# EDGAR Filing Document

**Accession Number:** 0001840563
**File Stem:** 0001213900-25-077686
**Filing Date:** 2025-8
**Character Count:** 28842
**Document Hash:** c15cd132b19a621719efe1b4a9db3839
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-077686.hdr.sgml**: 20250818

**ACCESSION NUMBER**: 0001213900-25-077686

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250812

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250818

**DATE AS OF CHANGE**: 20250818

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PMGC Holdings Inc.
- **CENTRAL INDEX KEY:** 0001840563
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 851399981
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41875
- **FILM NUMBER:** 251226222

**BUSINESS ADDRESS:**
- **STREET 1:** 120 NEWPORT CENTER DRIVE
- **STREET 2:** STE 250
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
- **BUSINESS PHONE:** 888-445-4886

**MAIL ADDRESS:**
- **STREET 1:** 120 NEWPORT CENTER DRIVE
- **STREET 2:** STE 250
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Elevai Labs Inc.
- **DATE OF NAME CHANGE:** 20211207

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Reactive Medical Labs Inc.
- **DATE OF NAME CHANGE:** 20210114

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): August 12, 2025**

---

| |
|:---|
| **PMGC Holdings Inc.** |
| (Exact name of registrant as specified in its charter) |

---

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-41875** | **33-2382547** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **c/o 120 Newport Center Drive, Ste. 249<br> Newport Beach, CA** | **92660** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(888) 445-4886**

**<u>N/A</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | |
|:---|:---|
| **Title of each class** | **Name of each exchange on which registered** |
| Common Stock, $0.0001 par value ELAB | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01 Entry into a Material Definitive Agreement.**

***(a) Amendment No. 3 to the Second Amended and Restated Consulting Agreement for Non-Executive Chairman between the Company and Northstrive Companies Inc.***

On August 12, 2025, PMGC Holdings Inc., a Nevada corporation (the "Company"), and Northstrive Companies Inc., a California corporation (such corporation, "Northstrive") wholly owned by the Company's Chairman, Braeden Lichti, entered into Amendment No. 3 (such amendment, "Amendment No. 3 to Second Amended Northstrive Consulting Agreement") to the Second Amended and Restated Consulting Agreement for Non-Executive Chairman between the Company and Northstrive ("Second Amended Northstrive Consulting Agreement").

1. <u>Acquisition Awards</u>

Amendment No. 3 to Second Amended Northstrive Consulting Agreement provided for the Company's grant of a fully vested award in the form of either: (i) restricted stock units ("RSUs"), (ii) restricted stock, or (iii) cash (each, "Acquisition Award") to Northstrive on the consummation of any acquisition of (i) an entity, (ii) assets, or (iii) capital stock by the Company or any Subsidiary (as defined below). The amount of the Acquisition Award to Northstrive will be calculated based on the total purchase price of the consummated acquisition, regardless of whether or not such purchase price is paid in cash, stock, assumed debt, or other consideration (such purchase price, the "Acquisition Value"), and will be determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Acquisition Value from $0 to $5,000,000 – Northstrive
is entitled to an Acquisition Award of 5% of the Acquisition Value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Acquisition Value over $5,000,000 to $10,000,000 – Northstrive
is entitled to an Acquisition Award of 6% of the Acquisition Value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Acquisition Value over $10,000,000 to $20,000,000 –
Northstrive is entitled to an Acquisition Award of 7% of the Acquisition Value; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Acquisition Value over $20,000,000 - Northstrive is entitled
to an Acquisition Award of 8% of the Acquisition Value.

In addition to the determinations of Acquisition Value set forth in Item 1.01(a)(1) of this Current Report on Form 8-K ("Form 8-K"), the Compensation Committee of the Board of Directors of the Company ("Compensation Committee") may, in its sole discretion, determine to award Northstrive an additional 1% of the applicable percentage of the Acquisition Value if: (i) the Board of Directors of the Company (the "Board") and/or Compensation Committee projects the applicable acquisition to be earnings before interest, tax, depreciation, and amortization (EBITDA) or net income accretive within twelve (12) months of closing or (b) the Compensation Committee deems the applicable acquisition as an advancement to the Company's long-term growth objectives, competitive positioning, and/or operational capabilities.

If Northstrive elects to receive its Acquisition Award in the form of RSUs or restricted stock, the number of RSUs ("RSU Award Amount") or restricted stock granted shall equal (x) the dollar value of the Acquisition Award divided by (y) the trailing five (5) day volume-weighted average price (VWAP) of the Company's common stock ending on the trading day prior to the acquisition closing date (such RSU Award Amount rounded down to the nearest whole share). The RSUs or restricted stock granted to Northstrive will be fully vested and shall not be subject to any further service or performance conditions.

"Person" means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, any other entity, or a governmental entity.

"Subsidiary" means, with respect to any Person, any corporation, limited liability company, partnership, joint venture or other legal entity of which such Person (either above or through or together with any other Subsidiary) owns, directly or indirectly, more than 50% of the stock or other equity interests the holders of which are generally entitled to vote for the election of the board of directors or other governing body of such entity.

2. <u>Name Change</u>

Amendment No. 3 to Second Amended Northstrive Consulting Agreement also provided for the name change of the Second Amended Northstrive Consulting Agreement, going forward, to "Consulting and Services Agreement for Non-Employee, Non-Executive Chairman."

***(b) Amendment No. 3 to the Second Amended and Restated Consulting Agreement for Non-Employee Chief Executive Officer between the Company and GB Capital Ltd***

On August 12, 2025, the Company and GB Capital Ltd, a British Columbia, Canada corporation (such corporation, "GB Capital") wholly owned by the Company's Chief Executive Officer and Chief Financial Officer, Graydon Bensler, entered into Amendment No. 3 (such amendment, "Amendment No. 3 to Second Amended GB Capital Consulting Agreement") to the Second Amended and Restated Consulting Agreement for Non-Employee Chief Executive Officer between the Company and GB Capital ("Second Amended GB Capital Consulting Agreement").

1. <u>Acquisition Awards</u>

Amendment No. 3 to Second Amended GB Capital Consulting Agreement provided for the Company's grant of an Acquisition Award in the form of either: (i) RSUs, (ii) restricted stock, or (iii) cash to GB Capital on the consummation of any acquisition of (i) an entity, (ii) assets, or (iii) capital stock by the Company or any Subsidiary. The amount of the Acquisition Award to GB Capital will be calculated based on the Acquisition Value, and will be determined as follows:

● Acquisition Value from $0 to $5,000,000 – GB Capital is entitled to an Acquisition Award of 5% of the Acquisition Value;

● Acquisition Value over $5,000,000 to $10,000,000 – GB Capital is entitled to an Acquisition Award of 6% of the Acquisition Value;

● Acquisition Value over $10,000,000 to $20,000,000 – GB Capital is entitled to an Acquisition Award of 7% of the Acquisition Value; and

● Acquisition Value over $20,000,000 – GB Capital is entitled to an Acquisition Award of 8% of the Acquisition Value.

In addition to the determinations of Acquisition Value set forth in Item 1.01(b)(1) of this Form 8-K, the Compensation Committee may, in its sole discretion, determine to award GB Capital an additional 1% of the applicable percentage of the Acquisition Value if: (i) the Board and/or Compensation Committee projects the applicable acquisition to be earnings before interest, tax, depreciation, and amortization (EBITDA) or net income accretive within twelve (12) months of closing or (b) the Compensation Committee deems the applicable acquisition as an advancement to the Company's long-term growth objectives, competitive positioning, and/or operational capabilities.

If GB Capital elects to receive its Acquisition Award in the form of RSUs or restricted stock, the RSU Award Amount or restricted stock granted shall equal (x) the dollar value of the Acquisition Award divided by (y) the trailing five (5) day volume-weighted average price (VWAP) of the Company's common stock ending on the trading day prior to the acquisition closing date (such RSU Award Amount rounded down to the nearest whole share). The RSUs or restricted stock granted to GB Capital will be fully vested and shall not be subject to any further service or performance conditions.

Acquisition Awards may, at the Board's discretion and in compliance with applicable law, be issued directly to GB Capital or any other designated entity of GB Capital. All such Acquisition Awards shall be subject to applicable securities laws and the terms of the Company's then-effective equity incentive plan or other applicable grant policy.

2. <u>Name Change</u>

Amendment No. 3 to the Second Amended GB Capital Consulting Agreement also provided for the name change of the Second Amended GB Capital Consulting Agreement, going forward, to "Consulting and Services Agreement for Non-Employee Chief Executive Officer."

The foregoing summaries of Amendment No. 3 to Second Amended Northstrive Consulting Agreement and Amendment No. 3 to Second Amended GB Capital Consulting Agreement do not purport to be complete and are subject to and are qualified in their entirety by copies of Amendment No. 3 to Second Amended Northstrive Consulting Agreement and Amendment No. 3 to Second Amended GB Capital Consulting Agreement, filed to this Form 8-K as Exhibits 10.1 and 10.2, respectively, which are incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Amendment No. 3 to the Second Amended and Restated Consulting Agreement for Non-Executive Chairman between the Company and Northstrive Companies Inc. dated August 12, 2025.](ea025290401ex10-1_pmgc.htm) |
| 10.2 | [Amendment No. 3 to the Second Amended and Restated Consulting Agreement for Non-Employee Chief Executive Officer between the Company and GB Capital Ltd dated August 12, 2025.](ea025290401ex10-2_pmgc.htm) |
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 18, 2025

---

| | |
|:---|:---|
| PMGC Holdings, Inc. | PMGC Holdings, Inc. |
| By: | /s/ Graydon Bensler |
| Name: | Graydon Bensler |
| Title: | Chief Executive Officer, Chief Financial Officer, and Director |

---

## Exhibit 10.1

**Exhibit 10.1**

**AMENDMENT NO. 3** 

**TO**

**THE SECOND AMENDED AND RESTATED <br> CONSULTING AGREEMENT**

**FOR**

**NON-EXECUTIVE CHAIRMAN**

This Amendment No. 3 to the Second Amended and Restated Consulting Agreement (this "<u>Amendment No. 3</u>") is effective as of August 12, 2025 ("<u>Effective Date</u>") and is entered into by and between PMGC Holdings Inc., a Nevada corporation fka Elevai Labs Inc. ("<u>Company</u>") and Northstrive Companies Inc., a California corporation ("<u>Consultant</u>" and, together with the Company, the "<u>Parties</u>"). Capitalized terms used herein but not otherwise defined have the meanings set forth in the Second Amended and Restated Consulting Agreement for Non-Executive Chairman between the Parties, dated October 25, 2024 (the "<u>Second A&R Agreement</u>").

**WHEREAS**, the Parties previously entered into the Second A&R Agreement;

**WHEREAS**, the Parties previously entered into the Amendment to the Second A&R Agreement on October 25, 2024 ("<u>Amendment No. 1</u>");

**WHEREAS**, the Parties previously entered into the Amendment No. 2 to the Second A&R Agreement on April 3, 2025 ("<u>Amendment No. 2</u>"); and

**WHEREAS**, the Parties desire to amend the Second A&R Agreement for the third time, as set forth in this Amendment No. 3.

**NOW, THEREFORE**, in consideration of the rights and obligations contained herein, and for other good and valuable consideration, the adequacy of which is hereby acknowledged, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The name of the Second A&R Agreement is hereby amended and restated in its entirety to read as follows: "Consulting and Services Agreement for Non-Employee, Non-Executive Chairman"; *provided, however*, that the amendments set forth in Amendment No. 1 and Amendment No. 2 to the formerly named Second A&R Agreement will be considered to be of force and effect to the extent that they do not conflict with each other, and to the extent of conflict, the amendments set forth in Amendment No. 2 supersede the amendments set forth in Amendment No. 1, and, *provided further*, to the extent of conflicts between (x) the amendments set forth in Amendment No. 1 and amendments set forth in Amendment No. 2 and (y) the amendments set forth in this Amendment No. 3, the amendments in Amendment No. 3 will supersede the amendments to the formerly named Second A&R Agreement set forth in Amendment No. 1 and Amendment No. 2. Further, for the avoidance of doubt, the amendments set forth in this Amendment No. 3 to the formerly named Second Amended and Restated Consulting Agreement for Non-Executive Chairman between the Parties, dated October 25, 2024, shall be of full force and effect as of the Effective Date in spite of the name change to the Second A&R Agreement provided for in this Section 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The following subsection (f) is hereby added to Section 1 of Exhibit B to the Second A&R Agreement as follows:

"1f. *Acquisition-Based RSU, Restricted Stock or Cash Awards*. Upon consummation of any acquisition of (i) an entity, (ii) assets, or (iii) capital stock by the Company or any Subsidiary (as defined below), the Company shall grant to the Consultant a fully vested award in the form of either: (i) restricted stock units ("<u>RSUs</u>"), (ii) restricted stock, or (iii) cash (each, an "<u>Acquisition Award</u>"), *provided that* the Consultant may elect the form of the applicable Acquisition Award in its sole discretion, and *provided further* that such Acquisition Award is subject to approval by the Board and the Compensation Committee of the Board.

The Acquisition Award shall be calculated based on the total purchase price of the consummated acquisition, regardless of whether or not such purchase price is paid in cash, stock, assumed debt, or other consideration (such purchase price, the "<u>Acquisition Value</u>"), and shall be determined as follows:

● Acquisition Value from $0 to $5,000,000 – the Consultant is entitled to an Acquisition Award of 5% of the Acquisition Value;

● Acquisition Value over $5,000,000 to $10,000,000 – the Consultant is entitled to an Acquisition Award of 6% of the Acquisition Value;

● Acquisition Value over $10,000,000 to $20,000,000 – the Consultant is entitled to an Acquisition Award of 7% of the Acquisition Value; and

● Acquisition Value over $20,000,000 - the Consultant is entitled to an Acquisition Award of 8% of the Acquisition Value.

In addition to the determinations of Acquisition Value set forth in this Section 1(f), the Compensation Committee may, in its sole discretion, determine to award the Consultant an additional 1% of the applicable percentage of the Acquisition Value if: (i) the Board and/or Compensation Committee projects the applicable acquisition to be earnings before interest, tax, depreciation, and amortization (EBITDA) or net income accretive within twelve (12) months of closing or (b) the Compensation Committee deems the applicable acquisition as an advancement to the Company's long-term growth objectives, competitive positioning, and/or operational capabilities.

If the Consultant elects to receive the Acquisition Award in the form of RSUs or restricted stock, the number of RSUs ("RSU Award Amount") or restricted stock granted shall equal (x) the dollar value of the Acquisition Award divided by (y) the trailing five (5) day volume-weighted average price (VWAP) of the Company's common stock ending on the trading day prior to the acquisition closing date (such RSU Award Amount rounded down to the nearest whole share). The RSUs or restricted stock granted to the Consultant will be fully vested and shall not be subject to any further service or performance conditions.

Acquisition Awards may, at the Board's discretion and in compliance with applicable law, be issued directly the Consultant or any other designated entity of the Consultant. All such Acquisition Awards shall be subject to applicable securities laws and the terms of the Company's then-effective equity incentive plan or other applicable grant policy.

"Person" means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, any other entity, or a governmental entity.

"Subsidiary" means, with respect to any Person, any corporation, limited liability company, partnership, joint venture or other legal entity of which such Person (either above or through or together with any other Subsidiary) owns, directly or indirectly, more than 50% of the stock or other equity interests the holders of which are generally entitled to vote for the election of the board of directors or other governing body of such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Except as set forth in this Amendment No. 3, the provisions of the Second A&R Agreement remain the same and in full force and effect.

[*Signature Page Follows*]

IN WITNESS WHEREOF, the Parties have caused this Amendment No. 3 to the Second Amended and Restated Consulting Agreement for Non-Executive Chairman to be executed as of the date first written above.

---

| | |
|:---|:---|
| **COMPANY** | **COMPANY** |
| PMGC Holdings Inc. | PMGC Holdings Inc. |
| By: | /s/ George Kovalyov |
|  | George Kovalyov |
|  | Director |
| **CONSULTANT** | **CONSULTANT** |
| Northstrive Companies Inc. | Northstrive Companies Inc. |
| By: | /s/ Braeden Lichti |
|  | Braeden Lichti |
|  | Chief Executive Officer |

---

## Exhibit 10.2

**Exhibit 10.2**

**AMENDMENT NO. 3** 

**TO**

**THE SECOND AMENDED AND RESTATED**

**CONSULTING AGREEMENT**

**FOR**

**NON-EMPLOYEE CHIEF EXECUTIVE OFFICER**

This Amendment No. 3 to the Second Amended and Restated Consulting Agreement (this "<u>Amendment No. 3</u>") is effective as of August 12, 2025 ("<u>Effective Date</u>") and is entered into by and between PMGC Holdings Inc., a Nevada corporation fka Elevai Labs Inc. ("<u>Company</u>") and GB Capital Ltd, a British Columbia, Canada corporation ("<u>Consultant</u>" and, together with the Company, the "<u>Parties</u>"). Capitalized terms used herein but not otherwise defined have the meanings set forth in the Second Amended and Restated Consulting Agreement for Non-Employee Chief Executive Officer between the Parties, dated October 25, 2024 (the "<u>Second A&R Agreement</u>").

**WHEREAS**, the Parties previously entered into the Second A&R Agreement;

**WHEREAS**, the Parties previously entered into the Amendment to the Second A&R Agreement on October 25, 2024 ("<u>Amendment No. 1</u>");

**WHEREAS**, the Parties previously entered into the Amendment No. 2 to the Second A&R Agreement on April 3, 2025 ("<u>Amendment No. 2</u>"); and

**WHEREAS**, the Parties desire to amend the Second A&R Agreement for the third time, as set forth in this Amendment No. 3.

**NOW, THEREFORE**, in consideration of the rights and obligations contained herein, and for other good and valuable consideration, the adequacy of which is hereby acknowledged, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The name of the Second A&R Agreement is hereby amended and restated in its entirety to read as follows: "Consulting and Services Agreement for Non-Employee Chief Executive Officer"; *provided, however*, that the amendments set forth in Amendment No. 1 and Amendment No. 2 to the formerly named Second A&R Agreement will be considered to be of force and effect to the extent that they do not conflict with each other, and to the extent of conflict, the amendments set forth in Amendment No. 2 supersede the amendments set forth in Amendment No. 1, and, *provided further*, to the extent of conflicts between (x) the amendments set forth in Amendment No. 1 and amendments set forth in Amendment No. 2 and (y) the amendments set forth in this Amendment No. 3, the amendments in Amendment No. 3 will supersede the amendments to the formerly named Second A&R Agreement set forth in Amendment No. 1 and Amendment No. 2. Further, for the avoidance of doubt, the amendments set forth in this Amendment No. 3 to the formerly named Second Amended and Restated Consulting Agreement for Non-Employee Chief Executive Officer between the Parties, dated October 25, 2024, shall be of full force and effect as of the Effective Date in spite of the name change to the Second A&R Agreement provided for in this Section 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The following subsection (f) is hereby added to Section 1 of Exhibit B to the Second A&R Agreement as follows:

"1f. *Acquisition-Based RSU, Restricted Stock or Cash Awards*. Upon consummation of any acquisition of (i) an entity, (ii) assets, or (iii) capital stock by the Company or any Subsidiary (as defined below), the Company shall grant to the Consultant a fully vested award in the form of either: (i) restricted stock units ("<u>RSUs</u>"), (ii) restricted stock, or (iii) cash (each, an "<u>Acquisition Award</u>"), *provided that* the Consultant may elect the form of the applicable Acquisition Award in its sole discretion, and *provided further* that such Acquisition Award is subject to approval by the Board and the Compensation Committee of the Board.

The Acquisition Award shall be calculated based on the total purchase price of the consummated acquisition, regardless of whether or not such purchase price is paid in cash, stock, assumed debt, or other consideration (such purchase price, the "<u>Acquisition Value</u>"), and shall be determined as follows:

● Acquisition Value from $0 to $5,000,000 – the Consultant is entitled to an Acquisition Award of 5% of the Acquisition Value;

● Acquisition Value over $5,000,000 to $10,000,000 – the Consultant is entitled to an Acquisition Award of 6% of the Acquisition Value;

● Acquisition Value over $10,000,000 to $20,000,000 – the Consultant is entitled to an Acquisition Award of 7% of the Acquisition Value; and

● Acquisition Value over $20,000,000 - the Consultant is entitled to an Acquisition Award of 8% of the Acquisition Value.

In addition to the determinations of Acquisition Value set forth in this Section 1(f), the Compensation Committee may, in its sole discretion, determine to award the Consultant an additional 1% of the applicable percentage of the Acquisition Value if: (i) the Board and/or Compensation Committee projects the applicable acquisition to be earnings before interest, tax, depreciation, and amortization (EBITDA) or net income accretive within twelve (12) months of closing or (b) the Compensation Committee deems the applicable acquisition as an advancement to the Company's long-term growth objectives, competitive positioning, and/or operational capabilities.

If the Consultant elects to receive the Acquisition Award in the form of RSUs or restricted stock, the number of RSUs ("RSU Award Amount") or restricted stock granted shall equal (x) the dollar value of the Acquisition Award divided by (y) the trailing five (5) day volume-weighted average price (VWAP) of the Company's common stock ending on the trading day prior to the acquisition closing date (such RSU Award Amount rounded down to the nearest whole share). The RSUs or restricted stock granted to the Consultant will be fully vested and shall not be subject to any further service or performance conditions.

Acquisition Awards may, at the Board's discretion and in compliance with applicable law, be issued directly the Consultant or any other designated entity of the Consultant. All such Acquisition Awards shall be subject to applicable securities laws and the terms of the Company's then-effective equity incentive plan or other applicable grant policy.

"Person" means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, any other entity, or a governmental entity.

"Subsidiary" means, with respect to any Person, any corporation, limited liability company, partnership, joint venture or other legal entity of which such Person (either above or through or together with any other Subsidiary) owns, directly or indirectly, more than 50% of the stock or other equity interests the holders of which are generally entitled to vote for the election of the board of directors or other governing body of such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Except as set forth in this Amendment No. 3, the provisions of the Second A&R Agreement remain the same and in full force and effect.

[*Signature Page Follows*]

IN WITNESS WHEREOF, the Parties have caused this Amendment No. 3 to the Second Amended and Restated Consulting Agreement for Non-Employee Chief Executive Officer to be executed as of the date first written above.

---

| | |
|:---|:---|
| **COMPANY** | **COMPANY** |
| PMGC Holdings Inc. | PMGC Holdings Inc. |
| By: | /s/ George Kovalyov |
|  | George Kovalyov |
|  | Director |
| **CONSULTANT** | **CONSULTANT** |
| GB Capital Ltd | GB Capital Ltd |
| By: | /s/ Graydon Bensler |
|  | Graydon Bensler |
|  | Director |

---