Document:

Exhibit
4.16

 

Executive
Employment Agreement

 

In consideration
of his employment by INNOCOLL PHARMACEUTICALS LTD. (“Company”)
and the compensation and benefits outlined below, and intending to be legally bound, CHARLES
F. KATZER (“Executive”) agrees with Company as follows:

 

		1.	Definitions.
                                         As used in this Agreement, the following terms whether used in the singular
                                         or plural form shall have the meanings set forth below:

 

		1.1	An “Affiliate” of any
                                         Person means any Person directly or indirectly controlling, controlled by or under common
                                         control with such Person including without limitation any direct or indirect Subsidiary
                                         of such Person.

 

		1.2	“Board” means the Management Board of the Company’s
                                         parent company, Innocoll AG.

 

		1.3	“Supervisory Board” means
                                         the Supervisory Board of Innocoll AG.

 

		1.4	“Change in Control” means
                                         either of the following:

 

		(a)	A tender offer, stock purchase,
                                         other stock acquisition, merger, consolidation or recapitalization whereby any Person
                                         or group of Persons, as such term is defined under the United States Securities Exchange
                                         Act of 1934, other than (1) Existing Shareholders, and (2) Executive Management become
                                         the beneficial owners, directly or indirectly, of securities of Innocoll AG representing
                                         more than fifty percent (50%) of the combined voting power of all of Innocoll AG’s
                                         then outstanding securities, or

 

		(b)	Any transfer of all or substantially all of the assets of Innocoll
                                         AG, including without limitation Innocoll AG’s rights under this Agreement, to
                                         any entity where more than fifty percent (50%) of the combined voting power of all of
                                         such entity’s then outstanding securities is owned by a Person or group of Persons
                                         other than (1) Existing Shareholders, and (2) Executive Management.

 

Notwithstanding
the foregoing, no transaction will constitute a Change in Control unless such transaction also constitutes a “change in
ownership” of Innocoll AG or a “change in ownership of a substantial portion of the assets” of Innocoll AG within
the meaning of United States Treasury Regulation Section 1.409A-3(i)(5)(v) or 1.409A-3(i)(5)(vii), respectively.

 

		1.5	“Company’s Business”
                                         means:

 

		(a)	the business of development and
                                         commercialization of products based on collagen based drug delivery technologies, including

 

     

     

    

 

without
limitation, products that are administered by implantation, topically, bucally, orally or intra-ocularly; and

 

		(b)	any other material business conducted
                                         or under development during the Restrictive Period by Company, any Affiliate of Company,
                                         or any current or prospective business partner or collaborator of the Company or Innocoll
                                         AG.

 

		1.6	“Effective Date” means the date that this Agreement
                                         is signed by Executive.

 

		1.7	“Executive Management” means collectively, all Persons
                                         who have been, are or hereafter shall be officers of the Company or Innocoll AG otherwise
                                         in an executive or management position with Company or Innocoll AG.

 

		1.8	“Existing Shareholders” means collectively, all shareholders
                                         of record of Innocoll AG as of the date of this Agreement, all shareholders or general
                                         and limited partners of any shareholder of record of Innocoll AG as of the date of this
                                         Agreement (each such partner or shareholder being hereinafter referred to as “Partner”),
                                         all members of the immediate family of each such Partner, including without limitation,
                                         all parents, children, grandchildren, spouses and siblings thereof, and all spouses of
                                         each of the foregoing, all other Persons, directly or indirectly, owned or controlled
                                         by any Existing Shareholder or Partner or in which any Existing Shareholder or Partner
                                         has any material interest.

 

		1.9	“Exit Date” means the date on which Executive ceases
                                         to be employed by Company or any of its Affiliates.

 

		1.10	“Person” means any association, company, corporation,
                                         estate, individual, limited liability company, limited liability partnership, limited
                                         partnership, family limited partnership, general partnership, individual, trust or other
                                         entity or organization of any nature.

 

		1.11	“Restrictive Period” means the period of time that
                                         commences on the date of this Agreement and ends three hundred sixty-five (365) days
                                         following the Exit Date.

 

		1.12	“Subsidiary” means any corporation of which Company
                                         and/or Innocoll AG owns or controls, directly or indirectly, through one (1) or more
                                         Affiliates or other Subsidiaries, more than fifty percent (50%) of the combined voting
                                         power of all of the outstanding securities of capital stock of such corporation and includes,
                                         without limitation, Innocoll Pharmaceuticals, Ltd., an Irish private limited company,
                                         its subsidiary Syntacoll GmbH, a German limited liability company, Innocoll Technologies
                                         Ltd., an Irish private limited company, and Innocoll, Inc., a Virginia corporation.

 

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		2.	No
                                         Conflicting Agreements. Executive (a) represents to Company that he is not
                                         currently subject to, and shall not hereafter become subject to, any employment agreement,
                                         confidentiality agreement, non-competition agreement, non-disclosure agreement or any
                                         other agreement, covenant, understanding or restriction which would prohibit Executive
                                         from fully observing and performing his duties and responsibilities to Company or would
                                         otherwise in any manner, directly or indirectly, limit or affect the duties and responsibilities
                                         which may now or in the future be assigned to Executive by Company; and (b) represents
                                         to Company that to the best of his knowledge no current employee of Company is currently
                                         subject to any employment agreement, confidentiality agreement, non-competition agreement,
                                         non-disclosure agreement or any other agreement, covenant, understanding or restriction
                                         which prohibits such employee from fully observing and performing his or her duties and
                                         responsibilities to Company or would otherwise in any manner, directly or indirectly,
                                         limit or effect the duties and responsibilities which may now or in the future be assigned
                                         to such employee by Company.

 

		3.	Employment.
                                         Company employs Executive and Executive accepts such employment in accordance
                                         with the terms of this Agreement including without limitation:

 

		3.1	Commencing on the Effective Date and subject to satisfactory
                                         reference and background checks and required documentary proof of Executive’s authorization
                                         to work in the United States, Executive shall serve on a full-time basis as VP, Global
                                         Supply/Procurement of the Company and shall perform all duties and accept all responsibilities
                                         incident to such position as may be reasonably assigned to Executive by the Company’s
                                         Chief Executive Officer or the Board. Executive shall report to the Company’s Chief
                                         Executive Officer and shall devote substantially all of his business time, attention,
                                         and skills to the business and affairs of the Company. Except for domestic and international
                                         travel as reasonably required to perform Executive’s duties, Executive’s
                                         primary work location will be the Company’s headquarters, which is currently located
                                         at 3813 West Chester Pike, Newtown Square, Pennsylvania 19073.

 

		3.2	Simultaneous with the Effective Date, the Board, with the authorization
                                         of the Supervisory Board (or its Compensation Committee), will approve a grant to the
                                         Executive of options to purchase 11,500 ordinary shares under the Innocoll AG 2014 Stock
                                         Option Plan (the “Stock Option Plan”). As provided in the Stock Option Plan,
                                         the options will be issued pursuant to a Grant Letter Agreement between Innocoll AG and
                                         the Executive (the “Grant Letter”) and have an exercise price equal to fair
                                         market value of the ordinary shares of which, at the Company’s discretion (as set
                                         forth in the Grant Letter), will be either (i) 13.25 times the average closing price
                                         of the Company’s ADS on NASDAQ Global Market on the last 10 trading days immediately
                                         preceding the Grant Date, or (ii) 13.25 times the price of Innocoll’s ADS on NASDAQ
                                         Global Market on the Grant Date. The

 

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Grant
Letter will also provide that the options will vest over three (3) years, with l/3rd of the options vesting after the first year
following the Effective Date, and thereafter in equal quarterly installments. Options will be issued out of Innocoll AG’s
existing conditional capital and are subject to all other terms and conditions of the Stock Option Plan, including, but not limited
to, a 4-year mandatory waiting period before any option can be exercised and certain additional performance thresholds.

 

		3.3	For each calendar year of the Executive’s continuing employment
                                         starting in 2016, the Board, with the authorization of the Supervisory Board (or its
                                         Compensation Committee), shall consider an annual grant to Executive of additional options
                                         under the Stock Option Plan or a future stock option plan of the Company then in effect
                                         based upon a variety of factors deemed important to the Supervisory Board including the
                                         Company’s performance and the competitiveness of the Executive’s compensation
                                         within the relevant market. The annual grant shall be in the sole discretion of the Compensation
                                         Committee and the Supervisory Board. The Compensation Committee and the Supervisory Board
                                         shall further have the discretion to issue to the Executive additional equity compensation,
                                         including but not limited to options, as it may determine from time to time and will
                                         consider changes in the capital of the Company when making such decisions.

 

		3.4	For all services rendered by Executive hereunder, so long as
                                         Executive is employed by Company, Company shall pay Executive an annual base compensation
                                         (“Base Salary”) of Three Hundred Fifty Thousand Dollars ($350,000) payable
                                         in installments at such time as Company customarily pays its other U.S. employees and
                                         shall provide Executive with such medical, dental, life, retirement, and disability insurance
                                         benefits as are provided to other U.S. executives of the Company. The Supervisory Board
                                         shall review Executive’s Base Salary at least annually and may from time to time
                                         adjust Executive’s Base Salary in its sole discretion. Nothing contained herein
                                         shall be deemed to establish any specific term of employment.

 

		3.5	Annually throughout the employment relationship, the Supervisory
                                         Board shall establish annual corporate goals and objectives (“Annual Corporate
                                         Goals”) and annual individual goals and objectives (“Annual Individual Goals”)
                                         applicable to Executive for the then current calendar year. In the event that Company
                                         shall fully achieve all of the Annual Corporate Goals and Executive shall fully achieve
                                         all of his Annual Individual Goals applicable to any calendar year, Executive shall be
                                         eligible for a targeted performance bonus (“Annual Target Performance Bonus”)
                                         of forty percent (40%) of Executive’s Base Salary; provided that the Supervisory
                                         Board shall have the discretion to pay an annual bonus to Executive even if Innocoll
                                         AG does not fully achieve all of the Annual Corporate Goals or Executive does not fully
                                         achieve all of his Annual Individual Goals applicable to any calendar year and shall
                                         have the discretion to pay

 

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Executive
an annual bonus in excess of the Annual Target Performance Bonus if Innocoll AG exceeds the Annual Corporate Goals and Executive
exceeds his Annual Individual Goals. Executive’s bonus in any year shall not exceed one hundred fifty percent (150%) of
the Annual Target Performance Bonus. Such Annual Targeted Performance Bonus or other annual bonus as may be determined by the
Supervisory Board in its discretion shall be payable at such time and in such manner during the one hundred twenty (120) day period
immediately following December 31 of such calendar year as the Supervisory Board shall determine in its sole discretion.

 

		3.6	So long as Executive is employed by Company, Executive shall
                                         be entitled to four (4) weeks annual vacation in accordance with such policies as Company
                                         shall from time to time promulgate.

 

		4.	No
                                         Solicitation/Hire. During the Restrictive Period, Executive shall not, either
                                         directly or indirectly, employ or solicit the employment of any Person or engage, solicit
                                         the engagement as a consultant of any Person, who is employed by Innocoll AG, Company
                                         or any of its Affiliates in an executive, management, marketing, scientific or technical
                                         capacity on a full or part-time basis as of the date of termination of the employment
                                         relationship between Company and Executive or within the one (1) year period immediately
                                         preceding the Exit Date.

 

		5.	Covenant-Not-To-Compete.
                                         During the Restrictive Period, Executive shall not, and shall not encourage
                                         or permit any of his Affiliates, or any other Person, directly or indirectly, to:

 

		5.1	engage in competition with, or acquire a direct or indirect interest
                                         or an option to acquire such an interest in any Person engaged in competition with Company’s
                                         Business or Innocoll AG’s business anywhere in the world (other than an interest
                                         of not more than five percent (5%) of the outstanding stock of any publicly traded company);

 

		5.2	serve as a director, officer, employee, consultant, agent or
                                         representative of, or furnish information to, or otherwise facilitate in any way the
                                         efforts of, any Person engaged in competition with Company’s Business or Innocoll
                                         AG’s business anywhere in the world;

 

		5.3	solicit, employ, interfere with or attempt to entice away from
                                         Company, Innocoll AG or any Affiliate of Company any Person who has been employed or
                                         was engaged by Company, Innocoll AG or any such Affiliate in an executive, management,
                                         marketing, scientific or technical capacity in connection with the conduct of Company’s
                                         Business or Innocoll AG’s Business within one year prior to such solicitation,
                                         employment, interference or enticement; or

 

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		5.4	approach for any business or commercial
                                         purpose any Person who competes with or has plans of which Executive is aware to compete
                                         with Company’s Business or Innocoll AG’s Business, or solicit or deal with
                                         any Person who at any time during the one (1) year period immediately preceding the Exit
                                         Date was a customer, client, supplier, agent or distributor of Company, Innocoll AG or
                                         any Affiliate or, as of the Exit Date, was the subject of active Company efforts to become
                                         a customer, client, supplier, agent or distributor of the Company.

 

The
Restrictive Period shall be automatically extended for any period of time during which the Executive has breached, or threatened
to breach, any provisions hereof. The geographic scope of the covenants set forth in this Section 5 shall be worldwide and Executive
acknowledges that the business of Company and its Affiliates is worldwide and therefore the geographic scope of such covenants
is reasonable and necessary to protect the interests of Company and Innocoll AG.

 

		6.	Benefits
                                         Payable Upon Termination of Employment.

 

		6.1	Except as specifically provided in this Agreement or required
                                         by applicable law, upon termination of the employment relationship between Company and
                                         Executive for any reason, all duties and obligations of Company to Executive and all
                                         rights, remedies, compensation, benefits, privileges, grants and options of Executive
                                         shall cease and terminate as of the Exit Date; provided, however, that Executive shall
                                         be entitled to receive the following: (a) payment of accrued but unpaid Base Salary up
                                         to the Exit Date, if any, (b) any Annual Target Performance Bonus earned but unpaid for
                                         the year preceding the year in which the Exit Date falls, (c) unreimbursed business expenses,
                                         and (d) any vested or accrued benefits as of the Exit Date under any benefit plans maintained,
                                         or contributed to, by the Company, or any disability benefits program sponsored by the
                                         Company (excluding for such purposes any stock option or similar plans), subject to the
                                         terms and conditions of each such plan or program.

 

		6.2	Executive shall be entitled to the compensation and benefits
                                         specified in Section 6.3 hereof if Executive’s employment by Company is terminated
                                         (a) by Company, other than by reason of any of the events set forth in Section, 6.4 or
                                         6.5 below, or (b) by Executive as a result of (or in connection with) any of the following:
                                         (i) a material breach by the Company of this Agreement; (ii) a change in Executive’s
                                         position with the Company that materially reduces the Executive’s level of authority,
                                         responsibilities, or duties; or (iii) a material reduction in the Executive’s fixed
                                         annual salary or benefits. In the event that Executive seeks to terminate his employment
                                         pursuant to this Section, he must first provide the Company with thirty (30) days written
                                         notice and an opportunity to cure pursuant to Section 9 of this Agreement. For Executive
                                         to invoke this provision, Executive must provide written notice within thirty (30) days
                                         of

 

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becoming
aware of the fact or circumstance allegedly giving rise to a basis to terminate hereunder and, after the Company’s thirty-day
cure period has expired, Executive must terminate within thirty (30) days after said expiration.

 

		6.3	Upon termination of employment as set forth in Section 6.2 or
                                         Section 8 of this Agreement, and on the condition of signing a separation agreement including
                                         a plenary release in a form acceptable to the Company, Executive shall be entitled to
                                         Base Salary payable in installments and in such amounts as were in effect on the date
                                         of termination of Executive’s employment for twelve (12) months after the date
                                         the employment relationship between Company and Executive ends, provided however, that
                                         Executive’s salary continuation hereunder shall not exceed the number of months
                                         of Executive’s employment.

 

		6.4	Executive shall not be entitled to any compensation or benefits,
                                         including without limitation those referred in Section 6.3 of this Agreement, in the
                                         event that the employment relationship between Company and Executive ends by reason of:
                                         Executive’s admission of any dishonest or illegal act or omission; Executive’s
                                         conviction of any misdemeanor or felony pertaining to or involving dishonesty, harassment
                                         or violence; any negligent act or omission by Executive which has a material adverse
                                         effect upon Company; Executive’s willful misconduct; any representation to Company
                                         by Executive contained in this Agreement is materially false or misleading; Executive’s
                                         failure to implement or observe any lawful directive of the Board or Supervisory Board,
                                         or Executive’s breach, violation or default of any of the covenants, duties or
                                         obligations imposed upon Executive pursuant to this Agreement and the failure to cure
                                         the same (if curable as permitted by Section 9 of this Agreement) within thirty (30)
                                         days after receiving written notice from Company of the same; or Executive’s failure
                                         to fully perform such performance standards as shall be determined from time to time
                                         by the Supervisory Board and the failure to cure the same within thirty (30) days after
                                         receiving written notice from Company of the same.

 

		6.5	Death
                                         or Disability. In the event of the Executive’s death while employed
                                         by the Company, the Company shall pay to the Executive’s estate all compensation
                                         and benefits earned through the date of death. In the event of Executive’s inability
                                         to perform fully his duties and responsibilities to Company to the full extent required
                                         by the Board by reason of illness, injury or incapacity for ninety (90) consecutive days,
                                         or for more than one hundred twenty (120) days in the aggregate during any period of
                                         twelve (12) consecutive calendar months, the Company shall pay to the Executive all compensation
                                         and benefits earned through the date of disability. Additionally, in the event of death,
                                         Executive’s beneficiaries shall be entitled to receive the proceeds from any applicable
                                         policy of life insurance obtained by the Company for the benefit of such beneficiaries.

 

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In
the event of disability, Executive shall be entitled to receive the proceeds from any applicable disability insurance policy obtained
by the Company for the benefit of the Executive.

 

		6.6	Upon termination of Executive’s employment for any reason,
                                         Executive agrees to resign from any and all other positions, boards, and committees of
                                         the Company and its Affiliates and all Company property shall be returned by Executive
                                         to Company within three (3) days of such termination. All other compensation and benefits
                                         of any nature provided by Company not otherwise addressed in this Agreement shall terminate
                                         as of the date of termination of Executive’s employment.

 

		7.	Confidential
                                         Information/Developments.

 

		7.1	Executive recognizes and acknowledges that by reason of his employment
                                         by and service to Company, he shall have access to financial, marketing, scientific,
                                         technical, proprietary and other confidential information of Company and its Affiliates,
                                         including information and knowledge pertaining to Company’s standard operating
                                         procedures, processes and formulae, whether patentable or not, Company’s pharmaceutical
                                         procedures, products and services offered, research ideas, product testing and development,
                                         clinical test results, methods, inventions, innovations, recipes and formulae, designs,
                                         ideas, plans, trade secrets, know-how, distribution and sales methods and systems, sales
                                         and profit figures, customer and client lists, supplier lists, confidential information
                                         obtained from third parties and relationships between Company and its Affiliates, distributors,
                                         customers, clients, suppliers and others who have business dealings with Company and
                                         its Affiliates and other information not known to Company’s competitors (all of
                                         the foregoing being hereinafter referred to as “Confidential Information”).
                                         Executive acknowledges that the Confidential Information is a valuable and unique asset
                                         of Company and covenants that he shall not, either during the period of time during which
                                         Executive is employed by Company or at any time thereafter, disclose any such Confidential
                                         Information to any Person for any reason whatsoever without the prior written authorization
                                         of the Board, unless such information is in the public domain through no fault of Executive
                                         or except (a) as may be required by law with prior notice to Company, or (b) to the extent
                                         that such disclosure is provided on a “need-to-know” basis in the proper
                                         service of Company’s business interests.

 

		7.2	Executive further recognizes and acknowledges that, in light
                                         of his particular duties and responsibilities to Company, all inventions, discoveries,
                                         programs, programming techniques, underlying program designs and/or concepts, machinery,
                                         products, processes, computer hardware, information systems, software (including without
                                         limitation source code, object code, documentation, diagrams and flow charts) and improvements,
                                         whether patentable or not, which have been or may in the

 

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future
be made by him during the course of his duties to Company which relate to any business or activity of Company, whether solely
or jointly with others, whether during or outside normal working hours and whether on or off the premises of Company (all of the
foregoing being hereinafter referred to as “Inventions and Discoveries”), are and shall be and remain the exclusive
property of Company, whether or not disclosed, assigned or transferred at the time of the termination of the employment relationship
established pursuant to this Agreement.

 

		7.3	Without request, Executive shall promptly and fully disclose
                                         to the Board and/or Supervisory Board and to no other Person the Inventions and Discoveries
                                         referred to in Section 7.2 above and shall assign to Company all of his rights throughout
                                         the world to such Inventions and Discoveries. Upon the request of Company, either during
                                         the period of time during which Executive is employed by Company or thereafter, Executive
                                         or his personal representatives, at the sole expense and subject to the exclusive control
                                         of Company, shall apply or join with Company in applying for a patent, trademark, trade
                                         name or registered mark or design in all such countries of the world as Company may in
                                         its sole discretion determine, and further shall execute all papers necessary therefore
                                         including without limitation assignments to Company, or its nominee, without further
                                         consideration.

 

		8.	Termination
                                         of Employment in Connection with a Change in Control. If Executive’s
                                         employment is terminated within ninety (90) days before or after a Change in Control
                                         for any reason other than (a) Cause, or (b) Executive’s resignation that does not
                                         qualify under Section 6.2, then any and all of the shares of Innocoll AG owned by Executive
                                         that remain subject to forfeiture shall automatically become no longer subject to forfeiture
                                         upon the latter to occur of: (i) the occurrence of the Change in Control, or (ii) the
                                         termination of Executive’s employment as provided above; provided, however, that
                                         if Executive’s resignation qualifies under Section 6.2, Executive must comply with
                                         the thirty (30) days written notice and opportunity to cure requirements of Section 6.2,
                                         and in such event, Executive shall be entitled to the compensation and benefits specified
                                         in Section 6.3 hereof, as well as, the acceleration of vesting of his equity compensation,
                                         subject to limitations imposed under German law.

 

		9.	Remedies.
                                         Except as otherwise provided in this Agreement, upon any breach, violation
                                         or default by either party to this Agreement (“Defaulting Party”) of any
                                         of the representations, covenants, duties or obligations imposed upon such Defaulting
                                         Party pursuant to this Agreement, and, if curable, the failure of such Defaulting Party
                                         to cure such breach, violation or default within ten (10) days of the date of the giving
                                         of notice by the other party to this Agreement (“Non-Defaulting Party”),
                                         the Non-Defaulting Party shall have all rights and remedies which are contained in this
                                         Agreement and all other rights and remedies which are at law, in equity or by statute
                                         permitted or provided, all such rights and remedies to be cumulative and concurrent.
                                         Notwithstanding anything to the

 

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contrary,
Executive shall have no right to cure any breach, violation or default of any representation, covenant, duty or obligation imposed
upon Executive pursuant to this Agreement which arises out of, pertains to or constitutes any dishonest or illegal act or omission,
any conviction of any misdemeanor or felony pertaining to or involving dishonesty, harassment or violence, commission of any willful
misconduct or any breach, violation or default upon the provisions of Sections 5 or 7 of this Agreement.

 

		10.	Disability
                                         Payments. In the event that Company shall obtain or procure any disability
                                         or similar insurance which makes payments to Executive (“Disability Payments”)
                                         on account of Executive being unable to perform his duties and obligations to Company
                                         by reason of illness, injury or incapacity, the aggregate amount of such Disability Payments
                                         shall constitute a credit on a dollar for dollar basis against all amounts, including
                                         without limitation Base Salary, owing by Company to Executive and shall decrease on a
                                         dollar for dollar basis such amounts owing by Company, and Company shall be released
                                         to such extent. Nothing contained in this Section shall impose any duty or obligation
                                         upon Company to obtain any such insurance.

 

		11.	Papers.
                                         All correspondence, memoranda, notes, records, reports, drawings, lists, photographs,
                                         plans and other papers and items received or made by Executive in connection with his
                                         employment by Company shall be the property of Company. Executive shall deliver all such
                                         materials, and all copies thereof in whatever form stored, to Company upon request of
                                         Company and, even if it does not request, when his employment by Company ends.

 

		12.	Compliance
                                         with 409A and 280G of the United States Internal Revenue Code.

 

		12.1	The intent of the parties is that
                                         all payments of compensation and benefits under this Agreement will comply with Section
                                         409A of the United States Internal Revenue Service Code (the “Code”) and
                                         regulations and guidance promulgated thereunder to the extent such compensation and benefits
                                         are not exempt from Section 409A of the Code as short-term deferrals or otherwise. Accordingly,
                                         to the maximum extent permitted, this Agreement shall be interpreted to be in compliance
                                         with Section 409A of the Code.

 

		12.2	If and to the extent required to comply with Section 409A of
                                         the Code, with respect to any payments or benefits required to be paid on account of
                                         Executive’s termination of employment, “termination of employment”
                                         or words to similar effect shall mean “separation from service” as defined
                                         in Section 409A of the Code and regulations issued thereunder.

 

		12.3	Notwithstanding any provision of this Agreement to the contrary,
                                         if Executive is considered a specified employee (as defined below) at the time of his
                                         separation from service, under such procedures as established by Company in accordance
                                         with Section 409A of the Code, all payments

 

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hereunder
that are both treated as deferred compensation as defined in applicable regulations issued under to Section 409A of the Code (after
taking into account any applicable exemptions, including without limitation the exemption for short-term deferrals as described
in United States Treasury Regulation 1.409A-1(b)(4) and the exemption for separation pay plans described in Unites States Treasury
Regulation Section 1.409A-1(b)(9)(iii)) and are payable on account of Executive’s separation from service (for any reason
other than his death) may not commence earlier than the earlier of (i) six (6) months after the date of Executive’s separation
from service or (ii) the date of Executive’s death. Therefore, in the event this provision is applicable to Executive, any
such payment to which the preceding sentence applies that would otherwise be paid to Executive within the first six (6) months
following his separation from service shall be accumulated and paid to Executive or his estate in a lump sum on the first regularly
scheduled pay date following the first day of the seventh calendar month that begins following Executive’s separation from
service (or, if earlier, upon Executive’s death). All subsequent distributions shall be paid in the manner otherwise specified
in this Agreement. The term “specified employee” shall have the meaning set forth in Section 409A of the Code and
regulations thereunder.

 

		12.4	Each payment of remuneration or benefits paid to Executive or
                                         his estate following his separation from service pursuant to Section 6.3 of this Agreement
                                         shall be treated as a separate payment for purposes of Section 409A of the Code and the
                                         regulations thereunder. To the extent that the payment of any remuneration or benefits
                                         to Executive pursuant to Section 6.3 of this Agreement is conditioned on Executive’s
                                         execution of a plenary release of all claims, such release must be executed and the applicable
                                         revocation period provided for thereunder must expire (without any revocation of such
                                         release) no later than sixty days after Executive’s separation from service. As
                                         soon as practicable after the expiration of the applicable revocation period under the
                                         release expires without any revocation of such release (but no later than March 15 of
                                         the calendar year following the calendar year in which Executive’s separation from
                                         service occurred), the Company will promptly pay Executive (or his estate if his has
                                         died) any amounts that were conditioned upon his execution of a complete and general
                                         release and which were otherwise due and payable at the time such revocation period expires.

 

		12.5	To the extent that any expense reimbursement, fringe benefit,
                                         in-kind benefit (including any reimbursement described in Section 6.3 of this Agreement)
                                         or any similar benefit to which Executive is entitled pursuant to this Agreement or pursuant
                                         to any other plan or arrangement in which Executive participates during his period of
                                         employment or thereafter provides for a “deferral of compensation” within
                                         the meaning of Section 409A of the Code, (i) the amount of expenses eligible for reimbursement
                                         provided to Executive during any calendar year shall not affect the amount

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of
expenses eligible for reimbursement or in-kind benefits provided to Executive in any other calendar year, (ii) the reimbursements
for expenses for which Executive is entitled to be reimbursed shall be made on or before the last day of the calendar year following
the calendar year in which the applicable expense is incurred, and (iii) the right to payment or reimbursement or in-kind benefits
hereunder may not be liquidated or exchanged for any other benefit.

 

		12.6	To the extent that the payments and
                                         benefits provided under this Agreement and benefits provided to, or for the benefit of,
                                         Executive under any other plan or agreement of the Company or any of its Affiliates (such
                                         payments or benefits are collectively referred to as the “Payments”)
                                         would be subject to the excise tax (the “Excise
                                         Tax”) imposed under Section 4999 of the Code or any successor provision
                                         thereto, or any similar tax imposed by state or local law, the Payments shall be reduced
                                         (but not below zero) to the extent necessary so that no Payment to be made or benefit
                                         to be provided to Executive shall be subject to the Excise Tax (such reduced amount is
                                         hereinafter referred to as the “Limited
                                         Payment Amount”),
                                         but only if such reduction results in a higher after-tax payment to Executive after taking
                                         into account the Excise Tax and any additional taxes Executive would pay if such Payments
                                         and benefits were not reduced. The determination of whether the Payments shall be reduced
                                         to the Limited Payment Amount pursuant to this Agreement and the amount of such Limited
                                         Payment Amount shall be made by the Company’s regular accounting firm (the “Accounting
                                         Firm”). The Accounting Firm shall provide its determination (the “Determination”),
                                         together with detailed supporting calculations and documentation to the Company and Executive
                                         within thirty (30) days of the Exit Date or such other time as specified by mutual agreement
                                         of the Company and Executive. The Determination shall be binding, final and conclusive
                                         upon the Company and Executive.

 

		13.	Enforcement.
                                         Executive acknowledges that any breach, violation or default by Executive
                                         of any of the representations, duties or obligations imposed upon Executive pursuant
                                         to this Agreement may cause Company immediate and irreparable harm for which Company’s
                                         remedies at law (such as money damages) will be inadequate. Company shall have the right,
                                         in addition to any other rights it may have, to obtain an injunction to restrain any
                                         breach or threatened breach of this Agreement. Should any provision of this Agreement
                                         be adjudged to any extent invalid by any competent tribunal, that provision shall be
                                         deemed modified to the extent necessary to make it enforceable. Company may contact any
                                         Person with or for whom Executive works after his employment by Company ends and may
                                         send that Person a copy of this Agreement.

 

		14.	Binding
                                         Effect. Executive’s undertakings hereunder shall bind him and his heirs
                                         and legal representatives regardless of (a) the duration of his employment by Company,
                                         (b) any change in his title, duties or the nature of his employment,

 

    	 	12	 

     

    

 

(c)
the reasons for or manner of termination of his employment, (d) the amount of his compensation, or (e) Change in Control. The
duties and responsibilities of Executive to Company are of a personal nature and shall not be assignable or delegatable in whole
or in part by Executive. Company shall have the absolute right to assign all or any part of this Agreement without the consent
of Executive. In the event of any assignment by Company of this Agreement, Company’s assignee shall have the right to enforce
each of the provisions of this Agreement, including without limitation, Sections 4, 5, 7, 9, 11, 12 and 13 of this Agreement and
in such event, as used in this Agreement, “Company” shall include without limitation any assignee or other successor
to its business or assets.

 

		15.	Miscellaneous.
                                         This Agreement (a) supersedes all prior understandings, discussions, negotiations,
                                         correspondence and other writings and constitutes the entire understanding between Company
                                         and Executive about the subject matter covered by this Agreement, (b) may be modified
                                         or varied only in writing signed by Company and Executive, (c) shall survive the termination
                                         of the employment relationship between Company and Executive, (d) is subject to and contingent
                                         and conditioned upon approval by the Supervisory Board and shall not be binding upon
                                         Company unless and until such approval by the Supervisory Board is given, and (e) shall
                                         be governed by Pennsylvania law without giving effect to any conflict of laws provisions,
                                         except to the extent that mandatory rules of German corporate law are controlling.

 

		16.	Jurisdiction.
                                         The parties hereto agree that any legal suit, action, or proceeding between
                                         them arising out of or relating to this Agreement shall be brought in the appropriate
                                         state or federal court in or for the Pennsylvania county in which the Company’s
                                         principal U.S. office is located or, if none, then Chester County, Pennsylvania and the
                                         parties each waive any defense as to personal jurisdiction therein.

 

    	 	13	 

     

    

 

IN
WITNESS WHEREOF, and INTENDING TO BE LEGALLY BOUND HEREBY,
the parties to this Agreement have executed this Agreement as of the 14th day of December, 2015.

 

	Innocoll
    Pharmaceuticals, Ltd.	 
	 	 
	 	 
	Name:	 
	Title:	 
	 	 
	Executive:	 
	 	 
	/s/ Charles F. Katzer	 
	Charles F. Katzer	 

 

    	 	14Exhibit 4.19

 

The following

 

LEASE AGREEMENT

 

is concluded

 

by and between

 

Thomas Angerer, Auf dem Gries 75, 93342 Saal a. d. Donau,
tax ID number 126/201/00240

 

-hereinafter referred to as the Landlord-

and

 

Syntacoll GmbH, represented by Dr. (Ms.) Dietrich, Donaustraße
24, 93342 Saal a. d. Donau

 

- hereinafter referred to as the Tenant-

 

Contract no.: M001

 

Article 1 – Leased property

 

Landlord agrees to rent out to Tenant, whereas the Tenant agrees
to rent from Landlord, leased space known as and located at Auf dem Gries 75, 93342 Saal a. d. Donau., land parcel number 987,
in the communal district of Saal,

 

consisting of the following premises and other areas:

 

		-	the existing workshop building comprising a ground floor and upper floor, including a secondary area plus the entire remaining
area of the property

		-	the entire undeveloped area of the property comprising 45 parking spaces

 

Article 2 – Lease term

 

		1.	The Landlord-Tenant relationship (i.e. the lease agreement) shall commence on the date of handover which will take place at
the earliest on October 01, 2015, but not later than January 01, 2016, or five (5) months following official approval by the competent
authorities. The date of handover shall be notified to Tenant prior to the actual handover.

 

A written record containing the date of handover
shall be prepared for the handover which shall be made an integral part of this agreement.

 

The Landlord-Tenant relationship (i.e. the lease
agreement) will be concluded for a fixed term of fifteen (15) years (fixed lease term). Sub-areas of the leased property may be
handed over prior to the actual date of handover.

 

		2.	Tenant shall be granted two opportunities to exercise its right to request renewal of the lease term by an additional five
(5) years in each case (option). Tenant’s non-exercise of this right shall be communicated in writing, by registered letter
(certified mail), not later than twelve (12) months prior to the expiry of the fixed lease term or the expiry of the renewed term
of lease. The date determining whether the required time limit has been complied with shall be the date on which the declaration
is received by the . The certificate of service issued by the relevant postal service will be deemed an adequate proof of delivery.

 

    	 	1	 

     

    

 

Article 3 – Lease purpose

 

The Tenant intends to use the leased property as an office,
a laboratory, and a warehouse, and for the production of pharmaceutical products and products under the German Medical Device Act
[MPG]. Any changes to the intended purpose shall be subject to the Landlord’s prior written consent. The Landlord’s
consent shall not be withheld except for an important reason.

 

Article 4 – Rent

 

The monthly rent charged shall be € 15,494.50 plus the
statutory Value Added Tax (V.A.T.) applicable from time to time. With the current V.A.T. of 19%, equaling € 2.943,96, the
gross rent shall be € 18,438.46.

 

Article 5 – Payment of rent

 

The obligation to payment of the rent shall commence on the
date of handover of the leased property.

 

The rent shall be payable monthly in advance, not later than
the third (3rd) day of each month, and shall be paid to the Landlord to the following banking account:

 

IBAN:

BIC:

 

Article 6 – Ancillary costs (i.e. maintenance expenses
& utilities costs)

 

		1.	In addition to rent, the Tenant shall bear all ancillary costs (i.e. maintenance expenses & utilities costs). These ancillary
costs shall be deemed to include any and all overhead & operating expenses as contemplated by Article 2 of the German Regulation
on Operating Costs [BetrKV]. The Parties to this agreement are aware of the fact that the German Regulation on Operating
Costs has been drawn up for residential property (i.e. housing quarters). The Parties hereto agree, however, that the costs specified
in the German Regulation on Operating Costs are to be understood in a broader sense commensurate with the commercial use of the
property.

 

The Parties agree that the ‘other costs’
specified below shall also be deemed to be included in the ancillary costs (i.e. maintenance expenses & utilities costs), and
that the term ‘recurring periodic charges’ shall be understood to include the costs for e.g. for maintenance works,
examinations or inspections under public law, or operating & maintenance resources:

 

		-	insurance on buildings (Appendix: insurance certificate issued by Allianz insurers)

		-	real property tax

 

Article 7 – Rent adjustment

 

In the event the consumer price index for Germany (CPI) for
the 2010 base year equaling 100 percentage points increases or decreases by more than s5 points compared to the figure valid on
the date of handover of the Landlord-Tenant relationship (i.e. the lease agreement) or compared to the figure valid on the date
of the last rent adjustment, the rent will be adjusted automatically in accordance with the increase in percentage points. The
same applies to the date of occurrence of any change in the index, even retroactively.

 

Once the automatic adjustment clause (i.e. the escalator clause)
has been applied, it shall become applicable again upon every occurrence of the relevant condition.

 

    	 	2	 

     

    

 

No rent adjustment will be made for the first ten (10) years
of the Landlord-Tenant relationship (i.e. the lease agreement).

 

Article 8 – Refundable security deposit

 

		1.	As security for all of Landlord’s claims under this contract Tenant agrees to provide a security deposit in the amount
of three (3) months’ rent (€ 15,494.50 x 3 = € 46,483.50) collaterized by a guarantee of a bill of exchange.

 

The refundable security deposit shall not be interest-bearing.

 

Article 9 – Taxes, dues, insurances

 

		1.	Tenant agrees to bear all taxes and dues associated with the commercial operation.

 

		2.	Tenant agrees to take out adequate insurance to insure the leased equipment against fire, fire liability, and burglary including
vandalism and water pipe damage and to take out commercial third party liability insurance (including product liability).

 

Article 10 – Cosmetic repairs, servicing, maintenance
and repair

 

		1.	Cosmetic repairs, where necessary, shall be performed by Tenant at Tenant’s expense.

 

		2.	Tenant agrees to bear the costs for any and all maintenance works, repairs or renovations performed to the structure and/or
roofing of the leased property occasioned by Tenant’s use of the leased property, including any maintenance works, repairs
or renovations of the accessories or the equipment and facilities of the leased property (e.g. toilets, radiators, lighting fixtures,
door systems, etc.), at Tenant’s own expense, without this being dependent on any fault of the Tenant.

 

The term ‘maintenance works’ shall be deemed to
include all measures necessary to keep the leased property in a condition conformant with the contract and to prevent damages,
and shall be limited to an annual net amount of € 12,500.00.

 

Landlord agrees to assign to Tenant, to the extent Tenant has
undertaken servicing and maintenance works to the leased property including the accessories contained therein, any and all of its
warranty claims against the work contractor who built the leased property and/or the accessories contained therein on the Landlord’s
behalf. The Landlord agrees to provide the Tenant will all information and documents required for that purpose.

 

Article 11 – Reconstruction measures

 

The Landlord agrees to reconstruct the rented premises in conformance
with the Tenant’s needs. It is explicitly pointed out for clarification purposes that the Landlord is not liable for the
installation of a forced ventilation system and/or an air conditioning system. The Landlord agrees to carry out the relevant reconstruction
works in accordance with the planning specifications by Architekturbüro Jellbauer architect’s office, upon consultation
with the Tenant’s planners; said reconstruction works will be carried out by the Landlord either on its own or via an enterprise
contracted by the Landlord.

 

It is understood and acknowledged by the Parties hereto that
the costs for these reconstruction works – with the exception of the costs for air conditioning und forced ventilation –
will not exceed the net total amount of € 1,000,000.00.

 

    	 	3	 

     

    

 

Tenant agrees to contribute a share of € 500,000.00 net
to said reconstruction costs.

 

The building specifications and plans are an integral part of
the lease agreements and are attached as an Annex to this Agreement.

 

The Landlord shall be obliged to reimburse the contribution
to the building costs granted by the Tenant in case the Landlord terminates Landlord-Tenant relationship (i.e. the lease agreement)
in the absence of a material reason for which the Tenant is responsible, or in case the Landlord-Tenant relationship (i.e. the
lease agreement) is terminated by the Tenant for a reason for which the Landlord is responsible. The Landlord shall be released
from payment of 1/60 of the entire amount repayable for each complete month the Landlord-Tenant relationship (i.e. the lease agreement)
continues to persist after the contribution to the building costs was granted.

 

Article 12 – Repairs and structural alterations

 

		1.	The Landlord shall be entitled to perform any repairs or structural alterations necessary to preserve the house or rented premises
or to avert imminent danger or to eliminate damages even without the Tenant’s prior consent. However, the Landlord agrees
to notify the Tenant in writing within four (4) months prior to the commencement of any such works, and to notify the Tenant promptly
in case of imminent danger. The Tenant agrees to keep the relevant parts of the leased property in accessible condition and to
refrain from obstructing or delaying the execution of the works.

 

		2.	The Landlord agrees to proceed as carefully as possible while carrying out the works to keep any interference with the Tenant’s
operations to the bare minimum.

 

Article 13 – Subletting

 

As a general rule, subletting –including the subletting
of partial areas- shall be permitted. The sole exemption from this rule shall be waste management and recycling operations.

 

Article 14 – Insurance

 

Tenant agrees to take over and upgrade the existing natural
hazards insurance (elementary insurance) (purchased from Allianz Versicherungs-AG insurers). Reinsurance in the amount of 1.5 m
Euros will be taken out as collateral for the investments spent on the installations made by the Tenant.

 

In the event of damage or loss (i.e. in the event of an insurance
claim this amount will be disbursed directly to Innocoll Pharmaceuticals.

 

If the building is destroyed in case of a natural disaster,
the Landlord agrees to restore the building within a period of twelve (12) months. The Landlord-Tenant relationship (i.e. the lease
agreement) shall remain unaffected in such as case.

 

Article 15 – Landlord’s liability und Tenant’s
duty to make the premises safe for persons or vehicles

 

		1.	Landlord’s liability to payment of damages regardless of negligence or fault shall be excluded. Landlord shall be liable
to payment of damages only in cases of willful intent and/or gross negligence. In cases of minor negligence, Landlord shall be
liable to payment of damages only in case of breach of material contractual obligations (‘cardinal duties').

 

    	 	4	 

     

    

 

		2.	Landlord’s liability for cases of minor negligence, despite any breach of material contractual obligations, shall not
be excluded for damages arising from injury to life, body and health which result from the grossly negligent breach of duty on
the part of the Landlord or from the intentional or grossly negligent violation of the duties on the part of the Landlord’s
legal representative(s) or vicarious agent(s).

 

		3.	Tenant agrees to assume the duty to make the premises safe for persons or vehicles, both throughout the entire leased property
and in the access area leading up to the leased property. In particular, Tenant agrees to assume the duty to remove snow and ice
in the access area leading up to the leased property. Tenant agrees to indemnify and hold the Landlord harmless from any claims
for damages arising from its duty to make the premises safe for persons or vehicles, except in cases where the damage arising from
the breach of the duty to make the premises safe for persons or vehicles results from Landlord’s omission to immediately
rectify any structural defects notified to the Landlord by the Tenant.

 

Article 16 – Extraordinary termination

 

		1.	Neither of the Parties hereto may terminate this contract during the term thereof without observance of the period of notice
except for good cause shown.

 

		2.	Good cause shall be deemed to exist for the Landlord notably if Tenant‘s payment of the rent is delayed for a period
of more than one (1) month following receipt of Landlord’s written reminder.

 

		3.	Good cause shall be deemed to exist for the Tenant notably if the Landlord fails to comply with its obligation to retrofit
or service the premises as per official regulatory requirements, despite a written warning and the setting of a deadline.

 

Article 17 – Return of the leased property

 

Tenant shall not have the right to remove any modifications,
attachments and installations or any equipment installed either by the Tenant or by the Landlord at the Tenant’s request
(‘ius tollendi‘).

 

Tenant agrees to remove said equipment at the Landlord’s
demand on termination of the Landlord-Tenant relationship (i.e. the lease agreement) in a technically appropriate and professional
manner and to reinstate the leased property to a condition where only the building measures introduced by the Landlord remain in
the leased property. Any costs incurred as a result thereof shall be borne by the Tenant. The Tenant shall not be entitled to any
claims for compensation or damages against the Landlord for any objects which were left behind.

 

The only obligation to return which shall persist after termination
of the Landlord-Tenant relationship (i.e. the lease agreement) is the obligation to return the passage or passageway from the Angerer
object to the Sipmeier object.

 

Article 18 – Written-form requirement / ineffectiveness
/ applicable law

 

		1.	Any modifications or amendments to this contract must be made in writing to be effective. Any additional agreements, informal
understandings or subsequent amendments, whether verbal or by telephone, shall not take effect unless expressly formulated in writing

 

		2.	Should any of the provisions contained in this contract be or become invalid or ineffective for whatever reason, the Parties
hereto agree to replace the ineffective provision with an effective provision coming as close as possible to the content of the
original provision. Moreover, the

 

    	 	5	 

     

    

 

invalidity of individual provisions in this contract
shall not bring about the invalidity or ineffectiveness of the remaining contractual agreements.

 

		3.	This lease agreement shall be governed exclusively by German law.

 

Given in Saal a. d. Donau on this the __________________ (Date)

 

	/s/ Thomas Angerer	 	/s/ Alexandra Dietrich
	Thomas Angerer, Landlord	 	Dr. (Ms.) Dietrich, acting as representative for the Tenant, to wit Syntacoll GmbH

 

    	 	6

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