Company: GLASF
Filing Date: 2025-06-24
Form Type: S-8
Source: 0001104659-25-062106
Chunk: 3

Company: Glass House Brands Inc.
Filing Date: 2025-06-24
Form: S-8
Chunk 3
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 the outcome of the proceeding. The BCBCA also provides that a company may pay the expenses,
actually and reasonably incurred by an eligible party, as they are incurred in advance of the final disposition of an eligible proceeding
if the company first receives from the eligible party a written undertaking that, if it is ultimately determined that the payment of expenses
is prohibited under the BCBCA, the eligible party will repay the amounts advanced.

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For the purposes of the applicable
division of the BCBCA, an “eligible party,” in relation to a company, means an individual who:

| (a) | is or was a director or officer of the company; |

| (b) | is or was a director or officer of another corporation at a time when the corporation is or was an affiliate 
 of the company, or at the request of the company; or                                                         |

| (c) | at the request of the company, is or was, or holds or held a position equivalent to that of, a director 
 or officer of a partnership, trust, joint venture, or other unincorporated entity,                      |

An “eligible penalty”
under the BCBCA means a judgment, penalty, or fine awarded or imposed in, or an amount paid in settlement of, an eligible proceeding.

An “eligible proceeding”
under the BCBCA is a proceeding in which an eligible party or any of the heirs and personal or other legal representatives of the eligible
party, by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent
to that of a director or officer of, the company or an associated corporation, is or may be joined as a party, or is or may be liable
for or in respect of a judgment, penalty or fine in, or expenses related to, the proceeding. A “proceeding” includes any legal
proceeding or investigative action, whether current, threatened, pending, or completed. “Expenses” include costs, charges
and expenses, including legal and other fees, but does not include judgments, penalties, fines or amounts paid in settlement of a proceeding.
An “associated corporation” means a corporation or entity referred to in paragraph (b) or (c) of the definition
of “eligible party” above.

Notwithstanding the foregoing,
the BCBCA prohibits a company from indemnifying an eligible party or paying the expenses of an eligible party if any of the following
circum