Document:

Lexaria Bioscience Corp.: Exhibit 10.9 - Filed by newsfilecorp.com

THIS JOINT VENTURE AGREEMENT made the 6th day
of April, 2017.

BETWEEN 

	NEUTRISCI INTERNATIONAL CORP., with an
      address at Suite 1600 – 609 Granville Street Vancouver, British Columbia
      V7Y 1C3 
	  
	("NeutriSci") 

AND: 

	LEXARIA BIOSCIENCE CORP., with an address at
      156 Valleyview Road, Kelowna, British Columbia V1X 3M4 
	  
	("Lexaria" and together with NeutriSci, the
      "Parties") 

WHEREAS: 

A.      The Parties entered into a
memorandum of understanding dated November 9, 2016 setting forth the basic terms
of a proposed joint venture agreement; 

B.      NeutriSci and Lexaria each
wish to incorporate a jointly owned corporation (“Newco”) under the laws
of British Columbia for the purpose of developing and selling a line of products
that incorporate Lexaria’s technology for enhancing palatability and
bioavailability of beneficial molecules including, but not limited to,
cannabinoids, in NeutriSci’s existing and pipeline product formats (the
"Business");

C.      The Parties are entering into
this Agreement to set out the terms and conditions by which NeutriSci and
Lexaria will each own a 50% interest in Newco and the Business. 

NOW THEREFORE THIS AGREEMENT
WITNESSETH that in consideration of the premises and the mutual covenants
and agreements hereinafter set forth, the parties hereto agree each with the
other as follows: 

1.         DEFINITIONS
AND SCHEDULES 

1.01      In this Agreement, unless
the context otherwise requires, the following terms will have the following
meanings: 

“Closing” or “Closing Date” has the meaning
assigned thereto in Section 2.02 of this Agreement. 

"Effective Date" has the meaning assigned thereto in
Section 2.02 of this Agreement. 

“Equity Financing” has the meaning assigned thereto in
Section 4.11 of this Agreement.

"Governmental Authorities" means any governments,
whether federal, provincial, or municipal, and any branch, department or
ministry thereof, or any governmental agency, authority, board, tribunal or
commission of any kind whatsoever. 

“Initial Contribution” has the meaning assigned thereto
in Section 2.01 of this Agreement. 

“Jointly Owned IP” has the meaning assigned thereto in
Section 6.05 of this Agreement. 

"Joint Venture" has the meaning assigned thereto in
Section 2.06 of this Agreement.

"Joint Venture Assets" mean and any future assets
purchased by or created on behalf of Newco and the Business and all other
property, whether real, personal, or intellectual which is owned, leased, held,
developed, constructed or acquired for the Business by or on behalf of the
Parties.

"Law" or "Laws" means all applicable domestic and
foreign national, federal, state and local Laws (statutory or common), rules,
ordinances, regulations, grants, concessions, franchises, licenses, orders,
directives, judgments, decrees, and other governmental restrictions, including
permits and other similar requirements, whether legislative, municipal,
administrative or judicial in nature. 

“Lexaria IP” has the meaning assigned thereto in Section
6.01 of this Agreement.

“Lexaria New IP” has the meaning assigned thereto in
Section 6.04 of this Agreement.

"Liabilities" means: (i) any and all penalties, costs,
losses, damages, judgments, settlements, disbursements, expenses, fees,
obligations, debts, duties, judgments and other liabilities howsoever
characterized, whether known or unknown, accrued or unaccrued, actual,
contingent or otherwise, and any and all actions, claims, contests, suits,
proceedings, demands and other judicial or administrative actions seeking to
impose any of the foregoing; and (ii) environmental liabilities. 

"MOU" means the memorandum of understanding dated
November 9, 2016 entered into between NeutriSci and Lexaria.

“NeutriSci IP” has the meaning assigned thereto in
Section 6.02 of this Agreement. 

“NeutriSci New IP” has the meaning assigned thereto in
Section 6.03 of this Agreement. 

"Net Profits" means income available for distribution to
the Parties after deducting all expenses incurred by the Business as determined
by quarterly financial statements of the Business, and specifically excludes
non-Business activities of the Parties. 

“Newco Improvements” has the meaning assigned thereto in
Section 6.06 of this Agreement. 

"Operations" means all activities carried out by the
officers and directors of Newco in respect of the Business.

"Ownership Interest" means all the right, title
and interest of a Party in and to the Joint Venture, the Joint Venture Assets
and accrued interest thereon and the Party's interest in and to this Agreement.

"Person" means any individual, firm, partnership, joint
venture, trust, corporation, limited liability company, unincorporated
organization, estate or other business entity. 

"Parties" means the parties to this Agreement and their
respective successors and permitted assigns which become parties pursuant to
this Agreement. 

“Revenue Interests” has the meaning assigned thereto in
Section 2.05 of this Agreement. 

"Tax" and "Taxes" shall mean any or all Canadian
federal, provincial, local or foreign (i.e. non-Canadian) income, gross
receipts, real property gains, goods and services, license, payroll, employment,
excise, severance, stamp, occupation, premium, windfall profits, environmental,
customs duties, capital stock, franchise, profits, withholding, social security
(or similar), unemployment, disability, real property, personal property, sales,
use, transfer, registration, value added, alternative or add-on minimum, or
other taxes, levies, governmental charges or assessments of any kind whatsoever,
including, without limitation, any estimated tax payments, interest, penalties
or other additions thereto, whether or not disputed. 

1.02      The following is a list of
schedules to this Agreement: 

             
Schedule "A" – Form of Articles 

INITIAL CONTRIBUTIONS & INTERESTS 

2.01      The Parties will contribute
the following as initial contributions for the purpose of acquiring an ownership
interest in Newco and to provide the necessary funding of initial operating
costs of the Business for the first three (3) to six (6) months: 

	 	(a) 	
      NeutriSci, as its initial contribution, will deposit
      CDN$25,000 into Newco’s bank account or other such account as the parties
      may agree.

	 	 	 
	 	(b) 	
      Lexaria, as its initial contribution, will deposit
      CDN$25,000 into Newco’s bank account or other such account as the parties
      may agree.

(together, the “Initial
Contribution”) 

2.02      Upon completion of the
Initial Contribution by each party (the “Closing” or “Closing
Date”) and the completion of the incorporation of Newco (together, with the
Closing Date, the “Effective Date”), the Parties ownership interests in
Newco and the Business will be the following: 

	 	NeutriSci 	- 	50% 
	 	Lexaria 	- 	50% 

2.03      Upon the Effective Date, and
except for the President’s Salary (as defined section 4.10) the Parties shall
bear the costs arising under this Agreement and the operation of the Business as
to the following: 

	 	NeutriSci 	- 	50% 
	 	Lexaria 	- 	50% 

2.04      Upon the Effective Date, and
except for the President’s Salary, the Parties shall have the following
liability for all things that are not operating costs arising under this
Agreement and the operation of the Business as to the following:

	 	NeutriSci 	- 	50% 
	 	Lexaria 	- 	50% 

2.05      Upon the Effective Date, the
Parties shall receive all revenues and profits derived from the operation of the
Business as to the following (the “Revenue Interests”): 

	 	NeutriSci 	- 	50% 
	 	Lexaria 	- 	50% 

2.06      On Closing, NeutriSci and
Lexaria shall be deemed to have formed a joint venture for operation and further
development of the Business of Newco (the "Joint Venture"). 

3.        
 REPRESENTATIONS, WARRANTIES AND COVENANTS 

3.01      Each of NeutriSci and
Lexaria represents and warrants to the other as follows: 

	 	(a) 	
      It is duly incorporated and is in good standing as to the
      filing of annual returns under the laws of the jurisdiction of its
      incorporation.

	 	 	 
	 	(b) 	
      It has the corporate or other power to enter into this
      Agreement.

	 	 	 
	 	(c) 	
      All necessary and requisite corporate proceedings,
      resolutions and authorizations have been or will be taken, passed, done
      and given to authorize, permit and enable it to execute and deliver this
      Agreement.

	 	 	 
	 	(d) 	
      The entering into of this Agreement will not be in
      contravention or constitute default under the laws of the incorporation
      jurisdiction of the Party or any indenture, deed, agreement, undertaking
      or obligation of the Party or to which it is a party.

	 	 	 
	 	(e) 	
      There are no actions or proceedings pending or, to its
      knowledge threatened which challenge the validity of this Agreement or
      which might result in a material adverse change in the financial condition
      of any Party or which would materially adversely
affect its ability to perform its obligations under this Agreement or
any other document in connection with them.

	 	(f) 	
      This Agreement is a valid, binding and enforceable
      obligation of each of the Parties in accordance with its terms.

	 	 	 
	 	(h) 	
      It has not, and to the best of its knowledge and
      following due inquiry, nor has any other Person, in relation to the
      Business received any notice of any breach of any Law or notice of default
      of any of the terms or provisions of any agreements or instruments in
      respect of the Business and it has no knowledge of any act or omission or
      any condition with respect to the Business which could be give rise to any
      such notice.

	 	 	 
	 	(i) 	
      None of the foregoing representations and warranties
      contains any untrue statement of a material fact or omits to state any
      material fact.

4.        
 FORMATION AND MANAGEMENT OF JOINT VENTURE COMPANY

4.01      On or before Closing,
NeutriSci and Lexaria shall form Newco as a corporation under the jurisdiction
of British Columbia. 

4.02      On or before Closing, the
Parties shall procure that such shareholder and director meetings are held, and
resolutions passed, to ensure that Newco shall have the characteristics set out
in this section. 

4.03      The authorized share capital
of Newco shall comprise of common shares without par value with each common
share entitling its holder to one vote. Upon incorporation, Newco shall have an
issued and outstanding of 50,000 common shares with NeutriSci and Lexaria each
holding 25,000 common shares of Newco. 

4.04      The name of Newco shall be
Ambari Corporation or any other name as mutually agreed to between the parties,
subject to the approval of the B.C. Registrar of Companies. 

4.05      Newco’s articles of
incorporation shall be substantially in the form in Schedule “A” attached
thereto. 

4.06      The registered office of
Newco shall be Suite 2200, HSBC Building 885 West Georgia Street, Vancouver,
B.C. V6C 3E8 upon or before Closing. 

4.07      The financial year-end of
the Newco shall end on December 31 in each year.

4.08      As soon as reasonably
practicable, Newco shall open USD and CAD bank accounts with the Board of
Directors having sole authority to approve all financial transactions in
connection with Newco and the Business.

4.09      Mr. Glen Rehman and Mr.
Chris Bunka shall each be appointed as directors (each a “Director”) ,
Mr. Keith Bushfield shall be appointed as the President (the
“President”), and Mr. John Docherty shall be appointed as Chief Technical
Officer (the “CTO”) of Newco.

4.10      The President shall be
responsible for the day-to-day operations of Newco and shall be employed on a
full-time basis with a monthly salary of CDN$12,500 per month (the
“President’s Salary”). Such salary shall be contributed by NeutriSci and Lexaria on a
monthly basis with NeutriSci contributing in the amount of CDN$10,000 per month
and Lexaria contributing in the amount of CDN$2,500 per month. 

4.11      On the earlier of six (6)
months from the Effective Date or in the event Newco completes an equity
financing (the “Equity Financing”) of no less than CND$500,000 on terms
subject to the unanimous consent of the Directors, then one-hundred percent
(100%) of the President’s Salary shall be paid by Newco.

4.12      Subject to the terms and
  provisions of this Agreement, the President shall have the following powers and
duties: 

	 	(a) 	
      The President shall manage, direct and control Operations
      with best efforts towards maximum efficiencies and
profitability;

	 	 	 
	 	(b) 	
      The President shall keep the Joint Venture Assets free
      and clear of all encumbrances, except for those existing at the time of,
      or created concurrently with, the acquisition of such Joint Venture
      Assets;

	 	 	 
	 	(c) 	
      The President shall obtain and maintain insurance for
      Newco, with such limits and deductibles, as would normally be maintained
      by a reasonably prudent manager in the circumstances;

	 	 	 
	 	(d) 	
      The President shall keep NeutriSci and Lexaria advised of
      all Operations by submitting in writing to each respective party a report
      every thirty (30) days. At all reasonable times the President shall
      provide NeutriSci and Lexaria access to, and the right to inspect, audit,
      and copy all production reports, invoices, operations and other
      information acquired in Operations; and

	 	 	 
	 	(e) 	
      The President shall conduct all Operations in a good,
      workmanlike and efficient manner, in substantial accordance with sound
      industry standards and practices.

4.13      In the event that six (6)
months from the Effective Data has passed and the Equity Financing has not been
completed, then the President’s Salary shall be reduced to CDN$5,000 per month
until such time as the CDN$500,000 financing has been completed. 

5.         
OPERATION OF JOINT VENTURE 

5.01      The Parties acknowledge that
any regulated substance such as cannabis oil is handled and transacted only by
local and state-licensed entities in all applicable jurisdictions. Evidence of
proper business insurance may be required.

5.02      After funds from the Initial
Contribution have been depleted, and before the completion of the Equity
Financing, subsequent funds required from time to time by the Parties to operate
the Business will be obtained first by funding as to 50% by Lexaria and 50% by
NeutriSci into the bank account of Newco. If a Party wishes to obtain a loan for
the Business to fund their required contribution to the Joint Venture, they
shall first provide the other Party with particulars of the terms of any such
proposed loan including the amount of any commitment or other loan fees, the
security required by the lender and other terms and conditions, and shall not
finalize any such loan without the prior written approval of the other Party,
such approval not to be unreasonably delayed or withheld. No Party may
encumber the Business nor offer the Business as security without the express
written permission of all other Parties to the Business. 

5.03      Commencing not sooner than
six (6) months following the Effective Date, the Net Profits as defined by
audited quarterly financial statements prepared under IFRS (or US GAAP) shall be
distributed to each of the Parties in proportion to their respective
then-current equity ownership interests on a quarterly basis in arrears, but
only after and the amount in excess of a net profit operating balance of
CDN$500,000 has been established. Then-current equity ownership interest shall
mean the lowest percentage equity ownership interest experienced by a Party at
any point in any Newco fiscal quarter. 

5.04      If either Party (the
"Defaulter") fails to provide its contribution to the Business within
twenty (20) business days from the date required (the "Deficiency"), then
the Party who has paid its contribution may give written notice to the Defaulter
to pay its Deficiency. If such Defaulter does not pay its Deficiency within
forty-five (45) days of such notice, that Party making its own contribution as
required (the "Contributor") will not be required to but may pay all or
any part of the Deficiency on behalf of the Defaulter. If the Contributor pays
all or any part of the Deficiency on behalf of the Defaulter: 

	 	(a) 	
      The total amount advanced by the Contributor on behalf of
      the Defaulter will be aggregated quarterly and interest will accrue on the
      same from the date or dates of such contribution at a rate of interest
      equal to that charged by the Bank of Canada’s prime rate plus 10 percent
      (10%). Such total amount and all interest accrued and unpaid thereon from
      time to time will be herein called the "Deficiency
Contribution";

	 	 	
       

	 	(b) 	
      Any Deficiency Contribution will be Payable by the
      Defaulter to the Contributor on demand (the “Demand Notice”) by the
      Contributor.

	 	 	
       

	 	(c) 	
      Any Deficiency Contribution payment that has been
      demanded and not paid within 30 days of such demand notice shall be
      immediately, and without further notice by the Contributor, convertible at
      the exclusive option of the Contributor into 1% of ownership interest of
      Newco for every CDN$10,000 of the Deficiency Contribution including unpaid
      interest. The Defaulter in this case agrees to enter a purchase and sale
      agreement with the Contributor 30 days following the Demand Notice that
      will effect the sale of Defaulter’s ownership interest in Newco to
      Contributor at the rate of 1% of ownership for every CDN$10,000 of
      Deficiency Contribution paid by Contributor, including unpaid
    interest.

5.05      The President shall present
to the Directors for review and approval a one-year business plan and one-year
budget within fourty-five (45) days of the Effective Date. The business plan
will include the normal items found within a business plan, including but not
limited to: executive summary; budgets; financing plans; revenue forecasts;
operations; management and operations structure; key products and services;
market for key products and services; and sales, distribution and marketing
strategies, etc. 

5.06      The
President shall present to the Directors on not less than a monthly basis,
management and operations meetings to inform the Directors fully on all aspects
of the previous month’s Operations of the Business of Newco, and to discuss and
plan for the Operations of the Business of Newco for the month to come. The
President shall prepare and circulate minutes of each meeting to the Directors
not more than seven (7) days after each meeting is held. Meetings will generally
be held by teleconference but can also be conducted in-person. Any of the
Directors and the President can call a meeting at any time with five (5)
business-days’ notice to the other participants. A meeting is not valid unless a
quorum is present, and a quorum is defined as not less thanthree eligible
persons from the then-current list of Directors and President and Chief
Technology Officer. 

5.07      The President shall be
responsible for obtaining and managing appropriate liability insurance for the
purposes of; ensuring all monthly accounts with 3rd party vendors are
kept up to date; to apply for all necessary permits, licenses and similar
authorizations in the conduct of the Business; and to notify the Directors in
writing of any allegations or reasonable suspicion of fraud, illegal activities
or non-compliance with any bylaws or other regulations. 

5.08      It is understood by the
Parties that the Business of NewCo shall include development and
commercialization of products that may contain controlled substances derived
from marijuana and/or hemp in certain jurisdictions, e.g., cannabidiol and/or
tetrahydrocannabinol. The President shall be responsible for ensuring that all
developmental and finished products produced and hereunder are handled, tested,
distributed and/or sold in compliance with all laws applicable to the
cannabinoid industry within the relevant jurisdiction(s). In order to do so, it
is further understood by the Parties that the President may, from time to time,
be required to contract the services of appropriately licensed, third party
manufacturers, testing facilities and distributors. When necessary, the
President will endeavor to do so with the best financial terms, respecting all
provisions outlined in Sections 6 and 10 hereunder and with the understanding
that he is not permitted to sublicense any intellectual property to any third
party without the express written mutual consent of the Directors.

6.         
INTELLECTUAL PROPERTY 

6.01      Lexaria retains full,
absolute, and complete rights to all processes covered or described in all of
its granted and/or pending patent applications filed prior to and following the
date of this Agreement, and any future continuations, continuations in part or
divisional applications filed thereto comprise its technology in addition to any
unpatented trade secrets, know-how or formulations not generally available to
the public as shown in Schedule “B” attached hereto (“Lexaria IP”) and
reserves the right to license or otherwise utilize such Lexaria IP for any
purpose whatsoever. 

6.02      NeutriSci retains full,
absolute, and complete rights to all processes covered or described in all of
its granted and/or pending patent applications filed prior to and following the
date of this Agreement, and any future continuations, continuations in part or
divisional applications filed thereto comprise its technology, in addition to
any unpatented trade secrets, know-how or formulations not generally available
to the public as shown in Schedule “C” attached hereto (“NeutriSci IP”)
and reserves the right to license or otherwise ulitlize such NeutriSci IP for
any purpose whatsoever. 

6.03      Any intellectual property
resulting from NeutriSci or its parent company’s work, know-how, or development
that does not include or rely upon Lexaria’s IP, or from jointly owned
intellectual property, shall be owned by NeutriSci or its parent company
(“NeutriSci New IP”). 

6.04      Any intellectual property
resulting from Lexaria’s or its subsidiary Lexaria CanPharm Corp’s work,
know-how, or development that does not include or rely upon NeutriSci’s IP or
from jointly owned intellectual property, shall be owned by Lexaria or by
Lexaria CanPharm Corp (“Lexaria New IP”). 

6.05      Joint Improvements: Rights
and title to intellectual property improvements made by either party, whether or
not patentable, and any patent applications or patents based thereon, which
directly relate to and are not severable from either party’s intellectual
property shall be jointly owned intellectual property (“Jointly Owned
IP”) by both Parties under an exclusive, non-sub-licensable, fully-paid,
royalty-free, perpetual license. The Parties shall cooperate to cause the filing
of one or more patent applications covering any such Jointly Owned IP. The
Parties will mutually agree upon which of them shall be responsible for filing, prosecution and maintenance of Jointly Owned IP. The
expenses of such filing, prosecution and maintenance shall be equally shared by
the Parties unless one of the Parties assigns all of its rights to the other
Party. Both Parties agree to assist the other Party in enforcing its rights in
the Jointly Owned IP. The costs of any such assistance or cooperation will be
borne by the requesting party.

6.06      Rights and title to
intellectual property improvements after the execution of the Agreement which
are conducted, researched, discovered by Newco and/or Lexaria and/or NeutriSci,
relating to the Business, products of Newco, its employees and consultants
whether or not patentable, and any patent applications or patents based thereon,
which directly relate to and are not severable from NeutriSci IP, NeutriSci New
IP, Lexaria IP, or Lexaria New IP and which are improvements thereto by Newco,
its employees or its partners, shall be owned by Newco (“Newco
Improvements”). In respect to such Newco Improvements, Newco shall grant to
each of the Parties a license to use the underlying intellectual property
supporting any such improvement for the term the Agreement (including any
renewal terms) and Newco shall agree to negotiate in good faith terms of license
renewal after the end of the term of the Agreement.

6.07      If Lexaria or NeutriSci
  develops any Newco Improvements, then Lexaria or NeutriSci will promptly provide
  Newco with written notice of such improvements. Following receipt of notice of
  such improvements, each of the Parties shall have the exclusive right during the
  term of the Agreement to receive a license from Newco for the improvements for
  that party’s use (not to be re-licensed to third parties). After the Agreement
  expires, each Party shall have the option, upon mutually agreeable terms and
  conditions that the Parties shall negotiate in good faith, to license the
  improvements for its own use but not to be re-licensed to third parties, though
  nothing shall be interpreted to require Newco to sell or license the
improvements to either party after the License Agreement expires. 

6.08      The Parties shall represent
that all partners, employees and other persons acting on its behalf in
performing their obligations shall be obligated under a binding written
agreement to assign, or as they each shall direct, all intellectual property
improvements that include or rely on intellectual property conceived or reduced
to practice by such partners, employees or other persons acting on their behalf
in accordance with this Agreement. 

6.09      Upon making any invention
that does not include or rely upon Jointly Owned IP, Newco Improvements or upon
intellectual property belonging to the other party, the discovering party has no
obligation to share such information of invention with the other party nor
inform Newco of said invention, and the discovering party retains unrestricted
rights and ability to use, assign, license, seek patent and other forms of
intellectual property protection related to said invention.

6.10      Upon execution of this
Agreement, the Parties each agree to license its respective or jointly owned
intellectual property, know-how and processes to Newco at no charge to the
extent Newco requires in order to execute its business plan. 

7.         
DEFAULT 

7.01      It is an event of default (a
"Default") if a Party (the "Defaulting Party", the other Parties
being the "Non-Defaulting Parties"): 

	 	(a) 	
      fails to observe, perform or carry out any of his
      obligations hereunder and such failure continues for thirty (30) days
      after any of the Non-Defaulting Parties have, in writing, demanded that
      such failure be cured;

	 	(b) 	
      fails to take reasonable actions to prevent or defend
      assiduously any action or proceeding in relation to any of their Ownership
      Interest for seizure, execution or attachment or which
  claims:

	 	(i) 	
      possession;

	 	 	 
	 	(ii) 	
      sale;

	 	 	 
	 	(iii) 	
      the appointment of a receiver or receiver-manager of its
      assets; or

	 	 	 
	 	(iv) 	
      forfeiture or termination;

	 		
      of or against any of the Ownership Interest of the
      Defaulting Party, and such failure continues for thirty (30) days after a
      Non-Defaulting Party has, in writing, demanded that the same be taken or
      the Defaulting Party fails to defend successfully any such action or
      proceeding;

	 	 	 
	 	(c) 	
      becomes bankrupt or commits an act of bankruptcy or if a
      receiver or receiver-manager of his assets is appointed or makes an
      assignment for the benefit of creditors or otherwise;

	 	 	 
	 	(d) 	
      fails after fourteen days' notice in writing to the other
      to resolve any deficiency or breach of Section 5.04 or of Section 11,
      hereof.

7.02      In the event of a Default,
the Non-Defaulting Parties may do any one or more of the following: 

	 	(a) 	
      pursue any remedy available to them in law or in equity,
      it being acknowledged by each of the Parties that specific performance,
      injunctive relief (mandatory or otherwise) or other equitable relief may
      be the only adequate remedy for a Default;

	 	 	 
	 	(b) 	
      take all actions in their own names or in the name of the
      Defaulting Party or the Parties as may reasonably be required to cure the
      Default, in which event all payments, costs and expenses incurred therefor
      shall be payable by the Defaulting Party to the Non-Defaulting Parties on
      demand with interest at the Royal Bank of Canada prime commercial rate of
      interest for its most creditworthy customers plus 6% per annum;

	 	 	 
	 	(c) 	
      implement the ownership valuation sales procedure as set
      out in Section 5.04 hereof;

	 	 	 
	 	(d) 	
      waive the Default provided, however, that any waiver of a
      particular Default shall not operate as a waiver of any subsequent or
      continuing Default.

8.         
NO PARTNERSHIP 

8.01      Except as otherwise
expressed in this Agreement, the rights and obligations of the Parties will be,
in each case, several, and will not be or be construed to be either joint or
joint and several. Nothing contained in this Agreement will, except to the
extent specifically authorized hereunder, be deemed to constitute a Party a
partner, an agent or legal representative of the other Parties. It is intended
that this Agreement will not create the relationship of a partnership among the
Parties and that no act done by any Party pursuant to the provisions hereof will operate to create
such a relationship. 

8.02      Notwithstanding Section
8.01, in the event the Parties wish to enter into a partnership, they may do so
with an additional addendum to this Agreement.

9.         
FINANCIAL 

9.01      Each Party shall be
responsible for and pay their own respective corporate and personal tax and duty
obligations, whether in Canada, the United States, or elsewhere, and each of the
Parties shall hold the other and the Joint Venture harmless and agree to
indemnify them for those tax and duty obligations, as well as and costs of
collection, interest, fines, penalties, or litigation. 

9.02      The books of account of the
Business shall be maintained on an accrual basis in accordance with
International Financial Reporting Standards, consistently applied, and shall
show all items of income and expense, all assets and liabilities and the
contribution accounts of the Parties. 

9.03      Any Party shall have the
right from time to time at all reasonable times during usual business hours and
without causing a material disruption of the Business, to audit, examine and
make copies of or extracts from all records relating to the Business. Such right
may be exercised through any agent or employee of such Party designated by it,
or by independent accountants designated by such Party. Such Party shall bear
all expenses incurred in any such audit or examination or for copies or extracts
made at such Party's request. 

9.04      Any combination of the CFO,
controller, and/or auditors of each of the Parties shall have online read-only
access to Newco’s bank account for purposes of auditing and accounting. Newco
shall provide to each of the Parties, within 15 days of each Party’s fiscal
quarter-end, financial statements detailing the financial operations and
performance for the 3-month period just ended, and simultaneously provide copies
of all Newco bank statements, expense reports, and material agreements for the
3-month period just ended. Computerized records shall be kept in SAGE or
equivalent software and be made available to either Party’s financial personnel
as described within this Section within two (2) business day’s notice. 

9.05      Unanimous written consent in
advance from the Directors is required in each of these circumstances: 

	 	i) 	
      Aggregate funding schedules or budgets for all aspects of
      building, growing and operating the Business that involve annual budgets
      of CDN$100,000 or more;

	 	 	 
	 	ii) 	
      Each capital expenditure incurred by the Business or
      Operations of more than CDN$75,000 and each salary, wage or bonus offered
      by the Business or Operations of more than CDN$75,000 per annum; or salary
      wage or bonuses paid to the same party, or capital expenditures paid to
      the same supplier or service provider that in aggregate exceed CDN$75,000
      per annum.

	 	 	 
	 	iii) 	
      Sales or marketing deals or alliances which involve
      costs, discounts or concessions greater than CDN$25,000 in any given
      year

	10. 	
      CONFIDENTIALITY

	 	 
	10.01 	
      Confidential Information - In this Agreement,
      references to a “Disclosing Party” mean a party disclosing Confidential
      Information, and references to a “Receiving Party” mean a party receiving
      Confidential Information.

	 	 
	10.02 	
      In this Agreement, the term “Confidential Information”
      means the following disclosed, generated or derived in connection with the
      Business (a) any information of whatever nature or form relating to the
      Disclosing Party and its affiliates, subsidiaries, or any customer of or
      supplier or lender of the Disclosing Party and its affiliates regardless
      of whether the Confidential Information was communicated orally, in
      writing or by electronic transmission, and (b) any summaries, notes,
      analyses, compilations, studies or other records that contain or otherwise
      reflect or have been generated, wholly or partly, or derived from such
      Confidential Information (“Derivative Information”). The term
      “Confidential Information” shall not include such portions of the
      Confidential Information which (i) are, or prior to the time of disclosure
      or utilization become, generally available to the public other than as a
      result of a disclosure by the Receiving Party or its Representatives (as
      hereafter defined), or (ii) are received by the Receiving Party from an
      independent third party who had obtained the Confidential Information
      lawfully and to its knowledge was not under an obligation of secrecy or
      duty of confidentiality owed to the Disclosing Party, or (iii) the
      Receiving Party can show were in its lawful possession before it received
      such Confidential Information from the Disclosing Party, or (iv) the
      Receiving Party can show was independently developed by the Receiving
      Party or on the Receiving Party’s behalf.

	 	 
	10.03 	
      Non-Disclosure and Restricted Use − The
      Confidential Information will be kept confidential and will not, without
      prior written consent of the Disclosing Party, or as expressly provided in
      this Agreement, be disclosed by the Receiving Party in any manner
      whatsoever, in whole or in part, and will not be used by the Receiving
      Party, directly or indirectly, for any purpose other than evaluating and
      completing the Business.

	 	 
	10.04 	
      Storage and Records – The Receiving Party shall
      store the Confidential Information properly and securely and ensure that
      reasonable physical, technological and organisational measures are in
      place to protect the Confidential Information against unauthorised or
      unintended access, use or disclosure.

	 	 
	10.05 	
      Access Limited to Representatives – The Receiving
      Party may reveal or permit access to the Confidential Information only to
      its subsidiaries or parent company, agents, representatives (including
      lawyers, accountants and financial advisors), directors, officers and
      employees (each a “Representative”) who need to know the
      Confidential Information for the Business, who are informed by the
      Receiving Party of the confidential nature of the Confidential
      Information, who are directed by the Receiving Party to hold the
      Confidential Information in confidence and who agree to act in accordance
      with the terms and conditions of this Agreement. The Receiving Party will
      take all necessary precautions or measures to prevent improper access to
      the Confidential Information or use or disclosure of the Confidential
      Information by its Representatives and will be responsible for any breach
      of this Agreement by any of its Representatives. The Receiving Party will,
      in the event of a breach of the Agreement or any disclosure of
      Confidential Information by the Receiving Party or its Representatives,
      other than as permitted by this Agreement, through accident, inadvertence,
      or otherwise, notify the Disclosing Party of the nature of the breach
      promptly upon the Receiving Party’s discovery of the
  breach.

	10.06 	
      Proprietary Rights - The Receiving Party
      acknowledges that the Confidential Information is a proprietary asset of
      the Disclosing Party and its affiliates and agrees that as between the
      Receiving Party and the Disclosing Party, the Disclosing Party will retain
      proprietary rights in the Confidential Information and the disclosure of
      such Confidential Information shall not be deemed to confer upon the
      Receiving Party any rights whatsoever in respect of any Confidential
      Information. 

	  	
       

	10.07 	
      Return of Confidential Information - Upon the
      request of the Disclosing Party, the Receiving Party and its
      Representatives will, at the Receiving Party’s own expense, promptly
      return all copies of the Confidential Information, except for that portion
      of the Confidential Information which consists of Derivative Information
      which will be destroyed and in the case of information stored in
      electronic form, it will be permanently erased. Notwithstanding the return
      or destruction of the Confidential Information, the Receiving Party and
      its Representatives shall continue to be bound by the confidentiality and
      other obligations hereunder. 

	  	
       

	10.08 	
      No Representation – Although the Disclosing Party
      will endeavour to include in the Confidential Information data which the
      Disclosing Party believes to be reliable and relevant for the purpose of
      evaluating the Business, the Receiving Party acknowledges that the
      Disclosing Party makes no representation or warranty as to the accuracy or
      completeness of the Confidential Information. The Receiving Party also
      agrees that neither the Disclosing Party nor its Representatives shall
      have any liability, direct or indirect, to the Receiving Party as a result
      of errors in, omissions from or the use of Confidential Information by the
      Receiving Party or its Representatives. 

	  	
       

	10.09 	
      Required Disclosure − In the event that the
      Receiving Party or any of its Representatives become legally compelled or
      are required by regulatory authorities having appropriate jurisdiction to
      disclose any of the Confidential Information, the Receiving Party will
      promptly provide the Disclosing Party with written notice so that the
      Disclosing Party may seek a protective order or other appropriate remedy
      and/or waive compliance with the provisions of this Agreement. The
      Receiving Party will cooperate with the Disclosing Party on a commercially
      reasonable basis to obtain a protective order or other remedy. In the
      event that such protective order or other remedy is not obtained before
      the Receiving Party or its Representatives become compelled or required to
      disclose as aforesaid, or the Disclosing Party waives compliance with the
      provisions of this Agreement, the Receiving Party will furnish only that
      portion of the Confidential Information which is legally required to be
      disclosed and will exercise all commercially reasonable efforts to obtain
      reasonable assurance that confidential treatment will be accorded the
      Confidential Information so furnished. 

	  	
       

	10.10 	
      Acknowledgement – The Parties acknowledge that
      access by it or its Representatives to the confidential information may
      provide such party with material confidential information concerning Newco
      or either of the Parties or its affiliates which has not been publicly
      disclosed. Accordingly, each party may be subject to applicable securities
      laws, including the securities laws in Canada and the USA, which would
      restrict its ability to trade in any of either the Parties’ or any of its
      affiliates, subsidiaries’ and parent company’s securities. This agreement
      does not represent a commitment on the part of either party hereto to
      purchase the products or services of the other party nor a commitment to
      enter into any business venture with the other party nor an encouragement
      to expend funds in the development of any products or services. Further,
      this agreement does not in any way prevent or constrain either party’s use
      of any other provider of, or either party’s current or future development
      of, products or services similar to the products or services provided by
      the other party hereto or the products or services which are the subject
      of the discussions anticipated by this agreement.

	10.11 	
      Certain Definitions − In this Agreement, the term
      “affiliate” shall mean a person directly or indirectly controlling, or
      controlled by, or under common control with, the Receiving Party or the
      Disclosing Party, as the case may be, with “control” meaning the
      possession, directly or indirectly or as trustee or executor, of the power
      to direct or cause the direction of the affairs or management of a person,
      whether through the ownership of voting securities, as trustee or
      executor, by contract or otherwise. The term “person” shall mean an
      individual, corporation, partnership, limited partnership, limited
      liability company, joint venture, estate, association, trust,
      unincorporated organization, or other entity of any kind or
  nature.

	 	 
	12. 	
      Governing Law − This Agreement shall be governed
      by and construed in accordance with the laws of the Province of British
      Columbia and the federal laws of Canada applicable in the Province of
      British Columbia.

	 	 
	13. 	
      Non-Waiver − No failure or delay by either party,
      as the case may be, in exercising any right, power or privilege under this
      Agreement will operate as a waiver thereof unless such right, power or
      privilege expires by the terms of this Agreement, nor will any single or
      partial exercise preclude any other or further exercise of any right,
      power or privilege under this Agreement.

	 	 
	14. 	
      Injunctive Relief − The parties acknowledge that
      disclosure of the Confidential Information or other breach of this
      Agreement would cause serious and irreparable damage and harm, and that
      remedies at law would be inadequate to protect against breach of this
      Agreement, and agree in advance to the granting of injunctive relief in
      each other’s favour for any breach of the provisions of this Agreement and
      to the specific enforcement of the terms of this Agreement, without proof
      of actual damages, and without the requirement to post a bond or other
      security, in addition to any other remedy to which the parties would be
      entitled.

	 	 
	15. 	
      Term − The parties acknowledge that the
      confidentiality and non-use obligations in this Agreement pertaining to
      Confidential Information shall persist for so long as this Agreement is in
      effect, and also survive any termination or expiration of this Agreement
      for a period of two (2) years after disclosure by the Disclosing Party to
      the Receiving Party.

	 	 
	11. 	
      BUY-SELL PROCEDURE

	 	 
	11.01 	
      If either of the Parties is desirous of selling all or
      any part of its Ownership Interest in Newco (the “Selling Party”),
      then it must first offer such Ownership Interest to the other Party before
      offering such Ownership Interest to any third party. The Selling Party
      (hereinafter referred to as the "Offeror") shall give to the other
      party (hereinafter referred to as the "Offeree") notice in writing
      which shall contain the following terms and
provisions:

	 	(a) 	
      the price for the Ownership Interest to be
sold;

	 	 	 
	 	(b) 	
      an offer to buy all of the Ownership Interest owned by
      the Offeree at a fixed price per percentage point of ownership (the
      “Sale Price”) determined solely by the Offeror;

	 	 	 
	 	(c) 	
      an offer to sell all of the Ownership Interest owned by
      the Offeror to the Offeree at the same Sale Price determined solely by the
      Offeror; and

	 	 	 
	 	(d) 	
      payment of an amount equal to the total purchase price by
      certified cheque or any other valuable consideration agreeable to both
      Parties on closing.

	11.02 	
      Upon receipt of the notice, the Offeree may, within a
      period of 30 days thereafter, accept either one of the offers contained in
      the notice and shall give written notification to the Offeror accepting
      either the Offeror's offer to purchase or the Offeror's offer to sell as
      contained in the notice.

	 	 
	11.03 	
      The individual parties hereto agree that failure to
      accept within the time limited as aforesaid shall be for all intent and
      purposes be deemed to have been a rejection of the Offeror's offer to
      purchase in the same manner as if the Offeree had, in fact, rejected such
      offer to purchase by notice in writing. The appropriate offer in
      accordance with the foregoing and acceptance thereof by either notice in
      writing or the failure of the Offeree to accept the same shall be deemed
      to constitute a binding agreement of purchase and sale as set out in the
      Offeror's notice and in the terms and provisions of this Agreement. The
      transaction or transactions of purchase and sale arising from the
      foregoing shall be completed within 60 days after acceptance.

	 	 
	11.04 	
      In the event of a sale of an Ownership Interest in Newco
      as herein provided for, the party selling shall in this Section be
      referred to as the "Seller" and the party purchasing shall in this
      Section be referred to as the "Purchaser", and the following
      additional provisions shall apply:

	 	(a) 	
      the date scheduled for closing (the “Sale of Ownership
      Closing") may be at any earlier date agreed to and fixed by the
      individual parties hereto;

	 	 	 
	 	(b) 	
      any amount payable under the agreement of purchase and
      sale or other agreed transaction shall be paid by of certified cheque or
      as otherwise acceptable to both Parties;

	 	 	 
	 	(c) 	
      if, upon the date set for the Sale of Ownership Closing,
      the Parties shall be indebted to the Seller in an amount recorded on the
      books of the Parties and verified by the auditors/accountants of the
      Parties, such indebtedness shall be paid to the Seller by the Parties at
      the time of the Sale of Ownership Closing;

	 	 	 
	 	(d) 	
      if, upon the date set for the Sale of Ownership Closing,
      the Seller shall be indebted to the Parties in an amount so recorded and
      verified, the Purchaser shall be entitled under the purchase price to pay,
      satisfy and discharge all or any portion of such indebtedness and to
      receive and to take credit against the purchase for the amount or amounts
      so paid on account of such indebtedness;

	 	 	 
	 	(e) 	
      if, on the date of the Sale of Ownership Closing, the
      Seller is responsible on any covenant for the liabilities of Business the
      Purchaser shall procure for the Seller and deliver at the time of closing
      releases from any such covenants or guarantees or, failing that, shall
      indemnify the Seller from any claim, action, demand or liability that may
      arise by reason of such covenants or guarantees;

	 	 	 
	 	(f) 	
      if, on the date of the Sale of Ownership Closing, the
      Seller shall have any securities lodged with any person, including the
      Parties' bankers, to secure any indebtedness of the Parties, then the
      Purchaser shall deliver the same free and clear of any claims in
      connection with such indebtedness to the Seller. In the event the
      Purchaser is unable to deliver the same, then the Purchaser shall execute
      all such documents as may be reasonably required in order to indemnify and
      save harmless the Seller in relation thereto;

	 	 	 
	 	(g) 	
      if, on the date of the Sale of Ownership Closing, the
      Seller shall, for any reason, fail or refuse to complete the transaction, the Purchaser shall have
the right upon such default without prejudice to any other rights which the
Purchaser may have, upon payment by the Purchaser of the balance due on closing
(less or plus any adjustment herein permitted) to the credit of the Seller in
any chartered bank in the Province of British Columbia or the solicitors for the
Business on behalf of and in the name of the Seller to complete the transaction
as aforesaid and the Seller hereby irrevocably constitutes the Purchaser the
true and lawful attorney of the Seller to complete the transaction and to
execute any and every document necessary in that behalf; 

	 	(h) 	
      between the date of any offer and the date of the Sale of
      Ownership Closing of any ensuing transaction neither the Seller nor the
      Purchaser shall do or cause to be done anything except in the ordinary
      course of business;

	 	 	 
	 	(i) 	
      notwithstanding any term or provision of this Agreement
      to the contrary, once any of the sale provisions hereinbefore referred to
      are invoked or become operative pursuant to the provisions of this
      Agreement, no other offer or notice of sale or intention to sell shall be
      given or accepted until the Sale of Ownership Closing or termination of
      the ensuing transaction.

	11.05 	
      In the event that no transaction is completed via the
      provisions of Sections 11.01 through 11.04, above, then the Selling Party
      is permitted to offer all or any part of its Ownership Interest to any
      third party. In the event that the Selling Party reaches any agreement,
      letter of intent or similar to sell all or any part of its Ownership
      Interests (the “Intent to Purchase”), AND in the event that any
      price, term, or condition of such Intent to Purchase differs from the
      offer may under Section 11.01, above, then all the provisions of Sections
      11.01 through 11.04 must be offered by the Selling Party to the Offeree
      PRIOR to the Selling Party completing its proposed sale transaction with
      the third party.

	 	 
	12. 	
      GENERAL PROVISIONS

	 	 
	12.01 	
      This Agreement shall
terminate:

	 	(a) 	
      The Parties, acting together, collectively sell the
      Business after which this Agreement will cease to have any effect or be
      binding upon the parties except in respect of the resolution of the rights
      and obligations of the parties during the period prior to such sale and
      the payment of all monies between the parties arising as a result;
    or

	 	 	 
	 	(b) 	
      if the Parties hereto consent in writing to the
      termination hereof.

12.02      NeutriSci and Lexaria shall
execute such further assurances and other documents and instruments and do such
further and other things as may be necessary to implement and carry out the
intent of this Agreement. 

12.03      The provisions herein
constitute the entire agreement between the Parties and supersedes all previous
expectations, understandings, communications, representations and agreements,
whether verbal or written, including the MOU, between the Parties with respect
to the subject matter hereof. 

12.04      If any provision of this
Agreement is unenforceable or invalid for any reason whatever, it shall not
affect the enforceability or validity of the remaining provisions of this
Agreement and such provision shall be severable from the remainder of this Agreement. 

12.05      Any notice required to be
given hereunder by any party shall be deemed to have been well and sufficiently
given if mailed by prepaid registered mail return receipt requested, courier
service or by electronic communication, capable of producing a printed
transmission to or delivered at the address of the other party first written
above or at such other address as any of the parties may from time to time
direct in writing, and any such notice shall be deemed to have been received, if
mailed or couriered, forty-eight hours after the time of mailing or if sent by
electronic communication on the date of such communication. If normal mail
service or courier service is interrupted by strike, slow down, force majeure or
other cause, a notice sent by the impaired means of communication will not be
deemed to be received until actually received, and the party sending the notice
shall utilize any other such services which have not been so interrupted or
shall deliver such notice in order to ensure prompt receipt thereof. 

12.06      Time shall be of the
essence hereof. 

12.07      This Agreement shall be
governed by and construed in accordance with the laws in force in the Province
of British Columbia from time to time. 

12.08      Each of NeutriSci and
Lexaria shall make, do and execute or cause to be made, done or executed all
such further things, acts, documents, conveyances and assurances as may be
necessary or reasonably required to carry out the intent and purpose of this
Agreement fully and effectually. 

12.09      This Agreement shall enure
to the benefit of and be binding upon the Parties and their respective personal
representatives, successors and permitted assigns. 

12.10      This Agreement may be
signed by facsimile, email, or original, and executed in any number of
counterparts, and each executed counterpart will be considered to be an
original. All executed counterparts taken together will constitute one
agreement 

-Signature Page Follows- 

IN WITNESS WHEREOF the parties have executed this
Agreement as of the day and year first above written. 

	NEUTRISCI INTERNATIONAL CORP. 	 
	 	 
	 	 
	Per:		 
	Authorized Signatory 	 
	 	 
	 	 
	 	 
	LEXARIA BIOSCIENCE CORP. 	 
	 	 
	 	 
	Per:		 
	Authorized Signatory 	 

SCHEDULE "A" 

Form of Articles of Newco 

SCHEDULE "B" 

List of Lexaria IP and Knowhow

Lexaria Owned Trademarks: 

	  	Application 	  	  
	TurboTHC 	1822307 	Feb 10, 2017 	USA#87256120 
	TurboCBD 	1822307 	Feb 10, 2017 	USA#87142224 
	ViPova 	Pending.... 	  	  

Lexaria Patent Information: 

		 	Application 	Application Filing 	Attorney Docket 	Issued 	Issuance 
	No. 	Application# 	Type 	Date 	# 	Patent# 	Date 
	 	 	US 	 	 	 	 
	1 	62/010,601 	Provisional 	06/11/2014 	007341-001PV1 	 	 
	 	 	US 	 	 	 	 
	2 	62/037,706 	Provisional 	08-15-2014 	007341-001PV2 	 	 
	 	 	US 	 	 	 	 
	3 	62/153,835 	Provisional 	04-28-2015 	007341-001PV3 	 	 
	 	 	US 	 	 	 	 
	4 	62/161,324 	Provisional 	05-14-2015 	007341-001PV4 	 	 
	5 	14/735,844 	US Utility 	06/10/2015 	007341-001US1 	9,474,725 	10-25-2016 
	 	 	US 	 	 	 	 
	6 	15/225,799 	Continuation 	08/01/2016 	007341-001US2 	 	 
	 	 	US 	 	 	 	 
	7 	15/225,802 	Continuation 	08/01/2016 	007341-001US3 	 	 
	 	 	PCT 	 	 	 	 
	8 	PCT/US15/35128 	International 	06/10/2015 	007341-001WO1 	 	 
	 	 	Australia 	 	 	 	 
	9 	2015274698 	National 	06/10/2015 	007341-001AU1 	Pending 	06/02/2017 
	 	 	Australia 	 	 	 	 
	10 	To Be Filed 	Divisional 	06/10/2015 	007341-001AU2 	 	 
	 	 	Canada 	 	 	 	 
	11 	2949369 	National 	06/10/2015 	007341-001CA1 	 	 
	 	 	China 	 	 	 	 
	12 	201580031524.X 	National 	06/10/2015 	007341-001CN1 	 	 

	 	 	Europe 	 	 	 	 
	13 	15806768.6 	National 	06/10/2015 	007341-001EP1 	 	 
	 	 	India 	 	 	 	 
	14 	201647041745.00 	National 	06/10/2015 	007341-001IN1 	 	 
	 	 	Japan 	 	 	 	 
	15 	516371405 	National 	06/10/2015 	007341-001JP1 	 	 
	 	 	US 	 	 	 	 
	16 	62/264,959 	Provisional 	12/09/2015 	007341-002PV1 	 	 
	 	 	PCT 	 	 	 	 
	17 	PCT/US16/64295 	International 	12/01/2016 	007341-002WO1 	 	 
	 	 	US 	 	 	 	 
	18 	62/264,967 	Provisional 	12/09/2015 	007341-003PV1 	 	 
	 	 	PCT 	 	 	 	 
	19 	PCT/US16/64296 	International 	12/01/2016 	007341-003WO1 	 	 
	 	 	US 	 	 	 	 
	20 	In Preparation 	Provisional 	 	007341-004PV1 	 	 

SCHEDULE "C" 

List of Neutrisci IP and Knowhow 

Pteropure: 

	 	- 	Pterostilbene Patents - List of numbers
  

	 	o 	8,133,917 
	 	o 	8,252,845 
	 	o 	USSN 12/136,341 (US 2009/0069444 A1) 
	 	o 	PCT/IN2009/000313 (WO 2010/010578 A2) 
	 	o 	USSN 13/105,470 
	 	o 	US 61/484,977 
	 	o 	US 61/535,143 
	 	o 	US 61/570,048 

	 	- 	International Filing and Issued Patents 
	 	  	PCT 
	 	  	PCT/US2012/064933 
	 	  	Korea 
	 	  	10-2012-7013257 
	 	  	Mexico 
	 	  	2012/005013 
	 	  	Russia 
	 	  	2012 122241 
	 	  	EU 
	 	  	5774387.4 
	 	  	10775793.2 
	 	  	Canada 
	 	  	2778151 
	 	  	China 
	 	  	201080048865.5 
	 	  	Israel 
	 	  	219318 
	 	  	Japan 
	 	  	2012-535862 

Purenergy: 

	 	- 	Purenergy Patents – List of Numbers
  

	 	o 	8,399,712 

Nicotinamide Riboside (NR): 

	 	- 	NR Patents – List of Numbers

	 	o 	8,106,184 
	 	o 	8,114,626 

	 	o 	8.197,807 
	 	o 	8,383,086 
	 	o 	7,776,326 

Trademarks: 

	 	- 	Canadian Trademarks – List of Numbers
  

	 	o 	TMA961,065 
	 	o 	TMA961,066 
	 	o 	TMA942,093 
	 	o 	TMA950,267 
	 	o 	TMA942,104 
	 	o 	TMA941,719 

	 	- 	United States Trademarks – List of Numbers
  

	 	o 	5,067,059 

Industrial Design: 

	 	- 	Industrial Design – List of Numbers
  

	 	o 	164890Lexaria Bioscience Corp.: Exhibit 10.10 - Filed by newsfilecorp.com

MANAGEMENT SERVICES AGREEMENT 

THIS AGREEMENT dated for reference the 1st
day of December 2016. 

BETWEEN:

	
      Lexaria Bioscience Corp.., a company duly
      incorporated under the laws of the Province of British Columbia and having
      its office at 156 Valleyview Rd, Kelowna BC Canada V1X 3M4 

	 
	(hereinafter referred to as the “Company”)

OF THE FIRST PART 

AND 

	CAB Financial Services Ltd of 1924 Birkdale Avenue,
      Kelowna British Columbia, V1P 1R7 
	 
	(hereinafter referred to as "CAB")

WHEREAS:

	A. 	
      The Company wishes to employ CAB as its Chief Executive
      Officer and to provide management Services to it on the terms and
      conditions hereinafter set forth.

	 	 
	B. 	
      CAB has agreed to provide the Services to the Company on
      the terms and conditions set out in this Agreement. This Agreement dated
      December 1, 2016, supersedes previous agreements dated November 27, 2008
      and December 1, 2014.

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of
the premises and of the covenants and agreements hereinafter contained the
parties hereto have agreed as follows: 

	1. 	
      ENGAGEMENT OF SERVICES

	 	 
	1.1. 	
      The Company hereby engages CAB to provide management
      Services as an independent contractor to the Company under the direction
      of the Company’s Board of Directors; and

	 	 
	1.2. 	
      CAB hereby agrees to perform the following duties
      required of him in accordance with the terms of this agreement
    namely:

	 	(a) 	
      Co-manage with the President the development and
      expansion of the Company’s new and existing product pipeline based on its
      current proprietary technologies, and implementing new technologies as
      they become available;

	 	 	 
	 	(b) 	
      Collaborate to maintain and develop the Company’s
      corporate/investor outreach materials as needed including overall
      corporate messaging through direct creation and development of corporate
      presentations, powerpoints, websites, shareholder and community
      communications, business plans, fact sheets, etc;

	 	 	 
	 	(c) 	
      Identify and evaluate opportunities for capital raising
      and/or strategic collaboration with suitable third-parties at appropriate
      points in time for the Company, including research, plan, propose, execute
      and close approved projects, acquisitions, mergers and partnerships, as
      well as locate and cultivate finance sources, all of which create value
      for the Company;

- 1 - 

	 	(d) 	
      Co-Manage with the President, PoViva Tea, (a 51%-owned US
      subsidiary of Lexaria Corp) regarding PoViva’s operations and assist in
      the management and execution of its development including evaluating and
      implementing supply chain efficiencies and facilitating distribution and
      sales growth across all ViPova product lines;

	 	 	 
	 	(e) 	
      Co-Manage with the President, Lexaria CanPharm Corp (a
      100% owned Canadian subsidiary of Lexaria Corp) employees, junior
      executives and CABs in their regular needs and duties; and day-to-day
      operations that are currently focused on business pursuits within
      Canada.

	 	(f) 	
      Temporarily fulfill the role of the CFO, to evaluate,
      manage and communicate with various state, provincial and federal
      regulatory bodies that have oversight of the company, this role to end at
      such time as an appropriate new CFO is located;

	 	 	 
	 	(g) 	
      General Services. CAB shall serve the Company (and/or
      such subsidiary or subsidiaries of the company as the Company may from
      time to time require) in such consulting capacity or capacities as may
      from time to time be determined by resolution of the Board of Directors or
      senior management of the Company and shall perform such duties and
      exercise such powers as may from time be determined by resolution of the
      Board of Directors, as an independent contractor. CAB will work as needed
      with lawyers, partners, shareholders and other stakeholders as required by
      the Company.. CAB shall fulfill all duties expected of a chief executive
      officer of a biotechnology/bioscience company, including sourcing and/or
      negotiation of financial proposals and corporate financings; strategic
      corporate and financial planning; management of all the overall business
      operations; communications with shareholders; negotiation and management
      of agreements; and any other duties that should be reasonably expected by
      and at the pleasure of the Board of Directors (together with all other
      items within Section 1.2, the “Services”).

	2. 	
      TERM

	2.1. 	
      The initial term of this Agreement shall be for a period
      of two (2) years, commencing as of the 1st day of December 2016 and
      continuing month to month thereafter with all terms in effect unless and
      until terminated as hereinafter provided.

	3. 	
      SERVICES

	3.1 	
      CAB agrees to perform the Services contracted hereunder
      including the following:

	 	(a) 	
      to carry out all functions associated with the Services
      to the best of his skill and ability for the benefit of the
  Company;

	 	 	 
	 	(b) 	
      to carry out the Services in a timely manner;

	 	 	 
	 	(c) 	
      to act, at all times during the term of this Agreement,
      in the best interests of the Company; and

- 2 - 

	 	(d) 	
      to use his best endeavors to preserve the goodwill and
      reputation of the Company and the relationship between the Company and its
      shareholders.

	4. 	
      REMUNERATION

	4.1. 	
      The Company shall pay to CAB for all Services rendered
      hereunder:

	 	 
	4.2. 	
      the sum of Twelve Thousand US Dollars ($12,000.00) per
      month, plus GST, payable on the 1st day of each month (the “ Monthly
      Fee”);

	 	 
	4.3. 	
      CAB’s out of pocket expenses incurred on behalf of the
      Company. In respect of expenses, CAB shall provide statements and vouchers
      to the Company as and when required by it.

	 	 
	4.4. 	
      CAB will be entitled to receive a performance related
      bonus on the same terms and conditions as for persons participating in any
      bonus plan that may be established and approved by the Company’s board of
      Directors. Any bonus payable to CAB will be at the sole discretion of the
      Company’s Board of Directors, acting reasonably.

	 	 
	4.5. 	
      CAB is also eligible to participate in the as-yet
      uncreated Lexaria profit sharing plan that will be extended as soon as
      possible to all employees and managerial CABs, provided he is a contracted
      CAB when this anticipated profit sharing plan goes effective.

	 	 
	4.6. 	
      During the first twelve (12) months after signing; for
      combined Lexaria Energy and ViPova products and including all combined
      sales efforts and/or technology licensing revenues, achieving
      non-refundable revenues of US$200,000 to any single customer in any
      consecutive 60-day period would result in a restricted common share award
      of 100,000 Company shares; and, after the first twelve (12) months after
      signing and expiring twenty- four (24) months after signing; for combined
      Lexaria Energy and ViPova products and including all sales efforts,
      achieving non-refundable revenues of US$200,000 to any single customer in
      any consecutive 60-day period would result in a restricted common share
      award of 50,000 Company shares; this clause limited to one payment per
      customer during the 24-month period, but payable on each customer that
      meets these sales/licensing thresholds;

	 	 
	4.7. 	
      During the first twelve (12) months after signing; for
      combined Lexaria Energy and ViPova products and including all combined
      sales efforts and/or technology licensing revenues, achieving
      non-refundable revenues of US$500,000 in any fiscal quarter would result
      in a restricted common share award of 200,000 Company shares; and, after
      the first twelve (12) months after signing and expiring twenty-four (24)
      months after signing; for combined Lexaria Energy and ViPova products and
      including all sales efforts, achieving non- refundable revenues of
      US$500,000 in any fiscal quarter would result in a restricted common share
      award of 100,000 Company shares; this clause limited to one payment per
      fiscal quarter;

	 	 
	4.8. 	
      During the time this Agreement remains in effect, for
      each new provisional patent application substantially devised by CAB and
      successfully created, written and filed with the US Patent Office for
      Company-owned intellectual property, a restricted common share award of
      250,000 Company shares, this clause not limited to frequency of payment
      but each patent application to be approved by the Board of Directors of
  the Company, in advance; 

- 3 - 

	4.9. 	
      Sections 4.6, 4.7, and 4.8, above, collectively or
      individually, are defined as “Milestone
Payments”.

If so requested by CAB and through calculation with and CAB’s
approval at the time of any and each award, all restricted common share awards
mentioned in this Agreement shall be subject to a reduction in the number of
restricted common shares issued to CAB per grant to be paid instead as cash
proportional to the tax liability to be incurred by CAB at the time of the
award. The Company would withhold from payment to CAB that fraction of
restricted common shares in each of the paragraphs in Section 3, above, that
would correspond with the federal and provincial income tax payments otherwise
payable by CAB specifically with respect to each award only, and CAB agrees that
such a hybrid payment of cash and restricted common shares would fulfill the
obligations of the Company with respect to each affected award. The intent of
this partial cash payment would be to provide cash compensation to CAB in the
proportionate amount of each restricted common share award and it is expressly
agreed that it remains the sole responsibility of CAB to remit all amounts due
to Provincial and Federal tax authorities. This provision does not conflict with
nor negate the validity of Section4.6, 4.7, or 4.8. 

	5. 	
      TERMINATION

	5.1. 	
      This Agreement may be terminated by either party at any
      time by two (2) months notice in advance, in writing given by CAB to the
      Company, or by the Company to CAB.

	 	 
	5.2. 	
      The Company may terminate this Agreement at any time,
      without further obligation to CAB if:

	 	(a) 	
      CAB breaches any of the terms and conditions of this
      Agreement;

	 	 	 
	 	(b) 	
      The Company provides a lump sum termination break fee
      payment to CAB in the amount equal to 12 times the Monthly Fee plus
      GST.

	5.3. 	
      If this Agreement is terminated by either party or any
      successor company or person, within 90 days of a Change of Control,
      excluding termination under section 5.2(a) herein, CAB shall receive the
      payment under section 5.2.(b), plus an additional payment in the amount
      equal to 12 times the Fee. A “Change of Control” means the of any of the
      following events:

	 	(a) 	
      If any individual, partnership, company, society, or
      other legal entity (a ”Person”), alone or together with any other Persons
      with whom it is acting jointly or in concert, becomes the beneficial owner
      of, or acquires the power to exercise control or direction over, directly
      or indirectly, such securities (or securities convertible into, or
      exchangeable for, securities) entitled to more than fifty percent (50%) or
      more of the votes exercisable by holders of the then-outstanding
      securities generally entitled to vote for the election of directors
      (“Voting Stock”) of the company or if any Persons that previously were not
      acting jointly or in concert commence acting jointly or in concert and
      together beneficially own, or have the power to exercise control or
      direction over, securities entitled to more than fifty percent (50%) or
      more of the votes exercisable by holders of voting stock, nor have rights
of conversion which, if exercised, would permit such Persons to own or control
such a percentage of votes; 

- 4 - 

	 	(b) 	
      The Company is merged, amalgamated or consolidated into
      or with another Person and, as a result of such business combination,
      securities entitled to more than fifty percent (50%) of the votes,
      exercisable by holders of the Voting Stock of the Company or of such
      Person into which the Voting Stock of the Company is converted in or
      immediately after such transaction are held by a Person alone or together
      with any other persons with whom it is acting jointly or in concert and
      such Person, together with those with whom it is acting jointly or in
      concert, held securities representing less than fifty percent ;(50%) of
      the votes exercisable by the holders of the Voting Stock of the Company
      immediately prior to such transaction;

	 	 	 
	 	(c) 	
      The capital of the Company is reorganized and, as a
      result of such reorganization, securities entitled to more than fifty
      percent (50%) of the votes exercisable by the holders of the Voting Stock
      of the Company upon or immediately after such reorganization are held by a
      Person alone or together with any other Persons with whom it is acting
      jointly or in concert and such Person, together with those with whom it is
      acting jointly or in concert, held securities representing less than fifty
      percent (50%) of the votes exercisable by the holders of the Voting Stock
      of the Company immediately prior to such reorganization.

	 	 	 
	 	(d) 	
      The Company sells or otherwise transfers all or
      substantially all of its assets to another Person and immediately
      following such sale or transfer securities entitled to more than fifty
      percent (50%) of the votes exercisable by the holders of the Voting Stock
      of the acquiring Person are held by a Person that alone or together with
      any other Person or Persons with whom it is acting jointly or in concert,
      and such person, together with those with whom it is acting jointly or in
      concert, held securities representing less than fifty percent (50%) of the
      votes exercisable by holders of the Voting Stock of the Company
      immediately prior to such transaction; or

	 	 	 
	 	(e) 	
      During any period of two consecutive years, individuals
      (“Incumbent Directors”) who at the beginning of any such period constitute
      the directors of the Company cease for any reason to constitute at least a
      majority thereof. For the purposes of this clause
  (5.3.(e)):

	 	i. 	
      Each director who, during any such period, is elected or
      appointed as a director of the Company with the approval of at least a
      majority of the Incumbent Directors will be deemed to be an Incumbent
      Director;

	 	 	 
	 	ii. 	
      An “Incumbent Director” does not include a director,
      elected or appointed pursuant to an agreement (in respect of such election
      or appointment) with another Person that deals with the Company at arm’s
      length, or as part of or related to an amalgamation, a merger or a
      consolidation of the Company into or with another person, a reorganization
      of the capital of the Company or the acquisition of the Company as a
      result of which securities entitled to less than fifty (50%) percent of
      the votes exercisable by holders of the then-outstanding securities
      entitled to Voting Stock of the Company is converted on or immediately
      after such transaction are held in the aggregate by Persons who were
      holders of Voting Stock of the Company immediately prior to such
      transaction; and

	 	 	 
	 	iii. 	
      References to the Company shall include successors to the
      Company as a result of any amalgamation, merger, consolidation or
      reorganization of the Company into or with another body corporate or other
      legal Person.

- 5 - 

	6. 	
      NOTICE

	6.1. 	
      Any notice to be given under this Agreement shall be in
      writing and shall be deemed to have been given if delivered to, or sent by
      prepaid registered post addressed to, the respective addresses of the
      parties appearing on the first page of this Agreement (or to such other
      address as one party provides to the other in a notice given according to
      this paragraph). Where a notice is given by registered post it shall be
      conclusively deemed to be given and received on the fifth day after its
      deposit in a Canada post office any place in
Canada.

	7. 	
      TAXES

	7.1 	
      CAB shall be responsible for the payment of its income,
      capital gains and all other taxes and other remittances including but not
      limited to any form of insurance as shall be required by any governmental
      entity (including but not limited to health insurance and federal and
      state or provincial income taxes), though not including Director’s and
      Officer’s insurance which is paid for and provided by the Company, with
      respect to compensation paid by the Company to CAB, and nothing in this
      Agreement implies or creates a relationship of employment. CAB agrees to
      indemnify the Company for any tax, insurance or other remittance CAB fails
      to make and which the Company may be obligated to pay.

	8. 	
      MISCELLANEOUS

	 	 
	8.1 	
      This Agreement may not be assigned by either party
      without the prior written consent of the other.

	 	 
	8.2 	
      The titles of headings to the respective paragraphs of
      this agreement shall be regarded as having been used for reference and
      convenience only.

	 	 
	8.3 	
      This Agreement shall enure to the benefit of and be
      binding upon the parties hereto and their respective heirs, executors,
      administrators, successors and permitted assigns.

	 	 
	8.4 	
      This Agreement shall be governed by and interpreted in
      accordance with the laws of British Columbia, Canada.

	 	 
	8.5 	
      Expenses. CAB shall be reimbursed for all
      travelling and other expenses actually and properly incurred by it in
      connection with its duties hereunder, not including commuting to the
      office that is the normal place of business. For all such expenses CAB
      shall furnish to the Company statements, receipts and vouchers for such
      out-of-pocket expenses on a monthly basis. CAB is pre-authorized to
      incur up to $7,500 per month, cumulatively, in relevant expenses.
      Amounts over $7,500 per month must be pre-approved by management of
      the Company or will be disallowed. Both parties recognize that as the
      financial condition of the Company improves or deteriorates, this amount
      may be increased or decreased without making changes to this document,
      provided the Company makes CAB aware of the changed amount.

	 	 
	8.6 	
      CAB shall not, either during the continuance of its
      contract hereunder or at any time thereafter, disclose the private affairs
      of the Company and/or its subsidiary or subsidiaries, or any secrets
    or intellectual property of the Company (together or separately
and as described below, “Proprietary Information”) and/or its subsidiary
or subsidiaries, to any person other than the Directors of the Company and/or
its subsidiary or subsidiaries or for the Company's purposes and shall not
(either during the continuance of its contract hereunder or at any time
thereafter) use for its own purposes or for any purpose other than those of the
Company any information it may acquire in relation to the business and affairs
of the Company and/or its subsidiary or subsidiaries, unless required by
law.

- 6 - 

	8.7 	
      Proprietary Information as that term is used
      herein shall consist of the following:

	 	a) 	
      all knowledge, data and information which CAB may acquire
      from the documents and information disclosed to it by the Company, its
      employees, attorneys, consultants, independent contractors, clients or
      representatives whether orally, in written or electronic form or on
      electronic media including, by way of example and not by limitation, any
      products, customer lists, supplier lists, marketing techniques, technical
      processes, formulae, inventions or discoveries (whether patentable or
      not), innovations, suggestions, ideas, reports, data, patents, trade
      secrets and copyrights, made or developed by the Company and related data
      and information related to the conduct of the business of the
    Company.

	 	 	 
	 	b) 	
      Proprietary Information shall also include discussions
      with officers, directors, employees, independent contractors, attorneys,
      consultants, clients, finance sources, customers or representatives and
      the fact that such discussions are taking place.

	 	 	 
	 	c) 	
      Proprietary Information shall not be directly or
      indirectly disclosed to any other person without the prior written
      approval of the Company.

	 	 	 
	 	d) 	
      Proprietary Information may not be used during the period
      of this contract nor thereafter, for the betterment of any other
      commercial enterprise, company, project or person without the prior
      written approval of the Company.

	 	 	 
	 	e) 	
      Proprietary Information shall not include matters of
      general public knowledge, information legally received or obtained by CAB
      from a third party or parties without a duty of confidentiality, and
      information independently known or developed by CAB without the assistance
      of the Company.

	8.8 	
      CAB shall well and faithfully serve the Company or any
      subsidiary as aforesaid during the continuance of its contract hereunder
      and use its best efforts to promote the interests of the Company. At all
      times CAB will maintain a high degree of professionalism and integrity as
      would be expected in keeping with his senior executive role as President.
      CAB reserves the right to refuse any request from the Company which may,
      in his reasonable opinion, violate either Federal or State Laws in either
      the United States or Canada.

	 	 
	8.9 	
      This Agreement may be terminated forthwith by the Company
      or CAB without notice if either party breaches the Agreement. A breach may
      include, but is not limited to, the following:

	 	a) 	
      The Company or CAB shall commit any material breach of
      any of the provisions herein contained; or

	 	 	 
	 	b) 	
      The Company or CAB shall be guilty of any misconduct or
      neglect in the discharge of its duties hereunder; or

	 	 	 
	 	c) 	
      The Company or CAB shall become bankrupt or make any
      arrangements or composition with its creditors; or

	 	 	 
	 	d) 	
      CAB shall become of unsound mind or be declared
      incompetent to handle his own personal affairs; or

- 7 - 

	 	(e) 	
      The Company or CAB shall be convicted of any criminal
      offence other than an offence which, in the reasonable opinion of the
      Board of Directors of the Company, does not affect his/their position as a
      CAB or a director of the Company.

This Agreement may also be terminated by either party upon
sixty (60) days written notice to the other. Should the Company terminate this
agreement for a reason not enumerated in items 10(a), 8.9(b), 8.9(c), 8.9(d), or
8.9(e), CAB will be entitled to all Milestone Payments, as they relate to
transactions which were in process but had not yet closed at the date of his
termination, to which he would have otherwise been entitled for a period of 60
days after the date of his notice of termination. 

	
      8.10
      	
      In the event this Agreement is terminated by reason of
      default on the part of CAB or the written notice of the Company, then at
      the request of the Board of Directors of the Company, CAB shall forthwith
      resign any position or office which he then holds with the Company or any
      subsidiary of the Company. The provisions of Sections on Proprietary
      Information and on Confidentiality shall survive the termination or
      expiration of this Agreement. 

	
      
	
  

	
    8.10 	
      Upon Termination or expiration of this Agreement, for any
      reason, CAB shall do the following: CAB must return to Lexaria
      immediately, all correspondence, information, reports, emails, phone
      recordings or transcripts, notes, CAB contact information and all other
      materials related to the work performed for Lexaria including all
      Proprietary Information during the contract period.

	 	a) 	
      All such materials and information as referred to in
      Section 12, above, are the exclusive property of the Company. After
      returning, transmitting or otherwise sending such information to Lexaria,
      CAB must destroy any and all remaining copy (ies) or records of
    same.

	 	 	 
	 	b) 	
      All such materials and information as referred to in
      Section 12 were obtained during the time of the paid contract with
      Lexaria, and may not be shown, lent, given, discussed or in any way
      disclosed with or to any other party as per the terms of the contract. The
      Proprietary Information CAB gained or had access to during the period of
      the contract is the exclusive property of Lexaria Corp, and the provisions
      governing such proprietary information survives the termination of this
      Consulting Agreement.

	
      8.11 
	
      The Company is aware that CAB is independent and may have
      and may continue to have financial, management or business interests in
      other companies. The Company agrees that CAB may continue to devote time
      to such outside interests, provided that such interests do not conflict
      with or hinder CAB’s ability to perform his duties under this Agreement.
      

	
       
	
      

	
      8.12 
	
      The services to be performed by CAB pursuant hereto are
      personal in character, to be performed by Mr. Chris Bunka, and neither
      this Agreement nor any rights or benefits arising thereunder are
      assignable by CAB without the previous written consent of the Company.
    

	
       
	
      

	
      8.13 
	
      With the exception of any previously granted options or
      restricted stock, any and all previous agreements, written or oral,
      between the parties hereto or on their behalf relating to the agreement
      between CAB and the Company are hereby terminated and cancelled and each
      of the parties hereto hereby releases and forever discharges the other
      party hereto of and from all manner of actions, causes of action, claims
      and demands whatsoever under or in respect of any such previous
      agreements. 

	
       
	
      

	
      8.14 
	
      Any notice in writing or permitted to be given to CAB
      hereunder shall be sufficiently given if delivered to CAB personally or
      mailed by registered mail, postage prepaid, addressed to CAB at the
      address on the front of this Agreement. Provided any such notice is mailed
      via guaranteed overnight delivery, as aforesaid shall be deemed to have
      been received by CAB on the first business day following the date of mailing. Any notice in
writing required or permitted to be given to the Company hereunder shall be
given by registered mail, postage prepaid, addressed to the Company at the
address shown on page 1 hereof. Any such notice mailed as aforesaid shall be
deemed to have been received by the Company on the first business day following
the date of mailing provided such mailing is sent via guaranteed overnight
delivery. Any such address for the giving of notices hereunder may be changed by
notice in writing given hereunder. 

- 8 - 

	
      8.15 
	
      The provisions of this Agreement shall inure to the
      benefit of and be binding upon CAB and the successors and assigns of the
      Company. For this purpose, the terms "successors" and "assigns" shall
      include any person, firm or corporation or other entity which at any time,
      whether by merger, purchase or otherwise, shall acquire all or
      substantially all of the assets or business of the Company. 

	
       
	
      

	
      8.16 
	
      Every provision of this Agreement is intended to be
      severable. If any term or provision hereof is illegal or invalid for any
      reason whatsoever, such illegality or invalidity shall not affect the
      validity of the remainder of the provisions of this Agreement. 

	
       
	
      

	
      8.17 
	
      This Agreement is being delivered and is intended to be
      managed from the Province of British Columbia and shall be construed and
      enforced in accordance with, and the rights of the parties shall be
      governed by, the laws of such Province. Similarly no provision within this
      contract is deemed valid should it conflict with the current or future
      laws of the United States of America or current or future regulations set
      forth by the United States Securities and Exchange Commission, the British
      Columbia Securities Commission, or the Ontario Securities Commission. This
      Agreement may not be changed orally, but only by an instrument in writing
      signed by the party against whom or which enforcement of any waiver,
      change, modification or discharge is sought. 

	
       
	
      

	
      8.18 
	
      This Agreement and the obligations of the Company herein
      are subject to all applicable laws and regulations in force at the local,
      State, Province, and Federal levels in both Canada and the United States.
      In the event that there is an employment dispute between the Company and
      CAB, CAB agrees to allow it to be settled according to applicable Canadian
      law in an applicable British Columbia jurisdiction. 

	
       
	
      

	
      8.19 
	
      The securities referred to herein will not be or have not
      been registered under the United States Securities Act of 1933, as
      amended, and may not be offered or sold in the United States absent
      registration or an applicable exemption from registration requirements.
      Any and all potential or actual common share award or stock option awards
      will be in compliance with all applicable regulations in the USA and
      Canada. The securities issued will be subject to a hold period in Canada
      of not less than four months and one day, or for any resales possible into
      the USA under Rule 144, not less than six months and one day. Hold periods
      may be longer if regulations so stipulate. 

	
       
	
      

	
      8.20 
	
      This contract will expire on December 1, 2018 unless
      renewed or extended by mutual written consent of both parties prior to
      that date and can further serve as a month-to-month agreement after that
      date if both parties so agree at that time. 

	
       
	
      

	
      8.21 
	
      CAB understands and agrees that his name and likeness
      will be announced and widely circulated with regards to his executive role
      with the Company. His name will be disseminated through such avenues as
      press releases, websites, or other media; and in personal meetings and
      appearances and public events. CAB understands that as a publicly traded
      entity, the Company has certain transparency obligations to its
      shareholders, stock exchanges, and other regulatory bodies, and has legal
      obligations to disclose CAB’s initial and ongoing relationship with the
      Company during the normal course of business.. 

- 9 - 

IN WITNESS WHEREOF the parties have executed this
Agreement the day and year first above written. 

	  	 	) 	 	 
	Lexaria Bioscience Corp: 	 	) 	 	 
	  	 	) 	 	 
	  	 	) 	 	 
	 	 	) 	 	 
	Authorized Signatory 	 	) 	 	 
	  	 	) 	 	 
	  	 	  	 	 
	  	 	  	 	 
	  	 	  	 	 
	  	 	  	 	 
	  	 	) 	 	 
	Signed in the presence of: 	 	) 	 	 
	  	 	) 	 	 
	  	 	  	 	 
	  	 	  	 	 
	  	 	  	 	 
	  	 	  	 	 
	  	 	) 		 
	Name 	 	) 	CAB Financial Services Ltd 	 
	  	 	) 	(Chris Bunka) 	 
	Address 	 	) 	 	 
	  	 	) 	 	 
	  	 	) 	 	 
	  	 	) 	 	 

- 10 -

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