SEC Contract Filing

Filing Date: 2021-02-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.50
<SEQUENCE>8
<FILENAME>arna-ex1050_631.htm
<DESCRIPTION>EX-10.50
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<p style="text-align:right;margin-bottom:24pt;margin-top:0pt;text-indent:0%;text-transform:none;font-weight:bold;font-family:Arial;font-size:10pt;font-style:normal;font-variant: normal;">Exhibit 10.50</p>
<p style="text-align:center;margin-bottom:24pt;margin-top:0pt;text-indent:0%;font-weight:bold;text-transform:uppercase;font-family:Arial;font-size:10pt;font-style:normal;font-variant: normal;">Arena Pharmaceuticals, Inc., 2020 Long-Term Incentive Plan<br /><br />Performance Restricted Stock Unit Grant Agreement</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-variant: small-caps;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;">This Grant Agreement<font style="font-variant: normal;"> </font><font style="font-weight:normal;font-variant: normal;">(this &#8220;</font><font style="font-style:italic;font-variant: normal;">Agreement</font><font style="font-weight:normal;font-variant: normal;">&#8221;), effective as of</font><font style="font-variant: normal;"> </font><font style="font-weight:normal;font-variant: normal;">________________ (the &#8220;</font><font style="font-style:italic;font-variant: normal;">Grant Date</font><font style="font-weight:normal;font-variant: normal;">&#8221;), is entered into by and between </font>Arena Pharmaceuticals, Inc.<font style="font-weight:normal;font-variant: normal;">, a Delaware corporation (the &#8220;</font><font style="font-style:italic;font-variant: normal;">Company</font><font style="font-weight:normal;font-variant: normal;">&#8221;), and ______________ (the &#8220;</font><font style="font-style:italic;font-variant: normal;">Participant</font><font style="font-weight:normal;font-variant: normal;">&#8221;) and evidences the terms of the Company&#8217;s grant to the Participant of a performance restricted stock unit (&#8220;</font><font style="font-style:italic;font-variant: normal;">PRSU</font><font style="font-weight:normal;font-variant: normal;">&#8221;) award on the terms and conditions set forth herein (the &#8220;</font><font style="font-style:italic;font-variant: normal;">Award</font><font style="font-weight:normal;font-variant: normal;">&#8221;).</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-style:normal;color:#auto;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">1.</font><font style="font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Threshold, Target and Maximum Number of PRSUs under the Award.</font><font style="font-weight:normal;color:#000000;">&nbsp;&nbsp;The Award is for the below Target PRSUs, with potential to earn ______% of Target PRSUs upon a designated threshold level of performance below target and additional PRSUs upon a designated level of performance above target, in all cases up to the maximum number of PRSUs equal to ______% of Target PRSUs, subject to the conditions and adjustments specified herein, including the Award Determination, Vesting and Issuance Criteria attached as Attachment I to this Agreement (the &#8220;</font><font style="font-style:italic;color:#000000;">Vesting and Issuance Criteria</font><font style="font-weight:normal;color:#000000;">&#8221;). Each PRSU represents the right to potentially be issued one Share on a future date.</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Number of PRSUs at target performance: ____________ (&#8220;<font style="font-weight:bold;font-style:italic;">Target PRSUs</font>&#8221;)</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-style:normal;color:#auto;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">2.</font><font style="font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Subject to the Plan.</font><font style="font-weight:normal;color:#000000;">&nbsp;&nbsp;This Agreement is subject to the provisions of the Arena Pharmaceuticals, Inc., 2020 Long-Term Incentive Plan (the &#8220;</font><font style="font-style:italic;color:#000000;">Plan</font><font style="font-weight:normal;color:#000000;">&#8221;).&nbsp;&nbsp;Certain terms are defined in this Agreement, and, unless the context requires otherwise, other capitalized terms used herein shall have the same meaning as in the Plan.&nbsp;&nbsp;Except as provided herein, in the event of a conflict between the provisions of the Plan and this Agreement, the Plan shall control.</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-style:normal;color:#auto;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">3.</font><font style="font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Account.</font><font style="font-weight:normal;color:#000000;">&nbsp;&nbsp;The Company shall credit to a bookkeeping account (the &#8220;</font><font style="font-style:italic;color:#000000;">Account</font><font style="font-weight:normal;color:#000000;">&#8221;) maintained by the Company for the Participant&#8217;s benefit the Maximum PRSUs. On each date that cash dividends are paid on the Shares, the Company will credit the Account with a