Document:

Exhibit 10.40
​
OCULAR THERAPEUTIX, INC.
​
RESTRICTED STOCK UNIT AGREEMENT
Ocular Therapeutix, Inc. (the “Company”) hereby grants the following restricted stock units pursuant to its 2021 Stock Incentive Plan.  The terms and conditions attached hereto are also a part hereof.
​
Notice of Grant
​
	Name of recipient (the “Participant”):
	​

	Grant Date:
	​

	Number of restricted stock units (“RSUs”) granted:
	​

	Number, if any, of RSUs that vest immediately on the grant date:
	​

	RSUs that are subject to vesting schedule:
	​

	Vesting Start Date:
	​

​
​
Vesting Schedule:
​
	Vesting Date:
	Number of RSUs that Vest:

	​
	​

	​
	​

	All vesting is dependent on the Participant remaining an Eligible Participant, as provided herein.

​
​
This grant of RSUs satisfies in full all commitments that the Company has to the Participant with respect to the issuance of stock, stock options or other equity securities.
​
​
	​
	    
	Ocular Therapeutix, Inc.

	​
	​
	​

	Signature of Participant
	​
	​

	​
	​
	By: 
	​

	Street Address
	​
	​
	Name of Officer

	​
	​
	​
	Title:

	City/State/Zip Code
	​
	​

​
​
​

​
Ocular Therapeutix, Inc.
​
Restricted Stock Unit Agreement
Incorporated Terms and Conditions
​
1.Award of Restricted Stock Units. In consideration of services rendered and to be rendered to the Company, by the Participant, the Company has granted to the Participant, subject to the terms and conditions set forth in this Restricted Stock Unit Agreement (this “Agreement”) and in the Company’s 2021 Stock Incentive Plan (the “Plan”), an award with respect to the number of restricted stock units (the “RSUs”) set forth in the Notice of Grant that forms part of this Agreement (the “Notice of Grant”).  Each RSU represents the right to receive one share of common stock, $0.0001 par value per share, of the Company (the “Common Stock”) upon vesting of the RSU, subject to the terms and conditions set forth herein.
2.Vesting.  The RSUs shall vest in accordance with the Vesting Schedule set forth in the Notice of Grant (the “Vesting Schedule”).  Any fractional shares resulting from the application of any percentages used in the Vesting Schedule shall be rounded down to the nearest whole number of RSUs.  As soon as practicable after the vesting of the RSU, the Company will deliver to the Participant, for each RSU that becomes vested, one share of Common Stock, subject to the payment of any taxes pursuant to Section 7.  The Common Stock will be delivered to the Participant as soon as practicable following each vesting date, but in any event within 30 days of such date.
3.Forfeiture of Unvested RSUs Upon Cessation of Service.  In the event that the Participant ceases to be an Eligible Participant (as defined below) for any reason or no reason, with or without cause, all of the RSUs that are unvested as of the time of such cessation shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Participant, effective as of such cessation.  The Participant shall have no further rights with respect to the unvested RSUs or any Common Stock that may have been issuable with respect thereto.  The Participant shall be an “Eligible Participant” if the individual is an employee, director or officer of, or consultant or advisor to, the Company or any other entity the employees, officers, directors, consultants or advisors of which are eligible to receive awards of RSUs under the Plan.
4.Restrictions on Transfer.  The Participant shall not sell, assign, transfer, pledge, hypothecate, encumber or otherwise dispose of, by operation of law or otherwise (collectively “transfer”) any RSUs, or any interest therein. The Company shall not be required to treat as the owner of any RSUs or issue any Common Stock to any transferee to whom such RSUs have been transferred in violation of any of the provisions of this Agreement.
5.Rights as a Stockholder.  The Participant shall have no rights as a stockholder of the Company with respect to any shares of Common Stock that may be issuable with respect to the RSUs until the issuance of the shares of Common Stock to the Participant following the vesting of the RSUs.
6.Provisions of the Plan.  This Agreement is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this Agreement.
​

​
7.Tax Matters.
(a)Acknowledgments; No Section 83(b) Election.  The Participant acknowledges that he or she is responsible for obtaining the advice of the Participant’s own tax advisors with respect to the award of RSUs and the Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents with respect to the tax consequences relating to the RSUs.  The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s tax liability that may arise in connection with the acquisition, vesting and/or disposition of the RSUs.  The Participant acknowledges that no election under Section 83(b) of the Internal Revenue Code of 1986, as amended, (the “Code”) is available with respect to RSUs.
(b)Withholding.  The Participant acknowledges and agrees that the Company has the right to deduct from payments of any kind otherwise due to the Participant any federal, state, local or other taxes of any kind required by law to be withheld with respect to the vesting of the RSUs. At such time as the Participant is not aware of any material nonpublic information about the Company or the Common Stock and the Participant is not subject to any restriction on trading activities with respect to the Common Stock pursuant to any Company insider trading or other policy, the Participant shall execute the instructions set forth in Schedule A attached hereto (the “Durable Automatic Sale Instructions”) as the means of satisfying such tax obligation, unless the Participant has already executed such Durable Automatic Sale Instructions and the Company has such instructions on file.  If the Participant has not executed the Durable Automatic Sale Instructions prior to an applicable vesting date, then the Participant agrees that if under applicable law the Participant will owe taxes at such vesting date on the portion of the award then vested the Company shall be entitled to immediate payment from the Participant of the amount of any tax required to be withheld by the Company.  The Company shall not deliver any shares of Common Stock to the Participant until it is satisfied that all required withholdings have been made.
8.Miscellaneous.
(a)Section 409A.  The RSUs awarded pursuant to this Agreement are intended to be exempt from or comply with the requirements of Section 409A of the Code and the Treasury Regulations issued thereunder (“Section 409A”).  The delivery of shares of Common Stock on the vesting of the RSUs may not be accelerated or deferred unless permitted or required by Section 409A.
(b)Participant’s Acknowledgements.  The Participant acknowledges that he or she:  (i) has read this Agreement; (ii) has been represented in the preparation, negotiation and execution of this Agreement by legal counsel of the Participant’s own choice or has voluntarily declined to seek such counsel; (iii) understands the terms and consequences of this Agreement; (iv) is fully aware of the legal and binding effect of this Agreement; and (v) agrees that in accepting this award, the Participant will be bound by any clawback policy that the Company may adopt in the future.
​
​

​
Schedule A
​
DURABLE AUTOMATIC SALE INSTRUCTION
​
This Durable Automatic Sale Instruction is being delivered to Ocular Therapeutix, Inc. (the “Company”) by the undersigned on the date set forth below.
​
I hereby acknowledge that the Company has granted, or may in the future from time to time grant, to me restricted stock units (“RSUs”) under the Company’s equity incentive plans as in effect from time to time.
​
I acknowledge that upon the vesting dates applicable to any such RSUs, I will have compensation income equal to the fair market value of the shares of the Company’s common stock subject to the RSU that vest on such date and that the Company is required to withhold income and employment taxes in respect of that compensation income on the applicable vesting date.
​
I desire to establish a process to satisfy such withholding obligation in respect of all RSUs that have been, or may in the future be, granted by the Company to me through an automatic sale of a portion of the shares of the Company’s common stock that would otherwise be issued to me on each applicable vesting date, such portion to be in an amount sufficient to satisfy such withholding obligation, with the proceeds of such sale delivered to the Company in satisfaction of such withholding obligation.
​
I understand that the Company has arranged for the administration and execution of its equity incentive plans and the sale of securities by plan participants thereunder pursuant to an Internet-based platform administered by a third party (the “Administrator”) and the Administrator’s designated brokerage partner.
Upon any vesting of my RSUs from and after the date of this Durable Automatic Sale Instruction, I hereby appoint the Administrator (or any successor administrator) to automatically sell such number of shares of the Company’s common stock issuable with respect to my RSUs that vest as is sufficient to generate net proceeds sufficient to satisfy the Company’s minimum statutory withholding obligations with respect to the income recognized by me upon the vesting of the RSUs (based on minimum statutory withholding rates for all tax purposes, including payroll and social security taxes, that are applicable to such income), and the Company shall receive such net proceeds in satisfaction of such tax withholding obligation.
I hereby appoint the Chief Executive Officer, the Chief Financial Officer and the Corporate Counsel, and any of them acting alone and with full power of substitution, to serve as my attorneys in fact to arrange for the sale of shares of common stock in accordance with these durable automatic sale instructions.  I agree to execute and deliver such documents, instruments and certificates as may reasonably be required in connection with the sale of the shares of common stock pursuant to these durable automatic sale instructions.
​
By signing below, I hereby represent to the Company that, as of the date hereof, I am not aware of any material nonpublic information about the Company or its common stock and that I am not prohibited from entering into these durable automatic sale instructions by the Company’s insider trading policy or otherwise.  I have structured these automatic sale instructions to constitute a “binding contract” relating to the sale of common stock, consistent with the affirmative defense to liability under Section 10(b) of the Securities Exchange Act of 1934 under Rule 10b5-1(c) promulgated under such Act.
​
​

​
	​
	​

	​
	​

	​
	Print Name:
	​

	​
	​
	​

	​
	Date:
	​

​Exhibit 10.41
​
AMENDMENT NO. 1 TO LICENSE AGREEMENT
​
This Amendment No. 1 to License Agreement (this “Amendment”) by and between Ocular Therapeutix, Inc., a corporation organized and existing under the laws of Delaware with a principal place of business at 24 Crosby Drive, Bedford, MA 01730 (‘Ocular”), and Affamed Therapeutics (HK) Limited, a corporation duly organized and existing under the laws of Hong Kong, with a principal place of business at Room 3306-3307, Two Exchange Square, 8 Connaught, Hong Kong (“AffaMed”), is made and entered into as of October 28, 2021 (the “Amendment Effective Date”).
​
WHEREAS, Ocular and Affamed Therapeutics Limited entered into a License Agreement dated as of October 28, 2020 (the “License Agreement”);
​
WHEREAS, Affamed is the wholly owned subsidiary of Affamed Therapeutics Limited, which assigned the License Agreement to Affamed on August 3, 2021 in accordance with Section 16.01(a) of the License Agreement.
​
WHEREAS, Ocular and Affamed desire to amend the License Agreement to modify the responsibilities of the Parties with respect to Regulatory Filings and certain other matters;
​
NOW THEREFORE, the Parties agree as follows:
​
1.All terms used in this Amendment and not defined shall have the meanings ascribed to them in the License Agreement.
​
2.Section 2.03 is amended to read in its entirety as follows:
​
“No Other Rights and Retained Rights. Nothing in this Agreement shall be interpreted to grant a Party any rights or right of reference under any Patent Rights or Know-How Controlled by the other Party that are not expressly granted herein, whether by implication, estoppel or otherwise, and, notwithstanding the foregoing provisions of Section 2.01, except as expressly set forth in this Agreement, neither Party grants any right or license in this Agreement to the other Party to any data, rights to make Regulatory Filings or any right or license under Patent Rights or Know-How Controlled by the first Party with respect to APIs or drug products other than the Licensed Product. Any rights not expressly granted to a Party by the other Party under this Agreement are hereby retained by such other Party.”
​
3.Section 4.01(d) is amended to read in its entirety as follows:
​
“(d) To the extent supported by clinical results, unless otherwise agreed by the Parties, Licensee shall file for, and endeavor to obtain or cause to be obtained, Regulatory Approval for the Licensed Products in each Jurisdiction in the Territory, including by providing all necessary resources required to seek and maintain Regulatory Approval for the Licensed Products in each Jurisdiction in the Territory. All Regulatory Filings will be made by Licensee acting as Ocular’s agent, with Ocular listed as Sponsor and/or Marketing Authorization Holder and shall be subject to Ocular’s approval to the same extent as set forth in Section 5.01(a). In addition, Licensee
​

shall keep Ocular informed of all communications with Regulatory Authorities and provide copies of all communications and of all meetings intended to be held with such Regulatory Authorities with an opportunity to attend to the same extent as set forth in Section 5.01(a).”
​
3.Section 5.01 (a) is amended to read in its entirety as follows:
​
“(a) Subject to Section 4.01(a) and Section 5.01(b), Licensee shall have the responsibility to prepare, obtain, and maintain all Regulatory Filings, Licensed Product labeling and Regulatory Approvals, and to conduct communications with the Regulatory Authorities in the Territory, for the Development of Licensed Products in the Field in the Territory undertaken by Ocular and for the Commercialization of Licensed Products in the Field in the Territory undertaken by Licensee. Licensee shall be responsible for all of its costs and expenses incurred in connection with the foregoing and shall reimburse Ocular for its documented out of pocket costs (including expenses and costs associated with internal resources) at a rate of $200 per full time equivalent hour. Such rate will be adjusted on each annual anniversary of the date of this Amendment based on the percentage increase or decrease, if any, in the applicable CPI (determined based on the location of the applicable personnel) since the later of the date of this Amendment and the date of the latest adjustment date hereunder, through June 30 of the prior calendar year. For the avoidance of doubt, the Parties intend that the forgoing rate shall apply to any assistance or cooperation provided by Ocular in connection with the foregoing other than any assistance or cooperation for which the Parties have expressly agreed in writing to a cost allocation. All Regulatory Filings and Licensed Product labeling prepared by Licensee shall be delivered to Ocular (together with an English translation prepared at the expense of Licensee) no later than seven (7) Business Days prior to the date Licensee intends to submit them to a Regulatory Authority in the Territory and shall be subject to Ocular’s review and approval prior to such submission. All Regulatory Filings will be made by Licensee acting as Ocular’s agent, with Ocular listed as Sponsor and/or Marketing Authorization Holder. All material included in Regulatory Filings shall be considered Confidential Information of Ocular. Licensee shall provide copies of any communications received from Regulatory Authorities in the Territory relating to any Regulatory Filing or the Licensed Product (together with an English translation prepared at the expense of Licensee). Any Regulatory Authority communications that result in product deficiencies, or inquiries and require a response to the Regulatory Authority shall be provided to Ocular immediately, and such responses shall be reviewed and approved by Ocular prior to submission; provided that, if Ocular does not provide approval to Licensee within the timeline for response required by the Regulatory Authority, Licensee shall consider in good faith any comments received from Ocular with respect thereto and shall have the right to submit such responses within such timeline. In addition, Licensee shall inform Ocular of all meetings intended to be held with Regulatory Authorities in the Territory and provide Ocular the opportunity to attend any such meeting together with an interpreter at Ocular’s expense. For purposes of this Section 5.01(a), CPI means (a) for personnel located in the United States, the Consumer Price Index-All Urban Consumers published by the United States Department of Labor, Bureau of Statistics (or its successor equivalent index), or (b) for personnel located in any other country, the applicable equivalent index published in such foreign country applicable to personnel in such country.”
​
4.Section 5.01(c) is amended to read in its entirety as follows:
​

2

​
“(c) Within five (5) Business Days following the end of each Calendar Quarter, Ocular shall invoice Licensee for the amounts reimbursable to Ocular set forth in Section 5.01(a). Licensee shall pay all amounts payable under such invoice within thirty (30) days after the end of each Calendar Quarter.”
​
5.Except as modified hereby, each of the terms and provisions of the License Agreement shall remain in full force and effect.
​
6.This Amendment may be executed in counterparts, all of which taken together shall be regarded as one and the same instrument.
​
​

3

​
IN WITNESS WHEROF, the Parties have executed this Amendment through their duly authorized representatives to be effective as of the Amendment Effective Date.
​
​
	OCULAR THERAPEUTIX, INC.
	​

	​
	​

	​
	​

	By: 
	/s/Antony Mattessich
	​

	Name: Antony Mattessich
	​

	Title: President and Chief Executive Officer
	​

	​
	​

	​
	​

	AFFAMED THERAPEUTICS (HK) LIMITED
	​

	​
	​

	​
	​

	By: 
	/s/ Dayao Zhao
	​

	Name: Dayao Zhao
	​

	Title: Director and Chief Executive Officer
	​

​

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00341-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00341-of-00352.parquet"}]]