Document:

KALA_Ex10_21

		
			Exhibit 10.21
		

		
			 
		

		
			EXECUTION VERSION
		

		
			 
		

		
			Confidential Materials omitted and filed separately with the
		

		
			Securities and Exchange Commission. Double asterisks denote omissions.
		

		
			 
		

		
			FIRST AMENDMENT TO THE COMMERCIAL SUPPLY AGREEMENT
		

		
			 
		

		
			This First Amendment to Commercial Supply Agreement (the “First Amendment”) is made as of  February 16,  2018 ("First Amendment Effective Date") by and between Kala Pharmaceutical Inc. a Delaware corporation with offices located at 100 Beaver Street, #201, Waltham, Massachusetts 202453 USA ("Client") and Catalent Pharma Solutions, LLC, a Delaware corporation with offices located at 14 Schoolhouse Road, Somerset, New Jersey 08873 ("Catalent").  Each of Client and Catalent may be referred to as a Party, and collectively as the Parties.
		

		
			 
		

		
			WHEREAS, the Parties entered into a Commercial  Supply Agreement dated June 27, 2016 (the "Agreement"), pursuant to which Catalent provides services to Client;  and
		

		
			 
		

		
			WHEREAS, the Parties wish to amend certain terms of the Agreement;
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the mutual promises contained herein, and for good and valuable consideration, the receipt and sufficiency thereof are hereby acknowledged, the Parties do hereby agree as follows:
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			All capitalized terms used herein but not otherwise defined have the same meaning as set forth in the Agreement.

		
			 
		

			
	
			
				 2.
			

			
	
			
			The Parties hereby agree to amend and replace Attachment C with the revised Attachment C, attached hereto.

		
			 
		

			
	
			
				 3.
			

			
	
			
			This First Amendment may be executed in counterparts, each of which is deemed an original, but all of which constitute one and the same instrument.

		
			 
		

		
			IN WITNESS WHEREOF, the Parties hereto have duly executed this First Amendment as of the First Amendment Effective Date.
		

		
			 
		

			
					
						Kala Pharmaceuticals, Inc.

					
					
						    

					
					
						Catalent Pharma Solutions, LLC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Vincent R. Kosewski

					
					
						 

					
					
						By:

					
					
						/s/ Roy Satchell

				
	
					
						Name:

					
					
						Vincent R. Kosewski

					
					
						 

					
					
						Name:

					
					
						Roy Satchell

				
	
					
						Title:

					
					
						Sr. VP Mfgr & Supply

					
					
						 

					
					
						Title:

					
					
						SVP R&D

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Hongming Chen

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Name:

					
					
						Hongming Chen, ScD

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Title:

					
					
						Chief Scientific Officer

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			1

		

 

		

			EXECUTION VERSION

		

		

			 

		

		

		
			ATTACHMENT C
		

		
			 
		

		
			UNIT PRICING, FEES AND MINIMUM REQUIREMENT
		

		
			 
		

		
			Commercial pricing for 1st year surgical products at smaller batches:
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						KPI-121,

					
					
						 

					
					
						[**]

					
					
						[**]

					
					
						[**]

				
	
					
						1% Surgical Product

					
					
						Sterile Topical Eye Drops: 3.2 mL fill in 5 cc multidose bottle in [**] L batches

					
					
						[**]

					
					
						[**]

					
					
						[**]

				
	
					
						 

					
					
						 

					
					
						[**]

					
					
						[**]

					
					
						[**]

				

		
			 
		

			
	
			
				 ·
			

			
	
			
			[**] batches per campaign

			
	
			
				 ·
			

			
	
			
			No split batches at the [**]L scale, batch can be run to fill either trade or physician samples

		
			 
		

			
					
						Commercial Unit Pricing after scale up

				
	
					
						Product

					
					
						Dosage Form / Unit Strength

					
					
						Annual Unit Tiers

					
					
						Bulk Price

					
					
						Fully

				
	
					
						Packaged1

				
	
					
						KPI-121,

					
					
						Sterile Topical Eye Drops: 3.2 mL fill in 5 cc multidose bottle in [**] L batches

					
					
						[**]

					
					
						[**]

					
					
						[**]

				
	
					
						1% Surgical Product

					
					
						[**]

					
					
						[**]

					
					
						[**]

				
	
					
						 

					
					
						[**]

					
					
						[**]

					
					
						[**]

				
	
					
						KPI-121, 0.25% Dry Eyes Product

					
					
						Sterile Topical Eye drops/8.2 mL fill in a

					
					
						[**]

					
					
						[**]

					
					
						[**]

				
	
					
						 

					
					
						10 cc multidose bottle in [**]L Batches

					
					
						[**]

					
					
						[**]

					
					
						[**]

				
	
					
						 

					
					
						 

					
					
						[**]

					
					
						[**]

					
					
						[**]

				

		
			 
		

		
			
		

		
			

		 

		

			2

		

 

		

			EXECUTION VERSION

		

		

			 

		

		

			
	
			
				 ·
			

			
	
			
			Minimum yield criteria will not apply at this scale

			
	
			
				 ·
			

			
	
			
			Development of scaled-up process, and scaled up PV batches, will be conducted by 1 year after small scale PV batches are completed

		
			 
		

			
					
						Sublotting for finished Products

				
	
					
						Product

					
					
						Sublotting Samples2

					
					
						Sublotting
Fee/Batch

					
					
						Bulk Price

					
					
						Fully
Packaged1

				
	
					
						KPI-121, 1% Surgical
Product

					
					
						Sterile Topical eye drops -
Sample -11.5 mL in 5 cc
multidose bottle

					
					
						[**]

					
					
						[**]

				
	
					
						KPI-121, 0.25% Dry Eyes
Product

					
					
						Sterile Topical Eye drops -
Sample - 2.7mL in a 10ml cc
multidose bottle

				

		
			1 Packaging will consist of wrap around label, individual carton and insert
		

		
			2 The minimum for a sublotted batch will be [**] percent ([**]%) of total units in a Batch.
		

			
	
			
				 ·
			

			
	
			
			One unit (“Unit”) is one multi-dose bottle of 5cc or 10cc containing 1.5ml, 2.7ml, 3.2 mL or 8.2mL of Product.

			
	
			
				 ·
			

			
	
			
			[**].

		
			 
		

			
					
						MINIMUM REQUIREMENT

				
	
					
						Minimum Requirement Year

					
					
						Aggregate Product Minimum Requirement

				
	
					
						 

					
					
						1% Surgical Product, Units (MM)

					
					
						0.25% Dry Eyes Product, Units (MM)

				
	
					
						Minimum Requirement Year 1*

					
					
						[**]

					
					
						[**]

				
	
					
						Minimum Requirement Year 2

					
					
						[**]

					
					
						[**]

				
	
					
						Minimum Requirement Year 3

					
					
						[**]

					
					
						[**]

				
	
					
						Minimum Requirement Year 4

					
					
						[**]

					
					
						[**]

				
	
					
						Minimum Requirement Year 5

					
					
						[**]

					
					
						[**]

				
	
					
						Minimum Requirement Year 6

					
					
						[**]

					
					
						[**]

				
	
					
						Minimum Requirement Year 7

					
					
						[**]

					
					
						[**]

				
	
					
						Minimum Requirement Year 8

					
					
						[**]

					
					
						[**]

				

		
			*Any Units purchased by Client for resale shall count towards the Minimum Requirement, even if purchased by Client prior to Minimum Requirement Year 1.
		

		 

		

			3EX-10.1

 Exhibit 10.1 

REDEMPTION AGREEMENT 

REDEMPTION AGREEMENT (this “Agreement”), dated as of the 30th day of
March, 2018, by and between M&N Group Holdings, LLC, a Delaware limited liability company having an address at 290 Woodcliff Drive, Fairport, New York 14450 (“Group Holdings”), and Manning & Napier Group, LLC, a
Delaware Limited Liability Company having an address at 290 Woodcliff Drive, Fairport, New York 14450 (the “Company”). 

W I T N E S S E T H: 

WHEREAS, in connection with a series of reorganization transactions, including the reorganization of the capital structure of a group of
privately-held, affiliated companies comprised of MNA Advisors, Inc. (f/k/a Manning & Napier Advisors, Inc., “MNA”), M&N Advisory Advantage Corporation (f/k/a Manning & Napier Advisory Advantage Corporation), M&N
Alternative Opportunities, Inc. (f/k/a Manning & Napier Alternative Opportunities, Inc.) and Manning & Napier Capital Company, LLC (collectively, the “Affiliated Companies”), certain ownership interests of the
Company held by the shareholders of the Company (the “Shareholders”) will vest and be eligible for sale; 
 WHEREAS,
subject to the terms and conditions set forth in those certain Redemption Agreements entered into concurrently with this Agreement between some or all of the Shareholders and MNA (collectively, the “Company Redemption Agreements”),
the Shareholders are redeeming shares of common stock of MNA in exchange for the redemption price specified in such Company Redemption Agreements. 

WHEREAS, subject to the terms and conditions set forth herein, Group Holdings desires to irrevocably have redeemed by the Company, and the
Company desires to redeem, 579,707 of the Class A Units, which amount corresponds to the ownership percentage of the Company that is being redeemed pursuant to the Company Redemption Agreements (the “Redeemed
Interests”), in exchange for the Redemption Price (as defined below). 
 NOW, THEREFORE, in consideration of the foregoing
premises, the respective covenants and agreements set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby,
hereby agree as follows: 
 ARTICLE I 

REDEMPTION 
 SECTION 1.01.
Redemption of the Securities. Subject to the terms and conditions set forth in this Agreement, on the Closing Date (as defined below), Group Holdings hereby irrevocably submits for redemption and transfers, assigns and delivers to the
Company, and the Company hereby redeems and accepts all right, title and interest in and to, the Redeemed Interests, free and clear of all liens and encumbrances of any kind, for the Redemption Price. On the Closing Date (or thereafter pursuant to
Section 5.01), the Group Holdings shall deliver to the Company all instruments necessary to effect the transfer of the Redeemed Interests from Group Holdings to the Company. 

 SECTION 1.02. Redemption Price. The redemption price for the Redeemed Interests shall be
$1,913,033.10 in cash (the “Redemption Price”). On or as promptly after the Closing Date as is practicable, Company shall pay the Redemption Price by check or wire transfer of immediately available funds to an account specified in writing
by Group Holdings. 
 SECTION 1.03. Closing. The closing of the redemption of the Redeemed Interests (the “Closing”)
shall take place immediately following the execution of this Agreement on the date hereof (the “Closing Date”). The Closing shall take place at the offices of Group Holdings, or at such other location as may be mutually agreed to by
the parties hereto. 
 ARTICLE II 

REPRESENTATIONS AND WARRANTIES OF GROUP HOLDINGS 

Group Holdings hereby represents and warrants to the Company as follows: 

SECTION 2.01. Authorization and Validity of Agreement. Group Holdings is a limited liability company duly organized, validly existing
and in good standing under the laws of the State of Delaware. Group Holdings has full legal capacity and authority to execute this Agreement and to carry out its obligations hereunder. To the extent applicable, the execution and delivery of this
Agreement and the performance of the Group Holdings’ obligations hereunder have been duly authorized by all necessary action on behalf of the Group Holdings. This Agreement has been duly executed by the Group Holdings, and, assuming due
authorization, execution and delivery by the Company, this Agreement constitutes the legal, valid and binding obligations of Group Holdings, enforceable against Group Holdings’ in accordance with its terms. Each document and instrument of
transfer contemplated by this Agreement (including pursuant to Section 5.01 hereof) is valid and legally binding upon Group Holdings in accordance with its terms. 

SECTION 2.02. Ownership of Redeemed Interests. Group Holdings is the lawful owner of record and beneficially owns, and has good and
marketable title to, the Redeemed Interests, free and clear of any security interest, pledge, mortgage, lien, call, option, charge, encumbrance, adverse claim, preferential arrangement or restriction of any kind, including, without limitation, any
restriction on the use, voting, transfer, receipt of income or other exercise of any attributes of ownership (collectively, “Encumbrances”). Upon the consummation of the transaction contemplated by this Agreement and payment of the
Redemption Price, the Company will own the Redeemed Interests free and clear of any Encumbrance. 
 SECTION 2.03. No Conflict or
Violation. The execution and delivery of this Agreement by Group Holdings and the consummation of the transactions contemplated hereby do not and will not (a) with or without the giving of notice or the passage of time or both, violate,
conflict with, result in the breach or termination of, constitute a default under, or result in the right to accelerate or loss of rights under or the creation of any Encumbrance upon any assets or property of Group Holdings, pursuant to the terms
or provisions of any contract, agreement, commitment, indenture, mortgage, deed of trust, pledge, security agreement, note, lease, license, covenant, understanding or other instrument or obligation to which Group Holdings is a party or by which it
or any of its properties or assets may be bound or affected, (b) violate or conflict with any provision of the organizational documents of Group Holdings or (c) violate any provision of law or any order, writ, injunction, judgment or
decree of any court, administrative agency or governmental body binding upon Group Holdings. 

 SECTION 2.04. No Consent. No consent, approval or authorization of or declaration or
filing with any governmental authority or other persons or entities on the part of Group Holdings is required in connection with execution or delivery of this Agreement or the consummation of the transactions contemplated hereby. 

SECTION 2.05. Sufficient Knowledge. Group Holdings acknowledges that it has (a) been provided access to or been furnished with
sufficient facts and information to evaluate and make an informed decision with respect to the redemption of the Redeemed Interests pursuant to the terms of this Agreement, (b) read and understands all of such information, (c) been
provided sufficient opportunity to ask questions and all of such questions have been answered to its full satisfaction, (d) not relied on any oral or written representations made by or on behalf of Group Holdings or any of its affiliates (other
than as set forth in this Agreement) and shall not construe or rely on any communication or documentation from or on behalf of Group Holdings or any of its affiliates as investment, legal or tax advice and (e) obtained such advice (including
without limitation the advice of counsel of the Company’s choosing) as it deemed appropriate in order to make an informed decision with respect to the redemption of the Redeemed Interests pursuant to the terms of this Agreement. The Company
acknowledges and agrees that the Redemption Price represents the fair market value of the Redeemed Interests. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

The Company hereby represents and warrants to Group Holdings as follows: 

SECTION 3.01. Organization; Authorization and Validity of Agreement. The Company is a limited liability company duly organized, validly
existing and in good standing under the laws of the State of Delaware. The Company has all requisite power and authority to enter into this Agreement and to carry out its obligations hereunder. The execution and delivery of this Agreement and the
performance of The Company’s obligations hereunder have been duly authorized by all necessary action, and no other proceedings on the part of the Company is necessary to authorize such execution, delivery and performance. This Agreement has
been duly executed by the Company and, assuming due execution by Group Holdings, constitutes legal, valid and binding obligations of the Company, enforceable against the Company in accordance with its terms, except as may be limited by applicable
bankruptcy, insolvency, moratorium or similar laws of general application relating to or affecting creditors’ rights generally and except for the limitations imposed by general principles of equity. 

SECTION 3.02. No Conflict or Violation. The execution, delivery and performance by the Company of this Agreement does not and will not
(i) violate or conflict with any provision of the organizational documents of the Company or (ii) violate any provision of law, or any order, judgment or decree of any court or other governmental entity. 

 ARTICLE IV 

INDEMNIFICATION 
 SECTION 4.01.
Company Indemnity. The Company covenants and agrees to indemnify and hold Group Holdings and its officers, directors and stockholders, harmless from and against, and to reimburse such indemnitees for, any claim for any losses, damages,
liabilities, deficiencies and expenses (including reasonable counsel fees and expenses) (a “Claim”) incurred by Group Holdings or any such indemnitee after the date hereof by reason of, or arising from, (a) any
misrepresentation or breach of any representation or warranty contained in this Agreement or in any instrument or document executed by the Company and delivered to Group Holdings pursuant to the terms hereof or (b) any failure by the Company to
perform any obligation or covenant required to be performed by it under any provision of this Agreement. 
 SECTION 4.02. Group Holdings
Indemnity. Group Holdings covenants and agrees to indemnify and hold the Company and its officers, directors and stockholders, harmless from and against, and to reimburse such indemnitees for, any claim for any losses, damages, liabilities,
deficiencies and expenses (including reasonable counsel fees and expenses) incurred by the Company or any such indemnitee after the date hereof by reason of, or arising from, (a) any misrepresentation or breach of any representation or warranty
contained in this Agreement or in any instrument or document executed by Group Holdings and delivered to the Company pursuant to the terms hereof or, (b) any failure by Group Holdings to perform any obligation or covenant required to be
performed by it under any provision of this Agreement. 
 ARTICLE V 

MISCELLANEOUS 
 SECTION 5.01.
Further Assurances. Each party hereto shall execute, deliver, file and record, or cause to be executed, delivered, filed and recorded, such further agreements, instruments and other documents, and take, or cause to be taken, such further
actions, as any other party hereto may reasonably request as being necessary or advisable to effect or evidence the transactions contemplated by this Agreement. 

SECTION 5.02. Entire Agreement. This Agreement constitutes the entire agreement and understanding between the parties with regard to
the subject matter hereof. 
 SECTION 5.03. Amendments; Waivers. This Agreement may be amended, modified or superseded, and any of
the terms, covenants, representations, warranties or conditions hereof may be waived, only by a written instrument executed by parties hereto. No waiver of any provision of this Agreement shall be valid unless in writing and signed by the party
against whom enforcement is sought. The failure of any party at any time or times to require performance of any provisions hereof will in no manner affect the right at a later time to enforce the same. No waiver by any party of any condition, or of
any breach of any term, covenant, representation or warranty contained in this Agreement, in any one or more instances, will be deemed to be or construed as a further or continuing waiver of any such condition or breach or a waiver of any other
condition or of any breach of any other term, covenant, representation or warranty. 

 SECTION 5.04. Successors and Assigns. All of the terms, covenants, representations,
warranties and conditions of this Agreement will be binding upon, and inure to the benefit of, and be enforceable by, the parties hereto and their respective successors and assigns. 

SECTION 5.05. Governing Law. This Agreement shall be governed by and construed in accordance with the domestic laws of the State of New
York, without giving effect to any choice of law or conflict of law provisions or rule that would cause the application of the laws of any jurisdiction other than the State of New York. 

SECTION 5.06. Severability. If any provision of this Agreement shall become illegal, invalid, unenforceable or against public policy
for any reason, or shall be held by any court of competent jurisdiction to be illegal, invalid, unenforceable or against public policy, then such provision shall be severed from this Agreement and the remaining provisions of this Agreement shall not
be affected thereby and shall remain in full force and effect. In lieu of each provision that becomes or is held to be illegal, invalid, unenforceable or against public policy, there shall be automatically added to this Agreement a provision as
similar in substance to the objectionable provision as may be possible and still be legal, valid, enforceable and in compliance with public policy. 

SECTION 5.07. Section and Paragraph Headings. The section and paragraph headings in this Agreement are for reference purposes only and
shall not affect the meaning or interpretation of this Agreement. 
 SECTION 5.08. Counterparts. This Agreement may be executed in
any number of counterparts with the same effect as if all parties hereto had executed the same document. All such counterparts shall be construed together and shall constitute one instrument. 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 

 

			
	M&N GROUP HOLDINGS, LLC
		
	By:	 	 /s/ Paul Battaglia

		 	Name: Paul Battaglia
		 	Title:   Authorized Signatory
	
	MANNING & NAPIER GROUP, LLC:
		
	By:	 	 /s/ Paul Battaglia

		 	Name: Paul Battaglia
		 	Title:   Authorized Signatory

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