Document:

Exhibit
10.13

 

POINT
Biopharma USA Inc.

4850
West 78th Street

Indianapolis,
Indiana 46268

United
States of America

 

POINT
Biopharma USA Inc. Employment Agreement

 

     

     

    

 

POINT
Biopharma USA Inc. Employment Agreement

 

to
be effective as of and from the

Effective
Date (as defined below)

 

PRIVATE
AND CONFIDENTIAL

 

Jessica
Jensen

 

Dear
Jessica:

 

		Re:	Terms
                                                                                                                                                                                                             of Employment of Jessica Jensen (“you” or
                                                                                                                                                                                                             the “Employee”) with POINT
                                                                                                                                                                                                             Biopharma USA Inc. (the “Company”)

 

This
Agreement (as defined below) sets out the terms and conditions of your employment by the Company and will constitute your employment
agreement.

 

For
and in consideration of the promises herein and other valuable consideration, the parties agree as follows:

 

Article
1 Interpretation

 

1.1       Definitions

 

For
the purposes of this Agreement:

 

		1.1.1	“$”
                                         means US dollars.

 

		1.1.2	“Affiliate”
                                         means with respect to a Person, any Person that,
                                         directly or indirectly, Controls, is Controlled by, or is under common Control with such
                                         Person, including, without limitation, any partner, officer, director, or member of such
                                         Person and any venture capital fund now or hereafter existing that is Controlled by or
                                         under common Control with one or more general partners or shares the same management
                                         company or investment manager with such Person, and including any parent or subsidiary
                                         company of such Person.

 

		1.1.3	“Agreement”
                                         means this employment agreement and the exhibits
                                         hereto.

 

		1.1.4	“Base
                                         Salary” shall have the meaning set out
                                         in Section 3.2 (Base Salary).

 

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		1.1.5	“Business”
                                         means the business of the Company described in Exhibit
                                         1.1.5.

 

		1.1.6	“Business
                                         Information” means all business information,
                                         including information regarding:

 

		.1      	commercial
                                         strategies, business plans, business methods, corporate plans, management systems, finances,
                                         new business opportunities, marketing or sales of any past, present or future product
                                         or service, including, without limitation, sales targets and statistics, market share
                                         and pricing statistics marketing surveys and plans, market research reports, sales techniques,
                                         price lists, discount structures, advertising and promotional material;

 

		.2      	financial
                                         information, compensation and investment arrangements, terms of agreements, financial
                                         structure, financial position, financial results or other financial affairs, actual or
                                         proposed transactions or investments or other confidential information; and

 

		.3      	the
                                         name, address, telephone number, contact name and identity of each of the Key Contacts,
                                         the nature of their business operation, and all confidential aspects of the business
                                         relationship or potential business relationship or potential business relationship with
                                         the Company or any Affiliate of the Company.

 

		1.1.7	“Cause”
                                         shall have the meaning set out in Section 6.6 (Termination by Company for Cause).

 

		1.1.8	“Executive
                                         Vice President, Clinical Development” shall
                                         have the meaning set out in Section 2.1 (Position and Duties).

 

		1.1.9	“Change
                                         in Control” shall have the meaning given
                                         in the 2020 Equity Incentive plan of point Biopharma Inc. or any successor plan, as amended
                                         from time to time (the “Equity Incentive
                                         Plan”).

 

		1.1.10	“Confidential
                                         Information” means all non-public information,
                                         knowledge, or data pertaining to the business, affairs and technology of the Company
                                         or any Affiliate of the Company, including:

 

		.1      	Technical
                                         Information and Business Information;

 

		.2      	Work
                                         Product; and

 

		.3      	information
                                         secured by the Company from Persons subject to an obligation of confidentiality;

 

and,
in all cases, all copies and tangible and intangible embodiments thereof, in whatever form or medium, all whether furnished or
prepared before or after the Effective Date.

 

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		1.1.11	“Control”
                                         or “Controls”
                                         means, for purposes of the definition of “Affiliates”
                                         above only, the power, directly or indirectly, either
                                         to (a) vote 50% or more of the equity or other interests of a Person having voting power
                                         for the election of directors (or persons performing similar functions) of such Person
                                         or (b) direct or cause the direction of the management and policies of such Person, whether
                                         by contract or otherwise.

 

		1.1.12	“Effective
                                         Date” shall have the meaning set out
                                         in Section 2.4.

 

		1.1.13	“Financing”
                                         means capital secured for, and accepted by, the Company
                                         including without limitation through any purchase, transfer or other disposition of any
                                         debt, equity or other securities of the Company.

 

		1.1.14	“Inventions”
                                         means any and all discoveries, developments, enhancements,
                                         improvements, concepts, formulas, processes, ideas, techniques, writings, whether or
                                         not reduced to practice, industrial and other designs, patents, patent applications,
                                         provisional patent applications, continuations, continuations-in-part, substitutions,
                                         divisionals, reissues, renewals, re-examinations, extensions, supplementary protection
                                         certificates or the like now-how trade secrets or utility models copyrights and others
                                         forms of intellectual property including all applications, registrations and related
                                         foreign applications filed and registrations granted thereon.

 

		1.1.15	“Key
                                         Contacts” means the actual and potential:
                                         licensors, licensees, sublicensees, collaborators, partners, investors, shareholders,
                                         acquirers lenders or merger candidates, suppliers and customers of the Company or any
                                         Affiliate of the Company.

 

		1.1.16	“Notice
                                         Period” shall have the meaning set out
                                         in Section 6.1 (Termination by Employee)

 

		1.1.17	“Objectives”
                                         shall have the meaning set out in Section 3.3 (Annual
                                         Bonus)

 

		1.1.18	“Option
                                         Agreement” shall have the meaning set
                                         out in Section 3.4 (Stock Options).

 

		1.1.19	“Person”
                                         means any individual, partnership, joint venture,
                                         syndicate, sole proprietorship, association, limited liability company, company or corporation
                                         with or without share capital, trust, trustee, executor, administrator, or other legal
                                         personal representatives, regulatory body or agency, government or governmental agency,
                                         authority or entity howsoever designated or constituted.

 

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		1.1.20	“Technical
                                         Information” means all technical information
                                         of the Company or any Affiliate of the Company, including information regarding knowledge
                                         or data of an intellectual, technical, scientific or industrial nature, including compositions
                                         of matter, techniques, specifications, standards, technical data, uses of matter, practices,
                                         methods, computer data, scientific strategies and concepts, clinical and regulatory strategies
                                         and concepts, test data, research data, analytical and quality control data, formulation
                                         data, manufacturing data, development information, filings for the protection of intellectual
                                         property protection, drawings, specifications, designs, plans, proposals, reports, formulas,
                                         compilations, research data and manuals.

 

		1.1.21	“Term
                                         of Employment” means the period from
                                         the Effective Date until the date on which your employment with the Company ceases in
                                         accordance with Article 6.

 

		1.1.22	“Termination
                                         Date” shall have the meaning set out
                                         in Section 6.7.

 

		1.1.23	“Work
                                         Product” means any and all works of authorship,
                                         including

 

		.1      	all
                                         Inventions and possible Inventions relating to the Company’s
                                         Business resulting from any work performed by you for the Company that you may invent
                                         or co-invent during your involvement in any capacity with the Company, except those Inventions
                                         invented by you entirely on your own time that do not relate to the Company’s
                                         Business or do not derive from any equipment, supplies, facilities, Confidential Information
                                         or other information, gained, directly or indirectly, by you from or through your involvement
                                         in any capacity with the Company; and

 

		.2      	all
                                         Technical Information and Business Information resulting from any work performed by you
                                         for the Company; and includes all analyses, compilations, studies, reports or other documents
                                         prepared by you based upon or including any such information, data or knowledge of the
                                         Company or any Affiliate of the Company.

 

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Article
2 Position, Duties and Service

 

2.1       Position
and Duties

 

You
will be employed by and will serve the Company, having the duties and functions customarily performed by, and having all responsibilities
customary to, Executive Vice President, Clinical Development, including those described in Exhibit 2.1.

 

You
will report directly to the Chief Executive Officer. The rights of the Company as provided in this Agreement may be exercised
on behalf of the Company only by the Board, or by a committee or person expressly designated for such purposes by the Board.

 

In
the event that the Employee is made a party or threatened to be made a party to any action, suit, or proceeding, whether civil,
criminal, administrative, or investigative (a “Proceeding”),
other than any Proceeding between the Employee and the Company with respect to this Agreement, arising in the course and scope
of Employee’s employment with the Company, then by reason of the fact that Employee
is or was a director or officer of the Company or its Affiliate, or is or was serving at the request of the Company as a director,
officer, member, employee, or agent of another corporation or a partnership, joint venture, trust, or other enterprise, the Employee
shall be indemnified and held harmless by the Company to the maximum extent permitted under applicable law and the Company’s
bylaws from and against any liabilities, costs, claims, and expenses, including all costs and expenses incurred in defense of
any Proceeding (including attorneys’ fees); provided that Employee shall not be indemnified
and held harmless by the Company for any willful misconduct or intentional violation of law committed by Employee. Costs and expenses
incurred by Employee in defense of such Proceeding (including attorneys’ fees) shall
be paid by the Company in advance of the final disposition of such litigation upon receipt by the Company of: (i) a written request
for payment; (ii) documentation
to the satisfaction of the Company evidencing the incurrence, amount, and nature of the costs and expenses for which payment is
being sought; and (iii) an executed written agreement in a form provided by the Company under which Employee shall be required
to repay the amounts so paid if it shall ultimately be determined that Employee is not entitled to be indemnified by the Company
under this Agreement. Employee shall be entitled to coverage under the Company’s
directors’ and officers’ liability insurance
in effect from time to time providing coverage to Employee on terms that are no less favorable than the coverage provided to other
similarly situated employees of the Company or any successor.

 

2.2       Changes
to Duties

 

Your
duties and functions pertain to the Company or any Affiliate of the Company and may be varied or added to from time to time by
the Board in its discretion.

 

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2.3       Service
to the Company

 

During
the Term of Employment, you will;

 

		2.3.1	well
                                         and faithfully serve the Company, at all times act in the best interests of the Company,
                                         and, to the extent necessary to discharge the responsibilities assigned to you hereunder,
                                         you will use your best efforts to perform faithfully and efficiently such responsibilities;

 

		2.3.2	apply
                                         your skill and experience to the performance of your duties in such employment;

 

		2.3.3	comply
                                         with all policies and procedures from time to time formulated by the Company;

 

		2.3.4	devote
                                         your full business time, attention and energies to the business and affairs of the Company;
                                         and

 

		2.3.5	not,
                                         without the prior approval of the Company, carry on or engage in any other business or
                                         occupation or become a director, officer, employee or agent of or hold any position or
                                         office with any other company, firm or person other than the Company, except as disclosed
                                         in Exhibit 2.3.5 or as a volunteer for a non-profit organization, engaging in civic,
                                         religious, educational or other community activities, or maintaining personal investments
                                         or a personal holding company, provided that such activities do not materially interfere
                                         with the performance of your duties under this Agreement; and further provided that you
                                         may not engage in the outside activities listed in Exhibit 2.3.5 for a period lasting
                                         longer than one (1) year from the Effective Date of this Agreement.

 

2.4       Term

 

The
terms and conditions of this Agreement shall have effect as and from August 17, 2020 (the “Effective Date”)
and throughout the Term of Employment.

 

Article
3 Compensation Generally

 

3.1       No
Other Compensation or Benefits

 

You
will be compensated as set out in this Article. Unless otherwise agreed by the parties in writing, you expressly acknowledge and
agree that you will not be entitled by reason of your employment by the Company or by reason of any termination of such employment,
to any remuneration, compensation, severance, damages or benefits other than as expressly set forth in this Agreement, the Option
Agreement and as expressly required by applicable employment standards legislation.

 

3.2       Base
Salary

 

During
the Term of Employment, the Company will pay you an annual base salary (the “Base
Salary”) at the rate of $325,000 per annum, payable on a bi-weekly basis (26
pay periods), subject to applicable withholdings and deductions. The Base Salary will be reviewed on an annual basis, or as otherwise
determined by the Company. Any merit increases are subject to discretion of the Board. As a managerial employee of the Company,
you are not entitled to overtime pay.

 

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3.3       Annual
Bonus

 

During
the Term of Employment, you will be eligible for a target cash bonus of up to 25% of your then-current Base Salary (the “Annual
Bonus”) if the Board (or the Company’s
Compensation Committee), in its sole discretion, determines that the Company has met its short-term and long-term business performance
objectives and that you have met your personal performance objectives (together, the “Objectives”),
which Objectives will be established on an annual basis by the Board (or the Company’s
Compensation Committee). Payment of the Annual Bonus (less all applicable statutory deductions and withholdings by the Company)
will be made to you once approved by the Board (or Company’s Compensation Committee),
and within 30 days after the Board has approved the corporate yearend financial statements (“Bonus Approval Date”),
provided that, except as otherwise set out in this Agreement, as of the Bonus Approval Date, you are employed with the Company.
For the avoidance of doubt, an Annual Bonus is considered earned and payable as of the Bonus Approval Date provided that you are
employed as of such date. The target cash bonus percentage will be reviewed by the Board (or the Company’s
Compensation Committee) on at least an annual basis, for upward adjustment, based on your and the Company’s
performance, or on terms as otherwise agreed between you and the Company.

 

3.4       Signing
Incentives

 

A
signing bonus of $60,000 will be paid on the last pay cycle of December 2020, provided that you remain employed by the Company
on the date of payment, and will be subject to applicable withholdings and deductions.

 

Subject
to the approval of Board of Point BioPharma Inc. (the “Parent”),
you will be granted a nonqualified option to purchase 35,000 shares of the Common Stock of Parent (the “Option”),
subject to the terms and conditions applicable to options granted under the Equity Incentive Plan and the stock option agreement
(together with the Equity Incentive Plan, the “Option Agreement”).
The exercise price per share of the Option will be equal to the fair market value per share of the Parent’s
Common Stock on the date the Option is granted, as determined by the Parent Board. You will vest in 100% of the Option shares
after one month of continuous service, as described in the Option Agreement.

 

Subject
to achievement of the Objectives, as determined by the Board (or the Company’s
Compensation Committee), you will be eligible to receive your Annual Bonus for the 2020 fiscal year, which, if earned, shall be
calculated as if you were employed by the Company as of January 1, 2020.

 

For
the 2020 calendar year only, and subject to achievement of the Objectives, as determined by the Board (or the Company’s
Compensation Committee), you may be entitled to receive additional grants of stock options for a number of shares of Common Stock
of Parent up to a 2020 Base Salary by 25% (i.e. $325,000 X 25% =81,250 shares), which shall be subject to the terms and conditions
of the Equity Incentive Plan and the applicable award agreement. Your entitlement to such a grant shall be determined as
if you were employed by the Company as of January 1, 2020.

 

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3.5       Stock
Options

 

From
time to time, at the sole discretion of the Parent Board, you may be entitled to receive additional grants of stock options for
a number of shares of Common Stock of Parent up to a number of shares determined by multiplying your then-current Base Salary
by 20% (e.g. $325,000 X 20% = 65,000 shares). Any such award shall be subject to the terms and conditions of the Equity Incentive
Plan and the applicable award agreement.

 

Except
only as expressly required by applicable employment standards legislation, as amended, or expressly required by the terms of this
Agreement or the Option Agreement, as of the Termination Date, there shall be no further awards of or vesting of stock options,
restricted stock units, or other equity-based compensation, and any unvested stock options, restricted stock units, or other equity-based
compensation shall immediately be cancelled and terminate, and you waive any entitlement to damages in lieu thereof whether pursuant
or attributable to any common law notice period or otherwise.

 

3.6       Stock
Options in the Event of a Change in Control

 

Subject
to the terms and conditions of the Option Agreement, in the event that as of the date of a Change in Control, you hold unvested
shares subject to the Option, such unvested shares shall immediately vest and be exercisable in accordance with the terms and
conditions of the Option Agreement.

 

3.7       Reimbursement
for Expenses

 

As
of the Effective Date, the Company agrees to reimburse you for reasonable travelling and other expenses incurred in the course
of employment. For all such expenses, you will be required to keep proper accounts and to furnish such statements and vouchers
to the Company in accordance with the Company’s
expense reimbursement policies in effect from time to time.

 

3.8       Vacation

 

During
the Term of Employment, you will be entitled to 20 working days’
vacation per calendar year, pro-rated for any partial year of employment. On your five-year anniversary
you will be entitled to 25 working days’ vacation per calendar year, beginning on
January 1 of the calendar year immediately following your five-year anniversary. The Company reserves the right to request that
vacations be scheduled so as not to conflict with business needs. While you must take at least your minimum statutory entitlement
to vacation (if any) each year, any unused vacation balance remaining at calendar year end in excess of any applicable minimum
statutory vacation entitlements may be carried over into the subsequent calendar year to a cumulative maximum not exceeding
40 working days of vacation. Subject to applicable employment standards legislation, any vacation carried over in excess of 40
days will be forfeited.

 

Employee
shall be entitled to paid holidays offered by the Company to its employees from time to time. You also will be entitled to any
other paid time off (excluding vacation) or leave benefits made available by the Company to its similarly situated executives
from time to time or required by applicable law.

 

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3.9       Benefits

 

During
the Term of Employment, you will be eligible to participate in all group medical, prescription drug, dental, vision and life insurance
benefits as are made available by the Company to its executives from time to time. You hereby acknowledge that coverage under
any benefit plan, or alternate plan arrangement as agreed upon in effect from time to time is subject to availability and other
requirements of the applicable insurer and that the components of the benefits plan may be amended, modified or terminated from
time to time by the Company in its sole discretion, and that this may include terminating or changing carriers.

 

Article
4 Intellectual Property Rights

 

4.1       Obligation
of Confidentiality

 

You
understand and agree that in the course of your employment with the Company, both before and after the Effective Date, you have
obtained and will obtain knowledge of and access to Confidential Information. You agree that unless the Company otherwise agrees
in writing or except as required by law or disclosed pursuant to a confidential disclosure agreement executed by the Company and
the recipient:

 

		4.1.1	you
                                         will keep all Confidential Information learned or acquired by you, disclosed to you or
                                         developed by you, as a result of or in connection with or during the course of your employment
                                         by the Company, whether before or after the Effective Date, strictly confidential;

 

		4.1.2	all
                                         Confidential Information shall, as between you and the Company, be and remain the property
                                         of the Company; and

 

		4.1.3	you
                                         will not at any time, during or after your employment with the Company, disclose any
                                         Confidential Information to any Person other than the Company, or use any Confidential
                                         Information for your benefit or the benefit of any Person other than the Company.

 

The
above obligations with respect to Confidential Information shall not apply to Confidential Information which has become available
to the general public through no fault of your own or that you are required to disclose pursuant to law or regulation, so long
as you provide advance written notice to the Company of any such required disclosure and provide the Company with the opportunity
to contest any such disclosure. You acknowledge that no license under any trademark, patent, copyright, or any other intellectual
property right, now existing or hereafter acquired or created, is either granted or implied by the disclosure of Confidential
Information to you.

 

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4.2       Disclosure
of Work Product

 

You agree to promptly and fully inform the Company of all Work
Product, whether or not patentable, throughout the course of your involvement, in any capacity, with the Company or any Affiliate
of the Company, whether or not developed before or after your execution of this Agreement. On your ceasing to be employed by the
Company, you will immediately deliver to the Company all Work Product. You further agree that all Work Product shall at all times
be the Confidential Information of the Company.

 

4.3       Assignment of
Rights

 

You acknowledge that all Work
Product consisting of copyrightable subject matter is “work made for hire”
as defined in the Copyright Act of 1976 (17 U.S.C. § 101), and such copyrights are therefore
owned by the Company. You will assign, and do hereby assign, to the Company or, at the option of the Company and upon notice from
the Company, to the Company’s designee, your entire right, title and interest in and
to all Work Product and all other rights and interests of a proprietary nature in and associated with your Work Product, including
all patents, copyrights, trademarks, and applications filed therefore and other registrations granted thereon, including the right
to sue, counterclaim, and recover for all past, present, and future infringement, misappropriation, or dilution thereof. To the
extent that you retain or acquire legal title to any such rights and interests, you hereby grant to Company a perpetual, irrevocable,
worldwide, royalty-free, exclusive, sublicensable right and license to exploit, exercise and otherwise use such Work Product as
though Company were the only owner of such Work Product. You agree that the Company’s
rights hereunder shall attach to all Work Product, notwithstanding that it may be perfected or reduced to specific form after you
have terminated your relationship with the Company. You further agree that the Company’s
rights hereunder shall extend to every country of the world.

 

4.4       Moral Rights

 

You hereby irrevocably waive in whole
all moral rights and agree never to assert any moral rights which you may have in your Work Product, including, without
limitation, the right to the integrity of such Work Product, the right to be associated with the Work Product, the right to
restrain or claim damages for any distortion, mutilation or other modification or enhancement of the Work Product and the
right to restrain, the use or reproduction of the Work Product in any context and in connection with any product, service,
cause or institution and you further confirm that the Company may use or alter any such Work Product as the Company sees fit
in its absolute discretion.

 

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4.5       Goodwill

 

You hereby agree that all goodwill you have established or may
establish with Key Contacts relating to the business or affairs of the Company or any Affiliate of the Company, both before and
after the Effective Date, shall, as between you and the Company, be and remain the property of the Company exclusively, for the
Company to use, alter, vary, adapt and exploit as the Company shall determine in its discretion.

 

4.6       Assistance

 

You hereby agree to assist the
Company, at the Company’s request and expense, both during your Term of Employment
and after termination of your Term of Employment for any reason whatsoever, in:

 

		4.6.1	making patent applications for any Work Product, including instructions to lawyers and/or patent
agents as to the characteristics of such Work Product in sufficient detail to enable the preparation of a suitable patent specification,
to execute all formal documentation incidental to an application for letters patent and to execute assignment documents in favor
of the Company for such applications;

 

		4.6.2	making applications for all other forms of intellectual property registration relating to any
Work Product;

 

		4.6.3	prosecuting and maintaining the patent applications and other intellectual property relating
to your Work Product; and

 

		4.6.4	registering, maintaining, defending, and enforcing the patents and other intellectual property
registrations relating to your Work Product.

 

You hereby irrevocably designate and appoint
the Company as your agent and attorney-in-fact, coupled with an interest, to act for and on your behalf to execute and file any
document and to do all other lawfully permitted acts to further the intent of this Section 4 with the same legal force and effect
as if executed by you.

 

4.7       Assistance
with Proceedings

 

You
further agree to lend such assistance as you can, at the Company’s request and
expense in connection with any enforcement of the Company’s intellectual
property rights or defense to an allegation of infringement of another Person’s
intellectual property rights, invalidity proceedings respecting, opposition to, or intervention regarding any applications
for letters patent, copyright or trademark or other proceedings relating to intellectual property or applications for
registration thereof.

 

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4.8       Trade Secrets

 

Pursuant to the Defend Trade
Secrets Act of 2016, you acknowledge and understand that an individual may not be held criminally or civilly liable under any federal
or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local
government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating
a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.
Further, you acknowledge and understand that an individual who files a lawsuit for retaliation by an employer for reporting a suspected
violation of law may disclose the employer’s trade secrets to the attorney and use
the trade secret information in the court proceeding if the individual: (a) files any document containing the trade secret under
seal; and (b) does not disclose the trade secret, except pursuant to court order.

 

Article 5 Conflicts and Restrictive Covenant

 

5.1       Disclosure
of Conflicts of Interest

 

During your employment with the Company, you will promptly,
fully and frankly disclose to the Company in writing:

 

		5.1.1	the nature and extent of any interest you have or may have, directly or indirectly, in any
contract or transaction or proposed contract or transaction of or with the Company or any Affiliate of the Company or any Key Contact;

 

		5.1.2	every office you may hold or acquire, and every property you may possess or acquire, whereby
directly or indirectly, a duty or interest might be created in conflict with the interests of the Company or any Affiliate of the
Company, or your duties and obligations under this Agreement; and

 

		5.1.3	the nature and extent of any conflict referred to in Sections 5.1.1 and 5.1.2.

 

5.2       Avoidance
of Conflicts of Interest

 

You acknowledge that it is the policy
of the Company that all interests and conflicts of the sort described in Section 5.1 (Disclosure of Conflicts of Interest) be
avoided, and you agree to comply with all policies and directives of the Company from time to time regulating, restricting or
prohibiting circumstances giving rise to interests or conflicts of the sort described in Section 5.1. During your employment
with the Company, you shall not enter into any agreement, arrangement or understanding with any other Person that would in
any way conflict or interfere with this Agreement or your duties or obligations under this Agreement or that would otherwise
prevent you from performing your obligations hereunder, and you represent and warrant that you have not prior to the
Effective Date entered into any such agreement, arrangement or understanding.

 

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5.3       Restrictive
Covenant

 

During the Term of Employment and for
a period of 6 months thereafter for Sections 5.3.1 and 5.3.2, and a period of 18 months thereafter for Section 5.3.3, regardless
of the reason for such termination, you will not, either alone or in partnership or in conjunction with any Person, whether as
principal, agent, employee, director, officer, shareholder, consultant or in any capacity or manner whatsoever, whether directly
or indirectly:

 

		5.3.1	in the same or substantially similar capacity as you performed for the Company, carry on or
be engaged in, or advise, or give financial assistance to, any business, enterprise or undertaking within the United States of
America and its territories and possessions (the “Restricted Territory”)
that:

 

		1.	is involved in the business or in the sale, distribution, development or supply of any product
or service that is competitive with the Business or any product or service of the Business; or

 

		2.	competes with the Company with respect to any aspect of the Business; provided, however, that
the foregoing will not prohibit you from acquiring, solely as an investment and through market purchases, securities of any such
enterprise or undertaking which are publicly traded, so long as you are not part of any control group of such entity and such securities,
which if converted, do not constitute more than 5% of the outstanding voting power of that entity;

 

		5.3.2	agree to be employed, in the same or substantially similar capacity as you performed for the
Company, within the Restricted Territory by any Person that was a Key Contact (but in any case, with whom you have had business
contact during the two years prior to the termination of the Term of Employment, or with whom you have had business contact in
the course of your employment with the Company if less than 24 months) for any business purpose that is competitive with the Business;
or

 

		5.3.3	solicit, divert, entice or take away from the Company or any Affiliate of the Company or attempt
to do so or solicit for the purpose of doing so, any business of the Company or any Affiliate of the Company, or any Person that
was an employee or contractor of the Company or any Affiliate of the Company (but in any case, with whom you have had business
contact during the 24 months prior to the termination of the Term of Employment, or with whom you have had business contact in
the course of your employment with the Company if less than 24 months) to terminate,
discontinue or alter to the detriment of the Company, his, her or its employment relationship with the Company or its Affiliates.

 

    14 

     

    

 

5.4         Provisions Reasonable

 

You hereby acknowledge and agree that:

 

		5.4.1	during the course of your employment by the Company, you will acquire knowledge of, and you
will come into contact with, initiate and established relationships with Key Contacts, and that in some circumstances you may be
the senior or sole representative of the Company or any Affiliate of the Company dealing with such Persons; and

 

		5.4.2	in light of the foregoing, the provisions of Section 5.3 (Restrictive Covenant) are reasonable
and necessary for the proper protection of the business, property and goodwill of the Company, including trade secrets and confidential
information, and the Business and any Affiliate of the Company.

 

5.5         Right
to Use Employee’s Name and Likeness

 

During the Term of Employment, you hereby
grant to the Company the right to use your name, likeness and/or biography in connection with services performed by you under
this Agreement and in connection with the advertising or exploitation of any project with respect to which you perform services
for the Company.

 

Article 6 Termination

 

6.1         Termination
by Employee

 

You may resign from your position
at any time, but only by giving the Company at least 30 days prior written notice of the effective date of your resignation (the
“Notice Period”). On the giving
of any such notice, the Company may accelerate your resignation, in lieu of the Notice Period or any part thereof, by notice in
writing to you and payment to you of any compensation and continuation of benefits due to you for the balance of the 30-day Notice
Period pursuant to this Agreement, less applicable statutory deductions.

 

6.2        Termination
by Company Without Cause

 

The Company may terminate your employment at any time without
Cause (as defined below) in accordance with the terms set out in this Agreement and by giving you written notification of termination.
In the event that your employment is so terminated, you will have the common law duty to mitigate your damages.

 

    15 

     

    

 

6.3         Consequences
of Termination Without Cause Unrelated to a Change in Control Or Resignation for Good Reason

 

Subject to Section 6.4, if your
employment by the Company is terminated by the Company without Cause unrelated to a Change in Control or you resign with Good Reason,
the Company shall provide you with (i) a lump sum cash amount equal to 25% of your then current Base Salary plus 25% of your prior
year’s Annual Bonus (if any); and (ii) provided that you have been employed by the
Company for a minimum of 3 consecutive years beginning on the Effective Date, a lump sum cash amount equal to l/12th of your then
current Base Salary multiplied by a number equal to your number of full years of employment with the Company, provided that you
execute and deliver a release of claims in favor of the Company in a form satisfactory to the Company. Any amount due and payable
under this Section 6.3 shall be paid no later than thirty (30) days following your termination of employment by the Company without
Cause or by you with Good Reason. Other than as provided in this Section and Section 6.7, you will not be entitled to any additional
notice, pay in lieu of notice, severance or other payments whether pursuant to the common law or otherwise upon termination of
your employment without Cause unrelated to a Change in Control or resignation for Good Reason pursuant to this Section 6.3. For
purposes of this Agreement, “Good Reason” means,
without your advance consent, (a) decrease in your Base Salary or target percentage for Annual Bonus, other than any across-the-
board decrease of Base Salary or target percentage for Annual Bonus applied to similarly- situated employees; or (b) relocation
of your primary work location resulting in a commuting distance increase of 50 miles . This Agreement may only be terminated for
Good Reason if: (a) you provide written notice to the Company of any action defined as Good Reason within fifteen (15) days of
the date on which such action first occurs; (b) you provide the Company with thirty (30) days to remedy such action (the “Cure
Period”); (c) the Company fails to remedy such action within the Cure Period;
and (d) you resign within ten (10) days of the expiration of the Cure Period. Good Reason shall not include any action that is
remedied by the Company within the Cure Period.

 

6.4         Consequences
of Termination Without Cause After a Change in Control

 

If your employment by the Company is terminated by the Company
at the same time as, or within the twelve (12) month period following, the consummation of a Change in Control, or within the thirty
(30) day period prior to the date of the consummation of a Change in Control where such Change in Control was under consideration
by the Board at the time of your termination, then the following terms shall apply in substitution of the provisions in Section
6.3 above:

 

		6.4.1	the Company shall provide you with (i) a lump sum cash amount
                                                                                                            equal to 50% of your then current Base Salary plus 50% of your prior year’s
                                                                                                            Annual Bonus (if any); and (it) provided that you have been employed by the Company for a minimum of 3 consecutive years
                                                                                                            beginning on the Effective Date, a lump sum cash amount equal to l/12th of your then current Base Salary multiplied by a
                                                                                                            number equal to your number of full years of employment with the Company, provided that you execute
and deliver a release of claims in favor of the Company in a form satisfactory to the Company. Any amount due and payable under
this Section 6.4.1 shall be paid no later than thirty (30) days following your termination of employment by the Company without
Cause.

 

    16 

     

    

 

Other than as provided in this Section and Section 6.7 below,
you will not be entitled to any additional vesting, notice, pay in lieu of notice, severance or other payments whether pursuant
to the common law or otherwise upon termination of your employment without Cause after a Change in Control pursuant to this Section
6.4.

 

6.5       Termination
in the Event of Death or Disability

 

Your employment shall terminate
immediately upon your death. The Company may terminate your employment due to your Disability at any time upon written notice.
If this Agreement terminates due to death or Disability, the Company shall pay you or your estate, as applicable, any amounts which
may be due per the terms of this Agreement and remaining unpaid at the time of the termination of employment, including Base Salary
earned through the last day of employment and Annual Bonus considered earned on or before the last day of employment. “Disability”
means physical or mental illness or injury, which prevents you from performing your material duties,
with or without reasonable accommodation, for a period of ninety (90) calendar days during any twelve (12) month period.

 

6.6       Termination
by Company for Cause

 

Notwithstanding any other provision
in this Agreement, the Company may at any time summarily terminate your employment, without any obligation to provide notice or
pay in lieu of notice, for “Cause”, in
which case you will only be entitled to receive Base Salary earned through the last day of employment and benefits in accordance
with the applicable plan documents. In this Agreement, “Cause”
means any of the following:

 

		6.6.1	commission of theft, embezzlement, fraud, obtaining funds or property under false pretenses
or similar acts of misconduct with respect to the property of the Company, any Affiliate of the Company, the Key Contacts, or their
respective directors, officers, employees or contractors;

 

		6.6.2	oral or written representations made by you to the Company or any Affiliate of the Company
with the intent to deceive or mislead; commission of an act of malfeasance, dishonesty or breach of trust against the Company,
any Affiliate of the Company, the Key Contacts, or their respective directors, officers, employees or contractors, including a
material breach by you of any of your covenants or obligations under Section 5.1 (Disclosure of Conflicts of Interest), Section
5.2 (Avoidance of Conflicts of Interest) or Section 5.3 (Restrictive Covenant);

 

    17

     

    

 

		6.6.3	the entering of a guilty plea by you or your conviction for a serious criminal offence which impacts adversely on the Company
or any Affiliate of the Company; or

 

		6.6.4	repeated and continued failure to fulfill your duties or obligations of employment; your breach
of any material obligations and covenants under this Agreement; your material violation of any written Company policy, including
those set forth in any employee handbook or manual; or your use of illegal drugs or your abuse of alcohol or prescription drugs
which impacts your job performance.

 

Termination for such
“Cause” shall only occur if you have
been given written notice of such failure to fulfill your duties or obligations and you have failed to cure any such failure(s)
within thirty (30) days. In the event the Company dismisses you for cause pursuant to this Section 6.6 and, subsequently, a court
or arbitrator rules that the Company did not have cause, you hereby agree that you will only be entitled to damages in an amount
equal to the compensation that would have been due to you had the Company terminated your employment pursuant to Section 6.3 (Consequences
of Termination Without Cause), less any amounts earned by you in mitigation, excluding any remedies available under statute or
common law for claims related to discrimination, wrongful discharge or retaliation; provided that you choose not to execute a release
of claims in exchange for the payments due to you in the event of a Termination Without Cause.

 

6.7       Termination
Date and Full Satisfaction

 

“Termination Date”
means the earlier of: (i) the date on which you are notified in writing by the Company of the termination
of your employment for any reason, and (ii) the date on which you notify the Company of your resignation from employment for any
reason, but in any case, without regard to any payment or notice period to which you might then be entitled.

 

It is agreed that as a result of the termination of your
employment, for any reason, you shall not be entitled to any notice, fee, salary, severance or other payments, benefits or
damages in excess of what is specified or provided for in Section 6.1 (Termination by Employee), Section 6.3 (Consequences of
Termination Without Cause Unrelated to a Change in Control or Resignation for Good Reason), Section 6.4 (Consequences of
Termination Without Cause After a Change in Control), Section 6.5 (Death and Disability) and Section 6.6 (Termination by
Company for Cause), whichever is applicable, except that you shall receive all Base Salary, earned Annual Bonus, and other
amounts, if any, which are then due and owed to you as of the Termination Date, in addition to any accrued but unpaid
vacation pay and any other minimum entitlements expressly required to be provided to you by applicable employment standards
legislation; provided that nothing in this Agreement is intended to provide you with a right to any unearned, prorated Bonus
payment in the event of a Termination for Cause or Termination by Employee (without Good Reason). Payment of any amounts
pursuant to Section 6.1 (Termination by Employee), Section 6.3 (Consequences of Termination Without Cause Unrelated to a
Change in Control or Resignation for Good Reason), Section 6.4 (Consequences of Termination Without Cause After a Change in
Control), Section 6.5 (Death and Disability) and Section 6.6 (Termination by Company for Cause) shall be subject to the
withholding of all applicable statutory deductions by the Company. You will be required to execute a standard release of
claims document in a form satisfactory to the Company in order to receive any payments in excess of those required by
applicable employment standards legislation.

 

    18

     

    

 

Article 7 General

 

7.1       Agreement Confidential

 

Both parties shall keep the terms and conditions of this Agreement
confidential except as may be required to enforce any provision of this Agreement or as may otherwise be required by any law, regulation
or other regulatory or securities requirement.

 

7.2       Binding Effect

 

This Agreement shall be binding upon and inure to the benefit
of the Company and its successors and assigns. Your rights and obligations contained in this Agreement are personal and such rights,
benefits and obligations shall not be voluntarily or involuntarily assigned, alienated or transferred, whether by operation of
law or otherwise, without the prior written consent of the Company. This Agreement shall otherwise be binding upon and inure to
the benefit of your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, legatees
and permitted assigns.

 

7.3       Counterparts

 

This Agreement may be executed in several counterparts (including
by fax or electronic transmission), each of which when so executed shall be deemed to be an original and shall have the same force
and effect as an original but such counterparts together shall constitute but one and the same instrument.

 

7.4       Entire Agreement

 

The terms and conditions of this Agreement are in addition
to and not in substitution for the obligations, duties and responsibilities imposed by law on employees of corporations
generally, and you agree to comply with such obligations, duties and responsibilities. Except as otherwise provided in this
Agreement, this Agreement constitutes the entire agreement between you and the Company and supersedes all prior negotiations,
proposals and agreements, whether oral or written, with respect to the subject matter hereof, and may only be varied by
further written agreement signed by you and the Company. You further acknowledge and agree that you have not relied on any
representation made by the Company, or any of its employees or agents, except as specifically set out in this Agreement. In
the event of a conflict between the terms of this Agreement and the Option Agreement, the Option Agreement shall control.

 

    19

     

    

 

7.5       Further Assurances

 

Each of the parties hereto will, on demand by the other party
hereto, execute and deliver all such further documents and instruments and do all such further acts and things as the party may
either before or after the execution and delivery of this Agreement reasonably request to evidence, carry out and give full effect
to the terms, conditions, intent and meaning of this Agreement.

 

7.6       Governing Law

 

This Agreement shall be construed and enforced in accordance
with and be governed by and interpreted in accordance with the laws of the State of New York, without regard to the principles
of conflicts of law. Any legal suit, action, or proceeding arising out of or relating to this Agreement shall be instituted only
in the federal courts of the United States of America or the courts of the State of New York in each case located in New York County,
and each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action, or proceeding. The parties
irrevocably and unconditionally waive any objection to venue of any suit, action, or proceeding in such courts and irrevocably
waive and agree not to plead or claim in any such court that any such suit, action, or proceeding brought in any such court has
been brought in an inconvenient forum.

 

7.7       independent
Legal Advice

 

You acknowledge and agree that the Company has given you the
opportunity to seek, and has recommended that you obtain, independent legal advice with respect to the subject matter of this Agreement
and, further, you hereby represent and warrant to the Company that you have either sought independent legal advice or have waived
your right to obtain such advice.

 

7.8       Injunctive Relief

 

You acknowledge and agree that
any breach or threatened breach of any of the provisions of, Article 4 (Intellectual Property Rights), Section 5.1 (Disclosure
of Conflicts of Interest), Section 5.2 (Avoidance of Conflicts of Interest), Section 5.3 (Restrictive Covenant), or Section 7.9
(Non-Disparagement) could cause irreparable damage to the Company, that such harm could not be adequately compensated by the Company’s
recovery of monetary damages, and that in the event of a breach or threatened breach thereof, the Company shall have, in addition
to any and all remedies at law or in equity, the right to seek an injunction, specific performance or other equitable relief as
well as any equitable accounting of all your profits or benefits arising out of any such breach without posting bond or initially
proving actual damages. It is further acknowledged and agreed that the remedies of the Company specified in this Section 7.8 are
in addition to and not in substitution for any rights or remedies of the Company at law or in equity and that ail such rights
and remedies are cumulative and not alternative and that the Company may have recourse to any one or more of its available rights
or remedies as it shall see fit.

 

    20

     

    

 

7.9       Non-Disparagement

 

You shall not, directly or indirectly, make any disparaging
comments or criticisms (whether of a professional or personal nature) to any Person regarding the Company, any Affiliate of the
Company, the Key Contacts, or their respective directors, officers, employees or contractors (or the terms of any agreement or
arrangement of the Company) or regarding your relationship with the Company or any termination of such relationship which, in each
case, are reasonably expected to result in material damage to the business or reputation of the Company, any Affiliate of the Company,
a Key Contact, or any of their respective directors, officers, employees or contractors.

 

7.10       Notice

 

Any notice or other communication required or contemplated to
be given hereunder must be in writing and shall be deemed effective when personally delivered or on the day following the sending
when sent by facsimile transmission, addressed to the appropriate party as set forth below:

 

If to the Employee:

 

Jessica Jensen

 

If to the Company:

 

POINT Biopharma USA Inc.

4850 West 78th St.

Indianapolis, Indiana 46268

Attention: CEO, Joe McCann

 

With a copy to (which shall not constitute notice):

Bass, Berry & Sims PLC

150 Third Avenue South, Suite 2800

Nashville, TN 37201

Attention: Curtis Capeling

 

    21

     

    

 

7.11       Publicity

 

You shall not, without the prior written consent of the Company,
make or give any public announcements, press releases or statements to the public or the press regarding any Work Product or Confidential
Information.

 

7.12       Severability

 

If any provision of this Agreement is determined to be void,
illegal or unenforceable, such provision will be construed to be separate and severable from this Agreement and will not impair
the validity, legality or enforceability of any other provision of this Agreement and the remainder of this Agreement will continue
to be binding on the parties hereto as if such provision had been deleted. If a court finds that any provision of this Agreement
is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such court shall have
the authority under this Agreement to rewrite or reform the restriction(s) at issue to achieve this intent, and such provision(s)
shall be deemed to be written, construed, and enforced as so limited.

 

7.13       409A

 

It is intended that all terms
and payments under this Agreement be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (“Section
409A”). All terms and provisions of this Agreement will be interpreted in a manner
that is consistent with Section 409A if necessary to comply with Section 409A. Any payment due under this Agreement within a period
following Employee’s termination of employment or other event, shall be made on a
date during such period as determined by the Company in its sole discretion, and in accordance with Section 409A. By accepting
this Agreement, Employee hereby agrees and acknowledges that the Company does not make any representations with respect to the
application of Section 409A to any tax, economic or legal consequences of any payments payable to Employee hereunder. Further,
by the acceptance of this Agreement, Employee acknowledges that (i) Employee has obtained independent tax advice regarding the
application of Section 409A to the payments due to Employee hereunder, (ii) Employee retains full responsibility for the potential
application of Section 409A to the tax and legal consequences of payments payable to Employee hereunder and (iii) the Company shall
not indemnify or otherwise compensate Employee for any violation of Section 409A made by the Employee that may occur in connection
with this Agreement.

 

7.14       Surviving Obligations

 

Upon termination of this Agreement for any reason, any
obligations which by their terms or nature, must extend beyond the date of termination to be effective shall survive
termination of t is Agreement. Without limiting the foregoing, your obligations under Article 4 (Intellectual Property
Rights), Section 5.3 (Restrictive Covenant), Section 5.4 (Provisions Reasonable), Article 6 (Termination), and Article 7
(General) shall survive and remain in full force and effect following the termination of this Agreement.

 

    22

     

    

 

7.15       Waiver

 

Any waiver of any breach or default under this Agreement shall
only be effective if made in writing, signed by the party against whom the waiver is sought to be enforced, and no waiver shall
be implied by any other act or conduct or by any indulgence, delay or omission. Any waiver shall only apply to the specific matter
waived and only in the specific instance in which it is waived.

 

7.15       Acceptance

 

If the foregoing terms and conditions are, are acceptable to
you, please indicate your acceptance of and agreement to the terms and conditions of this agreement by signing below on this letter
and on the enclosed copy of this letter in the space provided and by returning the enclosed copy so executed to us. Your execution
and delivery to the Company of the enclosed copy of this letter will create a binding agreement between us.

 

Yours truly,

POINT Biopharma USA Inc.

 

	Per: 	/s/ Joe McCann, CEO	 

Authorized Signatory

 

Acknowledged and Agreed:

 

I acknowledge that I have had sufficient time to thoroughly
review this agreement and obtain the advice that I deem appropriate regarding its terms and conditions. I have read, understand
and voluntarily accept employment with POINT Biopharma USA inc. on the terms and conditions set out above.

 

	July 19, 2020	 	/s/ Jessica Jensen
	 	 	Jessica Jensen

 

    23

     

    

 

Exhibit 1.1.5: Description of the Business

 

The Company is a clinical stage pharmaceutical company focused
on the development and commercialization of radiotherapeutics and theranostic products. The company will compete in therapeutic
categories related to the use of radiotherapeutics and theranostic products in oncology.

 

    24

     

    

 

Exhibit 2.1: Description of Duties –
Executive Vice President, Clinical Development

 

The Executive Vice President,
Clinical Development reports directly to the CEO and leads all clinical development activities, including Managing Biostatistics
 & Programing, Data Management, Clinical Imaging, Clinical Operations, & Clinical Science to support clinical development
activities in US and Canada, and may include jurisdictions in Europe and the rest of the world. In this role you will make strategic
decisions to achieve the Company’s stated development, business and financial objectives.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES

 

		·	Design, oversee and execute on clinical and regulatory
strategy

		·	Serve as the clinical lead in FDA meetings and
Regulatory document preparation including Information Packages, Clinical Study Reports and clinical NDA content (e.g. ISS, SCS,
ISE, SCE, SAP)

		·	Oversee clinical research resourcing including
consultants, CROs and other vendors to ensure optimization and effectiveness of clinical program deliverables within allocated
budgets

		·	Lead Investigator Meetings, Steering Committee
and Advisory Board meetings to gain strategic input into study design, data analysis and patient/physician needs

		·	Set and manage the annual clinical budget

		·	Set the clinical development road map and associated
budgets

		·	Lead KOL engagement to incorporate current concepts
and direction within clinical programs

		·	Support commercialization and launch activities
of product candidates

		·	With the leadership team, create and deploy the
Company’s vision and mission
and short- and long-term objective and strategies

		·	Develop high quality business strategies and plans
ensuring their alignment with short-term and long-term objectives

		·	Work with the leadership team to develop the corporate
objectives to achieve the Company’s
goals

		·	Create an environment that promotes great performance
and positive morale Maintain an awareness of the competitive market landscape, expansion opportunities and industry developments

		·	Ensure that the Company maintains high social responsibility
and ethics wherever it does business

		·	Assess risks to the Company and ensures they are
monitored and minimized Build alliances and partnerships with other organizations, key partners and stakeholders and act as a point
of contact for important partners Represent the Company as required, including attendance of important functions, industry events
and public meetings

		·	Provide timely, accurate and complete reports on
the business to the CEO, and the Board, as requested by the CEO

 

    25

     

    

 

		·	Select and maintain qualified personnel in all
positions within your reporting line

		·	As a HR steward, assure staff performance by coaching,
counseling, mentoring, planning, monitoring and evaluating job performance

 

In collaboration with the CEO and CFO

 

		·	Contribute and participate in the development,
approval and management of short-term and long-range plans and budgets based upon broad organization goals and objectives

		·	Negotiate and manage high level vendor contracts
as needed

 

Corporate Operations

 

		·	Foster a success-oriented and accountable environment
within the organization

		·	Represent the organization at community and industry
functions and increase visibility of the organization within the communities it serves.

		·	Ensure that all activities and operations are performed
in compliance with Health regulators, local, provincial, and federal regulations and laws governing business operations

		·	Maintain and foster a quality culture focused on
GCP/ICH compliance and CFR standards, as applicable

 

    26

     

    

 

Exhibit 2.3.5: Outside Activities

 

Lantheus Medical Imaging, Inc. related to clinical
development activities in association with FDA approval of their 18F-DCFPyL compound

 

Evergreen Theragnostics, Inc. related to clinical
development activities of an NDA submission of their 18F-FMISO compound.

 

    27Exhibit
10.14

 

POINT
Biopharma Corp.

22
St. Clair Ave. East, Suite 1201,

Toronto,
ON M4T 2S3

 

Justyna
Kelly

 

POINT
Biopharma Corp. Employment Agreement

 

November
2, 2020

 

     

     

    

POINT
Biopharma Corp. Employment Agreement

 

to
be effective as of and from 

the Effective Date (as defined below)

 

PRIVATE
AND CONFIDENTIAL

 

Justyna
Kelly 

 

Dear
Justyna:

 

		Re:	Terms
                                         of Employment of Justyna Kelly (“you” or the “Employee”)
                                         with POINT Biopharma Corp. (the “Company”)

 

This
Agreement (as defined below) sets out the terms and conditions of your employment by the Company and will constitute your employment
agreement.

 

For
and in consideration of the promises herein and other valuable consideration, the parties agree as follows:

 

Article
1 Interpretation

 

1.1       Definitions

 

For
the purposes of this Agreement:

 

		1.1.1	“$”
                                         means CDN dollars.

 

		1.1.2	“Affiliate”
                                         means with respect to a Person, any Person that, directly or indirectly, Controls, is
                                         Controlled by, or is under common Control with such Person, including, without limitation,
                                         any partner, officer, director, or member of such Person and any venture capital fund
                                         now or hereafter existing that is Controlled by or under common Control with one or more
                                         general partners or shares the same management company or investment manager with such
                                         Person, and including any parent or subsidiary company of such Person.

 

		1.1.3	“Agreement”
                                         means this employment agreement and the exhibits hereto.

 

		1.1.4	“Base
                                         Salary” shall have the meaning set out in Section 3.2 (Base Salary)

 

		1.1.5	“Business”
                                         means the business of the Company described in Exhibit 1.1.5.

 

    2 

     

    

		1.1.6	“Business
                                         Information” means all business information, including information regarding:

 

		.1	commercial
                                         strategies, business plans, business methods, corporate plans, management systems, finances,
                                         new business opportunities, marketing or sales of any past, present or future product
                                         or service, including, without limitation, sales targets and statistics, market share
                                         and pricing statistics, marketing surveys and plans, market research reports, sales techniques,
                                         price lists, discount structures, advertising and promotional material;

 

		.2	financial
                                         information, compensation and investment arrangements, terms of agreements, financial
                                         structure, financial position, financial results or other financial affairs, actual or
                                         proposed transactions or investments or other confidential information; and

 

		.3	the
                                         name, address, telephone number, contact name and identity of each of the Key Contacts,
                                         the nature of their business operation, and all confidential aspects of their business
                                         relationship or potential business relationship with the Company or any Affiliate of
                                         the Company.

 

		1.1.7	“Cause”
                                         shall have the meaning set out in Section 6.6 (Termination by Company for Cause).

 

		1.1.8	“Vice
                                         President, Medical Isotope Development and Operations” shall have the meaning
                                         set out in Section 2.1 (Position and Duties).

 

		1.1.9	“Change
                                         of Control” shall be deemed to have occurred if any of the following occurs
                                         after the Effective Date and before the Termination Date:

 

		.1	any
                                         “person” or “group” (as such terms are defined below) is or becomes
                                         the “beneficial owner” (as defined below, except that a “person”
                                         or “group” shall be deemed to have “beneficial ownership” of
                                         all shares of capital stock or other equity interests if such person or group has the
                                         right to acquire such shares or interests, whether such right is exercisable immediately
                                         or only after the passage of time), directly or indirectly, in a transaction or series
                                         of related transactions, of shares of capital stock or other interests (including partnership
                                         interests) of the Company then outstanding and normally entitled (without regard to the
                                         occurrence of any contingency) to vote in the election of the directors, managers or
                                         similar supervisory positions (“Voting Stock”) of the Company representing
                                         more than fifty percent (50%) of the total voting power of all outstanding classes of
                                         Voting Stock; or;

 

		.2	a
sale of substantially all of the assets of the Company; or

 

		.3	the
                                         Company enters into a merger, reverse-merger, amalgamation, arrangement, consolidation
                                         or other form of business combination, share exchange, reorganization, recapitalization,
                                         transfer or other similar transaction with another Person (whether or not the Company
                                         the surviving entity) and as a result of such transaction (a) the members of the board
                                         of directors of the Company immediately prior to such transaction constitute less than
                                         a majority of the members of the board
of directors of the Company or such surviving entity immediately following such transaction or (b) the Persons that beneficially
owned, directly or indirectly, the shares of Voting Stock of the Company immediately prior to such transaction cease to beneficially
own, directly or indirectly, shares of Voting Stock of the Company representing at least a majority of the total voting power
of all outstanding classes of Voting Stock of the surviving entity immediately following such transaction.

 

    3 

     

    

Notwithstanding
the foregoing, a Change of Control resulting from a Financing or from corporate changes between Company Affiliates is deemed not
to be a Change of Control for the purposes of this Agreement.

 

		1.1.10	“Confidential
                                         Information” means all non-public information, knowledge, or data pertaining
                                         to the business, affairs and technology of the Company or any Affiliate of the Company,
                                         including:

 

		.1	Technical
Information and Business Information;

 

		.2	your
Work Product; and

 

		.3	information
                                         secured by the Company from Persons subject to an obligation of confidentiality;

 

and,
in all cases, all copies and tangible embodiments thereof, in whatever form or medium, all whether furnished or prepared before
or after the Effective Date.

 

		1.1.11	“Control”
                                         or “Controls” means, in relation to a corporation or a partnership,
                                         as the case may be:

 

		.1	the
                                         right to cast a majority of the votes that may be cast at a general meeting of the shareholders
                                         of a corporation;

 

		.2	the
                                         right to elect or appoint, directly or indirectly, a majority of the directors of a corporation;

 

		.3	to
                                         hold more than 50% of the interests of a partnership other than a limited partnership;
                                         and

 

		.4	to
be the general partner of a limited partnership.

 

		1.1.12	“Effective
                                         Date” shall have the meaning set out in Section 2.4

 

		1.1.13	“Financing”
                                         means capital secured for, and accepted by, the Company including without limitation
                                         through any purchase, transfer or other disposition of any debt, equity or other securities
                                         of the Company.

 

    4 

     

    

		1.1.14	“Inventions”
                                         means any and all discoveries, developments, enhancements, improvements, concepts, formulas,
                                         processes, ideas, writings, whether or not reduced
to practice, industrial and other designs, patents, patent applications, provisional patent applications, continuations, continuations-in-part,
substitutions, divisionals, reissues, renewals, re-examinations, extensions, supplementary protection certificates or the like,
trade secrets or utility models, copyrights and other forms of intellectual property including all applications, registrations
and related foreign applications filed and registrations granted thereon.

 

		1.1.15	“Key
                                         Contacts” means the actual and potential: licensors, licensees, sublicensees,
                                         collaborators, partners, investors, shareholders, acquirers, lenders or merger candidates,
                                         suppliers and customers of the Company or any Affiliate of the Company.

 

		1.1.16	“Notice
                                         Period” shall have the meaning set out in Section 6.1 (Termination by Employee)

 

		1.1.17	“Objectives”
                                         shall have the meaning set out in Section 3.3 (Annual Bonus)

 

		1.1.18	“Option
                                         Agreement” shall have the meaning set out in Section 3.5 (Stock Options).

 

		1.1.19	“Person”
                                         means any individual, partnership, joint venture, syndicate, sole proprietorship, company
                                         or corporation with or without share capital, trust, trustee, executor, administrator,
                                         or other legal personal representatives, regulatory body or agency, government or governmental
                                         agency, authority or entity howsoever designated or constituted.

 

		1.1.20	“Technical
                                         Information” means all technical information of the Company or any Affiliate
                                         of the Company, including information regarding knowledge or data of an intellectual,
                                         technical, scientific or industrial nature, including compositions of matter, techniques,
                                         specifications, standards, technical data, uses of matter, practices, methods, computer
                                         data, scientific strategies and concepts, clinical and regulatory strategies and concepts,
                                         test data, research data, analytical and quality control data, formulation data, manufacturing
                                         data, development information, filings for the protection of intellectual property protection,
                                         drawings, specifications, designs, plans, proposals, reports, formulas, compilations,
                                         research data and manuals.

 

		1.1.21	“Term
                                         of Employment” means the period from the Effective Date until the date on which
                                         your employment with the Company ceases in accordance with Article 6.

 

		1.1.22	“Termination
                                         Date” shall have the meaning set out in Section 6.7.

 

		1.1.23	“Work
                                         Product” means any and all works of authorship, including

 

		.1	all
                                         Inventions and possible Inventions relating to the Company’s Business resulting
                                         from any work performed by you for the Company that you may invent or co-invent during
                                         your involvement in any capacity with the Company, except those Inventions invented by
                                         you entirely on your own time that do not relate to the Company’s Business or do
                                         not derive from any equipment, supplies, facilities, Confidential Information or other
                                         information, gained, directly or indirectly, by you from or through your involvement
                                         in any capacity with the Company; and

		.2	all
                                         Technical Information and Business Information resulting from any work performed by you
                                         for the Company; and includes all analyses, compilations, studies, reports or other documents
                                         prepared by you based upon or including any such information, data or knowledge of the
                                         Company or any Affiliate of the Company.

 

    5 

     

    

Article
2 Position, Duties and Service

 

2.1       Position
and Duties

 

You
will be employed by and will serve the Company, having the duties and functions customarily performed by, and having all responsibilities
customary to, Vice President, Medical Isotope Development and Operations, including those described in Exhibit 2.1.

 

You
will report directly to the CEO of the Company. The rights of the Company as provided in this Agreement may be exercised on behalf
of the Company only by the CEO, Board, or by a committee or person expressly designated for such purposes by the Board.

 

2.2       Changes
to Duties

 

Your
duties and functions pertain to the Company or any Affiliate of the Company and may be varied or added to from time to time by
the CEO and the Board in its discretion.

 

2.3       Service
to the Company

 

During
the Term of Employment, you will:

 

		2.3.1	well
                                         and faithfully serve the Company, at all times act in the best interests of the Company,
                                         and, to the extent necessary to discharge the responsibilities assigned to you hereunder,
                                         you will use your best efforts to perform faithfully and efficiently such responsibilities;

 

		2.3.2	apply
                                         your skill and experience to the performance of your duties in such employment;

 

		2.3.3	comply
                                         with all policies and procedures from time to time formulated by the Company;

 

		2.3.4	devote
                                         all of your working time, attention and energies to the business and affairs of the Company;
                                         and

 

		2.3.5	not,
                                         without the prior approval of the Company, carry on or engage in any other business or
                                         occupation or become a director, officer, employee or agent of or hold any position or
                                         office with any other company, firm or person other than the Company, except as disclosed
                                         in Exhibit 2.3.5 or as a volunteer for a non-profit organization, engaging in civic,
                                         religious, educational or other community activities, or maintaining personal investments
                                         or a personal holding company, provided that such
activities do not materially interfere with the performance of your duties under this Agreement.

 

    6 

     

    

2.4       Term

 

The
terms and conditions of this Agreement shall have effect as and from November 16, 2020 (the “Effective Date”)
and throughout the Term of Employment.

 

Article
3 Compensation Generally

 

3.1       No
Other Compensation or Benefits

 

You
will be compensated as set out in this Article. Unless otherwise agreed by the parties in writing, you expressly acknowledge and
agree that you will not be entitled by reason of your employment by the Company or by reason of any termination of such employment,
to any remuneration, compensation, severance, damages or benefits other than as expressly set forth in this Agreement, the Option
Agreement and as expressly required by applicable employment standards legislation.

 

3.2       Base
Salary

 

During
the Term of Employment, the Company will pay you an annual base salary (the “Base Salary”) at the rate of $200,000
per annum, payable on a bi-weekly basis (26 pay periods), subject to applicable withholdings and deductions. The Base Salary will
be reviewed on an annual basis, or as otherwise determined by the Company. Any merit increases are subject to the approval and
discretion of the Board. As a managerial employee of the Company, you are not entitled to overtime pay.

 

3.3       Annual
Bonus

 

An
annual bonus will be in effect, and is based on you meeting established performance objectives and due 30 days after the board
has approved the corporate yearend financial statements. During the Term of Employment, you will be eligible for a target
cash bonus of up to 25% of your Base Salary under this Agreement if the Board (or the Company’s Compensation Committee),
in its sole discretion, determines that the Company has met its short-term and long-term business performance objectives and that
you have met your personal performance objectives (together, the “Objectives”), which Objectives will be established
on an annual basis by the CEO and Board (or the Company’s Compensation Committee) in consultation with you. Payment of the
performance bonus (less all applicable statutory deductions by the Company) will be made to you once approved by the Board (or
Company’s Compensation Committee), and within 30 days after the board has approved the corporate yearend financial statements,
provided that, except as otherwise set out in this Agreement, at the time of such approval, you hold current active employment
status with the Company. You acknowledge that participation in any incentive or bonus plan during any one year confers no rights
upon you or any obligations on the Company to continue the plan or entitle you to participate in the plan in succeeding years.
Except only as expressly required by the applicable employment standards legislation, as amended, no incentives or bonuses will
be paid or are payable to you following the Termination Date and you waive any entitlement to damages in lieu thereof whether
pursuant or attributable to any common law notice period or otherwise.

 

    7 

     

    

3.4
Signing Incentives

 

Subject
to the approval of Board of Point BioPharma Inc. (the “Parent”), you will be granted a non-qualified option
to purchase 7,500 shares of the Common Stock of Parent (the “Option”), subject to the terms and conditions
applicable to options granted under the Equity Incentive Plan and the stock option agreement (together with the Equity Incentive
Plan, the “Option Agreement”). The exercise price per share of the Option will be equal to the fair market
value per share of the Parent’s Common Stock on the date the Option is granted, as determined by the Parent Board.

 

3.5       Stock
Options

 

From
time to time, subject to the terms and conditions of the Option Agreement and at the approval of the Board of Directors, you may
be entitled to receive an annual performance-based allocation of stock options in the Company equivalent in shares to up to 20%
of your salary, i.e. $200,000 X 20% = 40,000 shares.

 

Except
only as expressly required by applicable employment standards legislation, as amended, or expressly required by the terms of this
Agreement, as of the Termination Date, there shall be no further awards of or vesting of stock options, restricted stock units,
or other equity-based compensation, and any unvested stock options, restricted stock units, or other equity-based compensation
shall immediately be cancelled and terminate, and you waive any entitlement to damages in lieu thereof whether pursuant or attributable
to any common law notice period or otherwise.

 

3.6       Stock
Options in the Event of a Change of Control

 

Subject
to the terms and conditions of the Option Agreement, in the event that as of the date of a Change of Control, you hold unvested
stock options that had been granted to you under the Option Agreement, such unvested stock options shall immediately vest and
shall be exercisable in accordance with the terms and conditions of the Option Agreement.

 

3.7       Reimbursement
for Expenses

 

As
of the Effective Date, the Company agrees to reimburse you for reasonable travelling and other expenses incurred in the course
of employment. For all such expenses, you will be required to keep proper accounts and to furnish such statements and vouchers
to the Company.

 

3.8       Vacation

 

During
the Term of Employment, you will be entitled to 20 working days vacation, pro-rated for any partial year of employment. The Company
reserves the right to request that vacations be scheduled so as not to conflict with business needs. While you must take at least
your minimum statutory entitlement to vacation each year, any unused vacation balance remaining at calendar year end in excess
of minimum statutory vacation entitlements may be carried over into the subsequent calendar year to a cumulative maximum not exceeding
40 working days of vacation. Subject to applicable employment standards legislation, any vacation carried over in excess of 40
days will be forfeited.

 

3.9       Benefits

 

During
the Term of Employment, the Company will provide for group health, drugs, dental, vision and life insurance benefits through
a mutually agreeable arrangement as is made available to its executives from time to time. You hereby acknowledge that
coverage under any benefit plan, or alternate plan arrangement as agreed upon in effect from time to time is subject to
availability and other requirements of the applicable insurer and that the components of the benefits plan may be amended,
modified or terminated from time to time by the Company in its sole discretion, and that this may include terminating or
changing carriers.

 

    8 

     

    

Article
4 Intellectual Property Rights

 

4.1       Obligation
of Confidentiality

 

You
understand and agree that in the course of your employment with the Company, both before and after the Effective Date, you have
obtained and will obtain knowledge of Confidential Information. You agree that unless the Company otherwise agrees in writing
or except as required by law or disclosed pursuant to a confidential disclosure agreement executed by the Company and the recipient:

 

		4.1.1	you
                                         will keep all Confidential Information learned or acquired by you, disclosed to you or
                                         developed by you, as a result of or in connection with or during the course of your employment
                                         by the Company, whether before or after the Effective Date, strictly confidential;

 

		4.1.2	all
                                         Confidential Information shall, as between you and the Company, be and remain the property
                                         of the Company; and

 

		4.1.3	you
                                         will not at any time, during or after your employment with the Company, disclose any
                                         Confidential Information to any Person other than the Company, or use any Confidential
                                         Information for the benefit of any Person other than the Company.

 

The
above obligations with respect to Confidential Information shall not apply to Confidential Information which has become available
to the general public through no fault of your own.

 

4.2       Disclosure
of Work Product

 

You
agree to promptly and fully inform the Company of all of your Work Product, whether or not patentable, throughout the course of
your involvement, in any capacity, with the Company or any Affiliate of the Company, whether or not developed before or after
your execution of this Agreement. On your ceasing to be employed by the Company, you will immediately deliver up to the Company
all of your Work Product. You further agree that all of your Work Product shall at all times be the Confidential Information of
the Company.

 

4.3       Assignment
of Rights

 

You
will assign, and do hereby assign, to the Company or, at the option of the Company and upon notice from the Company, to the
Company’s designee, your entire right, title and interest in and to all of your Work Product and all other rights and
interests of a proprietary nature in and associated with your Work Product, including all patents, copyrights, trademarks,
and applications filed therefore and other registrations granted thereon. To the extent that you retain or acquire legal
title to any such rights and interests, you hereby declare and confirm that such legal title is and will be held by
you only as trustee and agent for the Company. You agree that the Company’s rights hereunder shall attach to all of
your Work Product, notwithstanding that it may be perfected or reduced to specific form after you have terminated your
relationship with the Company. You further agree that the Company’s rights hereunder shall extend to every country of
the world.

 

    9 

     

    

4.4       Moral
Rights

 

You
agree to hereby waive in whole all moral rights and agree never to assert any moral rights which you may have in your Work Product,
including, without limitation, the right to the integrity of such Work Product, the right to be associated with the Work Product,
the right to restrain or claim damages for any distortion, mutilation or other modification or enhancement of the Work Product
and the right to restrain, the use or reproduction of the Work Product in any context and in connection with any product, service,
cause or institution and you further confirm that the Company may use or alter any such Work Product as the Company sees fit in
its absolute discretion.

 

4.5       Goodwill

 

You
hereby agree that all goodwill you have established or may establish with Key Contacts relating to the business or affairs of
the Company or any Affiliate of the Company, both before and after the Effective Date, shall, as between you and the Company,
be and remain the property of the Company exclusively, for the Company to use, alter, vary, adapt and exploit as the Company shall
determine in its discretion.

 

4.6       Assistance

 

You
hereby agree to assist the Company, at the Company’s request and expense, both during your Term of Employment and at all
times after termination of your Term of Employment for any reason whatsoever, in:

 

		4.6.1	making
                                         patent applications for your Work Product, including instructions to lawyers and/or patent
                                         agents as to the characteristics of your Work Product in sufficient detail to enable
                                         the preparation of a suitable patent specification, to execute all formal documentation
                                         incidental to an application for letters patent and to execute assignment documents in
                                         favor of the Company for such applications;

 

		4.6.2	making
                                         applications for all other forms of intellectual property registration relating to your
                                         Work Product;

 

		4.6.3	prosecuting
                                         and maintaining the patent applications and other intellectual property relating to your
                                         Work Product; and

 

		4.6.4	registering,
                                         maintaining and enforcing the patents and other intellectual property registrations relating
                                         to your Work Product.

 

    10 

     

    

		4.7	Assistance
                                         with Proceedings 

 

You
further agree to lend such assistance as you can, at the Company’s request and expense, in connection with any enforcement
of the Company’s intellectual property rights or defense to an allegation of infringement of another Person’s intellectual
property rights, invalidity proceedings respecting, opposition to, or intervention regarding any applications for letters patent,
copyright or trademark or other proceedings relating to intellectual property or applications for registration thereof.

 

Article
5 Conflicts and Restrictive Covenant

 

5.1       Disclosure
of Conflicts of Interest

 

During
your employment with the Company, you will promptly, fully and frankly disclose to the Company in writing:

 

		5.1.1	the
                                         nature and extent of any interest you have or may have, directly or indirectly, in any
                                         contract or transaction or proposed contract or transaction of or with the Company or
                                         any Affiliate of the Company or any Key Contact;

 

		5.1.2	every
                                         office you may hold or acquire, and every property you may possess or acquire, whereby
                                         directly or indirectly, a duty or interest might be created in conflict with the interests
                                         of the Company or any Affiliate of the Company, or your duties and obligations under
                                         this Agreement; and

 

		5.1.3	the
                                         nature and extent of any conflict referred to in Sections 5.1.1 and 5.1.2.

 

		5.2	Avoidance
                                         of Conflicts of Interest 

 

You
acknowledge that it is the policy of the Company that all interests and conflicts of the sort described in Section 5.1 (Disclosure
of Conflicts of Interest) be avoided, and you agree to comply with all policies and directives of the Company from time to time
regulating, restricting or prohibiting circumstances giving rise to interests or conflicts of the sort described in Section 5.1.
During your employment with the Company, you shall not enter into any agreement, arrangement or understanding with any other Person
that would in any way conflict or interfere with this Agreement or your duties or obligations under this Agreement or that would
otherwise prevent you from performing your obligations hereunder, and you represent and warrant that you have not prior to the
Effective Date entered into any such agreement, arrangement or understanding.

 

    11 

     

    

5.3       Restrictive
Covenant

 

During
the Term of Employment and for a period of 6 months thereafter for Sections 5.3.1 and 5.3.2, and a period of 24 months thereafter
for Section 5.3.3, regardless of the reason for such termination, you will not, either alone or in partnership or in conjunction
with any Person, whether as principal, agent, employee, director, officer, shareholder, consultant or in any capacity or manner
whatsoever, whether directly or indirectly:

 

		5.3.1	carry
                                         on or be engaged in, or advise, or give financial assistance to, any business, enterprise
                                         or undertaking within Canada that:

 

		.1	is
                                         involved in the business or in the sale, distribution, development or supply of any product
                                         or service that is competitive with the Business or any product or service of the Business;
                                         or

 

		.2	competes
                                         with the Company with respect to any aspect of the Business; provided, however, that
                                         the foregoing will not prohibit you from acquiring, solely as an investment and through
                                         market purchases, securities of any such enterprise or undertaking which are publicly
                                         traded, so long as you are not part of any control group of such entity and such securities,
                                         which if converted, do not constitute more than 5% of the outstanding voting power of
                                         that entity;

 

		5.3.2	agree
                                         to be employed by, or agree to provide services within Canada to any Person that was
                                         a Key Contact (but in any case, with whom you have had business contact during the two
                                         years prior to the termination of the Term of Employment, or with whom you have had business
                                         contact in the course of your employment with the Company if less than 24 months) for
                                         any business purpose that is competitive with the Business; or

 

		5.3.3	solicit,
                                         divert, entice or take away from the Company or any Affiliate of the Company or attempt
                                         to do so or solicit for the purpose of doing so, any business of the Company or any Affiliate
                                         of the Company, or any Person that was an employee or contractor of the Company or any
                                         Affiliate of the Company (but in any case, with whom you have had business contact during
                                         the two years prior to the termination of the Term of Employment, or with whom you have
                                         had business contact in the course of your employment with the Company if less than two
                                         years) to terminate, discontinue or alter to the detriment of the Company, his, her or
                                         its employment relationship with the Company or its Affiliates.

 

		5.4	Provisions
                                         Reasonable 

 

You
hereby acknowledge and agree that:

 

		5.4.1	during
                                         the course of your employment by the Company, you will acquire knowledge of, and you
                                         will come into contact with, initiate and established relationships with Key Contacts,
                                         and that in some circumstances you may be the senior or sole representative of the Company
                                         or any Affiliate of the Company dealing with such Persons; and

 

		5.4.2	in
                                         light of the foregoing, the provisions of Section 5.3 (Restrictive Covenant) are reasonable
                                         and necessary for the proper protection of the business, property and goodwill of the
                                         Company and the Business and any Affiliate of the Company.

 

		5.5	Right
                                         to Use Employee’s Name and Likeness 

 

During
the Term of Employment, you hereby grant to the Company the right to use your name, likeness and/or biography in connection with
services performed by you under this Agreement and in connection with the advertising or exploitation of any project with respect
to which you perform services for the Company.

 

    12 

     

    

Article
6 Termination

 

6.1       Termination
by Employee

 

You
may resign from your position at any time, but only by giving the Company at least 30 days prior written notice of the effective
date of your resignation (the “Notice Period”). On the giving of any such notice, the Company may accelerate
your resignation, in lieu of the Notice Period or any part thereof, by notice in writing to you and payment to you of any compensation
and continuation of benefits due to you for the balance of the 30-day Notice Period pursuant to this Agreement, less applicable
statutory deductions.

 

6.2       Termination
by Company Without Cause

 

The
Company may terminate your employment at any time without Cause (as defined below) in accordance with the terms set out in this
Agreement and by giving you written notification of termination. In the event that your employment is so terminated, you will
have the common law duty to mitigate your damages.

 

6.3       Consequences
of Termination Without Cause Unrelated to a Change of Control

 

Subject
to Section 6.4, on the giving of any notice referred to in Section 6.2, the Company shall provide you with the greater of either
(i) 3 months ‘Base Salary, bonus (3.3), in addition to 1 month for every year of service (or part thereof) to the company
upon and effective at 3 years of employment, , or (ii) the minimum notice or pay in lieu of notice and severance pay, if applicable,
that is expressly required by applicable employment standards legislation. In the case of either Section 6.3(i) or (ii), your
participation in Company benefits plans will be continued for the minimum period expressly required by applicable employment standards
legislation. Other than as set out in this Section and Section 6.7, you will not be entitled to any additional notice, pay in
lieu of notice, severance or other payments whether pursuant to the common law or otherwise upon termination of your employment
without Cause unrelated to a Change of Control pursuant to this Section 6.3.

 

6.4       Consequences
of Termination Without Cause After a Change of Control

 

On
the giving by the Company to you of the written notice referred to in Section 6.2: (i) at the same time as, or within the twelve
(12) month period following, the consummation of a Change of Control, or (ii) within the thirty (30) day period prior to the date
of the consummation of a Change of Control where such Change of Control was under consideration by the Board at the time of your
termination, then the following terms apply in substitution of the compensation and benefits referred to in Section 6.3 above:

 

		6.4.1	the
                                         Company shall provide you with the greater of either (i) 6 months ‘Base Salary
                                         and bonus (3.3), in addition to 1 month for every year of service (or part thereof) to
                                         the company, upon and effective at 3 years of employment. , or (ii) the minimum notice
                                         or pay in lieu of notice and severance pay, if applicable, that is expressly required
                                         by applicable employment standards legislation, plus in the case of either Section 6.4.1(i)
                                         or (ii), your participation in Company benefits plans will be continued for the minimum
                                         period expressly required by applicable employment standards legislation; and

 

    13 

     

    

		6.4.2	as
                                         set out in and subject to the terms of Section 3.5 above, as of the date of the consummation
                                         of the Change of Control, any unvested stock options granted to you under the Option
                                         Agreement will vest and be exercisable in accordance with the terms and conditions of
                                         this Option Agreement.

 

Other
than as set out in this Section and Section 6.7 below, you will not be entitled to any additional vesting, notice, pay in lieu
of notice, severance or other payments whether pursuant to the common law or otherwise upon termination of your employment without
Cause after a Change of Control pursuant to this Section 6.4.

 

6.5       Termination
in the Event of Death

 

Your
employment shall terminate immediately upon your death and the Company shall pay your estate any amounts which may be due and
remaining unpaid at the time of the termination of employment, in accordance with applicable employment standards legislation.

 

6.6       Termination by Company for Cause

 

Notwithstanding
any other provision in this Agreement, the Company may at any time summarily terminate your employment, without any obligation
to provide notice of pay in lieu of notice, for “Cause”, in which case you will only be entitled to receive such compensation
and benefits as are expressly required by applicable employment standards legislation. In this Agreement, “Cause”
means any of the following:

 

		6.6.1	commission
                                         of theft, embezzlement, fraud, obtaining funds or property under false pretenses or similar
                                         acts of misconduct with respect to the property of the Company, any Affiliate of the
                                         Company, the Key Contacts, or their respective directors, officers, employees or contractors;

 

oral
or written representations made by you to the Company or any Affiliate of the Company with the intent to deceive or mislead; commission
of an act of malfeasance, dishonesty or breach of trust against the Company, any Affiliate of the Company, the Key Contacts, or
their respective directors, officers, employees or contractors, including a breach by you of any of your covenants or obligations
under Section 5.1 (Disclosure of Conflicts of Interest), Section 5.2 (Avoidance of Conflicts of Interest) or Section 5.3 (Restrictive
Covenant);

 

		6.6.2	the
                                         entering of a guilty plea by you or your conviction for a serious criminal offence which
                                         impacts adversely on the Company or any Affiliate of the Company;

 

		6.6.3	repeated
                                         and continued failure to fulfill your duties or obligations of employment or your breach
                                         of any material obligations and covenants under this Agreement. Termination for such
                                         “Cause” shall only occur if you have been given written notice of such failure
                                         to fulfill your duties or obligations and you have been given an opportunity to correct
                                         such behavior;

 

    14 

     

    

		6.6.4	the
                                         termination of your employment with POINT Biopharma Corp. other than a termination pursuant
                                         to section 6.2 ; or

 

		6.6.5	any
                                         other misconduct or omission that amounts to just cause for summary dismissal at common
                                         law. In the event the Company dismisses you for cause pursuant to this Section 6.6 and,
                                         subsequently, a court or arbitrator rules that the Company did not have cause, you hereby
                                         agree that you will only be entitled to damages in an amount equal to the compensation
                                         that would have been due to you had the Company terminated your employment pursuant to
                                         Section 6.3 (Consequences of Termination Without Cause), less any amounts earned by you
                                         in mitigation.

 

		6.7	Termination
                                         Date and Full Satisfaction 

 

“Termination
Date” means the earlier of: (i) the date on which you are notified in writing by the Company of the termination of your
employment for any reason, and (ii) the date on which you notify the Company of your resignation from employment for any reason,
but in any case, without regard to any payment or notice period to which you might then be entitled.

 

It
is agreed that as a result of the termination of your employment, for any reason, you shall not be entitled to any notice, fee,
salary, severance or other payments, benefits or damages in excess of what is specified or provided for in Section 6.1 (Termination
by Employee), Section 6.3 (Consequences of Termination Without Cause Unrelated to a Change of Control), Section 6.4 (Consequences
of Termination Without Cause After a Change of Control) and Section 6.6 (Termination by Company for Cause), whichever is applicable,
except that you shall remain receive all salary and other amounts, if any, which are then due and owed to you as of the Termination
Date, in addition to any accrued but unpaid vacation pay and any other minimum entitlements expressly required to be provided
to you by applicable employment standards legislation. Payment of any amounts pursuant to Section 6.1 (Termination by Employee),
Section 6.3 (Consequences of Termination Without Cause Unrelated to a Change of Control), Section 6.4 (Consequences of Termination
Without Cause After a Change of Control), and Section 6.6 (Termination by Company for Cause) shall be subject to the withholding
of all applicable statutory deductions by the Company. You will be required to execute a standard release of claims document in
a form satisfactory to the Company in order to receive any payments in excess of those required by applicable employment standards
legislation.

 

    15 

     

    

Article
7 General

 

7.1       Agreement
Confidential

 

Both
parties shall keep the terms and conditions of this Agreement confidential except as may be required to enforce any provision
of this Agreement or as may otherwise be required by any law, regulation or other regulatory or securities requirement.

 

7.2       Binding
Effect

 

This
Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns. Your rights and obligations
contained in this Agreement are personal and such rights, benefits and obligations shall not be voluntarily or involuntarily assigned,
alienated or transferred, whether by operation of law or otherwise, without the prior written consent of the Company. This Agreement
shall otherwise be binding upon and inure to the benefit of your personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees, legatees and permitted assigns.

 

7.3       Counterparts

 

This
Agreement may be executed in several counterparts (including by fax or electronic transmission), each of which when so executed
shall be deemed to be an original and shall have the same force and effect as an original but such counterparts together shall
constitute but one and the same instrument.

 

7.4       Entire
Agreement

 

The
terms and conditions of this Agreement are in addition to and not in substitution for the obligations, duties and responsibilities
imposed by law on employees of corporations generally, and you agree to comply with such obligations, duties and responsibilities.
Except as otherwise provided in this Agreement, this Agreement constitutes the entire agreement between you and the Company and
supersedes all prior negotiations, proposals and agreements, whether oral or written, with respect to the subject matter hereof,
and may only be varied by further written agreement signed by you and the Company. You further acknowledge and agree that you
have not relied on any representation made by the Company, or any of its employees or agents, except as specifically set out in
this Agreement.

 

7.5       Further
Assurances

 

Each
of the parties hereto will, on demand by the other party hereto, execute and deliver all such further documents and instruments
and do all such further acts and things as the party may either before or after the execution and delivery of this Agreement reasonably
request to evidence, carry out and give full effect to the terms, conditions, intent and meaning of this Agreement.

 

7.6       Governing
Law

 

This
Agreement shall be construed and enforced in accordance with and be governed by and interpreted in accordance with the laws of
the Province of Ontario and the law of Canada applicable therein, without regard to the principles of conflicts of law. The courts
of Ontario (and the Supreme Court of Canada, if necessary) shall have exclusive jurisdiction to hear and determine all disputes
arising hereunder, and each of the parties hereto irrevocably attorns to the jurisdiction of said courts.

 

    16 

     

    

7.7       Independent
Legal Advice

 

You
acknowledge and agree that the Company has given you the opportunity to seek, and has recommended that you obtain, independent
legal advice with respect to the subject matter of this Agreement and, further, you hereby represent and warrant to the Company
that you have either sought independent legal advice or have waived your right to obtain such advice.

 

7.8       Injunctive
Relief

 

You
acknowledge and agree that any breach or threatened breach of any of the provisions of, Section 5.1 (Disclosure of Conflicts of
Interest), Section 5.2 (Avoidance of Conflicts of Interest), or Section 5.3 (Restrictive Covenant) could cause irreparable damage
to the Company, that such harm could not be adequately compensated by the Company’s recovery of monetary damages, and that
in the event of a breach or threatened breach thereof, the Company shall have, in addition to any and all remedies at law or in
equity, the right to seek an injunction, specific performance or other equitable relief as well as any equitable accounting of
all your profits or benefits arising out of any such breach. It is further acknowledged and agreed that the remedies of the Company
specified in this Section 7.8 are in addition to and not in substitution for any rights or remedies of the Company at law or in
equity and that all such rights and remedies are cumulative and not alternative and that the Company may have recourse to any
one or more of its available rights or remedies as it shall see fit.

 

7.9       Non-Disparagement

 

You
shall not, directly or indirectly, make any disparaging comments or criticisms (whether of a professional or personal nature)
to any Person regarding the Company, any Affiliate of the Company, the Key Contacts, or their respective directors, officers,
employees or contractors (or the terms of any agreement or arrangement of the Company) or regarding your relationship with the
Company or any termination of such relationship which, in each case, are reasonably expected to result in material damage to the
business or reputation of the Company, any Affiliate of the Company, a Key Contact, or any of their respective directors, officers,
employees or contractors.

 

7.10       Notice

 

Any
notice or other communication required or contemplated to be given hereunder must be in writing and shall be deemed effective
when personally delivered or on the day following the sending when sent by facsimile transmission, addressed to the appropriate
party as set forth below:

 

If
to the Employee:

 

Justyna
Kelly 

 

    17 

     

    

If
to the Company:

 

POINT
Biopharma Corp. 

22
St. Clair Ave. East, Suite 1201, 

Toronto,
ON M4T 2S3

 

Attention:
CEO, Joe McCann

 

With
a copy to (which shall not constitute notice):

 

Goodmans
LLP 

Bay
Adelaide Centre - West Tower 

333
Bay Street, Suite 3400 

Toronto,
ON 

M5H
2S7

 

7.11       Publicity

 

You
shall not, without the prior written consent of the Company, make or give any public announcements, press releases or statements
to the public or the press regarding your Work Product or any Confidential Information.

 

7.12       Severability

 

If
any provision of this Agreement is determined to be void, illegal or unenforceable, such provision will be construed to be separate
and severable from this Agreement and will not impair the validity, legality or enforceability of any other provision of this
Agreement and the remainder of this Agreement will continue to be binding on the parties hereto as if such provision had been
deleted.

 

7.13       Surviving
Obligations

 

Upon
termination of this Agreement for any reason, any obligations which by their terms or nature, must extend beyond the date of termination
to be effective shall survive termination of this Agreement. Without limiting the foregoing, your obligations under Section 5.3
(Restrictive Covenant), Section 5.4 (Provisions Reasonable), Article 6 (Termination) and Article 7 (General) shall survive and
remain in full force and effect following the termination of this Agreement.

 

7.14       Waiver

 

Any
waiver of any breach or default under this Agreement shall only be effective if made in writing, signed by the party against whom
the waiver is sought to be enforced, and no waiver shall be implied by any other act or conduct or by any indulgence, delay or
omission. Any waiver shall only apply to the specific matter waived and only in the specific instance in which it is waived.

 

    18 

     

    

7.15       Acceptance

 

If
the foregoing terms and conditions are, are acceptable to you, please indicate your acceptance of and agreement to the terms and
conditions of this agreement by signing below on this letter and on the enclosed copy of this letter in the space provided and
by returning the enclosed copy so executed to us. Your execution and delivery to the Company of the enclosed copy of this letter
will create a binding agreement between us.

 

Yours
truly, 

POINT
Biopharma Corp.

 

Per:
/s/ Joe McCann 

Authorized
Signatory

 

Joe
McCann, Chief Executive Officer

 

Acknowledged
and Agreed:

 

I
acknowledge that I have had sufficient time to thoroughly review this agreement and obtain the advice that I deem appropriate
regarding its terms and conditions. I have read, understand and voluntarily accept employment with POINT Biopharma Corp. on the
terms and conditions set out above.

 

	November
    2, 2020	/s/
    Justyna Kelly
	Date	Justyna
    Kelly

    19 

     

    

Exhibit
1.1.5: Description of the Business

 

The
Company is a clinical stage pharmaceutical company focused on the development and commercialization of radiotherapeutics and theranostic
products. The company will compete in therapeutic categories related to the use of radiotherapeutics and theranostic products
in oncology.

 

    20 

     

    

Exhibit
2.1: Description of Duties – Vice President, Medical Isotope Development and Operations

 

The
Vice President, Medical Isotope Development and Operations reports directly to the Chief Executive Officer (CEO).

 

		1.	Overview
                                         

 

		1.1.	The
                                         position is responsible and accountable for definition and management of all medical
                                         isotope development and operations related to raw materials sourcing, supply chain, development
                                         and manufacturing of medical isotopes, including the regulatory aspects of the various
                                         medical isotopes in development and production and the partnerships associated with the
                                         supply chain.

 

		1.2.	The
                                         VP will liaise with key functional areas across POINT Biopharma, including development,
                                         manufacturing, regulatory, clinical and commercial, to ensure that milestones associated
                                         with medical isotope supply are met in pre-clinical, clinical and commercial programs.

 

		1.3.	The
                                         position is based in Toronto, Ontario, Canada and directly reports to the Chief Executive
                                         Officer.

 

		1.4.	The
                                         VP will manage staff associated with their areas of oversight.

 

		2.	Key
                                         Objectives 

		2.1.	To
                                         contribute to the achievement of the company’s strategic goals through the leadership,
                                         management and continual improvement and evolution of the company’s global medical
                                         isotope programs.

 

		2.2.	To
                                         ensure supply of medical isotopes for products at all stages of development through the
                                         effective management of internal and external resources.

 

		2.3.	To
                                         provide leadership and insight into medical isotope related issues and developments relevant
                                         to the company, including establishing external partnerships to allow the company to
                                         remain at the forefront of medical isotope innovation.

 

		2.4.	To
                                         ensure all medical isotope related activities are conducted within required timelines
                                         and budget, to the highest standards of Good Laboratory Practice (GLP), ICH guidelines,
                                         Good Clinical Practice (GCP) and according to regulatory guidelines, laws and Standard
                                         Operating Procedures (SOPs).

 

		3.	Key
                                         Accountabilities: 

 

		3.1.	Management
                                         of resources to achieve development, scale-up and commercial milestones for medical isotopes
                                         production internally or externally according to budget and plan.

 

		3.2.	Identification
                                         and resolution of technical challenges in the areas of stable isotope precursors and
                                         medical isotope production, including but not limited to: process development, manufacturing,
                                         packaging, analytical method development, technology transfer and routine operations.

 

		3.3.	Defining
                                         resource and capital budgets, as well as project plans in collaboration with internal
                                         and external partners, for the medical isotope programs.

 

		3.4.	Oversee
                                         the development and qualification/validation of analytical methods to support use of
                                         the medical isotopes in clinical and commercial programs

 

		3.5.	Collaborate
                                         with QA, QC, CMC and regulatory colleagues to establish and justify release and stability
                                         specifications for starting materials, intermediates, and medical isotopes

 

		3.6.	Manage
                                         multiple projects; set priorities, budgets and timelines; and work in a fast-paced environment

 

    21 

     

    

		3.7.	Proactively
                                         identify ways in which research, development and manufacturing objectives can be achieved
                                         on expedited timelines while advancing multiple risk mitigation strategies in parallel

 

		3.8.	Author
                                         and review technical documents, development reports, and drug substance and drug product
                                         sections for IND, IMPD and global marketing applications

 

		3.9.	Ensure
                                         the identification and management of risks are robust and appropriate.

 

		3.10.	Management
reporting.

 

		3.11.	Team
leadership and development.

 

		3.12.	Other
duties as assigned

 

    22 

     

    

Exhibit
2.3.5: Permitted External Roles

 

		1.	Advisor
                                         to CPDC CEO (limited to 6 months from start date)

		2.	CPDC
                                         Board Member

 

    23 

     

    

	OFFICE
833.544.2637

        FAX
        647.243.8490

         

        22
        St. Clair Avenue East, Suit 1201 

        Toronto,
        Ontario, M4T 2S3, Canada

         

        4850
        W 78th St Indianapolis, Indiana, 46268, USA 
	 

 

March
8, 2021

 

Justyna
Kelly 

56
Fraserwood Court 

Cambridge
ON N1S 0B3

 

Dear
Justyna

 

In
connection with the Employment Agreement (the “Employment Agreement”) dated November 2, 2020 between you and
Point Biopharma Corp. (the “Company”), you agree that the provisions set out in this letter agreement amend
the Employment Agreement.

 

Signing
Bonus

 

You
have agreed with the Company to accept a signing bonus of $2,000.00, which will be paid to you by the Company in consideration
for your agreement to the amendments to the Employment Agreement set out in this letter agreement as evidenced by your signed
Acceptance below.

 

Definitions

 

The
definitions of “Affiliate” and “Key Contacts” in Sections 1.1.2 and 1.1.15 of the Employment Agreement
are deleted and replaced with the following:

 

1.1.2
 “Affiliate” means with respect to a Person, any Person that, directly or indirectly, Controls, is Controlled
by, or is under common Control with such Person, including, without limitation, any partner, officer, director, or member of such
Person and any venture capital fund now or hereafter existing that is Controlled by or under common Control with one or more general
partners or shares the same management company or investment manager with such Person, and including any parent or subsidiary
company of such Person and “Protected Affiliate” means an Affiliate with whom you have been actively engaged in business
contact in the course of your employment with the Company in the 18 months prior to the Termination Date (as that term is defined
in subsection 5.3.3.1 of this Agreement) or in respect of whom you acquired confidential or proprietary information during the
course of your employment with the Company that the Company has a reasonable and legitimate business interest in protecting from
use or disclosure by its former employees.

 

1.1.15
 “Key Contacts” means the actual and potential licensors, licensees, sublicensees, collaborators, partners,
investors, shareholders, acquirers, lenders or merger candidates, suppliers and customers of the Company or any Protected Affiliate
with whom you have been actively engaged in business contact or actively engaged in researching, developing or preparing a business
pitch or proposal in the course of your employment with the Company in the 18 months prior to the Termination Date, or in respect
of whom you acquired confidential or proprietary information during the course of your employment with the Company that the Company
has a reasonable and legitimate business interest in protecting from use or disclosure by its former employees.

     

     

    

	OFFICE
833.544.2637

        FAX
        647.243.8490

         

        22
        St. Clair Avenue East, Suit 1201 

        Toronto,
        Ontario, M4T 2S3, Canada

         

        4850
        W 78th St Indianapolis, Indiana, 46268, USA 
	 

 

Restrictive
Covenant

 

Sections
5.3 and 5.4 of the Employment Agreement are deleted and replaced with the following:

 

5.3       Restrictive
Covenants

 

During
the Term of Employment and for a period of 6 months thereafter for Sections 5.3.1 and 5.3.2, and a period of 18 months
thereafter for Section 5.3.3, regardless of the reason for such termination, you will not, either alone or in partnership or
in conjunction with any Person, whether as principal, agent, employee, director, officer, shareholder, consultant or in any
capacity or manner whatsoever, whether directly or indirectly:

 

5.3.1        carry on or be engaged in, or advise, or give financial assistance to, any business, enterprise or undertaking within Canada and
the United States that:

 

.1        
     is involved in the business or in the sale, distribution, development or supply of any product or service that is the same as
or substantially similar to the products or services offered by the Company as at the date of the termination of your employment
(the “Termination Date”); or

 

.2        
     competes in a substantial or material way with the Company with respect to any aspect of the Business as at the Termination Date;
provided, however, that the foregoing will not prohibit you from acquiring, solely as an investment and through market purchases,
securities of any such enterprise or undertaking which are publicly traded, so long as you are not part of any control group of
such entity and such securities, which if converted, do not constitute more than 5% of the outstanding voting power of that entity;

 

 5.3.2        agree to be employed by any Person that was a Key Contact as at the Termination Date for any business purpose that is competitive with the Business in any substantial or material way; or make use of any list or proprietary information of or relating to a Key Contact for the purpose of competing with the Company; or be involved in the sale to, solicitation of or servicing of any Key Contact where such sale, solicitation or servicing is with respect to services or products which are the same or substantially similar to or which compete with products or services sold or provided by the Company as at the Termination Date; or otherwise attempt to interfere with or damage the Company’s business relationship with any Key Contact; or

 

 5.3.3        solicit, divert, entice, persu or take away from the Company or any Protected Affiliate the Company has a reasonable need to protect against (a “Protected Affiliate”), or attempt to do so or solicit for the purpose of doing so, any business of the Company or any Protected Affiliate, or any Person that was an employee or contractor of the Company or any Protected Affiliate (but in any case, with whom you have had business contact in the course of your employment with the Company during the 18 months prior to the Termination Date) to terminate, discontinue or alter to the detriment of the Company, his, her or its employment or engagement relationship with the Company or its Protected Affiliates or otherwise attempt to interfere with or damage the Company’s or a Protected Affiliate’s relationship with any such person.

 

		5.4	Provisions
                                         Reasonable

 

You
hereby acknowledge and agree that:

 

 5.4.1        the Company has a material interest in preserving the relationships it has developed with its Key Contacts against impairment by competitive activities of a former employee;

 

 5.4.2        during the course of your employment by the Company, you will acquire knowledge of, and you will come into contact with, initiate and establish relationships with Key Contacts, and that in some circumstances you may be the senior or sole representative of the Company or any Protected dealing with such Key Contacts; and

 

 5.4.3        in light of the foregoing, the provisions of Section 5.3 (Restrictive Covenant) are reasonable and necessary for the proper protection of the business, property and goodwill of the Company and the Business and any Protected Affiliate and you further agree that these restrictions and your agreement to them are of major importance to the Company, which would not employ or continue to employ you if you did not agree to them.

 

Non-Disparagement

     

     

    

	OFFICE
833.544.2637

        FAX
        647.243.8490

         

        22
        St. Clair Avenue East, Suit 1201 

        Toronto,
        Ontario, M4T 2S3, Canada

         

        4850
        W 78th St Indianapolis, Indiana, 46268, USA 
	 

  

Section
7.9 of the Employment Agreement is deleted and replaced with the following:

 

You
shall not, directly or indirectly, make any disparaging comments or criticisms (whether of a professional or personal nature and
including any comments, statements or postings via any social media website or application, including but not limited to Facebook,
Twitter, LinkedIn, Flickr, YouTube, Picase, Snapchat, Instagram, TikTok or Clubhouse) to any Person regarding the Company, any
Affiliate of the Company, the Key Contacts, or their respective directors, officers, employees or contractors (or the terms of
any agreement or arrangement of the Company) or regarding your relationship with the Company or any termination of such relationship
which, in each case, are reasonably expected to result in material damage to the business or reputation of the Company, any Affiliate
of the Company, a Key Contact, or any of their respective directors, officers, employees or contractors.

 

No
Other Amendments

 

The
parties acknowledge and agree that, except as specifically amended above in this letter agreement, the Employment Agreement (including
all definitions therein) remains in full force and effect, unamended. All capitalized terms in this letter agreement which are
not otherwise defined shall have the same meaning as in the Employment Agreement.

 

	/s/ Joe McCann	 
	For and on behalf of Point Biopharma Corp.	 

 

Acceptance

 

I
have read and understand the terms and conditions of employment set out in the Employment Agreement , as amended by this letter
agreement and I agree to and accept them freely and voluntarily. I confirm that I have had the opportunity to obtain advice regarding
its contents, including from counsel of my choice. I understand that, in the event of the termination of my employment (including
without just cause), my entitlements will be limited to those specified in this agreement.

 

Signed
in Toronto, Ontario on March _______, 2021.

 

	/s/
    Donna Husack	 	/s/
    Justyna Kelly
	Witness
    Signature	 	Justyna
    Kelly
	Name:	 Donna Husack

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