Document:

EX-10.12

 Exhibit 10.12 

OVID THERAPEUTICS INC. 

2017 EMPLOYEE STOCK PURCHASE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS:
[                    ] 

APPROVED BY THE STOCKHOLDERS:
[                    ] 
  

	1.	GENERAL; PURPOSE. 

 (a) The Plan provides a means by
which Eligible Employees of the Company and certain designated Related Corporations may be given an opportunity to purchase shares of Common Stock. The Plan permits the Company to grant a series of Purchase Rights to Eligible Employees under an
Employee Stock Purchase Plan. 
 (b) The Company, by means of the Plan, seeks to retain the services of such Employees, to secure and
retain the services of new Employees and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Related Corporations. 
  

	2.	ADMINISTRATION. 

 (a) The Board will administer the Plan unless and
until the Board delegates administration of the Plan to a Committee or Committees, as provided in Section 2(c). 
 (b) The Board will
have the power, subject to, and within the limitations of, the express provisions of the Plan: 
 (i) To determine how and when
Purchase Rights will be granted and the provisions of each Offering (which need not be identical). 
 (ii) To designate from time to
time which Related Corporations of the Company will be eligible to participate in the Plan. 
 (iii) To construe and interpret the
Plan and Purchase Rights, and to establish, amend and revoke rules and regulations for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it
deems necessary or expedient to make the Plan fully effective. 
 (iv) To settle all controversies regarding the Plan and Purchase
Rights granted under the Plan. 
 (v) To suspend or terminate the Plan at any time as provided in Section 12. 

(vi) To amend the Plan at any time as provided in Section 12. 

(vii) Generally, to exercise such powers and to perform such acts as it deems necessary or expedient to promote the best interests of
the Company and its Related Corporations and to carry out the intent that the Plan be treated as an Employee Stock Purchase Plan. 

(viii) To adopt such procedures and sub-plans as are necessary or appropriate to permit
participation in the Plan by Employees who are foreign nationals or employed outside the United States. 

  
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 (c) The Board may delegate some or all of the administration of the Plan to a Committee or
Committees. If administration is delegated to a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that have been delegated to the Committee, including the power to
delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board will thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not
inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may retain the authority to concurrently administer the Plan with the Committee and may, at any time, revest in the Board some or all of the
powers previously delegated. Whether or not the Board has delegated administration of the Plan to a Committee, the Board will have the final power to determine all questions of policy and expediency that may arise in the administration of the Plan.

 (d) All determinations, interpretations and constructions made by the Board in good faith will not be subject to review by any
person and will be final, binding and conclusive on all persons. 
  

	3.	SHARES OF COMMON STOCK SUBJECT TO THE PLAN. 

(a) Subject to the provisions of Section 11(a) relating to Capitalization Adjustments, the maximum number of shares of Common Stock that
may be issued under the Plan will not exceed [            ] shares of Common Stock, plus the number of shares of Common Stock that are automatically added on January 1st of each year for a
period of up to ten years, commencing on the first January 1 following the IPO Date and ending on (and including) January 1, 2027, in an amount equal to the lesser of (i) [    ]% of the total number of shares of Capital
Stock outstanding on December 31st of the preceding calendar year, and (ii) [            ] shares of Common Stock. Notwithstanding the foregoing, the Board may act prior to the first day of
any calendar year to provide that there will be no January 1st increase in the share reserve for such calendar year or that the increase in the share reserve for such calendar year will be a
lesser number of shares of Common Stock than would otherwise occur pursuant to the preceding sentence. 
 (b) If any Purchase Right
granted under the Plan terminates without having been exercised in full, the shares of Common Stock not purchased under such Purchase Right will again become available for issuance under the Plan. 

(c) The stock purchasable under the Plan will be shares of authorized but unissued or reacquired Common Stock, including shares
repurchased by the Company on the open market. 
  

	4.	GRANT OF PURCHASE RIGHTS; OFFERING. 

(a) The Board may from time to time grant or provide for the grant of Purchase Rights to Eligible Employees under an Offering
(consisting of one or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering will be in such form and will contain such terms and conditions as the Board will deem appropriate, and will comply

  
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with the requirement of Section 423(b)(5) of the Code that all Employees granted Purchase Rights will have the same rights and privileges. The terms and conditions of an Offering shall be
incorporated by reference into the Plan and treated as part of the Plan. The provisions of separate Offerings need not be identical, but each Offering will include (through incorporation of the provisions of this Plan by reference in the document
comprising the Offering or otherwise) the period during which the Offering will be effective, which period will not exceed 27 months beginning with the Offering Date, and the substance of the provisions contained in Sections 5 through 8, inclusive.

 (b) If a Participant has more than one Purchase Right outstanding under the Plan, unless he or she otherwise indicates in forms
delivered to the Company: (i) each form will apply to all of his or her Purchase Rights under the Plan, and (ii) a Purchase Right with a lower exercise price (or an earlier-granted Purchase Right, if different Purchase Rights have
identical exercise prices) will be exercised to the fullest possible extent before a Purchase Right with a higher exercise price (or a later-granted Purchase Right if different Purchase Rights have identical exercise prices) will be exercised. 

(c) The Board will have the discretion to structure an Offering so that if the Fair Market Value of a share of Common Stock on the
first Trading Day of a new Purchase Period within that Offering is less than or equal to the Fair Market Value of a share of Common Stock on the Offering Date for that Offering, then (i) that Offering will terminate immediately as of that first
Trading Day, and (ii) the Participants in such terminated Offering will be automatically enrolled in a new Offering beginning on the first Trading Day of such new Purchase Period. 

 

	5.	ELIGIBILITY. 

 (a) Purchase Rights may be granted only to Employees
of the Company or, as the Board may designate in accordance with Section 2(b), to Employees of a Related Corporation. Except as provided in Section 5(b), an Employee will not be eligible to be granted Purchase Rights unless, on the Offering Date,
the Employee has been in the employ of the Company or the Related Corporation, as the case may be, for such continuous period preceding such Offering Date as the Board may require, but in no event will the required period of continuous employment be
equal to or greater than two years. In addition, the Board may provide that no Employee will be eligible to be granted Purchase Rights under the Plan unless, on the Offering Date, such Employee’s customary employment with the Company or the
Related Corporation is more than 20 hours per week and more than five months per calendar year or such other criteria as the Board may determine consistent with Section 423 of the Code. 

(b) The Board may provide that each person who, during the course of an Offering, first becomes an Eligible Employee will, on a date or
dates specified in the Offering which coincides with the day on which such person becomes an Eligible Employee or which occurs thereafter, receive a Purchase Right under that Offering, which Purchase Right will thereafter be deemed to be a part of
that Offering. Such Purchase Right will have the same characteristics as any Purchase Rights originally granted under that Offering, as described herein, except that: 

(i) the date on which such Purchase Right is granted will be the “Offering Date” of such Purchase Right for all purposes,
including determination of the exercise price of such Purchase Right; 

  
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 (ii) the period of the Offering with respect to such Purchase Right will begin on its
Offering Date and end coincident with the end of such Offering; and 
 (iii) the Board may provide that if such person first becomes
an Eligible Employee within a specified period of time before the end of the Offering, he or she will not receive any Purchase Right under that Offering. 

(c) No Employee will be eligible for the grant of any Purchase Rights if, immediately after any such Purchase Rights are granted, such
Employee owns stock possessing five percent or more of the total combined voting power or value of all classes of stock of the Company or of any Related Corporation. For purposes of this Section 5(c), the rules of Section 424(d) of the Code will
apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under all outstanding Purchase Rights and options will be treated as stock owned by such Employee. 

(d) As specified by Section 423(b)(8) of the Code, an Eligible Employee may be granted Purchase Rights only if such Purchase Rights,
together with any other rights granted under all Employee Stock Purchase Plans of the Company and any Related Corporations, do not permit such Eligible Employee’s rights to purchase stock of the Company or any Related Corporation to accrue at a
rate which exceeds $25,000 of Fair Market Value of such stock (determined at the time such rights are granted, and which, with respect to the Plan, will be determined as of their respective Offering Dates) for each calendar year in which such rights
are outstanding at any time. 
 (e) Officers of the Company and any designated Related Corporation, if they are otherwise Eligible
Employees, will be eligible to participate in Offerings under the Plan. Notwithstanding the foregoing, the Board may provide in an Offering that Employees who are highly compensated Employees within the meaning of Section 423(b)(4)(D) of the Code
will not be eligible to participate. 
  

	6.	PURCHASE RIGHTS; PURCHASE PRICE. 

(a) On each Offering Date, each Eligible Employee, pursuant to an Offering made under the Plan, will be granted a Purchase Right to
purchase up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount, as designated by the Board, but in either case not exceeding 15% of such Employee’s earnings (as defined by the Board in
each Offering) during the period that begins on the Offering Date (or such later date as the Board determines for a particular Offering) and ends on the date stated in the Offering, which date will be no later than the end of the Offering. 

(b) The Board will establish one or more Purchase Dates during an Offering on which Purchase Rights granted for that Offering will be
exercised and shares of Common Stock will be purchased in accordance with such Offering. 

  
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 (c) In connection with each Offering made under the Plan, the Board may specify (i) a
maximum number of shares of Common Stock that may be purchased by any Participant on any Purchase Date during such Offering, (ii) a maximum aggregate number of shares of Common Stock that may be purchased by all Participants pursuant to such
Offering and/or (iii) a maximum aggregate number of shares of Common Stock that may be purchased by all Participants on any Purchase Date under the Offering. If the aggregate purchase of shares of Common Stock issuable upon exercise of Purchase
Rights granted under the Offering would exceed any such maximum aggregate number, then, in the absence of any Board action otherwise, a pro rata (based on each Participant’s accumulated Contributions) allocation of the shares of Common Stock
available will be made in as nearly a uniform manner as will be practicable and equitable. 
 (d) The purchase price of shares of
Common Stock acquired pursuant to Purchase Rights will be not less than the lesser of: 
 (i) an amount equal to 85% of the Fair
Market Value of the shares of Common Stock on the Offering Date; or 
 (ii) an amount equal to 85% of the Fair Market Value of the
shares of Common Stock on the applicable Purchase Date. 
  

	7.	PARTICIPATION; WITHDRAWAL; TERMINATION. 

(a) An Eligible Employee may elect to authorize payroll deductions as the means of making Contributions by completing and delivering to
the Company, within the time specified in the Offering, an enrollment form provided by the Company. The enrollment form will specify the amount of Contributions not to exceed the maximum amount specified by the Board. Each Participant’s
Contributions will be credited to a bookkeeping account for such Participant under the Plan and will be deposited with the general funds of the Company except where applicable law requires that Contributions be deposited with a third party. If
permitted in the Offering, a Participant may begin such Contributions with the first payroll occurring on or after the Offering Date (or, in the case of a payroll date that occurs after the end of the prior Offering but before the Offering Date of
the next new Offering, Contributions from such payroll will be included in the new Offering). If permitted in the Offering, a Participant may thereafter reduce (including to zero) or increase his or her Contributions. If specifically provided in the
Offering, in addition to making Contributions by payroll deductions, a Participant may make Contributions through the payment by cash or check prior to a Purchase Date. 

(b) During an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company a
withdrawal form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon such withdrawal, such Participant’s Purchase Right in that Offering will immediately terminate and the Company will
distribute to such Participant all of his or her accumulated but unused Contributions and such Participant’s Purchase Right in that Offering shall thereupon terminate. A Participant’s withdrawal from that Offering will have no effect upon
his or her eligibility to participate in any other Offerings under the Plan, but such Participant will be required to deliver a new enrollment form to participate in subsequent Offerings. 

  
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 (c) Purchase Rights granted pursuant to any Offering under the Plan will terminate
immediately if the Participant either (i) is no longer an Employee for any reason or for no reason (subject to any post-employment participation period required by law) or (ii) is otherwise no longer eligible to participate. The Company
will distribute to such individual all of his or her accumulated but unused Contributions. 
 (d) During a Participant’s
lifetime, Purchase Rights will be exercisable only by such Participant. Purchase Rights are not transferable by a Participant, except by will, by the laws of descent and distribution, or, if permitted by the Company, by a beneficiary designation as
described in Section 10. 
 (e) Unless otherwise specified in the Offering, the Company will have no obligation to pay interest
on Contributions. 
  

	8.	EXERCISE OF PURCHASE RIGHTS. 

(a) On each Purchase Date, each Participant’s accumulated Contributions will be applied to the purchase of shares of Common Stock,
up to the maximum number of shares of Common Stock permitted by the Plan and the applicable Offering, at the purchase price specified in the Offering. No fractional shares will be issued unless specifically provided for in the Offering. 

(b) If any amount of accumulated Contributions remains in a Participant’s account after the purchase of shares of Common Stock and
such remaining amount is less than the amount required to purchase one share of Common Stock on the final Purchase Date of an Offering, then such remaining amount will be held in such Participant’s account for the purchase of shares of Common
Stock under the next Offering under the Plan, unless such Participant withdraws from or is not eligible to participate in such Offering, in which case such amount will be distributed to such Participant after the final Purchase Date, without
interest. If the amount of Contributions remaining in a Participant’s account after the purchase of shares of Common Stock is at least equal to the amount required to purchase one whole share of Common Stock on the final Purchase Date of an
Offering, then such remaining amount will not roll over to the next Offering and will instead be distributed in full to such Participant after the final Purchase Date of such Offering without interest. 

(c) No Purchase Rights may be exercised to any extent unless the shares of Common Stock to be issued upon such exercise under the Plan
are covered by an effective registration statement pursuant to the Securities Act and the Plan is in material compliance with all applicable federal, state, foreign and other securities and other laws applicable to the Plan. If on a Purchase Date
the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights will be exercised on such Purchase Date, and the Purchase Date will be delayed until the shares of Common Stock are subject to such an
effective registration statement and the Plan is in material compliance, except that the Purchase Date will in no event be more than 6 months from the Offering Date. If, on the Purchase Date, as delayed to the maximum extent permissible, the shares
of Common Stock are not registered and the Plan is not in material compliance with all applicable laws, no Purchase Rights will be exercised and all accumulated but unused Contributions will be distributed to the Participants without interest. 

  
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	9.	COVENANTS OF THE COMPANY. 

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

	10.	DESIGNATION OF BENEFICIARY. 

 (a) The
Company may, but is not obligated to, permit a Participant to submit a form designating a beneficiary who will receive any shares of Common Stock and/or Contributions from the Participant’s account under the Plan if the Participant dies before
such shares and/or Contributions are delivered to the Participant. The Company may, but is not obligated to, permit the Participant to change such designation of beneficiary. Any such designation and/or change must be on a form approved by the
Company. 
 (b) If a Participant dies, and in the absence of a valid beneficiary designation, the Company will deliver any shares of
Common Stock and/or Contributions to the executor or administrator of the estate of the Participant. If no executor or administrator has been appointed (to the knowledge of the Company), the Company, in its sole discretion, may deliver such shares
of Common Stock and/or Contributions to the Participant’s spouse, dependents or relatives, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

 

	11.	ADJUSTMENTS UPON CHANGES IN COMMON STOCK; CORPORATE TRANSACTIONS. 

(a) In the event of a Capitalization Adjustment, the Board will appropriately and proportionately adjust: (i) the class(es) and
maximum number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number of securities by which the share reserve is to increase automatically each year pursuant to Section 3(a), (iii) the class(es) and number
of securities subject to, and the purchase price applicable to outstanding Offerings and Purchase Rights, and (iv) the class(es) and number of securities that are the subject of the purchase limits under each ongoing Offering. The Board will
make these adjustments, and its determination will be final, binding and conclusive. 
 (b) In the event of a Corporate Transaction,
then: (i) any surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) may assume or continue outstanding Purchase Rights or may substitute similar rights (including a right to acquire the
same consideration paid to the stockholders in the Corporate Transaction) for outstanding Purchase Rights, or (ii) if any surviving or acquiring corporation (or its parent company) does not assume or continue such Purchase Rights or does
not substitute similar rights for such Purchase Rights, then the Participants’ accumulated Contributions will be used to purchase shares of Common Stock within ten business days prior to the Corporate Transaction under the outstanding Purchase
Rights, and the Purchase Rights will terminate immediately after such purchase. 

  
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	12.	AMENDMENT, TERMINATION OR SUSPENSION OF THE PLAN. 

(a) The Board may amend the Plan at any time in any respect the Board deems necessary or advisable. However, except as provided in
Section 11(a) relating to Capitalization Adjustments, stockholder approval will be required for any amendment of the Plan for which stockholder approval is required by applicable law or listing requirements, including any amendment that either
(i) materially increases the number of shares of Common Stock available for issuance under the Plan, (ii) materially expands the class of individuals eligible to become Participants and receive Purchase Rights, (iii) materially
increases the benefits accruing to Participants under the Plan or materially reduces the price at which shares of Common Stock may be purchased under the Plan, (iv) materially extends the term of the Plan, or (v) expands the types of
awards available for issuance under the Plan, but in each of (i) through (v) above only to the extent stockholder approval is required by applicable law or listing requirements. 

(b) The Board may suspend or terminate the Plan at any time. No Purchase Rights may be granted under the Plan while the Plan is
suspended or after it is terminated. 
 (c) Any benefits, privileges, entitlements and obligations under any outstanding Purchase
Rights granted before an amendment, suspension or termination of the Plan will not be materially impaired by any such amendment, suspension or termination except (i) with the consent of the person to whom such Purchase Rights were granted,
(ii) as necessary to comply with any laws, listing requirements, or governmental regulations (including, without limitation, the provisions of Section 423 of the Code and the regulations and other interpretive guidance issued thereunder
relating to Employee Stock Purchase Plans) including without limitation any such regulations or other guidance that may be issued or amended after the date the Plan is adopted by the Board, or (iii) as necessary to obtain or maintain favorable
tax, listing, or regulatory treatment. To be clear, the Board may amend outstanding Purchase Rights without a Participant’s consent if such amendment is necessary to ensure that the Purchase Right and/or the Plan complies with the requirements
of Section 423 of the Code. 
  

	13.	EFFECTIVE DATE OF PLAN. 

 The
Plan will become effective immediately prior to and contingent upon the IPO Date. No Purchase Rights will be exercised unless and until the Plan has been approved by the stockholders of the Company, which approval must be within 12 months before or
after the date the Plan is adopted (or if required under Section 12(a) above, materially amended) by the Board. 
  

	14.	MISCELLANEOUS PROVISIONS. 

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

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

	15.	DEFINITIONS. 

 As used in the Plan, the following definitions will apply
to the capitalized terms indicated below: 
 (a) “Board” means the Board of Directors of the Company.

 (b) “Capital Stock” means each and every class of common stock of the Company, regardless of the
number of votes per share. 
 (c) “Capitalization Adjustment” means any change that is made in, or other
events that occur with respect to, the Common Stock subject to the Plan or subject to any Purchase Right after the date the Plan is adopted by the Board without the receipt of consideration by the Company through merger, consolidation,
reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, large nonrecurring cash dividend, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or
other similar equity restructuring transaction, as that term is used in Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto). Notwithstanding the foregoing, the conversion of any convertible
securities of the Company will not be treated as a Capitalization Adjustment. 
 (d) “Code” means the
Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder. 
 (e)
“Committee” means a committee of one or more members of the Board to whom authority has been delegated by the Board in accordance with Section 2(c). 

(f) “Common Stock” means, as of the IPO Date, the common stock of the Company, having 1 vote per share. 

(g) “Company” means Ovid Therapeutics Inc., a Delaware corporation. 

(h) “Contributions” means the payroll deductions and other additional payments specifically provided for in the
Offering that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account if specifically provided for in the Offering, and then only if the Participant has not already had
the maximum permitted amount withheld during the Offering through payroll deductions. 

  
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 (i) “Corporate Transaction” means the consummation, in a single
transaction or in a series of related transactions, of any one or more of the following events: 
 (i) a sale or other
disposition of all or substantially all, as determined by the Board in its sole discretion, of the consolidated assets of the Company and its Subsidiaries; 

(ii) a sale or other disposition of more than 50% of the outstanding securities of the Company; 

(iii) a merger, consolidation or similar transaction following which the Company is not the surviving corporation; or 

(iv) a merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common
Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar transaction into other property, whether in the form of securities, cash or
otherwise. 
 (j) “Director” means a member of the Board. 

(k) “Eligible Employee” means an Employee who meets the requirements set forth in the document(s)
governing the Offering for eligibility to participate in the Offering, provided that such Employee also meets the requirements for eligibility to participate set forth in the Plan. 

(l) “Employee” means any person, including an Officer or Director, who is “employed” for
purposes of Section 423(b)(4) of the Code by the Company or a Related Corporation. However, service solely as a Director, or payment of a fee for such services, will not cause a Director to be considered an “Employee” for purposes of the
Plan. 
 (m) “Employee Stock Purchase Plan” means a plan that grants Purchase Rights intended to be
options issued under an “employee stock purchase plan,” as that term is defined in Section 423(b) of the Code. 
 (n)
“Exchange Act” means the Securities Exchange Act of 1934, as amended and the rules and regulations promulgated thereunder. 

(o) “Fair Market Value” means, as of any date, the value of the Common Stock determined as follows: 

(i) If the Common Stock is listed on any established stock exchange or traded on any established market, the Fair Market Value of a
share of Common Stock will be, unless otherwise determined by the Board, the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock)
on the date of determination, as reported in such source as the Board deems reliable. Unless otherwise provided by the Board, if there is no closing sales price for the Common Stock on the date of determination, then the Fair Market
Value will be the closing sales price on the last preceding date for which such quotation exists. 

  
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 (ii) In the absence of such markets for the Common Stock, the Fair Market Value will be
determined by the Board in good faith in compliance with applicable laws and in a manner that complies with Sections 409A of the Code. 

(iii) Notwithstanding the foregoing, for any Offering that commences on the IPO Date, the Fair Market Value of the shares of Common
Stock on the Offering Date will be the price per share at which shares are first sold to the public in the Company’s initial public offering as specified in the final prospectus for that initial public offering. 

(p) “IPO Date” means the date of the underwriting agreement between the Company and the underwriter(s)
managing the initial public offering of the Common Stock, pursuant to which the Common Stock is priced for the initial public offering. 

(q) “Offering” means the grant to Eligible Employees of Purchase Rights, with the exercise of those
Purchase Rights automatically occurring at the end of one or more Purchase Periods. The terms and conditions of an Offering will generally be set forth in the “Offering Document” approved by the Board for that Offering. 

(r) “Offering Date” means a date selected by the Board for an Offering to commence. 

(s) “Officer” means a person who is an officer of the Company or a Related Corporation within the
meaning of Section 16 of the Exchange Act. 
 (t) “Participant” means an Eligible Employee who
holds an outstanding Purchase Right. 
 (u) “Plan” means this Ovid Therapeutics Inc. 2017 Employee
Stock Purchase Plan. 
 (v) “Purchase Date” means one or more dates during an Offering selected by the
Board on which Purchase Rights will be exercised and on which purchases of shares of Common Stock will be carried out in accordance with such Offering. 

(w) “Purchase Period” means a period of time specified within an Offering, generally beginning on the Offering
Date or on the first Trading Day following a Purchase Date, and ending on a Purchase Date. An Offering may consist of one or more Purchase Periods. 

(x) “Purchase Right” means an option to purchase shares of Common Stock granted pursuant to the Plan.

 (y) “Related Corporation” means any “parent corporation” or “subsidiary
corporation” of the Company whether now or subsequently established, as those terms are defined in Sections 424(e) and (f), respectively, of the Code. 

(z) “Securities Act” means the Securities Act of 1933, as amended. 

(aa) “Trading Day” means any day on which the exchange(s) or market(s) on which shares of Common Stock
are listed, including but not limited to the NYSE, Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or any successors thereto, is open for trading. 

  
 11EX-10.13

 Exhibit 10.13 

AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT 

Jeremy Levin (“Executive”) is currently employed by OVID THERAPEUTICS INC. (the
“Company”) as its Chief Executive Officer (“CEO”) pursuant to the terms of an Executive Employment Agreement with the Company dated June 5, 2015 (the “Prior Agreement”).
Executive and the Company hereby agree to amend and restate the Prior Agreement. The terms and conditions set forth in this AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) shall become effective
as of the effective date of the first registration statement filed by the Company to register shares of its common stock for sale to the public through one or more underwriters (the “Effective Date”), and shall supersede and
replace the terms and conditions set forth in the Prior Agreement. Certain capitalized terms used in this Agreement are defined in Section 6. 

WHEREAS, the Company is a biopharmaceutical company; 

WHEREAS, the Company desires for Executive to continue to provide services to the Company, and wishes to provide Executive with certain
compensation and benefits in return for such services, as set forth in this Agreement; and 
 WHEREAS, Executive wishes to continue
to be employed by the Company and to provide personal services to the Company in return for certain compensation and benefits, as set forth in this Agreement. 

NOW, THEREFORE, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Company and Executive agree as follows: 
 1. TERMS OF EMPLOYMENT 

1.1.    Position, Duties and Location. Executive shall continue to serve as CEO and Chairman of the Board,
reporting to the Board. Executive shall perform those duties and responsibilities as are customary for such positions and as may be directed by the Board from time to time. As CEO, Executive’s duties shall include responsibility for:
(a) all day-to-day management decisions and for leading the development and execution of the Company’s short and long-term strategy, and (b) communicating
on behalf of the Company to stockholders, employees, government authorities and the public. Executive’s specific responsibilities as CEO include, but are not limited to: (i) setting the strategy for the Company and ensuring the
organization is appropriately staffed and has appropriate financial, physical and human resources to execute the strategy; (ii) assessing and monitoring significant business risks and trends; (iii) ensuring that effective internal controls
and systems are in place in order for the Company to conduct its activities lawfully and ethically; and (iv) ensuring that the Board is properly informed and ensuring the integrity of all public disclosures. As Chairman of the Board,
Executive’s duties include presiding at all meetings of the Board and stockholders and developing the agenda for each Board meeting and circulating it in advance of the meeting. During Executive’s employment with the Company, Executive
shall devote Executive’s best efforts and substantially all of Executive’s business time and attention to the business of the Company, except for approved vacation periods and reasonable periods of illness or other incapacities permitted
by the Company’s general employment policies. Executive’s primary office location will be the Company’s offices in New York, New York. Notwithstanding the foregoing, the Company reserves the right to reasonably require Executive to
perform Executive’s duties at places other than Executive’s primary office location from time to time, and to require reasonable business travel. During Executive’s employment with the Company, Executive shall not engage in any
activity that conflicts with or is detrimental to the Company’s best interests, as determined by the Board. 

 1.2.    Employment Term. Executive will be employed by the
Company on an “at-will” basis. This means that either the Company or Executive may terminate Executive’s employment at any time, for any reason, with or without Cause, and with or without
advance notice (provided that Resignation for Good Reason (as defined below) requires certain advanced notice by Executive of Executive’s termination of employment). Subject to the terms herein, it also means that Executive’s job title,
duties, responsibilities, reporting level, compensation and benefits, as well as the Company’s personnel policies and procedures, may be changed with or without notice at any time in the Company’s sole discretion. This at-will employment relationship shall not be modified by any conflicting actions or representations of any Company employee or other party before or during the term of Executive’s employment. 

1.3.    Compensation. 

a)    Annual Base Salary. Executive’s annual base salary shall be paid at the rate of $515,000 per year
(“Annual Base Salary”), payable in equal installments, less applicable payroll deductions and withholdings, on the Company’s ordinary payroll cycle. Executive’s Annual Base Salary shall be subject to annual review
by the Board and may be adjusted from time to time; provided, however, that if the Board determines, as set forth in Section 1.3(c), that one hundred percent (100%) of the written Company and individual objectives have been achieved
for a given calendar year, then the Annual Base Salary shall be adjusted for the following calendar year such that it is approximately equal to the seventy-fifth (75th) percentile of base salaries
of peer group public company chief executive officers, as determined by Radford or another reputable compensation consultant selected by the Board in its sole discretion. As an exempt salaried employee, Executive will be required to work the
Company’s normal business hours, and such additional time as appropriate for Executive’s work assignments and position, and Executive will not be entitled to overtime compensation. 

b)    Benefits. Executive will continue to be eligible to participate in all of the employee benefits and
benefit plans that the Company generally makes available to its full-time employees and executives in accordance with the terms and conditions of the benefit plans and applicable policies as in effect from time to time. In accordance with the
Company’s policies and procedures, as in effect from time to time, Executive will be eligible to accrue up to four (4) weeks of paid vacation and paid sick leave per year. 

c)    Bonus. Executive shall be eligible to earn an annual performance bonus of at least fifty percent (50%)
of Executive’s Annual Base Salary (the “Target Performance Bonus”). The Target Performance Bonus shall be based upon the Board’s assessment of Executive’s attainment of written Company and individual objectives
as set by the Board in its sole discretion. The Board may increase the Target Performance Bonus in its sole discretion. Bonus payments, if any, shall be subject to applicable payroll deductions and withholdings. Following the close of each calendar
year, the Board shall determine whether Executive has earned a Target Performance Bonus, and the amount of any such bonus, based on the achievement of such objectives. Except as provided in Sections 2.2 and 3.2, Executive must be an employee of the
Company in good standing on the Target Performance Bonus payment date to be eligible to receive a Target Performance Bonus, and no partial or prorated bonuses shall be provided. The Target Performance Bonus, if earned, shall be paid on or before
March 15th of the calendar year after the applicable bonus year. Executive’s bonus eligibility is subject to change in the discretion of the Board. 

d)    Equity Compensation. Executive has already been granted options to purchase shares of the
Company’s common stock, which shall continue to be governed by the terms of the 

  
 2 

 
applicable stock option agreements, grant notices and the Company’s 2014 Equity Incentive Plan, as amended (the “Equity Plan”). At the discretion of the Board,
Executive shall be eligible to receive additional options to purchase shares of the Company’s common stock. 

1.4.    Reimbursement of Expenses. Subject to Section 4.8(c), the Company shall reimburse Executive for
Executive’s necessary and reasonable business expenses incurred in connection with Executive’s duties in accordance with the Company’s generally applicable expense reimbursement policies as in effect from time to time. 

1.5.    Board Seat. So long as Executive is the CEO, the Board shall continue to re-nominate Executive for election when his term expires at the relevant annual meeting of stockholders. Executive’s membership on the Board will depend on the Company’s governance practices, stockholder
vote, and applicable rules of the Company, as is the case with all other members of the Board; provided, however, that once the Company’s securities become publicly traded on a national securities exchange or in the over the
counter market, no director, including Executive, will be permitted to serve as a member of the Board longer than ten (10) consecutive years. 

1.6.    Indemnification Agreement. Executive and Company shall enter into an Indemnity Agreement (the
“Indemnification Agreement”), which shall be effective as of the Effective Date and is incorporated herein by reference. 

1.7.    Compliance with Confidentiality Agreement and Company Policies. Executive and the Company have
executed the Confidentiality Agreement, which is incorporated herein by reference. In addition, Executive is required to continue to abide by the Company’s policies and procedures, including but not limited to the Company’s Employee
Handbook, as adopted or modified from time to time within the Company’s discretion; provided, however, that in the event the terms of this Agreement differ from or are in conflict with the Company’s general employment
policies or practices, this Agreement shall control. 
 2. COVERED TERMINATION SEVERANCE BENEFITS 

2.1.    Severance Benefits. Upon a Covered Termination, then subject to Section 4 below and
Executive’s continued compliance with the terms of this Agreement, the Company shall provide Executive with the severance benefits set forth in this Section 2 (the “Severance Benefits”). 

2.2.    Salary and Pro-Rata Bonus Payment. The Company shall pay
Executive, as cash severance, (i) the sum of Executive’s Monthly Base Salary and Pro-Rata Bonus, multiplied by (ii) the number of months in the Covered Termination Severance Period, less
applicable payroll deductions and withholdings (the “Severance”). The Severance shall be paid (except as set forth in Section 4) in equal installments on the Company’s ordinary payroll cycle commencing on the first
regularly-scheduled payroll date occurring on or after the Release Deadline Date (as set forth in Section 4.1). 

2.3.    Health Continuation Payments. 

a)    The Company will pay Executive on the first day of each month a fully taxable cash payment equal to the
applicable premium for Executive, his spouse and any dependents for the group health plan maintained by the Company for the month in which the Covered Termination occurs, subject to applicable tax withholdings but grossed up for all taxes owed by
the Executive on such payment, for the duration of the Covered Termination Benefits Period. Such coverage shall be counted as coverage pursuant to COBRA. The Company shall have no obligation in respect of any premium payments

  
 3 

 
following the effective date of the Executive’s coverage by a health insurance plan of a subsequent employer. Executive shall be required to notify the Company immediately if Executive
becomes covered by a health insurance plan of a subsequent employer. 
 b)    For purposes of this
Section 2.3, (i) references to COBRA shall be deemed to include analogous provisions of state law, and (ii) any applicable insurance premiums that are paid by the Company shall not include any amounts payable by Executive under a Code
Section 125 health care reimbursement plan, which amounts, if any, are the sole responsibility of Executive. 

2.4.    Covered Termination Vesting Acceleration Benefits. Upon a Covered Termination, (i) the vesting
and exercisability of all outstanding options to purchase the Company’s common stock (or stock appreciation rights or other rights with respect to the stock of the Company issued pursuant to any equity incentive plan of the Company) that are
held by Executive on the Termination Date shall be accelerated in full, (ii) each such option shall be exercisable and to the extent not exercised, expire on the latest date permitted under the Equity Plan and (iii) any reacquisition or
repurchase rights held by the Company with respect to common stock issued or issuable (or with respect to other rights with respect to the stock of the Company issued or issuable) pursuant to any other stock award granted to Executive pursuant to
any equity incentive plan of the Company shall lapse. 
 2.5.    Reimbursement of Legal Fees. The Company
will reimburse Executive for actual legal fees incurred, up to a maximum of $50,000, in connection with the review of the Release, subject to and in accordance with the Company’s expense reimbursement policies as in effect from time to time.

 2.6.    Administrative and Secretarial Support. The Company shall provide Executive with full-time
administrative and secretarial support during the Covered Termination Severance Period (the “Admin Support”); provided, however, that the Company’s obligation to provide the Admin Support will cease if
Executive obtains new full-time employment with administrative support during the Covered Termination Severance Period, and Executive must notify the Company within two (2) weeks if he obtains such new full-time employment. 

3. CHANGE IN CONTROL BENEFITS 

3.1.    Change in Control Benefits. If Executive is an employee of the Company on the date of the closing of
a Change in Control, then subject to Section 4 below, Executive’s continued compliance with the terms of this Agreement and Executive signing and not revoking a general release of claims in a form to be provided by the Company (the
“Change in Control Release”), which Change in Control Release must become effective and irrevocable no later than the sixtieth (60th) day following the date of the closing of a Change in Control (the “Change in
Control Release Deadline Date”), the Company shall provide Executive with the change in control benefits set forth in this Section 3 (the “Change in Control Benefits”). 

3.2.    Change in Control Bonus Payment. The Company shall pay Executive, as a change in control bonus
payment , (i) the sum of Executive’s Monthly Base Salary and Pro-Rata Bonus, multiplied by (ii) thirty-six (36) months, less applicable payroll deductions
and withholding (the “Change in Control Bonus”). The Change in Control Bonus shall be paid (except as set forth in Section 4) in equal installments on the Company’s ordinary payroll cycle commencing on the first
regularly-scheduled payroll date occurring on or after the Change in Control Release Deadline Date. On the first regularly-scheduled payroll date occurring on or after the Change in Control Release Deadline Date, the Company shall pay Executive the
Change in Control Bonus amount that Executive would otherwise have received on or prior to such date but for the delay in payment related to the effectiveness of the Release, with the balance of the Change in Control Bonus amount being paid as
originally scheduled. 

  
 4 

 3.3.    Change in Control Vesting Acceleration Benefits. Upon a
Change in Control, (i) the vesting and exercisability of all outstanding options to purchase the Company’s common stock (or stock appreciation rights or other rights with respect to the stock of the Company issued pursuant to any equity
incentive plan of the Company) that are held by Executive on the date of the Change in Control shall be accelerated in full and (ii) any reacquisition or repurchase rights held by the Company with respect to common stock issued or issuable (or
with respect to other rights with respect to the stock of the Company issued or issuable) pursuant to any other stock award granted to Executive pursuant to any equity incentive plan of the Company shall lapse. 

4. LIMITATIONS AND CONDITIONS ON BENEFITS 

4.1.    Release Prior to Payment of Severance Benefits. The receipt of any Severance Benefits pursuant to
this Agreement is subject to Executive (or his estate or representative in the event of his death) signing and not revoking a separation agreement and general release of claims (the “Release”), in substantially the form
attached hereto and incorporated herein as Exhibit A or Exhibit B, as appropriate, which Release must become effective and irrevocable no later than the sixtieth (60th) day following Executive’s Termination Date (the
“Release Deadline Date”). If the Release does not become effective and irrevocable by the Release Deadline Date, Executive will forfeit any right to any Severance Benefits under this Agreement. In no event will Severance
Benefits be paid or provided until after the Release Deadline Date. On the first regularly-scheduled payroll date occurring on or after the Release Deadline Date, the Company will pay Executive the Severance amount that Executive would otherwise
have received on or prior to such date but for the delay in payment related to the effectiveness of the Release, with the balance of the Severance amount being paid as originally scheduled. The Company may modify the Release in its discretion to
comply with changes in applicable law at any time prior to Executive’s execution of such Release. 

4.2.    Return of Company Property. Not later than the Termination Date, Executive shall return to the
Company all documents (and all copies thereof) and other property belonging to the Company that Executive has in his or her possession or control. The documents and property to be returned include, but are not limited to, all files, correspondence,
email, memoranda, notes, notebooks, records, plans, forecasts, reports, studies, analyses, compilations of data, proposals, agreements, financial information, research and development information, marketing information, operational and personnel
information, databases, computer-recorded information, tangible property and equipment (including, but not limited to, computers, facsimile machines, mobile telephones and servers), credit cards, entry cards, identification badges and keys, and any
materials of any kind which contain or embody any proprietary or confidential information of the Company (and all reproductions thereof in whole or in part). Executive agrees to make a diligent search to locate any such documents, property and
information. If Executive has used any personally owned computer, server or e-mail system to receive, store, review, prepare or transmit any Company confidential or proprietary data, materials or information,
then within ten (10) business days after the Termination Date, Executive shall provide the Company with a computer-useable copy of all such information and then permanently delete and expunge such confidential or proprietary information from
those systems. Executive agrees to provide the Company with a certification that the necessary copying and/or deletion is done. 

  
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 4.3.    Cooperation and Continued Compliance with Restrictive
Covenants. 
 a)    After the Termination Date, Executive shall cooperate fully with the Company, at
reasonable times as agreed between Executive and the Company, in connection with its actual or contemplated defense, prosecution or investigation of any existing or future litigation, arbitrations, mediations, claims, demands, audits, government or
regulatory inquiries, or other matters arising from events, acts or failures to act that occurred during the time period in which Executive was employed by the Company (including any period of employment with an entity acquired by the Company). Such
cooperation includes, without limitation, being available upon reasonable notice, without subpoena, to provide accurate and complete advice, assistance and information to the Company, including offering and explaining evidence, providing truthful
and accurate sworn statements, and participating in discovery and trial preparation and testimony. Executive also agrees to promptly send the Company copies of all correspondence (for example, but not limited to, subpoenas) received by Executive in
connection with any such legal proceedings, unless Executive is expressly prohibited by law from so doing. Nothing in this Agreement prohibits Executive from responding accurately and fully to any request for information if required by legal process
or in connection with a government investigation. In addition, nothing in this Agreement is intended to prohibit or restrain Executive in any manner from making disclosures that are protected under the whistleblower provisions of federal law or
regulation or under other applicable law or regulation. The Company will reimburse Executive for reasonable out-of-pocket expenses incurred in connection with any such
cooperation (excluding foregone wages, salary or other compensation) within thirty (30) days of Executive’s timely presentation of appropriate documentation thereof, in accordance with the Company’s standard reimbursement policies and
procedures. The Company will reasonably accommodate Executive’s scheduling needs with respect to any such cooperation after the Termination Date. 

b)    After the Termination Date, Executive shall continue to abide by Executive’s continuing obligations
under the Confidentiality Agreement. 
 c)    From the Effective Date until two (2) years after the
effective date of a Covered Termination or termination for Cause, as applicable, Executive shall not, without the Company’s prior written consent: (i) directly or indirectly, in the area of neurology, be employed, under contract with or
involved with any business or not-for-profit organization that is (A) supporting patients or (B) researching, developing, manufacturing, selling or otherwise
exploiting any products or technologies, that are directed towards treating rare or orphan neurological conditions or diseases and compete or might compete with products and/or services then under research or development by the Company or that are
being sold by the Company; or (ii) directly or indirectly, hire or retain, or attempt to hire or retain, any of the Company’s then-existing board members, employees, advisors, consultants or agents and shall not induce any such to give up
employment with or to cease providing services to the Company, and shall not otherwise interfere with, or attempt to interfere with, the relationship of any such person with the Company. 

d)    Nothing in Section 4.3(c) shall prohibit Executive from investing as a less than five percent (5%)
shareholder in securities of any company listed on a national securities exchange or quoted on an automated quotation system. 

e)    Executive acknowledges and agrees that Executive’s obligations under this Section 4.3 are an
essential part of the consideration Executive is providing hereunder in exchange for which and in reliance upon which the Company has agreed to provide the payments and benefits under this Agreement. Executive further acknowledges and agrees that
Executive’s violation of this Section 4.3 inevitably would involve use or disclosure of the Company’s proprietary and confidential information. If it is determined by a court of competent jurisdiction in any state that any restriction
in this Section 4.3 is 

  
 6 

 
excessive in duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of the parties that such restriction may be modified or amended by the court
to render it enforceable to the maximum extent permitted by the law of that state. 
 4.4.    Parachute
Payments. 
 a)    Parachute Payment Limitation. If any payment or benefit (including payments and
benefits pursuant to this Agreement) Executive would receive in connection with a Change in Control from the Company or otherwise (“Payment”) would (i) constitute a “parachute payment” within the meaning of
Section 280G of the Code, and (ii) but for this paragraph, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Company shall cause to be determined, before any amounts
of the Payment are paid to Executive, which of the following two alternative forms of payment shall be paid to Executive: (A) payment in full of the entire amount of the Payment (a “Full Payment”), or (B) payment of
only a part of the Payment so that Executive receives the largest payment possible without the imposition of the Excise Tax (a “Reduced Payment”). A Full Payment shall be made in the event that the amount received by the
Executive on a net after-tax basis is greater than what would be received by the Executive on a net after-tax basis if the Reduced Payment were made, otherwise a Reduced
Payment shall be made. If a Reduced Payment is made, (i) the Payment shall be paid only to the extent permitted under the Reduced Payment alternative, and Executive shall have no rights to any additional payments and/or benefits constituting
the Payment, and (ii) reduction in payments and/or benefits shall occur in the following order: (A) reduction of cash payments; (B) cancellation of accelerated vesting of equity awards other than stock options; (C) cancellation
of accelerated vesting of stock options; and (D) reduction of other benefits paid to Executive. In the event that acceleration of compensation from Executive’s equity awards is to be reduced, such acceleration of vesting shall be canceled
in the reverse order of the date of grant. 
 b)    The independent registered public accounting firm engaged by
the Company for general audit purposes as of the day prior to the effective date of the Change in Control shall make all determinations required to be made under this Section 4.4. If the independent registered public accounting firm so engaged
by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall appoint a nationally recognized independent registered public accounting firm to make the determinations
required hereunder. The Company shall bear all expenses with respect to the determinations by such independent registered public accounting firm required to be made hereunder. 

c)    The independent registered public accounting firm engaged to make the determinations hereunder shall provide
its calculations, together with detailed supporting documentation, to the Company and Executive within fifteen (15) calendar days after the date on which Executive’s right to a Payment is triggered (if requested at that time by the Company
or Executive) or such other time as requested by the Company or Executive. If the independent registered public accounting firm determines that no Excise Tax is payable with respect to a Payment, either before or after the application of the Reduced
Amount, it shall furnish the Company and Executive with an opinion reasonably acceptable to Executive that no Excise Tax will be imposed with respect to such Payment. Any good faith determinations of the accounting firm made hereunder shall be
final, binding and conclusive upon the Company and Executive. 
 4.5.    Certain Reductions and Offsets.
To the extent that any federal, state or local laws, including, without limitation, the Worker Adjustment and Retraining Notification Act or any other so-called “plant closing” laws, require the
Company to give advance notice or make a payment of any kind to Executive because of Executive’s involuntary termination due to a layoff, reduction in force, plant or 

  
 7 

 
facility closing, sale of business, change in control or any other similar event or reason, the benefits payable under this Agreement shall be correspondingly reduced. The benefits provided under
this Agreement are intended to satisfy any and all statutory obligations that may arise out of Executive’s involuntary termination of employment for the foregoing reasons, and the parties shall construe and enforce the terms of this Agreement
accordingly. 
 4.6.    Mitigation. Except as otherwise specifically provided herein, Executive shall not
be required to mitigate damages or the amount of any payment provided under this Agreement by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for under this Agreement be reduced by any compensation
earned by Executive as a result of employment by another employer or by any retirement benefits received by Executive after the date of a Covered Termination (except as expressly provided in Sections 2.3 and 2.6 above). 

4.7.    Indebtedness of Executive. If Executive is indebted to the Company on the effective date of a Change
in Control or Covered Termination, the Company reserves the right to offset any Severance Benefits or Change in Control Benefits under this Agreement by the amount of such indebtedness, subject to the requirements of Section 409A of the Code and
applicable law. 
 4.8.    Application of Section 409A. 

a)    Separation from Service. Notwithstanding any provision to the contrary in this Agreement, no amount
deemed deferred compensation subject to Section 409A of the Code shall be payable pursuant to Section 2 unless Executive’s termination of employment constitutes a “separation from service” with the Company within the meaning of
Section 409A of the Code and the Department of Treasury Regulations and other guidance promulgated thereunder and, except as provided under Section 4.8(b) hereof, any such amount shall not be paid, or in the case of installments, commence payment,
until the first regularly-scheduled payroll date occurring on or after the sixtieth (60th) day following Executive’s separation from service. Any installment payments that would have been made to Executive during the sixty (60) day period
immediately following Executive’s separation from service but for the preceding sentence shall be paid to Executive on the first regularly-scheduled payroll date occurring on or after the sixtieth (60th) day after Executive’s separation
from service and the remaining payments shall be made as provided in this Agreement. 
 b)    Specified
Executive. Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed at the time of his or her separation from service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to
the extent delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Executive’s
benefits shall not be provided to Executive prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of Executive’s “separation from service” with the Company (as such term is defined in the
Treasury Regulations issued under Section 409A of the Code) or (ii) the date of Executive’s death. Upon the first business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant
to this Section 4.8(b) shall be paid in a lump sum to Executive, and any remaining payments due under this Agreement shall be paid as otherwise provided herein. 

c)    Expense Reimbursements. To the extent that any reimbursement payable pursuant to this Agreement is
subject to the provisions of Section 409A of the Code, any such reimbursement payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred;
the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year; and Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another
benefit. 

  
 8 

 d)    Installments. For purposes of Section 409A of the Code
(including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), Executive’s right to receive any installment payments under this Agreement shall be treated as a right to
receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment. 

4.9.    Tax Withholding. All payments under this Agreement shall be subject to applicable withholding for
federal, state and local income and employment taxes. 
 4.10.    No Duplication of Severance Benefits.
The Severance Benefits and Change in Control Benefits provided in Section 2 and Section 3 are mutually exclusive of each other, and in no event shall Executive receive any Severance Benefits or Change in Control Benefits pursuant to
both Section 2 and Section 3. 
 5. TERMINATION WITH CAUSE OR BY VOLUNTARY RESIGNATION; OTHER RIGHTS AND BENEFITS 

5.1.    Termination for Cause; Resignation Without Good Reason; or Disability. If, at any time, the Company
terminates Executive’s employment with the Company for Cause, or upon a voluntary resignation by Executive that is not a Resignation for Good Reason, or Executive’s employment terminates for any reason not entitling Executive to the
Severance Benefits, or if Executive’s employment terminates as a result of Executive’s disability (other than a Permanent Disability), then the Company shall have no further obligation to Executive hereunder except for the payment or
provision, as applicable, of (i) the portion of the Annual Base Salary accrued through Executive’s last day of employment, (ii) all unreimbursed expenses (if any), subject to Sections 1.4 and 4.8(c), and (iii) any unused vacation
(if applicable) accrued through Executive’s last day of employment. Under these circumstances, Executive will not be entitled to any other form of compensation, including any Severance Benefits, other than Executive’s rights to the vested
portion of Executive’s Option and any other rights to which Executive is entitled under the Company’s benefit programs. 

5.2.    Other Rights and Benefits. Nothing in this Agreement shall prevent or limit Executive’s
continuing or future participation in any benefit, bonus, incentive or other plans, programs, policies or practices provided by the Company and for which Executive may otherwise qualify, nor shall anything herein limit or otherwise affect such
rights as Executive may have under other agreements with the Company except as provided in Section 4 and Section 5.1 above. Except as otherwise expressly provided herein, amounts that are vested benefits or that Executive is otherwise
entitled to receive under any plan, policy, practice or program of the Company at or subsequent to the date of a Change in Control shall be payable in accordance with such plan, policy, practice or program. 

6. DEFINITIONS 
 For purposes of this
Agreement, the following definitions shall apply: 
 6.1.    “Board” means the Board of
Directors of the Company, or the compensation committee thereof, as determinations or responsibilities may be delegated by the Board to the compensation committee. 

  
 9 

 6.2.    “Cause” shall mean a determination by
the Company based upon reasonably available information of Executive’s: (i) unauthorized use or disclosure of the Company’s confidential information or trade secrets, which use or disclosure causes harm to the Company;
(ii) material breach of any agreement to which the Executive and the Company are a party resulting in harm to the Company; (iii) failure to comply with the Company’s written policies or rules resulting in material harm to the Company;
(iv) conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State; (v) negligence or willful misconduct relating to Executive’s performance of his duties on
behalf of the Company resulting in material harm to the Company; (vi) continuing failure to perform material and lawful assigned duties after receiving written notification of the failure from the Board; (vii) failure to cooperate in good
faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested Executive’s cooperation without prejudice or personal liability to Executive; (viii) violation of
employee or ethical guidelines including, without limitation, violations of business practices and ethics commonly in place in similar companies in the United States; or (ix) violation of the code of conduct as stipulated and agreed to in the
signed License Agreement, dated as of March 25, 2015, with H. Lundbeck A/S. With respect to clause (vi), Executive will be given written notice and a 30-day period in which to cure such breach. Executive
agrees that the breach of any confidentiality obligation to the Company or any subsidiary shall not be curable to any extent. 

6.3.    “Change in Control” means the occurrence, in a single transaction or in a series of
related transactions, of any one or more of the following events: 
 a)    Any natural person, entity or group within
the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (“Exchange Act Person”), becomes the owner, directly or indirectly, of securities of the Company representing more than fifty
percent (50%) of the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar transaction. Notwithstanding the foregoing, a Change in Control shall not be deemed to occur
(i) on account of the acquisition of securities of the Company by any institutional investor, any affiliate thereof or any other Exchange Act Person that acquires the Company’s securities in a transaction or series of related transactions
that are primarily a private financing transaction for the Company or (ii) solely because the level of ownership held by any Exchange Act Person (the “Subject Person”) exceeds the designated percentage threshold of the
outstanding voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence)
as a result of the acquisition of voting securities by the Company, and after such share acquisition, the Subject Person becomes the owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred,
increases the percentage of the then outstanding voting securities owned by the Subject Person over the designated percentage threshold, then a Change in Control shall be deemed to occur; 

b)    There is consummated a merger, consolidation or similar transaction involving, directly or indirectly, the Company
if, immediately after the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto do not own, directly or indirectly, either (i) outstanding voting securities representing
more than fifty percent (50%) of the combined outstanding voting power of the surviving entity in such merger, consolidation or similar transaction or (ii) more than fifty percent (50%) of the combined outstanding voting power of the
parent of the surviving entity in such merger, consolidation or similar transaction; 

  
 10 

 c)    The stockholders of the Company approve or the Board approves a plan of
complete dissolution or liquidation of the Company, or a complete dissolution or liquidation of the Company shall otherwise occur; or 

d)    There is consummated a sale, lease, license or other disposition of all or substantially all of the consolidated
assets of the Company and its subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company and its subsidiaries to an entity, more than fifty percent (50%) of the
combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same proportion as their ownership of the Company immediately prior to such sale, lease, license or other disposition. 

The term Change in Control shall not include a sale of assets, merger or other transaction effected exclusively for the purpose of changing
the domicile of the Company. Notwithstanding the foregoing or any other provision of this Agreement, the definition of Change in Control (or any analogous term) in an individual written agreement between the Company or any affiliate and the
participant shall supersede the foregoing definition with respect to stock awards subject to such agreement (it being understood, however, that if no definition of Change in Control or any analogous term is set forth in such an individual written
agreement, the foregoing definition shall apply). 
 6.4.    “COBRA” means the
Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. 
 6.5.    “Code”
means the Internal Revenue Code of 1986, as amended. 
 6.6.    “Company” means Ovid
Therapeutics Inc. or, following a Change in Control, the surviving entity resulting from such transaction, or any subsequent surviving entity resulting from any subsequent Change in Control. 

6.7.    “Confidentiality Agreement” means Executive’s Confidential Information and
Invention Assignment Agreement with the Company, dated August 8, 2014 (or any successor agreement thereto). 

6.8.     “Covered Termination” means an “Involuntary Termination Without
Cause” or “Resignation for Good Reason,” provided that any such termination is a “separation from service” within the meaning of Treasury Regulation
Section 1.409A-1(h) or Executive’s death. Disability, other than a Permanent Disability, shall not be deemed Covered Terminations. 

6.9.    “Covered Termination Benefits Period” means the period of thirty-six (36) months commencing on the Termination Date. 

6.10.    “Covered Termination Severance Period” means the period of thirty-six (36) months commencing on the Termination Date. 

6.11.    “Involuntary Termination Without Cause” means Executive’s dismissal or
discharge by the Company for reasons other than Cause and other than as a result of death or disability; provided, however, that for purposes of a Covered Termination, Involuntary Termination Without Cause shall include
Executive’s dismissal or discharge by the Company for reasons of Permanent Disability. 

6.12.    “IPO” means the Company’s first firm commitment underwritten public offering
of its common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended. 

  
 11 

 6.13.    “Monthly Base Salary” means 1/12th of Executive’s Annual Base Salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Covered
Termination. 
 6.14.    “Permanent Disability” means total and permanent disability as
defined in Code Section 22(e)(3). 
 6.15.    “Pro-Rata
Bonus” means 1/12th of the Target Performance Bonus paid to Executive for the calendar year preceding the calendar year in which a Covered Termination occurs. 

6.16.    “Resignation for Good Reason” means Executive’s resignation from all employee
positions Executive then holds with the Company within ninety (90) days following any of the following events taken without Executive’s consent, provided Executive has given the Company written notice of such event within thirty
(30) days after the first occurrence of such event and the Company has not cured such event within thirty (30) days thereafter: 

a)    A material decrease in Executive’s Annual Base Salary, other than in connection with a decrease in compensation
for all comparable executives of the Company; 
 b)    Executive’s duties or responsibilities are materially
diminished (not simply a change in title or reporting relationships); provided that Executive shall not be deemed to have a “Resignation for Good Reason” if the Company survives as a separate legal entity or business unit
following the Change in Control and Executive holds materially the same position in such legal entity or business unit as Executive held before the Change in Control; 

c)    A relocation of Executive’s principal place of work outside of a fifty (50) mile radius of its current
location; or 
 d)    The Company’s material breach of this Agreement. 

6.17.    “Termination Date” means the effective date of a Covered Termination, a
termination for Cause or any other circumstance under which the employment relationship between Executive and the Company terminates, as applicable. 

7. GENERAL PROVISIONS 

7.1.    Employment Status. This Agreement does not constitute a contract of employment or impose upon
Executive any obligation to remain as an employee, or impose on the Company any obligation (i) to retain Executive as an employee, (ii) to change the status of Executive as an at-will employee or
(iii) to change the Company’s policies regarding termination of employment. 
 7.2.    Notices.
Any notices provided hereunder must be in writing, and such notices or any other written communication shall be deemed effective upon the earlier of personal delivery (including personal delivery by facsimile or email transmission (to a facsimile
number or email address designated in advance by the receiving party)) or the third day after mailing by first class mail, to the Company at its primary office location and to Executive at Executive’s address as listed in the Company’s
payroll records. Any payments made by the Company to Executive under the terms of this Agreement shall be delivered to Executive either in person or at the address as listed in the Company’s payroll records. 

7.3.    Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement is determined to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any 

  
 12 

 
jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, and the provision in question shall be modified so as to be rendered
enforceable in a manner consistent with the intent of the parties insofar as possible under applicable law. 

7.4.    Waiver. If either party should waive any breach of any provisions of this Agreement, he, she or it
shall not thereby be deemed to have waived any preceding or succeeding breach of the same or any other provision of this Agreement. 

7.5.    Complete Agreement. This Agreement, together with Exhibits A and B, the
Confidentiality Agreement and the Indemnification Agreement, forms the complete and exclusive statement of Executive’s employment agreement with the Company, and supersedes and replaces any other agreements or promises made to Executive by
anyone, whether oral or written (including but not limited to the Prior Agreement). 
 7.6.    Amendment or
Termination of Agreement; Continuation of Agreement. Except for those changes expressly reserved to the Company’s or the Board’s discretion in this Agreement, this Agreement may be changed or terminated only upon the mutual written
consent of the Company and Executive. The written consent of the Company to a change or termination of this Agreement must be signed by an executive officer of the Company (other than Executive) after such change or termination has been approved by
the Board. Unless so terminated, this Agreement shall continue in effect for as long as Executive continues to be employed by the Company or by any surviving entity following any Change in Control. 

7.7.    Counterparts. This Agreement may be executed in separate counterparts, any one of which need not
contain signatures of more than one party, but all of which taken together will constitute one and the same Agreement. Facsimile and electronic image copies of signatures shall be equivalent to original signatures. 

7.8.    Headings. The headings of the Sections hereof are inserted for convenience only and shall not be
deemed to constitute a part hereof nor to affect the meaning thereof. 
 7.9.    Successors and Assigns.
This Agreement is intended to bind and inure to the benefit of and be enforceable by Executive, and the Company, and any surviving entity resulting from a Change in Control and upon any other person who is a successor by merger, acquisition,
consolidation or otherwise to the business formerly carried on by the Company, and their respective successors, assigns, heirs, executors and administrators, without regard to whether or not such person actively assumes any rights or duties
hereunder; provided, however, that Executive may not assign any duties hereunder and may not assign any rights hereunder without the written consent of the Company, which consent shall not be withheld unreasonably. 

7.10.    Choice of Law. This Agreement shall be construed and enforced in accordance with the laws of the
State of New York without regard to conflicts of law principles.
 7.11.    Arbitration. To ensure the
rapid and economical resolution of any disputes that may arise under or relate to this Agreement or Executive’s employment relationship, Executive and the Company agree that any and all disputes, claims, or causes of action, in law or equity,
arising from or relating to the performance, enforcement, execution, or interpretation of this Agreement, Executive’s employment with the Company, or the termination of Executive’s employment (collectively,
“Claims”), shall be resolved by final, binding, and (to the extent permitted by law) confidential arbitration before a single arbitrator in New York, New York. The arbitration shall be governed by the Federal Arbitration

  
 13 

 
Act, 9 U.S.C. Section 1 et seq., as amended, and shall be administered by the Judicial Arbitration & Mediation Services, Inc. (“JAMS”), in accordance
with its then-current Employment Arbitration Rules & Procedures (the “JAMS Rules”). The JAMS Rules are available online at http://www.jamsadr.com/rules-employment-arbitration/. The parties or their
representatives may also call JAMS at 800.352.5267 if they have questions about the arbitration process. If the JAMS Rules are inconsistent with the terms of this Agreement, the terms of this Agreement shall govern. Notwithstanding the
foregoing, this provision shall exclude Claims that by law are not subject to arbitration. The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of all Claims and to award such relief as would
otherwise be permitted by law; and (b) issue a written arbitration decision including the arbitrator’s essential findings and conclusions and a statement of the award. The Company shall pay all JAMS fees in excess of the amount of
filing and other court-related fees Executive would have been required to pay if the Claims were asserted in a court of law. EXECUTIVE AND THE COMPANY UNDERSTAND AND FULLY AGREE THAT BY ENTERING INTO THIS AGREEMENT, BOTH EXECUTIVE AND THE
COMPANY ARE GIVING UP THE CONSTITUTIONAL RIGHT TO HAVE A TRIAL BY JURY, AND ARE GIVING UP THE NORMAL RIGHTS OF APPEAL FOLLOWING THE RENDERING OF A DECISION, EXCEPT AS THE FEDERAL ARBITRATION ACT AND APPLICABLE FEDERAL LAW ALLOW FOR JUDICIAL REVIEW
OF ARBITRATION PROCEEDINGS. Nothing in this Agreement shall prevent either Executive or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Any awards or final
orders in such arbitrations may be entered and enforced as judgments or orders in the federal and state courts of any competent jurisdiction in compliance with Section 7.11 of this Agreement. 

7.12.    Construction of Agreement. In the event of a conflict between the text of this Agreement and any
summary, description or other information regarding this Agreement, the text of this Agreement shall control. 

7.13.    Circular 230 Disclaimer. THE FOLLOWING DISCLAIMER IS PROVIDED IN ACCORDANCE WITH THE INTERNAL REVENUE
SERVICE’S CIRCULAR 230 (21 C.F.R. PART 10). ANY TAX ADVICE CONTAINED IN THIS AGREEMENT IS INTENDED TO BE PRELIMINARY, FOR DISCUSSION PURPOSES ONLY AND NOT FINAL. ANY SUCH ADVICE IS NOT INTENDED TO BE USED FOR MARKETING, PROMOTING OR
RECOMMENDING ANY TRANSACTION OR FOR THE USE OF ANY PERSON IN CONNECTION WITH THE PREPARATION OF ANY TAX RETURN. ACCORDINGLY, THIS ADVICE IS NOT INTENDED OR WRITTEN TO BE USED, AND IT CANNOT BE USED, BY ANY PERSON FOR THE PURPOSE OF AVOIDING TAX
PENALTIES THAT MAY BE IMPOSED ON SUCH PERSON. 
 [Signature Page Follows] 

  
 14 

 REVIEWED, UNDERSTOOD AND ACCEPTED: 

 

									
	OVID THERAPEUTICS INC.	 		 		 	EXECUTIVE
					
	By:	 	 /s/ Yaron Werber
	 		 	By:	 	 /s/ Jeremy Levin

	Name:	 	Yaron Werber	 		 	Name:	 	Jeremy Levin
	Title:	 	Chief Business and Financial Officer

 Exhibit A:        Release (Individual Termination – Age 40 or Older)  

Exhibit B:        Release (Group Termination – Age 40 or Older) 

 EXHIBIT A 

RELEASE 
 (INDIVIDUAL
TERMINATION – AGE 40 OR OLDER) 
 Certain capitalized terms used in this Release are defined in the Amended and Restated Executive
Employment Agreement between me and Ovid Therapeutics Inc. (the “Company”) (the “Agreement”), which I have executed and of which this Release is a part. 

I hereby acknowledge and reaffirm my continuing obligations under the Confidentiality Agreement. 

In exchange for the consideration provided to me under the Agreement, to which I would not otherwise be entitled, I hereby generally and
completely release the Company, its parents and subsidiaries, and its and their current and former officers, directors, agents, servants, employees, shareholders, partners, attorneys, insurers, predecessors, successors, assigns and affiliates
(collectively, the “Released Parties”) from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct or omissions occurring prior to or on
the date I sign this Release (collectively, the “Released Claims”). The Released Claims include but are not limited to: (A) all claims arising out of or in any way related to my employment with the Company, or the
termination of that employment; (B) all claims related to compensation or benefits from the Company, including salary, bonuses, commissions, vacation, paid time off, expense reimbursements, severance pay, fringe benefits, stock, stock options,
or any other ownership, equity or profits interests in the Company; (C) all claims for breach of contract, wrongful termination and breach of the implied covenant of good faith and fair dealing; (D) all tort claims, including claims for
fraud, defamation, emotional distress and discharge in violation of public policy; and (E) all federal, state and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees or other claims arising
under the federal Civil Rights Act of 1964, the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (the “ADEA”), the New York Human Rights Laws, the New York City Human
Rights Law, the New York Civil Rights Act, the New York Minimum Wage Law, the Equal Pay Law for New York, the Massachusetts Wage Act and the Massachusetts Fair Employment Practices Act. 

I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under the ADEA, and that the consideration given
for the waiver and release in this Release is in addition to anything of value to which I am already entitled. I further acknowledge that I have been advised, as required by the ADEA, that: (A) my waiver and release do not apply to any rights
or claims that may arise after the date that I sign this Release; (B) I should consult with an attorney prior to signing this Release (although I may choose voluntarily to sign it earlier); (C) I have
twenty-one (21) days to consider this Release (although I may choose voluntarily to sign it earlier); (D) I have seven (7) days following the date I sign this Release to revoke it (by providing
written notice of my revocation to the Company’s Board of Directors); and (E) this Release shall not be effective until the date upon which the revocation period has expired, which shall be the eighth (8th) day after the date that I
sign this Release provided that I do not revoke it. 
 I UNDERSTAND THAT THIS RELEASE INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS,
EVEN THOSE CLAIMS THAT, IF KNOWN BY ME, WOULD AFFECT MY DECISION TO ACCEPT THIS AGREEMENT. In giving the releases set forth in this 

  
 A-1 

 
Release, which include claims which may be unknown to me at present, I hereby expressly waive and relinquish all rights and benefits under any law or legal principle of similar effect in any
jurisdiction with respect to my release of claims herein, including but not limited to the release of unknown and unsuspected claims. 

Notwithstanding the foregoing, I understand that the following are not included in the Released Claims (the “Excluded
Claims”): (i) any rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company to which I am a party or under applicable law; (ii) any rights which cannot be waived
as a matter of law; (iii) any rights I have to file or pursue a claim for workers’ compensation or unemployment insurance; and (iv) any claims for breach of this Agreement. In addition, nothing in this Release shall prevent me from
filing, cooperating with or participating in any proceeding before any federal, state or other government agency, except that I acknowledge and agree and hereby waive my right to any monetary benefits in connection with any such claim, charge or
proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or any analogous federal, state or other government agency with regard to any claim released herein. I represent that, other than the Excluded Claims, I am
not aware of any claims I have or might have against any of the Released Parties that are not included in the Released Claims. 
 I hereby
represent that I have been paid all compensation owed and for all time worked; I have received all the leave and leave benefits and protections for which I am eligible pursuant to the federal Family and Medical Leave Act, any applicable law or
Company policy; and I have not suffered any on-the-job injury or illness for which I have not already filed a workers’ compensation claim. 

I agree not to disparage the Company, and the Company’s officers, directors, employees, shareholder, members and agents, in any manner
likely to be harmful to them or their business, business reputation or personal reputation. Similarly, I understand that the Company agrees to direct its directors and officers not to disparage me in any manner likely to be harmful to my business
reputation or personal reputation. Nothing in this provision, however, shall prevent either me or the Company from responding accurately and fully to any request for information if required by legal process or in connection with a government
investigation. In addition, nothing in this provision or this Release is intended to prohibit or restrain me in any manner from making disclosures that are protected under the whistleblower provisions of federal law or regulation or under other
applicable law or regulation. 
  

	
	EXECUTIVE:
	
	  
 Signature

	
	  
 Printed Name

	
	 Date:

  
 A-2 

 EXHIBIT B 

RELEASE 
 (GROUP
TERMINATION – AGE 40 OR OLDER) 
 Certain capitalized terms used in this Release are defined in the Amended and Restated Executive
Employment Agreement between me and Ovid Therapeutics Inc. (the “Company”) dated (the “Agreement”), which I have executed and of which this Release is a part. 

I hereby acknowledge and reaffirm my continuing obligations under the Confidentiality Agreement. 

In exchange for the consideration provided to me under the Agreement, to which I would not otherwise be entitled, I hereby generally and
completely release the Company, its parents and subsidiaries, and its and their current and former officers, directors, agents, servants, employees, shareholders, partners, attorneys, insurers, predecessors, successors, assigns and affiliates
(collectively, the “Released Parties”) from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct or omissions occurring prior to or on
the date I sign this Release (collectively, the “Released Claims”). The Released Claims include but are not limited to: (A) all claims arising out of or in any way related to my employment with the Company, or the
termination of that employment; (B) all claims related to compensation or benefits from the Company, including salary, bonuses, commissions, vacation, paid time off, expense reimbursements, severance pay, fringe benefits, stock, stock options,
or any other ownership, equity or profits interests in the Company; (C) all claims for breach of contract, wrongful termination and breach of the implied covenant of good faith and fair dealing; (D) all tort claims, including claims for
fraud, defamation, emotional distress and discharge in violation of public policy; and (E) all federal, state and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees or other claims arising
under the federal Civil Rights Act of 1964, the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (the “ADEA”), the New York Human Rights Laws, the New York City Human
Rights Law, the New York Civil Rights Act, the New York Minimum Wage Law, the Equal Pay Law for New York, the Massachusetts Wage Act and the Massachusetts Fair Employment Practices Act. 

I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under the ADEA, and that the consideration given
for the waiver and release in this Release is in addition to anything of value to which I am already entitled. I further acknowledge that I have been advised, as required by the ADEA, that: (A) my waiver and release do not apply to any rights
or claims that may arise after the date that I sign this Release; (B) I should consult with an attorney prior to signing this Release (although I may choose voluntarily to sign it earlier); (C) I have forty-five (45) days to consider
this Release (although I may choose voluntarily to sign it earlier); (D) I have seven (7) days following the date I sign this Release to revoke it (by providing written notice of my revocation to the Company’s Board of Directors); and
(E) this Release shall not be effective until the date upon which the revocation period has expired, which shall be the eighth (8th) day after the date that I sign this Release provided that I do not revoke it. I further acknowledge that
the Company has provided me with ADEA disclosure information (under 29 U.S.C. § 626(f)(1)(H)). 
 I UNDERSTAND THAT THIS RELEASE
INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS, EVEN THOSE CLAIMS THAT, IF KNOWN BY ME, WOULD 

  
 B-1 

 
AFFECT MY DECISION TO ACCEPT THIS AGREEMENT. In giving the releases set forth in this Release, which include claims which may be unknown to me at present, I hereby expressly waive and
relinquish all rights and benefits under any law or legal principle of similar effect in any jurisdiction with respect to my release of claims herein, including but not limited to the release of unknown and unsuspected claims. 

Notwithstanding the foregoing, I understand that the following are not included in the Released Claims (the “Excluded
Claims”): (i) any rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company to which I am a party or under applicable law; (ii) any rights which cannot be waived
as a matter of law; (iii) any rights I have to file or pursue a claim for workers’ compensation or unemployment insurance; and (iv) any claims for breach of this Agreement. In addition, nothing in this Release shall prevent me from
filing, cooperating with or participating in any proceeding before any federal, state or other government agency, except that I acknowledge and agree and hereby waive my right to any monetary benefits in connection with any such claim, charge or
proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or any analogous federal, state or other government agency with regard to any claim released herein. I represent that, other than the Excluded Claims, I am
not aware of any claims I have or might have against any of the Released Parties that are not included in the Released Claims. 
 I hereby
represent that I have been paid all compensation owed and for all time worked; I have received all the leave and leave benefits and protections for which I am eligible pursuant to the federal Family and Medical Leave Act, any applicable law or
Company policy; and I have not suffered any on-the-job injury or illness for which I have not already filed a workers’ compensation claim. 

I agree not to disparage the Company, and the Company’s officers, directors, employees, shareholder, members and agents, in any manner
likely to be harmful to them or their business, business reputation or personal reputation. Similarly, I understand that the Company agrees to direct its directors and officers not to disparage me in any manner likely to be harmful to my business
reputation or personal reputation. Nothing in this provision, however, shall prevent either me or the Company from responding accurately and fully to any request for information if required by legal process or in connection with a government
investigation. In addition, nothing in this provision or this Release is intended to prohibit or restrain me in any manner from making disclosures that are protected under the whistleblower provisions of federal law or regulation or under other
applicable law or regulation. 
  

	
	EXECUTIVE:
	
	  
 Signature

	
	  
 Printed Name

	
	 Date:

  
 B-2

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