Document:

exv10w1

Exhibit 10.1

INDEMNIFICATION AGREEMENT

          THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is made and entered into as of                     ,
between Alimera Sciences, Inc. a Delaware corporation (the “Company”), and                     
(“Indemnitee”).

          WITNESSETH THAT:

          WHEREAS, highly competent persons have become more reluctant to serve corporations as
directors or in other capacities unless they are provided with adequate protection through
insurance or adequate indemnification against inordinate risks of claims and actions against them
arising out of their service to and activities on behalf of the corporation;

          WHEREAS, the Board of Directors of the Company (the “Board”) has determined that, in order to
attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis,
at its sole expense, liability insurance to protect persons serving the Company and its
subsidiaries from certain liabilities. Although the furnishing of such insurance has been a
customary and widespread practice among United States-based corporations and other business
enterprises, the Company believes that, given current market conditions and trends, such insurance
may be available to it in the future only at higher premiums and with more exclusions. At the same
time, directors, officers, and other persons in service to corporations or business enterprises are
being increasingly subjected to expensive and time-consuming litigation relating to, among other
things, matters that traditionally would have been brought only against the Company or business
enterprise itself. The Bylaws and Certificate of Incorporation of the Company contemplate
indemnification of the officers and directors of the Company. Indemnitee may also be entitled to
indemnification pursuant to the General Corporation Law of the State of Delaware (“DGCL”). The
Bylaws, Certificate of Incorporation and the DGCL expressly provide that the indemnification
provisions set forth therein are not exclusive, and thereby contemplate that contracts may be
entered into between the Company and members of the board of directors, officers and other persons
with respect to indemnification;

          WHEREAS, the uncertainties relating to such insurance and to indemnification have increased
the difficulty of attracting and retaining such persons;

          WHEREAS, the Board has determined that the increased difficulty in attracting and retaining
such persons is detrimental to the best interests of the Company’s stockholders and that the
Company should act to assure such persons that there will be increased certainty of such protection
in the future;

          WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate
itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent
permitted by applicable law so that they will serve or continue to serve the Company free from
undue concern that they will not be so indemnified;

          WHEREAS, this Agreement is a supplement to and in furtherance of the Bylaws and Certificate of
Incorporation of the Company and any resolutions adopted pursuant thereto,

 

 

and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of
Indemnitee thereunder;

          WHEREAS, Indemnitee does not regard the protection available under the Company’s Bylaws and
Certificate of Incorporation and insurance as adequate in the present circumstances, and may not be
willing to serve as an officer or director without adequate protection, and the Company desires
Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to
take on additional service for or on behalf of the Company on the condition that he be so
indemnified; and

          [WHEREAS, Indemnitee is a representative of or affiliated with                      (together with any
affiliated venture capital funds and the general partners, managing members or other control
persons and/or any affiliated management companies, the “VC Funds,” and each, individually, a “VC
Fund”), and has certain rights to indemnification and/or insurance provided by the VC Funds, which
Indemnitee and the VC Fund intend to be secondary to the primary obligation of the Company to
indemnify Indemnitee as provided herein, with the Company’s acknowledgement and agreement to the
foregoing being a material condition to Indemnitee’s willingness to serve on the Board.]
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          NOW, THEREFORE, in consideration of Indemnitee’s agreement to serve as a director from and
after the date hereof, the parties hereto agree as follows:

     1. Indemnity of Indemnitee. The Company hereby agrees to hold harmless and indemnify
Indemnitee to the fullest extent permitted by law, as such may be amended from time to time. In
furtherance of the foregoing indemnification, and without limiting the generality thereof:

          (a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee
shall be entitled to the rights of indemnification provided in this Section l(a) if, by
reason of his Corporate Status (as hereinafter defined), the Indemnitee is, or is threatened to be
made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding
by or in the right of the Company. Pursuant to this Section 1(a), Indemnitee shall be
indemnified against all Expenses (as hereinafter defined), judgments, penalties, fines and amounts
paid in settlement actually and reasonably incurred by him, or on his behalf, in connection with
such Proceeding or any claim, issue or matter therein, if the Indemnitee acted in good faith and in
a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the
Company, and with respect to any criminal Proceeding, had no reasonable cause to believe the
Indemnitee’s conduct was unlawful.

          (b) Proceedings by or in the Right of the Company. Indemnitee shall be entitled to
the rights of indemnification provided in this Section 1(b) if, by reason of his Corporate
Status, the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding
brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall
be indemnified against all Expenses actually and reasonably incurred by the Indemnitee, or on the
Indemnitee’s behalf, in connection with such Proceeding if the Indemnitee acted in good

 

			
	1	 	Bracketed provisions apply to the form of
indemnification agreement entered into with certain of the Company’s directors.

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faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company; provided, however, if applicable law so provides, no indemnification
against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as
to which Indemnitee shall have been adjudged to be liable to the Company unless and to the extent
that the Court of Chancery of the State of Delaware shall determine that such indemnification may
be made.

          (c) Indemnification for Expenses of a Party Who is Wholly or Partly Successful.
Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of his Corporate Status, a party to and is successful, on the merits or otherwise, in any
Proceeding, he shall be indemnified to the maximum extent permitted by law, as such may be amended
from time to time, against all Expenses actually and reasonably incurred by him or on his behalf in
connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful,
on the merits or otherwise, as to one or more but less than all claims, issues or matters in such
Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably
incurred by him or on his behalf in connection with each successfully resolved claim, issue or
matter. For purposes of this Section and without limitation, the termination of any claim, issue
or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a
successful result as to such claim, issue or matter.

     2. Additional Indemnity. In addition to, and without regard to any limitations on,
the indemnification provided for in Section 1 of this Agreement, the Company shall and
hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties,
fines and amounts paid in settlement actually and reasonably incurred by him or on his behalf if,
by reason of his Corporate Status, he is, or is threatened to be made, a party to or participant in
any Proceeding (including a Proceeding by or in the right of the Company), including, without
limitation, all liability arising out of the negligence or active or passive wrongdoing of
Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this
Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee that
is finally determined (under the procedures, and subject to the presumptions, set forth in
Sections 6 and 7 hereof) to be unlawful.

     3. Contribution.

          (a) Whether or not the indemnification provided in Sections 1 and 2 hereof is
available, in respect of any threatened, pending or completed action, suit or proceeding in which
the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or
settlement of such action, suit or proceeding without requiring Indemnitee to contribute to such
payment and the Company hereby waives and relinquishes any right of contribution it may have
against Indemnitee. The Company shall not enter into any settlement of any action, suit or
proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such
action, suit or proceeding) unless such settlement provides for a full and final release of all
claims asserted against Indemnitee.

          (b) Without diminishing or impairing the obligations of the Company set forth in the preceding
subparagraph, if, for any reason, Indemnitee shall elect or be required to pay all

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or any portion of any judgment or settlement in any threatened, pending or completed action,
suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in
such action, suit or proceeding), the Company shall contribute to the amount of Expenses,
judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or
payable by Indemnitee in proportion to the relative benefits received by the Company and all
officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with
Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and
Indemnitee, on the other hand, from the transaction from which such action, suit or proceeding
arose; provided, however, that the proportion determined on the basis of relative benefit may, to
the extent necessary to conform to law, be further adjusted by reference to the relative fault of
the Company and all officers, directors or employees of the Company other than Indemnitee who are
jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the
one hand, and Indemnitee, on the other hand, in connection with the events that resulted in such
expenses, judgments, fines or settlement amounts, as well as any other equitable considerations
which the Law may require to be considered. The relative fault of the Company and all officers,
directors or employees of the Company, other than Indemnitee, who are jointly liable with
Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and
Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree
to which their actions were motivated by intent to gain personal profit or advantage, the degree to
which their liability is primary or secondary and the degree to which their conduct is active or
passive.

          (c) The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims
of contribution which may be brought by officers, directors or employees of the Company, other than
Indemnitee, who may be jointly liable with Indemnitee.

          (d) To the fullest extent permissible under applicable law, if the indemnification provided
for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu
of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for
judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for
Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in
such proportion as is deemed fair and reasonable in light of all of the circumstances of such
Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as
a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the
relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in
connection with such event(s) and/or transaction(s).

     4. Indemnification for Expenses of a Witness. Notwithstanding any other provision of
this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a witness, or
is made (or asked to) respond to discovery requests, in any Proceeding to which Indemnitee is not a
party, he shall be indemnified against all Expenses actually and reasonably incurred by him or on
his behalf in connection therewith.

     5. Advancement of Expenses. Notwithstanding any other provision of this Agreement,
the Company shall advance all Expenses incurred by or on behalf of Indemnitee in connection with
any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30) days after the receipt
by the Company of a statement or statements from Indemnitee requesting

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such advance or advances from time to time, whether prior to or after final disposition of
such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by
Indemnitee and shall include or be preceded or accompanied by a written undertaking by or on behalf
of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee
is not entitled to be indemnified against such Expenses. Any advances and undertakings to repay
pursuant to this Section 5 shall be unsecured and interest free.

     6. Procedures and Presumptions for Determination of Entitlement to Indemnification.
It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as
favorable as may be permitted under the DGCL and public policy of the State of Delaware.
Accordingly, the parties agree that the following procedures and presumptions shall apply in the
event of any question as to whether Indemnitee is entitled to indemnification under this Agreement:

          (a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a
written request, including therein or therewith such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to determine whether and to what extent
Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon
receipt of such a request for indemnification, advise the Board of Directors in writing that
Indemnitee has requested indemnification. Notwithstanding the foregoing, any failure of Indemnitee
to provide such a request to the Company, or to provide such a request in a timely fashion, shall
not relieve the Company of any liability that it may have to Indemnitee unless, and to the extent
that, such failure actually and materially prejudices the interests of the Company.

          (b) Upon written request by Indemnitee for indemnification pursuant to the first sentence of
Section 6(a) hereof, a determination with respect to Indemnitee’s entitlement thereto shall
be made in the specific case by one of the following four methods, which shall be at the election
of the board: (1) by a majority vote of the disinterested directors, even though less than a
quorum, (2) by a committee of disinterested directors designated by a majority vote of the
disinterested directors, even though less than a quorum, (3) if there are no disinterested
directors or if the disinterested directors so direct, by independent legal counsel in a written
opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee, or (4) if
so directed by the Board of Directors, by the stockholders of the Company. For purposes hereof,
disinterested directors are those members of the board of directors of the Company who are not
parties to the action, suit or proceeding in respect of which indemnification is sought by
Indemnitee.

          (c) If the determination of entitlement to indemnification is to be made by Independent
Counsel pursuant to Section 6(b) hereof, the Independent Counsel shall be selected as
provided in this Section 6(c). The Independent Counsel shall be selected by the Board of
Directors. Indemnitee may, within 10 days after such written notice of selection shall have been
given, deliver to the Company a written objection to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Counsel so selected does not meet
the requirements of “Independent Counsel” as defined in Section 13 of this Agreement, and
the objection shall set forth with particularity the factual basis of such assertion. Absent a
proper and timely objection, the person so selected shall act as Independent Counsel. If a written
objection is made and substantiated, the Independent Counsel selected may not serve as

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Independent Counsel unless and until such objection is withdrawn or a court has determined
that such objection is without merit. If, within 20 days after submission by Indemnitee of a
written request for indemnification pursuant to Section 6(a) hereof, no Independent Counsel
shall have been selected and not objected to, either the Company or Indemnitee may petition the
Court of Chancery of the State of Delaware or other court of competent jurisdiction for resolution
of any objection which shall have been made by the Indemnitee to the Company’s selection of
Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the
court or by such other person as the court shall designate, and the person with respect to whom all
objections are so resolved or the person so appointed shall act as Independent Counsel under
Section 6(b) hereof. The Company shall pay any and all reasonable fees and expenses of
Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to
Section 6(b) hereof, and the Company shall pay all reasonable fees and expenses incident to
the procedures of this Section 6(c), regardless of the manner in which such Independent
Counsel was selected or appointed.

          (d) In making a determination with respect to entitlement to indemnification hereunder, the
person or persons or entity making such determination shall presume that Indemnitee is entitled to
indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the
burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure
of the Company (including by its directors or independent legal counsel) to have made a
determination prior to the commencement of any action pursuant to this Agreement that
indemnification is proper in the circumstances because Indemnitee has met the applicable standard
of conduct, nor an actual determination by the Company (including by its directors or independent
legal counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense
to the action or create a presumption that Indemnitee has not met the applicable standard of
conduct.

          (e) Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on
the records or books of account of the Enterprise, including financial statements, or on
information supplied to Indemnitee by the officers of the Enterprise (as hereinafter defined) in
the course of their duties, or on the advice of legal counsel for the Enterprise or on information
or records given or reports made to the Enterprise by an independent certified public accountant or
by an appraiser or other expert selected with reasonable care by the Enterprise. In addition, the
knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the
Enterprise shall not be imputed to Indemnitee for purposes of determining the right to
indemnification under this Agreement. Whether or not the foregoing provisions of this Section
6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in
good faith and in a manner he reasonably believed to be in or not opposed to the best interests of
the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the
burden of persuasion by clear and convincing evidence.

          (f) If the person, persons or entity empowered or selected under Section 6 to
determine whether Indemnitee is entitled to indemnification shall not have made a determination
within sixty (60) days after receipt by the Company of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material
fact, or an omission of a material fact necessary to make Indemnitee’s statement not

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materially misleading, in connection with the request for indemnification, or (ii) a
prohibition of such indemnification under applicable law; provided, however, that such 60-day
period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the
person, persons or entity making such determination with respect to entitlement to indemnification
in good faith requires such additional time to obtain or evaluate documentation and/or information
relating thereto; and provided, further, that the foregoing provisions of this Section 6(g)
shall not apply if the determination of entitlement to indemnification is to be made by the
stockholders pursuant to Section 6(b) of this Agreement and if (A) within fifteen (15) days
after receipt by the Company of the request for such determination, the Board of Directors or the
Disinterested Directors, if appropriate, resolve to submit such determination to the stockholders
for their consideration at an annual meeting thereof to be held within seventy-five (75) days after
such receipt and such determination is made thereat, or (B) a special meeting of stockholders is
called within fifteen (15) days after such receipt for the purpose of making such determination,
such meeting is held for such purpose within sixty (60) days after having been so called and such
determination is made thereat.

          (g) Indemnitee shall cooperate with the person, persons or entity making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing to such person,
persons or entity upon reasonable advance request any documentation or information which is not
privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee
and reasonably necessary to such determination. Any Independent Counsel, member of the Board of
Directors or stockholder of the Company shall act reasonably and in good faith in making a
determination regarding the Indemnitee’s entitlement to indemnification under this Agreement. Any
costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so
cooperating with the person, persons or entity making such determination shall be borne by the
Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and
the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

          (h) The Company acknowledges that a settlement or other disposition short of final judgment
may be successful if it permits a party to avoid expense, delay, distraction, disruption and
uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is
resolved in any manner other than by adverse judgment against Indemnitee (including, without
limitation, settlement of such action, claim or proceeding with or without payment of money or
other consideration) it shall be presumed that Indemnitee has been successful on the merits or
otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption shall
have the burden of proof and the burden of persuasion by clear and convincing evidence.

          (i) The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not
(except as otherwise expressly provided in this Agreement) of itself adversely affect the right of
Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and
in a manner which he reasonably believed to be in or not opposed to the best interests of the
Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to
believe that his conduct was unlawful.

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     7. Remedies of Indemnitee.

          (a) In the event that (i) a determination is made pursuant to Section 6 of this
Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement
of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no
determination of entitlement to indemnification is made pursuant to Section 6(b) of this
Agreement within 90 days after receipt by the Company of the request for indemnification, (iv)
payment of indemnification is not made pursuant to this Agreement within ten (10) days after
receipt by the Company of a written request therefor or (v) payment of indemnification is not made
within ten (10) days after a determination has been made that Indemnitee is entitled to
indemnification or such determination is deemed to have been made pursuant to Section 6 of
this Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the
State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s entitlement to
such indemnification. Indemnitee shall commence such proceeding seeking an adjudication within 180
days following the date on which Indemnitee first has the right to commence such proceeding
pursuant to this Section 7(a). The Company shall not oppose Indemnitee’s right to seek any
such adjudication.

          (b) In the event that a determination shall have been made pursuant to Section 6(b) of
this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding
commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial
on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under
Section 6(b).

          (c) If a determination shall have been made pursuant to Section 6(b) of this Agreement
that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in
any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement by
Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
misstatement not materially misleading in connection with the application for indemnification, or
(ii) a prohibition of such indemnification under applicable law.

          (d) In the event that Indemnitee, pursuant to this Section 7, seeks a judicial
adjudication of his rights under, or to recover damages for breach of, this Agreement, or to
recover under any directors’ and officers’ liability insurance policies maintained by the Company,
the Company shall pay on his behalf, in advance, any and all expenses (of the types described in
the definition of Expenses in Section 13 of this Agreement) actually and reasonably
incurred by him in such judicial adjudication, regardless of whether Indemnitee ultimately is
determined to be entitled to such indemnification, advancement of expenses or insurance recovery.

          (e) The Company shall be precluded from asserting in any judicial proceeding commenced
pursuant to this Section 7 that the procedures and presumptions of this Agreement are not
valid, binding and enforceable and shall stipulate in any such court that the Company is bound by
all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all
Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company
of a written request therefore) advance, to the extent not prohibited by law, such expenses to
Indemnitee, which are incurred by Indemnitee in connection with any

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action brought by Indemnitee for indemnification or advance of Expenses from the Company under
this Agreement or under any directors’ and officers’ liability insurance policies maintained by the
Company, regardless of whether Indemnitee ultimately is determined to be entitled to such
indemnification, advancement of Expenses or insurance recovery, as the case may be.

          (f) Notwithstanding anything in this Agreement to the contrary, no determination as to
entitlement to indemnification under this Agreement shall be required to be made prior to the final
disposition of the Proceeding.

     8. Non-Exclusivity; Survival of Rights; Insurance; Primacy of Indemnification;
Subrogation.

          (a) The rights of indemnification as provided by this Agreement shall not be deemed exclusive
of any other rights to which Indemnitee may at any time be entitled under applicable law, the
Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders, a resolution of
directors or otherwise, of the Company. No amendment, alteration or repeal of this Agreement or of
any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in
respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to such
amendment, alteration or repeal. To the extent that a change in the DGCL, whether by statute or
judicial decision, permits greater indemnification than would be afforded currently under the
Certificate of Incorporation, Bylaws and this Agreement, it is the intent of the parties hereto
that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No
right or remedy herein conferred is intended to be exclusive of any other right or remedy, and
every other right and remedy shall be cumulative and in addition to every other right and remedy
given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other right or remedy.

          (b) To the extent that the Company maintains an insurance policy or policies providing
liability insurance for directors, officers, employees, or agents or fiduciaries of the Company or
of any other corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise that such person serves at the request of the Company, Indemnitee shall be covered by
such policy or policies in accordance with its or their terms to the maximum extent of the coverage
available for any director, officer, employee, agent or fiduciary under such policy or policies.
If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has
director and officer liability insurance in effect, the Company shall give prompt notice of the
commencement of such proceeding to the insurers in accordance with the procedures set forth in the
respective policies. The Company shall thereafter take all necessary or desirable action to cause
such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such
proceeding in accordance with the terms of such policies.

          (c) [The Company hereby acknowledges that Indemnitee has certain rights to indemnification,
advancement of expenses and/or insurance provided by one or more VC Funds and certain of their
affiliates (collectively, the “Fund Indemnitors”). The Company hereby agrees (i) that it is the
indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of
the Fund Indemnitors to advance expenses or to provide indemnification for the same expenses or
liabilities incurred by Indemnitee are secondary), (ii) that it shall be

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required to advance the full amount of expenses incurred by Indemnitee and shall be liable for
the full amount of all Expenses, judgments, penalties, fines and amounts paid in settlement to the
extent legally permitted and as required by the terms of this Agreement and the Certificate of
Incorporation or Bylaws of the Company (or any other agreement between the Company and Indemnitee),
without regard to any rights Indemnitee may have against the Fund Indemnitors, and, (iii) that it
irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all claims against
the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect
thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on
behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from
the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution
and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery
of Indemnitee against the Company. The Company and Indemnitee agree that the Fund Indemnitors are
express third party beneficiaries of the terms of this Section 8(c).]

          (d) [Except as provided in paragraph (c) above,] in the event of any payment under this
Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of
recovery of Indemnitee (other than against the Fund Indemnitors), who shall execute all papers
required and take all action necessary to secure such rights, including execution of such documents
as are necessary to enable the Company to bring suit to enforce such rights.

          (e) [Except as provided in paragraph (c) above,] the Company shall not be liable under this
Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent
that Indemnitee has otherwise actually received such payment under any insurance policy, contract,
agreement or otherwise.

          (f) [Except as provided in paragraph (c) above,] the Company’s obligation to indemnify or
advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a
director, officer, employee or agent of any other corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually
received as indemnification or advancement of expenses from such other corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise.

     9. Exception to Right of Indemnification. Notwithstanding any provision in this
Agreement, the Company shall not be obligated under this Agreement to make any indemnity in
connection with any claim made against Indemnitee:

          (a) for which payment has actually been made to or on behalf of Indemnitee under any insurance
policy or other indemnity provision, except with respect to any excess beyond the amount paid under
any insurance policy or other indemnity provision[, provided, that the foregoing shall not affect
the rights of Indemnitee or the Fund Indemnitors set forth in Section 8(c) above]; or

          (b) for an accounting of profits made from the purchase and sale (or sale and purchase) by
Indemnitee of securities of the Company within the meaning of Section 16(b) of the
Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common
law; or

10

 

          (c) in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee,
including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the
Company or its directors, officers, employees or other indemnitees, unless (i) the Board of
Directors of the Company authorized the Proceeding (or any part of any Proceeding) prior to its
initiation or (ii) the Company provides the indemnification, in its sole discretion, pursuant to
the powers vested in the Company under applicable law.

     10. Duration of Agreement. All agreements and obligations of the Company contained
herein shall continue during the period Indemnitee is an officer or director of the Company (or is
or was serving at the request of the Company as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise) and shall continue for five (5)
years thereafter or, if longer, so long as Indemnitee shall be subject to any Proceeding (or any
proceeding commenced under Section 7 hereof) by reason of his Corporate Status, whether or
not he is acting or serving in any such capacity at the time any liability or expense is incurred
for which indemnification can be provided under this Agreement. This Agreement shall be binding
upon and inure to the benefit of and be enforceable by the parties hereto and their respective
successors (including any direct or indirect successor by purchase, merger, consolidation or
otherwise to all or substantially all of the business or assets of the Company), assigns, spouses,
heirs, executors and personal and legal representatives.

     11. Security. To the extent requested by Indemnitee and approved by the Board of
Directors of the Company, the Company may at any time and from time to time provide security to
Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit,
funded trust or other collateral. Any such security, once provided to Indemnitee, may not be
revoked or released without the prior written consent of the Indemnitee.

     12. Enforcement.

          (a) The Company expressly confirms and agrees that it has entered into this Agreement and
assumes the obligations imposed on it hereby in order to induce Indemnitee to serve as an officer
or director of the Company, and the Company acknowledges that Indemnitee is relying upon this
Agreement in serving as an officer or director of the Company.

          (b) This Agreement constitutes the entire agreement between the parties hereto with respect to
the subject matter hereof and supersedes all prior agreements and understandings, oral, written and
implied, between the parties hereto with respect to the subject matter hereof.

     13. Definitions. For purposes of this Agreement:

          (a) “Corporate Status” describes the status of a person who is or was a director, officer,
employee, agent or fiduciary of the Company or of any other corporation, partnership, joint
venture, trust, employee benefit plan or other enterprise that such person is or was serving at the
express written request of the Company.

          (b) “Disinterested Director” means a director of the Company who is not and was not a party to
the Proceeding in respect of which indemnification is sought by Indemnitee.

11

 

          (c) “Enterprise” shall mean the Company and any other corporation, partnership, joint venture,
trust, employee benefit plan or other enterprise that Indemnitee is or was serving at the express
written request of the Company as a director, officer, employee, agent or fiduciary.

          (d) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs,
transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and
binding costs, telephone charges, postage, delivery service fees and all other disbursements or
expenses of the types customarily incurred in connection with prosecuting, defending, preparing to
prosecute or defend, investigating, participating, or being or preparing to be a witness in a
Proceeding, or responding to, or objecting to, a request to provide discovery in any Proceeding.
Expenses also shall include Expenses incurred in connection with any appeal resulting from any
Proceeding and any federal, state, local or foreign taxes imposed on the Indemnitee as a result of
the actual or deemed receipt of any payments under this Agreement, including without limitation the
premium, security for, and other costs relating to any cost bond, supersede as bond, or other
appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by
Indemnitee or the amount of judgments or fines against Indemnitee.

          (e) “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in
matters of corporation law and neither presently is, nor in the past five years has been, retained
to represent: (i) the Company or Indemnitee in any matter material to either such party (other
than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees
under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to
a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent
Counsel” shall not include any person who, under the applicable standards of professional conduct
then prevailing, would have a conflict of interest in representing either the Company or Indemnitee
in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the
reasonable fees of the Independent Counsel referred to above and to fully indemnify such counsel
against any and all Expenses, claims, liabilities and damages arising out of or relating to this
Agreement or its engagement pursuant hereto.

          (f) “Proceeding” includes any threatened, pending or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other
actual, threatened or completed proceeding, whether brought by or in the right of the Company or
otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee was, is
or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was an
officer or director of the Company, by reason of any action taken by him or of any inaction on his
part while acting as an officer or director of the Company, or by reason of the fact that he is or
was serving at the request of the Company as a director, officer, employee, agent or fiduciary of
another corporation, partnership, joint venture, trust or other Enterprise; in each case whether or
not he is acting or serving in any such capacity at the time any liability or expense is incurred
for which indemnification can be provided under this Agreement; including one pending on or before
the date of this Agreement, but excluding one initiated by an Indemnitee pursuant to Section
7 of this Agreement to enforce his rights under this Agreement.

12

 

     14. Severability. The invalidity or unenforceability of any provision hereof shall in
no way affect the validity or enforceability of any other provision. Without limiting the
generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification
rights to the fullest extent permitted by applicable laws. In the event any provision hereof
conflicts with any applicable law, such provision shall be deemed modified, consistent with the
aforementioned intent, to the extent necessary to resolve such conflict.

     15. Modification and Waiver. No supplement, modification, termination or amendment of
this Agreement shall be binding unless executed in writing by both of the parties hereto. No
waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing
waiver.

     16. Notice By Indemnitee. Indemnitee agrees promptly to notify the Company in writing
upon being served with or otherwise receiving any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding or matter which may be subject
to indemnification covered hereunder. The failure to so notify the Company shall not relieve the
Company of any obligation which it may have to Indemnitee under this Agreement or otherwise unless
and only to the extent that such failure or delay materially prejudices the Company.

     17. Notices. All notices and other communications given or made pursuant to this
Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to
the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during
normal business hours of the recipient, and if not so confirmed, then on the next business day, (c)
five (5) days after having been sent by registered or certified mail, return receipt requested,
postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be
sent:

	 	(a)	 	To Indemnitee at the address set forth below Indemnitee signature hereto.
	 
	 	(b)	 	To the Company at:
	 
	 	 	 	Alimera Sciences, Inc.

6120 Windward Parkway, Suite 290

Alpharetta, GA 30005

Attention: Chief Executive Officer

or to such other address as may have been furnished to Indemnitee by the Company or to the Company
by Indemnitee, as the case may be.

     18. Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same
Agreement. This Agreement may also be executed and delivered by facsimile signature and in two or
more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

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     19. Headings. The headings of the paragraphs of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

     20. Governing Law and Consent to Jurisdiction. This Agreement and the legal relations
among the parties shall be governed by, and construed and enforced in accordance with, the laws of
the State of Delaware, without regard to its conflict of laws rules. The Company and Indemnitee
hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in
connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware
(the “Delaware Court”), and not in any other state or federal court in the United States of America
or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the
Delaware Court for purposes of any action or proceeding arising out of or in connection with this
Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the
Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action
or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

SIGNATURE PAGE TO FOLLOW

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

	 	 	 	 	 	 	 
	 	 	ALIMERA SCIENCES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	INDEMNITEE	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Address:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

Signature
Page To Indemnification Agreementexv10w2

Exhibit 10.2

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

WITH

ALIMERA SCIENCES, INC.

     This Amended and Restated Employment Agreement (this “Employment Agreement”) entered into
between Alimera Sciences, Inc., a Delaware corporation (the “Company”), and C. Daniel Myers
(“Executive”), as of the latest date set forth on the signature page hereto.

RECITALS:

     WHEREAS, the Company is engaged in the business of developing, marketing and selling
ophthalmic pharmaceuticals in the United States and throughout the world;

     WHEREAS, Company and Executive desire that Executive continue to provide the Company
employment services upon the terms and conditions set forth below;

     WHEREAS, the Company and Executive previously entered into that certain Employment Agreement,
dated as of June 29, 2004 (the “Original Agreement”); and

     WHEREAS, pursuant to the terms of the Original Agreement, the Company and Executive desire to
amend and restate the Original Agreement, effective as of the date hereof (the “Amendment Date”)
to, among other things, reflect new acceleration provisions and to comply with Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”).

     NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein, the
parties, intending to be legally bound, agree as follows:

AGREEMENT:

SECTION 1. EFFECTIVE DATE

     Subject to the terms and conditions set forth in this Employment Agreement, the Company agrees
to continue to employ Executive, and Executive agrees to continue to be employed by the Company as
of the date hereto (the “Effective Date”).

SECTION 2. DEFINITIONS

     “Cause” means

     (1) Executive’s gross negligence or willful misconduct with respect to the business and
affairs of the Company, including violation of any material policy of the Company that is
not cured within 30 days after written notice thereof is given to Executive by the Company;

     (2) Executive’s conviction of, or entering a guilty plea or plea of no contest with
respect to, a felony; or

 

 

     (3) Executive engages in any material breach of the terms of this Employment Agreement
or fails to fulfill his responsibilities under this Employment Agreement and such breach or
failure, as the case may be, is not cured, or is not capable of being cured, within 30 days
after written notice thereof is given to Executive by the Company.

     “Change in Control” means (i) the consummation of a merger or consolidation of the Company
with or into another entity or any other corporate reorganization, if persons who were not
stockholders of the Company immediately prior to such merger, consolidation or other reorganization
own immediately after such merger, consolidation or other reorganization 50% or more of the voting
power of the outstanding securities of each of (A) the continuing or surviving entity and (B) any
direct or indirect parent corporation of such continuing or surviving entity or (ii) the sale,
transfer or other disposition of all or substantially all of the Company’s assets. A transaction
shall not constitute a Change in Control if its sole purpose is to change the state of the
Company’s incorporation or to create a holding company that will be owned in substantially the same
proportions by the persons who held the Company’s securities immediately before such transaction.

     Competing Business” means any business which develops, sells or markets ophthalmic
pharmaceuticals.

     “Disability” means a condition which renders Executive unable (as determined by the Board of
Directors of the Company in good faith after consultation with a physician mutually selected by the
Executive and the Board of Directors of the Company) to regularly perform his duties hereunder by
reason of illness or injury for a period of more than six consecutive months with or without
reasonable accommodation.

     “Earned Bonus” means the bonus, determined based on the actual performance of the Company for
the full fiscal year in which Executive’s employment terminates, that Executive would have earned
for the year in which his employment terminates had he remained employed for the entire year,
prorated based on the ratio of the number of days during such year that Executive was employed to
365. Such Earned Bonus will be determined and paid to Executive no later than 21/2 months after the
close of the fiscal year in which the Earned Bonus was earned.

     “Equity” means (i) all shares of Stock; (ii) all options and other rights to purchase shares
of Stock; (iii) all stock units, performance units or phantom shares whose value is measured by the
value of shares of Stock; and (iv) all stock appreciation rights whose value is measured by
increases in the value of shares of Stock.

     For purposes of Section 4(e), “Good Reason” shall mean (i) a material diminution of
Executive’s authority, duties or responsibilities; (ii) a geographic relocation of the Company’s
headquarters, or Executive’s primary business location, to a location that is more than 35 miles
from the present location of the Company’s corporate headquarters or Executive’s primary business
location, as the case may be; or (iii) any breach by the Company of the Employment Agreement, which
is material and which is not cured within 30 days after written notice thereof to the Company from
Executive.

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     For purposes of Section 5, “Good Reason” shall be mean that Executive resigns within 12 months
after one of the following conditions has come into existence without his consent: (i) a reduction
in Executive’s base salary from the amount set forth in Section 4(a) hereof; (ii) a material
adverse change in Executive’s primary responsibilities or duties; (iii) a geographical relocation
of the Company’s corporate headquarters, or the Executive’s primary business location, to a
location that is more than 35 miles from the present location of the Company’s corporate
headquarters or Executive’s primary business location, as the case may be; (iv) any breach by the
Company of this Employment Agreement which is material and which is not cured, or is not capable of
being cured, within 30 days after written notice thereof to the Company and the Board of Directors
of the Company from Executive. A condition shall not be considered “Good Reason” unless Executive
gives the Company written notice of such condition within 90 days after such condition comes into
existence and the Company fails to remedy such condition within 30 days after receiving Executive’s
written notice.

     “ISP” means the Alimera Sciences, Inc. 2004 Incentive Stock Plan as amended from time to time,
the Alimera Sciences, Inc. 2005 Incentive Stock Plan as amended from time to time, and any
successor to such plan.

     “Restricted Period” means the 12 month period beginning on and after the Executive’s
employment with the Company is terminated pursuant to the terms of this Employment Agreement.

     “Separation” means a “separation from service”, as defined in the regulations under Section
409A of the Code.

SECTION 3. TITLE, POWERS AND RESPONSIBILITIES

     (a) Title. Executive shall be President and Chief Executive Officer.

     (b) Powers and Responsibilities.

     (1) Executive in fulfilling his responsibilities shall have such powers as are normally
and customarily associated with a President and Chief Executive Officer in a company of
similar size and operating in a similar industry, including the power to hire and fire
employees and executives of the Company reporting to Executive and such other powers as
authorized by the Board of Directors of the Company.

     (2) Executive, as a condition to his employment under this Employment Agreement,
represents and warrants that he can assume and fulfill responsibilities described in
Section 3(b)(1) without any risk of violating any non-compete or other restrictive
covenant or other agreement to which he is a party.

     (c) Reporting Relationship. Executive shall report to the Company’s Board of
Directors.

     (d) Full Time Basis. Executive shall undertake to perform all his responsibilities
and exercise all his powers in good faith and on a full-time basis.

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SECTION 4. COMPENSATION, BENEFITS, ETC.

     (a) Annual Base Salary. Executive’s base salary shall be $340,000 per year, which
amount may be reviewed and increased at the discretion of the Board of Directors of the Company or
any committee of the Board of Directors of the Company duly authorized to take such action.
Executive’s base salary shall be payable in accordance with the Company’s standard payroll
practices and policies for executives and shall be subject to such withholdings as required by law
or as otherwise permissible under such practices or policies.

     (b) Annual Bonus. The Company shall pay an annual bonus for a fiscal year to
Executive no later than 21/2 months after the close of such fiscal year, in the amount, and subject
to the terms and conditions of the Company’s Management Cash Incentive Program (or any predecessor
or successor cash incentive plan thereto), which may be reviewed at the discretion of the Board of
Directors of the Company or any committee of the Board of Directors of the Company duly authorized
to take such action. The determinations of the Board or its Compensation Committee with respect to
such bonus shall be final and binding; provided, that Executive’s target annual bonus amount shall
not be reduced to an amount below 40% of the Executive’s then-current base salary.

     (c) Employee Benefit Plans. Executive shall be eligible to participate, on terms no
less favorable to Executive than the terms for participation of any other executive of the Company
at the same level within the Company as Executive, in the employee benefit plans, programs and
policies maintained by the Company in accordance with the terms and conditions to participate in
such plans, programs and policies as in effect from time to time.

     (d) Stock Options. Executive shall receive stock options at the discretion of the
Board of Directors of the Company, subject to the terms and conditions set forth in the ISP and any
corresponding option certificate granted to Executive under the ISP. As of the Effective Date,
Executive shall be entitled to a grant of stock options as set forth on Schedule B attached
hereto.

     (e) Acceleration. The following terms shall apply to all of Executive’s Equity
outstanding as of the Amendment Date, and to all future grants of Equity:

     (1) The vested percentage of Executive’s Equity shall be determined by adding 12 months
to the actual period of service that Executive has completed with the Company if the Company
is subject to a Change in Control before Executive’s service with the Company terminates
(i.e., Executive’s vesting shall be accelerated by an additional 12 months). The remaining
unvested Equity shall vest in the same amount per vesting period as prior to the Change in
Control.

     (2) Executive shall vest in 100% of the remaining unvested Equity if (a) the Company is
subject to a Change in Control before Executive’s service with the Company terminates and
(b) within 12 months after the Change in Control, Executive is terminated by the Company (or
its successor) without Cause or Executive terminates his employment for Good Reason.

4

 

     (3) In the event that the Company is a party to a merger or consolidation, all
outstanding Equity shall vest in full unless the agreement evidencing the merger or
consolidation provides for one or more of the following:

     (A) The continuation of such outstanding Equity by the Company (if the
Company is the surviving corporation).

     (B) The assumption of such outstanding Equity by the surviving
corporation or its parent.

     (C) The substitution by the surviving corporation or its parent of new
Equity for such outstanding Equity.

     (D) Full exercisability of outstanding Equity and full vesting of the
common shares subject to such Equity, followed by the cancellation of such
Equity. The full exercisability of such Equity and full vesting of such
common shares may be contingent on the closing of such merger or
consolidation.

     (E) The cancellation of outstanding Equity and a payment to Executive
equal to the excess of (i) the Fair Market Value of the common shares
subject to such Equity (whether or not such Equity is then exercisable or
such common shares are then vested) as of the closing date of such merger or
consolidation over (ii) the exercise price. Such payment shall be made in
the form of cash, cash equivalents, or securities of the surviving
corporation or its parent with a fair market value equal to the required
amount. Such payment may be made in installments and may be deferred until
the date or dates when such Equity would have become exercisable or such
common shares would have vested. Such payment may be subject to vesting
based on Executive’s continuing service, provided that the vesting schedule
shall not be less favorable to Executive than the schedule under which such
Equity would have become exercisable or such common shares would have
vested. This provision is mandatory in the event that the Company is
acquired by a private company for cash.

     (f) Vacation. Executive shall have the right to four weeks of vacation during each
successive one year period of his employment by the Company, which vacation time shall be taken at
such time or times in each such one year period so as not to materially and adversely interfere
with the performance of his responsibilities under this Employment Agreement. Executive in
addition shall have the right to the same time off work as other employees of the Company.

     (g) Expense Reimbursements. Executive shall have the right to expense reimbursements
in accordance with the Company’s standard policy on expense reimbursements. Any reimbursement
shall (a) be paid promptly but not later than the last day of the calendar year following the year
in which the expense was incurred, (b) not be affected by any other expenses
that are eligible for reimbursement in any calendar year and (c) not be subject to liquidation
or exchange for another benefit.

5

 

     (h) Indemnification. The Company shall, to the maximum extent permitted by applicable
law and the Company’s governing documents, indemnify Executive and hold Executive harmless from and
against any claim, loss or cause of action arising from or out of Executive’s performance as an
officer, director, manager or employee of the Company or in any other capacity in which Executive
serves at the request of the Board of Directors of the Company. If any claim is asserted hereunder
against Executive, the Company shall pay Executive’s legal expenses (or cause such expenses to be
paid) on a quarterly basis, provided that Executive shall reimburse the Company, in a timely
manner, for such amounts if Executive shall be found by a final, non-appealable order of a court of
competent jurisdiction not to be entitled to indemnification. The indemnification obligations of
the Company in this paragraph shall survive any termination of this Employment Agreement.

     (i) Directors and Officers Liability Insurance. The Company shall maintain directors
and officers liability insurance coverage covering Executive in amounts customary for similarly
situated companies in the pharmaceutical industry and with insurers reasonably acceptable to
Executive. All policies for such coverage shall provide for insurance on an “occurrence” basis, or
if on a “claims-made” basis, with sufficient coverage for claims made after the date on which
Executive’s employment with the Company terminates.

SECTION 5. TERMINATION OF EMPLOYMENT

     (a) General. Executive’s employment with the Company shall be “at will,” meaning that
either Executive or the Company shall be entitled to terminate Executive’s employment at any time
and for any reason, with or without Cause or Good Reason. Any contrary representations that may
have been made to Executive shall be superseded by this Employment Agreement. This Employment
Agreement shall constitute the full and complete agreement between Executive and the Company on the
“at will” nature of Executive’s employment, which may only be changed in an express written
agreement signed by Executive and a duly authorized officer of the Company

     (b) Termination by Board of Directors without Cause or by Executive for Good Reason.
If the Board of Directors terminates Executive’s employment without Cause or Executive resigns for
Good Reason and a Separation occurs, the Company shall pay Executive his earned but unpaid base
salary plus 100% of his current total annual base salary (subject to such withholdings as required
by law) payable in twelve equal monthly installments, and Executive’s Earned Bonus for the fiscal
year of termination that shall be paid in no event later than 21/2 months following the close of such
fiscal year. The salary continuation payments shall commence within 30 days after Executive
returns the release described in Subsection (b)(1) above. This obligation shall remain in effect
even if Executive accepts other employment. In addition, the Company shall make any continuation
coverage premium payments (not only for Executive, but for Executive’s dependents) for continued
health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), for
the one year period following the Separation or, if earlier, until Executive is eligible to be
covered under another substantially equivalent medical insurance plan by a subsequent employer.

6

 

     (c) Termination by the Board of Directors for Cause or by Executive without Good
Reason. If the Board of Directors of the Company terminates Executive’s employment for Cause
or Executive resigns without Good Reason, the Company’s only obligation to Executive under this
Employment Agreement shall be to pay Executive his earned but unpaid base salary, if any, up to the
date Executive’s employment terminates, and Executive shall have no right to any Earned Bonus or
any unpaid bonus payment whatsoever. The Company shall only be obligated to make such payments and
provide such benefits under any employee benefit plan, program or policy in which Executive was a
participant as are explicitly required to be paid to Executive by the terms of any such benefit
plan, program or policy following the date on which Executive’s employment terminates.

     (d) Termination for Disability. The Board of Directors of the Company shall have the
right to terminate Executive’s employment on or after the date Executive has a Disability, and such
a termination shall not be treated as a termination without Cause under this Employment Agreement.
If Executive’s employment is terminated on account of a Disability and a Separation occurs, the
Company shall:

     (1) pay Executive his base salary through the end of the month in which a Separation
occurs as soon as practicable after the Separation,

     (2) pay Executive his Earned Bonus for the fiscal year in which such Separation occurs;
provided that the Earned Bonus shall in no event be paid later than 21/2 months after the
close of such fiscal year,

     (3) pay or cause the payment of benefits to which Executive is entitled under the terms
of the disability plan of the Company covering Executive at the time of such Disability,

     (4) make such payments and provide such benefits as otherwise called for under the
terms of the ISP and each other employee benefit plan, program and policy in which Executive
was a participant; provided no payments made under Section 5(e)(1), Section
5(e)(2), or Section 5(e)(3) shall be taken into account in computing any
payments or benefits described in this Section 5(e)(4), and

     (5) make any COBRA continuation coverage premium payments (not only for Executive, but
also for Executive’s dependents), for the 18 month period following the termination of
Executive’s employment or, if earlier, until Executive is eligible to be covered under
another substantially equivalent medical insurance plan by a subsequent employer.

     (e) Death. If Executive’s employment terminates as a result of his death, the Company
shall:

     (1) pay Executive his base salary through the end of the month in which his employment
terminates as soon as practicable after his employment terminates,

     (2) pay Executive his Earned Bonus, when actually determined, for the year in which
Executive’s death occurs,

7

 

     (3) make such payments and provide such benefits as otherwise called for under the
terms of the ISP and each other employee benefit plan, program and policy in which Executive
was a participant; provided no payments made under Section 5(f)(1) or Section
5(f)(2) shall be taken into account in computing any payments or benefits described in
this Section 5(f)(3), and

     (4) make any COBRA continuation coverage premium payments for Executive’s dependents,
for the one year period following Executive’s death or, if earlier, until such dependents
are eligible to be covered under another substantially equivalent medical insurance plan.

SECTION 6. COVENANTS BY EXECUTIVE

     (a) Company Property. Executive upon the termination of Executive’s employment for
any reason or, if earlier, upon the Company’s request shall promptly return all Company Property
which had been entrusted or made available to Executive by the Company, where the term “Property”
means all records, files, memoranda, reports, price lists, customer lists, drawings, plans,
sketches, keys, codes, computer hardware and software and other property of any kind or description
prepared, used or possessed by Executive during Executive’s employment by the Company (and any
duplicates of any such Property) together with any and all information, ideas, concepts,
discoveries, and inventions and the like conceived, made, developed or acquired at any time by
Executive individually or, with others during Executive’s employment which relate to the Company or
its products or services.

     (b) Trade Secrets. Executive agrees that Executive shall hold in a fiduciary capacity
for the benefit of the Company and its affiliates and shall not directly or indirectly use or
disclose any Trade Secret that Executive may have acquired (whether or not developed or compiled by
Executive and whether or not Executive is authorized to have access to such information) during the
term of Executive’s employment by the Company or any of its predecessors for so long as such
information remains a Trade Secret, where the term “Trade Secret” means information, including, but
not limited to, technical or non-technical data, a formula, a pattern, a compilation, a program, a
device, a method, a technique, a drawing or a process that (1) derives economic value, actual or
potential, from not being generally known to, and not being generally readily ascertainable by
proper means by, other persons who can obtain economic value from its disclosure or use and (2) is
the subject of reasonable efforts by the Company and any of its affiliates to maintain its secrecy.
This Section 6(b) is intended to provide rights to the Company and its affiliates which
are in addition to, not in lieu of, those rights the Company and its affiliates have under the
common law or applicable statutes for the protection of trade secrets.

     (c) Confidential Information. Executive while employed by the Company or its
affiliates and for the three year period thereafter shall hold in a fiduciary capacity for the
benefit of the Company and its affiliates, and shall not directly or indirectly use or disclose,
any Confidential Information that Executive may have acquired (whether or not developed or compiled
by Executive and whether or not Executive is authorized to have access to such information) during
the term of, and in the course of, or as a result of Executive’s employment by the Company or its
predecessors without the prior written consent of the Board of Directors of the Company unless and
except to the extent that such disclosure is (i) made in the ordinary

8

 

course of Executive’s performance of his duties under this Employment Agreement or (ii)
required by any subpoena or other legal process (in which event Executive will give the Company
prompt notice of such subpoena or other legal process in order to permit the Company to seek
appropriate protective orders). For the purposes of this Employment Agreement, the term
“Confidential Information” means any secret, confidential or proprietary information possessed by
the Company or any of its affiliates, including, without limitation, trade secrets, customer or
supplier lists, details of client or consultant contracts, current and anticipated customer
requirements, pricing policies, price lists, market studies, business plans, operational methods,
marketing plans or strategies, product development techniques or flaws, computer software programs
(including object code and source code), data and documentation data, base technologies, systems,
structures and architectures, inventions and ideas, past current and planned research and
development, compilations, devices, methods, techniques, processes, financial information and data,
business acquisition plans and new personnel acquisition plans (not otherwise included as a Trade
Secret under this Employment Agreement) that has not become generally available to the public, and
the term “Confidential Information” may include, but not be limited to, future business plans,
licensing strategies, advertising campaigns, information regarding customers or suppliers,
executives and independent contractors and the terms and conditions of this Employment Agreement.
Notwithstanding the provisions of this Section 6(c) to the contrary, Executive shall be
permitted to furnish this Employment Agreement to a subsequent employer or prospective employer.

     (d) Non-solicitation of Customers or Employees.

     (1) Executive (i) while employed by the Company or any of its affiliates shall not, on
Executive’s own behalf or on behalf of any person, firm, partnership, association,
corporation or business organization, entity or enterprise (other than the Company or one of
its affiliates), solicit business for a Competing Business from customers or suppliers of
the Company or any of its affiliates and (ii) during the Restricted Period shall not, on
Executive’s own behalf or on behalf of any person, firm, partnership, association,
corporation or business organization, entity or enterprise, solicit business for a Competing
Business from customers or suppliers of the Company or any of its affiliates with whom
Executive, in the case of both clauses (i) and (ii) above, had or made material business
contact with in the course of Executive’s employment by the Company within the 24 month
period immediately preceding the beginning of the Restricted Period.

     (2) Executive (i) while employed by the Company or any of its affiliates shall not,
either directly or indirectly, call on, solicit or attempt to induce any other officer,
employee or independent contractor of the Company or any of its affiliates to terminate his
or her employment with such business and shall not assist any other person or entity in such
a solicitation (regardless of whether any such officer, employee or independent contractor
would commit a breach of contract by terminating his or her employment), and (ii) during the
Restricted Period, shall not, either directly or indirectly, call on, solicit or attempt to
induce any other officer, employee or independent contractor of such business with whom
Executive had contact, knowledge of, or association in the course of Executive’s employment
with the Company or any of its predecessors or affiliates, as the case may be, during the 12
month period immediately preceding the beginning of the Restricted Period, to terminate his
or her employment with the Company or any of its

9

 

affiliates and shall not assist any other person or entity in such a solicitation
(regardless of whether any such officer, employee or independent contractor would commit a
breach of contract by terminating his or her employment). Notwithstanding the foregoing,
nothing shall prohibit any person from contacting Executive about employment or other
engagement during the Restricted Period, provided that Executive does not solicit the
contact.

     (e) Non-competition Obligation. Without the prior written consent of the Company,
Executive, while employed by the Company or any of its affiliates and thereafter until the end of
the Restricted Period, will not engage in any of the activities described in Section
3(b)(1) hereof within the geographical area in which the Company or any of its affiliates is
actively engaged in developing, marketing and selling ophthalmic pharmaceuticals, for himself or on
behalf of any other person, partnership, corporation or other business entity which is in a
Competing Business for purposes of competing with the Company. Notwithstanding the preceding
sentence, Executive will not be prohibited from owning less than 5% percent of any publicly traded
corporation, whether or not such corporation is in a Competing Business.

     (f) Reasonable and Continuing Obligations. Executive agrees that Executive’s
obligations under this Section 6 are obligations which will continue beyond the date
Executive’s employment terminates and that such obligations are reasonable, fair and equitable in
scope, terms and duration, are necessary to protect the Company’s legitimate business interests and
are a material inducement to the Company to enter into this Employment Agreement.

     (g) Remedy for Breach. Executive agrees that the remedies at law of the Company for
any actual or threatened breach by Executive of the covenants in this Section 6 would be
inadequate and that the Company shall be entitled to specific performance of the covenants in this
Section 6, including entry of a temporary restraining order in state or federal court,
preliminary and permanent injunctive relief against activities in violation of this Section
6, or both, or other appropriate judicial remedy, writ or order, in addition to any damages and
legal expenses which the Company may be legally entitled to recover. The Company agrees, however,
to give Executive and, if known, Executive’s attorney reasonable advance notice of any legal
proceeding, including any application for a temporary restraining order, relating to an attempt to
enforce the covenants in this Section 6 against Executive. Executive acknowledges and
agrees that the covenants in this Section 6 shall be construed as agreements independent of
any other provision of this Employment Agreement or any other agreement between the Company and
Executive, and that the existence of any claim or cause of action by Executive against the Company,
whether predicated upon this Employment Agreement or any other agreement, shall not constitute a
defense to the enforcement by the Company of such covenants.

     (h) Termination of Restrictive Covenants. In addition to any other right or remedy
available to Executive, Executive shall no longer be bound by any of the restrictions set forth in
this Section 6 if the Company fails to pay or to provide Executive when due the amounts and
benefits due hereunder or under any agreement ancillary hereto, and Executive’s pursuit of such
remedy shall not relieve the Company from its obligations to pay and to provide such amounts and
benefits to Executive.

10

 

     (i) Ownership of Inventions, Discoveries, Improvements, Etc.

     (1) Executive shall promptly disclose and describe to the Company all inventions,
improvements, discoveries and technical developments, whether or not patentable, made or
conceived by Executive, either alone or with others, during such time as Executive is
employed with the Company, and within one year after the date upon such employment
terminates, and that (i) are based in whole or in part upon Confidential Information, or
(ii) during such time as Executive is employed with the Company are along the lines of,
useful in or related to the business of the Company, or (iii) result from, or are suggested
by, any work that may be done by Executive for or on behalf of the Company (“Inventions”).
Executive hereby assigns and agrees to assign to the Company Executive’s entire right, title
and interest in and to such Inventions (the “Assigned Inventions”), and agrees to cooperate
with the Company both during and after such time as Executive is employed with the Company
in the procurement and maintenance, at the Company’s expense and at its direction, of
patents, copyright registrations and/or protection of the Company’s rights in such
Inventions. Executive shall keep and maintain adequate and current written records of all
such Inventions, which shall be and remain the property of the Company.

     (2) If a patent application, trademark registration or copyright registration is filed
by Executive or on Executive’s behalf, or a copyright notice indicating Executive’s
authorship is used by Executive or on Executive’s behalf, within one year after the date on
which Executive’s employment with the Company terminates, that describes or identifies any
Invention within the scope of Executive’s work for the Company or that otherwise related to
a portion of the Company’s business (or any division thereof) of which Executive had
knowledge such time as Executive was employed with the Company, it is to be conclusively
presumed that the Invention was conceived by Executive during the such time as Executive was
employed with the Company. Executive agrees to notify the Company promptly of any such
application or registration and to assign to the Company Executive’s entire right, title and
interest in such Invention arid in such application or registration.

     (3) If (i) Executive uses or discloses any of Executive’s own or any third party’s
confidential information or intellectual property (collectively, “Restricted Materials”)
when acting within the scope of Executive’s employment (or otherwise on behalf of the
Company), or (ii) any Assigned Invention cannot be fully made, used, reproduced or otherwise
exploited without using or violating any Restricted Materials, Executive hereby grants and
agrees to grant to the Company a perpetual, irrevocable, worldwide, royalty-free,
non-exclusive, sublicensable right and license to exploit and exercise all such Restricted
Materials and intellectual property rights therein. Executive will not use or disclose any
Restricted Materials for which Executive is not fully authorized to grant the foregoing
license.

     (4) To the extent allowed by applicable law, the terms of this Section 6(i) include all
rights of paternity, integrity, disclosure and withdrawal and any other rights that may be
known as or referred to as moral rights, artist’s rights, droit moral or the like
(collectively, “Moral Rights”). To the extent Executive retains any such Moral Rights

11

 

under applicable law, Executive hereby ratifies and consents to any action that may be
taken with respect to such Moral Rights by or authorized by the Company and agrees not to
assert any Moral Rights with respect thereto. Executive will confirm any such ratification,
consent or agreement from time to time as requested by the Company.

SECTION 7. MISCELLANEOUS

     (a) Notices. Notices and all other communications shall be in writing and shall be
deemed to have been duly given when personally delivered or when mailed by United States registered
or certified mail. Notices to the Company shall be sent to:

Alimera Sciences, Inc.

6120 Windward Parkway, Suite 290

Alpharetta, Georgia 30005

Attention: Chief Executive Officer

Facsimile: 678-990-5744

     Notices and communications to Executive shall be sent to the address Executive most recently
provided to the Company.

     (b) No Waiver. Except for the notice described in Section 7(a), no failure by
either the Company or Executive at any time to give notice of any breach by the other of, or to
require compliance with, any condition or provision of this Employment Agreement shall be deemed a
waiver of any provisions or conditions of this Employment Agreement.

     (c) Tax Matters.

     (1) All payments made under this Employment Agreement shall be subject to reduction to
reflect taxes or other charges required to be withheld by law. For purposes of Section 409A
of the Code, each periodic salary continuation payment under Section 5(b) is hereby
designated as a separate payment. If the Company determines that Executive is a “specified
employee” under Section 409A(a)(2)(B)(i) of the Code and the regulations thereunder at the
time of his Separation, then (i) the salary continuation payments under Section 5(b), to the
extent not exempt from Section 409A of the Code, shall commence during the seventh month
after Executive’s Separation and (ii) the installments that otherwise would have been paid
during the first six months following Executive’s Separation shall be paid in a lump sum
when such salary continuation payments commence. The Company shall not have a duty to
design its compensation policies in a manner that minimizes Executive’s tax liabilities, and
Executive shall not make any claim against the Company or the Board related to tax
liabilities arising from the Executive’s compensation.

     (2) Certain payments, distributions and acceleration of vesting for Executive made in
connection with an acquisition of ownership or effective control of the Company or ownership
of a substantial portion of the Company’s assets (within the meaning of section 280G of the
Code and the regulations thereunder, can be subject to certain tax penalties under sections
280G and 4999 of the Code. This includes amounts payable or distributable pursuant to the
terms of this Agreement or otherwise. The excise tax on any

12

 

such payments, determined under sections 280G and 4999 of the Code, generally applies
if all of Executive’s parachute payments together equal or exceed 300% of his/her average
annual W-2 compensation from the Company.

     (d) Georgia Law. This Employment Agreement shall be governed by the law of the State
of Georgia, without regard to its provisions relating to choice of law or conflicts of law. Any
litigation that may be brought by either the Company or Executive involving the enforcement of this
Employment Agreement or any rights, duties, or obligations under this Employment Agreement, shall
be brought exclusively in a Georgia state court or United States District Court in Georgia.

     (e) Assignment. This Employment Agreement shall be binding upon and inure to the
benefit of the Company and any successor in interest to the Company. The Company may assign this
Employment Agreement to any affiliate or successor that acquires all or substantially all of the
assets and business of the Company or a majority of the voting interests of the Company, and no
such assignment shall be treated as a termination of Executive’s employment under this Employment
Agreement. Executive’s rights and obligations under this Employment Agreement are personal and
shall not be assigned or transferred.

     (f) Other Agreements. This Employment Agreement replaces and merges any and all
previous agreements and understandings regarding all the terms and conditions of Executive’s
employment relationship with the Company, and this Employment Agreement constitutes the entire
agreement between the Company and Executive with respect to such terms and conditions.

     (g) Amendment. No amendment to this Employment Agreement shall be effective unless it
is in writing and signed by the Company and by Executive.

     (h) Invalidity. If any part of this Employment Agreement is held by a court of
competent jurisdiction to be invalid or otherwise unenforceable, the remaining part shall be
unaffected and shall continue in full force and effect, and the invalid or otherwise unenforceable
part shall be deemed not to be part of this Employment Agreement.

     (i) Litigation. In the event that either party to this Employment Agreement
institutes litigation against the other party to enforce his or its respective rights under this
Employment Agreement, each party shall pay its own costs and expenses incurred in connection with
such litigation.

[The remainder of this page intentionally left blank]

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     IN WITNESS WHEREOF, the Company and Executive have executed this Employment Agreement in
multiple originals effective as of the Effective Date.

	 	 	 	 	 	 	 
	ALIMERA SCIENCES, INC.	 	EXECUTIVE
	 
	 	 	 	 	 	 
	By:

	 	/s/ Richard S. Eiswirth, Jr.
	 	By:
	 	/s/ C. Daniel Myers
	 

	 	 
	 	 	 	 
	Name:

	 	Richard S. Eiswirth, Jr.
	 	Name:
	 	C. Daniel Myers
	 

	 	 
	 	 	 	 
	Title:

	 	CFO
	 	Title:
	 	President/CEO
	 

	 	 
	 	 	 	 
	Date:

	 	August 18, 2008
	 	Date:
	 	August 18, 2008

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