Document:

EX-10.14

 Exhibit 10.14 

OPHTHOTECH CORPORATION 
 One Penn
Plaza 
 35th Floor 

New York, NY 10119 
 (212) 845-8200

 April 26, 2013 
 Dr. David Guyer 

Dear David: 
 It is my pleasure to extend to you this offer of
employment with Ophthotech Corporation (the “Company”), subject to your acceptance of the terms hereof and approval by the Company’s Board of Directors (the “Board”). On behalf of the Company, I set forth below the proposed
terms of your employment: 
  

	 	1.	Employment. You will be employed to serve on a full-time basis as the Company’s Chief Executive Officer, effective April 26, 2013. As the Company’s Chief Executive Officer, you will report
to the Board and you shall have the duties, responsibilities and authority commensurate with your position in companies of similar type and size. The Company acknowledges that upon the effective date of your employment you shall remain as a member
of the Board. All employees shall report to you or your designee. You agree to devote your full business time, efforts, skill, knowledge, attention and energies to the advancement of the Company’s business and interests and to the performance
of your duties and responsibilities as an employee of the Company. Notwithstanding the foregoing, you shall be permitted to continue serving on the boards of directors of three other companies, initially PanOptica, Inc., Allocure, Inc. and Imagen
Biotech Inc., provided that such service does not entail an operating role, does not materially interfere with the performance of your duties and responsibilities to the Company and does not compete with the Company and your role as provided in
Section 16. For purposes hereof, a business will be deemed to be competitive with the Company if it engages in the research, development or commercialization of pharmaceutical or diagnostic products for ocular diseases whose primary mechanism
of action is directed at the pdgf molecule and/or its receptor or the C5 molecule and/or its receptor. On or prior to the closing of the Company’s initial public offering of its common stock, you shall reduce the number of boards of directors
(other than the Board) on which you serve to no more than two, provided that the Board would consider permitting you to serve on a third board of directors in its discretion. In addition, you shall be permitted to provide de minimis
consulting services, initially to Rapid Pathogen Screening, Inc., Aerpio Therapeutics, Inc., Sensimed AG, Neurotech Pharmaceuticals, Inc. and Kala Pharmaceuticals, Inc. You agree to maintain a log of the time you spend providing service as a
consultant and to furnish such log to the Board upon request. You further agree to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein not inconsistent with this letter that may be
adopted from time to time by the Company. 

	 	2.	Base Salary. Your base salary will be at the rate of $43,333.33 per monthly pay period (which if annualized equals $520,000), less all applicable taxes and withholdings, to be paid in installments in
accordance with the Company’s regular payroll practices. 

  

	 	3.	Discretionary Bonus. Following the end of each calendar year and subject to the approval of the Board, you will be eligible for a performance bonus of up to 60% of your annualized base salary, based on
your personal performance and the Company’s performance during the applicable calendar year, as determined by the Board in its sole discretion. In any event, you must be an active employee of the Company on the date the bonus is distributed in
order to be eligible for and to earn any bonus award, as it also serves as an incentive to remain employed by the Company, except as otherwise provided herein. Any bonus would be pro-rated for the 2013 calendar year. 

 

	 	4.	 Equity. Subject to your execution of the Company’s standard form of stock option agreement, you are being granted options to
purchase an aggregate of 3,982,258 shares of the Company’s common stock, which equals approximately 3.1% of the Company’s fully diluted capital stock on an as-converted to common stock basis (calculated assuming the issuance of up to
20,000,000 shares in connection with the proposed Series C preferred stock financing contemplated by the term sheet previously executed by the Company and Novo A/S (the “Series C Financing”)). For purposes of clarity, such options would be
in addition to any stock awards previously granted to you, including the 750,000 shares of common stock granted to you and the 750,000 shares of common stock granted to The Guyer Family Irrevocable Trust. Such options would be issued with an
exercise price, based on fair market value, of $1.70 per share and would vest in 48 equal monthly installments over the four-year period beginning on the effective date of your employment, pursuant to the terms of the stock option agreement and
subject to your continued employment with the Company. Notwithstanding the time based vesting provided for above, an aggregate of 620,000 shares subject to such options (the “Contingent Option Shares”) shall only vest subject to the
issuance and sale by the Company of shares in the Series C Financing. Upon each issuance of shares in the Series C Financing (each, a “Series C Closing”), a number of Contingent Option Shares equal to 3.1% of the number of shares issued at
such Series C Closing shall vest, subject to any remaining time based vesting conditions. Upon the consummation of a Change in Control Event (as defined in the Company’s Amended and Restated 2007 Stock Incentive Plan) on or following the date
that is six months after the effective date of your employment and subject to your continued employment with the Company as of such time or your termination by the Company without Cause within seventy-five (75) days prior to (and in
contemplation of) such Change in Control Event, such options shall become immediately exercisable in full with respect to all unvested shares subject to such options (other than any Contingent Option Shares the vesting of which has not been
triggered as a result of a Series C Closing). Upon the consummation of a Change in Control Event prior to the date that is six months after 

  
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the effective date of your employment and subject to your continued employment with the Company as of such time or your termination by the Company without Cause within seventy-five (75) days
prior to (and in contemplation of) such Change in Control Event, such options shall become immediately exercisable with respect to 66.7% of the unvested shares subject to such options (other than any Contingent Option Shares the vesting of which has
not been triggered as a result of a Series C Closing) and the options shall terminate and expire with respect to the remaining 33.3% of such unvested shares. Upon the consummation of a Change in Control Event, such options shall terminate and expire
with respect to any Contingent Option Shares the vesting of which has not been triggered as a result of a Series C Closing. 

As an example, if the first Series C Closing occurs on the date that is one month after the effective date of your employment and 6,666,667
shares are issued at such Series C Closing, then 206,667 Contingent Option Shares would vest, subject to the remaining time based vesting. If a Change in Control Event is then consummated on the date that is four months after the effective date of
your employment without any additional Series C Closing having occurred, then (i) your options would terminate and expire with respect to an aggregate of 1,502,747 shares, comprised of (A) the remaining 413,333 Contingent Option Shares the
vesting of which was not triggered and (B) 1,089,414 shares, which equals 33.3% of the unvested shares subject to such options (other than the Contingent Option Shares the vesting of which was not triggered) and (ii) your options would be
immediately exercisable for an aggregate of 2,479,511 shares, comprised of (A) 297,410 shares previously vested based on time based vesting and (B) 2,182,101 shares, which equals 66.7% of the unvested shares subject to such options (other
than the Contingent Option Shares the vesting of which was not triggered). 
  

	 	5.	Benefits. You may participate in any and all benefit programs that the Company establishes and makes available to its employees from time to time, provided that you are eligible under (and subject to all
provisions of) the plan documents that govern those programs. Benefits are subject to change at any time in the Company’s sole discretion. 

  

	 	6.	 Severance. If your employment is terminated by the Company without Cause or by you for Good Reason, then (subject to your executing (and
not revoking) a separation agreement as described below) the Company will (i) pay you an amount equal to twelve (12) months of your base salary, less standard employment-related withholdings and deductions, which amount shall be paid to
you in a lump sum on the Payment Date (as defined below), (ii) pay you a pro-rated portion of the bonus to which you would otherwise be entitled pursuant to Section 3 hereof for the year in which your employment terminates, less standard
employment-related withholdings and deductions, which amount shall be paid to you at the same time bonuses for other executives are paid for such year, and (iii) provide for continued coverage, at the Company’s expense, under the
Company’s medical and dental benefit plans to the extent permitted under such plans for a period of twelve (12) months immediately following the date of the termination of your employment. The Company shall not be obligated to pay to you
the severance payments provided for herein unless you have 

  
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timely executed (and not revoked) a separation agreement in substantially the form attached hereto. Such separation agreement must be executed and become binding and enforceable within sixty
(60) calendar days after the effective date of your termination of employment (such 60th day, the “Payment Date”); provided, however, that if the 60th day following the date of termination occurs in the next calendar year following the date of termination, then the Payment Date shall be no earlier than January 1 of such following calendar
year. 
 For purposes hereof, “Cause” shall mean that: (i) you failed to attempt in good faith, refused or willfully neglected
to perform and discharge your material duties and responsibilities; (ii) you have been convicted of, or pled nolo contendere to, a felony or other crime involving fraud or moral turpitude; (iii) you breached your fiduciary duty or
loyalty to the Company, or acted fraudulently or with material dishonesty in discharging your duties to the Company; (iv) you undertook an intentional act or omission of misconduct that materially harmed or was reasonably likely to materially
harm the business, interests, or reputation of the Company; (v) you materially breached any material provision hereof; or (vi) you materially breached any material provision of any Company code of conduct or ethics policy. Notwithstanding
the foregoing, “Cause” shall not be deemed to have occurred unless: (A) the Company provides you with written notice that it intends to terminate your employment hereunder for one of the grounds set forth in subsections (i),
(v) or (vi) within sixty (60) days of such reason(s) occurring, (B) if such ground is capable of being cured, you have failed to cure such ground within a period of thirty (30) days from the date of such written notice, and
(C) the Company terminates your employment within six (6) months from the date that Cause first occurs. 
 For purposes hereof,
“Good Reason” shall mean, without your written consent: (i) any change in your position, title or reporting relationship with the Company that diminishes in any material respect your title, authority, duties or responsibilities,
including your removal as a member of the Board; provided, however, that (A) a change in your title or reporting relationship solely due to the Company becoming a division, subsidiary or other similar part of a larger
organization, or your removal as a member of the Board, following a Change of Control Event shall not by itself constitute Good Reason until the first anniversary of the Change in Control Event and (B) your ceasing to serve as Chairman of the
Board shall not by itself constitute Good Reason if you are still serving as a member of the Board; (ii) any material reduction in your base compensation; (iii) a material change in the geographic location at which services are to be
performed by you; or (iv) a material breach of any provision hereof by the Company or any successor or assign. Notwithstanding the foregoing, “Good Reason” shall not be deemed to have occurred unless: (A) you provide the Company
with written notice that you intend to terminate your employment hereunder for one of the grounds set forth in subsections (i), (ii), (iii) or (iv) within sixty (60) days of such reason(s) occurring, (B) if such ground is capable
of being cured, the Company has failed to cure such ground within a period of thirty (30) days from the date of such written notice, and (C) you terminate your employment within six (6) months from the date that Good Reason first
occurs. For purposes of clarification, the above-listed conditions shall apply separately to each occurrence of Good Reason and failure to adhere to such conditions in the event of Good Reason shall not disqualify you from asserting Good Reason for
any subsequent occurrence of Good Reason. 

  
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	 	7.	Gross-Up. (a) If it shall be determined that any payment, benefit or distribution (or combination thereof) by the Company or any of its affiliates, to you or for your benefit, whether paid, payable,
distributed, distributable or provided pursuant hereto or otherwise, including any payment, benefit or other right that constitutes a “parachute payment” (a “Payment”) within the meaning of Section 280G of the Internal
Revenue Code of 1986, as amended (the “Code”), that is paid or payable to you or for your benefit during the term of this letter would be subject to the excise tax imposed by Section 4999 of the Code, together with any interest or
penalties imposed with respect to such tax (the “Excise Tax”), you shall be entitled to receive an additional payment (a “280G Gross-Up Payment”) in an amount such that, after payment by you of all taxes (and any interest or
penalties imposed with respect to such taxes), including any income and employment taxes and Excise Taxes imposed upon the 280G Gross-Up Payment, you retain an amount of the 280G Gross-Up Payment equal to the Excise Tax imposed upon such Payments.

 (b) Subject to the provisions of Section 7(c), all determinations required to be made under this Section 7,
including whether and when a 280G Gross-Up Payment is required, the amount of such 280G Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made in accordance with the terms of this Section 7 by a
nationally recognized certified public accounting firm, other than the Company’s regular auditor, or by the Company’s outside legal counsel, in each case that shall be selected by the Company and shall be reasonably acceptable to you (the
“Accounting Firm”). The Company shall direct the Accounting Firm to provide detailed supporting calculations to both the Company and you within 15 Business Days after the receipt of notice from you that there has been a Payment or such
earlier time as is requested by the Company. All fees and expenses of the Accounting Firm shall be borne by the Company. Any 280G Gross-Up Payment, as determined pursuant to this Section 7, shall be paid by the Company to you within five
Business Days after the receipt of the Accounting Firm’s determination (but in all events no later than the end of the taxable year following the taxable year in which any tax is remitted to the relevant taxing authority). The Company shall
instruct the Accounting Firm to inform you in writing if the Accounting Firm determines that no Excise Tax is payable by you. Any determination by the Accounting Firm shall be binding upon the Company and you. As a result of the uncertainty in the
application of the Excise Tax, at the time of the initial determination by the Accounting Firm hereunder, it is possible that the amount of the 280G Gross-Up Payment determined by the Accounting Firm to be due to you, consistent with the
calculations required to be made hereunder, will be lower than the amount actually due, including any interest and penalties (an “Underpayment”) or higher than the amount actually due, including any interest and penalties (an
“Overpayment”). If the Company exhausts its remedies pursuant to Section 7(c) and you thereafter are required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred
and any such Underpayment shall be paid by the Company to you within five Business Days after the receipt of the Accounting Firm’s determination. Within 15 Business 

  
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Days after you files his income tax returns for any year in which the Company makes a 280G Gross-Up Payment, you shall submit true and complete copies thereof to the Accounting Firm for purposes
of determining if there has been an Overpayment. The Accounting Firm shall be instructed to make such determination within 20 Business Days. If the Accounting Firm determines that the Company has made an Overpayment to you, then within ten Business
Days you shall repay to the Company the amount of such Overpayment. 
 (c) You shall notify the Company of any written claim by the Internal
Revenue Service (the “IRS”) that, if successful, would require the payment by the Company of a 280G Gross-Up Payment. Such notification shall be given as soon as practicable, but no later than ten Business Days after you are informed in
writing of such claim. Failure to give timely notice shall not prejudice your right to 280G Gross-Up Payments and rights of indemnity under this Section 7. You shall apprise the Company of the nature of such claim and the date the IRS specifies
as the due date for payment of such claim. You shall not pay such claim prior to the expiration of the 30-day period following the date on which you give such notice to the Company (or such shorter period ending on the date that any payment of taxes
with respect to such claim is due). If the Company notifies you in writing prior to the expiration of such period that the Company desires to contest such claim, you shall (i) give the Company any information reasonably requested by the Company
relating to such claim, (ii) take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time, including accepting legal representation with respect to such claim by an attorney
reasonably selected by the Company, (iii) cooperate with the Company in good faith in order effectively to contest such claim and (iv) permit the Company to participate in any proceedings relating to such claim; provided, however, that the
Company shall bear and pay directly all costs and expenses (including additional income taxes, interest and penalties) incurred in connection with such contest, and shall indemnify and hold you harmless, on an after-tax basis, for any Excise Tax or
any other tax (including interest or penalties) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Section 7(c), the Company shall control all proceedings taken
in connection with such contest, and, at its sole discretion, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the applicable taxing authority in respect of such claim and may, at its sole
discretion, either direct the Executive to pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and you agree to prosecute such contest to a determination before any administrative tribunal, in a court of initial
jurisdiction and in one or more appellate courts, as the Company shall determine; provided, however, that (A) if the Company directs you to pay such claim and sue for a refund, the Company shall advance the amount of such payment to you,
on an interest-free basis, and shall indemnify and hold you harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties) imposed with respect to such advance or with respect to any imputed income in connection
with such advance and (B) if such contest results in any extension of the statute of limitations relating to payment of taxes for your taxable year with respect to which such contested amount is claimed to be due, such extension must be limited
solely to such contested amount. Furthermore, the 

  
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Company’s control of the contest shall be limited to issues with respect to which the 280G Gross-Up Payment would be payable hereunder, and you shall be entitled to settle or contest, as the
case may be, any other issue raised by the IRS or any other taxing authority. 
 (d) If, after the receipt by you of an amount advanced by
the Company pursuant to Section 7(c), you become entitled to receive any refund with respect to such claim, you shall (subject to the Company’s complying with the requirements of Section 7(c)) promptly pay to the Company the amount of
such refund received (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by you of an amount advanced by the Company pursuant to Section 7(c), a determination is made that you shall not be
entitled to any refund with respect to such claim and the Company does not notify you in writing of its intent to contest such denial of refund prior to the expiration of the 30-day period after such determination, then such advance shall be
forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of 280G Gross-Up Payment required to be paid. 

(e) As used in this Section 7, “Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks
in the State of New York are authorized of required by law or executive order to remain closed. 
 (f) No provision of this Section 7 is
intended to violate the provisions of the Sarbanes-Oxley Act of 2002 with regard to loans and, to the extent such would be applicable and any amount would be deemed a loan thereunder, such amount shall be deemed to be a nonrepayable payment to you.

  

	 	8.	Vacation. You will be eligible for four (4) weeks of paid vacation per calendar year to be taken at such times as are commensurate with your duties. 

 

	 	9.	Invention, Non-Disclosure, Non-Competition and Non-Solicitation Agreement. As a condition of employment, you will be required to execute the attached Invention, Non-Disclosure, Non-Competition and
Non-Solicitation Agreement (the “Non-Competition Agreement”). 

  

	 	10.	No Conflict. You represent that you are not bound by any employment contract, restrictive covenant or other restriction preventing you from entering into employment with or carrying out your
responsibilities for the Company, or which is in any way inconsistent with the terms of this offer letter. 

  

	 	11.	Proof of Legal Right to Work. You agree to provide to the Company, within three (3) days of your date of hire, documentation proving your eligibility to work in the United States, as required by the
Immigration Reform and Control Act of 1986. You may need a work visa in order to be eligible to work in the United States. If that is the case, your employment with the Company will be conditioned upon your obtaining a work visa in a timely manner
as determined by the Company. 

  
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	 	12.	At-Will Employment. This letter shall not be construed as an agreement, either express or implied, to employ you for any stated term, and shall in no way alter the Company’s policy of employment
at-will, under which both the Company and you remain free to end the employment relationship for any reason, at any time, with or without cause or notice. Although your job duties, title, compensation and benefits, as well as the Company’s
personnel policies and procedures, may change from time to time, the “at-will” nature of your employment may only be changed by a written agreement signed by you and an authorized representative of the Company that expressly states the
intention to modify the at-will nature of your employment. Similarly, nothing in this letter shall be construed as an agreement, either express or implied, to pay you any compensation or grant you any benefit beyond the end of your employment with
the Company. This letter supersedes all prior understandings, whether written or oral, relating to the terms of your employment. In addition, the Independent Contractor Agreement between you and the Company dated December 10, 2009 shall
terminate upon the effective date of your employment. 

  

	 	13.	Successors and Assigns. The terms of this letter shall be binding upon and inure to the benefit of you and the Company and their respective successors and assigns, including any corporation with which, or
into which, the Company may be merged or which may succeed to the Company’s assets or business; provided, however, that your obligations are personal and may not be assigned by you. You expressly consent to be bound by the
provisions hereof for the benefit of the Company or any subsidiary or affiliate thereof to whose employ you may be transferred without the necessity that this letter be re-signed at the time of such transfer. 

 

	 	14.	Governing Law. This letter shall be governed by and construed in accordance with the laws of the State of New York (without reference to the conflicts of laws provisions thereof). Any action, suit, or
other legal proceeding which is commenced to resolve any matter arising under or relating to any provision of this letter shall be commenced only in a court of the State of New York (or, if appropriate, a federal court located within New York), and
the Company and you each consents to the jurisdiction of such a court. The Company and you each hereby irrevocably waive any right to a trial by jury in any action, suit or other legal proceeding arising under or relating to any provision hereof.

  

	 	15.	Attorneys’ Fees. The Company shall pay your reasonable attorneys’ fees and expenses in connection with reviewing and negotiating the terms hereof in an amount not to exceed $7,500.

  

	 	16.	Position at SV Life Sciences. You shall be permitted to maintain the title of Venture Partner at SV Life Sciences, provided that (i) you are serving only in an advisory capacity for businesses that do
not compete with the Company as set forth in Section 1 hereof and (ii) you do not have any responsibility for operating or investing matters beyond your service on the boards of directors of other companies as permitted by Section 1
hereof. You may retain all amounts and benefits you receive as a result of the foregoing. 

  
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	 	17.	Code Section 409A. The intent of the parties is that payments and benefits under this letter comply with, or be exempt from, Internal Revenue Code Section 409A and the regulations and guidance
promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. With regard to any provision herein that provides
for reimbursement of costs and expenses or in-kind benefits, except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the
amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that this clause
(ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Code Section 105(a) solely because such expenses are subject to a limit related to the period the arrangement is in effect, and (iii) such
payments shall be made on or before the last day of your taxable year following the taxable year in which the expense occurred, provided that any tax gross-ups may be reimbursed by the end of the calendar year following the calendar year in which
such taxes are remitted to the taxing authorities. For purposes of Code Section 409A, your right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments.
In no event may you, directly or indirectly, designate the calendar year of any payment to be made under this Agreement that is considered nonqualified deferred compensation. Termination of employment as used herein shall mean separation from
service within the meaning of Code Section 409A. In the event at the time of any separation from service you are a “specified employee” within the meaning of Code Section 409A, any deferred compensation subject to Code
Section 409A payable as a result of such termination shall not be paid prior to the earlier of six (6) months after such termination and your death and shall be paid immediately thereafter. 

*        *        * 

  
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 If this letter correctly sets forth the terms under which you will be employed by the Company, please sign
the enclosed duplicate of this letter in the space provided below and return it to me, along with a signed copy of the Non-Competition Agreement. The terms of employment set forth herein shall become binding upon you and the Company upon approval by
the Board and your execution of this letter; provided, however, that if you do not accept this offer by 5:00 p.m. on Friday, April 26, 2013, the offer will be deemed withdrawn. 

 

			
	Sincerely,
		
	By:	 	 /s/ Nicholas Galakatos

		 	Nicholas Galakatos
		 	Chairman, Compensation Committee
		 	Ophthotech Corporation

 The foregoing correctly sets forth the terms of my at-will employment with Ophthotech Corporation. I am not relying on
any representations other than those set forth above. 
  

							
	 /s/ David R. Guyer
	 		 		 	 4/16/2013

	David Guyer	 		 		 	Date

  
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 SEPARATION AGREEMENT AND RELEASE OF CLAIMS 

Ophthotech Corporation, a Delaware corporation (the “Company”), and David Guyer (the “Employee”) (together,
the “Parties”), entered into a letter agreement dated April 26, 2013 (the “Offer Letter”). Any capitalized terms not defined herein shall have the meanings ascribed to them in the Offer Letter. This is the
release by Employee of all claims against the Releasees (as defined below) arising out of the Employee’s employment with or separation from the Company (the “Release”). The consideration for the Employee’s agreement to
this Release consists of the severance payments set forth in Section 6 of the Offer Letter, which are conditioned on, among other things, termination of the Employee’s employment by the Company without Cause or by the Employee for Good
Reason and effectiveness of this Release based on the Employee’s timely execution and nonrevocation hereof. 

1.    Tender of Release.  This Release is automatically tendered to the Employee upon the termination of
the Employee’s employment by the Company without Cause or by the Employee with Good Reason. 
 2.    Release of
Claims.  The Employee voluntarily, fully, forever, irrevocably and unconditionally releases and discharges the Company, its affiliates, subsidiaries and parent companies and each of their predecessors, successors, assigns, and their
current and former members, partners, directors, managers, officers, employees, representatives, attorneys, agents, and all persons acting by, through, under or in concert with any of the foregoing (any and all of whom or which are hereinafter
referred to as the “Releasees”), from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and
expenses (including attorney’s fees and costs actually incurred), of any nature whatsoever, known or unknown that the Employee now has, owns or holds, or claims to have, own, or hold, or that he at any time had, owned, or held, or claimed to
have had, owned, or held against any Releasee arising out of the Employee’s employment with or separation from the Company (collectively, “Claims”). This release of Claims includes, without implication of limitation, the
release of all Claims: 
  

	 	•	 	of breach of contract; 

  

	 	•	 	of retaliation or discrimination under federal, state or local law (including, without limitation, Claims of age discrimination or retaliation under the Age Discrimination in Employment Act, Claims of disability
discrimination or retaliation under the Americans with Disabilities Act, Claims of discrimination or retaliation under Title VII of the Civil Rights Act of 1964 and Claims of discrimination or retaliation under state law); 

 

	 	•	 	under any other federal or state statute, to the fullest extent that Claims may be released; 

  

	 	•	 	of defamation or other torts; 

  

	 	•	 	of violation of public policy; 

  

	 	•	 	for wages, salary, bonuses, vacation pay or any other compensation or benefits; and 

  

	 	•	 	for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorney’s fees. 

Notwithstanding anything to the contrary contained herein, this Release does not apply to or affect (i) the Employee’s right to receive the
severance payments set forth in Section 6 of the Offer Letter, (ii) the Employee’s ownership of, and the Employee’s rights by virtue of his ownership of, any capital stock or other securities of the Company or (iii) the
Indemnification Agreement between the Company and the Employee dated December 11, 2009, any other rights of indemnification or exculpation of which the Employee is the beneficiary under the corporate charter, bylaws or other charter or
organizational instruments or benefit or equity plans of the Company or any other Releasee or at law and rights of coverage to which the Employee may be entitled under any director and officer liability insurance policy of the Company or any other
Releasee. 

 4.    Ongoing Obligations of the Employee; Enforcement
Rights.  The Employee reaffirms his ongoing obligations as well as the Company’s enforcement rights provided for in the Invention, Non-Disclosure, Non-Competition and Non-Solicitation Agreement between the Company and the Employee
dated April 26, 2013. 
 5.    No Assignment; Representation on Action.  The Employee represents
that he has not assigned to any other person or entity any Claims against any Releasee. The Employee further represents that he has not filed or reported any Claims against any Releasee with any state, federal or local agency or court. 

6.    Right to Consider and Revoke Release.  The Employee acknowledges that he has been given the
opportunity to consider this Release for a period ending twenty one (21) days after the tender of the Release. In the event the Employee executed this Release within less than twenty one (21) days after the tender of the Release, he
acknowledges that such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the twenty one (21) day period. To accept this Release, the Employee shall deliver a signed Release to the Chairman
of the Compensation Committee of the Board (the “Chair”) within such twenty one (21) day period. For a period of seven (7) days from the date when the Employee executes this Release (the “Revocation
Period”), he shall retain the right to revoke this Release by written notice that is received by the Chair on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the twenty one
(21) day period as set forth above and if it is not revoked pursuant to the preceding sentence. If those conditions are satisfied, this Release shall become effective and enforceable on the date immediately following the last day of the
Revocation Period. 
 7.    Other Terms. 

(a)    Legal Representation; Review of Release.    The Employee acknowledges that he has been
advised to discuss all aspects of this Release with his attorney, that he has carefully read and fully understands all of the provisions of this Release and that he is voluntarily entering into this Release. 

(b)    Binding Nature of Release.  This Release shall be binding upon the Employee and upon his heirs,
administrators, representatives and executors. 
 (c)    Modification of Release; Waiver.  This Release
may be amended, only upon a written agreement executed by the Employee and the Company. 

(d)    Severability.  In the event that at any future time it is determined by an arbitrator or court of
competent jurisdiction that any covenant, clause, provision or term of this Release is illegal, invalid or unenforceable, the remaining provisions and terms of this Release shall not be affected thereby and the illegal, invalid or unenforceable term
or provision shall be severed from the remainder of this Release. In the event of such severance, the remaining covenants shall be binding and enforceable. 

(e)    Governing Law and Interpretation.  This Release shall be deemed to be made and entered into in the
State of New York and shall in all respects be interpreted, enforced and governed under the laws of the State of New York, without giving effect to the conflict of laws provisions of New York law that would require the application of law of any
other jurisdiction. The language of all parts of this Release shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against either of the Parties. 

  
 2 

 (f)    Entire Agreement; Absence of Reliance.  The Employee
acknowledges that he is not relying on any promises or representations by the Company or its agents, representatives or attorneys of either of them regarding any subject matter addressed in this Release. 

So agreed by the Employee: 
  

					
	 David Guyer
	 		 	Date

  
 3EX-10.15

 Exhibit 10.15 

EXECUTION COPY 

SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This Second Amended and Restated Employment Agreement (the “Agreement”) is made and entered into this August 27th, 2013 (the “Effective Date”), by and between Ophthotech Corporation (“Company”), and Samir Patel, M.D. (“Executive”). 

WHEREAS, Company wishes to continue to employ Executive as its President pursuant to the terms and conditions set forth herein; 

WHEREAS, Company and Executive are party to an Amended and Restated Employment Agreement dated May 28, 2013 (the “Existing
Agreement”) and desire to amend and restate the Existing Agreement in its entirety; 
 WHEREAS, Executive possesses the
necessary skills to fulfill this position and has agreed to accept such employment on the terms and conditions set forth in this Agreement; and 

WHEREAS, Executive and Company desire to enter into a formal agreement to assure the harmonious performance of the affairs of Company.

 NOW, THEREFORE, in consideration of the mutual promises, terms, provisions, and conditions contained herein, the parties agree as
follows: 
 1. Duties. Subject to the terms and conditions of this Agreement, Company will continue to employ Executive as its
President, reporting directly to the Company’s Chief Executive Officer and subject further to the general oversight of the Company’s Board of Directors (the “Board”). Executive’s primary focus and duties will relate to the
Company’s clinical operations, clinical strategy and regulatory affairs. Executive shall perform such other duties and have such powers customarily associated with Executive’s position in companies of similar type, size and structure as
the Company as determined from time to time by the Company’s Chief Executive Officer or the Board. Executive accepts such continued employment upon the terms and conditions set forth herein. During Executive’s employment, Executive will
devote substantially all of his business time to the business and affairs of Company, provided that nothing contained in this Section will prevent or limit Executive’s right to manage his personal investments, including, without limitation the
right to make passive investments in the securities of: (a) any entity which Executive does not control, directly or indirectly, and which does not compete with Company, or (b) any publicly held entity so long as
Executive’s aggregate direct and indirect interest does not exceed two percent (2%) of the issued and outstanding securities of any class of securities of such publicly held entity. Executive may participate in civic and charitable
activities so long as such activities do not interfere with Executive’s performance of his duties hereunder. The parties acknowledge that, as of the Effective Date, Executive will remain as a director of the Company and as Vice Chairman of the
Board, in each case to serve in accordance with the Company’s Amended and Restated By-laws, as amended and/or restated from time to time. 

2. Term of Employment. 

(a) Term. Subject to the terms hereof, Executive’s employment will continue until the first anniversary of the Effective
Date (the “Initial Term”), provided that on the first and each subsequent anniversary of the Effective Date, the term of Executive’s employment hereunder will be automatically extended for an additional period of one year (each a
“Subsequent Term”) unless either 

 
Executive or Company has given written notice to the other that such automatic extension will not occur (a “Non-Renewal Notice”), which notice is given not less than ninety
(90) days prior to the relevant anniversary of the Effective Date. The Initial Term and any Subsequent Term are referred to herein collectively as the “Term.” 

(b) Termination. Notwithstanding anything else contained in this Agreement, Executive’s employment hereunder will terminate
upon the earliest to occur of the following: 
 (i) Expiration of the Term. If a Non-Renewal Notice has been
given pursuant to Section 2(a), immediately upon expiration of the Term; 
 (ii) Death. Immediately upon
Executive’s death; 
 (iii) Termination by Company. 

(A) If because of Executive’s Disability (as defined below), written notice by Company to Executive that
Executive’s employment is being terminated as a result of Executive’s Disability, which termination shall be effective on the date of such notice; 

(B) If for Cause (as defined below), written notice by Company to Executive that Executive’s employment is being
terminated for Cause, which termination shall be effective on the date of such notice or such later date as specified in such notice; or 

(C) If by Company for reasons other than under Sections 2(b)(iii)(A) or (B), written notice by Company to Executive that
Executive’s employment is being terminated, which termination shall be effective on such date specified in the written notice. 

(iv) Termination by Executive. 

(A) If for Good Reason (as defined below), written notice by Executive to Company that Executive is terminating
Executive’s employment for Good Reason and that sets forth the factual basis supporting the alleged Good Reason, which termination shall be effective as set forth in the notice described in Section 2(e); or 

(B) If without Good Reason, written notice by Executive to Company that Executive is terminating Executive’s
employment, which termination shall be effective ninety (90) days after the date of such notice, provided that Company may, in its sole discretion, either direct Executive not to come into the office during this 90-day period or pay Executive
in lieu of 90 days’ notice an amount equal to the Base Salary that would otherwise be payable to him for such period, in which case Executive’s employment shall terminate on the date of such payment. 

For the avoidance of doubt and notwithstanding anything in this Section 2(b), Company may at any point terminate Executive’s
employment for Cause prior to the effective date of any other termination contemplated hereunder. 

  
 2 

 (c) Definition of “Disability”. For purposes of this Agreement,
“Disability” shall mean Executive’s incapacity or inability to further perform Executive’s duties and responsibilities as contemplated herein for one hundred twenty (120) days or more within any one (1) year period
(cumulative or consecutive), because Executive’s physical or mental health has become so impaired as to make it impossible or impractical for Executive to perform the duties and responsibilities contemplated hereunder. Determination of
Executive’s physical or mental health will be determined by the Board after consultation with a medical expert appointed by mutual agreement between Company and Executive, and Executive hereby consents to such examination and consultation
regarding his health and ability to perform as aforesaid. 
 (d) Definition of “Cause”. For purposes of this
Agreement, “Cause” shall mean a good faith finding by Company that: (i) Executive failed, refused or neglected to perform and discharge diligently or effectively his material duties and responsibilities under this Agreement
(including but not limited to those required by the Board from time to time); (ii) Executive was convicted of, or pled nolo contendere to, a felony or other crime; (iii) Executive intentionally and materially breached
his fiduciary duty or loyalty to Company, or acted fraudulently or with material dishonesty in discharging his duties to Company; (iv) Executive undertook an intentional act or omission that materially harmed or was reasonably likely to
materially harm the business, interests, or reputation of Company; (v) Executive materially breached any provision of this Agreement; or (vi) Executive materially breached any material provision of any Company code of conduct
or material ethics policy; provided that with respect to subsections (i), (v) and (vi), to constitute “Cause,” the Executive must have failed to cure the circumstances constituting “Cause” within thirty (30) days of
written notice of such circumstances from the Company. 
 (e) Definition of “Good Reason”. For the purposes of this
Agreement, “Good Reason” shall mean, without Executive’s written consent: (i) any change in Executive’s position, title or reporting relationship with Company that diminishes in any material respect the title,
authority, duties or responsibilities of Executive; provided, however, that (A) a change in Executive’s title or reporting relationship solely due to Company becoming a division, subsidiary or other similar part of a larger
organization following a Change of Control (as defined in the Restricted Stock Agreement dated August 9, 2007 between Company and the Executive) shall not by itself constitute Good Reason and (B) Executive’s ceasing to serve as
Vice Chairman of the Board or as a director of the Company for any reason shall not by itself constitute Good Reason; (ii) any material reduction in Executive’s base compensation; (iii) a material change in the
geographic location at which services are to be performed by Executive; provided, however, that a relocation of Executive’s place of work such that the distance from Executive’s primary residence to his place of work is increased by more
than 50 miles shall be considered a material change in geographic location; (iv) a material breach of any provision of this Agreement by Company or any successor or assign; or (v) assignment of duties inconsistent with the
Executive’s duties as set forth herein. Notwithstanding the foregoing, “Good Reason” shall not be deemed to have occurred unless: (A) Executive provides Company with written notice that he intends to terminate his
employment hereunder for one of the grounds set forth in subsections (i), (ii), (iii), (iv) or (v) within sixty (60) days of such reason(s) occurring, (B) if such ground is capable of being cured, Company has failed to
cure such ground within a period of thirty (30) days from the date of such written notice, and (C) Executive terminates his employment within thirty (30) days of the expiration of the Company’s cure period. For purposes of
clarification, the above-listed conditions shall apply separately to each occurrence of Good Reason and failure to adhere to such conditions in the event of Good Reason shall not disqualify Executive from asserting Good Reason for any subsequent
occurrence of Good Reason. 

  
 3 

 3. Compensation. 

(a) Base Salary. Company will pay Executive during the Term of this Agreement an annualized base salary in the gross amount of
four hundred forty eight thousand dollars ($448,000) (the “Base Salary”), payable in equal monthly installments in accordance with Company’s usual payroll practices. Company will deduct from each such installment any amounts required
to be deducted or withheld under applicable law or under any benefit plan in which Executive participates. 
 (b) Equity. For
so long as Executive is employed hereunder, Executive shall be eligible to participate in all broad-based equity grants made to employees after the Effective Date, with the amounts, if any, and other terms thereof to be determined by the Board in
its sole discretion based on performance and other criteria determined by the Board in its sole discretion. 
 (c) Annual
Bonus. Following the end of each calendar year during the Term (the “Bonus Year”), Executive shall be eligible to receive a discretionary annual performance and retention bonus (the “Annual Bonus”) of (i) for any Bonus
Year ending prior to the completion of an IPO (as defined below), up to thirty percent (30%) of Executive’s then-current Base Salary and (ii) for any Bonus Year during which an IPO is closed or following closing of an IPO, up to
thirty-seven and a half percent (37.5%) of the Executive’s then-current Base Salary, in either case, based on his achievement and Company’s achievement of performance objectives to be developed each year by the Board, as determined by
the Board in its sole discretion. The amount, if any, of the Annual Bonus shall be determined by the Board in its sole discretion, and shall be paid to Executive at the same time as bonuses for other senior executives are paid for such Bonus Year in
accordance with Company’s usual payroll practices. Executive must be employed by Company at the time that the Annual Bonus is paid in order to be eligible for, and to be deemed as having earned, such Annual Bonus.  

(d) Fringe Benefits. Executive shall be entitled to participate in all benefit/welfare plans and fringe benefits provided to
similarly situated executives, provided that he is eligible under the plan documents governing those programs. Executive understands that, except when prohibited by applicable law, Company’s benefit plans and fringe benefits may be amended by
Company from time to time in its sole discretion. 
 (e) Vacation. Executive may take up to twenty (20) days of paid
vacation per calendar year, to be scheduled to minimize disruption to Company’s operations. Vacation shall accrue ratably at the conclusion of each month of Executive’s employment hereunder, and may not be carried over from one year to the
next. 
 (f) Withholdings. All compensation payable to Executive shall be subject to applicable taxes and withholdings. 

4. Reimbursement of Expenses. Company will reimburse Executive for all ordinary and reasonable out-of-pocket business expenses
incurred by Executive in furtherance of Company’s business in accordance with Company’s policies with respect thereto as in effect from time to time. Executive must submit any request for reimbursement no later than ninety (90) days
following the date that such business expense is incurred. Any reimbursement in one calendar year shall not affect the amount that may be reimbursed in any other calendar year and a reimbursement (or right thereto) may not be exchanged or liquidated
for another benefit or payment. Any business expense reimbursements subject to Section 409A of the Code and the rules and regulations thereunder (“Section 409A”) shall be made no later than the end of the calendar year following the
calendar year in which such business expense is incurred by Executive. 

  
 4 

 5. Compensation Upon Termination. 

(a) Definition of Accrued Obligations. For purposes of this Agreement, “Accrued Obligations” means: (i) the
portion of Executive’s Base Salary that has accrued prior to any termination of Executive’s employment with Company and has not yet been paid; and (ii) the amount of any expenses properly incurred by Executive on behalf of
Company prior to any such termination and not yet reimbursed. Executive’s entitlement to any other compensation or benefit under any plan of Company shall be governed by and determined in accordance with the terms of such plans, except
as otherwise specified in this Agreement. 
 (b) Termination for Cause, by Executive Without Good Reason, as a Result of
Executive’s Disability or Death, or as a Result of the Expiration of the Term. If Executive’s employment hereunder is terminated by Company for Cause, by Executive without Good Reason, as a result of Executive’s Disability or
death, or as the result of the expiration of the Term, Company will pay the Accrued Obligations to Executive by Company’s regular payday immediately following the effective date of such termination, and shall have no further obligations to
Executive. 
 (c) Termination Without Cause or For Good Reason. If Executive’s employment hereunder is terminated by
Company without Cause or by Executive for Good Reason (it being understood that a termination of Executive’s employment on or prior to the applicable anniversary of the Effective Time after the Company gives Executive a Non-Renewal Notice shall
be treated as a termination by the Company without Cause for purposes of this Agreement), then: (i) Company will pay the Accrued Obligations to Executive by Company’s regular payday immediately following the effective date of such
termination; (ii) subject to the conditions of Section 5(d), Company will pay Executive an amount equal to twelve (12) months of Executive’s then-current Base Salary, less standard employment-related withholdings and
deductions, with such payments to be made in twelve equal monthly installments in accordance with Company’s usual payroll practices and beginning on the first regular pay date following the effective date of the separation agreement set forth
in Section 5(d) below; provided that if the 60th day following the Executive’s effective date of termination of employment falls in the calendar year after the calendar year of the date
of his termination of employment, such payments shall begin on the first regular pay date on or after January 1 of such subsequent calendar year; and (iii) the right to exercise any vested options held by Executive at the time of
termination shall extend until (A) three months after such termination, if such termination occurs on or after the date that is six months following the closing of the initial underwritten public offering of the Company’s common stock
pursuant to a registration statement under the Securities Act of 1933 (an “IPO”), or (B) if such termination occurs when the Company is privately-held or on a date within six months following the closing of an IPO, the earlier of
(x) two years after such termination and (y) nine months after the closing of the IPO (but in no event shall the exercise period extend beyond the maximum term of an option). 

(d) Release of Claims. Company shall not be obligated to pay Executive any of the compensation set forth in Section 5(c)
(other than the Accrued Obligations) unless Executive has timely executed (and not revoked) the separation agreement attached hereto as Exhibit A. Such separation agreement must be executed and become binding and enforceable within
sixty (60) calendar days after the effective date of Executive’s termination of employment. 

  
 5 

 (e) No Other Payments or Benefits Owing. The payments and benefits set forth in
this Section 5 shall be the sole amounts owing to Executive upon termination of Executive’s employment for any reason. Executive shall not be eligible for any other payments or other forms of compensation or benefits. The payments and
benefits set forth in this Section shall be the sole remedy, if any, available to Executive in the event that he brings any claim against Company relating to the termination of his employment under this Agreement. 

6. Prohibited Competition And Solicitation.  

(a) Acknowledgements; Definition Of Competition. 

(i) Executive acknowledges the competitive and proprietary aspects of the business of Company. Executive acknowledges
that Company will furnish, disclose and make available to Executive Proprietary Information (as defined in the Invention and Non-Disclosure Agreement referenced in Section 7 below) related to Company’s business and that Company may provide
Executive with unique and specialized knowledge and training. Executive also acknowledges that such Proprietary Information and specialized knowledge and training have been developed and will be developed by Company through the expenditure of
substantial time, effort and money and that all such Proprietary Information, knowledge and training could be used by Executive to compete with Company. 

(ii) As used herein, a business will be deemed “Competitive” with Company if it performs research, development
or commercialization of pharmaceutical and diagnostic products for ocular diseases directed at the pdgf molecule and/or its receptor, the C5 molecule and/or its receptor, or the alpha 5/beta 1 integrin and/or its receptor, and all molecules with a
direct mechanistic link to the above. 
 (b) Covenant Not to Compete or Solicit. During Executive’s employment with the
Company and until the date that is one (1) year after the termination of Executive’s employment with Company for any reason, Executive shall not, directly or indirectly, whether on behalf of Executive or another person, entity or third
party, anywhere in the world, engage in the following conduct, without the prior written consent of Company: 
 (i) As
officer, director, principal, agent, stockholder, employee, consultant, representative or in any other capacity, own, manage, operate or control, or be employed by, provide services to, or engage in or have a financial interest in any business which
is Competitive with Company (other than as specifically permitted in Section 1); 
 (ii) Solicit, divert or
appropriate or attempt to solicit, divert or appropriate, the business or patronage of any customers, business partners, or patrons of Company, or any prospective customers, business partners, or patrons with respect to which Company has made a
sales presentation (or similar offering of services or business) within the one (1) year period preceding the date of Executive’s termination of employment with Company; 

(iii) Solicit, entice or persuade or attempt to solicit, entice or persuade any employees of or consultants to Company
or any present or future parent, subsidiary or affiliate of Company to terminate their employment or other engagement with Company or any such parent, subsidiary or affiliate for any reason; or 

  
 6 

 (iv) Interfere with, or attempt to interfere with, the relations between
Company and any customer, vendor or supplier to Company. 
 (c) Reasonableness of Restrictions. Executive acknowledges that:
(i) the types of employment which are prohibited by this Section 6 are narrow and reasonable in relation to the skills which represent Executive’s principal salable asset both to Company and other prospective employers; and
(ii) the temporal and geographical scope of Section 6 is reasonable, legitimate and fair to Executive in light of Company’s need to market its services and sell its products in order to have a sufficient customer base to make
Company’s business profitable and in light of the limited restrictions on the type of employment prohibited herein compared to the types of employment for which Executive is qualified to earn his livelihood. 

7. Confidentiality; Ownership of Ideas, Copyrights and Patents. Executive acknowledges and reaffirms the obligations set forth
in the Invention and Non-Disclosure Agreement he executed on November 30, 2009, which remains in full force and effect. 
 8.
Specific Acknowledgements Regarding Sections 6 And 7. 
 (a) Survival. Executive’s acknowledgments and
agreements set forth in Sections 6 and 7 shall survive the termination of Executive’s employment with Company for any reason. 
 (b)
Severability. The parties intend Sections 6 and 7 of this Agreement to be enforced as written. However, if any portion or provision of such sections shall to any extent be declared illegal or unenforceable by a duly authorized court
having jurisdiction, then the remainder of such sections, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each remaining
portion and provision of such sections shall be valid and enforceable to the fullest extent permitted by law. 
 (c) Modification
And Blue Pencil. The parties agree and intend that the covenants contained in Sections 6 and 7 of this Agreement shall be deemed to be a series of separate covenants and agreements, and if any provision of such sections shall be adjudicated to
be invalid or unenforceable, such provision, without any action on the part of the parties hereto, shall be deemed amended to delete (i.e., “blue pencil”) or modify the portion adjudicated to be invalid or unenforceable, to the
extent necessary to cause the provision as amended to be valid and enforceable. 
 (d) Irreparable Harm. Executive expressly
acknowledges that any breach or threatened breach of any of the terms and/or conditions of Sections 6 or 7 of this Agreement will result in substantial, continuing and irreparable injury to Company. Therefore, Executive hereby agrees that, in
addition to any other remedy that may be available to Company, Company shall be entitled to injunctive or other equitable relief by a court of appropriate jurisdiction in the event of any breach or threatened breach of the terms of Section 6 or
7. Executive hereby waives the adequacy of a remedy at law as a defense to such relief. 
 (e) Restrictive Period. If
Executive violates any of the provisions set forth in Section 6, Executive shall continue to be bound by the restrictions set forth in such Section until a period equal to the period of restriction has expired without any violation. 

  
 7 

 9. Property and Records. Upon the termination of Executive’s employment
hereunder for any reason or for no reason, or if Company otherwise requests, Executive will: (a) return to Company all tangible Proprietary Information and copies thereof (regardless how such Proprietary Information or copies are
maintained), and (b) deliver to Company any property of Company which may be in Executive’s possession, including, but not limited to, blackberry-type devices, laptops, cell phones, products, materials, memoranda, notes, records,
reports or other documents or photocopies of the same. 
 10. Code Section 409A. 

(a) If any of the benefits set forth in this Agreement are “deferred compensation” within the meaning of Section 409A,
any termination of employment triggering payment of such benefits must constitute a “separation from service” under Section 409A before a distribution of such benefits can commence. It is intended that each installment of the payments
and benefits provided under this Agreement shall be treated as a separate “payment” for purposes of Section 409A and the guidance issued thereunder. Neither Company nor Executive shall have the right to accelerate or defer the
delivery of any such payments or benefits except to the extent specifically permitted or required by Section 409A. 
 (b) If any
amount is to be paid to Executive pursuant to this Agreement as a result of Executive’s termination of employment and if Executive is a “Specified Employee” (as defined under Section 409A) as of the date of Executive’s
termination of employment hereunder, then, 
 (i) each installment of the payments and benefits due under this
Agreement that, in accordance with the dates and terms set forth therein, will in all circumstances, regardless of when the separation from service occurs, be paid within the period of time permitted under Treasury Regulation
Section 1.409A-1(b)(4) shall be treated as a short-term deferral within the meaning of such Section to the maximum extent possible; and 

(ii) each installment of the payments and benefits due this Agreement that is not described in Section 10(b)(i)
above and that would, absent this subsection, be paid within the six-month period following Executive’s “separation from service” from Company shall not be paid until the date that is six months and one day after such separation from
service (or, if earlier, Executive’s death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day following Executive’s
separation from service and any subsequent installments, if any, being paid in accordance with the dates and terms set forth in this Agreement; provided, however, that the preceding provisions of this sentence shall not apply to any installment of
payments and benefits if and to the maximum extent that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii)
(relating to separation pay upon an involuntary separation from service). Any installments that qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of Executive’s second
taxable year following his taxable year in which the separation from service occurs. 
 (iii) Any deferred
compensation payments delayed in accordance with the terms of this Section 10(b)(ii) shall be paid in a lump sum when paid and shall be adjusted for earnings in accordance with the applicable short term rate under Section 1274(d) of the
Code. 

  
 8 

 (iv) The determination of whether and when Executive’s separation
from service from Company has occurred shall be made and in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this Section 10(b)(iv)., “Company”
shall include all persons with whom Company would be considered a single employer under Section 414(b) and 414(c) of the Code. 

(c) Notwithstanding any other provision of this Agreement to the contrary, this Agreement shall be interpreted and at all times
administered in a manner that avoids the inclusion of compensation in income under Section 409A, or the payment of increased taxes, excise taxes or other penalties under Section 409A. For purposes of clarification, this section shall not
require any forfeiture of benefits on the part of Executive. 
 (d) The parties intend this Agreement to be in compliance with
Section 409A. Executive acknowledges and agrees that Company does not guarantee the tax treatment or tax consequences associated with any payment or benefit arising under this Agreement, including but not limited to consequences related to
Section 409A. 
 11. General. 

(a) Notices. Except as otherwise specifically provided herein, any notice required or permitted by this Agreement shall be in
writing and shall be delivered as follows with notice deemed given as indicated: (i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification of receipt; (iii) by
telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv) by certified or registered mail, return receipt requested, upon verification of receipt. Notices to Executive shall be sent to the last
known address in Company’s records or such other address as Executive may specify in writing. Notices to Company shall be sent to Ophthotech Corporation, One Penn Plaza, 35th Floor, New York,
NY 10119, Attention: Board of Directors, or to such other Company representative as the Board may specify in writing. 
 (b)
Entire Agreement. This Agreement, together with the other agreements specifically referred to herein, embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all
prior oral or written agreements and understandings relating to the subject matter hereof, including without limitation the Existing Agreement (which from and after the Effective Date shall be superseded by this Agreement, so that from and after the
Effective Date the Existing Agreement shall have no further force or effect; provided, however, that, the parties acknowledge and agree that the change in the Executive’s position and title from President and Chief Executive Officer to
President under the Existing Agreement and this Agreement (and the corresponding change in reporting relationship) shall in no event, in of itself, be Good Reason for Executive to terminate his employment with the Company. No statement,
representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement will affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement. 

(c) Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written
agreement executed by the parties hereto. 
 (d) Waivers and Consents. The terms and provisions of this Agreement may be
waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent will be deemed to be

  
 9 

 
or will constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent will be effective only in the specific
instance and for the purpose for which it was given, and will not constitute a continuing waiver or consent. 
 (e)
Assignment. Company may assign its rights and obligations hereunder to any person or entity that succeeds to all or substantially all of Company’s business or that aspect of Company’s business in which Executive is principally
involved. Executive may not assign Executive’s rights and obligations under this Agreement without the prior written consent of Company. 

(f) Governing Law/Jury Waiver. This Agreement and the rights and obligations of the parties hereunder shall be construed in
accordance with and governed by the laws of New York, without giving effect to the conflict of law principles thereof. Both parties agree that any action, demand, claim or counterclaim in connection with any aspect of Executive’s employment or
termination and/or the terms of this Agreement shall be resolved in a court of competent jurisdiction in New York by a judge alone, and both parties waive and forever renounce their rights to a trial before a civil jury. 

(g) Headings and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of
reference only and will in no way modify or affect the meaning or construction of any of the terms or provisions hereof. 
 (h)
Counterparts. This Agreement may be executed in two or more counterparts, and by different parties hereto on separate counterparts, each of which will be deemed an original, but all of which together will constitute one and the same
instrument. For all purposes a signature by fax shall be treated as an original. 
 (i) Acknowledgment. Executive states and
represents that he has had an opportunity to fully discuss and review the terms of this Agreement with an attorney. Executive further states and represents that he has carefully read this Agreement, understands the contents herein, freely and
voluntarily assents to all of the terms and conditions hereof, and signs his name of his own free act. 

*        *        * 

  
 10 

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

							
	SAMIR PATEL, M.D.	 		 	OPHTHOTECH CORPORATION
				
	 /s/ Samir Patel
	 		 	By:	 	 /s/ David R. Guyer

	Signature	 		 	Name:	 	David R. Guyer
		 		 	Title:	 	Chief Executive Officer

  
 11 

 EXHIBIT A 

 SEPARATION AGREEMENT AND RELEASE OF CLAIMS 

Ophthotech Corporation, a Delaware corporation (the “Company”), and Samir Patel, M.D. (the “Employee”)
(together, the “Parties”), entered into a Second Amended and Restated Employment Agreement, dated August     , 2013 (the “Employment Agreement”). Any capitalized terms not defined herein shall
have the meanings ascribed to them in the Employment Agreement. This is the release by Employee of all claims against the Releasees (as defined below) arising out of the Employee’s employment with or separation from the Company (the
“Release”). The consideration for the Employee’s agreement to this Release consists of the severance payments and benefits set forth in Section 5(c) of the Employment Agreement, which are conditioned on, among other
things, termination of the Employee’s employment by the Company without Cause or by the Employee for Good Reason and effectiveness of this Release based on the Employee’s timely execution and non-revocation hereof. 

1. Tender of Release. This Release is automatically tendered to the Employee upon the termination of the Employee’s employment by
the Company without Cause or by the Employee with Good Reason. 
 2. Release of Claims. The Employee voluntarily, fully, forever,
irrevocably and unconditionally releases and discharges the Company, its affiliates, subsidiaries and parent companies and each of their predecessors, successors, assigns, and their current and former members, partners, directors, managers,
officers, employees, representatives, attorneys, agents, and all persons acting by, through, under or in concert with any of the foregoing (any and all of whom or which are hereinafter referred to as the “Releasees”), from any and
all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorney’s fees and costs actually
incurred), of any nature whatsoever, known or unknown that the Employee now has, owns or holds, or claims to have, own, or hold, or that he at any time had, owned, or held, or claimed to have had, owned, or held against any Releasee arising out of
the Employee’s employment with or separation from the Company (collectively, “Claims”). This release of Claims includes, without implication of limitation, the release of all Claims: 

 

	 	•	 	of breach of contract; 

  

	 	•	 	of retaliation or discrimination under federal, state or local law (including, without limitation, Claims of age discrimination or retaliation under the Age Discrimination in Employment Act, Claims of disability
discrimination or retaliation under the Americans with Disabilities Act, Claims of discrimination or retaliation under Title VII of the Civil Rights Act of 1964 and Claims of discrimination or retaliation under state law); 

 

	 	•	 	under any other federal or state statute, to the fullest extent that Claims may be released; 

  

	 	•	 	of defamation or other torts; 

  

	 	•	 	of violation of public policy; 

  

	 	•	 	for wages, salary, bonuses, vacation pay or any other compensation or benefits; and 

  

	 	•	 	for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorney’s fees. 

Notwithstanding anything to the contrary contained herein, this Release does not apply to or affect (i) the Employee’s right to receive the
severance payments set forth in Section 5(c) of the Employment Agreement, (ii) the Employee’s ownership of, and the Employee’s rights by virtue of his ownership of, any capital stock or other securities of the Company,
(iii) any rights of indemnification or exculpation of which the Employee is the beneficiary under any separate contractual indemnification agreement with the Company in connection with his service as a director or officer of the Company, the
corporate charter, 

 
bylaws or other charter or organizational instruments or benefit or equity plans of the Company or any other Releasee or at law and rights of coverage to which the Employee may be entitled under
any director and officer liability insurance policy of the Company or any other Releasee or (iv) for purposes of clarity, any Claim arising out of any matters or events occurring after the effective date of the Release. 

4. Ongoing Obligations of the Employee; Enforcement Rights . The Employee reaffirms his ongoing obligations as well as the
Company’s enforcement rights provided for in Sections 6, 7 and 8 of the Employment Agreement. 
 5. No Assignment; Representation on
Action. The Employee represents that he has not assigned to any other person or entity any Claims against any Releasee. The Employee further represents that he has not filed or reported any Claims against any Releasee with any state, federal or
local agency or court. 
 6. Right to Consider and Revoke Release. The Employee acknowledges that he has been given the opportunity
to consider this Release for a period ending twenty one (21) days after the tender of the Release. In the event the Employee executed this Release within less than twenty one (21) days after the tender of the Release, he acknowledges that
such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the twenty one (21) day period. To accept this Release, the Employee shall deliver a signed Release to the Chairman of the
Compensation Committee of the Board (the “Chair”) within such twenty one (21) day period. For a period of seven (7) days from the date when the Employee executes this Release (the
“Revocation Period”), he shall retain the right to revoke this Release by written notice that is received by the Chair on or before the last day of the Revocation Period. This Release shall take effect only if it is executed
within the twenty one (21) day period as set forth above and if it is not revoked pursuant to the preceding sentence. If those conditions are satisfied, this Release shall become effective and enforceable on the date immediately following the
last day of the Revocation Period. 
 7. Other Terms. 

(a) Legal Representation; Review of Release. The Employee acknowledges that he has been advised to discuss all aspects of this Release
with his attorney, that he has carefully read and fully understands all of the provisions of this Release and that he is voluntarily entering into this Release. 

(b) Binding Nature of Release. This Release shall be binding upon the Employee and upon his heirs, administrators, representatives and
executors. 
 (c) Modification of Release; Waiver. This Release may be amended, only upon a written agreement executed by the
Employee and the Company. 
 (d) Severability. In the event that at any future time it is determined by an arbitrator or court of
competent jurisdiction that any covenant, clause, provision or term of this Release is illegal, invalid or unenforceable, the remaining provisions and terms of this Release shall not be affected thereby and the illegal, invalid or unenforceable term
or provision shall be severed from the remainder of this Release. In the event of such severance, the remaining covenants shall be binding and enforceable. 

(e) Governing Law and Interpretation. This Release shall be deemed to be made and entered into in the State of New York and shall in
all respects be interpreted, enforced and governed under the laws of the State of New York, without giving effect to the conflict of laws provisions of 

  
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New York law that would require the application of law of any other jurisdiction. The language of all parts of this Release shall in all cases be construed as a whole, according to its fair
meaning, and not strictly for or against either of the Parties. 
 (f) Absence of Reliance. The Employee acknowledges that he is not
relying on any promises or representations by the Company or its agents, representatives or attorneys of either of them regarding any subject matter addressed in this Release. 

So agreed by the Employee: 
  

			
	  
	  	  

	Samir Patel	  	Date

  
 3

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