# EDGAR Filing Document

**Accession Number:** 0001325964
**File Stem:** 0001553350-23-000180
**Filing Date:** 2023-3
**Character Count:** 10821
**Document Hash:** ab3b8862fdffdc82207b8011699e0b7e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001553350-23-000180.hdr.sgml**: 20230320

**ACCESSION NUMBER**: 0001553350-23-000180

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230316

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230320

**DATE AS OF CHANGE**: 20230320

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lightwave Logic, Inc.
- **CENTRAL INDEX KEY:** 0001325964
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS PLASTIC PRODUCTS [3080]
- **IRS NUMBER:** 820497368
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40766
- **FILM NUMBER:** 23746636

**BUSINESS ADDRESS:**
- **STREET 1:** 369 INVERNESS PARKWAY
- **STREET 2:** SUITE 350
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112
- **BUSINESS PHONE:** (720) 340-4949

**MAIL ADDRESS:**
- **STREET 1:** 369 INVERNESS PARKWAY
- **STREET 2:** SUITE 350
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THIRD-ORDER NANOTECHNOLOGIES INC
- **DATE OF NAME CHANGE:** 20070320

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THIRD-ORDER NANOTECHNOLOIES INC
- **DATE OF NAME CHANGE:** 20070222

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PSI TEC HOLDINGS INC
- **DATE OF NAME CHANGE:** 20050503

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported) **March 16, 2023**

**Lightwave Logic, Inc.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-40766** | **82-0497368** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification Number) |

---

**369 Inverness Parkway, Suite 350, Englewood, CO 80112**

(Address of principal executive offices, including Zip Code)

**(720) 340-4949**

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol(s)** | **Name of each exchange**<br> **on which registered** |
| Common Stock, par value $0.001 per share | LWLG | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

*Dr. Michael S. Lebby*

On March 16, 2023, Lightwave Logic, Inc. (the "**Company**") entered into an employee agreement amendment with Dr. Michael S. Lebby, the Company's Chief Executive Officer. The employee agreement amendment (i) change's Dr. Lebby's base salary to $420,000 per year, effective January 1, 2023; and (ii) sets Dr. Lebby's annual bonus target amount at $210,000.

Dr. Lebby was also granted an option to purchase up to 200,000 shares of Company common stock at an exercise price equal to $5.22 per share. The options vest as follows: 50,006 options vested on March 16, 2023, with the remaining options vesting in 9 equal monthly installments beginning on April 1, 2023. The options expire on March 15, 2033.

The description of Dr. Lebby's employee agreement amendment is not complete and is qualified in its entirety by reference to the employee agreement amendment attached hereto as <u>Exhibit 10.1</u>, which is incorporated by reference herein.

*James S. Marcelli*

On March 16, 2023, the Company entered into entered into an employee agreement amendment with James S. Marcelli, the Company's President and Chief Operating Officer. The employee agreement amendment (i) change's Mr. Marcelli's base salary to $367,500 per year, effective January 1, 2023; and (ii) sets Mr. Marcelli's annual bonus target amount at $147,000.

Mr. Marcelli was also granted an option to purchase up to 160,000 shares of Company common stock at an exercise price equal to $5.22 per share. The options vest as follows: 40,003 options vested on March 16, 2023, with the remaining options vesting in 9 equal monthly installments beginning on April 1, 2023. The options expire on March 15, 2033.

The description of Mr. Marcelli's employee agreement amendment is not complete and is qualified in its entirety by reference to the employee agreement amendment attached hereto as <u>Exhibit 10.2</u>, which is incorporated by reference herein.

**Item 9.01 Financial Statements and Exhibits.** 

---

| | |
|:---|:---|
| **Exhibit<br> No.** | **Description** |
| 10.1 | [Employee Agreement Amendment – Dr. Michael S. Lebby](lwlg_ex10z1.htm) |
| 10.2 | [Employee Agreement Amendment – James S. Marcelli](lwlg_ex10z2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| LIGHTWAVE LOGIC, INC. | LIGHTWAVE LOGIC, INC. |
| By: | /s/ James S. Marcelli |
| Name:&nbsp;&nbsp;&nbsp;&nbsp; | James S. Marcelli |
| Title: | President |

---

Dated: March 20, 2023

## Exhibit 10.1

**EXHIBIT 10.1**

**EMPLOYEE AGREEMENT AMENDMENT**

THIS AGREEMENT (the "**Agreement**") is made and entered into on March 16, 2023, by and between Lightwave Logic, Inc., a Nevada Corporation (the "**Company**"**)** and Michael S. Lebby, PhD ("**Employee**").

1. This Agreement amends that certain Employee Agreement dated March 20, 2017, as amended from time to time,
made and entered into by the parties hereto (the "**Employee Agreement** "). Capitalized terms herein have the same meaning
as used in the Employee Agreement, unless otherwise noted.

2. Effective January 1, 2023, paragraph 4.1 of Article Four is deleted in its entirety and replaced
 with the following:

4.1. <u>Base Compensation.</u> For all services rendered by Employee under this Employee Agreement, the Company agrees to pay Employee the rate of $420,000 per year ($35,000 per month), which shall be payable to Employee not less frequently than monthly, or as is consistent with the Company's practice for its other employees.

3. Effective January 1, 2023, paragraph 4.4 of Article Four is deleted in its entirety and replaced with
the following:

4.4. <u>Bonus Compensation.</u> Employee's annual bonus target amount is $210,000 and will be based on the Company achieving targets as shall be set by the Board of Directors. Employee shall be eligible to receive additional bonus compensation to be determined by the Board of Directors from time to time in their sole discretion.

4. All other provisions of the Employee Agreement remain in full force and effect, other than any provision
that conflicts with the terms and spirit of this Agreement.

**IN WITNESS WHEREOF**, the Parties have executed this Agreement on the date first written above.

---

| | | |
|:---|:---|:---|
|  | **LIGHTWAVE LOGIC, INC.:** | **LIGHTWAVE LOGIC, INC.:** |
| | By: | /s/ James S. Marcelli |
| (Witness signature) |  | James S. Marcelli, President |
|  | **EMPLOYEE:** | **EMPLOYEE:** |
|  | /s/Michael S. Lebby | /s/Michael S. Lebby |
| (Witness signature) | Michael S. Lebby | Michael S. Lebby |

---

## Exhibit 10.2

**EXHIBIT 10.2**

**EMPLOYEE AGREEMENT AMENDMENT**

THIS AGREEMENT (the "**Agreement**") is made and entered into on March 16, 2023, by and between Lightwave Logic, Inc., a Nevada Corporation (the "**Company**"**)** and James S. Marcelli ("**Employee**").

1. This Agreement amends that certain Employee Agreement dated August 10, 2015, as amended from time to time,
made and entered into by the parties hereto (the "**Employee Agreement** "). Capitalized terms herein have the same meaning
as used in the Employee Agreement, unless otherwise noted.

2. Effective January 1, 2023, Paragraph 4.1 of Article 4 is deleted in its entirety and replaced with the
following:

4.1. <u>Base Compensation.</u> For all services rendered by Employee under this Employee Agreement, the Company agrees to pay Employee the rate of $367,500 per year ($30,625 per month), which shall be payable to Employee not less frequently than monthly, or as is consistent with the Company's practice for its other employees.

3. Effective January 1, 2023, paragraph 4.4 of Article Four is deleted in its entirety and replaced with
the following:

4.4. <u>Bonus Compensation.</u> Employee's annual bonus target amount is $147,000 and will be based on the Company achieving targets as shall be set by the Board of Directors. Employee shall be eligible to receive additional bonus compensation to be determined by the Board of Directors from time to time in their sole discretion.

4. All other provisions of the Employee Agreement remain in full force and effect, other than any provision
that conflicts with the terms and spirit of this Agreement.

**IN WITNESS WHEREOF**, the Parties have executed this Agreement on the date first written above.

---

| | | |
|:---|:---|:---|
|  | **LIGHTWAVE LOGIC, INC.:** | **LIGHTWAVE LOGIC, INC.:** |
| | By: | /s/ Michael S. Lebby |
| (Witness signature) |  | Michael S. Lebby, CEO |
|  | **EMPLOYEE:** | **EMPLOYEE:** |
|  | /s/James S. Marcelli | /s/James S. Marcelli |
| (Witness signature) | James S. Marcelli | James S. Marcelli |

---