EYEGATE PHARMACEUTICALS, INC. (NASDAQ:EYEG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As previously reported, on December 19, 2016 (the Separation
Date), Ryan Brenneman ceased serving as the Chief Financial
Officer of EyeGate Pharmaceuticals, Inc. (the Company). On
December 21, 2016, the Company and Mr. Brenneman entered into a
Separation Agreement (the Separation Agreement) with an effective
date as of December 29, 2016. The Separation Agreement provides
that, among other things, if Mr. Brenneman does not revoke his
acceptance of the Separation Agreement within the applicable
seven-day revocation period, (a) Mr. Brenneman will receive his
base salary for a period of four months, and (b)the Company will
pay the full premium amount for COBRA continuation coverage for a
period of three months, subject to certain conditions. The
Separation Agreement also contains a general release in favor of
the Company.
The foregoing is a summary only and does not purport to be a
complete description of all of the terms, provisions, covenants
and agreements contained in the Separation Agreement, and is
subject to and qualified in its entirety by reference to the
complete text of the Separation Agreement, a copy of which is
attached hereto as Exhibit 10.1 and is incorporated by reference
herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
The Company hereby files the following exhibit:
| 10.1 |
Separation Agreement, dated as of December 21, 2016, between the Company and Ryan Brenneman. |
About EYEGATE PHARMACEUTICALS, INC. (NASDAQ:EYEG)
Eyegate Pharmaceuticals, Inc. is a clinical-stage specialty pharmaceutical company. The Company is focused on developing and commercializing therapeutics and drug delivery systems for treating diseases of the eye. The Company’s lead product, EGP-437, incorporates a reformulated topically active corticosteroid, dexamethasone phosphate, which is delivered into the ocular tissues through its drug delivery system, the EyeGate II Delivery System. The Company is developing EGP-437 for the treatment of various inflammatory conditions of the eye, including uveitis, a debilitating form of intraocular inflammation of the anterior portion of the uvea, such as the iris and/or ciliary body, and macular edema, an abnormal thickening of the macula associated with the accumulation of excess fluids in the extracellular space of the neurosensory retina. The EyeGate II Delivery System is designed to deliver optimal quantities of drugs to the anterior or posterior segments of the eye. EYEGATE PHARMACEUTICALS, INC. (NASDAQ:EYEG) Recent Trading Information
EYEGATE PHARMACEUTICALS, INC. (NASDAQ:EYEG) closed its last trading session up +0.01 at 1.70 with 43,040 shares trading hands.