Document:

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Exhibit 10.6

 

LICENSING, MANUFACTURING

AND SUPPLY AGREEMENT

 

This Licensing, Manufacturing and Supply Agreement
(the “Agreement”) is being entered into as of the 5th day of December 2011 (the “Effective
Date”), by and between INNOCOLL PHARMACEUTICALS, LIMITED, an Irish Corporation (collectively, within its Affiliates “Innocoll”)
whose principal office is Midlands Innovation and Research Centre, Dublin Road, Athlone, Co. Westmeath, Ireland (or “Innocoll”)
and Saudi Centre for Pharmaceuticals, offices located at 341 Olaya Street, Riyadh, Saudi Arabia (“SCP”)

 

Preliminary Statements

 

WHEREAS, Innocoll has developed the Product
and desires to grant to SCP the exclusive right to distribute and sell the Product in the Territory in the Field (as each is defined
below);

 

WHEREAS, SCP is willing to act as Innocoll’s
distributor for the Product in the Territory in the Field; and

 

WHEREAS, Innocoll and SCP desire to enter into
this Agreement to set forth the terms and conditions of such distribution right and all other rights and obligations of the parties
relating thereto.

 

NOW, THEREFORE, the parties agree as follows:

 

Terms and Conditions

 

	1.		Defined Terms:

 

		1.1.	Affiliates shall mean, with respect to either party, those entities controlled by, in control
of, or under common control with such party. A corporation or non-corporate business entity shall be regarded as in control of
another corporation or business entity (i) if it owns or directly or indirectly controls a majority of the voting stock or other
ownership interest of the other entity, or (ii) in the absence of the ownership of a majority of the voting stock or other ownership
interest of such entity, if it possesses, directly or indirectly, the power to direct or cause the direction of the management
and policies of such corporation or non-corporate business entity, as applicable.

 

		1.2.	Field shall mean surgical adhesion barrier

 

		1.3.	Product shall mean product(s) identified in Exhibit A

 

		1.4.	Territory shall mean Saudi, UAE, Qatar, Oman, Kuwait, Bahrain, Jordan, Iraq

 

		1.5.	Net Sales shall mean the gross invoiced sales revenues received or receivable by SCP
                                                                                                                       from sales of Products, less the following items: (a) discounts allowed in amounts customary in the trade, contract
                                                                                                                       governmental and bid rebates; (b) sales, tariffs, duties and/or use taxes and other governmental charges; (c) charges
                                                                                                                       incurred in connection with exportation or importation to the extent separately stated on an invoice. In the case of any sale
                                                                                                                       of a Product for value other than in an arm’s length transaction exclusively for cash, such as barter or counter-trade,
                                                                                                                       Net Sales shall be determined by referencing Net Sales at which substantially similar quantities of such Product in the same
                                                                                                                       country in the Territory are sold in an arm’s length transaction for cash.

 

    	 

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	2.		Appointment of Exclusive Distributor

 

		2.1.	Innocoll hereby appoints SCP as its sole and exclusive distributor to market, sell, advertise,
promote and distribute, directly or through its Affiliates the Product in the Field in the Territory. SCP hereby accepts such appointment.

 

		2.2.	Innocoll represents and warrants to SCP that Innocoll has not entered into any other agreements,
written or oral, with any third party permitting the sale or distribution of the Product in the Field in the Territory, and Innocoll
covenants and agrees that during the Term, Innocoll will not enter into any such agreement or itself, directly or indirectly, sell
or distribute the Product or any product that competes directly with the Product in the Territory.

 

	3.		Manufacture and Supply of Product

 

		3.1.	Forecasts. At the beginning of each calendar month during the Term, SCP shall provide Innocoll
with a non-binding, good faith written forecast of SCP’s expected requirements for Product during the following twelve (12)
month period (the “Forecast’). Notwithstanding the first sentence of this Section 3.1, the first three (3) month
period included in each Forecast shall constitute a firm purchase order and binding commitment.

 

		3.2.	Orders. SCP shall place binding orders for Product by written or electronic purchase order
(or by any other means agreed to by the parties) to Innocoll. Innocoll shall acknowledge and accept or reject any SCP purchase
order in writing within ten (10) days of receipt. All such purchase orders shall be irrevocable. Purchase orders shall set forth
the desired date of delivery with respect to the Product ordered and shall be placed at least ninety (90) days prior to such desired
date of delivery. All Product ordered by SCP under this Agreement shall be delivered on or before the delivery date set forth in
the applicable purchase order. The first purchase order for the initial quantities (“Initial Purchase”) will be placed
subject to the conditions outlined in Exhibit B.

 

		3.3.	Innocoll will manufacture the Products exclusively for SCP in accordance with the Specifications
and in compliance with all relevant legal and regulatory requirements.

 

		3.4.	Shipment. Innocoll shall deliver the Product, FCA (incoterms 2000) Saal, Germany or other
location as Innocoll may identify rom time to time in its discretion (the “Shipping Point”), and title and all
risk of loss shall pass to SCP upon delivery to the designated carrier at the Shipping Point. The parties will cooperate to obtain
the best commercial rates for shipping costs. SCP shall arrange for shipping in compliance with the applicable Product requirements
regarding temperature, duration and other environmental factors as required to properly preserve the Product without materially
impacting its shelf life. All Product delivered by Innocoll shall be suitably packed and marked for shipment to such SCP location
as SCP may designate. Innocoll shall ship all Product in accordance with the instructions specified in SCP’s purchase orders.
A Certificate of Analysis (“COA”) specific to testing of each lot/batch, must accompany each shipment. Innocoll
shall maintain a copy of each such COA in compliance with cGMP/QSR. Innocoll shall provide a duplicate copy of the COA to SCP,
upon SCP’s request.

 

		3.5.	Inspection and Acceptance. SCP shall have the right, at its sole discretion, to inspect
each and every shipment of the Product. SCP shall have fifteen (15) days from receipt of each shipment of Product to visually inspect
the shipment (“Inspection Period”). SCP may reject a shipment (or portion thereof) of Product if any
one or more units contained therein fail to conform to the Specifications, by providing Innocoll written notice of such rejection
prior to the end of the Inspection Period. SCP may then return all or a portion of the shipment of Product to Innocoll. In addition
to the foregoing, for any Product for which the defect identified by SCP is a latent defect that could not reasonably be

 

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detected upon visual
inspection, SCP shall have a period of thirty (30) days from the date of identification of such latent defect to return any such
Product to Innocoll.

 

	4.		Supply Prices and Additional Consideration

 

Product Supply Prices and Additional Consideration
are set out in Exhibit B which is incorporated herein by reference.

 

	5.		Payment Terms

 

		5.1.	For the first 5,000 boxes (25,000 units) shipped, the payment terms will be Letter of Credit upon
receipt of shipment.

 

		5.2.	For all subsequent shipments, payment will be due within 45 days of receipt of shipment.

 

	6.		Minimum Purchase Requirements

 

From the second calendar year subsequent to
approval in the Territory for the term of the Agreement, SCP will purchase Products from Innocoll in an amount as set out on Exhibit
C hereto (“Minimum Purchase Requirement”).

 

	7.		Complaints

 

SCP will inform Innocoll immediately of any
complaints related to the Products and will liaise with Innocoll in investigating the possible causes and agree on any remedial
plans of action.

 

	8.		Batch Recall

 

SCP shall be responsible for any batch recall
of Products from the market and co-ordinate the same. In the event any governmental authority or agency requests a recall or takes
similar action in connection with the Products, or in the event that SCP determines an event or incident has occurred which may
result in the need for a recall or a market withdrawal, SCP will inform Innocoll by telephone or facsimile within 24 hours and
the parties shall agree on an appropriate course of action. Innocoll shall bear the expense of any recall resulting from breach
of its obligations hereunder or from negligent manufacture, packaging or shipment of the Products by it. In a I other cases, SCP
shall bear the expense of any recall.

 

	9.		Auditing

 

		9.1.	During normal business hours, Innocoll shall provide access to its premises to SCP to permit audits
of the relevant documents and facilities by SCP. SCP shall be entitled to one (1) audit within each twelve (12) month period during
the Term.

 

		9.2.	Innocoll will ensure that any material deficiencies highlighted during any audit by SCP or Regulatory
Bodies will be dealt with as soon as is practically possible following receipt of an official signed Audit Report from SCP.

 

	10.		SCP Obligations

 

		10.1.	SCP shall be responsible for compiling, submitting and maintaining the Product registrations, and
all associated costs. Innocoll shall provide all relevant and available information and documentation to support the Product registrations
in English to SCP and SCP shall be responsible for all required translations. SCP will submit the Product registrations to the
Regulatory Authorities within one (1) month of receiving all required

 

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information from
Innocoll. If SCP fails to submit the Product registration within one (1) month, the specific Product rights will revert
to Innocoll.

 

		10.2.	SCP shall launch the Product(s) within three (3) months of receiving Regulatory Approval. If SCP
fails to launch the product within three (3) months, the Product rights will revert to Innocoll.

 

		10.3.	SCP shall sell and distribute the Product in the Territory under the original trade-marks and packages
of Innocoll or under any modified trademarks or packages agreed by the Parties.

 

		10.4.	SCP shall provide at its own expense all staff and facilities necessary for the operation of the
distributorship and the fulfilment of the terms of this Agreement.

 

		10.5.	SCP shall handle and store the Products securely and with all due skill care and attention and
shall not take any step to alter the condition of any of the Products from that in which the Products are delivered by Innocoll.

 

		10.6.	At the request of Innocoll, SCP shall receive employees and representatives of Innocoll and shall
render to them all reasonable facilities for investigating conditions of trade and to visit customers in the Territory. Each party
shall bear their own costs relating to such visits.

 

		10.7.	SCP shall in good faith prepare and submit to Innocoll on or before January 15th in
each year a detailed marketing plan and budget (“the Plan”) for the promotion of the Products for the immediately succeeding
calendar year

 

		10.7.1.	In the event that the Plan is agreed upon by Innocoll and SCP, SCP shall use all reasonable endeavours
to ensure that it conforms to the Plan during the relevant calendar year.

 

		10.7.2.	SCP shall keep Innocoll informed of competition experienced in the Territory and when so requested
by Innocoll provide information on marketing activities and competitive products in the Territory.

 

		10.7.3.	SCP shall prepare all advertising promotional and marketing material for the Products and submit
the same to Innocoll for approval. On receipt of such approval (which shall not be unreasonably withheld or delayed) SCP shall
produce all such approved material at SCP’s expense.

 

		10.8.	SCP shall purchase the agreed annual minimum quantities defined in Exhibit C.

 

		10.9.	SCP has or will have and will maintain in force a product liability insurance which is covering
any and all liabilities of SCP relating to the Products.

 

	11.		Innocoll Obligations

 

		11.1.	Innocoll shall comply in all material respects with all laws, rules and regulations applicable
to the design, manufacture, labelling, packaging, storage and handling of the Product in the Territory, including maintaining qualified
manufacturing and quality facilities and/or procedures. Innocoll shall ensure that all third-party manufacturers of any raw materials
for the Product comply in all material respects with all laws, rules and regulations applicable to the design, manufacture, labelling
and packaging of the Product in the Territory. Without limiting the generality of the foregoing, Innocoll (and all third-party
manufacturers of any raw materials for Product) shall implement such quality

 

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control systems and
procedures as shall be appropriate to ensure compliance with the requirements of ISO and cGMP/QSR, which are applicable to Innocoll
or such third-party manufacturer as the manufacturer and supplier of the Product. Innocoll shall allow reasonable access to its
records, manufacturing facilities, and its third-party manufacturers’ manufacturing facilities and records (if applicable)
to allow any Regulatory Authority to conduct full compliance audits or inspections relating to the Product. Innocoll and any third
party manufacturer shall ensure that the Products are manufactured in strict compliance with the Specifications.

 

		11.2.	Innocoll hereby undertakes to sell the Products to SCP at the prices determined in accordance with
Exhibit B hereof and on terms and conditions in accordance with the provisions hereof.

 

		11.3.	Innocoll will without delay approve as appropriate the material for the advertising promotion and
marketing of the Products in the Territory as submitted by SCP.

 

		11.4.	Upon giving six months’ notice in writing Innocoll shall be entitled at its discretion to:

 

		11.4.1.	discontinue the manufacture of the Products;

 

		11.4.2.	or make changes or introduce modifications new presentations enhancements or improvements to the Products the Products’ packaging or branding or any part thereof; or

 

		11.4.3.	introduce new additional or replacement products.

 

		11.5.	Innocoll has and will maintain in force a product liability insurance which is covering any and
all liabilities of Innocoll relating to the Products.

 

	12.		Confidentiality Obligations

 

		12.1.	Each party agrees to maintain during the term of this Agreement and for a period of ten (10) years
thereafter the strictest confidence with regard to the confidential and/or proprietary information, in whatever medium, relating
to the Products and their manufacture, and any other information disclosed to it under this Agreement by the other party and proprietary
to it or its affiliates or any third party contract partners (the “Confidential Information”). Neither party
shall directly nor indirectly pass on the Confidential Information to others nor use it for any purpose not mentioned in this Agreement.
Each party shall have the right to disclose the other party’s Confidential Information to its employees or advisors who need
this knowledge for the purposes authorized herein. To the extent that a party discloses Confidential Information to an employee
or advisor, such party will be responsible for any failure by such persons or entities to hold such information in confidence or
use such information solely for the purposes of this Agreement.

 

		12.2.	The obligations of confidentiality and use restrictions set forth herein above will not apply to
the following information:

 

		12.2.1.	information that is or becomes publicly known or available by publication, commercial use or otherwise
without breach of this Agreement by the receiving party;

 

		12.2.2.	information that the receiving party rightfully receives from a third party without a restriction
on disclosure;

 

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		12.2.3.	information that must be disclosed pursuant to governmental and regulatory requirements (including
Certification Audits);

 

		12.2.4.	information that is independently developed by employees of the receiving party who nave not had
access to the Confidential Information; or

 

		12.2.5.	information that is known by the receiving party at the time of receipt.

 

	13.		Proprietary Rights

 

		13.1.	All Know-how (all manufacturing and technical data, instructions, specifications and experiences
regarding the Products as well as test methods developed) documented in the Specifications is owned by Innocoll (“Innocoll
Know-How”). Innocoll shall have a limited, royalty-free license to use the Innocoll Know-How in accordance with and for
the term of this Agreement.

 

		13.2.	Innocoll represents and warrants that Innocoll’s manufacturing methods do not infringe any
third party’s proprietary rights. Innocoll will indemnify and hold harmless SCP for any and all claims arising out of or
based on claims related to the intellectual property rights underlying such methods.

 

	14.		Warranties and Liability

 

		14.1.	Innocoll shall be responsible for all claims related to the Product to the extent arising from
(a) the gross negligence or wilful misconduct of Innocoll in the manufacturing of the Products, (b) a material breach of this Agreement
by Innocoll or (c) material breach of any law or regulation (that Innocoll is required to comply with hereunder) by Innocoll. SCP
shall be responsible for all claims related to the Product to the extent arising from:  (a) the gross negligence or wilful
misconduct of SCP in the marketing and promotion of products, (b) material breach of this Agreement by SCP or (c) material breach
of any law or regulation (that SCP is required to comply with hereunder) by SCP.

 

	15.		Indemnities

 

		15.1.	As soon as a party becomes aware of the possibility of a claim involving indemnification under
this article, the indemnified party shall give the indemnifying party prompt notice in writing and shall permit the indemnifying
party to have control over and conduct the defense of such claim or suit. The indemnified party agrees to provide all reasonable
information and assistance to the indemnifying party in such defense.

 

		15.2.	Innocoll shall indemnify and hold SCP harmless against all claims and expenses, including reasonable
legal expenses, arising out of the death or injury to any person or persons or out of any damages to property, whether during or
following the termination or expiration of this Agreement, resulting from the use of any products into which the Products were
incorporated where such death, injury or damage is attributable to any defect in a Product attributable to any negligent, reckless
or intentional act or omission by Innocoll, or the breach of this Agreement by Innocoll.

 

		15.3.	SCP shall indemnify and hold Innocoll harmless against all claims and expenses, including reasonable
legal expenses, arising out of the death or injury to any person or persons or out of any damages to property, whether during or
following the expiration or termination of this Agreement, resulting from the use of any products into which the Products were
incorporated where such death, injury or damage is attributable to any negligent, reckless or intentional act or omission by SCP,
or the breach of this Agreement by SCP.

 

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	16.		Term and Termination

 

		16.1.	This Agreement shall become effective on the Effective Date and shall continue for five (5)
years.

 

		16.2.	Each party shall be entitled to terminate the Agreement with immediate effect for material cause.
“Material cause” shall include, but not be limited to, the following:

 

		16.2.1.	if SCP fails to pay for the Products within the time set forth in Clause 5.1 & 5.2 above, if
SCP should fail to meet the minimum purchase obligations as specified in Exhibit C, or if SCP is otherwise in breach of its obligations
under this Agreement; then Innocoll, may, at its option, cancel this Agreement upon thirty (30) days’ prior written notice
to SCP unless SCP cures such breach and any intervening breach within such thirty (30) day period.

 

		16.2.2.	If Innocoll is in breach of its obligations under this Agreement then SCP may at its option cancel
this Agreement upon thirty (30) days prior written notice to Innocoll unless Innocoll cures such breach and any intervening breach
within such thirty (30) day period.

 

		16.2.3.	If the other party files a petition in bankruptcy, or applies for a consent to the appointment
of a receiver or trustee or suffers or permits the entry of an order adjudicating it to be bankrupt or insolvent.

 

		16.3.	Upon termination of this Agreement, only accounts payable and/or receivable and liabilities provided
for under this Agreement shall remain in effect, and neither party shall be entitled to any costs compensation or damages whatsoever
sustained resulting from, or arising out of or alleged to have been sustained, to have resulted from, or to have arisen out of
such termination.

 

		16.4.	Upon cancellation or expiration of this Agreement, SCP shall return all data, prospectuses and
materials including, without limitation, all copies of test results and other data accumulated, advertising and promotional materials
samples and instruments relating to the Products and in such event the distribution rights and all other rights granted to SCP
under this Agreement shall rev art to Innocoll and SCP shall not make further use of such technical information or disclose same.

 

		16.5.	Upon cancellation or expiration of this agreement, SCP shall immediately initiate the transfer
of the Product registration to Innocoll or its designee.

 

		16.6.	The termination of this Agreement shall not release either party from the obligation to make the
payment of any sum then owing, and it shall not release SCP from its obligation to pay Innocoll for all the Products ordered and
received, and Innocoll to deliver all the Products ordered which have been previously accepted by Innocoll as per section 3.2.

 

	17.		Miscellaneous Provisions

 

		17.1.	In case of force majeure, official orders, strike or lockout or similar hindrances which the parties
are unable to avert, the parties shall be released for the duration of such hindrance from the contractual obligations which they
are prevented from performing; provided however that if such suspension shall continue in excess of one hundred eighty (180)
days the parties shall meet and attempt to arrive at a mutually acceptable compromise within the spirit and intent of this Agreement.
In the event of shortage of production or supply of the Products for any reason Innocoll reserves the right to allocate

 

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its supplies of the
Products to itself and such other distributors or customers as it deems equitable.

 

		17.2.	This Agreement shall be governed by and construed in accordance with the substantive provisions
of Irish law. Place of jurisdiction and forum for any disputes shall be Dublin, Ireland.

 

		17.3.	If individual provisions or rules of this Agreement are invalid or become invalid, the parties
hereby agree that this shall not affect the validity of the remainder of the terms and provisions. The parties undertake to replace
the invalid provisions by others which come closest to the effect originally intended.

 

		17.4.	This Agreement and its appendices which form an integral part of this Agreement and are incorporated
herein by reference, represents the entire agreement of the parties relating to the subject matter. The General Terms and Conditions
of each party shall not apply to this Agreement.

 

		17.5.	Any amendments to this Agreement or, the appendices may only be made by mutual agreement of the
parties, and must be in writing and executed by both parties.

 

		17.6.	Any expiration or termination of this Agreement shall not release the parties from liabilities
or obligations accrued as of the date thereof.

 

		17.7.	This Agreement shall not be assigned by Innocoll or SCP to any third party without the prior written
consent of the other Party.

 

		17.8.	This Agreement has been prepared in the English language, and English shall control its interpretation
and meaning.

 

IN WITNESS WHEREOF, the
parties have executed this Agreement as of the Effective Date.

 

	Saudi Centre for Pharmaceuticals	 	Innocoll
	Pharmaceuticals Limited	 	 
	 	 	 
	/s/ Dr. Khalid Alkhanbashi	 	/s/ Denise Carter
	Dr. Khalid Alkhanbashi	 	Denise Carter
	Deputy General Manager	 	Vice President Business Development

 

5/12/2011

 

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	Exhibit A:  Products

 

CollaGUARD Adhesion Barrier

 

    	Exhibit A-1

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	Exhibit B:  Prices & Conditions

 

***

 

    	Exhibit B-1

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	Exhibit C:  Minimum Annual Purchase Requirements

 

***

 

    	Exhibit C-1Exhibit 10.7

 

 

INNOCOLL AG

 

SOFINNOVA VENTURE PARTNERS VIII, L.P.

 

CERTAIN SHAREHOLDERS OF INNOCOLL AG

 

 

 

SUPERVISORY
BOARD MEMBER NOMINATION AND VOTING AGREEMENT

 

DATED JULY [●], 2014

 

 

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	SECTION	PAGE
	 	 	 
	1.	Interpretation and Definitions	1
	 	 	 
	2.	Nomination and election of Board Member	3
	 	 	 
	3.	Representations	5
	 	 	 
	4.	Termination of the Agreement	5
	 	 	 
	5.	Notices	6
	 	 	 
	6.	Amendment; Waiver	6
	 	 	 
	7.	Further Assurances	7
	 	 	 
	8.	Assignment	7
	 	 	 
	9.	Third Parties	7
	 	 	 
	10.	Governing Law	7
	 	 	 
	11.	Jurisdiction; Waiver of Jury Trial	7
	 	 	 
	12.	Specific Performance	8
	 	 	 
	13.	Entire Agreement	8
	 	 	 
	14.	Severability	8
	 	 	 
	15.	Table of Contents, Headings and Captions	8
	 	 	 
	16.	Counterparts	8
	 	 	 
	17.	Effectiveness	9
	 	 	 
	18.	No Recourse	9

 

    	i

    	 

    

  

THIS SUPERVISORY BOARD MEMBER NOMINATION AND VOTING AGREEMENT
(this “Agreement”) is made on July [●], 2014.

 

Between: 

 

		1)	INNOCOLL AG, a stock corporation (Aktiengesellschaft) incorporated in the Federal Republic of Germany and registered
with the commercial register (Handelsregister) of the Local Court (Amtsgericht) of Regensburg with its registered
office located at Midlands Innovation and Research Centre, Dublin Road, Athlone, County Westmeath, Ireland (the Company);

 

		2)	SOFINNOVA VENTURE PARTNERS VIII, L.P., a Delaware limited partnership, with its registered office located at 3000 Sand Hill
Road, 4-250 Menlo Park, CA 94025 (Sofinnova); and

 

		3)	the shareholders of the Company listed on Schedule A hereto (the Significant Shareholders and, collectively with
the Company and Sofinnova, the Parties, and each a Party).

 

Whereas: 

 

(A) Sofinnova has provided an indication of interest to
acquire up to US $15 million in the Company in the form of ADSs (as defined below) at the closing of the IPO
(as defined below) (the Investment);

 

(B) It is understood that an investment in the ADSs of the Company
by Sofinnova in the IPO would be beneficial to the Company and its shareholders;

 

(C) The Parties agree that, if it makes the
above purchase, Sofinnova shall have the right, subject to the provisions set forth below, to designate a nominee to be
appointed or elected to the Board (as defined below) in accordance with the terms of this Agreement; and

 

(D) The Significant Shareholders agree to vote for the appointment
or election of the Sofinnova Board Nominee (as defined below) in accordance with the terms of this Agreement.

 

It is hereby agreed
as follows:

 

		1.	Interpretation
and Definitions

 

1.1           In
this Agreement, unless the context requires otherwise, the following words and expressions shall have the meanings respectively
set out opposite them:

 

ADSs means the Company's American Depositary Shares,
each representing 1/13.25 (or such other ratio as shall be finally agreed upon at the closing of the IPO) Ordinary Shares;

 

Affiliate has the meaning set forth in Rule 12b-2
promulgated under the U.S. Securities Exchange Act of 1934, as amended;

 

Board means the Company's supervisory board;

 

    	 

    	 

    

  

Board Member means a member of the Board;

 

Constitutional Documents means the Articles of
Association, the rules of the Supervisory Board and the rules of the management board of the Company, as the same are in effect
from time to time;

 

Effective Date means such date on which Sofinnova
has acquired ADSs as part of the Investment with a value at the time of the acquisition of at least the Sofinnova Minimum Investment;

 

EGM means an extraordinary general meeting of
the shareholders of the Company;

 

Governmental Authority means any nation or government,
any state or other political subdivision thereof, and any entity exercising executive, legislative, judicial, regulatory or administration
functions of or pertaining to government;

 

IPO means the initial public offering of the ADSs;

 

Law means any statute, law, regulation, ordinance,
rule, injunction, order, decree, governmental approval, directive, requirement, or other governmental restriction or any similar
form of decision of, or determination by, or any interpretation or administration of any of the foregoing by, any Governmental
Authority;

 

Ordinary Shares means the ordinary shares of the
Company, €1.00 notional value per share;

 

Person means an individual, partnership, corporation,
limited liability company, association, joint stock company, trust, joint venture, unincorporated organization, or other form of
business organization, whether or not regarded as a legal entity under applicable Law, or any Governmental Authority or any department,
agency or political subdivision thereof;

 

Purchased ADSs means the ADSs acquired by Sofinnova
pursuant to the Investment;

 

Shareholders shall mean all shareholders of the
Company from time to time;

 

Sofinnova Minimum Investment means an Investment
in the amount of US$12.0 million, or such lesser amount as the Company or its underwriters may allocate to Sofinnova in the IPO;

 

Sofinnova Board Nominee means a Board member nominated
for appointment to the Board by Sofinnova in accordance with this Agreement.

 

1.2           Section
headings and the table of contents are inserted for ease of reference only and shall not in any way affect the interpretation of
this Agreement.

 

1.3           References
to Sections are to be construed as references to the Sections of this Agreement.

 

1.4           References
to any other document or any provision thereof shall be construed as references thereto as it is in force for the time being and
as amended or supplemented or replaced

 

    	2

    	 

    

 

from time to time in accordance with the terms thereof
or, as the case may be, with the agreement of the relevant Parties or the consent of a specified Party.

 

1.5           Words
importing the plural shall include the singular and vice versa and words importing the masculine gender shall include the feminine
and vice versa and words denoting persons shall include companies and other legal entities.

 

1.6           References
to any Law or provision of any Law include any Law or statutory provision of any Law which amends, extends, consolidates or replaces
the same, or which has been amended, extended, consolidated or replaced by the same, and shall include any orders, regulations,
instruments or other subordinate legislation made under the relevant Law or provision of any Law.

 

		2.	Nomination
and election of Board Member

 

2.1           Sofinnova
shall be entitled to designate one person for election or appointment to the Board. The Sofinnova Board Nominee shall be a person
who is qualified to serve on the Board of a public pharmaceutical company that is not prohibited from serving on the Board by any
applicable Law or rule or regulation of NASDAQ. Sofinnova agrees that its designee will make himself available to meet the members
of the Supervisory Board and the Management Board prior to his election or appointment.

 

2.2           The
Board, and the management board of the Company are required, within the limits of the applicable rules and regulations of the German
Stock Corporation Act (Aktiengesetz) and the Constitutional Documents, to perform all relevant actions resulting in a Board
membership of one Sofinnova Board Nominee as soon as practicable after the Effective Date and in any event no later than 45 days
following the pricing of the IPO, including: (i) voting (whether at a EGM or by any other method permitted by Law) all their Ordinary
Shares (including any Ordinary Shares underlying any ADRs); (ii) after receiving proper notice of any and all EGMs to vote on the
approval of such matters, being present, in person or by proxy, along with any of their respective affiliated entities, as holders
of Ordinary Shares (including any Ordinary Shares underlying any ADRs), at all such meetings so that all shares of voting securities
beneficially; (iii) executing and delivering all related documentation and taking such other action in support of such matters
as shall reasonably be requested by the Company and Sofinnova to carry out the terms and provisions of this Agreement;

 

2.3           Following
notice from Sofinnova to the Company of the identity of the Sofinnova Board Nominee, the Company shall:

 

(a)          perform
all relevant actions resulting in a Board membership of one Sofinnova Board Nominee, including, without limitation, if required,
calling an EGM as soon as reasonably possible thereafter, taking into consideration the requirements of the Constitutional Documents
and the German Stock Corporation Act;

 

(b)          perform
such other acts as are required to put forward such Sofinnova Board Nominee for election at such EGM. If applicable, the Company
shall include the Sofinnova Board Nominee in the list of nominees for election in the invitation to the

 

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EGM and take reasonable steps to support the election
of such Sofinnova Board Nominee; and

 

(c)          if
there is no vacancy or expected vacancy on the Board at the time that Sofinnova informs the Company of the identity of the Sofinnova
Board Nominee, the Company shall perform such acts as are reasonably necessary to put forward for a vote to the Shareholders at
the EGM to increase the number of members of the Board by three (3) such that one vacancy is available for the Sofinnova Board
Nominee.

 

2.4           Each
Significant Shareholder agrees, to the maximum extent permissible under applicable law, to (i) vote or instruct the Depositary
to vote, all its Ordinary Shares (including any Ordinary Shares underlying any ADRs) registered in its name or beneficially owned
by it as of the date hereof and any and all other securities of the Company legally or beneficially acquired by any Significant
Shareholder after the date hereof (hereinafter collectively referred to as the Significant Shares) on all matters
relating to the election of the Sofinnova Board Nominee so as to elect such Sofinnova Board Nominee (including agreeing to an increase
in the size of the Board as set forth in Section 2.3(c) above, if necessary); and (ii) not to deposit its Ordinary Shares (including
any Ordinary Shares underlying any ADRs) in a voting trust or otherwise subject its Ordinary Shares to any arrangement or agreement
with respect to the voting thereof (except in each case, this Agreement); provided, however, if (A) the Significant Shareholder
in good faith believes the Sofinnova Board Nominee would fail to meet any requirements of applicable Law or rule or regulation
of NASDAQ, or (B) the Sofinnova Board Nominee has been convicted of a felony, the Significant Shareholder does not have any obligation
hereunder with respect to such individual and the Significant Shareholder shall provide Sofinnova with a reasonable opportunity
to designate a replacement nominee.

 

2.5           In
the event that Sofinnova (together with its Affiliates) ceases to own ADSs equal to 50% of Purchased ADSs, the Sofinnova Board
Nominee shall offer to resign from the Board. The Board shall, in its sole discretion, decide to accept or decline such resignation
(for the avoidance of doubt, the Sofinnova Board Nominee shall not be precluded from resigning from the Board in accordance with
the Constitutional Documents and applicable Law, and the Sofinnova Board Nominee shall be subject to removal from the Board in
accordance with the Constitutional Documents and the German Stock Corporation Act). Nothing herein creates an obligation by the
Company or the Significant Shareholders to nominate a Board member after the initial election or appointment of the Sofinnova Board
Nominee.

 

2.6           Any
nomination for appointment or election of a Sofinnova Board Nominee by Sofinnova under this Section 2 shall be by notice in writing
delivered to the Management Board of the Company and signed on behalf of Sofinnova by an authorized signatory.

 

2.7           The
Company shall reimburse the Sofinnova Board Nominee for all reasonable out-of-pocket travel expenses incurred (consistent with
the Company’s policy on expense reimbursement for its Board members) in connection with attending meetings of the Board and
for reasonable out-of-pocket expenses actually incurred while working for the benefit of the Company.

 

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2.8           Immediately
following the appointment of the Sofinnova Board Nominee to the Board, the Company shall (i) add such designee as a covered party
under the Company’s director and officer insurance policy and (ii) deliver to such Sofinnova Board Nominee an indemnification
agreement, duly executed by the Company, and in the same form entered into by the Company with each of the Company’s other
Board members, provided that such indemnification agreement is permitted under applicable law and that any such indemnification
agreement is being entered into with other Board members of the Company.

 

2.9           To
secure the obligations of the Significant Shareholders to vote their Significant Shares as required by the provisions of this Agreement,
each Significant Shareholder hereby appoints any member of the Board or any person appointed by Sofinnova (each, a Proxy)
as its, his or her true and lawful proxy and attorney-in-fact, with full power of substitution, to take all reasonable actions
necessary to vote such Significant Shares in accordance with the provisions of this Agreement. The Proxy may exercise the irrevocable
proxy granted to him or her hereunder, in his or her sole discretion, at any time any Significant Shareholder fails to comply with
the provisions of this Agreement. The proxies and powers granted pursuant to this Section 2.9 are coupled with an interest and
are given to secure the performance of each of the obligations of the Significant Shareholders hereunder. Such proxies and powers
are irrevocable for the term of this Agreement and shall survive the death, incompetency, disability, bankruptcy or dissolution
of such Significant Shareholder and bind the subsequent holders of such Significant Shares.

 

		3.	Representations

 

The Company hereby represents and warrants to Sofinnova that
the following representations are true and complete:

 

3.1           All
corporate action has been taken on the part of the Board and Company’s shareholders that are necessary for the authorization,
execution and delivery of this Agreement by the Company and the performance by the Company of the obligations to be performed by
the Company as of the date hereof under this Agreement. This Agreement, when executed and delivered by the Company, shall constitute
valid and legally binding obligations of the Company, enforceable against the Company in accordance with their respective terms
except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of
general application relating to or affecting the enforcement of creditors’ rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies and (iii) as limited by the mandatory
provisions of the German Stock Corporation Act.

 

3.2           The
Significant Shareholders hold sufficient shares along with those shares held by Sofinnova (and will continue to hold sufficient
shares following the closing of the IPO) to take all actions required to result in a Board membership of one Sofinnova Board Nominee
as set forth in this Agreement.

 

		4.	Termination
of the Agreement

 

4.1           This
Agreement (other than Sections 1, 2.8 and Sections 6 to 18 (inclusive) which shall remain in force) shall terminate with immediate
effect, and save in respect of any prior breach or

 

    	5

    	 

    

 

any such specified provisions, no Party hereto shall have any
rights or obligations hereunder, upon the earliest of:

 

(a)          the
initial election or appointment of the Sofinnova Board Nominee to the Board;

 

(b)          the
date on which Sofinnova (together with its respective Affiliates) ceases to own ADSs equal to 50% of the Purchased ADSs;

 

(c)          the
delivery of a written notice by Sofinnova to the Company requesting that this Agreement terminate; and

 

(d)          December
1, 2014.

 

		5.	Notices

 

Any notice provided for in this Agreement shall be in writing
and shall be either personally delivered, or mailed first class mail (postage prepaid) or sent by reputable overnight courier service
(charges prepaid) to the Company at the address set forth below and to Sofinnova at the address set forth below, or at such address
or to the attention of such other person as the recipient Party has specified by prior written notice to the sending Party. Notices
will be deemed to have been given hereunder when sent by facsimile (receipt confirmed), delivered personally, five days after deposit
in the U.S. mail and one day after deposit with a reputable overnight courier service.

 

	If to the Company:	 	Innocoll Inc.
	 	 	Midlands Innovation & Research Centre
	 	 	Dublin Road,
	 	 	Athlone,
	 	 	Co. Westmeath
	 	 	IRELAND
	 	 	 
	Attention:	 	Michael Myers, Ph.D., Chief Executive Officer
	 	 	 
	If to Sofinnova:	 	Sofinnova Ventures
	 	 	3000 Sand Hill Road, 4-250
	 	 	Menlo Park, CA 94025
	 	 	 
	Attention:	 	Hooman Shahlavi, Esq., General Counsel
	 	 	 
	If to the Significant	 	 
	 	 	 
	Shareholders:	 	At such address for the relevant Significant Shareholder set forth on Schedule A hereto.

 

		6.	Amendment;
Waiver

 

This Agreement may be amended, supplemented or otherwise modified
only by a written instrument executed by each Party hereto. Neither the failure nor delay on the part of any Party

 

    	6

    	 

    

  

hereto to exercise any right, remedy, power or privilege under
this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege
preclude any other or further exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any
right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege
with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the Party asserted
to have granted such waiver.

 

		7.	Further Assurances

 

The Parties hereto will sign such further documents, cause such
meetings to be held, resolutions passed, exercise their votes and do and perform and cause to be done such further acts and things
necessary, proper or advisable in order to give full effect to this Agreement and every provision hereof. To the fullest extent
permitted by Law and the Constitutional Documents, neither the Company nor any Significant Shareholder shall, directly or indirectly
take any action that is intended to, or would reasonably be expected to result in, Sofinnova being deprived of the rights contemplated
by this Agreement.

 

		8.	Assignment

 

This Agreement will inure to the benefit of and be binding on
the Parties hereto and their respective successors and permitted assigns. This Agreement may not be assigned without the express
prior written consent of the other Parties hereto, and any attempted assignment, without such consents, will be null and void,
provided, however, that Sofinnova shall be entitled to assign its rights hereunder to any of its wholly-owned Affiliates without
such prior written consent so long as Sofinnova also transfers ADSs to any such Affiliate equal to 100% of the number of Purchased
ADSs and such Affiliate agrees to be bound by all the obligations of Sofinnova under the Agreement.

 

		9.	Third Parties

 

This Agreement does not create any rights, claims or benefits
inuring to any Person that is not a Party hereto nor create or establish any third party beneficiary hereto.

 

		10.	Governing Law

 

This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without regard to principles of conflicts of laws thereof.

 

		11.	Jurisdiction;
Waiver of Jury Trial

 

In any judicial proceeding involving any dispute, controversy
or claim arising out of or relating to this Agreement, each of the Parties unconditionally accepts the jurisdiction and venue of
the State of New York sitting in New York County, and of the United States District Court of the Southern District of New York,
and any appellate court from any thereof, and each of the Parties hereto irrevocably and unconditionally submits to the exclusive
jurisdiction of such courts and agrees that any such action, litigation or proceeding may be brought in any such New York state
court or, to the fullest extent permitted by applicable Law, in such federal court. Each of the

 

    	7

    	 

    

  

Parties hereto agrees that a final judgment in any such action,
litigation or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by Law. In any such judicial proceeding, the Parties agree that in addition to any method for the service of process
permitted or required by such courts, to the fullest extent permitted by law, service of process may be made by delivery provided
pursuant to the directions in Section 6. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW TRIAL
BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING ANY DISPUTE, CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

		12.	Specific Performance

 

Each Party hereto acknowledges and agrees that in the event
of any breach of this Agreement by any of them, the other Parties hereto may be irreparably harmed and may not be made whole by
monetary damages. Each Party accordingly agrees to waive the defense in any action for specific performance that a remedy at law
would be adequate and that the Parties, in addition to any other remedy to which they may be entitled at Law or in equity, shall
be entitled to specific performance of this Agreement without the posting of bond.

 

		13.	Entire Agreement

 

This Agreement sets forth the entire understanding of the Parties
hereto with respect to the subject matter hereof. There are no agreements, representations, warranties, covenants or understandings
with respect to the subject matter hereof or thereof other than those expressly set forth herein and therein. This Agreement supersedes
all other prior agreements and understandings between the Parties with respect to such subject matter.

 

		14.	Severability

 

If any provision of this Agreement, or the application of such
provision to any Person or circumstance or in any jurisdiction, shall be held to be invalid or unenforceable to any extent, (i)
the remainder of this Agreement shall not be affected thereby, and each other provision hereof shall be valid and enforceable to
the fullest extent permitted by law, (ii) as to such Person or circumstance or in such jurisdiction such provision shall be reformed
to be valid and enforceable to the fullest extent permitted by law and (iii) the application of such provision to other Persons
or circumstances or in other jurisdictions shall not be affected thereby.

 

		15.	Table of Contents,
Headings and Captions

 

The table of contents, headings, subheadings and captions contained
in this Agreement are included for convenience of reference only, and in no way define, limit or describe the scope of this Agreement
or the intent of any provision hereof.

 

		16.	Counterparts

 

This Agreement and any amendment hereto may be signed in any
number of separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one
Agreement (or amendment, as applicable).

 

    	8

    	 

    

  

		17.	Effectiveness

 

This Agreement shall become effective on the Effective Date.
For the avoidance of doubt, this Agreement shall be of no force or effect if Sofinnova does not acquire ADSs in the Investment
with a value at the time of the acquisition of at least the Sofinnova Minimum Investment.

 

		18.	No Recourse

 

This Agreement may only be enforced against, and any claims
or cause of action that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance
of this Agreement may only be made against the entities that are expressly identified as Parties hereto and no past, present or
future Affiliate, director, officer, employee, incorporator, member, manager, partner, stockholder, agent, attorney or representative
of any Party hereto shall have any liability for any obligations or liabilities of the Parties to this Agreement or for any claim
based on, in respect of, or by reason of, the transactions contemplated hereby.

 

		19.	Applicability

 

This Agreement applies only to (i) the Ordinary Shares attributed
to each Significant Shareholder in the table under the header “PRINCIPAL SHAREHOLDERS” in the Company’s registration
statement on Form F-1/A filed with the United States Securities and Exchange Commission (the “SEC”) on
July 15, 2017; and (ii) and any and all other securities of the Company beneficially acquired by any Significant Shareholder after
the date hereof (hereinafter collectively referred to as the Significant Shares) which would have been required to be included
in the table referred to in (i) immediately above pursuant to the requirements of Form F-1 as promulgated by the SEC, provided
that in the case of Morgan Stanley & Co. LLC, this Agreement only applies to securities held by the NY Distressed Debt Trading
and Analytics Desk of Morgan Stanley & Co. LLC and not to any securities held by Morgan Stanley & Co. LLC as broker or
other similar capacity on behalf of an unaffiliated third party.

 

    	9

    	 

    

  

IN WITNESS WHEREOF, the Parties hereto have executed
this Agreement on the day and year first above written.

 

	EXECUTED by	 	 
	for and on behalf of INNOCOLL AG	[●]	 

 

	 	Name:	 	 

 

EXECUTED by

for and on behalf of

 

SOFINNOVA VENTURE PARTNERS VIII, L.P.

By:  Sofinnova Management VIII, L.L.C.

Its General Partner 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

ACKNOWLEDGED AND AGREED by

for and on behalf of the Innocoll AG Supervisory Board

 

By:  Jonathan Symonds

Its Chairman

	By:	 	 

 

EXECUTED by

for and on behalf of [Significant Shareholders] 

	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    	10

    	 

    

  

SCHEDULE A

 

    	11

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