Exhibit 10.2


 





SHORT OCCUPANCY AGREEMENT


THIS AGREEMENT made this 31th day of August,
2015.


BETWEEN:


Cynapsus Therapeutics., (The Tenant)


A Company Incorporated under the laws
of the Province of Ontario


OF THE FIRST PART


AND


IMAGES LIFE MEDIA INC., (The Landlord)


A Company Incorporated under the laws
of the Province of Ontario


OF THE SECOND PART


 


The Tenant hereby agrees to Lease from
the Landlord the hereinafter described premises on the following terms and conditions:


 


		1.	THE PREMISES



The tenant agrees to Lease from the Landlord
the back portion of the premises in the building being municipally known as 828 RICHMOND STREET WEST, entire lower level- Suite
100, in the City of Toronto, Province of Ontario (the “Building”) As outlined in attached Schedule
A, with use of the common area, and upon and subject to the terms and conditions hereinafter set forth.


 


		2.	TERM



To have and to hold the Premises for a
term of 1 year commencing September 9th, 2015, expiring September 30th, 2016.


 


		3.	DEPOSIT



Tenant and Landlord acknowledge that Landlord
will be holding last months rent as security deposit.


 


		4.	RENT



The Tenant shall pay to the Landlord an
annual rent throughout the Term payable in equal consecutive monthly installments on the first day of each day and every month,
as follows:


 


	
        TERM

         
	
        RENTAL 

        Per sq.ft.
	MONTHLY	ANNUALLY
	Sep 9/15 to Sept. 30/16	N/A	$5,440.00	$65,280.00


 


		5.	ALLOCATION OF OTHER COSTS



In addition to Rent, the Tenant shall pay
to the Landlord or directly to the provider the following:


 


		(a)	Harmonized Sales Taxes (HST) and/or any other taxes or assessment imposed in connection with the
payment of Rent hereunder or Tenant Business.
		(b)	Janitorial services, upkeep and repairs of premises.
		(c)	2 parking spaces #8 and #9 at monthly rent rate of $250.00



 


		6.	TENANT’S IMPROVEMENTS



During the term of the Lease, the Landlord
and the Tenant hereby agree that title to additions and improvements shall be and remain with the Landlord, except for fixtures,
furniture and equipments deemed property of the Tenant.


 


		7.	GROSS LEASE



The Landlord and Tenant agree that this
under this Agreement the Tenants shall be responsible for the payment of Rent, costs provided for in paragraph 5, and such costs
or expenses which may have been caused by the neglect or abuse of the Tenant, its employee or agents.


 






     


     


    

 


		8.	LANDLORD’S WORK – TENANT’S WORK
and POSSESSION



The Tenant acknowledges agreeing to pay
for leasehold improvements as outlined below:


$27, 500.00 For leasehold improvements
already completed plus HST.


 


		9.	RIGHT TO ACCESS



The Tenant covenants and agrees to allow
Landlord or its agents to access Premises or any part thereof for all reasonable and just cause including inspections, repairs
and maintenance.


 


		10.	USE



The Premises shall be used by the Tenant
for the purpose of Studio and Offices.


 


		11.	LANDLORD’S REPAIRS



Landlord shall pay cost of repairs to HVAC
systems, roof, building and structure.


 


Notwithstanding the above noted provision,
the Landlord shall not be responsible for repairs or replacements resulting from any act or omission of the Tenant or its employees
or agents.


 


		12.	SIGNAGE



The Tenant may print or place its name,
at own cost, on entranceways or window.


 


		13.	DEMOLITION AND RENEWAL



Tenant acknowledges that Landlord, at any
time after October 1st, 2015, has the right to redevelop and/or demolish Building, in which case, upon being
provided with Three (3) months written notice, the Tenant agrees to terminate its tenancy and provide vacant possession of premises
without leave and Landlord shall have any further obligations or liability with Tenant.


 


If Landlord should elect NOT to demolish
building, Tenant shall have the right to renew this Occupancy Agreement, until such time as Landlord may decide to complete such
demolition, but not longer than three (3) years. Term and Rental shall then be agreed from time to time between Landlord and Tenant
in accordance to prevailing rental rate for similar properties in area.


 


		14.	RIGHT OF RE-ENTRY



The Landlord my re-enter the Premises for
any of the following defaults of the tenant; for non-payment of rent, for non performance of covenants, or for insolvency of Tenant.


 


		15.	SUCCESSORS



This Occupancy Agreement and everything
herein contained shall bind the successors, heirs and assigns of the parties hereto.


 


		16.	ENTIRE AGREEMENT



There are no covenants, representations,
agreements, warranties or conditions in any way relating to the subject matter except those set forth in this Occupancy Agreement.


 


		17.	ACCEPTANCE



IN WITNESS WHEREOF the Tenant and the Landlord hereto
have agreed to the terms of this Occupancy Agreement and have hereunto caused this document to be executed this 31st August, 2015.


 


SIGNED, SEALED AND DELIVERED


 


/s/ Andrew Williams





 



 Cynapsus
Therapeutics.,(Tenant)


 


 /s/
John Henriques





 






Images Life Media Inc.,. (Landlord)