March 1, 2015 Uses in Investment Purpose Clause

Investment Purpose from Stock Purchase Agreement

This Stock Purchase Agreement (this "Agreement"), dated as of March 7, 2016, is entered into among the parties listed on Exhibit A-1 hereto (each, a "Seller" and collectively, the "Sellers") and EyeGate Pharmaceuticals, Inc., a Delaware corporation ("Buyer").

Investment Purpose. Buyer is acquiring the Shares solely for its own account for investment purposes and not with a view to, or for offer or sale in connection with, any distribution thereof. Buyer acknowledges that the Shares are not registered under the Securities Act or any state securities laws, and that the Shares may not be transferred or sold except pursuant to the registration provisions of the Securities Act or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as applicable.