to, a felony or
other crime involving moral turpitude; or (iv) other willful misconduct by the Executive that is or would reasonably be expected to be materially harmful to the business interests or reputation of the Company or any of its Affiliates; and/or,
solely for purposes of Section 3(d)(i) of this Agreement, (v) (A) the Executive’s performance (or nonperformance) of his duties and responsibilities to the Company or any of its Affiliates in a manner deemed by the Company to be in
any way unsatisfactory, (B) the Executive’s breach of this Agreement or any other agreement between the Executive and the Company or any of its Affiliates; or (C) the Executive’s violation of or disregard for any rule or
procedure or policy of the Company or any of its Affiliates, or any other reasonable basis for Company dissatisfaction with the Executive, including for reasons such as lack of capacity or diligence, failure to conform to usual standards of conduct,
or other culpable or inappropriate behavior. 

  
 7 

 (b) By the Company Without Cause. The Company may terminate the Executive’s
employment at any time other than for Cause upon thirty (30) days’ written notice to the Executive (during which period (or any portion thereof) the Executive may be placed on paid administrative leave); provided, however,
that any Severance Payments or Liquidity Event Payment shall be reduced by the amount of any Base Salary, Living Expenses and Taxes paid to the Executive (but not including any Living Expenses or Taxes that are repaid by the Executive pursuant to
the last sentence of Section 2(g) above) with respect to the period of employment with the Company following the date such written notice is delivered to the Executive. 

(c) By the Executive for Good Reason. The Executive may terminate his employment for Good Reason, provided that (i) the Executive
provides written notice to the Company, setting forth in reasonable detail the nature of the condition giving rise to Good Reason within sixty (60) days of the Executive’s knowledge of such condition, (ii) the condition remains
uncured by the Company for a period of thirty (30) days following such notice and (iii) the Executive terminates his employment, if at all, not later than thirty (30) days after the expiration of such cure period. For purposes of this
Agreement, “Good Reason” shall mean the occurrence of any of the following without the Executive’s consent: (A) the Company’s relocation of the Executive’s primary place of work by more than fifty
(50) miles, (B) a material diminution in the Executive’s duties, responsibilities, or authority, (C) the Company’s material breach of any Covered Agreement, or (D) a material diminution in the Executive’s Base Salary
except for across-the-board salary reductions based on the Company’s financial performance similarly affecting all or substantially all senior management employees
of the Company. 
 (d) By the Executive without Good Reason. The Executive may terminate his employment at any time without Good
Reason upon sixty (60) days’ written notice to the Company. The Board may elect to waive such notice period or any portion thereof. 

(e) Death and Disability. The Executive’s employment hereunder shall automatically terminate in the event of the Executive’s
death during employment. The Company may terminate the Executive’s employment, upon notice to the Executive, in the event that the Executive becomes disabled during his employment hereunder through any illness, injury, accident or condition of
either a physical or psychological nature and, as a result, is unable to perform substantially all of his duties and responsibilities hereunder (notwithstanding the provision of any reasonable accommodation) for a period of ninety
(90) consecutive days during any period of three hundred sixty-five (365) consecutive days. If any question shall arise as to whether the Executive is disabled to the extent that he is unable to perform substantially all of his duties and
responsibilities for the Company and its Affiliates, the Executive shall, at the Company’s request, submit to a medical examination by a physician selected by the Company to whom the Executive or the Executive’s guardian, if any, has no
reasonable objection to determine whether the Executive is so disabled, and such determination shall for purposes of this Agreement be conclusive of the issue. If such a question arises and the Executive fails to submit to the requested medical
examination, the Company’s good faith, reasonable determination of the issue shall be binding on the Executive. 

  
 8 

 5. Other Matters Related to Termination. 

(a) Final Compensation. In the event of termination of the Executive’s employment with the Company, howsoever occurring, the
Company shall pay the Executive (i) the Base Salary for the final payroll period of his employment, through the date his employment terminates; (ii) compensation at the rate of the Base Salary for any vacation time earned but not used as
of the date his employment terminates; (iii) the Annual Bonus with respect to the year prior to the year of termination to the extent not yet paid, payable in accordance with Section 2(b); and (iv) reimbursement, in accordance with
Section 2(f) or 2(g) hereof, for business expenses or Living Expenses incurred by the Executive but not yet paid to the Executive as of the date his employment terminates, provided that the Executive submits all expenses and supporting
documentation required within sixty (60) days of the date his employment terminates, and provided further that such expenses are reimbursable under this Agreement or Company policies then in effect (all of the foregoing, “Final
Compensation”). Except as otherwise provided in Sections 5(a)(iii) and (iv), Final Compensation will be paid to the Executive within thirty (30) days following the date of termination or such shorter period required by law. 

(b) Severance Payments. In the event of any termination of the Executive’s employment pursuant to Sections 4(a)(v) (and, for the
avoidance of doubt, for reasons that would not constitute Cause pursuant to Sections 4(a)(i)-(iv)), 4(b), or 4(c) above, the Company will pay the Executive or otherwise provide, in addition to Final Compensation: 

(i) the Base Salary for a period of two (2) years following the date of termination (the “Severance Payments,” and such
period, the “Severance Period”); 
 (ii) one (1) times the Target Bonus,
pro-rated for the number of days during the year in which the Executive’s employment terminates that the Executive was employed by the Company (based upon a 365 day year); 

(iii) the number of shares of Stock subject to the Options, unless earlier terminated or forfeited (other than in connection with such
termination of employment) in accordance with the Award or the applicable equity incentive plan and to the extent not otherwise vested, that would have vested during the twelve (12)-month period following the Executive’s termination date had
the Executive remained in continuous employment with the Company during such period will become vested as of the Executive’s termination date, with the number of shares of Stock subject to the Options that are then eligible to vest equal to the
Available Vesting Amount (as defined in Schedule A to the Award) immediately prior to such termination of employment; 
 (iv) with respect
to each Equity Award other than the Options, the number of shares of Stock subject to such Equity Award, unless earlier terminated or forfeited (other than in connection with such termination of employment) in accordance with the applicable
individual award agreement and equity incentive plan governing such Equity Award and to the extent not otherwise vested, that would have vested during the twelve (12)-month period following the Executive’s termination date had the Executive
remained in continuous employment with the Company during such period will become vested as of the Executive’s termination date, with the number of shares of Stock subject to the Equity Award that are then eligible to vest equal to the total
number of shares of Stock subject to the Equity Award that have vested or are available to vest under the terms of such Equity Award immediately prior to such termination of employment; and 

  
 9 

 (v) in the event the Executive timely elects to continue the Executive’s coverage and,
if applicable, that of the Executive’s eligible dependents in the Company’s group health plans under the federal law known as “COBRA” or similar state law (together, “COBRA”), the Company shall pay the Executive
a monthly amount equal to the monthly COBRA health premiums required to maintain such coverages until the earlier of (A) the conclusion of the Severance Period and (B) the date that the Executive and, if applicable, the Executive’s
eligible dependents cease to be eligible for such COBRA coverage under applicable law or plan terms (the “Health Continuation Benefits”). 

(c) Conditions To And Timing Of Severance Payments. Any obligation of (i) the Company to provide the Executive the Severance
Payments and Health Continuation Benefits and/or (ii) Parent to provide the accelerated vesting of Equity Awards described in Section 5(b)(iii) above is, in each case, conditioned on his signing and returning, without revoking, to the
Company a timely and effective separation agreement containing a general release of claims and other customary terms, including a reaffirmation of the Executive’s post-employment restrictive covenants and/or, in the Company’s sole
discretion, post-employment restrictive covenants substantially similar to those found in this Agreement, in the form provided to the Executive by the Company at the time that the Executive’s employment terminates (the “Separation
Agreement”). The Separation Agreement must become effective, if at all, by the sixtieth (60th) calendar day following the date the Executive’s employment terminates. Any Severance Payments and Health Continuation Benefits to which the
Executive is entitled will be payable in the form of salary continuation in accordance with the normal payroll practices of the Company. The first such payment, together with the pro-rated Target Bonus
described under Section 5(b)(ii) above, will be made on the Company’s next regular payday following the expiration of sixty (60) calendar days from the date that the Executive’s employment terminates, but will be retroactive to
the day following such date of termination. Notwithstanding the foregoing, in the event that the Company’s payment of the Health Continuation Benefits would subject the Company to any tax or penalty under Section 105(h) of the Internal
Revenue Code, as amended (the “Code”), the Patient Protection and Affordable Care Act, as amended, any regulations or guidance issued thereunder, or any other applicable law, in each case, as reasonably determined by the Company,
the Executive and the Company shall work together in good faith to restructure such benefit. 
 (d) Compensation Upon Termination within
the Liquidity Event Period. The provisions of this Section 5(d) shall apply in lieu of, and expressly supersede, the provisions of Section 5(b) upon a termination of the Executive’s employment pursuant to Sections 4(a)(v) (and,
for the avoidance of doubt, for reasons that would not constitute Cause pursuant to Sections 4(a)(i)-(iv)), 4(b), or 4(c) above, if such termination of employment occurs within twelve (12) months after the occurrence of the first event
constituting a Liquidity Event (such period, the “Liquidity Event Period”). 

  
 10 

 (i) Liquidity Event. If during the Liquidity Event Period the Executive’s
employment is terminated pursuant to Sections 4(a)(v) (and, for the avoidance of doubt, for reasons that would not constitute Cause pursuant to Sections 4(a)(i)-(iv)), 4(b), or 4(c) above, then, subject to the signing of the Separation Agreement by
the Executive and the Separation Agreement becoming irrevocable, all within sixty (60) days after the date of termination (or such shorter period as set forth in the Separation Agreement): 

(1) the Company shall pay the Executive a lump sum in cash in an amount equal to the sum of (A) twenty-four (24) months of the
Executive’s current Base Salary (or the Executive’s Base Salary in effect immediately prior to the Liquidity Event, if higher) plus (B) two (2) times the Executive’s Target Bonus (the “Liquidity Event Payment”);
and 
 (2) in the event the Executive timely elects to continue the Executive’s coverage and, if applicable, that of the
Executive’s eligible dependents in the Company’s group health plans under COBRA, the Company shall pay the Executive a monthly amount equal to the monthly COBRA health premiums required to maintain such coverages until the earlier of
(A) eighteen (18) months following the date of termination and (B) the date that the Executive and, if applicable, the Executive’s eligible dependents cease to be eligible for such COBRA coverage under applicable law or plan. 

The amounts payable under this Section 5(d) shall be paid (in the case of subsection (1)) or commence to be paid (in the case of subsection (2)), if at
all, within sixty (60) days after the date of termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, to the extent the
amounts payable under this Section 5(d) constitute “non-qualified deferred compensation” within the meaning of Section 409A of the Code such payments shall be paid or commence to be paid in
the second calendar year by the last day of such 60-day period; provided, further, that the initial payment shall include a catch-up payment to cover
amounts retroactive to the day immediately following the date of termination. 
 (e) Benefits Termination. Except for any right the
Executive may have under COBRA or other applicable law to continue participation in the Company’s group health and dental plans at his cost and except as expressly provided in Section 5(b)(iv) or Section 5(d)(i)(2) of this Agreement
(as applicable), the Executive’s participation in all employee benefit plans shall terminate in accordance with the terms of the applicable benefit plans based on the date of termination of his employment, without regard to any continuation of
the Base Salary or other payment to the Executive following termination of his employment, and the Executive shall not be eligible to earn vacation or other paid time off following the termination of his employment. 

(f) Survival. Provisions of this Agreement shall survive any termination of employment if so provided in this Agreement or if necessary
or desirable to accomplish the purposes of other surviving provisions, including without limitation the Executive’s obligations under Section 3 of this Agreement. The obligation of the Company to make payments to the Executive under
Section 5(b) or Section 5(d) (as applicable), and the Executive’s right to retain the same, are expressly conditioned upon his continued full performance of his obligations under Section 3 of this Agreement. Upon termination by
either the Executive or the Company, all rights, duties and obligations of the Executive and the Company to each other shall cease, except as otherwise expressly provided in this Agreement. 

  
 11 

 6. Timing of Payments and Section 409A.  

(a) Notwithstanding anything to the contrary in this Agreement, if at the time the Executive’s employment terminates, the Executive is a
“specified employee,” as defined below, any and all amounts payable under this Agreement on account of such separation from service that would (but for this provision) be payable within six (6) months following the date of
termination, shall instead be paid on the next business day following the expiration of such six (6)-month period or, if earlier, upon the Executive’s death; except (A) to the extent of amounts that do not constitute a deferral of
compensation within the meaning of Treasury regulation Section 1.409A-1(b) (including without limitation by reason of the safe harbor set forth in
Section 1.409A-1(b)(9)(iii), as determined by the Company in its reasonable good faith discretion); (B) benefits which qualify as excepted welfare benefits pursuant to Treasury regulation Section 1.409A-1(a)(5); or (C) other amounts or benefits that are not subject to the requirements of Section 409A of the Code, as amended (“Section 409A”). 

(b) For purposes of this Agreement, to the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under Section 409A, and to the extent that such payment or benefit is payable upon the Executive’s termination of employment, all references to
“termination of employment” and correlative phrases shall be construed to require a “separation from service” (as defined in Section 1.409A-1(h) of the Treasury regulations after
giving effect to the presumptions contained therein), and the term “specified employee” means an individual determined by the Company to be a specified employee under Treasury regulation
Section 1.409A-1(i). 
 (c) Each payment made under this Agreement shall be treated as a
separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2) and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate
payments. 
 (d) The parties intend that this Agreement will be administered in accordance with Section 409A. To the extent that any
provision of this Agreement is ambiguous as to its compliance with Section 409A, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A. In no event shall the Company have any liability
relating to the failure or alleged failure of any payment or benefit under this Agreement to comply with, or be exempt from, the requirements of Section 409A. 

7. Definitions. For purposes of this Agreement, the following definitions apply: 

“Affiliates” means all persons and entities directly or indirectly controlled by or under common control with Parent, where
control may be by management authority, equity interest or otherwise; provided, however, that Affiliates does not include (i) any portfolio company of any investment fund associated with Bain Capital Private Equity, L.P. or
(ii) Pfizer Inc. or any of its affiliates, in each case, other than Parent (and/or any future direct or indirect holding company of the Company) and its direct and indirect subsidiaries. 

  
 12 

 “Confidential Information” means any and all information of the Company and
its Affiliates that is not generally available to the public. Confidential Information also includes any information received by the Company or any of its Affiliates from any Person with any understanding, express or implied, that it will not be
disclosed. Confidential Information does not include information that enters the public domain, other than through the Executive’s breach of his obligations under this Agreement or any other agreement between the Executive and the Company or
any of its Affiliates. 
 “Intellectual Property” means inventions, discoveries, developments, methods, processes,
compositions, works, concepts and ideas (whether or not patentable or copyrightable or constituting trade secrets) conceived, made, created, developed or reduced to practice by the Executive (whether alone or with others, whether or not during
normal business hours or on or off Company premises) during the Executive’s employment that relate either to the business of the Company or any of its Affiliates or to any Planned Program or that result from any work performed by the Executive
for the Company or any of its Affiliates or that make use of Confidential Information or any of the equipment or facilities of the Company or any of its Affiliates. 

“Liquidity Event” has the meaning given to it in the Stockholders’ Agreement. Notwithstanding the foregoing, (i) a
Liquidity Event shall also include a replacement of a majority of the members of the Board during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of
the Board before the date of the appointment or election and (ii) no event, transaction or series of transactions shall constitute a Liquidity Event unless such event, transaction or series of transactions constitutes a “change in control
event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5)(i). 

“Person” means an individual, a corporation, a limited liability company, an association, a partnership, an estate, a trust
or any other entity or organization, other than the Company or any of its Affiliates. 
 8. Conflicting Agreements. The Executive
hereby represents and warrants that his signing of this Agreement and the performance of his obligations under it will not breach or be in conflict with any other agreement to which the Executive is a party or is bound, and that the Executive
is not now subject to any covenants against competition or similar covenants or any court order that could affect the performance of his obligations under this Agreement. The Executive agrees that the Executive will not disclose to or use on behalf
of the Company any confidential or proprietary information of a third party without that party’s consent. 
 9. Withholding. All
payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company to the extent required by applicable law. 

10. Assignment. Neither the Executive nor the Company may make any assignment of this Agreement or any interest in it, by
operation of law or otherwise, without the prior written consent of the other; provided, however, the Company may assign its rights and obligations under this Agreement without the Executive’s consent to one of its Affiliates or
to any Person with whom the Company shall hereafter effect a reorganization, consolidate or merge, or to whom the Company shall hereafter transfer all or substantially all of its properties or assets. This Agreement shall inure to the benefit of and
be binding upon the Executive and the Company, and each of their respective successors, executors, administrators, heirs and permitted assigns. 

  
 13 

 11. Severability. If any portion or provision of this Agreement shall to any extent
be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or
unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 

12. Miscellaneous. This Agreement sets forth the entire agreement between the Executive and the Company, and replaces all prior
and contemporaneous communications, agreements and understandings, written or oral, with respect to the terms and conditions of the Executive’s employment, other than with respect to the award agreement and the equity plan governing the
Options. This Agreement may not be modified or amended, and no breach shall be deemed to be waived, unless agreed to in writing by the Executive and an expressly authorized representative of the Board. The headings and captions in this Agreement are
for convenience only and in no way define or describe the scope or content of any provision of this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute
one and the same instrument. This is a Massachusetts contract and shall be governed and construed in accordance with the laws of the Commonwealth of Massachusetts, without regard to any conflict of laws principles that would result in the
application of the laws of any other jurisdiction. 
 13. Notices. Any notices provided for in this Agreement shall be in writing and
shall be effective when delivered in person or deposited in the United States mail, postage prepaid, and addressed to the Executive at his last known address on the books of the Company or, in the case of the Company, to it at its principal
place of business, attention of the Chairman of the Board, or to such other address as either party may specify by notice to the other actually received. 

14. Stockholders Agreement Provisions. Notwithstanding anything to the contrary in the Stockholders Agreement, (i) the
consent of the Executive will be required for any amendment or termination of Section 2.1(d) of the Stockholders Agreement, (ii) Section 5.1.1(a) of the Stockholders Agreement shall not apply to any vested shares of stock of Parent
(“Stock”) held by the Executive or his permitted transferee, (iii) Section 5.1.1(c) of the Stockholders Agreement shall only apply to (x) any vested shares of Stock held by the Executive or his permitted transferee in
the event the Executive breaches Section 3(d)(i) of this Agreement and (y) any shares of Stock that become vested solely due to the Executive’s cessation of employment pursuant to Section 5(b)(iii) or (iv) above in the event the
Executive breaches Section 3(d)(iii) of this Agreement; provided, however, that all references to “Bad Leaver Price” in such Section 5.1.1(c) shall be replaced with “Fair Market Value of the Callable Management
Shares being sold”; and (iv) with respect to any vested shares of Stock of Parent held by the Executive or his permitted transferee, clause (x) of Section 3.8 of the Stockholders Agreement shall be modified to read as follows
with respect to one half (1/2) of such shares of Stock: “(x) in the case of any Stockholder other than the Lead Investors, such Stockholder may only Transfer 

  
 14 

 to the extent such Transfer would not result in the Relative Ownership Percentage of such Stockholder
immediately following such Transfer being less than the Relative Ownership Percentage of the Bain Investor immediately following such Transfer and (y) if, due to this Agreement, the Registration Rights Agreement or any other agreement, any
Stockholders are deemed to be acting in concert for purposes of Rule 144 during any volume limit measurement period thereunder, such Stockholders will not be permitted to Transfer pursuant to Rule 144 during such measurement period more than their
pro rata portion (determined, as of the commencement of such measurement period, as the percentage equal to (1) such Stockholder’s aggregate number of Shares divided by (2) the applicable Stockholders’ aggregate number of Shares)
of the aggregate number of Shares that may be Transferred by such Stockholders within the constraints of such volume limit during such measurement period; provided, however, that the foregoing provisions of this clause (x) shall only apply
until the third anniversary of the Initial Public Offering and, following such date, the Stockholder may Transfer such Stockholder’s Shares upon written notice to the Board at least five (5) business days prior to such Transfer or at any
time in accordance with a Rule 10b5-1 plan.” and, with respect to the remaining one half (1/2) of the shares of Stock, the Executive shall be subject to a customary
lock-up on the same terms as apply to the Bain Investor (as defined in the Stockholders Agreement) and clause (x) of Section 3.8 of the Stockholders Agreement shall not apply to such shares of Stock.

  
 15 

 The Executive acknowledges that the Company provided him with this Agreement by the earlier
of (i) the date of a formal offer of employment from the Company or (ii) ten (10) business days before the Effective Date. The Executive acknowledges that he has been and is hereby advised of his right to consult an attorney before signing this
Agreement. 
 IN WITNESS WHEREOF, this Agreement has been executed by the Company, by its duly authorized representative, and by the
Executive, as of the date first above written. 
  

									
	THE EXECUTIVE:	  	                	  	THE COMPANY:	  	                    
					
	 /s/ N. Anthony Coles, Jr.
	  		  	By:	  	 /s/ Orly Mishan
	  	
	Dr. N. Anthony Coles, Jr.	  		  		  	 Name: Orly Mishan
 Title: Vice
President
	  	
				
		  		  	Acknowledged and Agreed by:	  	
				
		  		  	PARENT:	  	
					
		  		  	By:	  	 /s/ Orly Mishan
	  	
		  		  		  	Name: Orly Mishan	  	
		  		  		  	Title: Vice President	  	

  
 16 

 [LETTERHEAD] 

March 30. 2019 
 Dr. N. Anthony Coles. Jr. 

Dear Tony: 
 This letter (the
“Amendment’) amends the Employment Agreement between you and Cerevel Therapeutics. LLC (the “Company”), dated November 23, 2018 (the “Employment Agreement”) and the Non-Statutory Stock Option
Agreement between you and Cerevel Therapeutics. Inc. (“Parent”) dated December 20, 2018 (the “Option Agreement”). This Amendment shall be effective as of March 30, 2019. 

In consideration of your continued employment with the Company, the compensation, mutual promises and terms and conditions set forth below,
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, you the Company, and Parent hereby agree to amend the Employment Agreement and the Option Agreement as follows: 

 

	 	1.	 In the first sentence of Section 1(a) of the Employment Agreement, the reference to “March 31, 2019”
shall be deleted and replaced with a reference to “April 16, 2019”. 

  

	 	2.	 In Section 1 of Schedule A to the Option Agreement, each reference to “March 31, 2019” shall be
deleted and replaced with a reference to “April 16, 2019”. 

 Except as expressly modified herein, the
Employment Agreement and the Option Agreement, and all of their terms and provisions, shall remain in full force and effect. This Amendment embodies the entire agreement between the parties with respect to amending the Employment Agreement and the
Option Agreement and supersedes all prior communications, agreements and understandings, whether written or oral, with respect to the same. This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original,
but all of which taken together shall constitute one and the same instrument. This Agreement may be executed by facsimile, .pdf or similar electronic signature and a facsimile, .pdf or similar electronic signature shall constitute an original for
all purposes. This Amendment may be amended or modified only by a written instrument signed by the Executive and by expressly authorized representatives of the Company and Parent. This Amendment shall be governed by and construed in accordance with
the laws of the state of Massachusetts, without regard to any conflict of laws principles that would result in the application of the laws of any other jurisdiction. 

[Remainder of page intentionally left blank] 

 Please acknowledge your agreement with the terms and conditions of this Amendment by signing
and returning the enclosed copy of this Amendment to the undersigned, whereupon this Amendment will become a binding agreement between us. 
  

			
	Sincerely yours,
	
	CEREVEL THERAPEUTICS, LLC
		
	By:	 	 /s/ Orly Mishan

	Name:	 	Orly Mishan
	Title:	 	Vice President
	
	CEREVEL THERAPEUTICS, INC.
		
	By:	 	 /s/ Orly Mishan

	Name:	 	Orly Mishan
	Title:	 	 Vice President

 

			
	Accepted and Agreed:
	
	 /s/ Dr. N. Anthony Coles, Jr.

	Dr. N. Anthony Coles, Jr.
		
	Date:	 	3/31/19

  
 -2- 

 

 
 April 15, 2019 
 N.
Anthony Coles, MD 
 Dear Tony: 
 This letter
(the “Amendment”) amends the Employment Agreement between you and Cerevel Therapeutics, LLC (the “Company”), dated November 23, 2018, as amended by that certain Letter Agreement, dated March 30, 2019 (the
“Employment Agreement”), and the Non-Statutory Stock Option Agreement between you and Cerevel Therapeutics, Inc. (“Parent”), dated December 20, 2018, as amended by that
certain Letter Agreement, dated March 30, 2019 (the “Option Agreement”). This Amendment shall be effective as of 4/15/2019. 
 In
consideration of your continued employment with the Company, the compensation, mutual promises and terms and conditions set forth below, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, you,
the Company, and Parent hereby agree to amend the Employment Agreement and the Option Agreement as follows: 
 1. In the first sentence of Section 1(a)
of the Employment Agreement, as amended, the reference to “April 16, 2019” shall be deleted and replaced with a reference to “May 20, 2019”. 

2. In Section 1 of Schedule A to the Option Agreement, as amended, each reference to “April 16, 2019” shall be deleted and replaced with a
reference to “May 20, 2019”. 
 Except as expressly modified herein, the Employment Agreement and the Option Agreement, and all of their terms and
provisions, shall remain in full force and effect. This Amendment embodies the entire agreement between the parties with respect to amending the Employment Agreement and the Option Agreement and supersedes all prior communications, agreements and
understandings, whether written or oral, with respect to the same. This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same
instrument. This Agreement may be executed by facsimile, .pdf or similar electronic signature and a facsimile, .pdf or similar electronic signature shall constitute an original for all purposes. This Amendment may be amended or modified only by a
written instrument signed by the Executive and by expressly authorized representatives of the Company and Parent. This Amendment shall be governed by and construed in accordance with the laws of the state of Massachusetts, without regard to any
conflict of laws principles that would result in the application of the laws of any other jurisdiction. 
 [Remainder of page intentionally
left blank] 
  

	
	Cerevel Therapeutics, LLC    • 500 Boylston Street, Suite 1860    • Boston, Massachusetts 02116    • cerevel.com

 Please acknowledge your agreement with the terms and conditions of this Amendment by signing
and returning the enclosed copy of this Amendment to the undersigned, whereupon this Amendment will become a binding agreement between us. 
  

			
	Sincerely yours,
	
	CEREVEL THERAPEUTICS, LLC
		
	By:	 	 /s/ Orly Mishan

	Name:	 	Orly Mishan
	Title:	 	Vice President
	
	CEREVEL THERAPEUTICS, INC.
		
	By:	 	 /s/ Orly Mishan

	Name:	 	Orly Mishan
	Title:	 	Vice President

  

			
	Accepted and Agreed:
	
	 /s/ Dr. N. Anthony Coles, Jr.

	Dr. N. Anthony Coles, Jr.
		
	Date:	 	4/11/19

  

	
	Cerevel Therapeutics, LLC    • 500 Boylston Street, Suite 1860    • Boston, Massachusetts 02116    • cerevel.com

  
 -2- 

 [LETTERHEAD] 

May 20, 2019 
 Dr. N. Anthony Coles, Jr. 

Dear Tony: 
 This letter (the
“Amendment”) amends (i) the Employment Agreement between you and Cerevel Therapeutics, LLC (the “Company”), dated November 23, 2018, as amended by that certain Letter Agreement, dated March 30, 2019,
and that certain Letter Agreement, dated April 15, 2019 (the “Employment Agreement”), and (ii) the Non-Statutory Stock Option Agreement between you and Cerevel Therapeutics, Inc.
(“Parent”), dated December 20, 2018, as amended by that certain Letter Agreement, dated March 30, 2019, and that certain Letter Agreement, dated April 15, 2019 (the “Option Agreement”). This Amendment
shall be effective as of May 20, 2019. 
 In consideration of your continued employment with the Company, the compensation, mutual
promises and terms and conditions set forth below, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, you, the Company, and Parent hereby agree to amend the Employment Agreement and the Option
Agreement as follows: 
  

	 	1.	 In the first sentence of Section 1(a) of the Employment Agreement, as amended, the reference to “May
20, 2019” shall be deleted and replaced with a reference to “June 30, 2019”. 

  

	 	2.	 In Section 1 of Schedule A to the Option Agreement, as amended, each reference to “May 20, 2019”
shall be deleted and replaced with a reference to “June 30, 2019”. 

 Except as expressly modified herein, the
Employment Agreement and the Option Agreement, and all of their terms and provisions, shall remain in full force and effect. This Amendment embodies the entire agreement between the parties with respect to amending the Employment Agreement and the
Option Agreement and supersedes all prior communications, agreements and understandings, whether written or oral, with respect to the same. This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original,
but all of which taken together shall constitute one and the same instrument. This Agreement may be executed by facsimile, .pdf or similar electronic signature and a facsimile, .pdf or similar electronic signature shall constitute an original for
all purposes. This Amendment may be amended or modified only by a written instrument signed by the Executive and by expressly authorized representatives of the Company and Parent. This Amendment shall be governed by and construed in accordance with
the laws of the state of Massachusetts, without regard to any conflict of laws principles that would result in the application of the laws of any other jurisdiction. 

[Remainder of page intentionally left blank] 

 Please acknowledge your agreement with the terms and conditions of this Amendment by signing
and returning the enclosed copy of this Amendment to the undersigned, whereupon this Amendment will become a binding agreement between us. 
  

			
	Sincerely yours,
	
	CEREVEL THERAPEUTICS, LLC
		
	By:	 	 /s/ Orly Mishan

	Name:	 	Orly Mishan
	Title:	 	
	
	CEREVEL THERAPEUTICS, INC.
		
	By:	 	 /s/ Orly Mishan

	Name:	 	Orly Mishan
	Title:	 	

  

			
	Accepted and Agreed:
	
	 /s/ Dr. N. Anthony Coles, Jr.

	Dr. N. Anthony Coles, Jr.
		
	Date:	 	  

  
 -2- 

 [LETTERHEAD] 

June 27, 2019 
 Dr. N. Anthony Coles, Jr. 

Dear Tony: 
 This letter (the
“Amendment”) amends (i) the Employment Agreement between you and Cerevel Therapeutics, LLC (the “Company”), dated November 23, 2018, as amended by that certain Letter Agreement dated March 30, 2019,
that certain Letter Agreement dated April 15, 2019, and that certain Letter Agreement dated May 20, 2019 (the “Employment Agreement”), and (ii) the Non-Statutory Stock Option
Agreement between you and Cerevel Therapeutics, Inc. (“Parent”), dated December 20, 2018, as amended by that certain Letter Agreement dated March 30, 2019, that certain Letter Agreement dated April 15, 2019, and that
certain Letter Agreement dated May 20, 2019 (the “Option Agreement”). This Amendment shall be effective as of June 27, 2019. 

In consideration of your continued employment with the Company, the compensation, mutual promises and terms and conditions set forth below,
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, you, the Company, and Parent hereby agree to amend the Employment Agreement and the Option Agreement as follows: 

 

	 	1.	 In the first sentence of Section 1(a) of the Employment Agreement, as amended, the reference to “June
30, 2019” shall be deleted and replaced with a reference to “July 30, 2019 or, if as of July 30, 2019 the Board (as defined below) has not objected to such later date in writing to you, September 4, 2019”.

  

	 	2.	 In Section 1 of Schedule A to the Option Agreement, as amended, each reference to “June 30,
2019” shall be deleted and replaced with a reference to “July 30, 2019 or, if as of July 30, 2019 the Company (through its board of directors) has not objected to such later date in writing to you, September 4, 2019”.

 Except as expressly modified herein, the Employment Agreement and the Option Agreement, and all of their terms and
provisions, shall remain in full force and effect. This Amendment embodies the entire agreement between the parties with respect to amending the Employment Agreement and the Option Agreement and supersedes all prior communications, agreements and
understandings, whether written or oral, with respect to the same. This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same
instrument. This Agreement may be executed by facsimile, .pdf or similar electronic signature and a facsimile, .pdf or similar electronic signature shall constitute an original for all purposes. This Amendment may be amended or modified only by a
written instrument signed by the Executive and by expressly authorized representatives of the Company and Parent. This Amendment shall be governed by and construed in accordance with the laws of the state of Massachusetts, without regard to any
conflict of laws principles that would result in the application of the laws of any other jurisdiction. 
 [Remainder of page intentionally
left blank] 

 Please acknowledge your agreement with the terms and conditions of this Amendment by signing
and returning the enclosed copy of this Amendment to the undersigned, whereupon this Amendment will become a binding agreement between us. 
  

			
	Sincerely yours,
	
	CEREVEL THERAPEUTICS, LLC
		
	By:	 	 /s/ Orly Mishan

	Name:	 	Orly Mishan
	Title:	 	Principal
	
	CEREVEL THERAPEUTICS, INC.
		
	By:	 	 /s/ Orly Mishan

	Name:	 	Orly Mishan
	Title:	 	Principal

  

			
	Accepted and Agreed:
	
	 /s/ Dr. N. Anthony Coles, Jr.

	Dr. N. Anthony Coles, Jr.
		
	Date:	 	6/28/2019

  
 -2- 

 FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT 

This Fifth Amendment (the “Amendment”) to the Employment Agreement between Cerevel Therapeutics, LLC (the
“Company”) and Anthony Coles, Jr. (the “Executive”) dated November 23, 2018, as amended by letters dated, respectively, March 30, 2019, April 15, 2019, May 20, 2019 and June 27, 2019
(collectively, the “Employment Agreement”) shall be effective as of October 27, 2020 (the “Effective Date”). 

1. Unless the context otherwise indicates, capitalized terms not otherwise defined herein shall have the meanings given such terms in the
Employment Agreement.  
 2. From and after the Effective Date, all references to the Employment Agreement shall refer to the
Employment Agreement as amended by this Amendment. 
 3. The Employment Agreement is hereby amended as follows: 

a. by adding the following subsection (3) to Section 5(d)(i): 

(3) In addition, if such a termination (i.e. a termination under Section 4(a)(v), 4(b) or 4(c)) occurs during the Sale Event Period,
notwithstanding anything to the contrary in the Plan or any applicable option agreement or other stock-based award agreement, all time-based stock options and other stock-based awards subject to time-based vesting that, in either case, are granted
to the Executive after the Effective Date (the “Post-Effective Date Time-Based Equity Awards”) shall immediately accelerate and become fully exercisable or nonforfeitable as of the later of (i) the date the Executive’s
employment terminates (the “Date of Termination”) or (ii) the date the Separation Agreement becomes nonrevocable and otherwise fully effective (the date when this occurs is the “Separation Agreement Effective
Date”) (in either case, the “Accelerated Vesting Date”); provided that any termination or forfeiture of the unvested portion of such Post-Effective Date Time-Based Equity Awards that would otherwise occur on the Date of
Termination in the absence of this Amendment will be delayed until the Separation Agreement Effective Date and will only occur if the vesting pursuant to this subsection does not occur due to the absence of the Separation Agreement becoming fully
effective within the time period set forth therein. Notwithstanding the foregoing, no additional vesting of the Post-Effective Date Time-Based Equity Awards shall occur during the period between the Executive’s Date of Termination and the
Accelerated Vesting Date. To avoid doubt, any stock options or other stock-based award granted to the Effective Date prior to the Effective Date (the “Pre-Effective Date Awards”) shall not be
eligible for the Equity Acceleration under this Amendment, provided that, to avoid doubt, nothing in this Amendment shall affect the Executive’s entitlement, as applicable, to accelerated vesting under the Plan and option agreement, or under
Sections 5(b)(iii) or 5(b)(iv) of the Employment Agreement, with respect to the Pre-Effective Date Awards. 

  
 1 

 b. by adding, to Section 5(c), after the words “found in this Agreement,” the
words “(which shall include a post-employment noncompetition obligation)” 
 c. by replacing every reference in the
Employment Agreement to “Liquidity Event” with the term “Sale Event” 
 d. by replacing, in Section 7 of the
Employment Agreement, the defined term “Liquidity Event” with the following text: “Sale Event” shall have the definition contained in the Plan. 

e. by adding to Section 7 the following text: “Plan” shall mean the Cerevel Therapeutics Holdings, Inc.
2020 Equity Incentive Plan, as may be amended from time to time, including any successor plan; 
 f. by adding the following new
Section 15 to the Employment Agreement: 
 15. Section 280G 

Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or distribution by
the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Code and the applicable
regulations thereunder (the “Aggregate Payments”) would be subject to the excise tax imposed by Section 4999 of the Code, then the Aggregate Payments shall be reduced (but not below zero) so that the sum of all of the Aggregate
Payments shall be $1.00 less than the amount at which the Executive becomes subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction shall only occur if it would result in the Executive receiving a higher
After Tax Amount (as defined below) than the Executive would receive if the Aggregate Payments were not subject to such reduction. In such event, the Aggregate Payments shall be reduced in the following order, in each case, in reverse
chronological order beginning with the Aggregate Payments that are to be paid the furthest in time from consummation of the transaction that is subject to Section 280G of the Code: (i) cash payments not subject to Section 409A of
the Code; (ii) cash payments subject to Section 409A of the Code; (iii) equity-based payments and acceleration; and (iv) non-cash forms of benefits; provided that in the case of all the
foregoing Aggregate Payments all amounts or payments that are not subject to calculation under Treas. Reg. § 1.280G-1, Q&A-24(b) or (c) shall be
reduced before any amounts that are 

  
 2 

 
subject to calculation under Treas. Reg. § 1.280G-1, Q&A-24(b) or (c). For purposes of this
Agreement, the “After Tax Amount” means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the
Aggregate Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the
determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of
such state and local taxes. The determination as to whether a reduction in the Aggregate Payments shall be made pursuant to the Agreement shall be made by a nationally recognized accounting firm selected by the Company (the “Accounting
Firm”), which shall provide detailed supporting calculations both to the Company and the Executive within fifteen (15) business days of the termination date, if applicable, or at such earlier time as is reasonably requested by the
Company or the Executive. Any determination by the Accounting Firm shall be binding upon the Company and the Executive. 
 4. Except
as expressly amended herein, the Employment Agreement remains in full effect. 
 5. All prior oral and written communications, commitments,
alleged commitments promises, alleged promises, agreements and alleged agreements by or between the Company and the Executive with respect to the subject matter of this Amendment are hereby merged into this Amendment; shall be of no force or effect;
and shall not be enforceable unless expressly set forth in this Amendment. 
 6. This Amendment may be executed in any number of counterparts
with the same effect as if all parties hereto had signed the same document. All such counterparts shall be construed together and shall constitute one instrument, but in making proof hereof, it shall only be necessary to produce one such
counterpart. A facsimile or electronic copy of this Amendment and any signatures hereon shall be considered for all purposes as an original. 

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement, to be effective on the Effective Date. 

  
 3 

 
	
	N. ANTHONY COLES, JR.
	
	 /s/ N. Anthony Coles, Jr.

	
	CEREVEL THERAPEUTICS, LLC
	
	 /s/ Bryan Phillips

	NAME: Bryan Phillips
	TITLE: Chief Legal Officer

  
 4

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