Fully Vested Options (grant dates February 26, 2020 or earlier): Fartaj shall have the right to exercise all fully vested stock options granted on February 26, 2020 or earlier for the remainder of their original, respective 10-year terms.

Stock Options. Subject to the approval of the Board or its Compensation Committee, you will be granted an option to purchase 350,000 shares of the Company’s Common Stock (the “Option”). The exercise price per share of the Option will be no less than the fair market value of a share of the Company’s Common Stock on the date of grant. The Option will be subject to the terms and conditions applicable to options granted under the Company’s stock option plan in effect at the time of the grant and the applicable stock option agreement. You will vest in 25% of the Option shares after 12 months of continuous service, and the balance will vest in equal monthly installments over the next 36 months of continuous service, as described in the applicable stock option agreement. Notwithstanding the foregoing, the Option shall also be subject to certain acceleration of vesting provisions as set forth in the Company’s Executive Severance Plan (the “Executive Severance Plan”), a copy of which is attached hereto as [Exhibit A].

Stock Options. As a permanent employee, you will be eligible to participate in Xenon’s equity incentive plan then in effect (the “Plan”). Subject to the terms of the Plan (as such may be amended from time to time) and approval by Xenon’s Board of Directors on or around your Start Date, or if the Company is in a trading blackout, as soon as possible thereafter, you will receive a onetime option to purchase 150,000 common shares of Xenon Pharmaceuticals Inc. or in the event the Company is unable to grant such an option due to regulation, policy or other legal constraints, an economically similar award. Currently, all such stock options will have a ten (10) year term and vest in installments over a four (4) year term, in accordance with Parent’s standard policy in that regard: 25% of the Shares subject to the option shall vest twelve (12) months after the date your vesting begins, no shares shall vest before such date, and no rights to any vesting shall be earned or accrued prior to such date. The remaining shares shall vest monthly over the next 36 months in equal monthly amounts, subject to your continuing eligibility. No right to any stock is earned or accrued until such time that vesting occurs, nor does the grant of stock confer any right to continue vesting or employment. If an award is granted in lieu of stock options, the Board will have full discretion to determine the type and quantity of such award and the applicable terms thereof. Subsequent grants, if any, will be at the sole discretion of the Board and in accordance with the then current Plan or equivalent.

Stock Options. The number of Stock Options granted will be determined using the Company’s Black-Scholes valuation methodology as of the date of grant. Each Stock Option grant will # have a seven-year term, # vest ratably on a monthly basis and will become fully vested upon the earlier of # the 12-month anniversary of the grant date, or # the date of the next year’s annual meeting, and # have an exercise price equal to the fair market value of the Company’s common stock (i.e., the closing price) on the date of grant.

Stock Options. Subject to the approval of the Board of Directors (or the Committee), Executive will be granted a stock option to purchase shares of the Company’s Common Stock under the Company’s 2018 Equity Incentive Plan. The number of shares subject to the stock option will be determined as of the grant date, based on a target equity value as of such date of $1,800,000 and converted to a number of shares in a manner based on the Company’s financial accounting valuations for stock options. The exercise price for each share will be equal to the closing price of one share of Common Stock, as reported on the New York Stock Exchange on the grant date. The terms of the stock option grant will be detailed under separate cover. The stock option will vest in accordance with a vesting schedule to be determined by the Board of Directors (or the Committee) but the standard employee vesting is a 1 year cliff with 25% vesting and then 1/48 (of the original amount) vesting each month thereafter for the next 36 months, subject to continued employment or service on each vest date.

Stock Options. At the discretion of the Committee, the Executive may be granted options to purchase shares of stock of the Company from time to time, but nothing herein shall guarantee or require the Company to grant the Executive options or other equity incentive awards. Any options or other equity incentive awards granted to the Executive shall be governed by the terms of the applicable Company equity incentive plan, as amended from time to time, and any certificate or award agreement thereunder, and other restrictions generally applicable to Company stock options or other equity incentive awards.

Stock Options. As soon as practicable after the date this Agreement is executed by the Parties, the Company shall grant Executive a Stock Option under the 2017 Incentive Award Plan to acquire 200,000 shares of Common Stock. The Stock Option shall have an exercise price equal to the fair market value of the Common Stock as defined under the 2017 Incentive Award Plan (the “Fair Market Value”) and shall vest in its entirety on the third anniversary of the date of grant, provided that Executive remains employed with the Company through such date. All other terms and conditions applicable to the Stock Option grant shall be determined by the Compensation Committee.

Stock Options. As an executive of the Company, Executive may be provided stock option grants in the Company as governed by the terms of the [[Company:Organization]] Stock Option Plan(s) and applicable agreements as may be in effect from time to time.

Stock Options. The Committee may, in its discretion, grant options to purchase shares of Common Stock to such eligible persons as may be selected by the Committee. Each option, or portion thereof, that is not an Incentive Stock Option, shall be a Nonqualified Stock Option. To the extent that the aggregate Fair Market Value (determined as of the date of grant) of shares of Common Stock with respect to which options designated as Incentive Stock Options are exercisable for the first time by a participant during any calendar year (under this Plan or any other plan of the Corporation or any Affiliate) exceeds the amount (currently $100,000) established by the Code, such options shall constitute Nonqualified Stock Options.

Stock Options. The parties agree and acknowledge that # in accordance with the terms of any stock options held by Consultant as of the date hereof that provide for time-based vesting (the “Options”) (and the option agreements evidencing the Options), any portion of the Options that are not vested as of the Effective Date shall continue to vest from and after the Effective Date for so long as Consultant continues to be a consultant and provide the Services hereunder and # Consultant’s right to exercise the portion of the Options that are vested will terminate three months after the date Consultant ceases to be a consultant hereunder, provided that in the case of [clause (ii)] the vested Options may not be exercised after the Final Exercise Date (as defined in the option agreements evidencing the Options) or at all if, under the terms of the Options, Consultant’s rights to exercise the Options would have otherwise terminated immediately.