Document:

Exhibit

Exhibit 10.11

FIFTH AMENDMENT OF LEASE

THIS FIFTH AMENDMENT OF LEASE, made as of the 1st day of October, 2017 (this "Amendment"), by and between ONE PENN PLAZA LLC, a New York limited liability company, having an office c/o Vornado Office Management LLC, 888 Seventh Avenue, New York, New York 10019 ("Landlord"), and OPHTHOTECH CORPORATION, a Delaware corporation, having an office at One Penn Plaza, New York, New York 10019 ("Tenant").
W I T N E S S E T H:
WHEREAS, by Lease, dated as of September 30, 2007 (the “Original Lease”), between Landlord and Tenant, Landlord did demise and lease to Tenant and Tenant did hire and take from Landlord, a portion of the rentable area located on the thirty-fifth (35th) floor of the building known as and by the street address of One Penn Plaza, New York, New York (the "Building"), as more particularly described therein (the "Original Premises");
WHEREAS, the Original Lease was amended and modified by a letter agreement, dated as of September 28, 2012 (the “Letter Agreement”), between Landlord and Tenant; 
WHEREAS, by Amendment of Lease, dated as of August 30, 2013 (the "First Amendment"), (x) Tenant surrendered the Original Premises to Landlord, (y) Landlord did demise and lease to Tenant and Tenant did hire and take from Landlord, a portion of the nineteenth (19th) floor of the Building, as more particularly described therein (the "First 19th Floor Premises"), and (z) Landlord and Tenant extended the term of the Original Lease; 
WHEREAS, by Second Amendment of Lease, dated as of December 20, 2013 (the “Second Amendment”), Landlord did demise and lease to Tenant and Tenant did hire and 

take from Landlord, an additional portion of the nineteenth (19th) floor of the Building, as more particularly described therein (the "Second 19th Floor Premises"); 
WHEREAS, by Third Amendment of Lease, dated as of April 18, 2014 (the "Third Amendment"), Landlord did demise and lease to Tenant and Tenant did hire and take from Landlord an additional portion of the nineteenth (19th) floor of the Building, as more particularly described therein (the "Third 19th Floor Premises");
WHEREAS, by Fourth Amendment of Lease, dated as of December 31, 2014 (the "Fourth Amendment"), Landlord did demise and lease to Tenant and Tenant did hire and take from Landlord an additional portion of the nineteenth (19th) floor of the Building, as more particularly described therein (the "Fourth 19th Floor Premises"; the First 19th Floor Premises, the Second 19th Floor Premises, the Third 19th Floor Premises and the Fourth 19th Floor Premises, collectively, the "Surrender Premises"); 
WHEREAS, by notice from Tenant to Landlord dated January 26, 2017 (the "Termination Notice"), Tenant exercised Tenant's Termination Right (as such term is defined in the Lease) with respect to the Lease; the Original Lease, as modified by the Letter Agreement, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, and such notice exercising Tenant's Termination Right, the "Lease"); and
WHEREAS, Landlord and Tenant desire to terminate the Lease with respect to the Surrender Premises only and Landlord desires to lease to Tenant and Tenant desires to lease from Landlord a portion of the thirty-fifth (35th) floor of the Building, as more particularly shown on the floor plan attached hereto as Exhibit "A" and made a part hereof (the "35th Floor Premises") currently leased to a third party (“Existing Tenant”) and to otherwise modify the Lease as set forth herein.   

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NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, the parties hereto, for themselves, their legal representatives, successors and assigns, hereby agree as follows:
1.Definitions.  All capitalized terms used herein shall have the meanings ascribed to them in the Lease, unless otherwise defined herein.
2.Surrender.  
(A)    On the later to occur of (i) the 35th Floor Premises Commencement Date (as hereinafter defined) and (ii) January 31, 2018 (such later date, the “Surrender Date”), Tenant shall vacate, quit and surrender to Landlord possession of the Surrender Premises, vacant, broom clean, free of all liens, encumbrances, tenancies and occupancies by, through and under Tenant, with (subject to the penultimate sentence of this Paragraph 2(A)) all of Tenant’s Property and any property of any subtenant or other occupant removed therefrom and otherwise in the condition required by the Lease, as if the Surrender Date were the Expiration Date set forth in the Lease with respect to the Surrender Premises only, and, to the intent and purpose that the term of the Lease with respect to the Surrender Premises only, be wholly merged and extinguished effective as of the Surrender Date, Tenant hereby gives, grants and surrenders all of its right, title and interest in, to and under the Lease with respect to the Surrender Premises only, to Landlord.  If possession of the Surrender Premises is not surrendered to Landlord on or prior to the Surrender Date, the provisions of Article 24 of the Lease shall be applicable to such holdover by Tenant; provided, however, Tenant shall be obligated for per diem Fixed Rent only for the first three (3) days of any such holdover following the Surrender Date.  Nothing contained in this Paragraph 2(A) shall permit 

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Tenant to retain possession of the Surrender Premises or limit in any manner Landlord's right to regain possession of the Surrender Premises, through summary proceedings or otherwise.  Notwithstanding any provision herein or in the Lease to the contrary, Landlord acknowledges and agrees that (a) Tenant has no obligation of any kind to remove or restore any Alterations within the Surrender Premises and (b) Tenant at its option may, but has no obligation of any kind to, remove any of its furniture, conduit and wiring from the Surrender Premises. The provisions of this Paragraph 2(A) shall survive the surrender of the Surrender Premises and the Surrender Date. 
(B)    Tenant covenants, represents and warrants to Landlord that (i) Tenant is the sole and present tenant under the Lease and Tenant has not assigned, conveyed, encumbered, pledged, sublet or otherwise transferred, in whole or in part, its interest in the Lease or the Surrender Premises, nor shall Tenant do any of the foregoing prior to the Surrender Date, (ii) there are no persons or entities claiming under Tenant, or who or which may claim under Tenant, any rights with respect to the Surrender Premises, nor shall Tenant permit any such claim to arise prior to the Surrender Date, (iii) Tenant has the right, power and authority to execute and deliver this Amendment and to perform Tenant's obligations hereunder and (iv) this Amendment is a valid and binding obligation of Tenant enforceable against Tenant in accordance with the terms hereof.  The foregoing covenants, representations and warranties shall survive the surrender of the Surrender Premises and the Surrender Date. 
(C)    Subject to the terms of Paragraph 2(A) hereof, (x) any and all provisions of the Lease which impose obligations on Tenant to pay Fixed Rent and Escalation Rent with respect to the Surrender Premises only arising from and after the Surrender Date, shall cease as of the Surrender Date; provided, however, that such payments shall be apportioned as of such 

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date, and the obligation to pay any such amounts accruing prior to the Surrender Date shall survive the surrender of the Surrender Premises and the Surrender Date, (y) any and all provisions of the Lease which impose obligations on Tenant to pay any other items of Rental with respect to the Surrender Premises only arising from and after the Surrender Date, shall cease as of the Surrender Date; provided, however, that such payments shall be apportioned as of such date, and the obligation to pay any such amounts accruing prior to the Surrender Date shall survive the surrender of the Surrender Premises and the Surrender Date, and (z) any and all other provisions of the Lease which impose obligations on Tenant with respect to the Surrender Premises only, shall cease as of the Surrender Date.  Nothing contained herein shall be deemed to relieve Tenant from Tenant's obligation to pay Rental with respect to the 35th Floor Premises as set forth in Paragraph 5(A) hereof.  
(D)    Provided that Landlord has substantially complied with all of the terms and conditions of this Amendment (other than those obligations which by the terms of this Amendment are to be performed after the Surrender Date), effective as of the Surrender Date, Tenant hereby releases and relieves Landlord and its successors and assigns from and against any and all actions, causes of action, suits, controversies, damages, judgments, claims and demands whatsoever, at law or in equity, of every kind and nature whatsoever arising out of, or in connection with, the Surrender Premises or the Lease with respect to the Surrender Premises only. Notwithstanding the foregoing, Landlord shall not be released from any covenant, representation or warranty contained in Lease that is specifically stated to survive the Surrender Date, the surrender of the Surrender Premises, or the Expiration Date or, with respect to periods prior to the Surrender Date, any reimbursements or repayments for overcharges of Escalation Rent and electricity charges or other amounts for which Tenant is entitled to reimbursement or payment under the Lease.

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(E)    Provided that Tenant has substantially complied with all of the terms and conditions of this Amendment (other than those obligations which by the terms of this Amendment are to be performed after the Surrender Date), Landlord, on the Surrender Date, shall accept Tenant’s surrender of the Surrender Premises and, effective as of the Surrender Date, except as otherwise set forth in this Amendment, hereby releases and relieves Tenant and its respective successors and assigns from and against all claims, obligations and liabilities of every kind and nature whatsoever thereafter arising out of or in connection with the Surrender Premises and the Lease with respect to the Surrender Premises only, relating to the period from and after the Surrender Date.  Notwithstanding the foregoing, Tenant shall not be released from any covenant, representation or warranty contained in this Amendment and the Lease, which by the terms of this Amendment or the Lease is specifically stated to survive the Surrender Date, the surrender of the Surrender Premises, or the Expiration Date.     
(F)    Landlord and Tenant, each upon request of the other party, at any time and from time to time hereafter and without further consideration, shall execute, acknowledge and deliver to the other any instruments or documents, or take such further action, as shall be reasonably requested or as may be necessary to more effectively assure vacating, quitting and surrender of the Surrender Premises and the full benefits intended to be created by this Amendment.
3.Lease Term.    The Term with respect to the 35th Floor Premises only is hereby extended on all of the same terms and conditions set forth in the Lease, as hereinafter modified (and for avoidance of doubt, subject to the terms of this Amendment, the termination of the Lease pursuant to the Termination Notice is hereby rescinded), so that the Term shall expire at 11:59 PM on December 31, 2018 (the "Extended Expiration Date"), unless it shall sooner expire pursuant to any of the terms, covenants or conditions of the Lease, as amended by this Amendment, or pursuant 

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to law.  Accordingly, the Extended Expiration Date shall be deemed the Fixed Expiration Date, with respect to the 35th Floor Premises only, for all purposes of the Lease, as amended by this Amendment.
4.35th Floor Premises.  
From and after the date on which Landlord delivers vacant and exclusive possession of the 35th Floor Premises to Tenant, broom clean and free of all tenancies and occupancies, with Landlord’s 35th Floor Premises Work (as hereinafter defined)  Substantially Complete (such date, the “35th Floor Premises Commencement Date”), Landlord leases to Tenant, and Tenant hires from Landlord, the 35th Floor Premises upon all of the same terms, covenants and conditions set forth in the Lease, except as modified and amended herein.  Landlord shall give Tenant ten (10) days' prior notice of the date on which Landlord reasonably believes Landlord's 35th Floor Premises Work shall be Substantially Complete. From and after the 35th Floor Premises Commencement Date, all references in the Lease, as amended hereby, to the Premises shall be deemed to mean the 35th Floor Premises, for all purposes of the Lease, as amended hereby.
5.Landlord's 35th Floor Premises Work.  
(A)The work set forth on Exhibit "B" attached hereto and made a part hereof shall be referred to, collectively, as the "Landlord’s 35th Floor Premises Work"). 
(B)Landlord shall perform Landlord's 35th Floor Premises Work in a good and workmanlike manner. Landlord shall perform Landlord's 35th Floor Premises Work in accordance with all applicable Requirements. Notwithstanding anything contained herein to the contrary, Tenant shall reimburse Landlord for up to Eighteen Thousand Dollars ($18,000.00) for the costs incurred by Landlord to perform Landlord’s 35th Floor Premises Work comprised of 

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separately demising the 35th Floor Premises. Tenant shall so reimburse Landlord within thirty (30) days of Landlord’s invoice therefor together with reasonable back-up. 
(C)Notwithstanding the provisions of this Paragraph 4 to the contrary, in the event that Substantial Completion of Landlord's 35th Floor Premises Work shall be delayed by reason of any Tenant 35th Floor Work Delays (as hereinafter defined), then only for purposes of determining the date on which the 35th Floor Premises Commencement Date shall occur, (x) the Substantial Completion of Landlord's 35th Floor Premises Work shall be deemed to have occurred on the date it would have otherwise been Substantially Complete but for such Tenant 35th Floor Work Delays notwithstanding that Landlord has not yet delivered possession of the 35th Floor Premises to Tenant and (y) the 35th Floor Premises Commencement Date shall be deemed to have occurred on the date the 35th Floor Premises Commencement Date would have otherwise occurred but for such Tenant 35th Floor Work Delays notwithstanding that Landlord has not yet delivered possession of the 35th Floor Premises to Tenant.  Notwithstanding the foregoing, Landlord shall be obligated to Substantially Complete Landlord's 35th Floor Premises Work even if the 35th Floor Premises Commencement Date is deemed to occur prior to Substantial Completion thereof, notwithstanding the occurrence of Tenant 35th Floor Work Delays; provided, however, Landlord's obligation to so Substantially Complete Landlord's 35th Floor Premises Work shall be adjourned for periods of delay caused by Tenant 35th Floor Work Delay. The term "Tenant 35th Floor Work Delays" shall mean Tenant's acts or omissions (including, without limitation, if applicable, Tenant’s entry into the 35th Floor Premises prior to the 35th Floor Premises Commencement Date that interferes with the performance of Landlord's 35th Floor Premises Work) to the extent such acts or omissions by Tenant continue for more than 

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one Business Day after Tenant’s receipt of the notice provided hereinbelow. Landlord shall notify Tenant after Landlord or its employees, agents or contractors have actual knowledge of a Tenant 35th Floor Work Delay (and state in reasonable detail the basis of such Tenant 35th Floor Work Delay). Any such notice may be given by Landlord to Tenant by email to david.carroll@ophthotech.com and todd.anderman@ophthotech.com.   Any period of Tenant 35th Floor Work Delay shall not exceed the time period Landlord was actually delayed in the performance of the 35th Floor Premises Work as a result of such Tenant 35th Floor Work Delay and only to the extent such delay cause the 35th Floor Premises Commencement Date to be delayed, and any simultaneous Tenant 35th Floor Work Delays shall be deemed to run concurrently, not consecutively, and shall not be “double” counted.
(D)Upon Tenant's reasonable advance request therefor, which request may be made verbally to Landlord's property management team, to the extent permitted by applicable Requirements, Tenant shall be permitted to enter the 35th Floor Premises from time to time, during Landlord's performance of Landlord's 35th Floor Premises Work solely for purposes of preparing for the installation of and installing IT systems and Tenant's Property therein; it being understood, however, that (i) Tenant shall not have the right to enter the 35th Floor Premises as aforesaid unless Tenant is accompanied by a designated representative of Landlord at all times during such entry (it being agreed that Landlord shall use commercially reasonable efforts to provide a designated representative to accompany Tenant as contemplated herein), and (ii) during any period in which Tenant is in the 35th Floor Premises, (x) Tenant shall comply with all terms and conditions of the Lease, as amended hereby (and the same shall be deemed to apply during such period), other than the obligation to pay Fixed Rent and Escalation Rent with respect 

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to the 35th Floor Premises and (y) Tenant shall not interfere with the operation of the Building or interfere with or delay Landlord's performance of and completion of Landlord's 35th Floor Premises Work (it being understood, however, that to the extent that Landlord's 35th Floor Premises Work is delayed solely by Tenant's entry into the 35th Floor Premises and/or any such preparation or installation as aforesaid and Tenant is notified of same, the same shall constitute a Tenant 35th Floor Work Delay to the extent such conduct by Tenant continues for more than one Business Day after Tenant’s receipt of such notice) .
(E)Tenant shall not be required to pay for the first ten (10) hours of Tenant's overtime use of the freight elevator only for Tenant's initial move into, and/or performance of Alterations in, the 35th Floor Premises (but not for purposes associated with the ordinary conduct of Tenant’s business).
(F)All furniture, fixtures and equipment (“FF&E”) in the 35th Floor Premises and more particularly set forth in Exhibit “C” attached hereto and made a part hereof shall be delivered in “as is, where is” condition.  All FF&E shall be maintained by Tenant during the Term in good order and repair, subject to reasonable wear and tear and obsolescence. Tenant shall have no obligation to remove any FF&E at the end of the Term.  Tenant acknowledges that Landlord makes no representations of any kind to Tenant with respect to any FF&E, or its merchantability or suitability for the use to which Tenant intends to put them.
6.Modification of Lease:  35th Floor Premises.  From and after the 35th Floor Premises Commencement Date, the Lease with respect to the 35th Floor Premises only, is hereby amended and modified as follows:

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(A)The Fixed Rent (together with the Electricity Inclusion Factor as the date hereof) shall be an amount equal to Six Hundred Fifty-Three Thousand Five Hundred Ninety-Four Dollars and No Cents ($653,594.00) per annum ($54,466.20 per month) for the period commencing on the 35th Floor Premises Commencement Date and ending on the Extended Expiration Date. 
(B)The Rentable Area of the 35th Floor Premises shall be deemed to be thirteen thousand five hundred forty-six (13,546) square feet in the aggregate.
(C)The provisions of Article 2 of the Lease shall not be applicable with respect to the 35th Floor Premises to the effect that from and after the 35th Floor Premises Commencement Date Tenant shall not be obligated to pay Escalation Rent with respect thereto.
(D)Section 3.8 of the Lease (as set forth in the First Amendment) shall be applicable to the 35th Floor Premises, except that the Designated Shaftway shall be a shaft location reasonably designated by Landlord.
(E)Section 5.1 of the Lease (as amended by the First Amendment) shall be applicable to the 35th Floor Premises, except that references therein to the nineteenth (19th) floor of the Building shall be deemed to be references to the thirty-fifth (35th) floor of the Building.
7.Additional Modifications of Lease.  From and after the date hereof, the Lease is hereby amended and modified as follows: 
(A)    Section 4.1(E) of the Lease is amended and modified to insert the following before the period at the end thereof: “and further provided, however, that Overtime Periods 

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for the HVAC System shall mean times other than the periods from 8:00 A.M. to 8:00 P.M. on Business Days and 9:00 A.M. to 1:00 P.M. on Saturdays”.
(B)    The term “Transfer Inflow” (as such term is defined in Section 17.6(B)(2) of the Lease) is hereby amended and modified to insert the following at the end thereof:
“Should any amount included in the Transfer Inflow cause the Transfer Profit to fail to qualify as “rents from real property,” as that term is defined in Section 856(d) of the Internal Revenue Code of 1986, as amended, the fair market value of such amount, as determined by Landlord in its sole discretion, shall be excluded from the Transfer Inflow and no Transfer Profit shall be paid to Landlord with respect to such excluded amount.”

(C)    Section 29.1(A) of the Lease is amended and modified to insert, before the words "Tenant shall indemnify" in the first line thereof, the words "to the fullest extent permitted by law".
(D)    Section 29.2(A) of the Lease is amended and modified to insert, before the words "Landlord shall indemnify" in the first line thereof, the words "to the fullest extent permitted by law".
(E)    Paragraph 12 of the Fourth Amendment is hereby deleted in its entirety.
(F)    Section 27.1 of the Lease is amended and modified to have notices to Tenant given to Tenant at One Penn Plaza, New York, New York 10119, Attention: Jeanne Vautin, Suite 1924 prior to the Surrender Date and to Suite 3520 after the Surrender Date and upon the 35th Floor Premises Commencement Date, with a copy to: Todd Anderson.

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8.Condition of Premises.  Tenant represents that it has made a thorough inspection of the 35th Floor Premises and, subject to the terms of this Amendment, Landlord’s continuing obligations under Section 8.1 of the Lease and the other applicable provisions of the Lease, the performance of the Landlord’s 35th Floor Premises Work, and the continuance of the Premises in its current condition as of the date hereof without damage (except reasonable wear and tear)  agrees to take the 35th Floor Premises in its "as-is" condition existing on the 35th Floor Premises Commencement Date (subject to latent defects in Landlord's 35th Floor Premises Work).  Tenant further acknowledges and agrees that notwithstanding anything to the contrary contained in the Lease, as amended hereby, Landlord has made no representations with respect to the 35th Floor Premises and subject to Landlord’s continuing obligations under Section 8.1 and Section 11.2 of the Lease and other applicable provisions of the Lease, Landlord shall have no obligation to perform any work (other than Landlord's 35th Floor Premises Work to provide any work allowance or rent credit, or to alter, improve, decorate, or otherwise prepare the 35th Floor Premises for Tenant's occupancy.  On the 35th Floor Premises Commencement Date, the 35th Floor Premises shall be in broom clean condition. Promptly following the 35th Floor Premises Commencement Date, Landlord shall provide Tenant with an ACP-5 covering the 35th Floor Premises. Landlord hereby acknowledges and agrees that Tenant shall not be obligated to perform Alterations to comply with the Americans with Disabilities Act with respect to the 35th Floor Premises (except to the extent the need for such compliance arises from Tenant’s Alterations or its manner of use) and the 35th Floor Premises shall comply with Local Law 26/04.
9.Liability of Landlord.  The provisions of Section 31.4 of the Lease shall be applicable to the Lease, as modified by this Amendment. Tenant shall look solely to Landlord to 

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enforce Landlord's obligations under the Lease, as amended by this Amendment and shall not seek any damages against any of the member, managers, partners, shareholders, directors, officers and principals, direct and indirect, comprising Landlord (collectively, the "Parties").  The liability of Landlord for Landlord's obligations under the Lease, as amended by this Amendment, shall be limited to Landlord's interest in the Real Property and the proceeds thereof.  Tenant shall not look to any property or assets of Landlord (other than Landlord’s interest in the Real Property and the proceeds thereof) in seeking either to enforce Landlord's obligations under the Lease, as amended hereby or to satisfy a judgment for Landlord's failure to perform such obligations.
10.Brokerage.  
(A)    Tenant represents and warrants to Landlord that it has not dealt with any broker, finder or like agent in connection with this Amendment other than CBRE, Inc. ("Broker").  Tenant does hereby indemnify and hold Landlord harmless of and from any and all loss, costs, damage or expense (including, without limitation, attorneys' fees and disbursements) incurred by Landlord by reason of any claim of or liability to any broker, finder or like agent excluding Broker who shall claim to have dealt with Tenant in connection herewith.  
(B)    Landlord represents and warrants to Tenant that it has not dealt with any broker, finder or like agent in connection with this Amendment other than Broker.  Landlord does hereby indemnify and hold Tenant harmless of and from any and all loss, costs, damage or expense (including, without limitation, attorneys' fees and disbursements) incurred by Tenant by reason of any claim of or liability to any broker, finder or like agent, excluding Broker, who shall claim to have dealt with Landlord in connection herewith.   

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(C)    The provisions of this Paragraph 10 shall survive the expiration or termination of the Lease, as amended by this Amendment.
11.Authorization.  Tenant represents and warrants to Landlord that its execution and delivery of this Amendment has been duly authorized and that the person executing this Amendment on behalf of Tenant has been duly authorized to do so, and that no other action or approval is required with respect to this transaction.  Landlord represents and warrants to Tenant that its execution and delivery of this Amendment has been duly authorized and that the person executing this Amendment on behalf of Landlord has been duly authorized to do so, and that no other action or approval is required with respect to this transaction.
12.Full Force and Effect of Lease.  Except as modified by this Amendment, the Lease and all covenants, agreements, terms and conditions thereof shall remain in full force and effect and are hereby in all respects ratified and confirmed.
13.Entire Agreement.  The Lease, as amended by this Amendment, constitutes the entire understanding between the parties hereto with respect to the matters set forth herein and may not be changed orally but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification or discharge is sought.
14.Enforceability.  This Amendment shall not be binding upon or enforceable against either Landlord or Tenant unless, and until, Landlord and Tenant, each in its sole discretion, shall have executed and unconditionally delivered to the other an executed counterpart of this Amendment.

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15.Counterparts.  This Amendment may be executed in one or more counterparts each of which when taken together shall constitute but one original.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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

ONE PENN PLAZA LLC, Landlord

By:      Vornado Realty L.P., its managing member 

		
	By:  
	Vornado Realty Trust, its general partner 

By:     /s/ David R. Greenbaum
David R. Greenbaum 
President – New York Division

OPHTHOTECH CORPORATION, Tenant

By: /s/ David F. Carroll
Name:David F. Carroll
Title: CFO / SVP

TENANT'S EIN#:20-8185347

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UNIFORM FORM CERTIFICATE OF ACKNOWLEDGMENT 
(Within New York State)

STATE OF ______________________        )
: ss.:
COUNTY OF ____________________        )

On the _____ day of _________________, in the year 2017, before me, the undersigned personally appeared ________________________________, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.

____________________________
Notary Public

UNIFORM FORM CERTIFICATE OF ACKNOWLEDGMENT 
(Outside of New York State)

STATE OF  New Jersey                )
: ss.:
COUNTY OF  Middlesex                )

On the 20th day of October, in the year 2017, before me, the undersigned, personally appeared David Carroll, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument, and that such individual made such appearance before the undersigned in the County of Middlesex.  (Insert the city or other political subdivision and the state or country or other place the acknowledgment was taken.)

/s/ Joanne Dera, Notary

18

(Signature and office of individual                                     taking acknowledgment)

M:\PCaruso\OnePenn\Ophthotech Fifth Amendment v6.7.docx        10/18/2017

Exhibit "A"

35th Floor Premises

20

Exhibit "B" 
 
Landlord's 35th Floor Premises Work

		
	1.
	Landlord shall separately demise the 35th Floor Premises in accordance with the plan attached hereto as Exhibit "A"

		
	2.
	Landlord shall steam clean the carpets in the 35th Floor Premises

21

Exhibit "C" 
 
FF&E

		
	1.
	Chairs: 19 

		
	2.
	Conference room tables: 2

		
	3.
	Cubicles: 29

		
	4.
	Guest Tables (in private offices): 3

		
	5.
	Desks w/ overhead cabinets (private offices): 16

		
	6.
	TV’s w/ projector: 2

		
	7.
	Credenzas: 3

		
	8.
	Refrigerator: 1

		
	9.
	Water filters/coolers: 2

		
	10.
	Microwaves: 2

		
	11.
	Storage Shelves: 3

		
	12.
	File Cabinets: 5 gray, 1 black, 6 silver 

		
	13.
	IT Racks: 1

22Exhibit

Exhibit 10.22

One Penn Plaza, 35th Floor, New York, NY  10119
Phone:  212-845-8200  Fax:  212-845-8250

January 5, 2018

Ms. Barbara A. Wood

Re:    Separation Agreement and General Release 

Dear Barbara:

This letter agreement (the “Letter Agreement”) confirms our agreement concerning your separation from Ophthotech Corporation (“Ophthotech” or the “Company”).  Subject to the terms of this Letter Agreement, your employment will end effective on the earliest of (i) March 31, 2018, (ii) such date as may be mutually agreed between you and the Company, and (iii) such date as the Company terminates your employment for Cause, as that term is defined in the February 20, 2015 severance benefits agreement between you and the Company (the “Severance Agreement”) (as applicable, the “Separation Date”).  By signing a copy of this Letter Agreement in the space provided below, you agree to the terms and conditions set forth herein.  
A.Transition Period.   The period between the Agreement Effective Date (as defined in Paragraph F.5 below) and the Separation Date will be a transition period (the “Transition Period”), during which you will continue to work on a full-time basis, and, at the direction of the Company, assist as requested and in a timely, professional and cooperative manner with transitioning your duties and responsibilities.  During the Transition Period, you will continue to receive your current base salary and may continue to participate in the Company’s benefit plans to the extent you remain eligible (and pursuant to the terms and conditions of such plans).  In the event the Company terminates your employment for Cause, you will not be eligible to receive the payments and benefits described in Paragraph B of this Letter Agreement, nor will you receive any further salary payments, benefits, or other compensation from the Company following your termination from employment, except as and to the extent required by law.
B.The Company’s Obligations.  In exchange for your (a) timely execution and return (as set forth in Paragraph F.6 below), and non-revocation, of this Letter Agreement, (b) compliance with the terms of this Letter Agreement, and (c) timely execution and return (as set forth in Paragraph F.6 below), and non-revocation, of the Reaffirmation of Letter Agreement attached as Exhibit A (the “Reaffirmation”), the Company will, provided you remain eligible pursuant to Paragraph A above, provide you with the following payments and benefits:  

		
	1.
	Pursuant to their terms, any stock option and restricted stock unit awards granted to you by the Company that are unvested as of the Separation Date will terminate effective as of such date.  If you execute and do not revoke the Reaffirmation, then immediately following the Reaffirmation Effective Date (as defined in Paragraph F.6 below), the exercise period for your outstanding stock options will be extended such that the stock options in which you have vested as of the Separation Date will remain exercisable for a period of one year following the  Separation Date (but in no event shall such exercise period be extended to later than the final exercise date (as described in any applicable agreement governing the stock option award). You understand that any option subject to this extended exercise period shall cease to be treated for tax purposes as an incentive stock option effective as of the date hereof.

		
	2.
	The Company will provide you with a severance payment (“Severance Payment”).  The Severance Payment shall consist of:

		
	i.
	a lump sum payment in the amount of $404,620, consisting of twelve (12) months of your current base salary; and

		
	ii.
	a lump sum payment in an amount equal to the pro-rated portion, as of the Separation Date, of your Target Bonus (as such term is defined in the Severance Agreement).

Section 4(a) of the Severance Agreement (Code Section 409A) shall govern any payment under this Letter Agreement.  
Except as provided for in this Paragraph B.2, both the Severance Agreement and the letter outlining the terms of your offer of employment with the Company dated October 21, 2013 and revised October 22, 2013 (the “Offer Letter”) are of no further force or effect.
		
	3.
	Your group medical and dental coverage will continue through the last date of the month in which your Separation Date occurs.  You will be given separate information regarding your right to continue your group health/dental/vision coverage, as required by the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).  All COBRA rights are subject to your completion and submission of the proper forms in the times allotted. 

Provided you timely elect COBRA continuation coverage, the Company will reimburse you for the monthly premium to continue such coverage for the lesser of (i) the twelve (12) full calendar months immediately following the last day of the calendar month in which your Separation Date occurs; and (ii) the end of the calendar month in which you become eligible to receive group health plan coverage under another employee benefit plan.  For the avoidance of doubt, such reimbursement of monthly premiums shall be subject to Section 4(a) of the Severance Agreement (Code Section 409A).

2

		
	4.
	The Company will allow you to retain the cellphone that the Company previously provided to you in connection with your employment (the “Cellphone”), provided that following the Separation Date you will need to immediately transfer the telephone number to your own mobile service, as the Company will not continue to pay for service following the Separation Date.  Notwithstanding the foregoing, you acknowledge and agree that you must return the Cellphone to the Company immediately if you revoke this Letter Agreement, or if you do not timely sign and return the Reaffirmation, or if you revoke the Reaffirmation.

		
	5.
	All payments under this Letter Agreement will be subject to all deductions required by law, including applicable taxes and withholdings.  The Severance Payment will be made in one lump sum in accordance with the Company’s normal payroll practices, no later than the second regular payroll date following the Reaffirmation Effective Date.  In accordance with its normal payroll practices, the Company will mail to the address listed above (or such other address as you have provided in writing to the Company’s Human Resources Department) an IRS Form W-2 (a) following the end of 2018, covering compensation you received in 2018, inclusive of the Severance Payment and any COBRA reimbursement payments received in 2018 and (b) following the end of 2019, covering any COBRA reimbursement payments received in 2019. 

C.Your Obligations.  In exchange for the consideration set forth in this Letter Agreement, including without limitation the Company providing you with the payments and benefits described in Paragraph B, above, to which you are not otherwise entitled, you voluntarily agree to the following: 
		
	1.
	You, for yourself and for your heirs, executors, administrators, successors and assigns (referred to collectively as “Releasor”), forever release and discharge the Company and any and all of the Company’s past and present affiliates, parent entities, subsidiaries, divisions, offices, branches, assets, employee benefit plans, funds, investment funds, successors and assigns, and any and all of its and their past and present officers, directors, partners, members, shareholders, agents, attorneys, employees, agents, trustees, fiduciaries, representatives, administrators, successors and assigns (whether acting in such capacity or otherwise) (referred to collectively as the “Releasees”), from any and all claims, demands, causes of action, fees and liabilities of any kind whatsoever, whether known or unknown, which Releasor ever had, now has or may have against Releasees or any of them by reason of any actual or alleged act, omission, transaction, practice, conduct, occurrence or other matter from the beginning of the world up to and including the date you sign this Letter Agreement based on your employment with the Company and the termination of your employment (other than claims you may have based upon your rights under this Letter Agreement).

		
	2.
	Without limiting the generality of the foregoing general release, by signing this Letter Agreement you agree that you are releasing Releasees from any and all claims arising 

3

out of your employment with the Company, the terms and conditions of such employment and/or the termination of such employment, including but not limited to:  (i) any claim under the Employee Retirement Income Security Act of 1974 (“ERISA”), Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Civil Rights Act of 1866, the Age Discrimination in Employment Act (including the Older Workers Benefit Protection Act), the Equal Pay Act, the Americans with Disabilities Act, the Family and Medical Leave Act, the National Labor Relations Act, the Sarbanes-Oxley Act, the Dodd-Frank Act, the New York State Human Rights Law, the New York City Human Rights Law, the New York Labor Law (all as amended), and any other applicable federal, state or local statute; (ii) any other claim of discrimination, harassment or retaliation in employment (whether based on federal, state or local law, statutory or decisional); (iii) any claim sounding in tort, common law or contract (express or implied)(including without limitation any claims under the Severance Agreement or the Offer Letter), wrongful discharge, whistleblowing, detrimental reliance, or defamation; (iv) any claim based on the Stock Grants; and (v) any claim for attorney’s fees, costs, disbursements, emotional distress, compensatory and/or punitive damages and/or the like.  
		
	3.
	You acknowledge that you may hereafter discover claims or facts in addition to or different from those which you now know or believe to exist with respect to the subject matter of this Letter Agreement and which, if known or suspected at the time you execute this Letter Agreement, may have materially affected this Letter Agreement and your decision to enter into it.  Nevertheless, you hereby waive any right, claim or cause of action that might arise as a result of such different or additional claims or facts.  

		
	4.
	You represent and warrant that, except as otherwise permitted below, you have maintained in the strictest confidence all information relating to the Company and/or the Releasees and their respective business that is not generally known by persons not employed by the Company and that could not easily be determined or learned by someone outside of the Company.  All of the foregoing shall be deemed “Confidential Information.”  You agree that you will maintain in the strictest confidence all Confidential Information, except as set forth below.  In addition, you hereby acknowledge and affirm your post-termination obligations under the Invention, Non-Disclosure, Non-Competition and Non-Solicitation Agreement between you and the Company dated October 23, 2013 (the “Covenant Agreement”), which are expressly incorporated herein. Notwithstanding the foregoing, however, nothing in the Covenant Agreement, this Letter Agreement or elsewhere shall be interpreted to (i) restrict your ability, after you cease to be an employee of the Company, to practice law, in violation of New York Rule of Professional Conduct 5.6 or other applicable rules of professional conduct; or (y) expand the scope of your duty to maintain privileged or confidential information obtained in connection with the your role as counsel for the Company beyond what is permitted under New York Rules of Professional Conduct 1.6 and 1.9, or other applicable rules of professional conduct.

4

		
	5.
	You agree that you have not and in the future will not, except as otherwise permitted below, disclose to any other person or entity (directly or indirectly), Confidential Information, except (a) as may be required pursuant to a valid subpoena, a request by a government agency (including but not limited to the United States Equal Employment Opportunity Commission (“EEOC”) or the Securities and Exchange Commission (“SEC”)) in connection with any charge filed, investigation or proceeding or as otherwise required by law; and (b) to your immediate family members, financial advisors and attorneys, provided that you first inform them of the confidentiality of this Letter Agreement and they agree to maintain its confidentiality.  You further agree that you will not solicit or initiate any demand or request by others for the disclosure of Confidential Information; or encourage or induce any other person to make any statement or disclosure of Confidential Information.  In the event that you receive an inquiry from the press or otherwise that could potentially call for the disclosure of Confidential Information, you will respond to the inquiry, if at all, by stating “I cannot comment,” or words to that effect.

		
	  6.
	To the extent permitted by law, you will cooperate fully with the Company, and provide assistance to the Company, in connection with (a) the orderly transition of all of your responsibilities and matters, (b) any pending or future litigation, administrative proceeding, or investigatory matter, and (c) any other matters for which you were responsible or with respect to which your knowledge may be of assistance to the Company.  You further agree that, in the event you are subpoenaed by any person or entity  to give testimony (in a deposition, court proceeding or otherwise) which in any way relates to your employment with the Company, you will give prompt written notice of such request (other than in the event of a subpoena issued by a government agency) to the Company’s Head of Human Resources, at the address above to allow the Company a reasonable opportunity to first contest the right of the requesting person or entity to such disclosure.  Nothing in this Letter Agreement shall preclude you from responding truthfully to a valid subpoena.  You agree to provide such cooperation and assistance as requested by the Company, subject to the reasonable efforts of the Company to accommodate any new employment obligations you may have, and the Company shall reimburse you for your reasonable out-of-pocket expenses in connection therewith.  For the avoidance of doubt, nothing in this Paragraph or elsewhere in the Agreement is intended in any way to prevent you from testifying fully and truthfully in any action or proceeding or in connection with any regulatory matter.

		
	  7.
	You agree that you have not and will not, except as otherwise permitted below, make any disparaging, critical or otherwise detrimental statements (orally or in writing) to any person or entity concerning the Company, its officers, directors, managing members, investors, employees, attorneys, representatives, affiliates, customers, clients, its and their business affairs or financial condition, the circumstances surrounding your employment and separation from the Company.  For purposes of this Letter Agreement, the term “disparage” shall mean any oral or written statement or representation which, directly or by implication, tends, in the minds of a reasonable 

5

audience, to create a negative impression about the subject of the statement or representation, and includes, without limitation, comments or statements to the press and/or media, including, but not limited to, print journalists, press interviews or statements, newspapers, radio, television, cable, satellite programs, or Internet media (including blogs, web pages, web posts, email, and or “chat programs”), or to the Company, its officers, directors, employees, affiliates, customers, clients, or any person or entity with which the Company has a business relationship which would: (a) adversely affect in any manner the conduct of the business of the Company or the Company’s business relationships; (b) adversely affect in any manner the business reputation of the Company, its officers, directors, managing members, investors, employees, attorneys, representatives, affiliates, customers, clients, or any person or entity with which the Company has a business relationship; (c) induce or encourage others, to disparage the Company, its officers, directors, managing members, investors, employees, attorneys, representatives, affiliates, customers, clients, or any person or entity with which the Company has a business relationship. 
		
	8.
	Nothing in this agreement shall be construed to prohibit you from reporting possible violations of federal or state law or regulations to any governmental agency or self-regulatory organization, or making other disclosures that are protected under whistleblower or other provisions of any applicable federal or state law or regulations. You are not required to notify the Company of any such communications; provided, however, that nothing herein authorizes the disclosure of information you obtained through a communication that was subject to the attorney-client privilege. Further, nothing contained in this Letter Agreement shall prohibit you from filing a charge with, or participating in any investigation or proceeding conducted by, the EEOC, or other federal, state or local fair employment practices agency, except that you understand and agree that you will not be able to recover monetary or equitable relief of any kind from Releasees in connection with any such charged filed by you or on your behalf in connection with any action filed by a third party with respect to the claims you are waiving in this Letter Agreement.  Additionally, nothing in this Letter Agreement shall constitute a waiver of claims arising after the date you sign it; claims that cannot be waived by law; any right to make any disclosure to or cooperate with the United States Securities and Exchange Commission (“SEC”) pursuant to Section 21F(b) of the Securities and Exchange Act or to receive a reward from the SEC in connection therewith; claims for accrued, vested benefits under any employee pension plan of the Company in accordance with the terms of the official plan documents and applicable law; claims for reimbursement through the Company’s Flexible Spending Account Program; claims for benefits under the Company’s group medical, vision and dental and disability plans in accordance with the terms of such plans and applicable law; or any rights you may have to indemnification under the Company’s Certificate of Incorporation and by-laws, any applicable Directors and Officers insurance policy, written indemnification agreement with the Company and any applicable laws (recognizing that such indemnification is not guaranteed by this Letter Agreement and shall be governed by the instrument or law, if any, providing for such indemnification).   

6

		
	9.
	Notwithstanding your confidentiality and nondisclosure obligations, you are hereby advised as follows pursuant to the Defend Trade Secrets Act: “An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.”

		
	10.
	You agree to return to the undersigned immediately upon request, but in no event later than the Separation Date, all property of the Company and/or any of the other Releasees that you have, including but not limited to records and materials, business and client information and files, cardkey access to Company offices, remote access card, desktop and laptop computer, keys, and corporate credit cards, but with the exception of the Company Cellphone, as set forth above.  

		
	11.
	You acknowledge that apart from the payments and benefits that will be provided to you as set forth in this Letter Agreement, you have received all compensation, wages, bonuses, severance or termination pay, stock options, restricted stock units, equity grants, commissions, notice period, leave and/or benefits to which you may have been entitled to under any law, policy or plan of or sponsored by the Company, or pursuant to any prior agreement with the Company and that no other payments or benefits are due or owing to you except as set forth in this Letter Agreement, including any severance payment or benefits under the Severance Agreement or the Offer Letter.  You further affirm that you have had no known workplace injuries or occupational diseases. 

D.Mutual Understandings.  The parties mutually agree to the following provisions:
		
	1.
	It is the Company’s policy not to provide the reasons for any employee’s departure unless required by law.  Therefore, any prospective employer who makes an inquiry to the Human Resources Department about your employment shall contact the Company’s Head of Human Resources or her designee, who will confirm only the dates of your employment, the positions you held, and your compensation (provided that compensation information will be provided only if you submit written authorization releasing this information to the Company’s Head of Human Resources or her designee or to the extent required by subpoena, court order or law). 

		
	2.
	Notwithstanding the foregoing Paragraph D.1, nothing herein shall limit the Company’s ability to make any disclosures required by the securities laws or the rules and regulations of the SEC or of any stock exchange on which the Company’s 

7

shares are listed, including (a) the filing of a Current Report on Form 8-K to disclose the fact of your separation and the financial arrangements memorialized hereby , (b) the inclusion of information regarding compensation paid to you as required in any filing with the SEC made by the Company and (c) the filing of this Agreement as an exhibit to the Company’s periodic reports filed pursuant to the Securities Exchange Act.  
		
	3.
	Nothing herein is intended to or shall be deemed to constitute an admission that the Company or any of the other Releasees have violated any federal, state or local law (statutory or decisional), ordinance or regulation, breached any contract, or committed any wrongdoing whatsoever against you or otherwise.  Neither this Letter Agreement nor any of its terms may be used as an admission or introduced as evidence as to any issue of law or fact in any proceeding, suit or action, other than an action to enforce this Letter Agreement.  Moreover, by signing this Letter Agreement you acknowledge that you are not aware of any wrongdoing or fraudulent or unlawful conduct on the part of the Company or the Releasees.

		
	4.
	In the event that any provision of this Letter Agreement is held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby.  Moreover, if any provision contained in this Letter Agreement is held to be excessively broad as to duration, scope, activity or subject, that provision will be construed by limiting and reducing it so as to be enforceable to the maximum extent compatible with applicable law.

		
	5.
	This Letter Agreement, together with any attachments and exhibits hereto, constitutes the entire agreement between you and the Company with respect to the subject matter hereof and supersedes all prior negotiations, representations or agreements relating thereto, whether written or oral, with the exception of any agreements or portions thereof expressly described herein as imposing continuing rights and obligations.  You represent that in executing this Letter Agreement, you have not relied on any representation or statement not set forth herein.  No amendment or modification of this Letter Agreement shall be valid or binding upon the parties unless in writing and signed by both parties. 

		
	6.
	This Letter Agreement will be governed by and construed in accordance with the laws of the State of New York, except as may be preempted by federal law.  This Letter Agreement is binding upon, and shall inure to the benefit of, the parties and their respective heirs, executors, administrators, successors and assigns.   

E.Obligations Unrelated to This Letter Agreement.  Regardless of whether you sign this Letter Agreement, you and the Releasees will have the following rights and obligations: 
		
	1.
	You will be paid for your final wages accrued through the Separation Date and for all accrued vacation days that remain unused as of the Separation Date, with such payment occurring within the time permitted by applicable law.

8

		
	2.
	Your participation in the Company’s 401(k)/retirement plan(s) will cease on the Separation Date.  You will receive any accrued vested benefits under this plan(s) in accordance with the terms of the plan and applicable law.  Separate information will be given to you regarding these benefits

 

		
	3.
	Your group medical and dental coverage will continue through the last date of the month in which your Separation Date occurs.  You will be given separate information regarding your right to continue your group health/dental/vision coverage, as required by COBRA.  In the event you do not sign this Letter Agreement, you may elect such continuation coverage, but the coverage would be solely at your own cost without reimbursement from the Company for any part thereof.  All COBRA rights are subject to your completion and submission of the proper forms in the times allotted.

 

		
	4.
	Pursuant to their terms, any stock option and restricted stock unit awards granted to you by the Company that are unvested as of the Separation Date will terminate effective as of such date.  Any outstanding stock option awards granted to you by the Company that are vested as of the Separation Date will remain exercisable for a period of three (3) months from your Separation Date (but no later than the final exercise date (as described in any applicable agreement governing the stock option award).  

F.Consideration and Revocation Periods.  By signing this Letter Agreement in the space provided below and returning it to the undersigned, you are confirming your acceptance of the terms and conditions set forth herein, and you are acknowledging the following:
		
	1.
	The obligations as set out in this Letter Agreement represent a complete waiver and release of all rights and claims that you have or may have against the Releasees, as provided in Paragraph C.1 above.  Accordingly, you should review it carefully before signing it. Likewise, the Reaffirmation attached as Exhibit A reaffirms this waiver and release as of the date you sign the Reaffirmation.

		
	2.
	You are being provided with at least twenty-one (21) days from your receipt of this Letter Agreement to consider its meaning and effect and to determine whether or not you wish to enter into it, and to consider the meaning and effect of the Reaffirmation and determine whether or not you wish to enter into it. You are advised to consult with an attorney of your choice before signing this Letter Agreement and the Reaffirmation  

		
	3.
	To accept this Letter Agreement and the Reaffirmation you must timely sign each one and deliver each to Amy Sheehan, at the address above.  

		
	4.
	By signing this Letter Agreement, you acknowledge that you are receiving consideration beyond that to which you would otherwise be entitled.  You further 

9

acknowledge that you have carefully read this Letter Agreement in its entirety, you have had an opportunity to consider the terms of this Letter Agreement for at least twenty-one (21) days, you fully understand the significance of all the terms and conditions of this Letter Agreement and have had a reasonable opportunity to discuss them with an attorney of your choice, and you are signing this Letter Agreement voluntarily and of your own free will and agreeing to all the terms and conditions contained herein.  
		
	5.
	In addition, you may take seven (7) days after signing this Letter Agreement to revoke your signature (such period, the “Letter Agreement Revocation Period”).  This Letter Agreement will not become effective until after you sign this Letter Agreement and the Revocation Period expires without revocation (the “Agreement Effective Date”).  Any revocation of this Letter Agreement must be in writing and delivered personally or by overnight courier to Amy Sheehan, in which event this Letter Agreement will become null and void and your employment with the Company will terminate immediately.

		
	6.
	You acknowledge that you received this Letter Agreement on January 5, 2018.  You understand that this Letter Agreement shall be of no force or effect, and that you shall not be eligible for the consideration described herein, unless you sign and return this Letter Agreement on or before January 27, 2018, and do not revoke your acceptance during the Letter Agreement Revocation Period.  Further, you acknowledge that you will not be eligible to receive the payments and benefits described in Paragraph B above unless you also sign and return the Reaffirmation (i) on, but not before, the Separation Date (if the Separation Date is after January 27, 2018, or (ii) no earlier than the Separation Date, but no later than January 27, 2018, and do not revoke your Reaffirmation in the subsequent seven (7) day period (such period, the “Reaffirmation Revocation Period”) (the day immediately following expiration of such revocation period is the “Reaffirmation Effective Date”).

We wish you the best in your future endeavors.

Sincerely yours,

/s/ Amy R. Sheehan

Amy Sheehan
Senior Vice President & Chief Human Resources Officer
Ophthotech    

10

I hereby agree to the terms and conditions set forth above.  I understand that the payments and benefits described in Paragraph B are conditioned upon my timely execution, return and non-revocation of the Reaffirmation.
Agreed to and Accepted by:

/s/ Barbara A. Wood_____
Barbara A. Wood

Date: 5 January 2018

11

Exhibit A

Reaffirmation of Letter Agreement
I hereby reaffirm as of the date below my agreement to the terms and conditions set forth in the Letter Agreement dated January 5, 2018 between me and the Company (the “Letter Agreement”) to which this Reaffirmation is attached as Exhibit A, including, without limitation, the release of claims set forth in Paragraph C thereof.  I also agree and acknowledge that apart from the payments and benefits that will be provided to me as set forth in the Letter Agreement, I have received all compensation, wages, bonuses, severance or termination pay, stock options, restricted stock units, equity grants, commissions, notice period, leave and/or benefits to which I may have been entitled under any law, policy or plan of or sponsored by the Company, or pursuant to any prior agreement with the Company and that no other payments or benefits are due or owing to me except as set forth in the Letter Agreement.  I further affirm that I have had no known workplace injuries or occupational diseases. I further confirm that I have complied with all of the provisions of the Letter Agreement to date. 
By signing hereunder, I acknowledge that I have had a chance to consider this Reaffirmation for at least twenty-one (21) days, that I fully understand the significance of this Reaffirmation and have been advised in writing to discuss it with an attorney of my choice, and that I am signing this Reaffirmation voluntarily and of my own free will. In addition, I understand that I may take seven (7) days after signing this Reaffirmation to revoke my signature, and that this Reaffirmation will not become effective until after I sign it and the Reaffirmation Revocation Period (as defined in the Letter Agreement) expires without revocation.
I hereby provide this Reaffirmation as of the date below and acknowledge that the execution of this Reaffirmation is in further consideration of the payments and benefits that will be provided to me as set forth in the Letter Agreement, to which I acknowledge I would not be entitled if I did not enter into this Reaffirmation.  I intend that this Reaffirmation become binding upon me if I do not revoke my acceptance in seven (7) days.
______________________________            _________________________
Barbara A. Wood                        Date

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