Pursue FDA Approval for Iluvien. In December 2009 we received the month 24 clinical readout from our FAME Study. Based upon our analysis of this data, we plan to file an NDA in the United States for the low dose of Iluvien in the second quarter of 2010, followed by registration filings in certain European countries and Canada

EX-10.22 13 g20643a1exv10w22.htm EX-10.22 exv10w22

Exhibit 10.22

ALIMERA SCIENCES, INC.

2005 INCENTIVE STOCK PLAN

INCENTIVE STOCK OPTION

OPTION CERTIFICATE

Alimera Sciences, Inc., a Delaware corporation (“Alimera”), in accordance with the Alimera Sciences, Inc. 2005 Incentive Stock Plan (the “Plan”), hereby grants an Option to Susan Caballa, who shall be referred to as “Employee”, to purchase from Alimera 150,000 (One Hundred Fifty Thousand) shares of Stock at an Option Price per share equal to $.39 which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made as of January 1, 2006, which shall be referred to as the “Grant Date”. This Option is intended to satisfy the requirements of § 422 of the Code and thus is intended to be an ISO as that term is defined in the Plan.


	ALIMERA SCIENCES, INC.


	By:	/s/ Richard Eiswirth, Jr.



Acknowledged:	EMPLOYEE:


	/s/ Susan H. Caballa

		[Signature]


	Date:	3 February 2006

TERMS AND CONDITIONS

§ 1. Plan. This Option grant is subject to all the terms and conditions set forth in the Plan and this Option Certificate, and all the terms in this Option certificate which begin with a capital letter are either defined in this Option Certificate or in the Plan. If a determination is made that any term or condition set forth in this Option Certificate is inconsistent with the Plan, the Plan shall control. A copy of the Plan will be made available to Employee upon written request to the Chief Financial Officer of Alimera.

§ 2. Vesting and Option Expiration.

(a)

General Rule. Subject to § 2(b) and § 2(c), Employee’s right under this Option Certificate to exercise this Option shall vest with respect to:

	(1)		¹/4 of the shares of Stock which are subject to this Option on 11/22/2006, the Initial Vesting Date, provided Employee remains continuously employed by Alimera through the Initial Vesting Date; and

	(2)		³/4 of the shares of Stock which are subject to this Option in equal increments quarterly over three years beginning on the date three (3) months from the initial vesting date provided he or she remains continuously employed by Alimera through the last day of each quarterly period.

(b)

Option Expiration Rules.

	(1)		Non-Vested Shares. If Employee’s employment with Alimera terminates for any reason whatsoever, including death, disability (as determined by the committee) or retirement, while thee are any non-vested shares of Stock subject to this Option under § 2(a), then immediately upon such termination of employment this Option shall expire and shall have no further force or effect and be null and void with respect to such non-vested shares of Stock.

	(2)		Vested Shares. Employee’s right to exercise all or any part of this Option which has vested under § 2(a) shall expire no later than the tenth anniversary of the Grant Date. However, if Employee’s employment with Alimera terminates before the tenth anniversary of the Grant Date, Employee’s right to exercise any part of this Option which has vested under § 2(a) shall expire and shall have no further force or effect and shall be null and void at the end of the ninety (90) day period which starts on the date his or her employment terminates.

(c)

Special Rules.

	(1)		Change in Control. If there is a Change in Control of Alimera, this Option shall be subject to the provisions of § 14 of the Plan with respect to such Change in Control.

	(2)		Affiliates. For purposes of this Option Certificate, any reference to Alimera shall include any Affiliate, Parent or Subsidiary or Alimera, and a transfer of employment between Alimera and any Affiliate, Parent or Subsidiary of Alimera or between any Affiliate, Parent or Subsidiary of Alimera shall not be treated as a termination of employment under the Plan or this Option Certificate.

	(3)		Fractional Shares. Employee’s right to exercise this Option shall not

include a right to exercise this Option to purchase a fractional share of Stock. If Employee exercises this Option on any date when this Option includes a fractional share of Stock, his or her exercise right shall be rounded down to the nearest whole share of Stock and the fractional share shall be carried forward until that fractional share together with any other fractional shares can be combined to equal a whole share of Stock or this Option expires.

§ 3. Method of Exercise of Option. Employee may exercise this Option in whole or in part (to the extent this Option is otherwise exercisable under § 2 with respect to vested shares of Stock) only in accordance with the rules and procedures established from time to time by Alimera for the exercise of an Option. The Option Price shall be paid at exercise either in cash, by check acceptable to Alimera or through any cashless exercise/resale procedure which is implemented by a broker unrelated to Alimera through a sale of Stock in the open market and which is acceptable to the Committee, or in any combination of those forms of payment.

§ 4. Delivery and Other Laws. Alimera shall deliver appropriate and proper evidence of ownership of any Stock purchased pursuant to the exercise of this Option as soon as practicable after such exercise to the extent such delivery is then permissible under applicable law or rule or regulation, and such delivery discharge Alimera of all of its duties and responsibilities with respect to this Option.

§ 5. Nontransferable. Except as expressly authorized by the Committee, no rights granted under this Option shall be transferable by Employee other than by will or by the laws of descent and distribution, and the rights granted under this Option shall be exercisable during Employee’s lifetime only by Employee. The person or persons, if any, to whom this Option is transferred by will or by the laws of descent and distribution shall be treated after Employee’s death the same as Employee under this Option Certificate.

§ 6. No Right to Continue Service. Neither the Plan, this Option, nor any related material shall give Employee the right to continue in employment by Alimera or shall adversely affect the right of Alimera to terminate Employee’s employment with our without cause (as determined by the Committee) at any time.

§ 7. Stockholder Status. Employee shall have no rights as a stockholder with respect to any shares of Stock under this Option until such shares have been duly issued and delivered to Employee, and no adjustment shall be made for dividends of any kind or description whatsoever or for distributions of rights of any kind or description whatsoever respecting such Stock except as expressly set forth in the Plan.

§ 8. Governing Law. The Plan and this Option shall be governed by the laws of the State of Delaware.

§ 9. Binding Effect. This Option shall be binding upon Alimera and Employee and their respective heirs, executors, administrators and successors.

§ 10. Tax Withholding. This Option has been granted subject to the condition that Employee consents to whatever action the Committee directs to satisfy the minimum statutory federal and state withholding requirements, if any, which Alimera determines are applicable upon the exercise of this Option.

§ 11. References. Arty references to sections (§) in this Option Certificate shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such reference.

ALIMERA SCIENCES, INC.

2005 INCENTIVE STOCK PLAN

INCENTIVE STOCK OPTION

OPTION CERTIFICATE

Alimera Sciences, Inc., a Delaware corporation (“Alimera”), in accordance with the Alimera Sciences, Inc. 2005 Incentive Stock Plan (the “Plan”), hereby grants an Option to Susan Caballa who shall be referred to as “Employee”, to purchase from Alimera One Hundred Fifty Thousand (150,000) shares of Stock at an Option Price per share equal to $.39 which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made as of October 12, 2006, which shall be referred to as the “Grant Date”. This Option is intended to satisfy the requirements of § 422 of the Code and thus is intended to be an ISO as that term is defined in the Plan.


	ALIMERA SCIENCES, INC.


	By:	/s/ Richard Eiswirth, Jr.



Acknowledged:	EMPLOYEE:


	/s/ Susan H. Caballa

		[Signature]


	Date:	01/18/07

TERMS AND CONDITIONS

§ 2. Vesting and Option Expiration.

(a)

General Rule. Subject to § 2(b) and § 2(c), Employee’s right under this Option Certificate to exercise this Option shall vest with respect to:

	(1)		¹/4 of the shares of Stock which are subject to this Option on 11/22/2006, the Initial Vesting Date, provided Employee remains continuously employed by Alimera through the Initial Vesting Date; and

	(2)		³/4 of the shares of Stock which are subject to this Option in equal increments quarterly over three years beginning on the date three (3) months from the initial vesting date provided he or she remains continuously employed by Alimera through the last day of each quarterly period.

(b)

Option Expiration Rules.

	(1)		Non-Vested Shares. If Employee’s employment with Alimera terminates for any reason whatsoever, including death, disability (as determined by the committee) or retirement, while thee are any non-vested shares of Stock subject to this Option under § 2(a), then immediately upon such termination of employment this Option shall expire and shall have no further force or effect and be null and void with respect to such non-vested shares of Stock.

	(2)		Vested Shares. Employee’s right to exercise all or any part of this Option which has vested under § 2(a) shall expire no later than the tenth anniversary of the Grant Date. However, if Employee’s employment with Alimera terminates before the tenth anniversary of the Grant Date, Employee’s right to exercise any part of this Option which has vested under § 2(a) shall expire and shall have no further force or effect and shall be null and void at the end of the ninety (90) day period which starts on the date his or her employment terminates.

(c)

Special Rules.

	(1)		Change in Control. If there is a Change in Control of Alimera, this Option shall be subject to the provisions of § 14 of the Plan with respect to such Change in Control.

	(2)		Affiliates. For purposes of this Option Certificate, any reference to Alimera shall include any Affiliate, Parent or Subsidiary or Alimera, and a transfer of employment between Alimera and any Affiliate, Parent or Subsidiary of Alimera or between any Affiliate, Parent or Subsidiary of Alimera shall not be treated as a termination of employment under the Plan or this Option Certificate,

	(3)		Fractional Shares. Employee’s right to exercise this Option shall not

§3. Method of Exercise of Option. Employee may exercise this Option in whole or in part (to the extent this Option is otherwise exercisable under § 2 with respect to vested shares of Stock) only in accordance with the rules and procedures established from time to time by Alimera for the exercise of an Option. The Option Price shall be paid at exercise either in cash, by check acceptable to Alimera or through any cashless exercise/resale procedure which is implemented by a broker unrelated to Alimera through a sale of Stock in the open market and which is acceptable to the Committee, or in any combination of those forms of payment.

§ 8. Governing Law. The Plan and this Option shall be governed by the laws of the State of Delaware.

§ 9. Binding Effect. This Option shall be binding upon Alimera and Employee and their respective heirs, executors, administrators and successors.

§ 11. References. Any references to sections (§) in this Option Certificate shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such reference.

ALIMERA SCIENCES, INC.

2005 INCENTIVE STOCK PLAN

INCENTIVE STOCK OPTION

OPTION CERTIFICATE

Alimera Sciences, Inc., a Delaware corporation (“Alimera”), in accordance with the Alimera Sciences, Inc. 2005 Incentive Stock Plan (the “Plan”), hereby grants an Option to Susan Caballa who shall be referred to as “Employee”, to purchase from Alimera One Hundred Fifty Seven Thousand Five Hundred Seventy Nine (157,579) shares of Stock at an Option Price per share equal to $.71 which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made as of March 20, 2008 which shall be referred to as the “Grant Date”. This Option is intended to satisfy the requirements of § 422 of the Code and thus is intended to be an ISO as that term is defined in the Plan.


	ALIMERA SCIENCES, INC.


	By:	/s/ Richard Eiswirth, Jr.



Acknowledged:	EMPLOYEE:


	/s/ Susan H. Caballa

		[Signature]


	Date:	31 March 2008

TERMS AND CONDITIONS

§ 2. Vesting and Option Expiration.

(a)

General Rule. Subject to § 2(b) and § 2(c), Employee’s right under this Option Certificate to exercise this Option shall vest with respect to:

	(1)		¹/4 of the shares of Stock which are subject to this Option on March 20 2009, the Initial Vesting Date, provided Employee remains continuously employed by Alimera through the Initial Vesting Date; and

	(2)		³/4 of the shares of Stock which are subject to this Option in equal increments quarterly over three years beginning on the date three (3) months from the initial vesting date provided he or she remains continuously employed by Alimera through the last day of each quarterly period.

(b)

Option Expiration Rules.

	(1)		Non-Vested Shares. If Employee’s employment with Alimera terminates for any reason whatsoever, including death, disability (as determined by the committee) or retirement, while thee are any non-vested shares of Stock subject to this Option under § 2(a), then immediately upon such termination of employment this Option shall expire and shall have no further force or effect and be null and void with respect to such non-vested shares of Stock.

	(2)		Vested Shares. Employee’s right to exercise all or any part of this Option which has vested under § 2(a) shall expire no later than the tenth anniversary of the Grant Date. However, if Employee’s employment with Alimera terminates before the tenth anniversary of the Grant Date, Employee’s right to exercise any part of this Option which has vested under § 2(a) shall expire and shall have no further force or effect and shall be null and void at the end of the ninety (90) day period which starts on the date his or her employment terminates.

(c)

Special Rules.

	(1)		Change in Control. If there is a Change in Control of Alimera, this Option shall be subject to the provisions of § 14 of the Plan with respect to such Change in Control.

	(2)		Affiliates. For purposes of this Option Certificate, any reference to Alimera shall include any Affiliate, Parent or Subsidiary or Alimera, and a transfer of employment between Alimera and any Affiliate, Parent or Subsidiary of Alimera or between any Affiliate, Parent or Subsidiary of Alimera shall not be treated as a termination of employment under the Plan or this Option Certificate.

(3)

Fractional Shares. Employee’s right to exercise this Option shall not include a right to exercise this Option to purchase a fractional share of Stock. If Employee exercises this Option on any date when this Option includes a fractional share of Stock, his or her exercise right shall be rounded down to the nearest whole share of Stock and the fractional share shall be carried forward until that fractional share together with any other fractional shares can be combined to equal a whole share of Stock or this Option expires.

§ 8. Governing Law. The Plan and this Option shall be governed by the laws of the State of Delaware.

§ 9. Binding Effect. This Option shall be binding upon Alimera and Employee and their respective heirs, executors, administrators and successors.

ALIMERA SCIENCES, INC.

2004 INCENTIVE STOCK PLAN

INCENTIVE STOCK OPTION

OPTION CERTIFICATE

Alimera Sciences, Inc., a Delaware corporation (“Alimera”), in accordance with the Alimera Sciences, Inc. 2004 Incentive Stock Plan (the “Plan”), hereby grants an Option to Susan Caballa, who shall be referred to as “Employee”, to purchase from Alimera 30,367 shares of Stock at an Option Price per share equal to $0.60, which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made as of July 7, 2004, which shall be referred to as the “Grant Date”. This Option is intended to satisfy the requirements of § 422 of the Code and thus is intended to be an ISO as that term is defined in the Plan.


	ALIMERA SCIENCES, INC.


	By:	/s/ Daniel H. White

	Daniel H. White
	Vice President Finance and Business Development


Acknowledged:	EMPLOYEE:


	/s/ Susan H. Caballa

		[Signature]


	Date:	Sept. 22, 2004

TERMS AND CONDITIONS

§ 1. Plan. This Option grant is subject to all the terms and conditions set forth in the Plan and this Option Certificate, and all the terms in this Option Certificate which begin with a capital letter are either defined in this Option Certificate or in the Plan. If a determination

is made that any term or condition set forth in this Option Certificate is inconsistent with the Plan, the Plan shall control. A copy of the Plan will be made available to Employee upon written request to the Chief Financial Officer of Alimera.

§ 2. Vesting and Option Expiration.

(a)

General Rule. Subject to § 2(b) and § 2(c), Employee’s right under this Option Certificate to exercise this Option shall vest with respect to:

	(1)		¹/4 of the shares of Stock which are subject to this Option on the first anniversary of the Grant Date, provided Employee remains continuously employed by Alimera through the first anniversary of the Grant Date; and

	(2)		¹/12 of the shares of Stock which remain subject to this Option, and which do not vest on the first anniversary of the Grant Date, on the last day of each calendar quarter in the twelve calendar quarter period which starts on or after the first anniversary of the Grant Date, provided he or she remains continuously employed by Alimera through the last day of such calendar quarter.

(b)

Option Expiration Rules.

	(1)		Non-Vested Shares. If Employee’s employment with Alimera terminates for any reason whatsoever, including death, disability (as determined by the Committee) or retirement, while there are any non-vested shares of Stock subject to this Option under § 2(a), then immediately upon such termination of employment this Option shall expire and shall have no further force or effect and be null and void with respect to such non-vested shares of Stock.

	(2)		Vested Shares. Employee’s right to exercise all or any part of this Option which has vested under § 2(a) shall expire no later than the tenth anniversary of the Grant Date. However, if Employee’s employment with Alimera terminates before the tenth anniversary of the Grant Date, Employee’s right to exercise any part of this Option which has vested under § 2(a) shall expire and shall have no further force or effect and shall be null and void at the end of the ninety (90) day period which starts on the date his or her employment terminates.

-2-

(c)

Special Rules.

	(1)		Change in Control. If there is a Change in Control of Alimera, this Option shall be subject to the provisions of § 14 of the Plan with respect to such Change in Control.

	(2)		Affiliates. For purposes of this Option Certificate, any reference to Alimera shall include any Affiliate, Parent or Subsidiary of Alimera, and a transfer of employment between Alimera and any Affiliate, Parent or Subsidiary of Alimera or between any Affiliate, Parent or Subsidiary of Alimera shall not be treated as a termination of employment under the Plan or this Option Certificate.

	(3)		Fractional Shares. Employee’s right to exercise this Option shall not include a right to exercise this Option to purchase a fractional share of Stock. If Employee exercises this Option on any date when this Option includes a fractional share of Stock, his or her exercise right shall be rounded down to the nearest whole share of Stock and the fractional share shall be carried forward until that fractional share together with any other fractional shares can be combined to equal a whole share of Stock or this Option expires

§ 4. Delivery and Other Laws. Alimera shall deliver appropriate and proper evidence of ownership of any Stock purchased pursuant to the exercise of this Option as soon as practicable after such exercise to the extent such delivery is then permissible under applicable law or rule or regulation, and such delivery shall discharge Alimera of all of its duties and responsibilities with respect to this Option.

-3-

Option is transferred by will or by the laws of descent and distribution shall be treated after Employee’s death the same as Employee under this Option Certificate.

§ 6. No Right to Continue Service. Neither the Plan, this Option, nor any related material shall give Employee the right to continue in employment by Alimera or shall adversely affect the right of Alimera to terminate Employee’s employment with or without cause (as determined by the Committee) at any time.

§ 8. Governing Law. The Plan and this Option shall be governed by the laws of the State of Delaware.

§ 9. Binding Effect. This Option shall be binding upon Alimera and Employee and their respective heirs, executors, administrators and successors.

§ 11. References. Any references to sections (§) in this Option Certificate shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such reference.

-4-

ALIMERA SCIENCES, INC.

2005 INCENTIVE STOCK PLAN

INCENTIVE STOCK OPTION

OPTION CERTIFICATE

Alimera Sciences, Inc., a Delaware corporation (“Alimera”), in accordance with the Alimera Sciences, Inc. 2005 Incentive Stock Plan (the “Plan”), hereby grants an Option to Susan Caballa who shall be referred to as “Employee”, to purchase from Alimera Twelve Thousand Five Hundred and Eighteen (12,518) shares of Stock at an Option Price per share equal to $.41 which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made as of December 13, 2007 which shall be referred to as the “Grant Date”. This Option is intended to satisfy the requirements of § 422 of the Code and thus is intended to be an ISO as that term is defined in the Plan.


	ALIMERA SCIENCES, INC.


	By:	/s/ Richard Eiswirth, Jr.



Acknowledged:	EMPLOYEE:


	/s/ Susan H. Caballa

		[Signature]


	Date:	18 January 2008

TERMS AND CONDITIONS

§2. Vesting and Option Expiration.

(a)

General Rule. Subject to § 2(b) and § 2(c), Employee’s right under this Option Certificate to exercise this Option shall vest with respect to:

	(1)		¹/4 of the shares of Stock which are subject to this Option on December 13, 2008, the Initial Vesting Date, provided Employee remains continuously employed by Alimera through the Initial Vesting Date; and

	(2)		³/4 of the shares of Stock which are subject to this Option in equal increments quarterly over three years beginning on the date three (3) months from the initial vesting date provided he or she remains continuously employed by Alimera through the last day of each quarterly period.

(b)

Option Expiration Rules.

	(1)		Non-Vested Shares. If Employee’s employment with Alimera terminates for any reason whatsoever, including death, disability (as determined by the committee) or retirement, while thee are any non-vested shares of Stock subject to this Option under § 2(a), then immediately upon such termination of employment this Option shall expire and shall have no further force or effect and be null and void with respect to such non-vested shares of Stock.

	(2)		Vested Shares. Employee’s right to exercise all or any part of this Option which has vested under § 2(a) shall expire no later than the tenth anniversary of the Grant Date. However, if Employee’s employment with Alimera terminates before the tenth anniversary of the Grant Date, Employee’s right to exercise any part of this Option which has vested under § 2(a) shall expire and shall have no further force or effect and shall be null and void at the end of the ninety (90) day period which starts on the date his or her employment terminates.

(c)

Special Rules.

	(1)		Change in Control. If there is a Change in Control of Alimera, this Option shall be subject to the provisions of § 14 of the Plan with respect to such Change in Control.

	(2)		Affiliates. For purposes of this Option Certificate, any reference to Alimera shall include any Affiliate, Parent or Subsidiary or Alimera, and a transfer of employment between Alimera and any Affiliate, Parent or Subsidiary of Alimera or between any Affiliate, Parent or Subsidiary of Alimera shall not be treated as a termination of employment under the Plan or this Option Certificate.

(3)

§3. Method of Exercise of Option. Employee may exercise this Option in whole or in part (to the extent this Option is otherwise exercisable under § 2 with respect to vested shares of Stock) only in accordance with the rules and procedures established from time to time by Alimera for the exercise of an Option. The Option Price shall be paid at exercise either in cash, by check acceptable to Alimera or through any cashless exercise/resale procedure which is implemented by a broker unrelated to Alimera through a sale of Stock in the open market and which is acceptable to the Committee, or in any combination of those forms of payment.

§ 8. Governing Law. The Plan and this Option shall be governed by the laws of the State of Delaware.

§ 9. Binding Effect. This Option shall be binding upon Alimera and Employee and their respective heirs, executors, administrators and successors.

§ 11. References. Any references to sections (§) in this Option Certificate shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such reference.

ALIMERA SCIENCES, INC.

2005 INCENTIVE STOCK PLAN

INCENTIVE STOCK OPTION

OPTION CERTIFICATE

Alimera Sciences, Inc., a Delaware corporation (“Alimera”), in accordance with the Alimera Sciences, Inc. 2005 Incentive Stock Plan (the “Plan”), hereby grants an Option to Susan Caballa who shall be referred to as “Employee”, to purchase from Alimera Fifty Thousand (50,000) shares of Stock at an Option Price per share equal to $.41 which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made as of March 1, 2007 which shall be referred to as the “Grant Date”. This Option is intended to satisfy the requirements of § 422 of the Code and thus is intended to be an ISO as that term is defined in the Plan.


	ALIMERA SCIENCES, INC.


	By:	/s/ Richard Eiswirth, Jr.



Acknowledged:	EMPLOYEE:


	/s/ Susan H. Caballa

		[Signature]


	Date:	May 17, 2007

TERMS AND CONDITIONS

§ 2. Vesting and Option Expiration.

(a)

General Rule. Subject to § 2(b) and § 2(c), Employee’s right under this Option Certificate to exercise this Option shall vest with respect to:

	(1)		¹/4 of the shares of Stock which are subject to this Option on 03/01/2008, the Initial Vesting Date, provided Employee remains continuously employed by Alimera through the Initial Vesting Date; and

	(2)		³/4 of the shares of Stock which are subject to this Option in equal increments quarterly over three years beginning on the date three (3) months from the Initial Vesting Date provided he or she remains continuously employed by Alimera through the last day of each quarterly period.

(b)

Option Expiration Rules,

	(1)		Non-Vested Shares. If Employee’s employment with Alimera terminates for any reason whatsoever, including death, disability (as determined by the committee) or retirement, while thee are any non-vested shares of Stock subject to this Option under § 2(a), then immediately upon such termination of employment this Option shall expire and shall have no further force or effect and be null and void with respect to such non-vested shares of Stock,

	(2)		Vested Shares. Employee’s right to exercise all or any part of this Option which has vested under § 2(a) shall expire no later than the tenth anniversary of the Grant Date. However, if Employee’s employment with Alimera terminates before the tenth anniversary of the Grant Date, Employee’s right to exercise any part of this Option which has vested under § 2(a) shall expire and shall have no further force or effect and shall be null and void at the end of the ninety (90) day period which starts on the date his or her employment terminates.

(c)

Special Rules.

	(1)		Change in Control. If there is a Change in Control of Alimera, this Option shall be subject to the provisions of § 14 of the Plan with respect to such Change in Control.

	(2)		Affiliates. For purposes of this Option Certificate, any reference to Alimera shall include any Affiliate, Parent or Subsidiary or Alimera, and a transfer of employment between Alimera and any Affiliate, Parent or Subsidiary of Alimera or between any Affiliate, Parent or Subsidiary of Alimera shall not be treated as a termination of employment under the Plan or this Option Certificate.

	(3)		Fractional Shares. Employee’s right to exercise this Option shall not

§ 8. Governing Law. The Plan and this Option shall be governed by the laws of the State of Delaware.

§ 9. Binding Effect. This Option shall be binding upon Alimera and Employee and their respective heirs, executors, administrators and successors.

§ 11. References. Any references to sections (§) in this Option Certificate shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such reference.

ALIMERA SCIENCES, INC.

2004 INCENTIVE STOCK PLAN

INCENTIVE STOCK OPTION

OPTION CERTIFICATE

Alimera Sciences, Inc., a Delaware corporation (“Alimera”), in accordance with the Alimera Sciences, Inc. 2004 Incentive Stock Plan (the “Plan”), hereby grants an Option to Susan Caballa, who shall be referred to as “Employee”, to purchase from Alimera 69,633 shares of Stock at an Option Price per share equal to $0.60, which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made as of February 18, 2005, which shall be referred to as the “Grant Date”. This Option is intended to satisfy the requirements of § 422 of the Code and thus is intended to be an ISO as that term is defined in the Plan.


	ALIMERA SCIENCES, INC.


	By:	/s/ Dan Myers

	Dan Myers
	President, CEO


Acknowledged:	Susan H. Caballa


	/s/ Susan H. Caballa

		[Signature]


	Date:	2/18/05

TERMS AND CONDITIONS

§ 2. Vesting and Option Expiration.

(a)

General Rule. Subject to § 2(b) and § 2(c), Employee’s right under this Option Certificate to exercise this Option shall vest with respect to:

	(1)		¹/4 of the shares of Stock which are subject to this Option on the first anniversary of the Grant Date, provided Employee remains continuously employed by Alimera through the first anniversary of the Grant Date; and

	(2)		¹/12 of the shares of Stock which remain subject to this Option, and which do not vest on the first anniversary of the Grant Date, on the last day of each calendar quarter in the twelve calendar quarter period which starts on or after the first anniversary of the Grant Date, provided he or she remains continuously employed by Alimera through the last day of such calendar quarter.

(b)

Option Expiration Rules.

	(1)		Non-Vested Shares. If Employee’s employment with Alimera terminates for any reason whatsoever, including death, disability (as determined by the Committee) or retirement, while there are any non-vested shares of Stock subject to this Option under § 2(a), then immediately upon such termination of employment this Option shall expire and shall have no further force or effect and be null and void with respect to such non-vested shares of Stock.

	(2)		Vested Shares. Employee’s right to exercise all or any part of this Option which has vested under § 2(a) shall expire no later than the tenth anniversary of the Grant Date. However, if Employee’s employment with Alimera terminates before the tenth anniversary of the Grant Date, Employee’s right to exercise any part of this Option which has vested under § 2(a) shall expire and shall have no further force or effect and shall be null and void at the end of the ninety (90) day period which starts on the date his or her employment terminates.

-2-

(c)

Special Rules.

	(1)		Change in Control. If there is a Change in Control of Alimera, this Option shall be subject to the provisions of § 14 of the Plan with respect to such Change in Control.

	(2)		Affiliates. For purposes of this Option Certificate, any reference to Alimera shall include any Affiliate, Parent or Subsidiary of Alimera, and a transfer of employment between Alimera and any Affiliate, Parent or Subsidiary of Alimera or between any Affiliate, Parent or Subsidiary of Alimera shall not be treated as a termination of employment under the Plan or this Option Certificate.

	(3)		Fractional Shares. Employee’s right to exercise this Option shall not include a right to exercise this Option to purchase a fractional share of Stock. If Employee exercises this Option on any date when this Option includes a fractional share of Stock, his or her exercise right shall be rounded down to the nearest whole share of Stock and the fractional share shall be carried forward until that fractional share together with any other fractional shares can be combined to equal a whole share of Stock or this Option expires

§ 4. Delivery and Other Laws. Alimera shall deliver appropriate and proper evidence of ownership of any Stock purchased pursuant to the exercise of this Option as soon as practicable after such exercise to the extent such delivery is then permissible under applicable law or rule or regulation, and such delivery shall discharge Alimera of all of its duties and responsibilities with respect to this Option.

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Option is transferred by will or by the laws of descent and distribution shall be treated after Employee’s death the same as Employee under this Option Certificate.

§ 6. No Right to Continue Service. Neither the Plan, this Option, nor any related material shall give Employee the right to continue in employment by Alimera or shall adversely affect the right of Alimera to terminate Employee’s employment with or without cause (as determined by the Committee) at any time.

§ 8. Governing Law. The Plan and this Option shall be governed by the laws of the State of Delaware.

§ 9. Binding Effect. This Option shall be binding upon Alimera and Employee and their respective heirs, executors, administrators and successors.

§ 11. References. Any references to sections (§) in this Option Certificate shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such reference.

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ALIMERA SCIENCES, INC.

2004 INCENTIVE STOCK PLAN

INCENTIVE STOCK OPTION

OPTION CERTIFICATE

Alimera Sciences, Inc., a Delaware corporation (“Alimera”), in accordance with the Alimera Sciences, Inc. 2004 Incentive Stock Plan (the “Plan”), hereby grants an Option to Susan Caballa, who shall be referred to as “Employee,” to purchase from Alimera Twenty Thousand Six Hundred Sixty-Four (20,664) shares of Stock at an Option Price per share equal to $1.18 which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made as of August 25, 2009, which shall be referred to as the “Grant Date”. This Option is intended to satisfy the requirements of § 422 of the Code and thus is intended to be an ISO as that term is defined in the Plan.


	ALIMERA SCIENCES, INC.
	By:	/s/ Richard Eiswirth, Jr.

Acknowledged:	EMPLOYEE:
	/s/ Susan H. Caballa
	[Signature]

	Date: September 24, 2009

TERMS AND CONDITIONS

§ 2. Vesting and Option Expiration.

(a)

General Rule. Subject to § 2(b) and § 2(c), Employee’s right under this Option Certificate to exercise this Option shall vest with respect to:

	(1)		5,166 of the shares of Stock which are subject to this Option on August 25, 2010, the Initial Vesting Date, provided Employee remains continuously employed by Alimera through the Initial Vesting Date; and

	(2)		15,498 of the shares of Stock which are subject to this Option in twelve equal increments quarterly beginning on November 25, 2010 through August 25, 2013 provided Employee remains continuously employed by Alimera through the last day of each quarterly period.

(b)

Option Expiration Rules.

	(1)		Non-Vested Shares. If Employee’s employment with Alimera terminates for any reason whatsoever, including death, disability (as determined by the committee) or retirement, while thee are any non-vested shares of Stock subject to this Option under § 2(a), then immediately upon such termination of employment this Option shall expire and shall have no further force or effect and be null and void with respect to such non-vested shares of Stock.

	(2)		Vested Shares. Employee’s right to exercise all or any part of this Option which has vested under § 2(a) shall expire no later than the tenth anniversary of the Grant Date. However, if Employee’s employment with Alimera terminates before the tenth anniversary of the Grant Date, Employee’s right to exercise any part of this Option which has vested under § 2(a) shall expire and shall have no further force or effect and shall be null and void at the end of the ninety (90) day period which starts on the date his or her employment terminates.

(c)

Special Rules.

	(1)		Change in Control. If there is a Change in Control of Alimera, this Option shall be subject to the provisions of § 14 of the Plan with respect to such Change in Control.

	(2)		Affiliates. For purposes of this Option Certificate, any reference to Alimera shall include any Affiliate, Parent or Subsidiary or Alimera, and a transfer of employment between Alimera and any Affiliate, Parent or Subsidiary of Alimera or between any Affiliate, Parent or Subsidiary of Alimera shall not be treated as a termination of employment under the Plan or this Option Certificate.

	(3)		Fractional Shares. Employee’s right to exercise this Option shall not include a right to exercise this Option to purchase a fractional share of

Stock. If Employee exercises this Option on any date when this Option includes a fractional share of Stock, his or her exercise right shall be rounded down to the nearest whole share of Stock and the fractional share shall be carried forward until that fractional share together with any other fractional shares can be combined to equal a whole share of Stock or this Option expires.

§ 8. Governing Law. The Plan and this Option shall be governed by the laws of the State of Delaware.

§ 9. Binding Effect. This Option shall be binding upon Alimera and Employee and their respective heirs, executors, administrators and successors.

§ 11. References. Any references to sections (§) in this Option Certificate shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such reference.

ALIMERA SCIENCES, INC.

2005 INCENTIVE STOCK PLAN

INCENTIVE STOCK OPTION

OPTION CERTIFICATE

Alimera Sciences, Inc., a Delaware corporation (“Alimera”), in accordance with the Alimera Sciences, Inc. 2005 Incentive Stock Plan (the “Plan”), hereby grants an Option to Susan Caballa, who shall be referred to as “Employee,” to purchase from Alimera Sixty-Two Thousand Seven Hundred Twenty-Seven (62,727) shares of Stock at an Option Price per share equal to $1.18 which grant shall be subject to all of the terms and conditions set forth in this Option Certificate and in the Plan. This grant has been made as of August 25, 2009, which shall be referred to as the “Grant Date”. This Option is intended to satisfy the requirements of § 422 of the Code and thus is intended to be an ISO as that term is defined in the Plan.


	ALIMERA SCIENCES, INC.
	By:	/s/ Richard Eiswirth, Jr.

Acknowledged:	EMPLOYEE:
	/s/ Susan H. Caballa
	[Signature]

	Date: September 24, 2009

TERMS AND CONDITIONS

§ 2. Vesting and Option Expiration.

(a)

General Rule. Subject to § 2(b) and § 2(c), Employee’s right under this Option Certificate to exercise this Option shall vest with respect to:

	(1)		15,681 of the shares of Stock which are subject to this Option vest upon the one year anniversary of the date upon which the Investor Majority, as defined in the Series C-1 Preferred Stock and Warrant Purchase Agreement (the “Purchase Agreement”), deliver to the Company a Mandatory Exercise Election, as defined in the Purchase Agreement, the Initial Vesting Date, provided Employee remains continuously employed by Alimera through the Initial Vesting Date; and

	(2)		47,046 of the shares of Stock which are subject to this Option shall vest quarterly in twelve equal increments beginning on the date three months from the Initial Vesting Date, provided Employee remains continuously employed by Alimera through the last day of each quarterly period.

(b)

Option Expiration Rules.

	(1)		Non-Vested Shares. If Employee’s employment with Alimera terminates for any reason whatsoever, including death, disability (as determined by the committee) or retirement, while there are any non-vested shares of Stock subject to this Option under § 2(a), then immediately upon such termination of employment this Option shall expire and shall have no further force or effect and be null and void with respect to such non-vested shares of Stock.

	(2)		Vested Shares. Employee’s right to exercise all or any part of this Option which has vested under § 2(a) shall expire no later than the tenth anniversary of the Grant Date. However, if Employee’s employment with Alimera terminates before the tenth anniversary of the Grant Date, Employee’s right to exercise any part of this Option which has vested under § 2(a) shall expire and shall have no further force or effect and shall be null and void at the end of the ninety (90) day period which starts on the date his or her employment terminates.

(c)

Special Rules.

	(1)		Change in Control. If there is a Change in Control of Alimera, this Option shall be subject to the provisions of § 14 of the Plan with respect to such Change in Control.

	(2)		Affiliates. For purposes of this Option Certificate, any reference to Alimera shall include any Affiliate, Parent or Subsidiary or Alimera, and a transfer of employment between Alimera and any Affiliate, Parent or Subsidiary of Alimera or between any Affiliate, Parent or Subsidiary of

			Alimera shall not be treated as a termination of employment under the Plan or this Option Certificate.

	(3)		Fractional Shares. Employee’s right to exercise this Option shall not include a right to exercise this Option to purchase a fractional share of Stock. If Employee exercises this Option on any date when this Option includes a fractional share of Stock, his or her exercise right shall be rounded down to the nearest whole share of Stock and the fractional share shall be carried forward until that fractional share together with any other fractional shares can be combined to equal a whole share of Stock or this Option expires.

§ 8. Governing Law. The Plan and this Option shall be governed by the laws of the State of Delaware.

§ 9. Binding Effect. This Option shall be binding upon Alimera and Employee and

their respective heirs, executors, administrators and successors.

§ 11. References. Any references to sections (§) in this Option Certificate shall be to sections (§) of this Option Certificate unless otherwise expressly stated as part of such reference.