Document:

2005 Stock Plan of the Registrant

 Exhibit 10.5 
  
 AKESIS PHARMACEUTICALS, INC. 
  

2005 STOCK PLAN 
  
 1. Purposes of the Plan. The purposes of this 2005 Stock Plan are: 
  

	 	•	 	to attract and retain the best available personnel for positions of substantial responsibility, 

  

	 	•	 	to provide additional incentive to Employees, Directors and Consultants, and 

  

	 	•	 	to promote the success of the Company’s business. 

  
 Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options, as determined by the Administrator at the time of grant.
Stock Purchase Rights may also be granted under the Plan 
  
 2.
Definitions. As used herein, the following definitions shall apply: 
  
 (a) “Administrator” means the Board or any of its Committees as shall be administering the Plan, in accordance with Section 4 of the Plan. 
  
 (b) “Applicable Laws” means the requirements relating to the administration of stock option plans under
U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where Options or Stock
Purchase Rights are, or will be, granted under the Plan. 
  
 (c)
“Board” means the Board of Directors of the Company. 
  
 (d) “Change in Control” means the occurrence of any of the following events: 
  
 (i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in
Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities; or 
  
 (ii) A change in the composition of the Board occurring within a two-year
period, as a result of which fewer than a majority of the Directors are Incumbent Directors. “Incumbent Directors” will mean Directors who either (A) are Directors of the Company as of the date hereof, or (B) are elected, or nominated for
election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but will not include an individual whose election or nomination is in connection with an actual or
threatened proxy contest relating to the election of Directors to the Company); or 

 (iii) The consummation of the sale or disposition by the Company of all or substantially all of the
Company’s assets; or 
  
 (iv) The consummation of a merger
or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent
outstanding immediately after such merger or consolidation. 
  
 (e) “Code” means the Internal Revenue Code of 1986, as amended. 
  
 (f) “Committee” means a committee of Directors appointed by the Board in accordance with Section 4 of the Plan. 
  

(g) “Common Stock” means the common stock of the Company. 
  
 (h) “Company” means Akesis Pharmaceuticals, Inc., a Nevada corporation. 
  
 (i) “Consultant” means any person, including an advisor,
engaged by the Company or a Parent or Subsidiary to render services to such entity. 
  
 (j) “Director” means a member of the Board. 
  
 (k) “Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code. 
  
 (l) “Employee” means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. A
Service Provider shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, any Subsidiary, or any successor. For purposes
of Incentive Stock Options, no such leave may exceed ninety (90) days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so
guaranteed, then three (3) months following the 91st day of such leave, any Incentive Stock Option held by the
Optionee shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonstatutory Stock Option. Neither service as a Director nor payment of a director’s fee by the Company shall be sufficient to constitute
“employment” by the Company. 
  
 (m) “Exchange
Act” means the Securities Exchange Act of 1934, as amended. 
  
 (n) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 
  
 (i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq National Market
or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price 
  

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 for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the day of
determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
  
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share of
Common Stock shall be the mean between the high bid and low asked prices for the Common Stock on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
  
 (iii) In the absence of an established market for the Common Stock, the Fair
Market Value shall be determined in good faith by the Administrator. 
  
 (o) “Incentive Stock Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 
  
 (p) “Nonstatutory Stock Option” means an Option not intended
to qualify as an Incentive Stock Option. 
  
 (q) “Notice
of Grant” means a written or electronic notice evidencing certain terms and conditions of an individual Option or Stock Purchase Right grant. The Notice of Grant is part of the Option Agreement. 
  
 (r) “Officer” means a person who is an officer of the
Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
  
 (s) “Option” means a stock option granted pursuant to the Plan. 
  
 (t) “Option Agreement” means an agreement between the Company and an Optionee evidencing the terms and
conditions of an individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan. 
  
 (u) “Optioned Stock” means the Common Stock subject to an Option or a Stock Purchase Right. 
  
 (v) “Optionee” means the holder of an outstanding Option or
Stock Purchase Right granted under the Plan. 
  
 (w)
“Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of the Code. 
  
 (x) “Plan” means this 2005 Stock Plan. 
  
 (y) “Restricted Stock” means shares of Common Stock acquired pursuant to a grant of Stock Purchase Rights under Section 11 of the Plan or
pursuant to the early exercise of an Option. 
  

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 (z) “Restricted Stock Purchase Agreement” means a written agreement between the Company
and the Optionee evidencing the terms and restrictions applying to stock purchased under a Stock Purchase Right. The Restricted Stock Purchase Agreement is subject to the terms and conditions of the Plan and the Notice of Grant. 
  
 (aa) “Rule 16b-3” means Rule 16b-3 of the Exchange Act or
any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan. 
  
 (bb) “Section 16(b)” means Section 16(b) of the Exchange Act. 
  
 (cc) “Securities Act” means the Securities Act of 1933, as amended. 
  
 (dd) “Service Provider” means an Employee, Director or
Consultant. 
  
 (ee) “Share” means a share of the
Common Stock, as adjusted in accordance with Section 13 of the Plan. 
  
 (ff) “Stock Purchase Right” means the right to purchase Common Stock pursuant to Section 11 of the Plan, as evidenced by a Notice of Grant. 
  
 (gg) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined
in Section 424(f) of the Code. 
  
 3. Stock Subject to the
Plan. Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be subject to Options or Stock Purchase Rights and sold under the Plan is 1,500,000. The Shares may be authorized, but unissued, or
reacquired Common Stock. 
  
 If an Option or a Stock Purchase
Right expires or becomes unexercisable without having been exercised in full, the unpurchased Shares which were subject thereto shall become available for future grant or sale under the Plan (unless the Plan has terminated); provided,
however, that Shares that have actually been issued under the Plan shall not be returned to the Plan and shall not become available for future distribution under the Plan, except that if Shares of Restricted Stock are repurchased by the Company at
their original purchase price, such Shares shall become available for future grant under the Plan. 
  
 4. Administration of the Plan. 
  
 (a) Procedure. 
  
 (i) Multiple Administrative Bodies. Different Committees with respect to different groups of Service Providers may administer the Plan.

  
 (ii) Section 162(m). To the extent that the
Administrator determines it to be desirable to qualify Options or Stock Purchase Rights granted hereunder as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan shall be administered by a Committee
of two (2) or more outside Directors within the meaning of Section 162(m) of the Code. 
  

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 (iii) Rule 16b-3. To the extent desirable to qualify transactions hereunder as exempt under Rule
16b-3, the transactions contemplated hereunder shall be structured to satisfy the requirements for exemption under Rule 16b-3. 
  
 (iv) Other Administration. Other than as provided above, the Plan shall be administered by (A) the Board or (B) a Committee, which Committee shall
be constituted to satisfy Applicable Laws. 
  
 (b) Powers of
the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator shall have the authority, in its discretion: 
  
 (i) to determine the Fair Market Value; 
  
 (ii) to select the Service Providers to whom Options and Stock Purchase
Rights may be granted hereunder; 
  
 (iii) to determine the
number of shares of Common Stock to be covered by each Option or Stock Purchase Right granted hereunder; 
  
 (iv) to approve forms of agreement for use under the Plan; 
  
 (v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Option or Stock Purchase Right granted hereunder. Such
terms and conditions include, but are not limited to, the exercise price, the time or times when Options or Stock Purchase Rights may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture
restrictions, and any restriction or limitation regarding any Option or Stock Purchase Right or the Common Stock relating thereto, based in each case on such factors as the Administrator, in its sole discretion, shall determine; 
  
 (vi) to construe and interpret the terms of the Plan and awards granted
pursuant to the Plan; 
  
 (vii) to establish, amend and rescind
rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws; 
  
 (viii) to modify or amend each Option or Stock Purchase Right (subject to Section 15(c) of the Plan), including the
discretionary authority to extend the post-termination exercisability period of Options or Stock Purchase Rights longer than is otherwise provided for in the Plan; 
  
 (ix) to allow Optionees to satisfy withholding tax obligations by electing to have the Company withhold from the Shares to
be issued upon exercise of an Option or Stock Purchase Right that number of Shares having a Fair Market Value equal to the minimum amount required to be withheld. The Fair Market Value of the Shares to be withheld shall be determined on the date
that the amount of tax to be withheld is to be determined. All elections by an Optionee to have Shares withheld for this purpose shall be made in such form and under such conditions as the Administrator may deem necessary or advisable; 

 

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 (x) to authorize any person to execute on behalf of the Company any instrument required to effect the
grant of an Option or Stock Purchase Right previously granted by the Administrator; 
  
 (xi) to correct any defect, supply any omission, or reconcile any inconsistency in the Plan, or in any Option Agreement or Restricted Stock Purchase Agreement, in a manner and to the extent it shall deem necessary,
all of which determinations and interpretations made by the Administrator shall be conclusive and binding on all Optionees, any other holders of Options or Stock Purchase Rights and on their legal representatives and beneficiaries; and 

 
 (xii) except to the extent prohibited by, or impermissible in order to
obtain treatment desired by the Administrator under, applicable law or rule, to allocate or delegate all or any portion of its powers and responsibilities to any one or more of its members or to any person(s) selected by it, subject to revocation or
modification by the Administrator of such allocation or delegation. 
  
 (xiii) to make all other determinations deemed necessary or advisable for administering the Plan. 
  
 (c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations shall be final and binding on
all Optionees and any other holders of Options or Stock Purchase Rights. 
  
 5. Eligibility. Nonstatutory Stock Options and Stock Purchase Rights may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 
  
 6. Limitations. 
  
 (a) Each Option shall be designated in the Option Agreement as either an
Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by
the Optionee during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds $100,000, such Options shall be treated as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options shall be
taken into account in the order in which they were granted. The Fair Market Value of the Shares shall be determined as of the time the Option with respect to such Shares is granted. 
  
 (b) The following limitations will apply to grants of Options and Stock Appreciation Rights: 
  
 (i) No Service Provider will be granted, in any calendar year, Options to
purchase more than 300,000 Shares. 
  

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 (ii) In connection with his or her initial service, a Service Provider may be granted Options to
purchase up to an additional 500,000 Shares, which will not count against the limit set forth in Section 6(a)(2)(ii)(1) above. 
  
 (iii) The foregoing limitations will be adjusted proportionately in connection with any change in the Company’s capitalization as described in
Section 13. 
  
 (iv) If an Option, as applicable, is cancelled in
the same calendar year in which it was granted (other than in connection with a transaction described in Section 13), the cancelled Option will be counted against the limits set forth in subsections (1) and (2) above. For this purpose, if the
exercise price of an Option is reduced, the transaction will be treated as a cancellation of the Option and the grant of a new Option. 
  
 (c) Neither the Plan nor any Option or Stock Purchase Right shall confer upon an Optionee any right with respect to continuing the Optionee’s
relationship as a Service Provider with the Company, nor shall they interfere in any way with the Optionee’s right or the Company’s right to terminate such relationship at any time, with or without cause. 
  
 7. Term of Plan. Subject to Section 19 of the Plan, the Plan shall
become effective upon its adoption by the Board. It shall continue in effect for a term of ten (10) years unless terminated earlier under Section 15 of the Plan. 
  
 8. Term of Option. The term of each Option shall be stated in the Option Agreement, provided, however, that the term
shall be no more than ten (10) years from the date of the grant thereof. Moreover, in the case of an Incentive Stock Option granted to an Optionee who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent
(10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option shall be five (5) years from the date of grant or such shorter term as may be provided in the Option
Agreement. 
  
 9. Option Exercise Price and Consideration.

  
 (a) Exercise Price. The per share exercise price for
the Shares to be issued upon exercise of an Option shall be such price as is determined by the Administrator, but shall be subject to the following: 
  
 (i) In the case of an Incentive Stock Option 
  
 (1) granted to an Employee who, at the time of grant of such Option, owns stock representing more than ten percent (10%) of the voting power of all
classes of stock of the Company or any Parent or Subsidiary, the exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. 
  
 (2) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per
Share on the date of grant. 
  
 (ii) In the case of a
Nonstatutory Stock Option 
  

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 (1) granted to a Service Provider who, at the time of grant of such Option, owns stock representing more
than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. 
  
 (2) granted to any other Service Provider, the per Share exercise price
shall be no less than eighty-five percent (85%) of the Fair Market Value per Share on the date of grant. 
  
 (iii) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other than as required above in accordance with and pursuant
to a transaction described in Section 424 of the Code. 
  
 (b)
Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator shall fix the period within which the Option may be exercised and shall determine any conditions that must be satisfied before the Option may be exercised.

  
 (c) Form of Consideration. The Administrator shall
determine the acceptable form of consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator shall determine the acceptable form of consideration at the time of grant. Such
consideration may consist of (without limitation): 
  
 (i) cash;

  
 (ii) check; 
  
 (iii) other Shares, provided Shares acquired directly or indirectly from the
Company, (A) have been owned by the Optionee for more than six (6) months on the date of surrender, and (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be
exercised; 
  
 (iv) consideration received by the Company under a
cashless exercise program implemented by the Company in connection with the Plan; 
  
 (v) a reduction in the amount of any Company liability to the Optionee, including any liability attributable to the Optionee’s participation in any Company-sponsored deferred compensation program or arrangement;

  
 (vi) any combination of the foregoing methods of payment; or

  
 (vii) such other consideration and method of payment for the
issuance of Shares to the extent permitted by Applicable Laws. 
  
 10. Exercise of Option. 
  
 (a) Procedure for
Exercise; Rights as a Stockholder. Any Option granted hereunder shall be exercisable according to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Option Agreement. Unless
the 
  

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 Administrator provides otherwise, vesting of Options granted hereunder shall be suspended during any unpaid leave of
absence. An Option may not be exercised for a fraction of a Share. Except in the case of Options granted to Officers, Directors and Consultants, Options shall become exercisable at a rate of no less than twenty percent (20%) per year over five (5)
years from the date the Options are granted. 
  
 An Option shall
be deemed exercised when the Company receives: (i) written or electronic notice of exercise (in accordance with the Option Agreement) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the
Option is exercised. Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Option Agreement and the Plan. Shares issued upon exercise of an Option shall be issued in the name of the
Optionee or, if requested by the Optionee, in the name of the Optionee and his or her spouse or in the name of a family trust of which the Optionee is a trustee. Until the Shares are issued (as evidenced by the appropriate entry on the books of the
Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Company shall
issue (or cause to be issued) such Shares promptly after the Option is exercised; provided that if the Company shall be advised by counsel that certain requirements under the Federal, state or foreign securities laws must be met before Shares may be
issued under this Plan, the Company shall notify all persons who have been issued Options, and the Company shall have no liability for failure to issue Shares under any exercise of Options because of delay while such requirements are being met or
the inability of the Company to comply with such requirements. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan. 

 
 Exercising an Option in any manner shall decrease the number of Shares
thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 
  
 (b) Termination of Relationship as a Service Provider. . If an Optionee ceases to be a Service Provider, such Optionee may exercise his or her
Option within thirty (30) days of termination, or such longer period of time as specified in the Option Agreement, to the extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of the
Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for three (3) months following the Optionee’s termination. If, on the date of termination, the
Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or her Option within the time specified by the
Administrator, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 
  
 (c) Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, the Optionee may exercise
his or her Option within six (6) months of termination, or such longer period of time as specified in the Option Agreement, to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of the
Option as set forth in the Option Agreement). In the absence of a specified time in the Option 
  

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 Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s termination. If, on
the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or her Option within the
time specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 
  
 (d) Death of Optionee. If an Optionee dies while a Service Provider, the Option may be exercised following the Optionee’s death within six (6)
months of termination, or such longer period of time as specified in the Option Agreement, to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of the Option as set forth in the Option
Agreement), by the Optionee’s designated beneficiary, provided such beneficiary has been designated prior to the Optionee’s death in a form acceptable to the Administrator. If no such beneficiary has been designated by the Optionee, then
such Option may be exercised by the personal representative of the Optionee’s estate or by the person(s) to whom the Option is transferred pursuant to the Optionee’s will or in accordance with the laws of descent and distribution. In the
absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s death. If, at the time of death, the Optionee is not vested as to his or her entire Option, the Shares
covered by the unvested portion of the Option shall immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan.

  
 11. Stock Purchase Rights. 
  
 (a) Rights to Purchase. Stock Purchase Rights may be issued either
alone, in addition to, or in tandem with other awards granted under the Plan and/or cash awards made outside of the Plan. After the Administrator determines that it will offer Stock Purchase Rights under the Plan, it shall advise the offeree in
writing or electronically, by means of a Notice of Grant, of the terms, conditions and restrictions related to the offer, including the number of Shares that the offeree shall be entitled to purchase, the price to be paid, and the time within which
the offeree must accept such offer. The terms of the offer shall comply in all respects with Section 260.140.42 of Title 10 of the California Code of Regulations. The offer shall be accepted by execution of a Restricted Stock Purchase Agreement in
the form determined by the Administrator. 
  
 (b) Repurchase
Option. Unless the Administrator determines otherwise, the Restricted Stock Purchase Agreement shall grant the Company a repurchase option exercisable within ninety (90) days of the voluntary or involuntary termination of the purchaser’s
service with the Company for any reason (including death or Disability). Unless the Administrator provides otherwise, the purchase price for Shares repurchased pursuant to the Restricted Stock Purchase Agreement shall be the original price paid by
the purchaser and may be paid by cancellation of any indebtedness of the purchaser to the Company. The repurchase option shall lapse at such rate as the Administrator may determine. Except with respect to Shares purchased by Officers, Directors and
Consultants, the repurchase option shall in no case lapse at a rate of less than twenty percent (20%) per year over five (5) years from the date of purchase. 
  
 (c) Other Provisions. The Restricted Stock Purchase Agreement shall contain such other terms, provisions and conditions not inconsistent with the
Plan as may be determined by the Administrator in its sole discretion. 
  

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 (d) Rights as a Stockholder. Once the Stock Purchase Right is exercised, the purchaser shall have
the rights equivalent to those of a stockholder, and shall be a stockholder when his or her purchase is entered upon the records of the duly authorized transfer agent of the Company. No adjustment will be made for a dividend or other right for which
the record date is prior to the date the Stock Purchase Right is exercised, except as provided in Section 13 of the Plan. 
  
 12. Transferability of Options and Stock Purchase Rights. Unless determined otherwise by the Administrator, an Option or Stock Purchase Right may
not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee. If the
Administrator, in its sole discretion, makes an Option or Stock Purchase Right transferable, such Option or Stock Purchase Right may only be transferred (i) by will, (ii) by the laws of descent and distribution, or (iii) to family members (within
the meaning of Rule 701 of the Securities Act) through gifts or domestic relations orders as permitted by Rule 701 of the Securities Act. 
  
 13. Adjustments Upon Changes in Capitalization, Dissolution, Merger or Change in Control. 
  
 (a) Changes in Capitalization. Subject to any required action by the
stockholders of the Company, the number of Shares of Common Stock that have been authorized for issuance under the Plan but as to which no Options or Stock Purchase Rights have yet been granted or which have been returned to the Plan upon
cancellation or expiration of an Option or Stock Purchase Right, as well as the price per share of Common Stock covered by each such outstanding Option or Stock Purchase Right, shall be proportionately adjusted for any increase or decrease in the
number of issued Shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, recapitalization, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares of
Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such
adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive, provided, however, that the Board shall make such adjustments to the extent required by Section 25102(o) of the California
Corporations Code. 
  
 (b) Dissolution or Liquidation. In
the event of the proposed dissolution or liquidation of the Company, the Administrator shall notify each Optionee as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion may provide for an
Optionee to have the right to exercise his or her Option or Stock Purchase Right until ten (10) days prior to such transaction as to all of the Optioned Stock covered thereby, including Shares as to which the Option or Stock Purchase Right would not
otherwise be exercisable. In addition, the Administrator may provide that any Company repurchase option applicable to any Shares purchased upon exercise of an Option or Stock Purchase Right shall lapse as to all such Shares, provided the proposed
dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously exercised, an Option or Stock Purchase Right will terminate immediately prior to the consummation of such proposed action.

  
 (c) Merger or Change in Control. In the event of a
merger of the Company with or into another corporation, or a Change in Control, each outstanding Option or Stock Purchase 
  

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 Right shall be treated as the Administrator determines, including, without limitation, that each Option or Stock Purchase
Right be assumed or an equivalent option or right substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. The Administrator shall not be required to treat all Options and Stock Purchase Rights similarly in
the transaction. 
  
 In the event that the successor corporation
not assume or substitute for the Option or Stock Purchase Right, unless the Administrator determines otherwise, the Optionee shall fully vest in and have the right to exercise the Option or Stock Purchase Right that is not assumed or substituted for
as to all of the Optioned Stock, including Shares as to which it would not otherwise be vested or exercisable. If the Administrator determines that an Option or Stock Purchase Right that is not assumed or substituted in connection with a merger or
Change in Control shall fully vest, the Administrator shall notify the Optionee in writing or electronically that the Option or Stock Purchase Right shall be fully vested and exercisable for a period of time the Administrator determines, and the
Option or Stock Purchase Right shall terminate upon the expiration of such period for no consideration, unless the Administrator determines otherwise. 
  
 For the purposes of this subsection (c), the Option or Stock Purchase Right shall be considered assumed if, following the merger or Change in Control,
the option or right confers the right to purchase or receive, for each Share subject to the Option or Stock Purchase Right immediately prior to the merger or Change in Control, the consideration (whether stock, cash, or other securities or property)
received in the merger or Change in Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority
of the outstanding Shares); provided, however, that if such consideration received in the merger or Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor
corporation, provide for the consideration to be received upon the exercise of the Option, for each Share subject to the Option or Stock Purchase Right, to be solely common stock of the successor corporation or its Parent equal in fair market value
to the per share consideration received by holders of Common Stock in the merger or Change in Control. 
  
 14. Date of Grant. The date of grant of an Option or Stock Purchase Right shall be, for all purposes, the date on which the Administrator makes the
determination granting such Option or Stock Purchase Right, or such other later date as is determined by the Administrator. Notice of the determination shall be provided to each Optionee within a reasonable time after the date of such grant.

  
 15. Amendment and Termination of the Plan. 

 
 (a) Amendment and Termination. The Board may at any time amend,
alter, suspend or terminate the Plan. 
  
 (b) Stockholder
Approval. The Board shall obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws and Section 15(c) below. 
  
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan or any Option
shall impair the rights of any Optionee, unless mutually 
  

 -12- 

 agreed otherwise between the Optionee and the Administrator, which agreement must be in writing and signed by the
Optionee and the Company. Termination of the Plan shall not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Options or Stock Purchase Rights granted under the Plan prior to the date of such
termination. 
  
 16. Conditions Upon Issuance of Shares.

  
 (a) Legal Compliance. Shares shall not be issued
pursuant to the exercise of an Option or Stock Purchase Right unless the exercise of such Option or Stock Purchase Right and the issuance and delivery of such Shares shall comply with Applicable Laws and shall be further subject to the approval of
counsel for the Company with respect to such compliance. 
  
 (b)
Investment Representations. As a condition to the exercise of an Option or Stock Purchase Right, the Administrator may require the person exercising such Option or Stock Purchase Right to represent and warrant at the time of any such exercise
that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required. 
  
 17. Inability to Obtain Authority. The inability of the Company to
obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of
the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 
  
 18. Reservation of Shares. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as shall
be sufficient to satisfy the requirements of the Plan. 
  
 19.
Stockholder Approval. The Plan shall be subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan is adopted. Such stockholder approval shall be obtained in the manner and to the degree required
under Applicable Laws. 
  
 20. Information to Optionees.
The Company shall provide to each Optionee and to each individual who acquires Shares pursuant to the Plan, not less frequently than annually during the period such Optionee has one or more Options or Stock Purchase Rights outstanding, and, in the
case of an individual who acquires Shares pursuant to the Plan, during the period such individual owns such Shares, copies of annual financial statements. The Company shall not be required to provide such statements to key employees whose duties in
connection with the Company assure their access to equivalent information. 
  

 -13-Scientific Advisory Agreement by and between the Company and Andrew Wolff

 Exhibit 10.52 
  
 SCIENTIFIC ADVISORY AGREEMENT 
  

This Agreement is made and entered into as of the 20th day of September, 2004 (the “Effective Date”) by and between CV Therapeutics, Inc., a
Delaware corporation (the “Company”), with an address at 3172 Porter Drive, Palo Alto, CA 94304, and Andrew Wolff, M.D., F.A.C.C, an individual, with an address at 2140 Taylor, # 803, San Francisco, CA 94133. 
  
 RECITAL 
  
 As part of its ongoing program of research and development, the Company desires to retain distinguished scientists and other
qualified individuals to advise the Company with respect to its technology strategy and to assist it in the research, development and analysis of the Company’s technology. In furtherance thereof, the Company and Andrew Wolff desire to enter
into this Agreement. 
  
 AGREEMENT 
  
 In consideration of the foregoing and the mutual promises contained in this
Agreement, I, Andrew Wolff, hereby agree with the Company as follows: 
  

	 	1.	Engagement of Services. 

  
 (a) The services (“Services”) that are the subject of this Agreement are described in Exhibit A attached hereto and
incorporated herein. All Services shall be at the request of the Company. I will perform the Services for the Company in good faith and to the best of my ability at places and times agreeable to the Company and myself. Notwithstanding the foregoing
definition of Services, the parties agree that nothing in this Agreement shall obligate me to perform any Services with respect to any Opt-Out Activity (as defined below), including without limitation, any program of research and/or development
relating thereto, and notwithstanding anything to the contrary herein, Services shall exclude any and all Opt-Out Activities. Prior to each proposed meeting of the Company’s Scientific Advisory Board or other activity requested by the Company
for my performance hereunder, the Company shall provide me with a written description detailing the subject matter of such meeting or activity. The Company agrees that I shall have the right, exerciseable in my sole discretion by providing
reasonable notice to the Company, to opt out the participation of any such meeting or activity (each from the time of such notice, an “Opt Out Activity”). The parties further agree that the Company’s Scientific Advisory Board meetings
and activities specifically directed to the research and development of the Company (on its own or with third parties) within the scope of the subject matter described in Exhibit C, attached hereto and incorporated herein, are not and shall
not be deemed to be Opt Out Activities for purposes of this Agreement and shall be deemed to be within the Services hereunder. The parties further agree that in order for me to be able to provide Services on the Company’s Scientific Advisory
Board as contemplated by this Agreement, the scope of Services hereunder shall include research and/or development programs disclosed to the Company’s Scientific Advisory 

  

 
Board, excepting only any Opt Out Activities (which are excluded from Services as provided above). 
  
 (b) (i) In consideration of the Services and other terms of
this Agreement, notwithstanding any vesting schedule set forth in any stock option agreements between me and the Company relating to the stock option grants listed on Exhibit B attached hereto and incorporated herein (collectively, the
“Stock Options”), I and the Company hereby agree as follows: (A) all such Stock Options shall become vested and exercisable for Two Hundred Forty Two Thousand Eight Hundred and Eleven (242,811) shares of common stock of the Company (the
“Vested Shares”) as of September 17, 2004, as shown on Exhibit B, and (B) with respect to such Vested Shares under the Stock Options, I shall have until ninety (90) days after the date of expiration or termination of this Agreement
in which to exercise such Stock Options with respect to all or any portion of such Vested Shares. The foregoing amends all stock option agreements between me and the Company relating to the Stock Options. There are no other outstanding stock option
grants between me and the Company, except as shown on Exhibit B. 
  
 (ii) I understand that in addition to the continued exercisability of the Stock Options as set forth above, the Company will pay me a Consultant’s fee at a rate of $1,000/day for up to ten (10) days per calendar
year for any Services authorized by the Company hereunder, and the Company will reimburse me for travel and other out-of-pocket costs reasonably incurred in the course of performing the Services under this Agreement; provided, however, that
the Company shall not be obligated hereunder unless (A) the Company has agreed in advance to authorize such Services and/or reimburse such costs, and (B) I provide the Company with appropriate receipts or other relevant documentation for all such
Services and/or costs as part of any submission for reimbursement. My Consultant’s fees for less than a full day shall be pro-rated on the basis of an eight-hour day. I will invoice the Company (attention: Accounts Payable) with all receipts
and other documentation related to such costs and expenses in connection with this Agreement. 
  
 (c) I understand that I am an independent contractor and not an employee of the Company. I agree that I have no authority to obligate the
Company by contract or otherwise. I understand I will not be eligible for any employee benefits, nor will the Company make deductions from my fees for taxes, and that taxes will be my responsibility alone. 
  

	 	2.	Non-Solicitation. 

  
 I agree that during the term of this Agreement, and for a period ending two (2) years after the date of termination of this Agreement, I
will not induce any employee of the Company to leave the employ of the Company; provided that nothing herein shall be construed to prohibit me from placing advertisements for employment that are aimed at the public at large in any newspaper, trade
magazine or other periodical in general circulation. 
  

	 	3.	Proprietary Information and Assignment. 

  
 (a) I understand that, in the course of performing Services hereunder during the term of this Agreement, I may produce, obtain, make known
or learn about certain information which has commercial value in the business in which the Company is engaged and which is treated by the Company as confidential. This information may also have been created, discovered or developed by the Company or
otherwise received by the Company from third parties (“Third Parties”) subject to a duty to maintain the confidentiality of such Third Parties’ information. All such information, which shall include Inventions and all other trade
secrets, ideas, processes, programs, know-how, developments, marketing and financial information, supplier lists, personnel information, business plans and the like, is hereinafter called “Proprietary Information.” Notwithstanding the
foregoing, the Company agrees not to disclose to me any information relating to any Opt Out Activity (“Opt Out Activity Information”), and Proprietary Information shall not include any Opt Out Activity Information or any information that
(i) is or (through no wrongful act by me) becomes generally known to the public, (ii) was in my possession or known to me prior to receipt from the Company as evidenced by written records, or (iii) was rightfully disclosed to me by a Third Party
without restriction. 
  
 (b) I hereby acknowledge
the Company’s ownership of the Proprietary Information and I hereby assign to the Company any right, title or interest I may have or acquire in any such Proprietary Information. At all times during the term of this Agreement and thereafter, I
will keep in strictest confidence and trust all Proprietary Information, and I will not use, reproduce, disclose, lecture upon or publish any Proprietary Information without the written consent of the Company, except (i) as may be necessary in the
ordinary course of performing the Services and (ii) as permitted by agreement between the Company and any Third Party in the case of Proprietary Information that is solely owned by such Third Parties, unless I am expressly authorized to act
otherwise by the Company. 
  

	 	4.	Inventions During The Term of Agreement. 

  
 (a) I understand that, in the course of performing Services hereunder during the term of this Agreement, I may make, conceive of, learn of
or reduce to practice, either alone or with others, various inventions, discoveries, developments, designs, processes, programs, know-how and the like, whether or not patentable or registerable under copyright law (it being understood that all
original works of authorship shall be “works made for hire” under applicable copyright), all of which are hereinafter called “Inventions.” For clarity, any intellectual property or other proprietary right that arises out of any
Opt Out Activity shall not be deemed to an Invention, and accordingly, shall not be subject to the terms hereof. 
  
 (b) During the term of this Agreement, I will promptly disclose to the Company any and all Inventions of which I became aware that are
specifically related to 

  

 
Services and useful in the business of the Company; provided, however, I shall not be obligated to disclose information received by me from others under a
contractual obligation of confidentiality, including any confidential information of my employer or any other Third Party. 
  
 (c) I hereby assign and transfer to the Company my entire right, title and interest in and to all Inventions, except for those inventions
which I can prove qualify fully under the provisions of Section 2870 of the California Labor Code. I will, at the Company’s request, promptly execute a written assignment to the Company of title to any such Invention and I will preserve any
such Invention as part of the Proprietary Information of the Company. I also hereby assign and transfer to, or as directed by, the Company all my right, title and interest in and to any and all Inventions, full title and which is required to be in
the United States by a contract between the Company and the United States or any of its agencies. I further agree as to all Inventions to assist the Company in every proper way and to execute those documents and take such acts as are reasonably
requested by the Company to obtain, sustain and from time to time enforce patents, copyrights, mask works and other rights and protections relating to Inventions in the United States and any other country. 
  
 (d) In the event the Company is unable, after reasonable
effort, to secure my signature on any document needed to apply for or prosecute any patent, copyright, or other right or protection relating to a Company Invention, I hereby irrevocably designate and appoint the Company and its duly authorized
officers and agents as my agent and attorney-in-fact, to act for an on my behalf to execute, verify and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyrights, and other
rights and protections thereon with the same legal force and effect as if executed by me. 
  

	 	5.	No Third Party Information or Materials. 

  
 I represent that I have not brought and will not bring with me to the Company or use in the performance of the Services any device,
material, document, trade secret or the like of my employer or any other Third Party that is not generally available to the public, unless I have obtained express written authorization from such Third Party for their possession and use. 

 

	 	6.	No Conflicting Obligations. 

  
 (a) I represent that my performance of all the terms of this Agreement and the Services does not and will not breach any agreement to keep
in confidence any information of my employer or any other Third Party that I have not acquired or may acquire in confidence or in trust prior to the date or during the term of this Agreement. I have not entered into, and agree not to enter into, any
agreement, written or oral, in conflict with this Agreement. 
  

 (b) The Company acknowledges that, as of the Effective Date, I am engaged in full-time
employment with another biopharmaceutical company, and may in the future serve as a consultant to other commercial entities. The Company acknowledges that my employment with such other biopharmaceutical company is not a conflict with this Agreement,
and provided that I do not serve as a consultant to a competitor of the Company, such other consultancies (if any) shall not be a conflict with this Agreement. I agree to notify the Company of any other such consultancies that I enter into during
the term of this Agreement. 
  
 (c) I agree to
submit to the Company any proposed publication describing the results of my Services under this Agreement. I further agree that no such publication shall be made without the prior written consent of the Company. 
  

	 	7.	Term and Termination. 

  
 This Agreement shall expire on the third (3rd) anniversary of the Effective Date above, unless extended by mutual written agreement of the
parties or terminated as provided in this Section 7. The rights and responsibilities of me and the Company under this Agreement may be terminated as follows: 
  

(a) Either party may terminate this Agreement in the event of a material breach by the other party of any of the covenants contained
herein if such breach continues uncured for a period of thirty (30) days after written notice specifying the breach; and 
  
 (b) Either party may terminate this Agreement for any other cause or no cause upon sixty (60) days’ written notice. 
  

	 	8.	Effect of Termination. 

  
 Upon any termination of this Agreement, I understand that each party shall be released from all obligations and liabilities to the other
occurring or arising after the date of such termination, except that any termination of this Agreement shall not relieve me of my obligations under Sections 2, 3, 4(c), 4(d), 6(c) and 9 hereof, nor shall any such termination relieve either myself or
the Company from any liability arising from any breach of this Agreement or prior to such termination. Upon termination of this Agreement for any reason, I shall promptly deliver to the Company all documents, notes, drawings, specifications,
calculations, laboratory materials, data and other materials of any nature arising from my Services, and documents or data of any description (or any reproduction of any documents or data) containing any Proprietary Information or pertaining to
Inventions. I agree that in the event of such termination, I will cooperate with the Company in completing and signing the Company’s standard termination statement (if any) for scientific advisors. 
  

	 	9.	Legal and Equitable Remedies. 

  
 I agree that because my services are personal and unique and because I may have access to and become acquainted with Proprietary
Information of the Company, the Company shall have the right to enforce this Agreement. 
  

	 	10.	Release. 

  
 In consideration of the compensation and other assurances set forth in this Agreement, I agree that this arrangement will constitute full
and final release and settlement of any and all claims, charges and the like relating to my employment or my termination from employment with the Company. On behalf of myself and my heirs and assigns, I hereby release the Company and its owners,
stockholders, affiliates, divisions, subsidiaries, predecessors, successors, officers, managers, employees, insurers, representatives and agents from all claims based upon contract, tort or statute arising out of, based upon, or relating to my hire,
employment, remuneration or termination from the Company, including any claims arising under Title VII of the Civil Rights Act of 1964, as amended; the Equal Pay Act, as amended; the Age Discrimination in Employment Act, as amended; the Employee
Retirement Income Security Act, as amended; the Older Workers Benefit Protection Act of 1990; the California Fair Employment and Housing Act, as amended; the California Labor Code, as amended; and/or any other local, state or federal law governing
discrimination in employment and/or the payment of wages and benefits. As part of my full and final release of any and all claims against the Company and parties connected to the Company, I agree to waive my rights under California Civil Code
Section 1542, which provides as follows: 
  
 “A general
release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially effected this settlement with the debtor.” 
  

	 	11.	General Terms. 

  
 The parties agree that, with respect to the subject matter hereof, this Agreement and the stock option agreements pursuant to which the
Stock Options in Exhibit B are granted to me, constitute the final, complete and exclusive agreement between the Company and me, superseding any previous oral or written communication, representation, understanding or agreement with the
Company or any officer or representative of the Company. This Agreement shall inure to the benefit of the successors and assigns of the Company, and shall be binding upon my successors and permitted assigns. To the extent that any part of this
Agreement shall be found to be illegal or unenforceable for any reason, such part shall be modified or deleted in such a manner so as to make the Agreement legal and enforceable under applicable laws. This Agreement shall be governed by the laws of
the State of California as those laws are applied by California courts to contracts between California residents made and to be performed entirely within the Sate of California. This Agreement may not be amended, modified, released, discharged,
abandoned, or otherwise changed, in whole or in part, except by a written instrument signed by the Company and me. Any notices required or permitted hereunder shall be given to the appropriate party at the address specified above or at such other
address as the party shall specify in writing. Such notice shall be deemed given upon personal delivery, or sent by certified or registered mail, postage prepaid, three (3) days after the date of mailing, to the appropriate address above. As the
Company has specifically contracted for my services, I agree that I may not assign any of my rights or delegate any of my obligations under this Agreement without the prior written consent of the Company. Any such attempted assignment or delegation
without proper consent shall be void. 
  

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above. 
  

									
	 CV THERAPEUTICS, INC.
	 	 	 	 ANDREW A. WOLFF

					
	By:	 	 /s/ Louis G. Lange
	 	 	 	By:	 	 /s/ Andrew A. Wolff

	 (Signature)
	 	 	 	 (Signature)

			
	Louis G. Lange, M.D., Ph.D.	 	 	 	Andrew A. Wolff
	 Louis G. Lange
	 	 	 	 (Print Name)

	 Chief Executive Officer
 CV Therapeutics, Inc.

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