Document:

Exhibit 10.6 

 

Execution Version

 

 

INDEMNITY
AGREEMENT

 

THIS INDEMNITY
AGREEMENT (this “Agreement”) is made as of ____________, 2022, by and between LatAmGrowth SPAC, a Cayman Islands
exempted company (the “Company”), and _____________ (“Indemnitee”).

 

RECITALS

 

WHEREAS,
highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities
unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and
actions against them arising out of their service to and activities on behalf of such corporations;

 

WHEREAS,
the board of directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving
the Company and its subsidiaries, if any, from certain liabilities;

 

WHEREAS,
directors, officers and other persons in service to corporations or business enterprises are being increasingly subjected to expensive
and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company
or business enterprise itself;

 

WHEREAS,
the amended and restated memorandum and articles of association of the Company (the “Charter”) require indemnification
of the officers and directors of the Company, Indemnitee may also be entitled to indemnification pursuant to applicable Cayman Islands
law and the Charter provides that the indemnification provisions set forth therein are not exclusive, and thereby contemplates that contracts
may be entered into between the Company and members of the Board, officers and other persons with respect to indemnification, hold harmless,
exoneration, advancement and reimbursement rights;

 

WHEREAS,
the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

WHEREAS,
the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of
the Company’s shareholders and that the Company should act to assure such persons that there will be increased certainty of such
protection in the future;

 

WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and to
advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve
the Company free from undue concern that they will not be so protected against liabilities;

 

WHEREAS,
this Agreement is a supplement to and in furtherance of the Charter and any resolutions adopted pursuant thereto, and shall not be deemed
a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

 

WHEREAS,
Indemnitee may not be willing to serve as an officer or director, advisor or in another capacity, without adequate protection, and the
Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service
for or on behalf of the Company on the condition that he or she be so indemnified;

 

NOW, THEREFORE,
in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

     

     

    

 

TERMS AND CONDITIONS

 

1.            
SERVICES TO THE COMPANY. Indemnitee will serve or continue to serve as an officer, director, advisor, key employee or in
any other capacity of the Company, as applicable, for so long as Indemnitee is duly elected, appointed or retained or until Indemnitee
tenders his or her resignation or until Indemnitee is removed. The foregoing notwithstanding, this Agreement shall continue in full force
and effect as provided in Section 17. This Agreement, however, shall not impose any obligation on Indemnitee or the Company to
continue Indemnitee’s service to the Company beyond any period otherwise required by law or by other agreements or commitments of
the parties, if any.

 

 2.                DEFINITIONS. As used in this Agreement:

 

(a)                  
The term “agent” shall mean any person who is or was a director, officer or employee of the Company or
a subsidiary of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity
as a director, officer, employee, fiduciary or other official of another corporation, partnership, limited liability company, joint venture,
trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company or a subsidiary of the
Company.

 

(b)                  
The terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings
set forth in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

		(c)	        The term “Cayman Court” shall mean the courts of the Cayman Islands.

 

(d)                  
The term “Change in Control” shall mean the occurrence of the earliest to occur after the date of this
Agreement of any of the following events:

 

(i)                              
Acquisition of Shares by Third Party. Other than an affiliate of LatAmGrowth Sponsor LLC (the “Sponsor”),
any Person (as defined below) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifteen
percent (15%) or more of the combined voting power of the Company’s then outstanding securities entitled to vote generally in the
election of directors, unless (1) the change in the relative Beneficial Ownership of the Company’s securities by any Person results
solely from a reduction in the aggregate number of outstanding shares entitled to vote generally in the election of directors, or (2)
such acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition would not constitute a Change
in Control under part (iii) of this definition;

 

(ii)                            
Change in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose election
by the Board or nomination for election by the Company’s shareholders was approved by a vote of at least two thirds of the directors
then still in office who were directors on the date hereof or whose election for nomination for election was previously so approved (collectively,
the “Continuing Directors”), cease for any reason to constitute at least a majority of the members of the Board;

 

(iii)                         Corporate
Transactions. The effective date of a merger, share exchange, asset acquisition, share purchase, reorganization or similar
business combination involving the Company and one or more businesses (a “Business Combination”), in each
case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were the
Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 51% of the combined voting power of the then outstanding securities
of the Company entitled to vote generally in the election of directors resulting from such Business Combination (including, without
limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s
assets either directly or through one or more Subsidiaries (as defined below)) in substantially the same proportions as their
ownership immediately prior to such Business Combination, of the securities entitled to vote generally in the election of directors;
(2) other than an affiliate of the Sponsor, no Person (excluding any corporation resulting from such Business Combination) is the
Beneficial Owner, directly or indirectly, of 15% or more of the combined voting power of the then outstanding securities entitled to
vote generally in the election of directors of the surviving corporation except to the extent that such ownership existed prior to
the Business Combination; and (3) at least a majority of the Board of Directors of the corporation resulting from such Business
Combination were Continuing Directors at the time of the execution of the initial agreement, or of the action of the Board of
Directors, providing for such Business Combination;

 

     

     

    

 

(iv)                           
Liquidation. The approval by the shareholders of the Company of a complete liquidation of the Company or an agreement or
series of agreements for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than
factoring the Company’s current receivables or escrows due (or, if such approval is not required, the decision by the Board to proceed
with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

(v)                            
Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of
Schedule 14A of Regulation 14A (or any successor rule) (or a response to any similar item on any similar schedule or form) promulgated
under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

 

(e)                  
The term “Companies Law” shall mean the Companies Law (2018 Revision) of the Cayman Islands, as amended
from time to time.

 

(f)                    
The term “Corporate Status” describes the status of a person who is or was a director, officer, trustee,
general partner, managing member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such
person is or was serving at the request of the Company.

 

(g)                  
The term “Disinterested Director” shall mean a director of the Company who is not and was not a party
to the Proceeding (as defined below) in respect of which indemnification is sought by Indemnitee.

 

(h)                  
The term “Enterprise” shall mean the Company and any other corporation, constituent corporation (including
any constituent of a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries)
is a party, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee
is or was serving at the request of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee
or agent.

 

		(i)	       The term “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 

(j)                    
The term “Expenses” shall include all direct and indirect costs, fees and expenses of any type or nature
whatsoever, including, without limitation, all reasonable attorneys’ fees and costs, retainers, court costs, transcript costs, fees
of experts, witness fees, travel expenses, fees of private investigators and professional advisors, duplicating costs, printing and binding
costs, telephone charges, postage, delivery service fees, fax transmission charges, secretarial services and all other disbursements,
obligations or expenses in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing
to be a witness in, settlement or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable compensation
for time spent by Indemnitee for which he or she is not otherwise compensated by the Company or any third party. Expenses also shall include
Expenses incurred in connection with any appeal resulting from any Proceeding (as defined below), including without limitation the principal,
premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. Expenses,
however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

(k)                  
The term “Independent Counsel” shall mean a law firm or a member of a law firm with significant experience
in matters of corporate law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee
in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other
indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined below) giving rise to a claim
for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person
who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either
the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

     

     

    

 

(l)                     The
term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as in
effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any Subsidiaries (as
defined below) of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary (as defined below) of the Company
or of any corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as
their ownership of shares of the Company; and (iv) any trustee or other fiduciary holding securities under an employee benefit plan
of the Company or of a Subsidiary (as defined below) of the Company or of a corporation owned directly or indirectly by the
shareholders of the Company in substantially the same proportions as their ownership of shares of the Company.

 

(m)                
The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding,
whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims),
criminal, administrative or investigative or related nature, in which Indemnitee was, is, will or might be involved as a party or otherwise
by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action (or failure to act) taken
by him or her or of any action (or failure to act) on his or her part while acting as a director or officer of the Company, or by reason
of the fact that he or she is or was serving at the request of the Company as a director, officer, trustee, general partner, managing
member, fiduciary, employee or agent of any other Enterprise, in each case whether or not serving in such capacity at the time any liability
or expense is incurred for which indemnification, reimbursement, or advancement of expenses can be provided under this Agreement.

 

(n)                  
The term “Serving at the request of the Company” shall include any service as a director, officer, employee,
agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary
with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be
deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement.

 

(o)                  
The term “Subsidiary,” with respect to any Person, shall mean any corporation, limited liability company,
partnership, joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity interest
is owned, directly or indirectly, by that Person.

 

3.                     
INDEMNITY IN THIRD-PARTY PROCEEDINGS. To the fullest extent permitted by applicable law, the Company shall indemnify, hold
harmless and exonerate Indemnitee in accordance with the provisions of this Section 3 if Indemnitee was, is, or is threatened to
be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding, other than a Proceeding by or in the right
of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 3,
Indemnitee shall be indemnified, held harmless and exonerated against all Expenses, judgments, liabilities, fines, penalties and amounts
paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses,
judgments, fines, penalties and amounts paid in settlement) actually, and reasonably incurred by Indemnitee or on his or her behalf in
connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably
believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause
to believe that his or her conduct was unlawful.

 

4.                      INDEMNITY
IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY. To the fullest extent permitted by applicable law, the Company shall
indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 4 if Indemnitee was, is,
or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding by or in the right
of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section
4, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by him or
her or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company. No
indemnification, hold harmless or exoneration for Expenses shall be made under this Section 4 in respect of any claim, issue
or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the
extent that any court in which the Proceeding was brought or the Cayman Court shall determine upon application that, despite the
adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to
indemnification, to be held harmless or to exoneration.

 

     

     

    

 

5.              INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL. Notwithstanding any other provisions of this
Agreement except for Section 27, to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status, a party
to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter
therein, in whole or in part, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate
Indemnitee against all Expenses actually and reasonably incurred by him or her in connection therewith. If Indemnitee is not wholly successful
in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such
Proceeding, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against
all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection with each successfully resolved claim,
issue or matter. If Indemnitee is not wholly successful in such Proceeding, the Company also shall, to the fullest extent permitted by
applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably incurred in connection with a claim,
issue or matter related to any claim, issue, or matter on which Indemnitee was successful. For purposes of this Section and without limitation,
the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful
result as to such claim, issue or matter.

 

6.             
INDEMNIFICATION FOR EXPENSES OF A WITNESS. Notwithstanding any other provision of this Agreement except for Section 27,
to the extent that Indemnitee is, by reason of his or her Corporate Status, a witness or deponent in any Proceeding to which Indemnitee
is not a party, he or she shall, to the fullest extent permitted by applicable law, be indemnified, held harmless and exonerated against
all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection therewith.

 

7.              
ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS. Notwithstanding any limitation in Sections 3, 4,
or 5 and except for Section 27, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless
and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or
in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines, penalties and amounts paid in
settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments,
fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding. No
indemnification, hold harmless or exoneration rights shall be available under this Section 7 on account of Indemnitee’s conduct
which constitutes a breach of Indemnitee’s duty of loyalty to the Company or its shareholders or is an act or omission not in good
faith or which involves intentional misconduct or a knowing violation of the law.

 

		8.	CONTRIBUTION IN THE EVENT OF JOINT LIABILITY.

 

(a)                       
To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided
for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying,
holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments,
liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without
requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have
at any time against Indemnitee.

 

(b)                       
The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

(c)                       
The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may
be brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

     

     

    

 

9.            EXCLUSIONS.
Notwithstanding any provision in this Agreement except for Section 27, the Company shall not be obligated under this Agreement
to make any indemnification, advance expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

(a)                       
for which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement
provision or otherwise, except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement,
other indemnity or advancement provision or otherwise;

 

(b)                       
for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company
within the meaning of Section 16(b) of the Exchange Act (or any successor rule) or similar provisions of state statutory law or common
law; or

 

(c)                       
except as otherwise provided in Sections 14(e)-(f) hereof, prior to a Change in Control, in connection with any Proceeding
(or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee
against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any
part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, hold harmless or exoneration payment,
in its sole discretion, pursuant to the powers vested in the Company under applicable law. Indemnitee shall seek payments or advances
from the Company only to the extent that such payments or advances are unavailable from any insurance policy of the Company covering Indemnitee.

 

		10.	ADVANCES OF EXPENSES; DEFENSE OF CLAIM.

 

(a)                       
Notwithstanding any provision of this Agreement to the contrary except for Section 27, and to the fullest extent not prohibited
by applicable law, the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred by Indemnitee
within three months) in connection with any Proceeding within ten (10) days after the receipt by the Company of a statement or statements
requesting such advances from time to time, prior to the final disposition of any Proceeding. Advances shall, to the fullest extent permitted
by law, be unsecured and interest free. Advances shall, to the fullest extent permitted by law, be made without regard to Indemnitee’s
ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to be indemnified, held harmless or exonerated
under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing a Proceeding to
enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances
claimed. To the fullest extent required by applicable law, such payments of Expenses in advance of the final disposition of the Proceeding
shall be made only upon the Company’s receipt of an undertaking, by or on behalf of Indemnitee, to repay the advanced amounts to
the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified, held harmless or exonerated by the Company
under the provisions of this Agreement, the Charter, applicable law or otherwise. This Section 10(a) shall not apply to any claim
made by Indemnitee for which an indemnification, hold harmless or exoneration payment is excluded pursuant to Section 9.

 

		(b)	The Company will be entitled to participate in the Proceeding at its own expense.

 

(c)                       
The Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine,
penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

		11.	PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

 

(a)                       
Indemnitee agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification, hold harmless
or exoneration rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not relieve
the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

     

     

    

 

(b)                       
Indemnitee may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with
this Agreement. Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her
sole discretion. Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement to indemnification
shall be determined according to Section 12(a) of this Agreement.

 

		12.	PROCEDURE UPON APPLICATION FOR INDEMNIFICATION.

 

(a)                       
A determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made
in the specific case by one of the following methods: (i) if no Change in Control has occurred, (x) by a majority vote of the Disinterested
Directors, even though less than a quorum of the Board, (y) by a committee of Disinterested Directors, even though less than a quorum
of the Board, or (z) if there are no Disinterested Directors, or if such Disinterested Directors so direct, by Independent Counsel in
a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change in Control has occurred, by Independent
Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee. The Company promptly will advise Indemnitee
in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any
reason or basis for which indemnification has been denied. If it is so determined that Indemnitee is entitled to indemnification, payment
to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably cooperate with the person, persons
or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person,
persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from
disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including
reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making
such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification)
and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(b)                       
In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a)
hereof, the Independent Counsel shall be selected as provided in this Section 12(b). The Independent Counsel shall be selected
by Indemnitee (unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written notice to
the Company advising it of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected
meets the requirements of “Independent Counsel” as defined in Section 2 of this Agreement. If the Independent Counsel
is selected by the Board, the Company shall give written notice to Indemnitee advising him or her of the identity of the Independent Counsel
so selected and certifying that the Independent Counsel so selected meets the requirements of “Independent Counsel” as defined
in Section 2 of this Agreement. In either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after
such written notice of selection shall have been received, deliver to the Company or to Indemnitee, as the case may be, a written objection
to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected
does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection
shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall
act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve
as Independent Counsel unless and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection
is without merit. If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section
11(a) hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the
Cayman Court for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of
Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the Cayman Court, and the person with respect
to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof.
Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel
shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct
then prevailing).

 

(c)                       
The Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such
Independent Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its
engagement pursuant hereto.

 

     

     

    

 

		13.	PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS.

 

(a)                       
In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification
in accordance with Section 11(b) of this Agreement, and the Company shall have the burden of proof to overcome that presumption
in connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither the failure
of the Company (including by the Disinterested Directors or Independent Counsel) to have made a determination prior to the commencement
of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable
standard of conduct, nor an actual determination by the Company (including by the Disinterested Directors or Independent Counsel) that
Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has
not met the applicable standard of conduct.

 

(b)                       
If the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee
is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request
therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent permitted by law, be deemed to have
been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an
omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for
indemnification, or (ii) a final judicial determination that any or all such indemnification is expressly prohibited under applicable
law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional fifteen (15) days,
if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional
time for the obtaining or evaluating of documentation and/or information relating thereto.

 

(c)                       
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon
a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which
Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

(d)                       
For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action
is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee
by the directors, trustees, general partners, managers or managing members of the Enterprise in the course of their duties, or on the
advice of legal counsel for the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or
managing member of the Enterprise, or on information or records given or reports made to the Enterprise, its Board, any committee of the
Board or any director, trustee, general partner, manager or managing member of the Enterprise, by an independent certified public accountant
or by an appraiser or other expert selected by the Enterprise, its Board, any committee of the Board or any director, trustee, general
partner, manager or managing member. The provisions of this Section 13(d) shall not be deemed to be exclusive or to limit in any
way the other circumstances in which Indemnitee may be deemed or found to have met the applicable standard of conduct set forth in this
Agreement.

 

(e)                       
The knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary,
agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under
this Agreement.

 

     

     

    

 

		14.	REMEDIES OF INDEMNITEE.

 

(a)                        In
the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to
indemnification under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by applicable law, is not timely
made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made
pursuant to Section 12(a) of this Agreement within thirty (30) days after receipt by the Company of the request for
indemnification, (iv) payment of indemnification is not made pursuant to Section 5, 6, 7 or the last sentence
of Section 12(a) of this Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) a
contribution payment is not made in a timely manner pursuant to Section 8 of this Agreement, (vi) payment of indemnification
pursuant to Section 3 or 4 of this Agreement is not made within ten (10) days after a determination has been made that
Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee pursuant to any hold harmless or exoneration rights under
this Agreement or otherwise is not made within ten (10) days after receipt by the Company of a written request therefor, Indemnitee
shall be entitled to an adjudication by the Cayman Court to such indemnification, hold harmless, exoneration, contribution or
advancement rights. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single
arbitrator pursuant to the Commercial Arbitration Rules and Mediation Procedures of the American Arbitration Association. Except as
set forth herein, the provisions of Cayman Islands law (without regard to its conflict of laws rules) shall apply to any such
arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

 

(b)                       
In the event that a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is not
entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in
all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.
In any judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be entitled to
be indemnified, held harmless, exonerated to receive advances of Expenses under this Agreement and the Company shall have the burden of
proving Indemnitee is not entitled to be indemnified, held harmless, exonerated and to receive advances of Expenses, as the case may be,
and the Company may not refer to or introduce into evidence any determination pursuant to Section 12(a) of this Agreement adverse
to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 14, Indemnitee
shall not be required to reimburse the Company for any advances pursuant to Section 10 until a final determination is made with
respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed).

 

(c)                       
If a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement
not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable
law.

 

(d)                       
The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14
that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or
before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

(e)                       
The Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if requested
by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee, to the fullest
extent permitted by applicable law, such Expenses which are incurred by Indemnitee in connection with any judicial proceeding or arbitration
brought by Indemnitee (i) to enforce his or her rights under, or to recover damages for breach of, this Agreement or any other indemnification,
hold harmless, exoneration, advancement or contribution agreement or provision of the Charter now or hereafter in effect; or (ii) for
recovery or advances under any insurance policy maintained by any person for the benefit of Indemnitee, regardless of the outcome and
whether Indemnitee ultimately is determined to be entitled to such indemnification, hold harmless or exoneration right, advancement, contribution
or insurance recovery, as the case may be (unless such judicial proceeding or arbitration was not brought by Indemnitee in good faith).

 

(f)                         
Interest shall be paid by the Company to Indemnitee at the legal rate under New York law for amounts which the Company indemnifies,
holds harmless or exonerates, or is obliged to indemnify, hold harmless or exonerate for the period commencing with the date on which
Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement of any Expenses and ending
with the date on which such payment is made to Indemnitee by the Company.

 

     

     

    

 

15.            SECURITY. Notwithstanding anything herein to the contrary, to the extent requested by Indemnitee and approved by the Board,
the Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through
an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked
or released without the prior written consent of Indemnitee.

 

		16.	NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

 

(a)                       
The rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may
at any time be entitled under applicable law, the Charter, any agreement, a vote of shareholders or a resolution of directors, or otherwise.
No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under
this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened, commenced or completed) arising out
of, or related to, any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration or
repeal. To the extent that a change in applicable law, whether by statute or judicial decision, permits greater indemnification, hold
harmless or exoneration rights or advancement of Expenses than would be afforded currently under the Charter or this Agreement, then this
Agreement (without any further action by the parties hereto) shall automatically be deemed to be amended to require that the Company indemnify
Indemnitee to the fullest extent permitted by law. No right or remedy herein conferred is intended to be exclusive of any other right
or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now
or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other right or remedy.

 

(b)                       
The Companies Law and the Charter permit the Company to purchase and maintain insurance or furnish similar protection or make other
arrangements including, but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification Arrangements”)
on behalf of Indemnitee against any liability asserted against him or her or incurred by or on behalf of him or her or in such capacity
as a director, officer, employee or agent of the Company, or arising out of his or her status as such, whether or not the Company would
have the power to indemnify him or her against such liability under the provisions of this Agreement or under the Companies Law, as it
may then be in effect. The purchase, establishment, and maintenance of any such Indemnification Arrangement shall not in any way limit
or affect the rights and obligations of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the
execution and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect the rights and obligations
of the Company or the other party or parties thereto under any such Indemnification Arrangement.

 

(c)                       
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
trustees, partners, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which such person serves
at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum
extent of the coverage available for any such director, officer, trustee, partner, managing member, fiduciary, employee or agent under
such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as to which Indemnitee is a party
or a participant (as a witness or otherwise), the Company has director and officer liability insurance in effect, the Company shall give
prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall
thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result
of such Proceeding in accordance with the terms of such policies.

 

(d)                       
In the event of any payment under this Agreement, the Company, to the fullest extent permitted by law, shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary
to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

     

     

    

 

(e)                        The
Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving
at the request of the Company as a director, officer, trustee, partner, managing member, fiduciary, employee or agent of any other
Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration payments
or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary except for Section
27, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification, hold harmless,
exoneration, advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee prior to
the Company’s satisfaction and performance of all its obligations under this Agreement, and (ii) the Company shall perform
fully its obligations under this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any
indemnification, advancement, hold harmless, exoneration, contribution or insurance coverage rights against any person or entity
other than the Company.

 

(f)                         
To the extent Indemnitee has rights to indemnification, advancement of expenses and/or insurance provided by the Sponsor or its
affiliates (other than the Company) as applicable, (i) the Company shall be the indemnitor of first resort (i.e., that its obligations
to Indemnitee are primary and any obligation of the Sponsor or its respective affiliates, as applicable, to advance expenses or to provide
indemnification for the same expenses or liabilities incurred by Indemnitee are secondary), (ii) the Company shall be required to advance
the full amount of expenses incurred by Indemnitee and shall be liable for the full amount of all claims, liabilities, damages, losses,
costs and expenses (including amounts paid in satisfaction of judgments, in compromises and settlements, as fines and penalties and legal
or other costs and reasonable expenses of investigating or defending against any claim or alleged claim) to the extent legally permitted
and as required by the terms of this Agreement, the Company’s organizational documents or other agreement, without regard to any
rights Indemnitee may have against the Sponsor or its affiliates, as applicable, and (iii) the Company irrevocably waives, relinquishes
and releases the Sponsor and its affiliates, as applicable, from any and all claims against them for contribution, subrogation or any
other recovery of any kind in respect thereof. No advancement or payment by the Sponsor or its affiliates, as applicable, on behalf of
Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing, and
the Sponsor and its affiliates, as applicable, shall have a right of contribution and be subrogated to the extent of such advancement
or payment to all of the rights of recovery of Indemnitee against the Company.

 

17.                  
DURATION OF AGREEMENT. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee
serves as a director or officer of the Company or as a director, officer, trustee, partner, managing member, fiduciary, employee or agent
of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which Indemnitee serves at the
request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding (including any
rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement) by reason of his
or her Corporate Status, whether or not he is acting in any such capacity at the time any liability or expense is incurred for which indemnification
or advancement can be provided under this Agreement.

 

18.                  
SEVERABILITY. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for
any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without
limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall
remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary
to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible,
the provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall
be construed so as to give effect to the intent manifested thereby.

 

		19.	ENFORCEMENT AND BINDING EFFECT.

 

(a)                       
The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as a director, officer or key employee of the Company.

 

     

     

    

 

(b)                       
Without limiting any of the rights of Indemnitee under the Charter as they may be amended from time to time, this Agreement constitutes
the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings,
oral, written and implied, between the parties hereto with respect to the subject matter hereof.

 

(c)                       
The indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), shall
continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or director or officer of any
other Enterprise at the Company’s request, and shall inure to the benefit of Indemnitee and his or her spouse, assigns, heirs, devisees,
executors and administrators and other legal representatives.

 

(d)                       
The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise)
to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance
satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform if no such succession had taken place.

 

(e)                       
The Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties
hereto agree that Indemnitee may, to the fullest extent permitted by law, enforce this Agreement by seeking, among other things, injunctive
relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive
relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which he may be entitled.
The Company and Indemnitee further agree that Indemnitee shall, to the fullest extent permitted by law, be entitled to such specific performance
and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity
of posting bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver, a bond or undertaking
may be required of Indemnitee by a court of competent jurisdiction, and the Company hereby waives any such requirement of such a bond
or undertaking to the fullest extent permitted by law.

 

20.           
MODIFICATION AND WAIVER. No supplement, modification or amendment of this Agreement shall be binding unless executed in
writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any
other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

 

21.            
NOTICES. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed
to have been duly given (i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have
been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after the date on
which it is so mailed:

 

(a)           If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide
in writing to the Company.

 

		(b)	If to the Company, to: LatAmGrowth SPAC

 

Pedregal 24 8th Floor

Molino del Rey, 11000 Mexico City, Mexico

With a copy, which shall not constitute notice, to

 

Shearman & Sterling LLP Bank of America Tower

800 Capitol Street, Suite 2200

Houston, Texas 77002 Attn: William B. Nelson Tel: (713)
354-4900

 

or to any other address as may have been furnished to Indemnitee
in writing by the Company.

 

     

     

    

 

22.           APPLICABLE LAW AND CONSENT TO JURISDICTION. This Agreement and the legal relations among the parties shall be governed by,
and construed and enforced in accordance with, the laws of the State of New York, without regard to its conflict of laws rules. Except
with respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, to the fullest extent permitted
by law, the Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of or in
connection with this Agreement shall be brought only in the Cayman Court and not in any state or federal court in the United States of
America or any court in any other country; (b) consent to submit to the exclusive jurisdiction of the Cayman Court for purposes of any
action or proceeding arising out of or in connection with this Agreement; (c) waive any objection to the laying of venue of any such action
or proceeding in the Cayman Court; and (d) waive, and agree not to plead or to make, any claim that any such action or proceeding brought
in the Cayman Court has been brought in an improper or inconvenient forum, or is subject (in whole or in part) to a jury trial.

 

23.          
IDENTICAL COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall for all purposes
be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by
the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

24.         
MISCELLANEOUS. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this
Agreement or to affect the construction thereof.

 

25.          
PERIOD OF LIMITATIONS. No legal action shall be brought and no cause of action shall be asserted by or in the right of the
Company against Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration of two
years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed
released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period
of limitations is otherwise applicable to any such cause of action such shorter period shall govern.

 

26.          
ADDITIONAL ACTS. If for the validation of any of the provisions in this Agreement any act, resolution, approval or other
procedure is required to the fullest extent permitted by law, the Company undertakes to cause such act, resolution, approval or other
procedure to be affected or adopted in a manner that will enable the Company to fulfill its obligations under this Agreement.

 

27.           WAIVER OF CLAIMS TO TRUST ACCOUNT. Notwithstanding anything contained herein to the contrary, Indemnitee hereby agrees that
it does not have any right, title, interest or claim of any kind (each, a “Claim”) in or to any monies in the
trust account established in connection with the Company’s initial public offering for the benefit of the Company and holders of
shares issued in such offering (the “Trust Account”), and hereby waives any Claim it may have in the future
as a result of, or arising out of, any services provided to the Company and will not seek recourse against such Trust Account for any
reason whatsoever. Accordingly, Indemnitee acknowledges and agrees that any indemnification provided hereto will only be able to be satisfied
by the Company if (i) the Company has sufficient funds outside of the Trust Account to satisfy its obligations hereunder or (ii) the Company
consummates an initial business combination.

 

28.            MAINTENANCE
OF INSURANCE. The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period
for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with
reputable insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and
omissions and to ensure the Company’s performance of its indemnification obligations under this Agreement. The Indemnitee
shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available
for any such director or officer under such policy or policies. In all such insurance policies, the Indemnitee shall be named as an
insured in such a manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most favorably
insured of the Company’s directors and officers.

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Indemnity Agreement to be signed as of the day and year first above written.

 

	 	LATAMGROWTH SPAC
	 	 	 	 
	 	By:	 
	 	 	Name:	Gerard Cremoux
	 	 	Title:	Chief Executive Officer, 

Chief Investment Officer & Director
	 	 	 	 
	 	 	 	 
	 	INDEMNITEE 
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Address:	
     c/o LatAmGrowth SPAC

    Pedregal 24

    8th Floor

    Molino del Rey, 11000

    Mexico City, Mexico

 

[Signature Page to Indemnity Agreement]EX-4.10

Table of Contents

 Exhibit 4.10 
  

COLUMBIA CARE INC., AS ISSUER 

AND 
 ODYSSEY TRUST
COMPANY, AS TRUSTEE 
  
  

SECOND SUPPLEMENTAL INDENTURE  

Dated as of June 29, 2021 

Providing for the issuance of US$74,500,000 aggregate principal amount of 6.00% 

Senior Secured Convertible Notes due June 29, 2025 
  

 
  

Table of Contents

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1
	  			
	 DEFINITION AND INTERPRETATION
	  	 	3	 
	 Section 1.1
	 	 To Be Read With Indenture
	  	 	3	 
	 Section 1.2
	 	 Definitions
	  	 	3	 
	 Section 1.3
	 	 Conflicts with Indenture
	  	 	4	 
	 Section 1.4
	 	 Headings, etc.
	  	 	4	 
	 Section 1.5
	 	 Governing Law
	  	 	4	 
		
	 ARTICLE 2
	  			
	 2025 CONVERTIBLE NOTES
	  	 	5	 
	 Section 2.1
	 	 Creation and Designation of 2025 Convertible Notes
	  	 	5	 
	 Section 2.2
	 	 Aggregate Principal Amount
	  	 	5	 
	 Section 2.3
	 	 Authentication
	  	 	5	 
	 Section 2.4
	 	 Date of Issue and Maturity
	  	 	5	 
	 Section 2.5
	 	 Currency
	  	 	5	 
	 Section 2.6
	 	 Interest
	  	 	6	 
	 Section 2.7
	 	 Permitted Pari-Passu Indebtedness and First-Lien Indebtedness
	  	 	6	 
	 Section 2.8
	 	 Optional Redemption
	  	 	6	 
	 Section 2.9
	 	 Form of 2025 Convertible Notes
	  	 	6	 
	 Section 2.10
	 	 Mandatory Redemption and Market Purchases
	  	 	7	 
	 Section 2.11
	 	 Appointment
	  	 	7	 
		
	 ARTICLE 3
	  			
	 CONVERSION OF NOTES
	  	 	7	 
	 Section 3.1
	 	 Note Conversion
	  	 	7	 
	 Section 3.2
	 	 Conversion by U.S. Persons
	  	 	9	 
	 Section 3.3
	 	 Transfer Fees and Taxes
	  	 	10	 
	 Section 3.4
	 	 Note Agency
	  	 	10	 
	 Section 3.5
	 	 Securities Restrictions
	  	 	10	 
		
	 ARTICLE 4
	  			
	 ADJUSTMENT OF NUMBER OF COMMON SHARES AND CONVERSION PRICE
	  	 	10	 
	 Section 4.1
	 	 Adjustment of Number of Common Shares and Conversion Price
	  	 	10	 
	 Section 4.2
	 	 Entitlement to Common Shares on Conversion of 2025 Convertible Notes
	  	 	14	 
	 Section 4.3
	 	 No Adjustment for Certain Transactions
	  	 	14	 
	 Section 4.4
	 	 Determination by Auditors
	  	 	14	 
	 Section 4.5
	 	 Proceedings Prior to any Action Requiring Adjustment
	  	 	14	 
	 Section 4.6
	 	 Certificate of Adjustment
	  	 	14	 
	 Section 4.7
	 	 Notice of Special Matters
	  	 	15	 
	 Section 4.8
	 	 Protection of Trustee
	  	 	15	 
	 Section 4.9
	 	 Other Adjustments
	  	 	15	 
	 Section 4.10
	 	 Participation by Holder.
	  	 	15	 
		
	 ARTICLE 5
	  			
	 MISCELLANEOUS
	  	 	16	 
	 Section 5.1
	 	 Acceptance of Trust
	  	 	16	 
	 Section 5.2
	 	 Confirmation of Indenture
	  	 	16	 
	 Section 5.3
	 	 Effective Date
	  	 	16	 
	 Section 5.4
	 	 Counterparts
	  	 	16	 
	 Section 5.5
	 	 Fax/Email
	  	 	16	 
	 Section 5.6
	 	 Force Majeure
	  	 	16	 
	 Section 5.7
	 	 Trial by Jury
	  	 	16	 

  
 (i) 

Table of Contents

 ADDENDA 
  

			
	 Schedule “A”
	 	FORM OF NOTE CERTIFICATE
	 Schedule “B”
	 	FORM OF NOTICE OF CONVERSION

  
 (ii) 

Table of Contents

 THIS SECOND SUPPLEMENTAL INDENTURE dated as of June 29, 2021 

BETWEEN: 
 COLUMBIA CARE INC., a
company subsisting under the laws of the Province of British Columbia (hereinafter called the “Issuer”) 
 - and - 

ODYSSEY TRUST COMPANY, a trust company incorporated under the laws of the Province of Alberta authorized to carry on the business of a
trust company in British Columbia (hereinafter called the “Trustee”). 
 WHEREAS the Issuer has entered into a
master trust indenture (the “Indenture”) with the Trustee dated as of May 14, 2020 which provides for the issuance of one or more series of notes by way of Supplemental Indentures; 

AND WHEREAS pursuant to Section 14.5 of the Indenture, the Issuer and the Trustee may enter into Supplemental Indentures providing
for the issue of any series of notes and for establishing the terms, provisions and conditions of a particular series of Notes; 
 AND
WHEREAS this Second Supplemental Indenture is entered into for the purpose of providing for the issuance Notes to be designated as “6% Senior Secured Convertible Notes due June 29, 2025” pursuant to the Indenture and establishing
the terms, provisions and conditions of the Notes; 
 AND WHEREAS the foregoing recitals are made as representations and statements
of fact by the Issuer and not by the Trustee; 
 NOW THEREFORE THIS SECOND SUPPLEMENTAL INDENTURE WITNESSETH that in consideration of
the foregoing and the mutual agreements contained herein (the receipt and adequacy of which are acknowledged), the parties agree as follows: 

ARTICLE 1 
 DEFINITION
AND INTERPRETATION 
  

	Section 1.1	 To Be Read With Indenture. 

This Second Supplemental Indenture is a supplemental indenture to the Indenture. The Indenture (except for Article 4) and this Second
Supplemental Indenture will be read together and will have effect as though all the provisions of both indentures were contained in one instrument. If any terms of the Indenture are inconsistent with the express terms or provisions hereof, the terms
of this Second Supplemental Indenture shall prevail to the extent of the inconsistency. 
  

	Section 1.2	 Definitions. 

All terms which are defined in the Indenture and used but not defined in this Second Supplemental Indenture have the meanings ascribed to them
in the Indenture, as such meanings may be amended or supplemented by this Second Supplemental Indenture. In addition, the following terms shall have the meanings specified below: 

“2025 Convertible Notes” means the 6% Senior Secured Convertible Notes due June 29, 2025.” 

“2025 Convertible Notes Certificate” has the meaning given to it in Section 2.9. 

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 “2025 Convertible Notes Maturity Date” has the meaning given to it in
Section 2.4. 
 “2025 Convertible Notes Record Date” means the close of business on December 19 and June 19
immediately preceding the relevant Interest Payment Date. 
 “Additional 2025 Convertible Notes” means any 2025 Convertible
Notes issued under and pursuant to the terms of and subject to the conditions of this Indenture after the initial Issue Date. 

“Common Shares” means the common shares in the capital of the Issuer. 

“Conversion Notice” has the meaning given to it in Section 3.1(h). 

“Conversion Price” has the meaning given to it in Section 3.1(a). 

“Conversion Share” has the meaning given to it in Section 3.1(a). 

“Interest Payment Date” means June 29 and December 29 of each year that the 2025 Convertible Notes are outstanding
and (except in respect of any Additional 2025 Convertible Notes) commencing on December 29, 2021. 
 “Interest Period”
means the period commencing on the later of (a) the date of issue of the 2025 Convertible Notes and (b) the immediately preceding Interest Payment Date on which interest has been paid, and ending on the day immediately preceding the
Interest Payment Date in respect of which interest is payable. 
 “Note Share” has the meaning given to it in
Section 3.1(a). 
  

	Section 1.3	 Conflicts with Indenture 

In the event of any inconsistency between the meaning given to a term in the Indenture and the meaning given to the same term in this Second
Supplemental Indenture, the meaning given to the term in this Second Supplemental Indenture shall prevail to the extent of the inconsistency; provided, however, that the terms and provisions of this Second Supplemental Indenture may modify or amend
the terms and provisions of the Indenture solely as applied to the 2025 Convertible Notes. 
  

	Section 1.4	 Headings, etc. 

The division of this Second Supplemental Indenture into Articles, Sections and paragraphs, the inclusion of a table of contents and the
insertion of headings are for convenience of reference only and shall not affect the construction or interpretation of this Second Supplemental Indenture. 
  

	Section 1.5	 Governing Law. 

This Second Supplemental Indenture shall be governed by and construed in accordance with the laws of the Province of British Columbia and the
laws of Canada applicable therein. 

  
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 ARTICLE 2 

2025 CONVERTIBLE NOTES 
  

	Section 2.1	 Creation and Designation of 2025 Convertible Notes 

In accordance with the Indenture and this Second Supplemental Indenture, the Issuer is authorized to issue a series of Notes designated
“6% Senior Secured Convertible Notes due June 29, 2025” having the terms set forth in this Article 2. 
  

	Section 2.2	 Aggregate Principal Amount 

The aggregate principal amount of 2025 Convertible Notes which may be issued under this Second Supplemental Indenture is unlimited, provided,
however, that the maximum principal amount of 2025 Convertible Notes initially issued hereunder on the Issue Date shall be US$74,500,000. The Issuer may, from time to time, without the consent of any existing Holders but subject to Section 7.10
of the Indenture, create and issue Additional 2025 Convertible Notes hereunder having the same terms and conditions as the 2025 Convertible Notes in all respects, except for the date of issuance, issue price and first payment of interest thereon.
Additional 2025 Convertible Notes so created and issued will be consolidated with and form a single series with the 2025 Convertible Notes. 
  

	Section 2.3	 Authentication 

The Trustee shall initially authenticate one or more Global Notes and/or Definitive Notes, as directed by the Issuer in the Authentication
Order, for original issue on the Initial Issue Date in an aggregate principal amount of US$74,500,000 or otherwise to permit transfers or exchanges in accordance with Section 5.6 of the Indenture upon receipt by the Trustee of a duly executed
Authentication Order. After the Initial Issue Date, subject to Section 2.2, the Issuer may issue, from time to time, and the Trustee shall authenticate upon receipt of an Authentication Order and the items listed in Section 3.2(d) of the
Indenture, Additional 2025 Convertible Notes for original issue. Except as provided in Section 7.10 of the Indenture, there is no limit on the amount of Additional 2025 Convertible Notes that may be issued hereunder. Each such Authentication
Order shall specify the principal amount of 2025 Convertible Notes to be authenticated and the date on which such 2025 Convertible Notes are to be authenticated. The aggregate principal amount of 2025 Convertible Notes outstanding at any time may
not exceed the aggregate principal amount specified in the Authentication Orders provided in respect of original issues of 2025 Convertible Notes except as provided in Section 3.10 of the Indenture. For certainty, the Trustee shall not be
obligated or liable to ensure that the Issuer is in compliance with the limitations in Section 7.10 of, or any other covenants under, the Indenture, and shall be entitled to rely on an Officers’ Certificate from the Issuer certifying such
compliance for any Additional 2025 Convertible Notes so issued. 
  

	Section 2.4	 Date of Issue and Maturity 

The 2025 Convertible Notes will be dated June 29, 2021 and the 2025 Convertible Notes will become due and payable, together with all
accrued and unpaid interest thereon, on June 29, 2025 (the “2025 Convertible Notes Maturity Date”). 
  

	Section 2.5	 Currency 

The principal of the 2025 Convertible Notes and interest thereon and all sums that may at any time become payable thereon, whether at 2025
Convertible Notes Maturity Date or otherwise, shall be payable in lawful money of the United States of America as provided herein. 

  
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	Section 2.6	 Interest 

 

	 	(a)	 The 2025 Convertible Notes will bear interest on the unpaid principal amount thereof at the rate of 6% per
annum from their respective Issue Date to, but excluding, the 2025 Convertible Notes Maturity Date, compounded semi-annually and payable in arrears on each Interest Payment Date. The first Interest Payment Date for the initial 2025 Convertible Notes
will be December 29, 2021. 

  

	 	(b)	 Interest will be payable in respect of each Interest Period (after, as well as before, the 2025 Convertible
Notes Maturity Date, default and judgment, with interest overdue on principal and interest at a rate that is 1% higher than the applicable rate on the 2025 Convertible Notes) on each Interest Payment Date in accordance with Section 3.11 and
Section 3.14 of the Indenture. Interest on the 2025 Convertible Notes will accrue from their respective Issue Date or, if interest has already been paid, from and including the last Interest Payment Date therefor to which interest has been paid
or made available for payment. Interest will be computed on the basis of a 365-day or 366-day year, as applicable, and will be payable in equal semi-annual amounts;
except that interest in respect of any period that is shorter than a full semi-annual interest period will be computed on the basis of a 365-day or 366- day year, as
applicable, and the actual number of days elapsed in that period. 

  

	Section 2.7	 Permitted Pari-Passu Indebtedness and First-Lien Indebtedness 

The 2025 Convertible Notes authorized hereunder shall be deemed Permitted Pari Passu Indebtedness for the purposes of Section 7.10(b)(i)
of the Indenture and shall be a direct senior secured obligation of the Issuer secured by a First-Priority Lien in certain Collateral of the Issuer and Guarantors in favour of the Collateral Trustee pursuant to the Security Documents and, for
greater certainty, shall be First-Lien Indebtedness of the Issuer ranking equally and rateably with all other First-Lien Indebtedness of the Issuer pursuant to Section 2.1 of the Indenture. 

 

	Section 2.8	 Optional Redemption 

On or after June 29, 2023, the Issuer may, on any one or more occasions, redeem all or part of the 2025 Convertible Notes, upon not less
than 15 nor more than 60 days’ notice, at a Redemption Price equal to 100% of the principal amount of the 2025 Convertible Notes redeemed, plus accrued but unpaid interest, if any, to but excluding the Redemption Date (subject to the right of
Holders on the relevant Record Date to receive interest due on the relevant Interest Payment Date), provided that the volume weighted average price of the Common Shares on the Canadian Securities Exchange or the Neo Exchange Inc. (the
“Exchanges”) for 15 of the 30 trading days immediately preceding the day on which the Issuer exercises this redemption right, whichever is higher, exceeds 120% of the Conversion Price. 

 

	Section 2.9	 Form of 2025 Convertible Notes 

 

	 	(a)	 The Trustee shall authenticate one or more Global Notes and/or Definitive Notes in the form substantially set
out in Schedule “A” hereto (the “2025 Convertible Notes Certificate”) with such insertions, deletions, substitutions and variations as may be required or permitted by the terms of the Indenture or as may be
required to comply with any law or the rules of the Depository; and 

  

	 	(b)	 the Notes shall bear such distinguishing letters, numbers and legends as the Trustee and the Issuer may
approve, including such legend as may be set out in Schedule “A” hereto, notwithstanding Section 3.3 and Section 3.13 of the Indenture. 

  
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	Section 2.10	 Mandatory Redemption and Market Purchases 

 

	 	(a)	 The Issuer is not required to make mandatory redemption or sinking fund payments with respect to the 2025
Convertible Notes; provided, however, that the Issuer may be required to offer to purchase the 2023 Notes pursuant to Sections 7.14 and 7.15 of the Indenture. 

 

	 	(b)	 The Issuer may at any time and from time to time purchase the 2025 Convertible Notes (including any Additional
2025 Convertible Notes) by means other than a redemption, whether by a tender offer, open market purchases, negotiated transactions, private agreement or otherwise at any price in accordance with Applicable Securities Legislation, so long as such
acquisition does not violate the terms of this Second Supplemental Indenture or the Indenture. 

  

	Section 2.11	 Appointment 

 

	 	(a)	 The Trustee will be the trustee for the 2025 Convertible Notes, subject to Article 13 of the Indenture.

  

	 	(b)	 The Issuer initially appoints CDS to act as Depository with respect to the 2025 Convertible Notes.

  

	 	(c)	 The Issuer initially appoints the Trustee at its corporate office in Vancouver, British Columbia to act as the
Registrar, transfer agent, authentication agent and Paying Agent with respect to the 2025 Convertible Notes. The Issuer may change the Registrar, transfer agent, authentication agent or Paying Agent for the 2025 Convertible Notes at any time and
from time to time without prior notice to the Holders of the 2025 Convertible Notes. 

 ARTICLE 3 

CONVERSION OF NOTES 
  

	Section 3.1	 Note Conversion. 

 

	 	(a)	 The 2025 Convertible Notes shall be convertible, at the option of the holder thereof, from the date of issuance
of the 2025 Convertible Notes until the date that is 10 days prior to the 2025 Convertible Notes Maturity Date (the “Conversion Period”) into common shares of the Issuer (the “Note Shares”) at a
conversion price per Note Share equal to US$6.49 payable on the Business Day prior to the date of conversion (the “Conversion Price”), adjusted downwards for any cash dividends paid to holders of Common Shares, all
subject to the terms and conditions and in the manner set forth herein. 

  

	 	(b)	 For the purposes of this Section 3.1, a 2025 Convertible Note surrendered for conversion shall be deemed
to be surrendered on the earlier of the date received by the Trustee or the 2025 Convertible Notes Maturity Date, provided that the register of the Trustee is open and received all necessary documentation in respect of the conversion; provided that
if a 2025 Convertible Note is surrendered for conversion on a day on which the register of Common Shares is closed, the person or persons entitled to receive Common Shares shall become the holder or holders of record of such Common Shares as at the
date on which such registers are next reopened. 

  

	 	(c)	 [Intentionally Deleted] 

  
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	 	(d)	 Upon the delisting or suspension of trading of the Common Shares from both of the Exchanges for a period
exceeding 30 consecutive trading days (provided that the Common Shares are not subsequently listed on another nationally recognized exchange), the Issuer is required to make an offer, at the option of each holder, to purchase all of the 2025
Convertible Notes in cash in an amount equal to the then applicable Redemption Price. 

  

	 	(e)	 A beneficial Holder of uncertificated 2025 Convertible Notes evidenced by a security entitlement in respect of
2025 Convertible Notes in the book entry registration system who desires to convert his or her Notes must do so by causing a participant in the Depository’s book entry registration system for the 2025 Convertible Notes (the “Book Entry
Only Participant”) to deliver to the Depository on behalf of the entitlement holder, notice of the owner’s intention to convert 2025 Convertible Notes in a manner acceptable to the Depository. Forthwith upon receipt by the Depository
of such notice, the Depository shall deliver to the Trustee confirmation of its intention to convert Notes (“Confirmation”) in a manner acceptable to the Trustee, including by electronic means through the book entry registration
system. 

  

	 	(f)	 A notice in form acceptable to the Book Entry Only Participant should be provided to the Book Entry Only
Participant sufficiently in advance so as to permit the Book Entry Only Participant to deliver notice and payment to the Depository and for the Depository in turn to deliver notice and payment to the Trustee prior to the 2025 Convertible Note
Maturity Date. The Depository will initiate the conversion by way of the Confirmation and the Trustee will execute the conversion by issuing to the Depository through the book entry registration system or as a physical certificate the Common Shares
to which the exercising Holder is entitled pursuant to the conversion. Any expense associated with the conversion process will be for the account of the entitlement holder converting the 2025 Convertible Notes and the Book Entry Only Participant
exercising the 2025 Convertible Note on its behalf. 

  

	 	(g)	 By causing a Book Entry Only Participant to deliver notice to the Depository, a Holder shall be deemed to have
irrevocably surrendered his or her Notes so converted and appointed such Book Entry Only Participant to act as his or her exclusive settlement agent with respect to the conversion and the receipt of Common Shares in connection with the obligations
arising from such conversion. 

  

	 	(h)	 Any notice which the Depository determines to be incomplete, not in proper form or not duly executed shall for
all purposes be void and of no effect and the conversion to which it relates shall be considered for all purposes not to have been converted thereby. A failure by a Book Entry Only Participant to convert or to give effect to the settlement thereof
in accordance with the Holders instructions will not give rise to any obligations or liability on the part of the Issuer or Trustee to the Book Entry Only Participant or the Holder. 

 

	 	(i)	 Any conversion notice for the 2025 Convertible Notes substantially in the form as set out in Schedule
“B” attached hereto (the “Conversion Notice”) referred to in this Article 3. shall be signed by the persons who are registered owners of Notes as such names appear on the register, and for greater certainty, shall include
the Depository as well as the holders of uncertificated 2025 Convertible Notes appearing on the register of the Trustee (the “Registered Holder”), or its executors or administrators or other legal representatives or an attorney of
the Registered Holder, duly appointed by an instrument in writing satisfactory to the Trustee but such conversion form need not be executed by the Depository. 

 

	 	(j)	 Any conversion referred to in this Section 3.1 shall require that the original Conversion Notice executed
by the Registered Holder or the Confirmation from the Depository must be received by the Trustee prior to the 2025 Convertible Note Maturity Date. 

  
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	 	(k)	 Notwithstanding the foregoing in this Section 3.1, a 2025 Convertible Notes may only be converted pursuant
to this Section 3.1 by or on behalf of a Registered Holder, except the Depository or Holder, as applicable, who makes the certifications set forth on the Conversion Notice set out in Schedule “B” . 

 

	 	(l)	 If the form of Conversion Notice set forth in the 2025 Convertible Notes Certificate shall have been amended,
the Issuer shall cause the amended Conversion Notice to be forwarded to all Registered Holder. 

  

	 	(m)	 Conversion Notices and Confirmations must be delivered to the Trustee at any time during the Trustee’s
actual business hours on any Business Day prior to the 2025 Convertible Notes Maturity Date. Any Conversion Notice or Confirmations received by the Trustee after business hours on any Business Day will be deemed to have been received by the Trustee
on the next following Business Day. 

  

	 	(n)	 Any 2025 Convertible Notes with respect to which a Conversion Notice or a Confirmation is not received by the
Trustee prior to the 2025 Convertible Notes Maturity Date shall be deemed to have expired and become void and all rights with respect to such 2025 Convertible Notes shall terminate and be cancelled. 

 

	Section 3.2	 Conversion by U.S. Persons. 

 

	 	(a)	 The 2025 Convertible Notes issuable pursuant to this Second Supplemental Indenture and the Common Shares
issuable on the conversion thereof have not been, and will not be, registered under the U.S. Securities Act or the securities laws of any state of the United States. 

 

	 	(b)	 Each 2025 Convertible Notes Certificate originally issued in the United States or to, or for the account or
benefit of, a person in the United States or a U.S. Person, and all certificates representing Common Shares issued on the conversion thereof, and all certificates issued in exchange or in substitution thereof or upon transfer thereof, shall bear the
following legend: 

 “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY ACQUIRING THESE SECURITIES, AGREES FOR THE BENEFIT OF COLUMBIA CARE INC. (THE “CORPORATION”), THAT
SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY, ONLY (A) TO THE CORPORATION, (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT AND IN
COMPLIANCE WITH APPLICABLE CANADIAN LOCAL LAWS AND REGULATIONS, (C) IN COMPLIANCE WITH (1) RULE 144A UNDER THE U.S. SECURITIES ACT, IF APPLICABLE, OR (2) RULE 144 UNDER THE U.S. SECURITIES ACT, IF APPLICABLE, AND, IN EACH CASE, IN
COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS, OR (D) IN ANOTHER TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, PROVIDED THAT IN THE CASE OF TRANSFERS PURSUANT TO (C)(2)
OR (D) ABOVE, A LEGAL OPINION FROM COUNSEL OF RECOGNIZED STANDING IN FORM AND SUBSTANCE SATISFACTORY TO THE CORPORATION MUST FIRST BE PROVIDED TO ODYSSEY TRUST COMPANY AND TO THE ISSUER TO THE EFFECT THAT SUCH TRANSFER IS EXEMPT FROM
REGISTRATION UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. 

  
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 DELIVERY OF THIS CERTIFICATE MAY NOT CONSTITUTE “GOOD DELIVERY” IN SETTLEMENT OF
TRANSACTIONS ON STOCK EXCHANGES IN CANADA.” 
 No transfer of 2025 Convertible Notes evidenced by a 2025 Convertible Notes Certificate
bearing the legend set forth in Section 3.2(b) above shall be made except in accordance with the requirements of such legend and subject to this Second Supplemental Indenture. 

 

	Section 3.3	 Transfer Fees and Taxes. 

If any Common Shares are to be issued to a person or persons other than the Registered Holder, the Registered Holder shall execute the form of
transfer and will comply with such reasonable requirements as the Trustee may stipulate and will pay to the Issuer or the Trustee on behalf of the Issuer, all applicable transfer or similar taxes and the Issuer will not be required to issue or
deliver certificates evidencing the Common Shares unless or until such Holder shall have paid to the Issuer or the Trustee on behalf of the Issuer, the amount of such tax or shall have established to the satisfaction of the Issuer and the Trustee
that such tax has been paid or that no tax is due. 
  

	Section 3.4	 Note Agency. 

To facilitate the exchange, transfer or conversion of 2025 Convertible Notes and compliance with such other terms and conditions hereof as may
be required, the Issuer has appointed the principal office of the Trustee in the city of Vancouver (the “Note Agency”), as the agency at which 2025 Convertible Notes may be surrendered for exchange or transfer or at which
2025 Convertible Notes may be converted and the Trustee has accepted such appointment. The Issuer may from time to time designate alternate or additional places as the Note Agency (subject to the Trustee’s prior approval) and will give notice
to the Trustee of any proposed change of the Note Agency. Branch registers shall also be kept at such other place or places, if any, as the Issuer, with the approval of the Trustee, may designate. The Trustee will from time to time when requested to
do so by the Issuer or any Registered Holder, upon payment of the Trustee’s reasonable charges, furnish a list of the names and addresses of Registered Holder showing the number of 2025 Convertible Notes held by each such Registered Holder.

  

	Section 3.5	 Securities Restrictions. 

Notwithstanding anything herein contained, Common Shares will be issued upon conversion of a Holder only in compliance with the securities laws
of any applicable jurisdiction and, without limiting the generality of the foregoing, the Issuer will legend the certificates representing the Common Shares if, in the opinion of counsel to the Trustee or Issuer, such legend is necessary in order to
comply with the securities law of any applicable jurisdiction or the rules of any applicable stock exchange. Notwithstanding any other provisions of this Second Supplemental Indenture, in processing and registering transfers of 2025 Convertible
Notes, and in processing conversions of 2025 Convertible Notes, no duty or responsibility whatsoever shall rest upon the Trustee to determine the compliance by any transferor or transferee or by a holder converting 2025 Convertible Notes with the
terms of any legend affixed on the Holder certificates, or with the relevant securities laws or regulations, including, without limitation, Regulation S under the U.S. Securities Act, and the Trustee shall be entitled to assume that all transfers
and conversions of 2025 Convertible Notes are legal and proper. 
 ARTICLE 4 

ADJUSTMENT OF NUMBER OF COMMON SHARES AND CONVERSION PRICE 
  

	Section 4.1	 Adjustment of Number of Common Shares and Conversion Price. 

The conversion rights in effect under the 2025 Convertible Notes for Common Shares issuable upon the conversion of the 2025 Convertible Notes
shall be subject to adjustment from time to time as follows: 
  

	 	(a)	 if, at any time prior to the 2025 Convertible Note Maturity Date, the Issuer shall: 

 

	 	(i)	 subdivide, re-divide or change its outstanding Common Shares into a
greater number of Common Shares; 

  
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	 	(ii)	 reduce, combine or consolidate its outstanding Common Shares into a smaller number of Common Shares; or

  

	 	(iii)	 issue Common Shares or securities exchangeable for, or convertible into, Common Shares to all or substantially
all of the holders of Common Shares by way of distribution (other than a distribution of Common Shares upon the conversion of 2025 Convertible Notes); 

the Conversion Price in effect on the effective date of such subdivision, re-division, change,
reduction, combination, consolidation or on the record date of such distribution, as the case may be, shall in the case of the events referred to in (i) or (iii) above be decreased in proportion to the number of outstanding Common Shares
resulting from such subdivision, re-division, change or distribution, or shall, in the case of the events referred to in (ii) above, be increased in proportion to the number of outstanding Common Shares
resulting from such reduction, combination or consolidation. Such adjustment shall be made successively whenever any event referred to in this Section 4.1 shall occur. Upon any adjustment of the Conversion Price pursuant to Section 4.1,
the Conversion Price shall be contemporaneously adjusted by multiplying the number of Common Shares theretofore obtainable on the exercise thereof by a fraction of which the numerator shall be the Conversion Price in effect immediately prior to such
adjustment and the denominator shall be the Conversion Price resulting from such adjustment; 
  

	 	(b)	 if and whenever at any time prior to the 2025 Convertible Notes Maturity Date, the Issuer shall fix a record
date for the issuance of rights, options or warrants to all or substantially all the holders of its outstanding Common Shares entitling them, for a period expiring not more than 45 days after such record date, to subscribe for or purchase Common
Shares (or securities convertible or exchangeable into Common Shares) at a price per Common Share (or having a conversion or exchange price per Common Share) less than 95% of the weighted average of the trading price per Common Share for each day
there was a closing price for 20 consecutive trading days ending five Business Days prior to such date on any Exchange (the “Common Share Current Market Price”) on such record date (a “Common Share Rights
Offering”), the Conversion Price shall be adjusted immediately after such record date so that it shall equal the amount determined by multiplying the Conversion Price in effect on such record date by a fraction, of which the numerator shall
be the total number of Common Shares outstanding on such record date plus a number of Common Shares equal to the number arrived at by dividing the aggregate price of the total number of additional Common Shares offered for subscription or purchase
(or the aggregate conversion or exchange price of the convertible or exchangeable securities so offered) by such Common Share Current Market Price, and of which the denominator shall be the total number of Common Shares outstanding on such record
date plus the total number of additional Common Shares offered for subscription or purchase or into which the convertible or exchangeable securities so offered are convertible or exchangeable; any Common Shares owned by or held for the account of
the Issuer shall be deemed not to be outstanding for the purpose of any such computation; such adjustment shall be made successively whenever such a record date is fixed; to the extent that no such rights or warrants are exercised prior to the
expiration thereof, the Conversion Price shall be readjusted to the Conversion Price which would then be in effect if such record date had not been fixed or, if any such rights or warrants are exercised, to the Conversion Price which would then be
in effect based upon the number of Common Shares (or securities 

  
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convertible or exchangeable into Common Shares) actually issued upon the exercise of such rights or warrants, as the case may be. Upon any adjustment of the Conversion Price pursuant to this
Section 4.1(b), the Conversion Price will be adjusted immediately after such record date so that it will equal the rate determined by multiplying the Conversion Price in effect on such record date by a fraction, of which the numerator shall be
the Conversion Price in effect immediately prior to such adjustment and the denominator shall be the Conversion Price resulting from such adjustment. Such adjustment will be made successively whenever such a record date is fixed, provided that if
two or more such record dates or record dates referred to in this Section 4.1(b) are fixed within a period of 25 trading days, such adjustment will be made successively as if each of such record dates occurred on the earliest of such record
dates; 

  

	 	(c)	 if and whenever at any time prior to the 2025 Convertible Notes Maturity Date the Issuer shall fix a record
date for the making of a distribution to all or substantially all the holders of its outstanding Common Shares of (i) securities of any class, whether of the Issuer or any other entity (other than Common Shares), (ii) rights, options or
warrants to subscribe for or purchase Common Shares (or other securities convertible into or exchangeable for Common Shares), other than pursuant to a Common Share Rights Offering; (iii) evidences of its indebtedness or (iv) any property
or other assets then, in each such case, the Conversion Price shall be adjusted immediately after such record date so that it shall equal the price determined by multiplying the Conversion Price in effect on such record date by a fraction, of which
the numerator shall be the total number of Common Shares outstanding on such record date multiplied by the Common Share Current Market Price on such record date, less the excess, if any, of the fair market value on such record date, as determined by
the Issuer (whose determination shall be conclusive), of such securities or other assets so issued or distributed over the fair market value of any consideration received therefor by the Issuer from the holders of the Common Shares, and of which the
denominator shall be the total number of Common Shares outstanding on such record date multiplied by such Common Share Current Market Price; and Common Shares owned by or held for the account of the Issuer shall be deemed not to be outstanding for
the purpose of any such computation; such adjustment shall be made successively whenever such a record date is fixed; to the extent that such distribution is not so made, the Conversion Price shall be readjusted to the Conversion Price which would
then be in effect if such record date had not been fixed. Upon any adjustment of the Conversion Price pursuant to this Section 4.1(c), the Conversion Price will be adjusted immediately after such record date so that it will equal the rate
determined by multiplying the Conversion Price in effect on such record date by a fraction, of which the numerator shall be the Conversion Price in effect immediately prior to such adjustment and the denominator shall be the Conversion Price
resulting from such adjustment; 

  

	 	(d)	 if and whenever at any time prior to the 2025 Convertible Notes Maturity Date, there is a reclassification of
the Common Shares or a capital reorganization of the Issuer other than as described in Section 4.1(c) or a consolidation, amalgamation, arrangement or merger of the Issuer with or into any other body corporate, trust, partnership or other
entity, or a sale or conveyance of the property and assets of the Issuer as an entirety or substantially as an entirety to any other body corporate, trust, partnership or other entity, any Registered Holder who has not exercised its right of
acquisition prior to the effective date of such reclassification, capital reorganization, consolidation, amalgamation, arrangement or merger, sale or conveyance, upon the exercise of such right thereafter, shall be entitled to receive and shall
accept, in lieu of the number of Common Shares that prior to such effective date the Registered Holder would have been entitled to receive, the number of shares or other securities or property of the Issuer or of the body corporate, trust,
partnership or other entity resulting from such merger, amalgamation or consolidation, or to which such sale or conveyance may be made, as the case may be, that such Registered Holder would have been

  
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entitled to receive on such reclassification, capital reorganization, consolidation, amalgamation, arrangement or merger, sale or conveyance, if, on the effective date thereof, as the case may
be, the Registered Holder had been the registered holder of the number of Common Shares to which prior to such effective date it was entitled to acquire upon the conversion of the 2025 Convertible Notes. If determined appropriate by the Trustee,
relying on advice of counsel to the Trustee or Issuer, to give effect to or to evidence the provisions of this Section 4.1(d), the Issuer, its successor, or such purchasing body corporate, partnership, trust or other entity, as the case may be,
shall, prior to or contemporaneously with any such reclassification, capital reorganization, consolidation, amalgamation, arrangement, merger, sale or conveyance, enter into an indenture which shall provide, to the extent possible, for the
application of the provisions set forth in this Second Supplemental Indenture with respect to the rights and interests thereafter of the Registered Holder to the end that the provisions set forth in this Second Supplemental Indenture shall
thereafter correspondingly be made applicable, as nearly as may reasonably be, with respect to any shares, other securities or property to which a Registered Holder is entitled on the exercise of its acquisition rights thereafter. Any indenture
entered into between the Issuer, any successor to the Issuer or such purchasing body corporate, partnership, trust or other entity and the Trustee shall provide for adjustments which shall be as nearly equivalent as may be practicable to the
adjustments provided in this Section 4.1(d) and which shall apply to successive reclassifications, capital reorganizations, amalgamations, consolidations, mergers, sales or conveyances; 

 

	 	(e)	 in any case in which this Section 4.1(e) shall require that an adjustment shall become effective
immediately after a record date for an event referred to herein, the Issuer may defer, until the occurrence of such event, issuing to the Registered Holder of any 2025 Convertible Note converted after such event the additional Common Shares issuable
upon such conversion by reason of the adjustment required by such event before giving effect to such adjustment; provided, however, that the Issuer shall deliver to such Registered Holder an appropriate instrument evidencing such Registered
Holder’s right to receive such additional Common Shares upon the occurrence of the event requiring such adjustment and the right to receive any distributions made on such additional Common Shares declared in favour of holders of record of
Common Shares on and after the relevant date of conversion or such later date as such Registered Holder would, but for the provisions of this Section 4.1(e), have become the holder of record of such additional Common Shares pursuant to
Section 4.1; 

  

	 	(f)	 in any case in which Section 4.1(a)(iii), Section 4.1(b) or Section 4.1(c), require that an
adjustment be made to the Conversion Price, no such adjustment shall be made if the Registered Holders of the outstanding 2025 Convertible Notes receive, subject to the approval of the Exchanges if required, the rights or warrants referred to in
Section 4.1(a)(iii), Section 4.1(b) or the shares, rights, options, warrants, evidences of indebtedness or assets referred to in Section 4.1(c), as the case may be, in such kind and number as they would have received if they had been
holders of Common Shares on the applicable record date or effective date, as the case may be, by virtue of their outstanding 2025 Convertible Note having then been converted into Common Shares at the Conversion Price in effect on the applicable
record date or effective date, as the case may be; 

  

	 	(g)	 the adjustments provided for in this Section 4.1 are cumulative, and shall, in the case of adjustments to
the Conversion Price be computed to the nearest whole cent and shall apply to successive subdivisions, re-divisions, reductions, combinations, consolidations, distributions, issues or other events resulting in
any adjustment under the provisions of this Section 4.1, provided that, notwithstanding any other provision of this Section 4.1, no adjustment of the Conversion Price shall be required unless such adjustment would require an increase or
decrease of at least 1% in the Conversion Price then in effect; provided, however, that any adjustments which by reason of this Section 4.1(g) are not required to be made shall be carried forward and taken into account in any subsequent
adjustment; and 

  
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	 	(h)	 after any adjustment pursuant to this Section 4.1, the term “Common Shares” where used in this
Second Supplemental Indenture shall be interpreted to mean securities of any class or classes which, as a result of such adjustment and all prior adjustments pursuant to this Section 4.1, the Registered Holder is entitled to receive upon the
conversion of its 2025 Convertible Notes, and the number of Common Shares indicated by any conversion made pursuant to a 2025 Convertible Note shall be interpreted to mean the number of Common Shares or other property or securities a Registered
Holder is entitled to receive, as a result of such adjustment and all prior adjustments pursuant to this Section 4.1, upon the full or partial conversion of a 2025 Convertible Note. 

 

	Section 4.2	 Entitlement to Common Shares on Conversion of 2025 Convertible Notes. 

All Common Shares or shares of any class or other securities, which a Registered Holder is at the time in question entitled to receive on the
conversion of its 2025 Convertible Note, whether or not as a result of adjustments made pursuant to this Article 4, shall, for the purposes of the interpretation of this Second Supplemental Indenture, be deemed to be Common Shares which such
Registered Holder is entitled to acquire pursuant to such 2025 Convertible Note. 
  

	Section 4.3	 No Adjustment for Certain Transactions. 

Notwithstanding anything in this Article 4, no adjustment shall be made in the acquisition rights attached to the 2025 Convertible Notes if the
issue of Common Shares (or Common Shares) is being made pursuant to this Second Supplemental Indenture or in connection with (a) any share incentive plan or restricted share plan or share purchase plan in force from time to time for directors,
officers, employees, consultants or other service providers of the Issuer; or (b) the satisfaction of existing instruments issued at the date hereof. 
  

	Section 4.4	 Determination by Auditors. 

In the event of any question arising with respect to the adjustments provided for in this Article 4 such question shall be conclusively
determined by an independent firm of chartered accountants other than the auditors of the Issuer, who shall have access to all necessary records of the Issuer, and such determination shall be binding upon the Issuer, the Trustee, all holders and all
other persons interested therein. 
  

	Section 4.5	 Proceedings Prior to any Action Requiring Adjustment. 

As a condition precedent to the taking of any action which would require an adjustment in any of the acquisition rights pursuant to any of the
2025 Convertible Notes, including the number of Common Shares which are to be received upon the conversion thereof, the Issuer shall take any action which may, in the opinion of counsel to the Trustee or Issuer, be necessary in order that the Issuer
has unissued and reserved in its authorized capital and may validly and legally issue as fully paid and non-assessable all the Common Shares which the holders of such 2025 Convertible Notes are entitled to
receive on the conversion thereof in accordance with the provisions hereof. 
  

	Section 4.6	 Certificate of Adjustment. 

The Issuer shall from time to time immediately after the occurrence of any event which requires an adjustment or readjustment as provided in
this Article 4, deliver a certificate of the Issuer to the Trustee specifying the nature of the event requiring the same and the amount of the adjustment or readjustment necessitated thereby and setting forth in reasonable detail the method of
calculation and the facts upon which such calculation is based, which certificate shall be supported by a certificate of the Issuer’s auditors verifying such calculation. The Trustee shall rely, and shall be protected in so doing, upon the
certificate of the Issuer or of the Issuer’s auditor and any other document filed by the Issuer pursuant to this Article 4 for all purposes. 

  
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	Section 4.7	 Notice of Special Matters. 

The Issuer covenants with the Trustee that, so long as any 2025 Convertible Notes remain outstanding, it will give notice to the Trustee and to
the Registered Holder of its intention to fix a record date that is prior to the 2025 Convertible Notes Maturity Date for any matter for which an adjustment may be required pursuant to Section 4.1. Such notice shall specify the particulars of
such event and the record date for such event, provided that the Issuer shall only be required to specify in the notice such particulars of the event as shall have been fixed and determined on the date on which the notice is given. The notice shall
be given in each case not less than 14 days prior to such applicable record date. If notice has been given and the adjustment is not then determinable, the Issuer shall promptly, after the adjustment is determinable, file with the Trustee a
computation of the adjustment and give notice to the Registered Holders of such adjustment computation. 
  

	Section 4.8	 Protection of Trustee. 

The Trustee shall not: 
  

	 	(a)	 at any time be under any duty or responsibility to any Registered Holder to determine whether any facts exist
which may require any adjustment contemplated by Section 4.1, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed in making the same; 

 

	 	(b)	 be accountable with respect to the validity or value (or the kind or amount) of any Common Shares or of any
other securities or property which may at any time be issued or delivered upon the exercise of the rights attaching to any 2025 Convertible Note; and 

  

	 	(c)	 incur any liability or be in any way responsible for the consequences of any breach on the part of the Issuer
of any of the representations, warranties or covenants herein contained or of any acts of the directors, officers, employees, agents or servants of the Issuer. 

 

	Section 4.9	 Other Adjustments. 

If the Issuer after the date hereof shall take any action affecting the Common Shares, other than an action described in this Article 4 which,
in the opinion of the directors of the Issuer, would have a material adverse effect on the rights of Registered Holders, or the Conversion Price, there shall be an adjustment in such manner, if any, and at such time, by action of the directors,
acting reasonably and in good faith, as they may reasonably determine to be equitable to the Registered Holders in such circumstances, provided that no such adjustment will be made unless prior approval of any stock exchange on which the Common
Shares are listed for trading, if any, has been obtained. 
  

	Section 4.10	 Participation by Holder. 

No adjustments shall be made pursuant to this Article 4 if the Registered Holder are entitled to participate in any event described in this
Article 4 on the same terms, mutatis mutandis, as if the Registered Holder had converted their 2025 Convertible Notes prior to, or on the effective date or record date of, such event. 

  
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 ARTICLE 5 

MISCELLANEOUS 
  

	Section 5.1	 Acceptance of Trust. 

The Trustee accepts the trusts in this Second Supplemental Indenture and agrees to carry out and discharge the same upon the terms and
conditions set out in this Second Supplemental Indenture and in accordance with the Indenture. 
  

	Section 5.2	 Confirmation of Indenture. 

The Indenture as amended and supplemented by this Second Supplemental Indenture is in all respects confirmed and for greater certainty the
Issuer acknowledges and confirms that the Security Documents granted by it pursuant to the Indenture secure the due payment of all principal, interest and other amounts outstanding under the 2025 Convertible Notes. 

 

	Section 5.3	 Effective Date 

This Second Supplemental Indenture shall take effect upon the date first above written. 

 

	Section 5.4	 Counterparts. 

This Second Supplemental Indenture may be executed in one or more counterparts, each of which taken together shall constitute one and the same
instrument. Counterparts may be executed either in original or electronic form and the parties hereto adopt any signatures received by electronic means as original signatures of the parties. 

 

	Section 5.5	 Fax/Email. 

The Trustee shall be entitled to treat a facsimile, pdf or e-mail communication or communication by
other similar electronic means in a form satisfactory to the Trustee (“Electronic Methods”) from a person purporting to be (and whom such Trustee, acting reasonably, believes in good faith to be) the authorized
representative of the Issuer, as sufficient instructions and authority of the Issuer for the Trustee to act and shall have no duty to verify or confirm that person is so authorized. The Issuer acknowledges that it is fully informed of the
protections and risks associated with the various methods of transmitting instructions to the Trustee and that there may be more secure methods of transmitting instructions than Electronic Methods. 

 

	Section 5.6	 Force Majeure. 

The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder by reason
of any occurrence beyond the control of the Trustee (including but not limited to any act or provision of any present or future law or regulation or Governmental Authority, any act of God or war, civil unrest, pandemic, local or national disturbance
or disaster, any act of terrorism, cyber terrorism, loss or malfunctions of utilities, computer (hardware or software) or communication services or the unavailability of any wire or facsimile or other wire or communication facility). 

 

	Section 5.7	 Trial by Jury. 

The parties hereto hereby waive any right they may have to require a trial by jury of any proceeding commenced in connection herewith. 

[Signature Page Follows] 

  
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 IN WITNESS OF WHICH this Second Supplemental Indenture has been duly executed by the Issuer and the
Trustee. 
 Dated as of the date first written above. 
  

			
	COLUMBIA CARE INC.
		
	 Per:
	 	 (signed) “Nicholas Vita”

		 	 Nicholas Vita

		 	 Chief Executive Officer

	
	ODYSSEY TRUST COMPANY
		
	 Per:
	 	 (signed) “Dan Sander”

		 	 Dan Sander

		 	 VP, Corporate Trust

		
	 Per:
	 	 (signed) “Amy Douglas”

		 	 Amy Douglas

		 	 Director, Corporate Trust

 [Signature Page for Indenture] 

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 Schedule “A” 

FORM OF NOTE CERTIFICATE 
 [UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE [INSERT THE DATE THAT IS 4 MONTHS AND A DAY AFTER THE DISTRIBUTION DATE]]. 

[THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREIN REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. THIS
NOTE MAY NOT BE TRANSFERRED TO OR EXCHANGED FOR NOTES REGISTERED IN THE NAME OF ANY PERSON OTHER THAN THE DEPOSITORY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY
NOTE AUTHENTICATED AND DELIVERED UPON REGISTRATION OF, TRANSFER OF, OR IN EXCHANGE FOR, OR IN LIEU OF, THIS NOTE SHALL BE A GLOBAL NOTE SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF CDS CLEARING AND DEPOSITORY SERVICES INC. (“CDS”) TO COLUMBIA CARE INC.
OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IN RESPECT THEREOF IS REGISTERED IN THE NAME OF CDS & CO., OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CDS (AND ANY
PAYMENT IS MADE TO CDS & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CDS), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED HOLDER
HEREOF, CDS & CO., HAS A PROPERTY INTEREST IN THE SECURITIES REPRESENTED BY THIS CERTIFICATE HEREIN AND IT IS A VIOLATION OF ITS RIGHTS FOR ANOTHER PERSON TO HOLD, TRANSFER OR DEAL WITH THIS CERTIFICATE.]1 
 [THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY ACQUIRING THESE SECURITIES, AGREES FOR THE BENEFIT OF COLUMBIA CARE INC. (THE “CORPORATION”), THAT
SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY, ONLY (A) TO THE CORPORATION, (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT AND IN
COMPLIANCE WITH APPLICABLE CANADIAN LOCAL LAWS AND REGULATIONS, (C) IN COMPLIANCE WITH (1) RULE 144A UNDER THE U.S. SECURITIES ACT, IF APPLICABLE, OR (2) RULE 144 UNDER THE U.S. SECURITIES ACT, IF APPLICABLE, AND, IN EACH CASE, IN
COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS, OR (D) IN ANOTHER TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, PROVIDED THAT IN THE CASE OF TRANSFERS PURSUANT TO (C)(2)
OR (D) ABOVE, A LEGAL OPINION FROM COUNSEL OF RECOGNIZED STANDING IN FORM AND SUBSTANCE SATISFACTORY TO THE CORPORATION MUST FIRST BE PROVIDED TO ODYSSEY TRUST COMPANY AND TO THE ISSUER TO THE EFFECT THAT SUCH TRANSFER IS EXEMPT FROM
REGISTRATION UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. DELIVERY OF THIS CERTIFICATE MAY NOT CONSTITUTE “GOOD DELIVERY” IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN CANADA.]2 
  

	1 	 NTD: Include legend on Global Note 

	2 	 NTD: Include for US Subscribers. 

  

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		  	CUSIP ●
		  	  
 ISIN ●

	No. ●	  	  
 US$●

 COLUMBIA CARE INC. 

(a corporation formed under the laws of the Business Corporations Act (British Columbia)) 

6.00% Senior Secured 2025 Convertible Note 

Due June 29, 2025 
 COLUMBIA CARE INC. (the
“Issuer”) for value received hereby acknowledges itself indebted and, subject to the provisions of the trust indenture dated as of May 14, 2020 (the “Master Trust Indenture”), as supplemented by the second
supplemental indenture dated as of June 29, 2021 (the “Second Supplemental Indenture” and collectively with the Master Trust Indenture, the “Indenture”), between the Issuer and Odyssey Trust Company (the
“Trustee”), promises to pay to
                                         
    on June 29, 2025 (the “Maturity Date”) or on such earlier date as the principal amount hereof may become due in accordance with the provisions of the Indenture, the principal sum of ● Dollars
(US$●) in lawful money of the United States of America on presentation and surrender of this 2025 Convertible Note at the main branch of the Trustee in Vancouver, British Columbia in accordance with the terms of the Indenture and, subject as
hereinafter provided, to pay interest on the principal amount hereof from the date hereof, at the rate of 6.00% per annum (based on a year of 365 days), in like money, in arrears in equal installments on the six month anniversary of the Issue Date
and the Maturity Date, and, should the Issuer at any time make default in the payment of any principal, or interest, to pay interest on the amount in default at the same rate, in like money and on the same date. 

Interest on this 2025 Convertible Note will be computed on the basis of a 365-day or
366-day year, as applicable, and will be payable in equal semi-annual amounts; provided that for any Interest Period that is shorter than a full semi-annual interest period, interest shall be calculated on the
basis of a year of 365 days or 366 days, as applicable, and the actual number of days elapsed in that period. 
 If the date for payment of any amount of
principal, premium or interest is not a Business Day at the place of payment, then payment will be made on the next Business Day and the holder hereof will not be entitled to any further interest on such principal, or to any interest on such
interest, premium or other amount so payable, in respect of the period from the date for payment to such next Business Day. 
 Interest hereon shall be
payable by cheque mailed by prepaid ordinary mail or by electronic transfer of funds to the registered holder hereof and, subject to the provisions of this Indenture, the mailing of such cheque or the electronic transfer of such funds shall, to the
extent of the sum represented thereby (plus the amount of any Taxes deducted or withheld), satisfy and discharge all liability for interest on this 2025 Convertible Note. 

This Note is one of the 6.00% Senior Secured 2025 Convertible Notes (referred to herein as the “2025 Convertible Notes”) of the Issuer issued
under the provisions of the Indenture. The 2025 Convertible Notes authorized for issue immediately are limited to an aggregate principal amount of US$● in lawful money of the United States. Reference is hereby expressly made to the Indenture
for a description of the terms and conditions upon which the 2025 Convertible Notes are or are to be issued and held and the rights and remedies of the holders of the 2025 Convertible Notes and of the Issuer and of the Trustee, all to the same
effect as if the provisions of the Indenture were herein set forth to all of which provisions the holder of this Note by acceptance hereof assents. 

  

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 The 2025 Convertible Notes are issuable at a price of US$1,000 per US$1,000 of principal amount and only in
denominations of US$1,000 and integral multiples of US$1,000. Upon compliance with the provisions of the Indenture, 2025 Convertible Notes of any denomination may be exchanged for an equal aggregate principal amount of 2025 Convertible Notes in any
other authorized denomination or denominations. 
 Any part, being US$1,000 or an integral multiple thereof, of the principal of this 2025 Convertible Note,
provided that the principal amount of this 2025 Convertible Note is in a denomination in excess of US$1,000, is convertible, at the option of the holder hereof, upon surrender of this 2025 Convertible Note at the principal office of the Trustee in
Vancouver, British Columbia, at any time prior to the close of business on the date which falls 10 days prior to the Maturity Date, into Common Shares (without adjustment for interest accrued hereon or for dividends or distributions on Common Shares
issuable upon conversion) at a conversion price per Common Share equal to US$6.49 payable on the Business Day prior to the date of conversion (the “Conversion Price”), adjusted downwards for any cash dividends paid to holders of the
common shares of the Issuer (the “Common Shares”), all subject to the terms and conditions and in the manner set forth herein. 
 The
Indenture makes provision for the adjustment of the Conversion Price in the events therein specified. No fractional Common Shares will be issued on any conversion and holders will receive a cash payment in satisfaction of any fractional interest.

 Upon the occurrence of a Change of Control of the Issuer, the Issuer is required to make an offer, at the option of each Holder, to purchase all of the
2025 Convertible Notes at a cash price equal to 101% principal amount of such 2025 Convertible Notes in accordance with the terms of the Indenture. 
 The
indebtedness evidenced by this 2025 Convertible Note, and by all other 2025 Convertible Notes now or hereafter certified and delivered under the Indenture, is a direct secured obligation of the Issuer. 

The principal hereof may become or be declared due and payable before the stated maturity in the events, in the manner, with the effect and at the times
provided in the Indenture. 
 The 2025 Convertible Notes and Common Shares issuable upon conversion hereof have not and will not be registered under the
United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States. The 2025 Convertible Notes and the Common Shares may only be offered, sold, pledged or otherwise
transferred to (i) the Issuer, or (ii) outside the United States to a person who is not a “U.S. person” (as defined by Regulation S under the U.S. Securities Act) in accordance with an applicable exemption under the U.S.
Securities Act and applicable local securities laws and regulations. 
 The Indenture contains provisions making binding upon all holders of 2025
Convertible Notes outstanding thereunder resolutions passed at meetings of such holders held in accordance with such provisions and instruments signed by the holders of a specified majority of 2025 Convertible Notes outstanding, which resolutions or
instruments may have the effect of amending the terms of this 2025 Convertible Note or the Indenture. 
 The Indenture contains provisions disclaiming any
personal liability on the part of holders of Common Shares, officers, directors and employees of the Issuer in respect of any obligation or claim arising out of the Indenture or this 2025 Convertible Note. 

This 2025 Convertible Note may only be transferred, upon compliance with the conditions prescribed in the Indenture, in one of the registers to be kept at the
principal office of the Trustee in the City of Vancouver and in such other place or places and/or by such other registrars (if any) as the Issuer with the approval of the Trustee may designate. No transfer of this 2025 Convertible Note shall be
valid unless made on the register by the registered holder hereof or his executors or administrators or other legal representatives, or his or their attorney duly appointed by an instrument in form and substance satisfactory to the Trustee or other
registrar, 

  

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and upon compliance with such reasonable requirements as the Trustee or other registrar may prescribe and upon surrender of this 2025 Convertible Note for cancellation. Thereupon a new 2025
Convertible Note or 2025 Convertible Notes in the same aggregate principal amount shall be issued to the transferee in exchange hereof. 
 This 2025
Convertible Note shall not become obligatory for any purpose until it shall have been certified by the Trustee under the Indenture. 
 Capitalized words or
expressions used in this 2025 Convertible Note shall, unless otherwise defined herein, have the meaning ascribed thereto in the Indenture. 

[Reminder of this page intentionally left blank.] 

  

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 IN WITNESS WHEREOF COLUMBIA CARE INC. has caused this 2025 Convertible Note to be signed by its
authorized representatives as of the 29th day of June, 2021. 
  

			
	 COLUMBIA CARE INC.

		
	 By:
	 	  

		 	 Authorized Signatory

 This 2025 Convertible Note is one of the 6.00% Senior Secured 2025 Convertible Note due June 29, 2025 referred to
in the Indenture within mentioned. 
  

			
	 ODYSSEY TRUST COMPANY

		
	 By:
	 	  

		 	Authorized Signatory

			
		
	 Date:
	 	  

 [Signature Page for Note Certificate] 

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 FORM OF TRANSFER 

ODYSSEY TRUST COMPANY FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers to 

					
	  
	  			

 (print name and address) the 2025 Convertible Notes represented by this 2025 Convertible Note Certificate and hereby
irrevocable constitutes and appoints                      as its attorney with full power of substitution to transfer the said securities on
the appropriate register of the Trustee. 
 DATED this day          of
            , 20 . 
 In the case of a 2025 Convertible Note Certificate bearing the
restrictive U.S. legend described in Section 3.3(b) of the Indenture, the undersigned hereby represents, warrants and certifies that (one (only) of the following must be checked): 

☐ the transfer is being made to the Issuer; or 

☐ the transfer is being made outside the United States to a person who is not a “U.S. person” (as defined by Regulation S
under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)) in accordance with an applicable exemption under the U.S. Securities Act and applicable local securities laws and regulations.

  

							
	SPACE FOR GUARANTEES OF	 	)	  		  	
	SIGNATURES (BELOW)	 		  		  	
	 	)	  		  	  

		 		  		  	Signature of Transferor
		 	)	  		  	
	  
	 	  
 )
	  		  	  

	Guarantor’s Signature/Stamp	 		  		  	Name of Transferor
		 	)	  		  	
		 	  
 )
	  		  	

 CERTAIN REQUIREMENTS RELATING TO TRANSFERS – READ CAREFULLY 

The signature(s) of the transferor(s) must correspond with the name(s) as written upon the face of this certificate(s), in every particular, without
alteration or enlargement, or any change whatsoever. The signature(s) on this form must be guaranteed in accordance with the transfer agent’s then current guidelines and requirements at the time of transfer. Notarized or witnessed signatures
are not acceptable as guaranteed signatures. As at the time of closing, you may choose one of the following methods (although subject to change in accordance with industry practice and standards): 

 

	 	•	 	 Canada and the USA: A Medallion Signature Guarantee obtained from a member of an acceptable Medallion
Signature Guarantee Program (STAMP, SEMP, NYSE MSP). Many commercial banks, savings banks, credit unions, and all broker dealers participate in a Medallion Signature Guarantee Program. The Guarantor must affix a stamp bearing the actual words
“Medallion Guaranteed”, with the correct prefix covering the face value of the certificate. 

  

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	 	•	 	 Canada: A Signature Guarantee obtained from the Guarantor must affix a stamp bearing the actual words
“Signature Guaranteed”. Signature Guarantees are not accepted from Treasury Branches, Credit Unions or Caisse Populaires unless they are members of a Medallion Signature Guarantee Program. For corporate holders, corporate signing
resolutions, including certificate of incumbency, are also required to accompany the transfer, unless there is a “Signature & Authority to Sign Guarantee” Stamp affixed to the transfer (as opposed to a
“Signature Guarantee” Stamp) obtained from an authorized officer of a major Canadian Schedule 1 chartered bank. 

  

	 	•	 	 Outside North America: For holders located outside North America, present the certificates(s) and/or
document(s) that require a guarantee to a local financial institution that has a corresponding Canadian or American affiliate which is a member of an acceptable Medallion Signature Guarantee Program. The corresponding affiliate will arrange for the
signature to be over-guaranteed. 

  

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 APPENDIX “1” 

TO CDS GLOBAL 2025 CONVERTIBLE NOTE 

COLUMBIA CARE INC. 

6.00% SENIOR SECURED CONVERTIBLE NOTES 

DUE JUNE 29, 2025 
  

					
	 Initial Principal Amount: US$●
	 		 	
			
	 Authorization:
	 		 	
                   
                 

 ADJUSTMENTS 
  

											
	Date	  	
Amount of

Increase
	  	 Amount of

Decrease
	  	New Principal
Amount	  	Authorization	 	 
	 	  	 	  	 	  	 	  	 	 	
	 	  	 	  	 	  	 	  	                  
              	 	
	 	  	 	  	 	  	 	  	 	 	
	 	  	 	  	 	  	 	  	 	 	
	 	  	 	  	 	  	 	  	 	 	
	 	  	 	  	 	  	 	  	 	 	 
	 	  	 	  	 	  	 	  	 	 	
	 	  	 	  	 	  	 	  	 	 	
	 	  	 	  	 	  	 	  	 	 	
	 	  	 	  	 	  	 	  	 	 	
	 	  	 	  	 	  	 	  	 	 	
	 	  	 	  	 	  	 	  	 	 	

  

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 Schedule “B” 

FORM OF NOTICE OF CONVERSION 

CONVERSION NOTICE 
  

	To:	 COLUMBIA CARE INC. 

  

	Note:	 All capitalized terms used herein have the meaning ascribed thereto in the Indenture mentioned below, unless
otherwise indicated. 

 The undersigned registered holder of 6.00% Secured 2025 Convertible Notes irrevocably elects to convert such 2025
Convertible Notes (or US$● principal amount thereof*) in accordance with the terms of the Indenture referred to in such 2025 Convertible Notes and tenders herewith the 2025 Convertible Notes and directs that the Common Shares of Columbia Care
Inc. issuable upon a conversion be issued and delivered to the person indicated below. (If Common Shares are to be issued 
 in the name of a person other
than the holder, all requisite transfer taxes must be tendered by the undersigned). 
  

					
	  
	 		  	  

	 Dated:
	 		  	 (Signature of Registered Holder)

 * If less than the full principal amount of the 2025 Convertible Notes, indicate in the space provided the principal amount
(which must be US$1,000 or integral multiples thereof). 
 NOTE: If Common Shares are to be issued in the name of a person other than the holder, the
signature must be guaranteed by a chartered bank, a trust company or by a member of an acceptable Medallion Guarantee Program. The Guarantor must affix a stamp bearing the actual words: “SIGNATURE GUARANTEED”. 

(Print name in which Common Shares are to be issued, delivered and registered) 
  

			
	 Name:
	 	
		 	  

		
	 Address:
	 	
		 	  

		
	 City, Province and Postal Code
	 	
		 	  

		
	 Name of Guarantor:
	 	
		 	  

		
	 Authorized Signature:
	 	
		 	  

  

“B” - 1

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