Company: CGC
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001104659-25-075215
Chunk: 78

Company: Canopy Growth Corp
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 78
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 stipulates that if the Company terminates Ms. Hong’s employment without cause, then, provided that Ms. Hong signs and returns to the Company a full and final employment separation, release and waiver of liability (the “ Hong Separation Agreement ”), the Company will provide (a) a lump sum payment equal to 18 months’ of Ms. Hong’s base salary, which shall be payable no later than two and a half months following the end of the calendar year in which the termination occurs; (b) a lump sum payment equal to 150% of the average actual annual amounts paid to Ms. Hong as a short-term annual incentive performance bonus during the prior two years, which shall be payable no later than two and a half months following the end of the calendar year in which the termination occurs; (c) any outstanding PSUs will vest at actual performance levels for all years already certified by the Board or any responsible committee thereof; and (d) if Ms. Hong were to elect continuation coverage under the Company’s medical plan pursuant to the Consolidated Omnibus Budget Reconciliation Act (“ COBRA ”), a reimbursement to Ms. Hong for a portion of the COBRA premium 59 TABLE OF CONTENTS payments as further described in the Hong Agreement. The Company was also able to terminate Ms. Hong’s employment with cause, without further liability to Ms. Hong. The Hong Agreement contains certain non-competition and non-solicitation provisions in favor of the Company for a period of 18 months following the termination of the Hong Agreement. Ms. Hong was terminated from the Company without cause on July 9, 2025 and subject to Ms. Hong’s compliance with the terms of the Hong Employment Agreement including Ms. Hong’s entry into the Hong Separation Agreement, Ms. Hong will be entitled to the payments and benefits provided for by the Hong Employment Agreement following a termination without cause, as further described above. Ms. Hong will also be entitled to payment of her retention bonus of US$150,000 pursuant to the retention agreement entered into with the Company on August 19, 2024. Ms. Hong’s retention award was paid on July 15, 2025. David Klein Mr. Klein served as CEO of the Company pursuant to an employment agreement between Mr. Klein and the Company dated December 8, 2019, as amended on June 8, 2021, June 14, 2022, and June 8, 2024 (the “ Klein Agreement ”). As CEO, Mr