Document:

EX-10.1

 Exhibit 10.1 

SEPARATION AGREEMENT 

This Separation Agreement (the “Separation Agreement” or “Agreement”) is entered into and executed by and between D.
Rogers Herndon (“Executive”) and Quintana Energy Services Inc. (the “Company”), as evidenced by their respective signatures hereto on August 7, 2019 (the “Effective Date”). In consideration of the mutual promises set
forth below, Executive and the Company agree as follows: 
  

	 	1.	 TERMINATION OF EMPLOYMENT AND
RESIGNATION OF OFFICER AND DIRECTOR POSITIONS. The parties agree that Executive’s employment with the Company and QES Management LLC terminated as of
August 7, 2019 (the “Date of Termination”). In accordance with Section 5(e) of the Employment Agreement (defined below), the termination of Executive’s employment with the Company and QES Management on the Date of Termination
constitutes an automatic resignation of Executive: (a) as an officer of the Company and of each other member of the Company Group (as defined below); (b) from the Board of Directors of the Company; and (c) from the board of directors or board of
managers (or similar governing body) of any member of the Company Group and from the board of directors or board of managers (or similar governing body) of any related or affiliated companies or joint ventures that are owned (directly or indirectly)
or controlled by the Company as of the Date of Termination and any other entity in which any member of the Company Group holds an equity interest and with respect to which board of directors or board of managers (or similar governing body) Executive
serves as such Company Group member’s designee or other representative. Upon Company’s request, Executive will promptly execute appropriate documentation evidencing his resignation from such officer or director positions.

  

	 	2.	 SEPARATION BENEFITS. If Executive executes this Separation Agreement and
returns it to the Company’s General Counsel no later than August 28, 2019, and does not subsequently revoke his acceptance of this Agreement as set forth in paragraph 14 below, Executive will be provided the following benefits:

 (a) payment of $1,500,000.00, less applicable taxes and withholding, payable in 24 substantially equal installments
over a period of 12 months, with the first payment being due on the next regularly scheduled payday for employees following the expiration of the revocation period set forth in paragraph 14 below, and each subsequent payment being made on the next
following regularly scheduled payday for employees. 
 (b) payment of all accrued but unused vacation, with the payment being due on the
next regularly scheduled payday for employees following the expiration of the revocation period set forth in paragraph 14 below. 
 (c) the
vesting and delivery of 120,000 Company shares, less applicable taxes and withholding (all other unvested Company shares to which Executive may otherwise be entitled under any agreement or plan shall be forfeited and lapse); 

  
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 (d) for the period beginning on first day of the month after the Date of Termination and
ending on the date that is 18 months after the Date of Termination, Company shall reimburse Executive for the premiums that Executive pays pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 and/or sections 601 through 608 of the
Employee Retirement Income Security Act of 1974 (collectively, “COBRA”) to continue coverage in the health, dental and vision insurance plans sponsored by Company in which Executive and Executive’s dependents participated immediately
prior to the Date of Termination (each such premium being a “COBRA Premium”); provided, however, that in order to receive a COBRA Premium reimbursement, Executive must timely elect COBRA continuation coverage, pay the applicable COBRA
Premium and provide Company with evidence satisfactory to Company of Executive’s having paid the COBRA Premium within 30 days of having paid such COBRA Premium; provided, further, however, that no COBRA Premium reimbursement shall be payable if
such reimbursement results in the imposition of sanctions against the Company or any member of the Company Group pursuant to Section 2716 of the Public Health Service Act and the related regulations and guidance promulgated thereunder. Each COBRA
Premium reimbursement shall be provided to Executive by Company within 30 days of its receipt of such evidence of the COBRA Premium payment. Executive agrees and understands that the payment of any COBRA Premium will remain Executive’s sole
responsibility; 
 (e) reimbursement of expenses paid by Executive to BKD LLP for preparation of Executive’s 2019 and 2020 income tax
returns; and 
 (f) reimbursement of legal fees paid by Executive in connection with his legal counsel’s review of this Agreement. 

Executive agrees that he is not entitled to any further wages, compensation, equity, reimbursements, accrued but unused paid time off, or
bonuses from the Company. 
  

	 	3.	 EXECUTIVE’S FULL RELEASE OF
CLAIMS. In consideration for the Separation benefits described in paragraph 2, which Executive acknowledges he is not otherwise entitled to, Executive hereby releases Quintana Energy Services Inc., QES Management LLC, and all
of their related or affiliated companies or joint ventures, along with the past, present, and future owners, partners, agents, directors, officers, executives, employees, insurers, representatives, benefit plans (and fiduciaries of such plans), and
attorneys of any of them (the “Releasees”), from any and all claims and damages, whether known or unknown, including those related to, arising from, or attributed to Executive’s former employment with the Company; the termination
thereof; and all other acts or omissions occurring at any time prior to Executive’s execution of this Separation Agreement. The scope of this release includes, but is not limited to, any claims arising out of any other contract, express or
implied, any covenant of good faith and fair dealing, express or implied, any tort (including negligence by the Company or anyone else), and any federal, state, local, or other governmental statute, regulation or ordinance relating to employment,
employment discrimination, or the payment of wages or benefits, 

  
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including but not limited to the Fair Labor Standards Act, Title VII of the Civil Rights Act of 1964 (as amended), the Americans with Disabilities Act, the Texas Payday Act, the Texas Labor Code,
the Lily Ledbetter Fair Pay Act, the Employee Retirement Income Security Act, the Family Medical Leave Act, the False Claims Act (including but not limited to those arising under 31 U.S.C. § 3730(h)), the Sarbanes-Oxley Act, the Dodd-Frank Wall
Street Reform and Whistleblower Act, and the Age Discrimination in Employment Act. Executive confirms that he has not filed any charge, claim, demand, grievance, lawsuit, or other proceeding with any government agency, court, or arbitrator against
any Releasee. Executive understands and agrees that nothing in this Agreement prohibits him from challenging the enforceability of the Agreement’s release of claims under the Age Discrimination in Employment Act, or from filing a charge or
complaint with any governmental agency; provided, however, that by executing this Agreement Executive understands and agrees that he is waiving his right to receive individual relief (including backpay, frontpay, reinstatement, or other legal or
equitable relief) based on claims asserted in any such charge or complaint. 

 Each of the Releasees who are not signatories to
this Agreement are hereby agreed to be third party beneficiaries of this Agreement and shall be entitled to all rights, benefits, and protections of this Agreement, and shall further be entitled to enforce this Agreement and each of its terms. 

 

	 	4.	 COMPANY PROPERTY AND PROTECTION OF
CONFIDENTIAL INFORMATION. Executive agrees that no later than August 13, 2019, he will return to the Company all property or information of Company or any of the Releasees in Executive’s possession including, but
not limited to, any identification cards, equipment, books, keys, computers, electronic storage devices, passwords, cellphones, PDAs, and any and all documents or electronic files containing the information or property of Company or any Releasee,
including but not limited to information contained in or on computer hard drives, phones, thumb drives and other external storage devices, emails, and cloud-based storage. Executive understands and agrees that compliance with the obligations in this
paragraph 4 is a condition precedent to the obligation to provide the benefits specified in paragraph 2. Executive agrees that the obligations sets forth in this paragraph are reasonable and necessary to protect the Releasees’ legitimate
interests in their property, including but not limited to confidential information belonging to the Company or any Releasee. 

  

	 	5.	 NON-ADMISSION OF LIABILITY. By entering into
this Agreement, no party admits that it has done anything wrong. 

  

	 	6.	 SEVERABILITY. The provisions contained herein are severable and the invalidity of any provision
shall not affect the enforceability of any other provision. If any provision in this Separation Agreement shall be held to be invalid, illegal or unenforceable, the provision shall be stricken and the remainder of this Separation Agreement shall
remain valid and enforceable. 

  

	 	7.	 AGREEMENT TO BE BINDING ON
OTHERS. This Separation Agreement will be binding upon Executive and the Company and their respective heirs, administrators, trustees, representatives, executors, successors, and assigns. 

  
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	 	8.	 COOPERATION AND NONDISPARAGEMENT. 

(a) Executive agrees to coordinate with the Company on the public release of information regarding Executive’s departure from the
Company; 
 (b) Executive agrees to coordinate with the Company on the terms of a departure email to be issued by Executive from
Executive’s QES email account to Division Leads regarding Executive’s departure from the Company; 
 (c) Executive agrees to
cooperate fully with the Company in connection with its actual or contemplated defense, prosecution, or investigation of any claims or demands by or against third parties, or other matters arising from events, acts, or failures to act that occurred
during the period of Executive’s employment with the Company. Such cooperation includes, without limitation, Executive being available to the Company upon reasonable notice, without subpoena, to provide truthful and accurate information in
witness interviews and depositions and trial testimony. The Company will reimburse Executive for reasonable out-of-pocket expenses that Executive incurs in connection with any such cooperation (excluding forgone wages, salary or other compensation)
and will make reasonable efforts to accommodate Executive’s scheduling needs; and 
 (d) Executive agrees not to defame or disparage
any Releasee. To the extent any Releasee reasonably believes Executive has made a defamatory or disparaging remark or statement that violates this provision, such Releasee must notify Executive in writing of the alleged breach, reference this
specific provision of this Agreement, and provide Executive with a reasonable amount of time to consider retracting such remark or statement. The foregoing notice obligations are conditions precedent to making any legal claim that Executive has
breached this specific provision of this Agreement. 
 (e) The Company agrees that its officers, directors, and Board members will not
defame or disparage Executive. To the extent Executive reasonably believes a Company representative has made a defamatory or disparaging remark or statement that violates this provision, Executive must notify the Company in writing of the alleged
breach, reference this specific provision of this Agreement, and provide the Company with a reasonable amount of time to take efforts to cause its representative(s) to retract such remark or statement. The foregoing notice obligations are conditions
precedent to making any legal claim that the Company has breached this specific provision of this Agreement. 
  

	 	9.	 CHOICE OF LAW, VENUE, MODIFICATION,
AND EXECUTION. This Separation Agreement will be construed in accordance with and governed by the laws of the State of Texas, with any action seeking interpretation or enforcement of the Agreement may be maintained only
in the federal or state courts within Harris County, Texas. The parties agree that this Separation Agreement will not be modified or amended except by a written instrument(s) signed by Executive and a duly authorized representative of the Company.
This Separation Agreement may be executed in multiple parts. 

  
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	 	10.	 CONFIDENTIALITY. Executive agrees that the terms of this Agreement are strictly confidential and
that neither Executive nor any agent of Executive has disclosed or shall disclose its existence or its terms at any time in perpetuity to anyone except Executive’s attorneys, tax advisors, or spouse, and only on the condition that such other
person(s) keep such information strictly confidential. The foregoing obligations of confidentiality shall not apply to information that is required to be disclosed by a court or other tribunal of competent jurisdiction, by a government agency, or as
otherwise required by law. Further, the foregoing obligation of confidentiality shall not apply to the disclosure of the existence or non-existence of any restrictive covenants that are addressed in this Agreement. Executive agrees that if he breaks
this promise of confidentiality, it would be a breach of this Agreement, and that a portion of the Separation payment is consideration for this promise. Executive agrees that the Company may seek all available legal or equitable relief for
any breach of this promise. 

  

	 	11.	 NO EMPLOYMENT. Executive acknowledges and agrees that following his termination
of employment, he will not be an employee of any Releasee for any purpose, including but not limited to Executive’s status under the benefit plans of any Releasee. 

 

	 	12.	 ENTIRE AGREEMENT. This Separation Agreement sets forth the entire agreement
between Executive and the Company relating to Executive’s employment and termination of employment, and supersedes and renders null and void any and all prior oral or written agreements or understandings between Executive and the Company or any
Releasee concerning Executive’s employment or the subject matter of this Separation Agreement, including but not limited to that certain Amended and Restated Executive Employment Agreement between Executive and the Company (the “Employment
Agreement”), with the exception of paragraphs 6(a), 6(b), 6(c), 6(e), 6(f), 6(g), and the definitions of “Company Group” and “Prohibited Period” of the Employment Agreement, which provisions and the obligations therein shall
survive this Agreement (the “Surviving Duties”); the Phantom Unit Agreement dated February 28, 2017, as amended on June 15, 2019; the Restricted Stock Unit Grant Notice and Performance Share Unit Grant Notice, each respectively dated April
18, 2018; and the Restricted Stock Unit Grant Notice and Performance Share Unit Grant Notice, each respectively dated January 24, 2019. For the avoidance of doubt, Executive expressly acknowledges and agrees that neither Company nor any of
respective affiliates has any future obligations pursuant to the Employment Agreement (including any obligations with respect to severance pay or benefits), as that agreement has been terminated except for the Surviving Duties, and Executive has no
entitlements pursuant to the Employment Agreement. Further, for the avoidance of doubt, the restrictive covenants set forth in paragraph 6(d) of the Employment Agreement, along with any similar non-compete covenants found in any other employment
agreements between Executive and the Company, are not Surviving Duties. This Separation Agreement may not be altered, amended or modified, except by a further written document signed by Executive and a duly authorized representative of the Company.
None of the parties has made any settlement, representations or warranty in connection herewith (except those expressly set forth in this Separation Agreement) which have been relied upon by the other party, or which acted as an inducement for the
other party to enter into this Separation Agreement. 

  
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	 	13.	 REVIEW PERIOD. Executive understands that he has twenty-one (21) days from the
date on which this Agreement was presented to him in which to review and consider this Agreement before signing it, and that he may use as much or as little of this 21-day period as he wishes. Executive is advised to consult an attorney before
signing this Agreement. By executing this Agreement, Executive acknowledges that he was afforded a period of at least 21 days from the date this Agreement was first presented to him in which to consider it. Executive agrees that any changes that he
and the Company may make to this Agreement, whether material or not, will not restart the 21-day period described in this paragraph. Executive agrees that he has read this Agreement, understands it, and is entering into it knowingly and
voluntarily. 

  

	 	14.	 REVOCATION PERIOD. If Executive decides to accept and sign this Agreement, he
will have seven (7) days in which to revoke his release of claims. Executive understands that his release of claims will not become effective or enforceable until the seven (7) days have elapsed without his having revoked his release of those
claims. Executive understands that any such revocation will not be effective unless he delivers a written notice of such revocation to the Company’s General Counsel no later than close of business on the seventh day after he signs this
Agreement. Executive understands that if he revokes his release of claims, the Company will not provide him with the separation benefits described in paragraph 2 above. 

* * * 

  
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 I ACKNOWLEDGE THAT I HAVE CAREFULLY READ THE FOREGOING AGREEMENT, THAT I AM COMPETENT TO SIGN IT, THAT I
UNDERSTAND ALL OF ITS TERMS, THAT I UNDERSTAND THAT IT CONTAINS A COMPLETE RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS, THAT I HAVE HAD THE OPPORTUNITY FOR REVIEW BY LEGAL COUNSEL, AND THAT I AM ENTERING INTO IT VOLUNTARILY. 

 

							
		 		 	/s/ D. Rogers Herndon
		 		 	D. Rogers Herndon
			
		 		 	August 7, 2019
		 		 	Date
			
	ACCEPTED AND AGREED:	 		 	Quintana Energy Services Inc.
				
		 		 	By:	 	/s/ Max. L. Bouthillette
		 		 	 Printed
 Name:
	 	Max L. Bouthillette
				
		 		 	Title:	 	Executive Vice President, Chief Compliance Officer, General Counsel and Corporate Secretary
				
		 		 	Date:	 	August 7, 2019

  
 7EX-10.5

 Exhibit 10.5 

Nonstatutory Stock Option 

Executive Officer Inducement Award 
  

	1.	 Grant of Option. 

This certificate evidences a nonstatutory stock option (this “Stock Option”) granted by EyePoint Pharmaceuticals, Inc., a Delaware
corporation (the “Company”), on 10-Jun-2019 (the “Date of Grant”) to David Jones (the “Participant”). This Stock Option is
granted to the Participant in connection with his entering into employment with the Company and is regarded by the parties as an inducement material to the Participant’s entering into employment within the meaning of Nasdaq Listing Rule
5635(c). Under this Stock Option, the Participant may purchase, in whole or in part, on the terms herein provided, a total of 350,000 shares of common stock of the Company (the “Shares”) at $1.47 USD
per Share, which is not less than the fair market value of a Share on the Date of Grant. The latest date on which this Stock Option, or any part thereof, may be exercised is 5:00 P.M. Eastern Time on 10-Jun-2029 (the “Final Exercise Date”). The Stock Option evidenced by this certificate is intended to be, and is hereby designated, a nonstatutory option, meaning an option that does
not qualify as an incentive stock option as defined in section 422 of the Internal Revenue Code of 1986, as amended from time to time (the “Code”). This Stock Option shall be subject to and governed by, and shall be construed and
administered in accordance with, the terms and conditions of the Company’s 2016 Long-Term Incentive Plan (as from time to time in effect, the “Plan”), which terms and conditions are incorporated herein by reference. A copy of the Plan
has been made available to the Participant. Notwithstanding the foregoing, this Stock Option is not awarded under the Plan and the grant of this Stock Option shall not reduce the number of shares of Stock available for issuance under awards issued
pursuant to the Plan. 
  

	2.	 Vesting. 

(a) During Employment. This Stock Option will vest according to the following schedule and become exercisable; provided
that, and subject to Section 2(c) below, upon a cessation of the Participant’s Employment by reason of an involuntary termination without Cause (as defined in the existing Employment Agreement between the Company and the Participant
(“Employment Agreement”) (“Cause”)) or a voluntary termination for Good Cause (as defined in the Employment Agreement (“Good Cause”)) any unvested portion of this Stock Option that would have vested as of the first
anniversary of the cessation of the Participant’s Employment had the Participant continued in Employment through such first anniversary will vest immediately prior to such cessation of Employment. 

 

			
	Vest Schedule - Options
	 Vest Date
	  	 Vest Quantity

	10-Jun-2020	  	87,500
	10-Jul-2020	  	7,291
	10-Aug-2020	  	7,292
	10-Sep-2020	  	7,292
	10-Oct-2020	  	7,291
	10-Nov-2020	  	7,292
	10-Dec-2020	  	7,292
	10-Jan-2021	  	7,291
	10-Feb-2021	  	7,292
	10-Mar-2021	  	7,292
	10-Apr-2021	  	7,291
	10-May-2021	  	7,292
	10-Jun-2021	  	7,292
	10-Jul-2021	  	7,291
	10-Aug-2021	  	7,292
	10-Sep-2021	  	7,292
	10-Oct-2021	  	7,291
	10-Nov-2021	  	7,292
	10-Dec-2021	  	7,292
	10-Jan-2022	  	7,291
	10-Feb-2022	  	7,292
	10-Mar-2022	  	7,292
	10-Apr-2022	  	7,291
	10-May-2022	  	7,292
	10-Jun-2022	  	7,292
	10-Jul-2022	  	7,291
	10-Aug-2022	  	7,292
	10-Sep-2022	  	7,292
	10-Oct-2022	  	7,291
	10-Nov-2022	  	7,292
	10-Dec-2022	  	7,292

			
	10-Jan-2023	  	7,291
	10-Feb-2023	  	7,292
	10-Mar-2023	  	7,292
	10-Apr-2023	  	7,291
	10-May-2023	  	7,292
	10-Jun-2023	  	7,292
		  	350,000

 (b) Termination of Employment. Notwithstanding the foregoing, and subject to Section 2(c) below,
the following rules will apply if a Participant’s Employment ceases regardless of the circumstances: automatically and immediately upon the cessation of Employment, this Stock Option will cease to be exercisable and will terminate, except that:

 (I) such portion, if any, of this Stock Option as is held by the Participant immediately prior to the cessation of the Participant’s
Employment for any reason other than for Cause or as a result of Participant’s death and as is then exercisable (after giving effect to any accelerated vesting owing to a cessation of Employment by reason of an involuntary termination without
Cause or a voluntary termination for Good Cause pursuant to Section 2(a) above), will remain exercisable until (i) 5:00 P.M. Eastern Time on the last day of the three-month period commencing on the date of such cessation of Employment or
(ii) the Final Exercise Date, if earlier, and will thereupon terminate; 
 (II) such portion, if any, of this Stock Option as is held by
the Participant immediately prior to the Participant’s death and as is then exercisable, will remain exercisable until (i) 5:00 P.M. Eastern Time on the first anniversary of the Participant’s death or (ii) the Final Exercise Date, if
earlier, and will thereupon terminate; and 
 (III) such portion, if any, of this Stock Option as is held by the Participant immediately
prior to the cessation of the Participant’s Employment for Cause will immediately terminate. 
 (c) Change of Control.
Notwithstanding any other provision of this Section 2 to the contrary, if a Change of Control occurs, whether or not the Change of Control also constitutes a Covered Transaction, and within the 24 months thereafter there is a cessation of the
Participant’s Employment by reason of an involuntary termination without Cause or a voluntary termination for Good Cause, the provisions of this Section 2(c) shall apply: 

(I) This Stock Option, if it survives the Change of Control, including any stock option granted in substitution for this Stock Option in
connection with the Change of Control, shall automatically vest and become exercisable immediately prior to such cessation of Employment and will remain exercisable until (i) 5:00 P.M. Eastern Time on the first anniversary of the date of such
cessation of Employment or (ii) the Final Exercise Date, if earlier, and will thereupon terminate; provided that, in the event of the Participant’s death during such extended exercise period following a Change of Control, any
portion of this Stock Option as is held by the Participant immediately prior to the Participant’s death will remain exercisable until (i) 5:00 P.M. Eastern Time on the first anniversary of the Participant’s death or (ii) the Final
Exercise Date, if earlier, and will thereupon terminate. 
 (II) Any and all performance or other vesting conditions imposed pursuant to
Section 7(a)(5) of the Plan with respect to any stock, cash or other property delivered in exchange for this Stock Option in connection with the Change of Control shall automatically be deemed to have been satisfied immediately prior to such
cessation of Employment. 
 (III) For purposes of this Section 2(c), “Employment” shall be deemed to include employment with
any successor to the Company’s business or assets in connection with a Change of Control. 
 (IV) For purposes of this Stock Option,
“Change of Control” shall mean: 
 (A) the acquisition by any Person (defined as any individual, entity or group (within the
meaning of Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934, as amended (“Exchange Act”))) of beneficial ownership (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) of 35% or more of the common stock of the Company; provided, however, that for purposes of this subsection (a), an acquisition shall not constitute a Change of Control if it is: (i) either by or directly from the
Company, or by an entity controlled by the Company, (ii) by any employee benefit plan, including any related trust, sponsored or maintained by the Company or an entity controlled by the Company (“Benefit Plan”), or (iii) by an
entity pursuant to a transaction that complies with the clauses (i), (ii) and (iii) of subsection (C) below; or 
 (B) individuals
who, as of the Date of Grant, constitute the Board (together with the individuals identified in the proviso to this Section 2(c)(IV)(B), the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board;
provided, however, that any individual becoming a director subsequent to the Date of Grant whose election, or nomination for election by the Company’s stockholders, was approved by at least a majority of the directors then comprising the
Incumbent Board shall be treated as a member of the Incumbent Board unless he or she assumed office as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened
solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
 (C) consummation of a reorganization, merger or
consolidation involving the Company, or a sale or other disposition of all or substantially all of the assets of the Company, (a “transaction”) in each case unless, following such transaction, (i) all or substantially all of the
Persons who were the beneficial owners of the common stock of the Company outstanding immediately prior to such transaction beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting
securities of the entity resulting from such transaction (including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more
subsidiaries) in substantially the same proportions as their ownership, immediately prior to such transaction, of the outstanding common stock of the Company, (ii) no Person (excluding any entity or wholly owned subsidiary of any entity
resulting from such transaction or any Benefit Plan of the Company or such entity or wholly owned subsidiary of such entity resulting from such transaction) beneficially owns, directly or indirectly, 35% or more of the combined voting power of the
then outstanding voting securities of such entity except to the extent that such ownership existed prior to the transaction and (iii) at least a majority of the members of the board of directors or similar board of the entity resulting from
such transaction were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such transaction; or 

(D) approval by the stockholders of the Company of a liquidation or dissolution of the Company. 

(d) Notwithstanding the foregoing provisions of this Section 2, this Stock Option shall not vest or become eligible to vest on any date
specified above unless the Participant has continuously been, since the Grant Date until the date immediately prior to such termination of Employment, Employed by the Company, its Affiliates, its subsidiaries, or, following a Change of Control, any
successor to the Company’s business or assets in connection with the Change of Control. 

	3.	 Exercise of Stock Option. 

The Participant may exercise the vested and exercisable portion of this Stock Option by logging in to his or her account on the Solium
Shareworks website at eyepoint.solium.com (or the website of any other stock plan administrator selected by the Company in the future), and exercising the Stock Option and paying the aggregate exercise price and any required tax withholdings that
are due upon exercise through one of the methods provided for on such website, which methods may include: [(i) exercise and sell all Shares (also known as “cashless exercise”), (ii) exercise and sell at least such number of Shares
sufficient to pay for the exercise price and required tax withholdings, with the remaining Shares issued to the Participant (also known as “sell to cover”) or (iii) exercise and hold all Shares (also known as “exercise and
hold”). The Company reserves the right to change the means of exercising options or option administration at any time. 
 In the event of the
Participant’s death or incapacity, the vested and exercisable portion of this Stock Option may be exercised in writing, signed by the Participant’s executor, administrator, or legally appointed representative (in the event of the
Participant’s incapacity) or the person or persons to whom this Stock Option is transferred by will or the applicable laws of descent and distribution, and received by the Company at its principal office, accompanied by this certificate and
payment in full as provided in the Plan. Subject to the further terms and conditions provided in the Plan, the exercise price may be paid as follows: (i) by delivery of cash or check acceptable to the Administrator; or (ii) through a
broker-assisted exercise program acceptable to the Administrator; or (iii) by any other means acceptable to the Administrator, or (iv) by any combination of the foregoing means of exercise. In the event that this Stock Option is exercised
by one of the foregoing permitted transferees, the Company will be under no obligation to deliver Shares hereunder unless and until it is satisfied as to the authority of the permitted transferee to exercise this Stock Option. 

 

	4.	 Withholding. 

Except as otherwise determined by the Administrator, this Stock Option may not be exercised unless the person exercising this Stock Option
timely remits to the Company, in cash, all amounts required to be withheld upon exercise (all as determined by the Administrator) or makes other arrangements satisfactory to the Administrator for the payment of such taxes. 

 

	5.	 Nontransferability of Stock Option. 

This Stock Option is not transferable by the Participant otherwise than by will or the laws of descent and distribution, and is exercisable
during the Participant’s lifetime only by the Participant (or in the event of the Participant’s incapacity, the person or persons legally appointed to act on the Participant’s behalf). 

 

	6.	 Provisions of the Plan. 

This Stock Option is subject to the provisions of the Plan, which are incorporated herein by reference. A copy of the Plan as in effect on the
date of the grant of this Stock Option has been furnished to the Participant. By accepting this Stock Option, the Participant agrees to be bound by the terms of the Plan and this certificate. All initially capitalized terms used herein will have the
meaning specified in the Plan, unless another meaning is specified herein. 
  

	7.	 Other Agreements. 

The Company and Participant agree, in consideration of the grant of this Stock Option, and other good and valuable consideration, the receipt
of which is mutually acknowledged, that the provisions of Section 2 shall supersede the provisions of any other agreement between the Company and Participant regarding the vesting and exercise of this Stock Option following a cessation of the
Participant’s Employment by reason of an involuntary termination without Cause or a voluntary termination for Good Cause. 
 IN WITNESS
WHEREOF, the Company has caused this instrument to be executed by its duly authorized officer. 
  

			
	EyePoint Pharmaceuticals, Inc.
		
	By	 	 /s/ Nancy Lurker

		 	Nancy Lurker, President & CEO

 Dated: 10-Jun-2019 

 

			
	Acknowledged and agreed:
		
	By:	 	 /s/ David Jones

		 	David Jones

 Dated: 10-Jun-2019

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