SEC Contract Filing

Filing Date: 2018-11-09

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d635570dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Nonstatutory Stock Option </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Executive Officer Inducement Award </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.
Grant of Option. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This certificate evidences a nonstatutory stock option (this &#147;Stock Option&#148;) granted by EyePoint
Pharmaceuticals, Inc.,<I> </I>a Delaware corporation (the &#147;Company&#148;), on <B>May</B><B></B><B>&nbsp;14, 2018</B> (the &#147;Date of Grant&#148;) to<B>&nbsp;Leonard Blum</B> (the &#147;Participant&#148;). This Stock Option is granted to the
Participant in connection with his entering into employment with the Company and is regarded by the parties as an inducement material to the Participant&#146;s entering into employment within the meaning of Nasdaq Listing Rule 5635(c). Under this
Stock Option, the Participant may purchase, in whole or in part, on the terms herein provided, a total of <B>375,000</B> shares of common stock of the Company (the &#147;Shares&#148;) at <B>$1.95</B> per Share, which is not less than the fair market
value of a Share on the Date of Grant. The latest date on which this Stock Option, or any part thereof, may be exercised is 5:00 P.M. Eastern Time on May&nbsp;14, 2028 (the &#147;Final Exercise Date&#148;). The Stock Option evidenced by this
certificate is intended to be, and is hereby designated, a nonstatutory option, meaning an option that does <I>not</I> qualify as an incentive stock option as defined in section 422 of the Internal Revenue Code of 1986, as amended from time to time
(the &#147;Code&#148;). This Stock Option shall be subject to and governed by, and shall be construed and administered in accordance with, the terms and conditions of the Company&#146;s 2016 Long-Term Incentive Plan (as from time to time in effect,
the &#147;Plan&#148;), which terms and conditions are incorporated herein by reference. A copy of the Plan has been made available to the Participant. Notwithstanding the foregoing, this Stock Option is not awarded under the Plan and the grant of
this Stock Option shall not reduce the number of shares of Stock available for issuance under awards issued pursuant to the Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. Vesting. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>During Employment</U>. This Stock Option will vest and become exercisable with respect to one third (1/3) of the Shares on each of the
first, second and third anniversaries of the Grant Date; <U>provided that</U>, and subject to Section&nbsp;2(c) below, upon a cessation of the Participant&#146;s Employment by reason of an involuntary termination without Cause (as defined in the
Employment Agreement between the Company and the Participant dated May&nbsp;14, 2018 (&#147;Employment Agreement&#148;) (&#147;Cause&#148;)) or a voluntary termination for Good Cause (as defined in the Employment Agreement (&#147;Good Cause&#148;))
any unvested portion of this Stock Option that would have vested as of the first anniversary of the cessation of the Participant&#146;s Employment had the Participant continued in Employment through such first anniversary will vest immediately prior
to such cessation of Employment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-1- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Termination of Employment</U>. Notwithstanding the foregoing, and subject to
Section&nbsp;2(c) below, the following rules will apply if a Participant&#146;s Employment ceases regardless of the circumstances: automatically and immediately upon the cessation of Employment, this Stock Option will cease to be exercisable and
will terminate, except that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(I) such portion, if any, of this Stock Option as is held by the Participant immediately prior to the
cessation of the Participant&#146;s Employment for any reason other than for Cause or as a result of Participant&#146;s death and as is then exercisable (after giving effect to any accelerated vesting owing to a cessation of Employment by reason of
an involuntary termination without Cause or a voluntary termination for Good Cause pursuant to Section&nbsp;2(a) above), will remain exercisable until (i) 5:00 P.M. Eastern Time on the last day of the three-month period commencing on the date of
such cessation of Employment or (ii)&nbsp;the Final Exercise Date, if earlier, and will thereupon terminate; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(II) such portion, if any, of
this Stock Option as is held by the Participant immediately prior to the Participant&#146;s death and as is then exercisable, will remain exercisable until (i) 5:00 P.M. Eastern Time on the first anniversary of the Participant&#146;s death or
(