On January 12, 2017, Ophthotech Corporation and Samir C. Patel, M.D. entered into a Separation and release of claims agreement, pursuant to which Dr. Patel resigned from his employment with the company, as an officer of the company and as a member of the company’s board of directors, effective as of January 13, 2017. Dr. Patel previously served as the company’s President and Vice Chairman of the Board of Directors. The company and Dr. Patel also entered into a Consulting Agreement, effective as of January 13, 2017, pursuant to which Dr. Patel has agreed to provide consulting and advisory services, as directed by the Company’s Chief Executive Officer, in areas which may include, without limitation, biopharmaceutical research and development, business development, clinical development, clinical trial site selection, strategy, research, regulatory matters, recruitment, data analysis and medical affairs. On January 11, 2017, as part of the company’s previously announced planned reduction in personnel, the Board of Directors determined that Henric B. Bjarke, the company’s Chief Commercial Officer, will cease employment with the Company effective as of March 17, 2017.