Document:

EX-10.6

 Exhibit 10.6 

FORWARD PURCHASE AGREEMENT 

This Forward Purchase Agreement (this “Agreement”) is entered into as of May 28, 2021, by and between Post
Holdings Partnering Corporation, a Delaware corporation (the “Company”), and PHPC Sponsor, LLC, a Delaware limited liability company (the “Purchaser”). 

Recitals 
 WHEREAS,
the Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar partnering transaction with one or more businesses (a “Partnering Transaction”);

 WHEREAS, the Company has filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration
statement on Form S-1 (the “Registration Statement”) for its initial public offering (“IPO”) of 30,000,000 units (or 34,500,000 units if the underwriters’
over-allotment option (the “IPO Option”) is exercised in full) (the “Public Units”) at a price of $10.00 per Public Unit, each Public Unit comprised of one share of the Company’s Series A common
stock, par value $0.0001 per share (the “Series A Shares,” and the Series A Shares included in the Public Units, the “Public Shares”), and a fraction of one redeemable warrant, where each whole
redeemable warrant is exercisable to purchase one Series A Share at an exercise price of $11.50 per share (the “Warrants,” and the Warrants included in the Public Units the “Public Warrants”); 

WHEREAS, the Purchaser, who is the Company’s sponsor, has agreed to purchase units of the Company in a private placement that will close
contemporaneously with the closing of the IPO (the “Private Placement Units”); 
 WHEREAS, following the closing of
the IPO (the “IPO Closing”), the Company will seek to identify and consummate a Partnering Transaction; 
 WHEREAS,
the parties wish to enter into this Agreement, pursuant to which concurrently with the closing of the Company’s initial Partnering Transaction (the “Partnering Transaction Closing”), the Company shall issue and sell to
the Purchaser, and the Purchaser shall purchase from the Company, on a private placement basis, the number of units (the “Forward Purchase Units”) determined pursuant to Sections 1(a)(ii), (iii) and (iv) hereof, each
comprised of one share of the Company’s Series B common stock, par value $0.0001 per share (the “Series B Shares” (each, a “Forward Purchase Share”), and
one-third of one redeemable warrant, where each whole redeemable warrant is exercisable to purchase one Series A Share at an exercise price of $11.50 per share, subject to adjustment (each, a
“Forward Purchase Warrant”), on the terms and conditions set forth herein (the Forward Purchase Units, the Forward Purchase Shares, the Forward Purchase Warrants underlying the Forward Purchase Units and the Series A Shares
underlying the Forward Purchase Warrants, the “Forward Purchase Securities”); 
 WHEREAS, proceeds from the IPO and
the sale of the Private Placement Units in an aggregate amount equal to the gross proceeds from the IPO will be deposited into a trust account for the benefit of the holders of the Public Shares (the “Trust Account”), as
described in the Registration Statement; and 
 WHEREAS, the amounts available to the Company from the Trust Account (after giving effect to
any redemptions of Public Shares) and any other equity or debt financing obtained by the Company in connection with the Partnering Transaction (the “Available Cash”), together with the proceeds from the sale of the Forward
Purchase Units, will be used to satisfy the cash requirements of the Partnering Transaction, including funding the purchase price and paying expenses and retaining amounts specified in the definitive agreement for the Partnering Transaction (the
“Definitive Agreement”) to be retained for use by the post-Partnering Transaction company for working capital or other purposes (the “Cash Requirements”); 

 NOW, THEREFORE, in consideration of the premises, representations, warranties and the mutual
covenants contained in this Agreement, and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

Agreement 

1. Sale and Purchase. 

(a) Forward Purchase Units. 

(i) Subject to Sections 1(a)(ii), (iii) and (iv), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from
the Company, up to a maximum of 10,000,000 Forward Purchase Units (the “Maximum Units”) for a purchase price of $10.00 per Forward Purchase Unit (the “Forward Purchase Price”), or up to a maximum of
$100,000,000 in the aggregate. Each Forward Purchase Warrant and its underlying Series A Share will have the same terms as the Warrants and their underlying Series A Shares to be issued in the IPO. Each Forward Purchase Warrant will be subject to
the terms and conditions of the Warrant Agreement to be entered into between the Company and Continental Stock Transfer & Trust Company, as Warrant Agent, in connection with the IPO. 

(ii) The number of Forward Purchase Units to be issued and sold by the Company and purchased by the Purchaser hereunder shall be determined
as follows: 
 (A) As soon as reasonably practicable, but in no event less than ten (10) Business Days prior to the Company’s
entry into the Definitive Agreement, the Company shall provide the Purchaser with notice (the “Initial Company Notice”) of the number of Forward Purchase Units that it desires the Purchaser to purchase pursuant to this
Agreement, which shall be equal to its good faith estimate of that number which, after payment of the aggregate Forward Purchase Price by the Purchaser, will result in gross proceeds to the Company equal to the amount of funds necessary for the
Company to satisfy the Cash Requirements less the Available Cash; provided, however, that such number shall in no event exceed the Maximum Units; 

(iii) At least two (2) Business Days before the Partnering Transaction Closing, the Company shall provide the Purchaser with an updated
notice (the “Final Company Notice”) including: 
 (A) its determination, based on the actual number of Public Shares
validly submitted for redemption or other changes in the Cash Requirements, of the number of Forward Purchase Units that it requires the Purchaser to purchase pursuant to this Agreement; 

(B) the anticipated date of the Partnering Transaction Closing; and 

(C) instructions for wiring the Forward Purchase Price. 

(iv) In the event that any Definitive Agreement is terminated or the transaction contemplated thereby is abandoned, the procedures completed
pursuant to clause (ii) and (iii) above to determine the number of Forward Purchase Units to be purchased by the Purchaser in connection with such Definitive Agreement shall be disregarded and the provisions of clause (ii) and clause
(iii) above must be separately completed for each Definitive Agreement entered into by the Company. 

  
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 (v) The closing of the sale of Forward Purchase Units (the “Forward
Closing”) shall be held on the same date and concurrently with the Partnering Transaction Closing (such date being referred to as the “Forward Closing Date”). At least one (1) Business Day prior to the
Forward Closing Date, the Purchaser shall deliver to the Company the Forward Purchase Price for the Forward Purchase Units by wire transfer of U.S. dollars in immediately available funds to the account specified by the Company in such notice to be
held in escrow until the Forward Closing. Immediately prior to the Forward Closing on the Forward Closing Date, (i) the Forward Purchase Price shall be released from escrow automatically and without further action by the Company or the
Purchaser, and (ii) upon such release, the Company shall issue the Forward Purchase Units to the Purchaser in book-entry form, free and clear of any liens or other restrictions whatsoever (other than those arising under state or federal
securities laws), registered in the name of the Purchaser (or its nominee in accordance with its delivery instructions), or to a custodian designated by the Purchaser, as applicable. In the event the Partnering Transaction Closing does not occur
within five (5) Business Days of the date scheduled for closing, the Forward Closing shall not occur and the Company shall promptly (but not later than one (1) Business Day thereafter) return the Forward Purchase Price to the Purchaser.
For purposes of this Agreement, “Business Day” means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions are generally authorized or required by law or
regulation to close in the City of New York, New York. 
 (b) Legends. Each register and book entry for the Forward Purchase
Securities shall contain a notation, and each certificate (if any) evidencing the Forward Purchase Securities shall be stamped or otherwise imprinted with a legend, in substantially the following form: 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS. THE SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN
FORWARD PURCHASE AGREEMENT BY AND BETWEEN THE HOLDER AND THE COMPANY. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.” 

2. Representations and Warranties of the Purchaser. The Purchaser represents and warrants to the Company as follows, as of the
date hereof: 
 (a) Organization and Power. The Purchaser is duly organized, validly existing, and in good standing under the laws of
the jurisdiction of its formation and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted. 

(b) Authorization. The Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed and delivered
by the Purchaser, will constitute the valid and legally binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance and any other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies, or (iii) to the extent the indemnification provisions contained in the Registration Rights (as defined below) may be limited by applicable federal or state securities laws. 

  
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 (c) Governmental Consents and Filings. No consent, approval, order or authorization
of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority is required on the part of the Purchaser in connection with the consummation of the transactions contemplated by this
Agreement. 
 (d) Compliance with Other Instruments. The execution, delivery and performance by the Purchaser of this Agreement and
the consummation by the Purchaser of the transactions contemplated by this Agreement will not result in any violation or default (i) of any provisions of its organizational documents, (ii) of any instrument, judgment, order, writ or decree
to which it is a party or by which it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under any lease, agreement, contract or purchase order to which it is a party or by which it
is bound or (v) of any provision of federal or state statute, rule or regulation applicable to the Purchaser, in each case (other than clause (i)), which would have a material adverse effect on the Purchaser or its ability to consummate the
transactions contemplated by this Agreement. 
 (e) Purchase Entirely for Own Account. This Agreement is made with the Purchaser in
reliance upon the Purchaser’s representation to the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that the Forward Purchase Securities to be acquired by the Purchaser will be acquired for
investment for the Purchaser’s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof in violation of any state or federal securities laws, and that the Purchaser has no present intention
of selling, granting any participation in, or otherwise distributing the same in violation of law. By executing this Agreement, the Purchaser further represents that the Purchaser does not presently have any contract, undertaking, agreement or
arrangement with any Person to sell, transfer or grant participations to such Person or to any third Person, with respect to any of the Forward Purchase Securities. For purposes of this Agreement, “Person” means an
individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization, any other entity or any government or any department or agency thereof. 

(f) Disclosure of Information. The Purchaser has had an opportunity to discuss the Company’s business, management, financial
affairs and the terms and conditions of the offering of the Forward Purchase Units, as well as the terms of the Company’s proposed IPO, with the Company’s management. 

(g) Restricted Securities. The Purchaser understands that the offer and sale of the Forward Purchase Units to the Purchaser has not
been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other
things, the bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The Purchaser understands that the Forward Purchase Securities are “restricted securities” under applicable
U.S. federal and state securities laws and that, pursuant to these laws, the Purchaser must hold the Forward Purchase Securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such
registration and qualification requirements is available. The Purchaser acknowledges that the Company has no obligation to register or qualify the Forward Purchase Securities, or any Series A Shares into which the Forward Purchase Securities may be
converted or exercised, for resale, except for the Registration Rights. The Purchaser further acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various requirements including, but not limited
to, the time and manner of sale, the holding period for the Forward Purchase Securities, and on requirements relating to the Company which are outside of the Purchaser’s control, and which the Company is under no obligation and may not be able
to satisfy. The Purchaser acknowledges that the Company filed the Registration Statement for its proposed IPO. The Purchaser understands that the offering of the Forward Purchase Securities is not, and is not intended to be, part of the IPO, and
that the Purchaser will not be able to rely on the protection of Section 11 of the Securities Act with respect to the Forward Purchase Securities. 

  
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 (h) No Public Market. The Purchaser understands that no public market now exists for
the Forward Purchase Securities, and that the Company has made no assurances that a public market will ever exist for the Forward Purchase Securities. 

(i) High Degree of Risk. The Purchaser understands that its agreement to purchase the Forward Purchase Securities involves a high
degree of risk which could cause the Purchaser to lose all or part of its investment. 
 (j) Accredited Investor. The Purchaser is an
accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act. 
 (k) No General Solicitation.
Neither the Purchaser, nor any of its officers, members, managers, employees or agents has either directly or indirectly, including, through a broker or finder, (i) engaged in any general solicitation, or (ii) published any advertisement
in connection with the offer and sale of the Forward Purchase Units. 
 (l) Residence. The Purchaser’s principal place of
business is the office or offices located at the address of the Purchaser set forth on the signature page hereof. 
 (m) Non-Public Information. The Purchaser acknowledges its obligations under applicable securities laws with respect to the treatment of non-public information relating to the
Company. 
 (n) Adequacy of Financing. At the time of the Forward Closing, the Purchaser will have available to it sufficient funds
to satisfy its obligations under this Agreement. 
 (o) No Other Representations and Warranties;
Non-Reliance. Except for the specific representations and warranties contained in this Section 2 and in any certificate or agreement delivered pursuant hereto, none of the Purchaser nor any person
acting on behalf of the Purchaser nor any of the Purchaser’s affiliates (the “Purchaser Parties”) has made, makes or shall be deemed to make any other express or implied representation or warranty with respect to the
Purchaser and this offering, and the Purchaser Parties disclaim any such representation or warranty. Except for the specific representations and warranties expressly made by the Company in Section 3 of this Agreement and in any certificate or
agreement delivered pursuant hereto, the Purchaser Parties specifically disclaim that they are relying upon any other representations or warranties that may have been made by the Company, any person on behalf of the Company or any of the
Company’s affiliates (collectively, the “Company Parties”). 
 3. Representations and Warranties of
the Company. The Company represents and warrants to the Purchaser as follows: 
 (a) Incorporation and Corporate Power. The
Company is a corporation duly incorporated and validly existing and in good standing as a corporation under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted and as
proposed to be conducted. The Company has no subsidiaries. 
 (b) Capitalization. The authorized share capital of the Company will
consist, as of or prior to the IPO Closing, of: 
 (i) 500,000,000 Series A Shares, none of which are issued and outstanding. 

  
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 (ii) 80,000,000 Series B Shares, none of which are issued and outstanding. 

(iii) 40,000,000 shares of the Company’s Series C common stock, par value $0.0001 per share, none of which are issued and outstanding.

 (iv) 40,000,000 shares of the Company’s Series F common stock, par value $0.0001 per share (the “Series F
Shares”), 8,625,000 of which are issued and outstanding. All of the outstanding Series F Shares have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities
laws. 
 (v) 10,000,000 preferred shares, none of which are issued and outstanding. 

(c) Authorization. All corporate action required to be taken by the Company’s Board of Directors and stockholders in order to
authorize the Company to enter into this Agreement, and to issue the Forward Purchase Securities at the Forward Closing, and the securities issuable upon exercise of the Forward Purchase Warrants, has been taken or will be taken prior to the Forward
Closing. All action on the part of the stockholders, directors and officers of the Company necessary for the execution and delivery of this Agreement, the performance of all obligations of the Company under this Agreement to be performed as of the
Forward Closing, and the issuance and delivery of the Forward Purchase Securities and the securities issuable upon exercise of the Forward Purchase Warrants has been taken or will be taken prior to the Forward Closing. This Agreement, when executed
and delivered by the Company, shall constitute the valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive
relief, or other equitable remedies, or (iii) to the extent the indemnification provisions contained in the Registration Rights may be limited by applicable federal or state securities laws. 

(d) Valid Issuance of Securities. The Forward Purchase Securities, when issued, sold and delivered in accordance with the terms and for
the consideration set forth in this Agreement, and the securities issuable upon exercise of the Forward Purchase Warrants, when issued in accordance with the terms of the Forward Purchase Warrants and this Agreement, will be validly issued, fully
paid and nonassessable, as applicable, and free of all preemptive or similar rights, taxes, liens, encumbrances and charges with respect to the issue thereof and restrictions on transfer other than restrictions on transfer specified under this
Agreement, applicable state and federal securities laws and liens or encumbrances created by or imposed by the Purchaser. Assuming the accuracy of the representations of the Purchaser in this Agreement and subject to the filings described in
Section 3(e) below, the Forward Purchase Securities will be issued in compliance with all applicable federal and state securities laws. 

(e) Governmental Consents and Filings. Assuming the accuracy of the representations and warranties made by the Purchaser in this
Agreement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority is required on the part of the Company in connection with the
consummation of the transactions contemplated by this Agreement, except for filings pursuant to Regulation D of the Securities Act, and applicable state securities laws, if any, and pursuant to the Registration Rights. 

(f) Compliance with Other Instruments. The execution, delivery and performance of this Agreement and the consummation of the
transactions contemplated by this Agreement will not result in any violation or default (i) of any provisions of the Company’s certificate of incorporation, as it may be amended from time to time (the “Charter”),
bylaws or other governing documents of the Company, (ii) of any instrument, judgment, order, writ or decree to which the Company is a party or by which it is bound, 

  
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(iii) under any note, indenture or mortgage to which the Company is a party or by which it is bound, (iv) under any lease, agreement, contract or purchase order to which the Company is a
party or by which it is bound or (v) of any provision of federal or state statute, rule or regulation applicable to the Company, in each case (other than clause (i)) which would have a material adverse effect on the Company or its ability to
consummate the transactions contemplated by this Agreement. 
 (g) Operations. As of the date hereof, the Company has not conducted,
and prior to the IPO Closing the Company will not conduct, any operations other than organizational activities and activities in connection with offerings of its securities. 

(h) No General Solicitation. Neither the Company, nor any of its officers, directors, employees, agents or stockholders has either
directly or indirectly, including, through a broker or finder, (i) engaged in any general solicitation, or (ii) published any advertisement in connection with the offer and sale of the Forward Purchase Units. 

(i) No Other Representations and Warranties; Non-Reliance. Except for the specific
representations and warranties contained in this Section 3 and in any certificate or agreement delivered pursuant hereto, none of the Company Parties has made, makes or shall be deemed to make any other express or implied representation or
warranty with respect to the Company, this offering, the proposed IPO or a potential Partnering Transaction, and the Company Parties disclaim any such representation or warranty. Except for the specific representations and warranties expressly made
by the Purchaser in Section 2 of this Agreement and in any certificate or agreement delivered pursuant hereto, the Company Parties specifically disclaim that they are relying upon any other representations or warranties that may have been made
by the Purchaser Parties. 
 4. Registration Rights; Transfer 

(a) Registration Rights. The Purchaser shall be granted registration rights by the Company related to the Forward Purchase Warrants and
the Forward Purchase Shares pursuant to a registration rights agreement to be entered into with the Company, a form of which has been filed with the registration statement relating to the Company’s IPO (the “Registration
Rights”). 
 (b) Transfer. This Agreement and all of the Purchaser’s rights and obligations hereunder (including
the Purchaser’s obligation to purchase the Forward Purchase Units) may be transferred or assigned, at any time and from time to time, in whole or in part, to one or more affiliates of the Purchaser (each such transferee, a
“Transferee”). Upon any such assignment: 
 (i) the applicable Transferee shall execute a signature page to this
Agreement, substantially in the form of the Purchaser’s signature page hereto (the “Joinder Agreement”), which shall reflect the number of Forward Purchase Units to be purchased by such Transferee (the
“Transferee Securities”), and, upon such execution, such Transferee shall have all the same rights and obligations of the Purchaser hereunder with respect to the Transferee Securities, and references herein to the
“Purchaser” shall be deemed to refer to and include any such Transferee with respect to such Transferee and to its Transferee Securities; provided, that any representations, warranties, covenants and agreements of the
Purchaser and any such Transferee shall be several and not joint and shall be made as to the Purchaser or any such Transferee, as applicable, as to itself only; and 

(ii) upon a Transferee’s execution and delivery of a Joinder Agreement, the number of Forward Purchase Units to be purchased by the
Purchaser hereunder shall be reduced by the total number of Forward Purchase Units to be purchased by the applicable Transferee pursuant to the applicable Joinder Agreement, which reduction shall be evidenced by the Purchaser and the Company
amending 

  
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Schedule A to this Agreement to reflect each transfer and updating the “Number of Forward Purchase Units” and “Aggregate Purchase Price for Forward Purchase Units” on the
Purchaser’s signature page hereto to reflect such reduced number of Forward Purchase Units, and the Purchaser shall be fully and unconditionally released from its obligation to purchase such Transferee Securities hereunder. For the avoidance of
doubt, this Agreement need not be amended and restated in its entirety, but only Schedule A and the Purchaser’s signature page hereto need be so amended and updated and executed by each of the Purchaser and the Company upon the occurrence of
any such transfer of Transferee Securities. 
 5. Additional Agreements, Acknowledgements and Waivers of the Purchaser. 

(a) Lock-up; Transfer Restrictions. The Purchaser agrees that it shall not Transfer any Forward
Purchase Units (or the Forward Purchase Shares and Forward Purchase Warrants, including the Series A Shares issued or issuable upon the exercise of any such Forward Purchase Warrants) until 30 days after the completion of the initial Partnering
Transaction. Notwithstanding the foregoing, Transfers of the Forward Purchase Units (and the underlying Series B Shares and Forward Purchase Warrants, including the Series A Shares issued or issuable upon the exercise of any such warrants) are
permitted (any such transferees, the “Permitted Transferees”): (A) to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members of the
Purchaser, or any affiliates of the Purchaser; (B) in the case of an individual, by gift to a member of the individual’s immediate family, to a trust, the beneficiary of which is a member of individual’s immediate family or an
affiliate of such person, or to a charitable organization; (C) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (D) in the case of an individual, pursuant to a qualified domestic
relations order; (E) by private sales or transfers made in connection with the consummation of a Partnering Transaction at prices no greater than the price at which the securities were originally purchased; (F) in the event of the
Company’s liquidation prior to the completion of a Partnering Transaction; (G) in the event of the Company’s liquidation, merger, capital stock exchange, reorganization or other similar transaction which results in all of the
Company’s stockholders having the right to exchange their Series A Shares for cash, securities or other property subsequent to the completion of a Partnering Transaction; (H) as a distribution to limited partners, members or stockholders
of the Purchaser; (I) to the Purchaser’s affiliates, to any investment fund or other entity controlled or managed by the Purchaser or any of its affiliates, or to any investment manager or investment advisor of the Purchaser or an
affiliate of any such investment manager or investment advisor; (J) to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (A) through (I) above; (K) to the Purchaser or
any Transferee hereunder; (L) by virtue of the laws of the Purchaser’s jurisdiction of formation or its organizational documents upon dissolution of the Purchaser; and (M) pursuant to an order of a court or regulatory agency;
provided, however, that in the case of clauses (A) through (E) and (H) through (L), these Permitted Transferees must enter into a written agreement agreeing to be bound by these transfer restrictions. “Transfer”
shall mean the (x) sale or assignment of, offer to sell, contract or agreement to sell, hypothecation, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or
increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position (within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC
promulgated thereunder) with respect to, any of the Forward Purchase Securities (excluding any pledges in the ordinary course of business for bona fide financing purposes or as part of prime brokerage arrangements), (y) entry into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any of the Forward Purchase Securities, whether any such transaction is to be settled by delivery of such Forward Purchase Securities, in
cash or otherwise, or (z) public announcement of any intention to effect any transaction specified in clause (x) or (y). 

  
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 (b) Trust Account. 

(i) The Purchaser hereby acknowledges that it is aware that the Company will establish the Trust Account for the benefit of its public
stockholders upon the IPO Closing. The Purchaser, for itself and its affiliates, hereby agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of the Company as a result of
any liquidation of the Company, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public Shares held by it. 

(ii) The Purchaser hereby agrees that it shall have no right of set-off or any right, title, interest
or claim of any kind (“Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now or in the future, except for redemption and
liquidation rights, if any, the Purchaser may have in respect of any Public Shares held by it. In the event the Purchaser has any Claim against the Company under this Agreement, the Purchaser shall pursue such Claim solely against the Company and
its assets outside the Trust Account and not against the property or any monies in the Trust Account, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public Shares held by it. 

6. NYSE Listing. The Company will use commercially reasonable efforts to effect the listing of the Series A Shares and Public
Warrants on The New York Stock Exchange (the “NSYE”) (or another national securities exchange) at the time of the Partnering Transaction Closing. 

7. Forward Closing Conditions. 

(a) The obligation of the Purchaser to purchase the Forward Purchase Units at the Forward Closing under this Agreement shall be subject to the
fulfillment, at or prior to the Forward Closing of each of the following conditions, any of which, to the extent permitted by applicable laws, may be waived by the Purchaser: 

(i) The Partnering Transaction shall be consummated substantially concurrently with the purchase of the Forward Purchase Units; 

(ii) The Company shall have delivered to the Purchaser a certificate evidencing the Company’s good standing as a Delaware corporation;

 (iii) The representations and warranties of the Company set forth in Section 3 of this Agreement shall have
been true and correct as of the date hereof and shall be true and correct as of the Forward Closing Date, as applicable, with the same effect as though such representations and warranties had been made on and as of such date (other than any such
representation or warranty that is made by its terms as of a specified date, which shall be true and correct as of such specified date), except where the failure to be so true and correct would not have a material adverse effect on the Company or
its ability to consummate the transactions contemplated by this Agreement; 
 (iv) The Company shall have performed, satisfied and complied
in all material respects with the covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Forward Closing; and 

(v) No order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental, regulatory, or
administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition shall be in effect, preventing the purchase by the Purchaser of the Forward Purchase Units. 

  
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 (b) The obligation of the Company to sell the Forward Purchase Units at the Forward Closing
under this Agreement shall be subject to the fulfillment, at or prior to the Forward Closing of each of the following conditions, any of which, to the extent permitted by applicable laws, may be waived by the Company: 

(i) The Partnering Transaction shall be consummated substantially concurrently with the purchase of Forward Purchase Units; 

(ii) The representations and warranties of the Purchaser set forth in Section 2 of this Agreement shall have been
true and correct as of the date hereof and shall be true and correct as of the Forward Closing Date, as applicable, with the same effect as though such representations and warranties had been made on and as of such date (other than any such
representation or warranty that is made by its terms as of a specified date, which shall be true and correct as of such specified date), except where the failure to be so true and correct would not have a material adverse effect on the Purchaser or
its ability to consummate the transactions contemplated by this Agreement; 
 (iii) The Purchaser shall have performed, satisfied and
complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Purchaser at or prior to the Forward Closing; and 

(iv) No order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental, regulatory,
or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition shall be in effect, preventing the purchase by the Purchaser of the Forward Purchase Units. 

8. Termination. This Agreement may be terminated at any time prior to the Forward Closing: 

(a) by mutual written consent of the Company and the Purchaser; 

(b) automatically 
 (i) if the
IPO is not consummated on or prior to twelve months from the date of this Agreement; or 
 (ii) if the Partnering Transaction is not
consummated within 24 months from the closing of the IPO (or twenty-seven (27) months from the closing of the IPO if the Company has executed a letter of intent, agreement in principle or definitive agreement for the Partnering Transaction
within twenty-four (24) months from the closing of the IPO but has not completed the Partnering Transaction within such twenty-four (24) month period), or such later date as may be approved by the Company’s stockholders. 

In the event of any termination of this Agreement pursuant to this Section 8, the Forward Purchase Price (and
interest thereon, if any), if previously paid, and all Purchaser’s funds paid in connection herewith shall be promptly returned to the Purchaser, and thereafter this Agreement shall forthwith become null and void and have no effect, without any
liability on the part of the Purchaser or the Company and their respective directors, officers, employees, partners, managers, members, or stockholders and all rights and obligations of each party shall cease; provided, however, that nothing
contained in this Section 8 shall relieve either party from liabilities or damages arising out of any fraud or willful breach by such party of any of its representations, warranties, covenants or agreements contained in this Agreement. 

  
 10 

 9. General Provisions. 

(a) Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed
effectively given upon the earlier of actual receipt, or (i) personal delivery to the party to be notified, (ii) when sent, if sent by electronic mail or facsimile (if any) during normal business hours of the recipient, and if not sent
during normal business hours, then on the recipient’s next Business Day, (iii) five (5) Business Days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) Business Day
after deposit with a nationally recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All communications sent to the Company shall be sent to: Post Holdings Partnering
Corporation, c/o Post Holdings, Inc., 2503 S. Hanley Road, St. Louis, Missouri 63144, Attn: Brad Harper, email: brad.harper@postholdings.com, with a copy to the Company’s counsel at: Kirkland & Ellis LLP, 601 Lexington Avenue,
New York, NY 10022, Attn: Christian Nagler and Wayne Williams, email: christian.nagler@kirkland.com and wayne.williams@kirkland.com. 

All communications to the Purchaser shall be sent to the Purchaser’s address as set forth on the signature page hereof, or to such e-mail address, facsimile number (if any) or address as subsequently modified by written notice given in accordance with this Section 9(a). 

(b) No Finder’s Fees. Each party represents that it neither is nor will be obligated for any finder’s fee or commission in
connection with this transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the
costs and expenses of defending against such liability or asserted liability) for which the Purchaser or any of its officers, employees or representatives is responsible. The Company agrees to indemnify and hold harmless the Purchaser from any
liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of
its officers, employees or representatives is responsible. 
 (c) Survival of Representations and Warranties. All of the
representations and warranties contained herein shall survive the Forward Closing. 
 (d) Entire Agreement. This Agreement, together
with any documents, instruments and writings that are delivered pursuant hereto or referenced herein, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings,
agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. 

(e) Successors. All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding
upon, and inure to the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective
successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

(f) Assignments. Except as otherwise specifically provided herein, no party hereto may assign either this Agreement or any of its
rights, interests, or obligations hereunder without the prior written approval of the other party. 
 (g) Counterparts. This
Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument. 

  
 11 

 (h) Headings. The section headings contained in this Agreement are inserted for
convenience only and will not affect in any way the meaning or interpretation of this Agreement. 
 (i) Governing Law. This
Agreement, the entire relationship of the parties hereto, and any dispute between the parties (whether grounded in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of
the State of New York, without giving effect to its choice of laws principles. 
 (j) Jurisdiction. The parties (i) hereby
irrevocably and unconditionally submit to the jurisdiction of the state courts of New York and to the jurisdiction of the United States District Court for the Southern District of New York for the purpose of any suit, action or other proceeding
arising out of or based upon this Agreement, (ii) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in state courts of New York or the United States District Court for the Southern
District of New York, and (iii) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named
courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject
matter hereof may not be enforced in or by such court. 
 (k) Waiver of Jury Trial. The parties hereto hereby waive any right to a
jury trial in connection with any litigation pursuant to this Agreement and the transactions contemplated hereby. 
 (l) Amendments.
This Agreement may not be amended, modified or waived as to any particular provision except with the prior written consent of the Company and the Purchaser. 

(m) Severability. The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision
will not affect the validity or enforceability of the other provisions hereof; provided, that if any provision of this Agreement, as applied to any party hereto or to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator
not to be enforceable in accordance with its terms, the parties hereto agree that the governmental authority, arbitrator, or mediator making such determination will have the power to modify the provision in a manner consistent with its objectives
such that it is enforceable, and/or to delete specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced. 

(n) Expenses. Each of the Company and the Purchaser will bear its own costs and expenses incurred in connection with the preparation,
execution and performance of this Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants. The Company shall be responsible
for the fees of its transfer agent; stamp taxes and all of The Depository Trust Company’s fees associated with the issuance of the Forward Purchase Securities and the securities issuable upon conversion or exercise of the Forward Purchase
Securities. 
 (o) Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If
an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring or disfavoring any party hereto because of the
authorship of any provision of this Agreement. Any reference to any federal, state, local, or foreign law will be deemed also to refer to law as amended and all rules and regulations promulgated thereunder, unless the context requires otherwise. The
words “include,” “includes,” and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words
in the singular form 

  
 12 

 
will be construed to include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,”
“hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will
have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter
(regardless of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant. 

(p) Waiver. No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether
intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way any rights arising because of any prior or subsequent occurrence. 

(q) Specific Performance. The Purchaser agrees that irreparable damage may occur in the event any provision of this Agreement was not
performed by the Purchaser in accordance with the terms hereof and that the Company shall be entitled to specific performance of the terms hereof, in addition to any other remedy at law or equity. 

[Signature Page Follows] 

  
 13 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement to be effective as
of the date first set forth above. 
  

			
	PURCHASER:
	
	PHPC SPONSOR, LLC
		
	By:	 	/s/ Robert V. Vitale
	Name:	 	Robert V. Vitale
	Title:	 	President

  

			
	Address for Notices:	 	2503 S. Hanley Road
		 	St. Louis, Missouri 63144

  

			
	COMPANY:
	
	POST HOLDINGS PARTNERING CORPORATION
		
	By:	 	/s/ Robert V. Vitale
		 	Name: Robert V. Vitale
		 	Title: President and Chief Investment Officer

  
 [Signature Page to
Forward Purchase Agreement] 

 TO BE EXECUTED UPON ANY ASSIGNMENT AND/OR REVISION IN ACCORDANCE WITH THIS AGREEMENT TO “NUMBER OF
FORWARD PURCHASE UNITS” AND “AGGREGATE PURCHASE PRICE FOR FORWARD PURCHASE UNITS” SET FORTH BELOW 
 Number of Forward
Purchase Units: 
 Aggregate Purchase Price for Forward Purchase Units:
$                  
 Number of Forward Purchase Units and Aggregate
Purchase Price for Forward Purchase Units as of                , 202[    ], accepted and agreed to as of
this                day of                , 202[    ]. 

 

			
	[                ]

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

  

			
	POST HOLDINGS PARTNERING CORPORATION

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

 SCHEDULE A 

SCHEDULE OF TRANSFERS OF FORWARD PURCHASE UNITS 

The following transfers of a portion of the original number of Forward Purchase Units have been made: 

 

							
	 Date of Transfer
	 	 Transferee
	 	 Number of Forward

Purchase Units

Transferred
	  	 Purchaser Revised

Forward Purchase

Units
Amount

  
 A-1 

 TO BE EXECUTED UPON ANY ASSIGNMENT OR FINAL DETERMINATION OF FORWARD PURCHASE UNITS: 

Schedule A as of                , 202[    ], accepted and
agreed to as of this                day of                , 202[    ]
by: 
  

									
	[                 ]	 		 	     POST HOLDINGS PARTNERING CORPORATION

									
					
	By:	 	   
	 		 	By:	 	   

	Name: 	 	   
	 		 	Name:	 	 
	Title:	 	   
	 		 	Title:	 	   

  
 A-2lp_1021

  Exhibit 10.21

LOOP CANADA INC.

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement (the
“Agreement”) is dated as of February 23, 2021, by and between
Thomas Andrew
Hickey (the
“Executive”) and Loop Canada Inc. (the
“Company”).

 

1.       Duties.

 

1.1 Position.
The Executive is employed as Chief Financial
Officer, reporting to the
Founder and Chief Executive Officer (the “CEO”)
of the Company. The duties and
responsibilities of the Executive shall be commensurate with the
position of an individual providing the same type of services in a
similar company. The Executive shall perform such duties as from
time to time may be prescribed for them by the
Company.

 

1.2 Obligations to the
Company. The Executive agrees
to the best of their ability and experience that they will at all
times loyally and conscientiously perform all of the duties and
obligations required of and from the Executive pursuant to the
express and implicit terms hereof, and to the reasonable
satisfaction of the Company. During the term of the
Executive’s employment relationship with the Company, the
Executive further agrees that they will devote all of their
business time and attention to the business of the Company, on a
full-time basis, and the Executive will not render commercial or
professional services of any nature to any person or organization,
whether or not for compensation, without the prior written consent
of the CEO1 which consent shall not be unreasonably withheld.
The Executive will comply with and be bound by the Company’s
operating policies, procedures and practices from time to time in
effect during the term of the Executive’s
employment.

 

2.       Term
of Employment. The
Executive’s employment hereunder shall be for an
indeterminate term and shall commence on March 1, 2021 or such
later date as the parties may agree (“Commencement
Date”).

 

3.       Compensation.
For the duties and services to be performed by the Executive
hereunder, the Company shall pay the Executive in Canadian
currency, and the Executive agrees to accept, the salary and other
benefits described below in this Section 3.

 

3.1 Salary.
The Executive shall receive a yearly base salary of CA$375,000. The
Executive’s salary will be payable pursuant to the
Company’s normal payroll practices for payment of salary to
executive employees. The Executive’s base salary will be
reviewed as part of the Company’s normal salary review
process.

 

 

3.2 Employee Benefit
Plans. Executive shall
participate in the employee benefit plans, programs and policies
maintained by or for the Company for similarly situated employees
in accordance with the terms and conditions to participate in such
plans, programs and policies as in effect from time to time. The
introduction and administration of benefit plans, programs and
policies are within the Company’s sole discretion and the
introduction, deletion or amendment of any benefit plan, program or
policy will not constitute a breach of this Employment
Agreement.

 

 

1 

The Company
consents to and acknowledges that the Executive has been sitting on
the Board of Directors of Air Tindi and Top Aces Holding Inc. and
will continue to do so following the Commencement Date. In doing
so, the Executive shall at all times maintain the confidentiality
of the Company’s confidential and proprietary information
pursuant to the terms hereof.

 

 

 

 

3.3 Annual Cash Incentive
Award. The Executive shall be
eligible for an annual incentive award opportunity, which is the
short-term incentive for the Executive, which will be paid in cash
(the “Annual
Incentive”). Specific
goals will be defined by the CEO, as agreed upon by the Executive
as to individual Executive goals. Depending upon the level of
performance achieved relative to the specified goals (threshold,
target or maximum), the Executive can earn an Annual Incentive in
the amount of 30% of base salary for threshold performance, 50% of
base salary for target performance and a maximum of 100% of base
salary for achievement of maximum performance. If performance
relative to the specified goals is below threshold performance,
there would be no award. For scalable goals, interpolation can be
applied between award levels; otherwise, goals will be binary and
cumulative. The Annual Incentive will be paid within thirty (30)
days of determination of annual performance and approval by the
Board. The Executive will be eligible for the Annual Incentive
starting with the fiscal year ending February 28,
2022.

 

3.4 Up-Front Equity
Incentive Award. Effective on
or shortly after the date of hire and upon approval by the Board,
the Executive will receive a one-time grant of time vesting
restricted stock units (“the RSUs”) with a grant date
fair value of C$2,000,000 (the “Up-Front Award”). This
restricted stock unit award will vest on the anniversary of the
date of Board approval of the grant as follows:

 

●

Year
1:                                  0%;

 

●

Year
2:                                  0%;

 

●

Year
3:                                  20%;

 

●

Year
4:                                  20%;
and

 

●

Year
5:                                 60%.

 

RSUs
earned will be settled in shares of the Company’s common
stock within sixty (60) days following the vesting
date.

 

The
terms and conditions of the incentive awards shall at all times be
governed by the Loop Industries, Inc. 2017 Equity Incentive Plan
(or any successor plan or plans governing executive incentive
awards). The Compensation Committee may make changes to the form of
the equity incentive plan at any time if it is concluded that it is
in the best interest of the Company.

 

3.5 Executive Plans and
Policies. Executive will be
subject to and comply with any clawback (recoupment) policy, stock
ownership/retention guidelines and other plans or polices
applicable to other executive positions of a comparable level that
the Company may adopt or amend, from time to time in its own
discretion. For the purposes hereof, Company acknowledges that
there are no stock ownership/retention guidelines currently in
place.

 

 

 

 

 

3.6 Vacation.
The Executive shall be eligible for four (4) weeks of paid vacation
per calendar year, which vacation time shall be taken at such time
or times in each year so as not to materially and adversely
interfere with the business of the Company. The vacation
entitlement is acquired during the reference payment period, which
is from January 1 to December 31. Such entitlement will be prorated
for the calendar year in which the Executive commences employment
and for any other year of partial employment. Payment of all
vacation pay will be at base salary. Such vacation entitlement is
in addition to any Company closures for any holiday period. Unused
vacation may not be carried over from any one-year period to any
other period and will be forfeited.

 

3.7 Relocation
Allowance. The Executive shall
be entitled to a relocation allowance of C$25,000 payable in
monthly instalments over a maximum of a 12 months in order to cover
the rental costs of an apartment in the greater Montréal area.
In addition, the Executive shall also be entitled to the
reimbursement of up to C$25,000 in documented long-term
relocation/moving expenses.

 

4.       Termination
of Employment. The Executive or
the Company may end the Executive’s employment as described
below. The Executive will always receive all accrued base salary,
any accrued and unused vacation pay, any unpaid expenses owing and
any other amounts required by the Québec Act Respecting Labour
Standards, as amended or replaced (all such legislation referred to
as the “ARLS”) up to their last day of employment,
payable in one lump sum within 30 days of termination
(collectively, the “Termination Date
Amount”).

 

4.1 Voluntary
Termination. The
Executive may terminate this Agreement
by voluntary resignation upon giving a minimum of 30 days’
advance written notice to the Company (the
“Resignation Notice
Period”). Upon any
termination under this Section 4.1, the Company shall pay the
Executive the Termination Date Amounts. The Company may, at any
time during the Resignation Notice Period, relieve the Executive
from all or any of their duties for all or part of the remainder of
the Resignation Notice Period. This may include a requirement that
the Executive stay away from all or any of the Company’s
premises, not be provided with any work, and/or have no business
contact with all or any of the Company’s agents, employees,
customers, clients, distributors and suppliers. Whether or not the
Executive is relieved of any duties during the Resignation Notice
Period, the Executive will be paid their base salary and any other
benefits in accordance with this Agreement, their employment will
not be terminated by any removal of duties, their employment will
continue during the Resignation Notice Period and they will
continue to be bound by their obligations under this Agreement.
Executive will not disclose their resignation without the prior
approval of the Company. The Company will comply with all
requirements of applicable employment standards legislation
including the ARLS in respect of the termination of the
Executive’s employment, and the Company shall not have any
further obligation to Executive.

 

4.2 Termination for
Serious Reason. This Agreement
may be terminated immediately by the Company at any time for
Serious Reason as defined in section 5.1 below. Upon any
termination under this Section 4.2, the Company shall pay the
Executive the Termination Date Amount. The Company will not be
required to provide any form of advance notice of termination, pay
in lieu of such notice, or any form of severance pay, except as
required by applicable employment standards legislation, including
the ARLS. Any unvested award (including any unvested Annual
Incentive or Up-Front Award) will immediately cease to vest and be
terminated.

 

 

 

 

 

4.3 Termination Without
Serious Reason by the Company

 

4.3.1 

The Company may terminate this Agreement at any
time and without notice or Serious Reason by providing the
Executive with payment of the Termination Date Amount, and the
payment of severance benefits consisting of cash severance set
forth below (the “Separation
Package”). The Separation
Package shall be: (i) the Annual Incentive prorated to the date of
termination based on actual performance, payable in one lump-sum
within the later of thirty (30) days of termination for time based
awards or shortly after performance is determined at the end of the
next quarterly reporting period for performance awards, and (ii)
severance benefits (less applicable deductions and withholdings)
(the “Severance
Benefits”) as
follows:

 

a)

Eighteen
(18) months of the Executive’s then-current base
salary;

 

b)

Notwithstanding Section 3.4, the Up-Front Award
will be treated and paid out as if vested ratably over a period of
sixty (60) months from the date
of Board approval, with a minimum guaranteed vesting of 20% of the
Up-Front Award. Any RSUs vested under the Up-Front Award as of the
date of termination shall be payable in one lump sum within thirty
(30) days of termination. Any unvested RSUs on the date of
termination will be forfeited.

 

The Executive acknowledges that the foregoing
arrangements fully satisfy the Company’s obligations in
respect of the termination of the Executive’s employment and
irrevocably agrees that the foregoing arrangements constitute an
appropriate indemnity in lieu of reasonable notice, in full
compliance with the Executive’s entitlements under the Civil
Code of Quebec (the “CCQ”) having explicit regard for the nature of
the employment, the specific circumstances in which it is carried
on and the duration of the period of work. The Executive further
acknowledges that entitlements herein have been specifically
negotiated by Executive prior to the Commencement
Date.

 

4.3.2 

The
Company’s obligation to pay the Separation Package and other
amounts set forth in Section 4.3.1 above (other than the
Termination Date Amount) is conditional upon the Executive’s
ongoing compliance with the post-employment covenants contained in
Sections 6 and 8 of this Agreement. In the event that the Executive
breaches the post-employment covenants contained in Sections 6 or
8, the Executive will remain bound by all of the terms of this
Agreement, any payments made pursuant to the Separation Package
will automatically cease, and the Executive will be required to
return any payments already made pursuant to the Separation Package
(other than the Termination Date Amount). Notwithstanding the
cessation and/or return of payments, the Executive will at no point
receive payment pursuant to the Separation Package that is less
than the minimum amount of payment required to comply with
applicable legislation, including the ARLS.

 

 

 

 

 

4.3.3 

The
Company’s obligation to pay the Separation Package and other
amounts set forth in Section 4.3.1 above (other than the
Termination Date Amount) is conditional upon the Executive signing,
in the presence of a witness, a full and final release in a form
satisfactory to the Company and delivering an original executed
copy of the full and final release to the Company within thirty
(30) days after the date of termination. If the Executive fails to
execute the full and final release, the Executive will not be
entitled to the Separation Package and will instead receive only
the Termination Date Amount and such other payments and benefit
continuation as are required by the ARLS, if any.

 

4.4 Change of
Control. In the event of a
Change of Control resulting in termination without Serious Reason
or resignation by the Executive for Good Reason within two years of
the Change of Control, the Executive’s entitlements and the
terms and conditions noted in section 4.3 with respect to the
Separation Package shall apply. Any unvested Up-Front Award will
become 100% vested. The Up-Front Award shall be payable in one lump
sum within 30 days of termination.

 

4.5 No Further
Rights. The Executive shall
have no further entitlements upon termination except, if necessary,
to comply with the minimum requirements of the ARLS. The Executive
acknowledges that the foregoing arrangements fully satisfy the
Company’s and all affiliates’ obligations to them in
respect of the termination of their employment and they agree that
the foregoing arrangements constitute reasonable notice in
accordance with the CCQ and that they will not be entitled to
further notice of termination, severance pay, incentive
compensation, damages or other compensatory payments under common
law, civil law or contract.

 

4.6 Return of Company
Property. All equipment,
documents or any other materials of any kind created or used by the
Executive in the course of employment, or otherwise furnished by
the Company or its customers, suppliers, distributors, employees or
consultants in the Executive’s possession or control, shall
be surrendered to the Company, in good condition, promptly upon the
Executive’s termination of employment, irrespective of the
time, manner or cause of termination.

 

5.       Definitions.
For purposes of this Agreement, the following definitions shall
apply:

 

5.1 “Serious
Reason” means a serious
reason pursuant to Article 2094 of the CCQ and includes, without
limitation, (a) the Executive’s breach of a material term of
this Agreement; (b) the Executive’s conviction of a criminal
offence involving fraud or dishonesty, or which otherwise adversely
impacts the reputation of the Company; (c) the Executive directly
or indirectly making personal profit out of or in connection with a
transaction or business opportunity to which the Company is
involved or otherwise associated with, without making disclosure to
and seeking the prior written consent of the Company; (d) the
Executive’s failure to comply with any Company rules or
policies of a material nature; (e) the Executive’s continued
failure to substantially perform their job duties; (f) any actions
or omissions on the Executive’s part constituting gross
misconduct or negligence in connection with the business of the
Company.

 

 

 

 

 

5.2 “Change of
Control” means a sale of
all or substantially all of the shares or assets of the Company or
the Company’s parent, Loop Industries, Inc.
(“Loop”), or any merger or consolidation of the Company
or Loop with or into another corporation other than a merger or
consolidation in which the holders of more than 50% of the total
voting power represented by the voting securities of the Company or
Loop outstanding immediately prior to such transaction continue to
hold (either by the voting securities remaining outstanding or by
their being converted into voting securities of the surviving
entity) more than 50% of the total voting power represented by the
voting securities of the Company or Loop, or such surviving entity,
outstanding immediately after such transaction.

 

6.       Confidentiality
Agreement. The Executive has
signed a Proprietary Information and Inventions Agreement (the
“Proprietary
Agreement”) that is
incorporated by reference and made a part of this Agreement and the
form of which is attached hereto as Schedule “A”. The
Executive hereby represents and warrants to the Company that the
Executive has complied with all obligations under the Proprietary
Agreement and agrees to continue to abide by the terms of the
Proprietary Agreement and further agrees that the provisions of the
Proprietary Agreement shall survive any termination of this
Agreement or of the Executive’s employment relationship with
the Company in accordance with the terms of the Proprietary
Agreement.

 

7.       Confidentiality
of Terms. The Executive agrees
to follow the Company’s strict policy that employees must not
disclose, either directly or indirectly, any information, including
any of the terms of this Agreement, regarding salary or stock
purchase allocations to any person, including other employees of
the Company (other than such employees who have a need to know such
information); provided, however, that the Executive may discuss
such terms with members of their immediate family and any legal,
tax or accounting specialists who provide the Executive with
individual legal, tax or accounting advice. Notwithstanding
anything to the contrary herein, disclosure of such information
shall not be precluded if such disclosure is in response to a valid
order of a court or governmental body or is otherwise required by
law.

 

8.       Covenants.
This Agreement is conditional upon the Executive signing and
agreeing to be bound to the Non-Competition, Non-Solicitation and
Non-Disparagement Agreement attached as Schedule “B” to
this Agreement (the “Non-Competition,
Non-Solicitation and Non-Disparagement Agreement”), which the Executive agrees to execute
and deliver to the Company in connection with this Agreement and is
incorporated by reference.

 

9.       Breach
of the Agreement. The Executive
acknowledges that upon their breach of this Agreement or the
Proprietary Agreement, the Company would sustain irreparable harm
from such breach, and, therefore, the Executive agrees that in
addition to any other remedies which the Company may have under
this Agreement or otherwise, the Company shall be entitled to
obtain equitable relief, including specific performance and
injunctions, restraining the Executive from committing or
continuing any such violation of this Agreement or the Proprietary
Agreement. The Executive acknowledges and agrees that upon the
Executive’s material or intentional breach of any of the
provisions of the Agreement (including Sections 6 and 8) or the
Proprietary Agreement, in addition to any other remedies the
Company may have under this Agreement or otherwise, the
Company’s obligations to provide benefits to the Executive as
described in this Agreement, including without limitation those
benefits provided in Section 4, shall immediately terminate, except
as required by applicable law.

 

 

 

 

 

10.           Entire
Agreement. This Agreement,
together with its Exhibits and Schedules (including the Proprietary
Agreement and the Non-Competition, Non-Solicitation and
Non-Disparagement Agreement), sets forth the entire agreement and
understanding of the parties relating to the subject matter herein,
supersedes any prior agreement, and merges all prior discussions
between them.

 

11.           Conflicts.
The Executive represents and warrants that their performance of all
the terms of this Agreement will not breach any other agreement or
understanding to which the Executive is a party. The Executive has
not, and will not during the term of this Agreement, enter into any
oral or written agreement in conflict with any of the provisions of
this Agreement.

 

12.           Dispute
Resolution. Any dispute,
controversy or claim arising under or in connection with this
Agreement, or the breach hereof (including a dispute as to whether
Serious Reason or Resignation for Good Reason exists), shall be
settled by the competent courts of the Province of Québec,
district of Montreal. Each party shall pay their or its own costs
(including lawyers’ fees) in connection with such court
proceeding except that the Company shall pay the fees and expenses
of the Executive if the Executive is the ultimate successful party
in the dispute as determined in a final, non-appealable judgement.
Notwithstanding the foregoing, the Company shall be entitled to
seek equitable relief directly from a court of competent
jurisdiction with respect to any alleged breach of the Proprietary
Agreement or Sections 6 and 8, including specific performance and
injunctions, restraining the Executive from committing or
continuing to commit such alleged breach.

 

13.           Successors.
Any successor to the Company (whether direct or indirect and
whether by purchase, lease, merger, consolidation, liquidation or
otherwise) to all or substantially all of the Company’s
business and/or assets shall assume the obligations under this
Agreement and agrees expressly to perform the obligations under
this Agreement in the same manner and to the same extent as the
Company would be required to perform such obligations in the
absence of a succession. The terms of this Agreement and all of the
Executive’s rights hereunder shall inure to the benefit of,
and be enforceable by, the Executive’s personal or legal
representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees.

 

14.           Miscellaneous
Provisions.

 

14.1 Amendments and
Waivers. Any term of this
Agreement may be amended or waived only with the written consent of
the parties. The failure by either party to enforce any rights
under this Agreement shall not be construed as a waiver of any
rights of such party.

 

14.2 Notices.
Any notice required or permitted by this Agreement shall be in
writing and shall be deemed sufficient upon receipt, when delivered
personally or by a nationally-recognized delivery service (such as
Federal Express or UPS), or forty-eight (48) hours after being
deposited in the mail as certified or registered mail with postage
prepaid, if such notice is addressed to the party to be notified at
such party’s address as set forth below or as subsequently
modified by written notice.

 

14.3 Choice of
Law. The validity,
interpretation, construction and performance of this Agreement
shall be governed by the laws of the Province of Québec, and
the federal laws of Canada applicable therein, without giving
effect to its or any other jurisdiction’s principles of
conflict of laws.

 

 

 

 

14.4 Severability.
If one or more provisions of this Agreement are held to be
unenforceable under applicable law then (i) such provision shall be
excluded from this Agreement, (ii) the balance of the Agreement
shall be interpreted as if such provision were so excluded and
(iii) the balance of the Agreement shall be enforceable in
accordance with its terms.

 

14.5 Counterparts.
This Agreement may be executed in counterparts, each of which shall
be deemed an original, but all of which together will constitute
one and the same instrument.

 

14.6 Advice of
Counsel. Each party to this
agreement acknowledges that, in executing this Agreement, such
party has had the opportunity to seek the advice of independent
legal counsel and has read and understood all of the terms and
provisions of this Agreement. This Agreement shall not be construed
against any party by reason of the drafting of preparation
hereof.

 

14.7 Language.
The parties hereto have expressly
required that this agreement and documents ancillary thereto be
drafted in the English language. Les parties à la
présente ont expressément exigé que le présent
accord et les documents afférents soient rédigés en
langue anglaise.

 

(Signature
page follows)

 

 

 

 

 

The
parties have executed this Employment Agreement as of the date
first written above.

 

The Company:

 

LOOP CANADA INC.

 

 

By:           

________________________________

Daniel Solomita

Founder and Chief Executive Officer

 

Executive:

 

 

_________________________________

Thomas Andrew Hickey

 

 

 

 

 

SCHEDULE A

 

PROPRIETARY INFORMATION AND

INVENTIONS AGREEMENT

 

LOOP CANADA INC.

 

In consideration of my employment or consultancy
(as the case may be) by LOOP Canada Inc. (the
“Company”, which term includes the Company’s
parent, LOOP Industries, Inc., and any of their respective
subsidiaries and affiliates), any opportunity for advancement or
reassignment that the Company may offer me, the compensation paid
to me in connection with such employment and any stock and/or stock
options which have been or may be granted to me by the Company,
I, Thomas
Andrew Hickey, hereby agree as
follows:

 

1.
Whenever used in this Agreement the following terms will have the
following meanings:

 

1.1 “Invention(s)”
means discoveries, developments, designs, improvements, inventions
and/or works of authorship, whether or not patentable,
copyrightable or otherwise legally protectable. This includes, but
is not limited to, any new machine, article of manufacture,
biological material, method, process, technique, use, equipment,
device, apparatus, system, compound, formulation, composition of
matter, design or configuration of any kind, or any improvement
thereon.

 

1.2 “Proprietary
Information” means
information or physical material not generally known or available
outside the Company or information or physical material entrusted
to the Company by third parties. This includes, but is not limited
to, Inventions, confidential knowledge, trade secrets, copyrights,
product ideas, techniques, processes, formulas, object codes,
biological materials such as nucleic acids, proteins, organisms,
strands, cell lines, antibodies or antigen source materials, or
fragments thereof, mask works and/or any other information of any
type relating to documentation, data, schematics, algorithms, flow
charts, mechanisms, research, manufacture, improvements, assembly,
installation, marketing, forecasts, pricing, customers, the
salaries, duties, qualifications, performance levels and terms of
compensation of other employees, and/or cost or other financial
data concerning any of the foregoing or the Company and its
operations. Proprietary Information may be contained in material
such as drawings, samples, procedures, specifications, reports,
studies, customer or supplier lists, budgets, cost or price lists,
compilations or computer programs, or may be in the nature of
unwritten knowledge or know-how.

 

1.3 “Company
Documents” means
documents or other media that contain Proprietary Information or
any other information concerning the business, operations or plans
of the Company, whether such documents have been prepared by me or
by others. “Company Documents” include, but are not
limited to, blueprints, drawings, photographs, charts, graphs,
notebooks, customer lists, computer disks, tapes or printouts,
sound recordings and other printed, typewritten or handwritten
documents.

 

2.
I understand that the Company is engaged in a continuous program of
research, development and production. I also recognize that the
Company possesses or has rights to Proprietary Information
(including certain information developed by me during my employment
or consultancy (as the case may be) by the Company that has
commercial value in the Company’s business.

 

 

 

 

3.
I understand that the Company possesses Company Documents that are
important to its business.

 

4.
I understand and agree that my employment or consultancy (as the
case may be) creates a relationship of confidence and trust between
me and the Company with respect to (i) all Proprietary Information
and (ii) the confidential information of another person or entity
with which the Company has a business relationship and is required
by terms of an agreement with such entity or person to hold such
information as confidential. At all times, both during my
employment or consultancy (as the case may be) by the Company and
after its termination, I will keep in confidence and trust all such
information, and I will not use or disclose any such information
without the written consent of the Company, except as may be
necessary in the ordinary course of performing my duties to the
Company.

 

5.
In addition, I hereby agree as follows:

 

5.1
All Proprietary Information will be the sole property of the
Company and its assigns, and the Company and its assigns will be
the sole owner of all trade secrets, patents, copyrights and other
rights in connection therewith. I hereby assign to the Company any
rights I may presently have, or I may acquire in such Proprietary
Information.

 

5.2
All Company Documents, apparatus, equipment and other physical
property, whether or not pertaining to Proprietary Information,
furnished to me by the Company or produced by me or others in
connection with my employment or consultancy (as the case may be)
will be and remain the sole property of the Company. I will return
to the Company all such Company Documents, materials and property
as and when requested by the Company, excepting only (i) my
personal copies of records relating to my compensation; (ii) my
personal copies of any materials previously distributed generally
to stockholders of the Company; and (iii) my copy of this Agreement
(my “Personal Documents”). Even if the Company does not
so request, I will return all such Company Documents, materials and
property upon termination of my employment or consultancy (as the
case may be) by me or by the Company for any reason, and, except
for my Personal Documents, I will not take with me any such Company
Documents, material or property or any reproduction thereof upon
such termination.

 

5.3
I will promptly disclose to the Company, or any persons designated
by it, all Inventions relating to the Field, as defined below, made
or conceived, reduced to practice or created by me, either alone or
jointly with others, prior to the term of my employment or
consultancy (as the case may be) and for one (1) year thereafter.
For purposes of this Agreement, “Field” means research,
development, marketing or manufacturing of any products also
researched, developed, marketed or manufactured by the
Company.

 

5.4
All Inventions that I conceive, reduce to practice, develop or have
developed (in whole or in part, either alone or jointly with
others) during the term of my employment or consultancy (as the
case may be) in connection with the business of the Company will be
the sole property of the Company and its assigns to the maximum
extent permitted by law (and to the fullest extent permitted by law
will be deemed “works made for hire”), and the Company
and its assigns will be the sole owner of all patents, copyrights
and other rights in connection therewith. I hereby assign to the
Company my entire right, title and interest, whether possessed now
or later acquired, in such Inventions. I agree that any Invention
required to be disclosed under paragraph 5.3 above within one (1)
year after the term of my employment or consultancy (as the case
may be) will be presumed to have been conceived during my
employment or consultancy (as the case may be). I understand that I
may overcome the presumption by showing that such Invention was
conceived after the termination of my employment or consultancy (as
the case may be).

 

 

 

 

 

5.5
During or after my employment, upon the Company’s request and
at the Company’s expense, I will execute all papers in a
timely manner and do all acts necessary to apply for, secure,
maintain or enforce patents, copyrights and any other legal rights
in Inventions assigned to the Company under this Agreement, and I
will execute all papers and do any and all acts necessary to assign
and transfer to the Company or any person or party to whom the
Company is obligated to assign its rights, my entire right, title
and interest in and to such Inventions. This obligation will
survive the termination of my employment or consultancy (as the
case may be), but the Company will compensate me at a reasonable
rate after such termination for time actually spent by me at the
Company’s request on such assistance. In the event that the
Company is unable for any reason whatsoever to secure my signature
to any document reasonably necessary or appropriate for any of the
foregoing purposes, (including renewals, extensions, continuations,
divisions or continuations in part), I hereby irrevocably designate
and appoint the Company and its duly authorized officers and agents
as my agents and attorneys-in-fact to act for and in my behalf and
instead of me, but only for the purpose of executing and filing any
such document and doing all other lawfully permitted acts to
accomplish the foregoing purposes with the same legal force and
effect as if executed by me.

 

5.6
So that the Company may be aware of the extent of any other demands
upon my time and attention, I will disclose to the Company (such
disclosure to be held in confidence by the Company) the nature and
scope of any other business activity in which I am or become
engaged during the term of my employment or consultancy (as the
case may be). During the term of my employment or consultancy (as
the case may be), I will not engage in any other business activity
that is related to the Company’s business or its actual or
demonstrably anticipated research and development.

 

6. As a matter of record I attach hereto as
Exhibit
A a complete list of all
Inventions (including patent applications and patents) relevant to
the Field that have been made, conceived, developed or first
reduced to practice by me, alone or jointly with others, prior to
my employment or consultancy (as the case may be) with the Company
that I desire to remove from the operation of this Agreement, and I
covenant that such list is complete. If no such list is attached to
this Agreement, I represent that I have no such Inventions at the
time of signing this Agreement. If in the course of my employment
or consultancy with the Company, I use or incorporate into a
product or process an Invention not covered by Paragraph 5.4 of
this Agreement in which I have an interest, the Company is hereby
granted a nonexclusive, fully paid-up, royalty-free, perpetual,
worldwide license of my interest to use and sublicense such
Invention without restriction of any kind.

 

7.
I represent that my execution of this Agreement, my employment or
consultancy (as the case may be) with the Company and my
performance of my proposed duties to the Company in the development
of its business will not violate any obligations I may have to any
former employer, or other person or entity, including any
obligations to keep confidential any proprietary or confidential
information of any such employer. I have not entered into, and I
will not enter into, any agreement that conflicts with or would, if
performed by me, cause me to breach this Agreement.

 

 

 

 

8.
In the course of performing my duties to the Company, I will not
utilize any proprietary or confidential information of any former
employer.

 

9.
This Agreement will be effective as of the first day of my
employment or consultancy (as the case may be) by the Company and
the obligations hereunder will continue beyond the termination of
my employment and will be binding on my heirs, assigns and legal
representatives. This Agreement is for the benefit of the Company,
its successors and assigns (including all subsidiaries, affiliates,
joint ventures and associated companies) and is not conditioned on
my employment for any period of time or compensation therefor. I
agree that the Company is entitled to communicate any obligations
under this Agreement to any future employer or potential employer
of mine.

 

10.
I agree that any dispute in the meaning, effect or validity of this
Agreement will be resolved in accordance with the laws of the
Province of Quebec without regard to its or any other
jurisdiction’s conflict of law’s provisions. I further
agree that if one or more provisions of this Agreement are held to
be unenforceable under applicable laws of the Province of Quebec,
such provision(s) will be excluded from this Agreement and the
balance of the Agreement will be interpreted as if such provision
were so excluded and will be enforceable in accordance with its
terms.

 

 

 

 

 

11.
I HAVE READ AND UNDERSTOOD THE AGREEMENT. THE AGREEMENT MAY ONLY BE
MODIFIED BY A SUBSEQUENT WRITTEN AGREEMENT EXECUTED BY THE
PRESIDENT OR CHIEF OPERATING OFFICER OF THE COMPANY AND
MYSELF.

 

Dated: February 23, 2021.

 

 

 

____________________________

Thomas Andrew Hickey

 

 

Accepted and Agreed to:

 

LOOP CANADA INC.

 

 

 

By:            

____________________________

Daniel Solomita

            

Founder and Chief Executive Officer

 

 

 

 

 

EXHIBIT A

TO

PROPRIETARY INFORMATION AND

INVENTIONS AGREEMENT

 

 

LOOP Canada Inc.

 

 

Ladies and Gentlemen:

 

1. The following is a complete list of all inventions or
improvements relevant to the subject matter of my employment or
consultancy (as the case may be) by LOOP Canada Inc. (the
“Company”) that have been made or conceived or first
reduced to practice by me, alone or jointly with others, prior to
my employment or consultancy (as the case may be) by the Company
that I desire to remove from the operation of the Proprietary
Information and Inventions Agreement entered into between the
Company and me.

 

	

 

________                       No
inventions or improvements.

 

________                       Any
and all inventions regarding:

 

 

 

 

________                       Additional
sheets attached.

 

 

2. I propose to bring to my employment or consultancy (as the case
may be) the following materials and documents of a former
employer:

 

_______                       No
materials or documents.

 

________                       See
below:

 

 

 

_______________________

Thomas Andrew Hickey

 

 

 

 

SCHEDULE B

NON-COMPETITION, NON-SOLICITATION AND
NON-DISPARAGEMENT

 

 

1.

Non-Competition. Except as with
the express written permission of Loop Canada Inc. (the
“Company”), Thomas
Andrew Hickey (“the Executive”) shall not at any
time during employment or during the eighteen (18) month period
following the Termination Date (the “Restricted
Period”), on the Executive’s own behalf or on behalf of
any Person, whether directly or indirectly, in a Same or Similar
Capacity, carry on, be involved or engaged in, provide any services
in relation to or have any interest in any activity in all or part
of the Territory which is in competition with the Business. The
Executive shall not be in default under this provision solely by
virtue of holding, strictly for portfolio purposes and as a passive
investor, not more than five percent (5%) of the issued and
outstanding shares of a corporation in competition with the
Business, the shares of which are listed on a recognized stock
exchange.

 

2.

Non-Solicitation of Employees.
The Executive shall not, during the Restricted Period on the
Executive’s own behalf or on behalf of any person, whether
directly or indirectly, in all or part of the territory, offer
employment to or solicit the employment or services of or otherwise
entice away from the employment or service of the Company or its
Affiliates, any Person or Persons who are, or within the 12 months
preceding the Termination Date, were (i) employed by the Company or
its Affiliates or (ii) providing consulting or other services to
the Company or its Affiliates, whether as an independent contractor
or otherwise; whether or not such Person or Persons would commit
any breach of their contract of employment or services by reason of
leaving the service of the Company or its Affiliates.

 

3.

Non-Solicitation of Customers and
Suppliers. The Executive shall not, during the Restricted
Period, on the Executive’s own behalf or on behalf of any
Person, whether directly or indirectly, for any purpose which is in
competition, in whole or in part, with the Business:

 

(a)

solicit any
Customer or Supplier or procure or assist in the solicitation of
any Customer or Supplier, in all or part of the Territory;
or

 

(b)

accept business
with or enter into a commercial arrangement with any Customer or
Supplier, in all or part of the Territory.

 

4.

Non-Disparagement. The
Executive shall not, during employment with the Company or its
Affiliates or following the termination of the Executive’s
employment for any reason, on the Executive’s own behalf or
on behalf of any person, whether directly or
indirectly:

 

(a)

take any action
that might impair the reputation of the Company or its Affiliates,
or which might otherwise be detrimental to the business or
operational interests of the Company or its Affiliates;
or

 

(b)

criticize,
disparage, defame or make any negative comments, statements or
images about the Company or its Affiliates, Including their current
or former operations, projects, initiatives, employees,
consultants, independent contractors, officers, directors,
customers, suppliers, distributors, shareholders, agents,
representatives, goods, products and/or services, whether oral or
written, Including statements and images made or posted via social
media or on the internet.

 

 

 

 

 

5.

Definitions. The following
capitalized terms, when used herein, have the respective meanings
set forth below. Capitalized terms used but not otherwise defined
herein shall have the respective meanings ascribed thereto in the
Employment Agreement.

 

“Affiliates”
means all of the Company’s direct and indirect predecessor,
subsidiary, parent, related, affiliated and successor
companies.

 

“Business”
means at the Termination Date, or in the two (2) years preceding
the Termination Date, any business or industry in which the Company
and its Affiliates operate, or sell, provide or distribute goods,
products or services.

 

“Customer”
means any Person, to the Executive’s knowledge:

 

(a) 

that has purchased
or distributed the Company’s or any of its Affiliates’
goods, products or services in connection with the Business at any
time during the 12 months preceding the Termination Date;
or

 

(b) 

whom the Company
has solicited, called upon or negotiated with at any time during
the 12 months preceding the Termination Date with a view to selling
or providing goods, products or services to such Person or
distributing goods, products or services through such
Person.

 

“Including”
means “including, without limitation”.

 

“Person”
means any individual, corporation, firm partnership, governmental
organization or other entity.

 

“Same or
Similar Capacity” means:

 

(a) 

the same or similar
capacity or function in which the Executive worked for the Company
and/or any of its Affiliates at any time during the 12 months
preceding the Termination Date; and/or

 

(b) 

any other capacity,
where the Executive’s knowledge of Confidential Information
could provide a competitive advantage to any Person engaged in or
associated with a Person in competition with the
Business.

 

“Supplier”
means any Person, to the Executive’s knowledge:

 

(a) 

having provided
goods, products or services to the Company or any of its Affiliates
in connection with the Business at any time during the 12 months
preceding the Termination Date; or

 

(b) 

whom the Company is
in negotiation with as at the Termination Date with a view to
having such Person provide goods, products or services to the
Company [or any of its Affiliates].

 

“Termination
Date” means the date on which employment will end as
specified in the written notice of termination of employment
provided by the Executive or the Company, as the case may
be.

 

“Territory”
means Canada or the United States of America.

 

 

 

 

 

	
 

	
 

	
 

	

Date

	
 

	

Thomas Andrew Hickey

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