EXHIBIT 10.4

 

FIFTH AMENDMENT TO SERVICES AGREEMENT

BETWEEN

NST CONSULTING, LLC

AND

ACLARIS THERAPEUTICS, INC.

 

This Fifth Amendment to the Services Agreement (“Fifth Amendment”) made and
entered into this 8th day of January 2016 and effective as of January 1, 2016
(“Effective Date”), by and between NST CONSULTING, LLC (“NST’) and ACLARIS
THERAPEUTICS, INC. (“Aclaris”).

 

WHEREAS, NST provides certain management services to Aclaris pursuant to that
certain Services Agreement dated February 5, 2014 (“Services Agreement”), as
amended by the First Amendment dated December 19, 2014, the Second Amendment
dated August 11, 2015, the Third Amendment dated November 24, 2015, and the
Fourth Amendment dated January 8, 2016, the services being more specifically
described therein; and

 

WHEREAS, NST and Aclaris wish to further amend the Services Agreement as
follows;

 

NOW, THEREFORE, in consideration of and the agreement of each other, NST and
Aclaris agree that the Services Agreement shall be and the same is hereby
amended as follows:

 

1.   Incorporation of Recitals.  The recitals set forth above, the Services
Agreement referred to therein and the exhibits attached hereto are hereby
incorporated herein by reference as if set forth in full in the body of this
Third Amendment. Capitalized terms not otherwise defined herein shall have the
meanings given to them in the Services Agreement.

 

       2.    Exhibit A. Exhibit A is deleted in its entirety and replaced with
the new Exhibit A attached hereto.

 

         4.  Binding Effect.  Except as expressly amended hereby, the Services
Agreement remains in full force and effect in accordance with its terms. 

 

IN WITNESS WHEREOF, NST and Aclaris have duly executed this Fifth Amendment on
the date first above written.

 

NST CONSULTING, LLC                                         ACLARIS
THERAPEUTICS, INC.

 

By: ___/s/ Douglas Gessl_____________                    By: ___/s/ Neal
Walker____________

Name: _Douglas Gessl_______________                   Name: _Neal
Walker______________

Title:  _CFO________________________                  Title: __President and
CEO________

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY
FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST.
OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 

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EXHIBIT A- 5th Amendment

(effective January 1, 2016)

 

·

Executive Personnel Compensation paid by Aclaris to  NST: 

NST will provide the services of Kelly Copeland (33.33% time allocation) and
Evan Dick (60% time allocation).  The new total monthly cost for these services
will be $[***] (includes benefits charge, excludes bonuses).   

·

Administrative Support Staff:  

(Equals 35% of M. Walker and J. Good, 60% T. Rambert)

$[***]/month (includes benefits charge, excludes bonuses, Joann DeLucca, G.
Benoit-Rosa and Gina Reed) 

·

Total Overhead Charge:  

Increased to $[***]/month which covers utilities, general insurance, office
supplies, computer server, existing  furniture, etc., but not mobile phone or
laptop/desktop computers.

·

Monthly Amounts Due from Aclaris to NST:

      Executive Personnel:$[***]

      Administrative Support Staff:$[***]

      Overhead Charge:$[***]

      Total Due from Aclaris to NST for Services Provided:$39,800.00

·

Executive Personnel Compensation paid by NST to Aclaris: 

(1)

Reimbursement for Christopher Powala (10% time allocation), Stuart Shanler (10%
time allocation) and Lisa Shultz (25% time allocation) including a ~25% benefits
= $9,425.00.

(2)

Bonuses are a pass-through via Alexar Therapeutics, Inc.

 

·

Monthly Amounts Due from NST to Aclaris:

      Executive Personnel:$9,425.00 

      Admin Support:$1,250.00 (20% of G. Reed, incl. ~25% benefits charge,
excludes pass through bonus)

     Total Due from NST to Aclaris for Certain Personnel Reimbursement
Expenses:$10,675.00             

·

Net Monthly Amounts Due to Aclaris from NST (excluding rent):

Monthly Due from Aclaris to NST:  $29,125.00

 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY
FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST.
OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 

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