UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

  

Date of Report (Date of earliest event reported): January 22, 2018

 

PRESBIA PLC

(Exact Name of Registrant as Specified in Charter)

  

 

 

 

 

Ireland

(State or Other Jurisdiction

of Incorporation)

001-36824

(Commission

File Number)

98-1162329

(IRS Employer

Identification No.)

 

 

17 Corrig Road, Suite 7

Sandyford, Dublin 18 Ireland

(Address of Principal Executive Offices)(Zip Code)

 

+353 (1) 659 9446

Registrant's Telephone Number

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 



Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 22, 2018, Presbia PLC (the “Company”) and Vladimir Feingold entered into a consulting agreement by which Mr. Feingold agreed to provide consulting services to the Company and its subsidiaries through April 15, 2018 (the “Consulting Agreement”). 

The Consulting Agreement, provides for, among other things, (i) an initial three-month term, unless terminated in accordance with the provisions of the Consulting Agreement, (ii) a $25,000 monthly consulting fee of which $15,000 is payable in cash and $10,000 is payable in restricted stock unit awards for the services specified in the applicable schedule to the Consulting Agreement, and (iii) termination by the Company or Mr. Feingold upon fifteen days’ written notice.

The above description of the terms of the Consulting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which is filed as an exhibit to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit

10.1 Consulting Agreement effective as of January 15, 2018, by and between Presbia PLC and Vladimir Feingold.



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

PRESBIA PLC

 

 

 

 

 

 

 

By: /s/ Richard Fogarty

 

 

 

Name: Richard Fogarty

 

 

 

Title: Chief Accounting Officer

 

 

 

 

Dated: January 24, 2018

Exhibit 10.1

Presbia Consulting Agreement

T H IS CON S U L T ING A G R EE M E N T ( Agr e e me n t ) i s m a d e e f fe ct i v e a s o f J a nu a ry 1 5 , 2 01 8, b y a n d b e tw e e n PR E S B IB I O, LLC h e r e af t e r r efe r r e d to a s P r es b ia , a C a li f or n ia L i m ited Li ab ility C o mp a n y w ith a p ri n cip a l p lace o f bu s i n e s s a t 8845 I r v i n e C e n ter D r i v e , Suite 100, Ir v i n e , C A 9 2618 U SA, a n d Vla d i m ir F e i n gol d , h e r e after r e fe r r e d to a s Co n su lt an t”, a n i nd i v i du al h a v i n g an a dd r e s s a t Riedgutschstrasse 23, Wollerau, 8832, Switzerland.

1. C o n s u l t a nc y . Presbia hereby retains Consultant, and Consultant hereby accepts such retention, commencing as of the date of this Agreement and continuing for three months thereafter, unless earlier terminated in accordance with Sections 6 or 11 herein (the “Term”).

2. S e r v i c e s . C o n s u l t a n t s h a l l se r v e a s a co n s u lt an t to Pre s b i a a n d af f il i a t e s a n d p e r f o rm t h e S e r v ic e s se t f or t h in E x h i b i t A attached hereto o r a s otherwise reasonably requested b y Presbia and agreed by Consultant (the “Consulting Services”). Consultant shall b e available to perform the Consulting Services a t all reasonable times during the Term as may b e requested by Presbia.

3. C omp e n sat i o n . D u ri n g t h e Te rm, Pre s b ia s h all comp e n s a t i on Co n s u l t a n t f o r t h e C o n s u l t i n g S e r v ic e s in accor d a n ce w i t h t h e ter m s s e t f orth in E x h i b i t A , a t t ac h e d h e r e t o f o r se r v ic e s t h at are r e qu e s ted b y Pre s b ia in w riti n g ( em a il acc e p t ab l e ) an d a g r ee d to by Consultant (email acceptable).

4. E x p e n s e s. Pre s b ia w ill r e i m b u r s e Co n s u lt an t f or a n y a n d all r e aso n a b le e x p e n se s a p p r o ve d in a d v a n ce b y P r es b i a m a n age m e n t ( s p e c i f ically M a rk Yu n g) a n d in accor d a n ce w ith Pre sb i a ’s t ra ve l a n d e x pe n s e r e i mb u r sem e n t p oli c i es . Such e x p e n s e s s h a l l b e r e i mb u r se d u p on r e c e i p t o f s a t i sf ac t ory w rit t e n p r o of o f s u ch e x p e nd it u r e s .

It is Pre s b ia p o l i c y t h at all t r a ve l e x p e n se s m u s t b e a p p ro ve d in a d v a n ce f or Co n s u lt an t t ra ve l a n d t h at r e aso n a b l e e x p e n s e s be r e i mb u r se d f o r tr a ve l, lo d gi n g a n d me als o n ly w h e n Pre s b ia r e q u es ts t h at C o n s u l ta n t a t tend a mee ti n g o n b eh alf o f Pre s b ia t h at Co n s u l t a n t w o u ld n o t n o rma ll y a t tend o n h is o w n . Pre s b i a w ill n ot p ay t ra ve l co s ts f or a n y g u es ts u nd e r a n y cir c u ms t a n c es .

5. In v o i c e s . C o n s u l ta n t s h a l l s u bm it i n v oic e s to Pre s b ia b y t h e la s t bu s i n es s d ay o f e a ch m o n th du ri n g t h e Te rm se t ti n g f o r t h , in r e aso n a b le d e t a i l , t h e Co n s u l t i n g S e r v i c e s p e r f orm e d b y Co n s u lt an t du ri n g t h e m o n t h a n d all e x p e n se s f or wh i c h Co n s u lt an t is see ki n g r e i mb u r semen t, t o g e t h e r w ith s u p p o rt f or s u c h e x p e n s e s a s r e qu ir e d h e r e i n . Such i n v o ic e s s h all b e in t h e f orm a nn e x e d h e r e to as E x h i b i t C .

6. Ot h e r E n g a g e m e n t s . D u ri n g t h e Te rm, Co n s u lt an t m a y b e e n gag e d b y o n e or m ore t h i r d p arties to p e r f orm ot h e r s e r v i c es . Co n s u l t a n t m u s t d i s c lo s e to P r es b ia t h e n ame o f s u ch t h ird p ar t y a n d t h e n a tu re o f se r v ic e s to b e p e r f orm e d f or s u c h t h i r d p arty u nd e r a n y agre em e n ts t h at e xi s t a s of t h e d a t e of t h is Ag r e e me n t a n d s h a ll p r o m p t l y (no m ore t h an f i v e bu s i n es s d a y s a f ter s igni n g) n oti f y Pre s b i a o f a n y f u t u re s igned agre eme n ts a n d t h e ir ter m s . Co n s u l ta n t r e p r esen ts a n d w ar r a n ts to P r esb ia t h at C o ns u l t a n t is n o t c u r r en t l y a n d s h a l l n ot du ri n g t h e Te r m b e come a p arty t o a n y agre emen t w h i c h co u ld r e aso n a b ly b e co n s i d e r e d to co n f l ict w i t h Co n s u l t a n t’s du ties h e r e un de r. Co n s u l t a n t s h a l l u s e h is b es t eff o rts to se g r e g a te w ork d o n e un d e r t h is Agr eem e n t f r o m w or k p e r f o rm e d f or a n y t h ird p arty o r d o n e w ith g o v e r n me n t f u n d i n g, s o a s to m i n i m ize a n y qu es ti o n s o f d i s clo s u re o r o w n e r s h ip o f r i g h ts co n c e r n i n g a n y W o rk Pr odu ct o r C o n f i d e n ti a l I n f orma t io n . Pre s b i a m a y ter m i n a t e t h is A gr eeme n t i mme d ia t e ly i f , in its s ole o p i n io n , Co n s u l t a n t’s p e r f orma n ce o f s u ch w o r k o r e n g age men t b y a t h ird p arty m ay c o n f l ict w i th Pre sb ia’s i n ter es t s . Co n s u l t an t s h all n o t d i s c l o s e to P r es b i a a n y i n v e n ti o n s , tr ad e se cr e ts o r ot h e r i n f orm a ti o n o f t h ird p arties t h a t Co n su l t a n t d o e s n ot h a v e t h e un r es tricted rig h t to d i s clo s e a n d t h at Pre s b ia is n ot f r e e to u s e a n d d i s clo s e w it h o u t lia b ilit y .

 

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7. In v e n tio n s, Pat e n ts a n d T e c hn o l o g y . C o n s u l t an t sh all p r o m p tly a n d f u l l y d i s c lo s e to Pre s b i a a n y a n d all i n v e n ti o n s , improvements, discoveries, developments, original works o f authorship, trade secrets o r other intellectual property conceived, developed o r reduced to practice b y Consultant in connection with, o r a s a result of, the Consulting Services (the “Confidential Information”) and shall treat all such Information a s the proprietary property o f Presbia. Consultant agrees to assign, and does hereby assign, to Presbia and its successors and assigns, without further consideration, Consultant’s entire right, title and interest in and to the Information whether o r not patentable o r copyrightable. Consultant further agrees to execute all applications for patents, and/or copyrights, domestic o r foreign, assignments and other papers necessary to secure and enforce rights related to the Confidential Information. The parties acknowledge that all original works o f authorship which are made b y Consultant within the scope o f his Consulting Services and which are protectable b y copyright are “works made for hire,” a s the term i s defined in the United States Copyright Act (17USC Section 101).

8. C o n f i d e n tia l i ty . Co n s u l t a n t a g r e e s t h at h e sh all n ot u s e ( e xc e p t f or Pre s b ia s b e n ef i t) o r d i v u lge to a n y t h ird p art y , d u r i n g t h e Term o r thereafter, any o f Presbia’s trade secrets o r other proprietary data o r Confidential Information o f any kind whatsoever, which are acquired b y Consultant while operating under this Agreement. This obligation o f confidentiality shall not apply to information:

a. D es cri b e d , in its t o t a li t y , in a p a te n t o r ot h e r p ri n ted p u b l ic a t i on a t t h e time it w as com m un i c a ted b y Pre sb ia to C o n s u l ta n t o r b y C o n s u l t a n t to Pre s b i a , w h iche v e r is t h e ca s e .

b. In Consultant’s possession, in its totality, free of any obligation of confidence at the time it was communicated to Consultant.

c. B e came k n o w n to t h e pub lic, in its t o t a lit y , to Co n s u l t a n t b y a t h ird p arty f r e e o f a n y o b liga t ion o f co n f i d e n ce s ub seq u e n t to t h e time it w a s com m un icated b y Pre sb ia to C o n s u l t a n t o r b y Co n s u lt an t to Pre s b i a , wh ich e ve r is t h e c a se .

d. La wfu l l y com m unicated, in its totality, to C o n su l t a n t by a t h ird party f r e e of any o bli g a t i o n of c o n f id e nce su b seq u en t t o the time it w a s c o m m unicated by Pre s b i a to C on s ul ta nt or b y C o n s u l t an t to Pre s b i a, w hiche ve r is the cas e .

Co n s u l t a n t fu r t h e r agre e s t h at up on co m p l e t i o n o r ter m i n a t i on o f t h is Agr eem e n t , h e / s h e w ill t u rn o ve r to Pre sb ia a n y n o t e b o ok , d a t a, i n f or m a t i o n o r ot h e r m a t e rial ac qu ir e d o r p r ep ar e d b y C o n su l t a n t in carr y i n g o u t t h e ter m s o f t h is A g r eem e n t . H o weve r, Co n s u l t a n t m a y ke e p o n e co p y o f s u ch m a ter i al f or arc h i v al p u r p o ses .

9. Wa r r a n t i es a n d C o v e n a n t s . Co n s u lt an t r e p r esen ts a n d w arra n ts to Pre s b ia t h at h e h as f u l l p o we r a n d a u t h ority to e n ter i n to a n d p e r f o rm t h is Agr eeme n t w it h o u t co n f l ict w i t h a n y o t he r Agr e e me n ts to w h i c h Co n s u lt an t is a p art y , a n d c o ven a n ts t h at h e s h al l n ot en ter i n to a n y a g r eemen t, o r e n g age in a n y c o ndu ct, w h i ch c o n f li c ts w it h , o r p r even ts t h e p e r f orma n ce o f , Co n s u l t an t s du t i e s a n d o b liga t io n s h e r e u n d e r. Co n s u lt an t f u rt h e r r e p r ese n ts a n d w ar r a n ts t h at E x h i b i t B co n t ai n s a f u ll a n d acc u rate d es c ri p ti o n o f all agre emen t s , to w h i ch Co n s u l t an t is a p ar t y , r e q u ir i n g C o n s u l t an t to p e r f o rm co n s u lti n g o r o t h e r se r v i c e s s i m ilar to t h o s e to be p e r f o rm e d b y C o n s u l ta n t u n de r t h is Agr ee m e n t. Co n s u l t an t f u rt h e r co v e n a n ts t h at a t all tim e s du ri n g t h e Te rm h e s h all p e r f orm t h e Co n s u lti n g S e r v i c e s s trict l y in complia n ce w ith all a pp lica b le fe d e r a l , s t a te a n d loc a l l a w s a n d r e g u l a t i o n s .

10. No tic e . A n y n otice to Pre sb ia h e r e u n d e r sh all b e m a d e in w riti n g a t t h e a d d r es s se t f orth be low:

Presbia

8845 Irvine Center Drive

Suite 100

Irvine, CA 92618

FAX +1.323.832.8447

 

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A n y n otice to C o n s u l t a n t h e r e u n d e r s h a ll b e m a d e in w ri t i n g a t t h e a d d r es s se t f o r th a b o ve . N ot i c e s h e r e und e r s h all b e m ai l e d , p o s t age a n d fee s p r e p ai d , r e gi s te r e d o r c e r t i f i e d m a i l w i t h a r e t u rn r e c e i p t r eq u es t e d ; d e li ve r e d to a n a t i o n ally r e cog n ized car r i e r f o r n e xt b u s i n es s d ay d e li ve r y ; o r se n t b y tel e x f ac s i m ile tr an sm i ss ion w ith r e c e i p t s h o w i n g s u cc e s s f u l tr an s m i s s io n ; a n d in e ach c ase sh a l l b e d eeme d effe cti v e up on d e l i ve r y .

11. Te rm i n atio n . E it h e r p arty m a y ter m i n a t e t h is Agr ee m e n t w it h in its s o l e d i s cr e ti o n b y se nd i n g w r i t t e n n o tice o f te r m i n a t ion a t l e ast f i f te e n (15) d a y s p rior to t h e i n t e nd e d ter m i n a t ion to t h e ot h e r p art y . Such ter m i n a t ion s h a ll b e effe ct i v e in t h e m a nn e r a n d up on t h e d a t e s p e ci f i e d in t h e n otice a n d w it h o u t p r e j ud ice to a n y c l aims w h i c h o n e p arty m ay h a v e ag a i n s t t h e ot h e r. In t h e eve n t o f s u ch ter m i n a t io n , Pre sb ia s h all b e o b li g a t e d to r e i mb u r s e Co n s u l t an t f o r Co n s u lti n g S e r v i c e s ac tu ally p e r f orm e d b y Co n su l t a n t up to t h e effe c ti v e d a t e o f ter m i n a t io n . Te rm i n a ti o n s h a l l n ot r e li ev e C o n su l t a n t o f h is c o n ti nu i n g o b liga t io n s un d e r t h is Agr e e m e n t, p artic u larly t h e r eq u ir em e n ts o f p aragr aph s 7 a n d 8 l i s ted a b o v e a n d w h ich s h a l l su r v i v e t e rmi n a t ion o f t h is Ag r e e me n t.

12. M i s c e ll a n e o u s .

1 2 . 1 Not an E mp l o y e e . Co n s u lt an t is a n i n d e p en d en t co n tr a ct o r a n d is n ot a n em p lo ye e o r ag e n t o f Pre s b ia. C o n s u l ta n t s h a l l b e e n ti t l e d to n o b e n ef i t s or c o m p e n s a t ion f r o m Pr e sb ia e xc ep t a s se t f orth in t h is Agr eemen t a n d s h all in n o eve n t b e e n ti t l e d to a n y f r i n ge b e n ef its p a y a b l e to em p lo y ee s o f Pre s b ia. Co n s u l t a n t sh a l l b e s ol e l y r esp o n s i b le f or a n y t a x e s o r ot h e r s i m ilar c h arg e s r e l a t i n g to a n y co m p e n s a t i o n p aid to Co n s u l t a n t u n d e r t h is Agr eemen t.

1 2 . 2 N o n -A ss i g n a b l e . T h is Agr ee m e n t s h a ll b e n o n - as s ign ab le b y C o n su l t a n t u n l es s p rior w rit t e n co n s e n t o f Pre s b ia is r e c e i ve d . If t h is Agr e e me n t i s as s ig n e d o r ot h e r w i s e tr an s fe rre d , it s h all b e b i nd i n g o n all s u cc ess ors a n d as s igns.

1 2 . 3 S e v e r a b ili ty . If a n y p r o v i s ion o f t h is Ag r e e me n t i s d e e me d i n v ali d , all ot h e r p r o v i s io n s s h all r e m ain i n f u ll f orce a n d effect.

12.4 Breach. Each party hereto acknowledges, understands and agrees that a breach o f this Agreement will cause irreparable injury to the other, and that n o adequate o r complete remedy a t law is available to either party hereto for such breach. Accordingly, each party hereto agrees that the other shall b e entitled to enforcement o f this Agreement b y injunction, and hereby irrevocably waives any defense based on the adequacy of the remedy at law which might be asserted as a bar to said injunctive relief.

12.5 Entire Agreement . This Agreement constitutes the entire agreement between the parties. This Agreement sets forth all o f the covenants, promises, agreements, conditions and understandings between the parties and there are no covenants, promises, agreements o r conditions, either oral o r written, between them other than herein set forth. No subsequent alteration, amendment, change o r addition to this Agreement shall b e binding upon either party unless reduced in writing and signed b y them.

12.6 Applicable Law. This Agreement is entered into and executed in the State o f California and shall b e governed by the laws o f such State without regard to conflict o f laws rules. Both parties submit to personal jurisdiction in California and further agree that any cause o f action relating to this agreement shall b e brought exclusively i n a court i n Orange County, California.

12.7 Further Assurances. Each o f the parties shall, from time to time, and without charge to the other parties, take such additional actions and execute, deliver and file such additional instruments a s may b e reasonably required to give effect to the transactions contemplated b y this Agreement.

12.8 Press Releases . Presbia shall have the right to prepare and distribute press releases o r other communications announcing the existence o f this Agreement and the subject matter hereof and other relevant information concerning Consultant, provided that Consultant shall have a prior opportunity to review and comment on such press releases or other communications.

 

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12.9 Prior Agreements . This Agreement replaces and supersedes in its entirety the Agreement of the Independent Contractor Services Agreement dated as of January 2017, which was terminated by the Company effective December 31, 2017.

IN W I TN ES S W HE R E O F , t h e p a rties h a v e e x e c u ted t h is Ag r e e me n t a s o f t h e d a t e se t f orth a b o ve .

 

PRE S BIBIO, LLC

 

CO N SU L T A NT

 

 

 

/s/ Mark Yung

 

/s/ Vladimir Feingold

Signature

 

Signature

 

 

 

Mark Yung

 

Vladimir Feingold

Printed Name

 

Printed Name

 

 

 

CEO

 

Taxpayer ID: 611012103

Title

 

 

 

 

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P r e s b i a E x h i bit A

Du t i es , R esp o n s i b ili t i es , Hono r a ri u m Sc h ed u le

 

Activities:

Honorarium:

Period of Engagement:

Consulting Services (detailed below)

$15,000 p. month paid as defined below plus $10,000 p. month in
RSUs
(conversion price set at the end of the Term and RSUs to be delivered within a reasonable period of time following the termination of the Agreement.)

January 15, 2018 to April 15, 2018 (3 months)

 

Consu l t i ng S er vi c es s h a l l b e d e l i v ered f r om r e m ote l o c at i o n ( i .e. i t i s n ot n e c e ss a r y to be ph y s i c a ll y pre s e nt i n I r vi n e )

C l i n i c a l S u p p ort

I m p o r ta n t and t i m e s e n s i t iv e tas k s :

1.

iTrace section o f clinical study report (CSR) with analyses and conclusions. Deliverable b y Jan. 28, 2 0 1 8 .

2.

Rationale to be put into the executive summary supporting a submission with month 24 data and phase 1 month 36 data, not full cohort at month 36. Deliverable by Jan. 28, 2018.

Additional activities:

1.

Re v i e w C S R dra f t and l a b e l i n g / pro v i d e f e e d b a c k

2.

T e l e p h o ne a t te n d a n c e d ur i ng t e l e c o n f eren c e m e e t i n g s as n e e d ed w i th P M A team

3.

A tt e n d a n c e d uri n g F D A m e e t i n gs as n e e d e d

4.

S trat e g y and e x e c u t i on of FDA r e s p o n s es i f n e e d e d

Manufacturing Support

 

PMA Module 3 (Manufacturing) deficiencies support if necessary

 

o

Conference call with FDA

 

FDA QSIT Audit deficiencies support if necessary

 

Manufacturing process support if necessary

 

O pt i c al M e a s ure m e n t s y s t e m o p t i m i z at i on or i m p l e m e n ta t i on of ne w s y s tem ( Req u ir ed on l y i f th e r e i s a pro d u c t i on v o l u m e n e e d )

Regulatory Support

 

A d vi c e, as n e e d e d

Hono r a r i um Ca s h P a y m en t s

Presbia will pay within 3 days of the execution of Agreement $15,000 related to the first period of the Term of the Agreement, or 1/15/18 to 2/15/18. The second $15,000 payment related to the Term of the Agreement will be paid on 2/15/18 for the period of 2/15/18 to 3/15/18. The third payment of $15,000 related to the Term of the Agreement will be paid on 3/15/18 for the period 3/15/18 to 4/15/18.

 

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P r e s b i a E x h i bit B

Th i rd P a r t y A gr ee m e n t s

 

Parties

Date of Agreement

Type of Agreement

 

 

 

Capvis Equity Partners AG

26 June 2017

Consulting

 

 

 

LacriScience LLC

30 Oct 2017

Letter of Understanding

 

 

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