Document:

Exhibit 10.9

 

December 3. 2020

 

Greg Rochlin

Via Email

 

Dear Greg.

 

TerrAscend Corp. is pleased to extend your offer
as Chief Executive Officer of Terrascend East Coast Region reporting to Jason Ackerman. Executive Chairman and CEO of TerrAscend Corp.
This position is a full-time, exempt-level position which commenced on or about November 2019 at one of TerrAscend’s east coast
locations and shall be in effect at least until January 1, 2024 (3 additional years).

 

Your responsibilities and duties are to be continued
in the same manner as they have been performed at Ilera. You arc expected to have additional responsibilities throughout TerraAscend’s
US operations to lead all business activities that are located in US, east of the Mississippi River (the “East Coast Operations”),
or other added or reduced responsibilities mutually agreed by you and Jason Ackerman:

 

Base Compensation

 

Your base compensation will be $20,833.33 per
semi-monthly pay period ($500,000 if annualized). Your position is classified1 as exempt under the federal and state wage and
hour laws, meaning that you will not be eligible for overtime pay in connection with your employment. You will be paid in accordance with
the Company’s standard payroll schedule and practices, including compliance with mandatory and authorized withholding and deductions.
Future salary progression, if any, is discretionary.

 

Bonus Compensation

 

It is our understanding that llera
Pennsylvania business currently has a bonus program for the CEO for 2019 and 2020 which shall remain in place through the term of
this agreement and be funded by llera. Such bonus plan available to you is equal to 2% of llera Pennsylvania EBITDA for each calendar
year with such bonus having an EBITDA Cap of S100 million (maximum of a $2 million bonus) and amounts earned of EBITDA between $75m
to $100m shall be payable as company RSU’s at the end of the annual audit cycle, and amounts up to $75 million is payable in
cash quarterly. For clarification, only EBITDA for Pennsylvania shall be included in the bonus calculation. In order to receive a
bonus payment (or any portion thereof), you must be a current employee of the Company In good standing through the later of 12/15 of
such calendar year or the relevant calendar period for the bonus calculation. Such bonus will be paid quarterly 30 days after the
quarter end and closing of the book and 60 days after the year end to allow for final annual dosing. Once the cap on cash is hit,
remainder will be issued in RSU’s at the end of the annual cycle.

 

Stock Option Plan Participation

 

As additional compensation and subject to the
approval of the Board. You have been granted an additional 1,500,000 stock options, in accordance with the TerrAscend Stock Option Plan.

 

    Page 1 of 5

     

    

 

The exercise price per share will be equal to
the fair market value of the option on the date that it is granted. Stock options will vest in equal increments on Dec 31st
2021, Dec 31st 2022 and Dec 31st 2023, provided that you are employed by the Company.

 

Trading in TerrAscend Stock. TerrAscend has specific
rules with respect to trading in TerrAscend shares. Employee agrees to only purchase or sell TerrAscend stock in compliance with
such policies and procedures, which include black-out periods as set forth in the Company’s Insider Trading Policy

 

If there is any discrepancy between the brief
outline of the plan provided herein and the TerrAscend Stock Option Plan document, the Plan document will prevail, except to the extent
related to the required relationship with the Company for vesting.

 

Benefits

 

The Company is proud to offer a competitive group
benefits package. You and your eligible dependents may participate in all employee benefits generally available to other employees, subject
to the terms and availability of such benefits. Should you accept this offer of employment, detailed information about these benefits
and benefits enrollment instructions will be provided to you.

 

You will begin accruing Paid Time Off (“PTO”)
hours immediately upon employment. Paid Time Off accrues incrementally on a semi-monthly basis, up to a maximum accrual level of 4 weeks.
Such time IS not inclusive of the following paid holidays: New Year’s Day, President’s Day, Memorial Day, Independence
Day, Labor Day, Thanksgiving Day, and Christmas Day PTO eligibility, accrual and usage is subject to the Company’s Paid Time Oft
Policy PTO may be used for any purpose and will carry over up to a cap of 1.5x your annual allotment. Accrued but unused PTO will be paid
upon termination in accordance with applicable law

 

You will also be eligible for reimbursement of
reasonable business and travel expenses, included but not limited to: standard business development activities; cell phone usage; laptop/notebook
equipment; approved conferences/seminars; and approved professional development activities. These benefits are subject to TerrAscend’s
normal business expense accounting policies and procedures. For purposes of clarification of this section, you will be entitled to reimbursement
for up to $1,000 per week of extraordinary travel expenses.

 

At-Will Employment

 

Employment with the Company is considered “at
will.” This means that both the employee and the Company have a voluntary employment relationship. You may choose to terminate the
at-will employment relationship at any time upon two weeks’ advance notice, and the Company may do so immediately, for any reason,
with or without Cause.

 

     

     

    

 

Termination by the Company for Cause: The Company
Has the right, at any time, to terminate your employment under this Agreement for cause in which case you shall have no entitlement to
any notice or pay in lieu thereof including severance. For purposes of this Agreement, “Cause” shall mean: (i) A charge
by a law enforcement officer for, conviction of. or entrance into an admission, plea bargain, plea of no contest, or plea of nolo contendre
to, a felony of any kind, or a charge by a law enforcement officer for, conviction of, or entrance into an admission, plea bar gain, plea
of no contest, or plea of nolo contendre to a misdemeanor involving fraud, dishonesty or an act of moral turpitude, notwithstanding
the prior statement this would not apply to any a charge by a law enforcement officer, conviction of, or entrance into an admission, plea
bargain, plea of no contest, or ple3 of nolo contendre to, a felony of any kind, or a misdemeanor involving trade in cannabis;
(ii) the willful commitment of any act of dishonesty in connection with your employment with the Company, or other gross misconduct,
or gross incompetence or gross neglect of duty; (iii) material breach of this Agreement as determined by a court of competent Jurisdiction;
(iv) willful failure or refusal to materially comply (to the best of your ability) with any of the Company’s written policies
and procedures, Including the Company’s Standard Operating Procedures and Policies, or any specific lawful direction of the
Company provided that to the extent such refusal or failure is susceptible to cure, it is not fully, completely, and permanently cured
to the best of your ability within thirty (30) business days after notice by Company to you; or (v) the commitment of any act which
in the reasonable opinion of the Board of Directors is materially detrimental to the business or reputation of the Company or otherwise
materially prejudices the interests of the Company For purposes of this definition, no action or inaction will be considered ‘‘willful”
unless done or omitted to be done without good faith or without your reasonable belief that the action or omission was in the best interests
of the Company.

 

Severance

 

For the purpose of this Agreement, the term “Good
Reason” means the occurrence of any of the following events without your consent: (i) a significant reduction of your compensation;
or (ii) a material diminution of your authority, duties, or responsibilities.

 

In the absence of Cause, the Company may at its
sole discretion terminate your employment, or you may resign for Good Reason, and in such event the Company’s obligations shall,
upon your signing of s release for a termination without Cause, be:

 

(i)             to
provide you with monthly severance payment over the following six (6) months of Annual Salary. All payments are subject to applicable
payroll taxes and deductions (the “Severance Payment”).

 

(ii)            In
addition to the Severance Payment, your remaining unvested Options will immediately vest on a pro-rata basis based upon the number of
months worked since the grant compared to the 36-month total vesting period under the Options, subject to the terms of the TerrAscend
Corp SOP.

 

(iii)          The
Company will reimburse you for payments made to continue your health Insurance under COBRA for the same number of months as determines
your Severance Payment in (ii) above (so will be six months after the first full year of service).

 

In the event you are terminated by the
Company for Cause, or you resign your employment without a Good Reason, you will be paid your base compensation through your date of
termination, plus any accrued but unused PTO in accordance with applicable law. Aside from such payments, you will not be entitled
to receive any other payments or benefits from the Company unless required by law and all rights you may have under
TerrAscend’s Stock Option Plan, (except with regards to already vested options), Equity Incentive Plan or similar plans shall
terminate in accordance with their respective terms.

 

     

     

    

 

No one at the Company is authorized to verbally
alter the employment-at-will status of any individual. You also agree that the terms of this offer letter supersede any prior discussions
or documents relating to your potential employment at the Company.

 

Other Important Information

 

This offer of employment is contingent upon your
execution and submission of the both a Noncompetition and Non-Solicitation Agreement as well as a Non-Disclosure Inventions and Assignment
Agreement, which have already been executed.

 

This Agreement, for all purposes, shall be construed
in accordance with the laws of New York without regard to conflicts of law principles.

 

In order for this offer of employment to remain
valid, please do the following within three (3) business days of the date of this letter:

 

		 ̈	Read and sign this offer letter where indicated below.

 

		 ̈	Read and sign the documents attached.

 

		 ̈	Scan and email the completed, signed documents to me at: jhalligan@terrascend.com

 

Within three (3) business days of your employment
date, please be prepared to present acceptable documentation of your authorization to work in the United States, if you have questions
about this requirement, which applies to U.S. citizens and non-U.S. citizens alike, you may contact the undersigned.

 

We look forward to you joining the team at TerrAscend
and we wish you much success in your new position.

 

Sincerely,

 

TerrAscend USA Inc., its CEO

 

Jason Ackerman

Chief Executive Officer

 

Candidate Acceptance:

 

     

     

    

 

By my signature below. I hereby accept the offer
of employment with WDB Management PA LLC as outlined in this letter. I acknowledge and understand that employment with the company is
at will, and that nothing contained in this letter or in any of the attachments constitutes an employment contract or a guarantee of employment
for any definite period of time.

 

	/s/ Greg Rochlin	 	12/14/2020
	Signature	 	Date
signed
	 	 	 
	Greg Rochlin	 	 
	Printed Name	 	 

 

Attachments:

(1.) Anti-Harrassment Policy

 

		/s/
Jason Ackerman
	 	CFO
	 	 
	 	Jason Ackerman
	 	 
	 	12/4/2012
	 	 
	 	2020 /s/ GJR

 

     Page 5 of 5Exhibit 10.10

 

April
22, 2020

 

Keith Stauffer

 

Via e-mail

 

Dear Keith,

 

It is a pleasure to confirm our offer to employ
you in the joint role of Chief Financial Officer of TerrAscend USA, Inc. (the “Company”) and Chief Financial Officer
of TerrAscend Corp., the Canadian parent of the Company (“TerrAscend”). In these roles, you will be expected to report
to the CEO of TerrAscend. This agreement (the “Agreement”) shall set forth our mutual understanding regarding your
employment pursuant to the mutual covenants and agreements contained below (the receipt and adequacy of which are acknowledged).

 

1.            Definitions

 

The capitalized defined terms shall have the meanings
given to them in Schedule “A”.

 

2.            Transfer, Location, and Travel

 

Your principal place of employment is to be within
the New York area of the United States in your capacity with the Company. You will primarily work from a temporary office in the New York
area provided by the Company (until a permanent office is established), unless required to travel to other locations for business purposes.
You may also from time to time work from your home office.

 

As your role with the Company will also include
your position as the CFO of TerrAscend, you will be required to periodically travel to TerrAscend facility in Ontario and to other locations
as required. In further recognition of your role with TerrAscend, it is a condition of this offer and of your continued employment by
the Company that you be permitted to lawfully work in Canada and that you maintain your status to work in Canada throughout your employment.
The Company will assist you in applying for necessary immigration permits and will cover the costs associated therewith. In the event
that permits are not obtained, through no fault of your own, the terms of this agreement do not change.

 

3.            Compensation
and Tax Equalization

 

Inasmuch as your principal place of employment
will be the United States, your total compensation will be paid exclusively by the Company. You will receive an annual salary of USD $400,000
(the “Annual Salary”), less all withholdings and deductions in the US and in Canada, as required. In the event that your salary
increases during the course of your employment, your most current salary shall be deemed to be the Annual Salary for the purpose of this
Agreement. You understand and agree that the Annual Salary compensates you for all hours worked. Additionally, for business purposes and
the performance of your duties, the Company will provide you with a laptop. Your use of the laptop will be subject to and in accordance
with Company policies in effect from time to time. You will also be reimbursed for your cell phone use.

 

    

     

    

 

It is the Company’s policy to protect executives
on international secondment from loss on personal income taxes from Company-related earnings because of the secondment. The combined US
and Canadian tax liability of an executive can vary depending on factors such as level of income derived from each country of secondment,
amount of secondment allowances and the interplay of US and Canadian tax laws. To neutralize the income tax impact, the Company intends
to “tax equalize” your Company-related income.

 

		·	In general, the Company will be responsible for paying your actual US and Canadian taxes, while you will be responsible for paying
a “hypothetical tax.” “Hypothetical tax” represents the income tax you would have paid on Company-related income
had you not received secondment-related payments or special tax considerations as a result of the secondment.

 

		·	Income subject to hypothetical tax includes income you would have received had you not gone on secondment, such as your base pay and
annual bonus. Income not subject to hypothetical tax includes secondment-related allowances. US and Canadian taxes on amounts not subject
to hypothetical tax will be paid by the Company. Hypothetical tax is not remitted to the government.

 

		·	The Company shall, or shall retain an international accounting firm to, carry out the tax equalization policy. The Company or its
designated tax firm will calculate your hypothetical tax and the amount calculated will be deducted from your pay. When your tax return
is finalized, the Company or tax firm will calculate a final hypothetical tax, called a tax equalization. If the equalization shows that
excess hypothetical tax was withheld from your salary, then the Company will refund the excess amount to you. Conversely, you must repay
the Company any funds owed to the Company for any shortfall in your hypothetical tax withholding. In the case that there is a dispute
over such equalization, your qualified tax professional shall have the right to appeal such amount to the Company.

 

		·	The Company will pay or reimburse actual income tax costs associated with the secondment. Since the Company pays/reimburses you for
actual income taxes, refunds or foreign tax credits received by you will be taken into consideration on the annual tax equalization reconciliation
and you may be required to refund all or a portion of taxes paid by the Company.

 

Tax equalization of Company-related income means
that regardless of where you are seconded and regardless of the amount of tax actually owed, you will pay a hypothetical tax which will
be equivalent to the US tax you would have paid had you remained in the US.

 

4.            Annual
Bonus Plan

 

In connection with the services you are to render
exclusively on behalf of the Company within the US, you will have an annual bonus opportunity of 50% of annual salary, based on performance
review with the CEO. Such amount is payable at the Company’s option either in cash or RSU’s that will vest immediately upon
award. Bonus for the first year will be prorated for the first calendar year of time worked. The review and accrual periods are the calendar
year and the payment period is in February. You must be an employee in good standing of the Company at the payment period to be eligible
to receive the bonus payment.

 

    -2-

     

    

 

5.           
Annual LTI/RSU plan

 

In connection with the services you are to render
exclusively on behalf of the Company within the US, you will participate in the company’s Long Term Incentive plan (for purposes
of clarification, this is being set up during this calendar year). This program will provide an annual bonus opportunity of 100% of annual
salary in annual LTI grants that will vest equally over the three years post issuance and will be based on performance review with the
CEO. LTI Bonus for the first year will be prorated for the year of time worked. The grant date for LTI annual will generally be in February.
If this new plan is not established by any of the vesting dates the default will be cash payments at the originally planned vesting dates.
For example, if the first vesting date arrives with no RSU plan set up then cash payment of 1/3 of 100% of annual salary will be made
at the first vesting anniversary date and annually thereafter until such time that the RSU plan is established. In the event of a change
in control of TerrAscend Corp. (as defined in the Option Plan) that does not include Jason Wild or an affiliate thereof, 100% of the RSUs
will accelerate and vest immediately. In this circumstance, if the RSU plan is not yet established, a cash payment will be made equivalent
to accelerated vesting of 100% of the RSUs.

 

6.           Stock
Options

 

In connection with the services you are to render
exclusively on behalf of the Company within the US, the Company will also cause TerrAscend to issue to you a total of 1,000,000 employment
stock options of TerrAscend (the “Options”) in accordance with TerrAscend’s Stock Option Plan (the “Option Plan”).
Your Options will be granted at your commencement of employment date referenced in this agreement, and the grant will be at the exercise
price as determined by the rules and regulations of the applicable securities stock exchange after the date hereof It is understood that
300,000 of the options will be replaced with RSUs, subject to applicable securities laws, once the RSU program is put into place. The
vesting schedule of the newly granted RSUs will be equivalent to the original vesting dates of the originally granted options. If the
RSU program is not in place by the vesting dates a cash payment will be made on each vesting date equivalent to the value of what was
anticipated to be the RSUs.

 

		(a)	the Options will vest in equal increments on the 12-month, 24-month and 36-month anniversary date from start date of employment provided
that Employee remains an employed by the Company on each of the corresponding dates.

 

		(b)	In the event of a Change of Control of TerrAscend Corp. (as defined in the Option Plan) that does not include Jason Wild or an affiliate
thereof, 100% of the Options will accelerate and vest immediately. This provision supersedes all of the other provisions related to Change
of Control stipulated in the Option Plan.

 

    -3-

     

    

 

7.            Position and Key Responsibilities

 

Upon the execution of this Agreement, you will
assume the position of CFO of TerrAscend USA and CFO of TerrAscend. Your responsibilities as CFO include but are not limited to:

 

CFO of TerrAscend Corp.

 

		·	Ensure the Company produces high quality audited financial statements under IFRS on a timely basis

 

		·	Work with the audit committee to advise and execute policy and procedures for financial controls and risk management

 

		·	Provide monthly financial statements timely and accurately with all subsidiaries and consolidated for the parent company

 

		·	Establish strong accounting and control systems throughout the organization to support the business and its growth

 

		·	Manage the Investor Relationship function and work with the CEO on building analyst and investor relationships

 

		·	Manage the Information Technology function for the business

 

CFO of TerrAscend USA

 

		·	Providing strategic financial leadership by working with the CEO and other management to establish long-term goals, financial strategies,
plans and budgets.

 

		·	Plan, develop, organize, implement, direct and evaluate the organization’s fiscal function and performance.

 

		·	Manage Budgeting and Cash Forecasting to ensure the company has continuous line of site to its financial position aligned with the
entire senior leaders of the company

 

		·	Provide leadership in evaluating and executing M&A transactions

 

		·	Responsible, along with the CEO, in raising debt and equity financings to ensure the company can execute its plan

 

Perform other functions related to the CFO role
or as may be reasonably requested by the Board. Your job duties and reporting may change from time to time at the discretion of the Company
and/or TerrAscend. You may also be asked to assist with corporate initiatives on behalf of either company.

 

8.            Term

 

Your employment under this Agreement will commence
on April 27, 2020 and will continue indefinitely until it is terminated in accordance with the terms setforth in this Agreement.

 

    -4-

     

    

 

9.            Hours of Work

 

The normal work week shall be forty (40) hours
Monday to Friday. You will however be required to work such additional or alternative hours as may be required from time to time to fulfill
the responsibilities of the position. You understand and agree that you are classified as an exempt employee and the Annual Salary compensates
you for all hours worked.

 

10.         Standard
Operating Procedures and Policies

 

It is a term and condition of your employment with
the Company that you agree to comply with the policies and procedures of the Company and TerrAscend Corp, including but not limited to
those set out in TerrAscend’s Standard Operating Procedures, as may be amended from time to time by the Company or TerrAscend Corp.
in its absolute discretion.

 

It is a term and condition of your employment that
you shall fully and faithfully serve the Company and TerrAscend and use your reasonable efforts to promote the interests of the Company
and TerrAscend (including their related companies).

 

You understand and agree that, upon your breach
of this Agreement or responsibilities thereunder, the Company and/or TerrAscend has the right to implement discipline short of termination,
including verbal or written warning and suspensions with or without pay, as determined necessary by the Company and/or TerrAscend in their
sole discretion and that the implementation of such discipline does not constitute a termination of employment under this Agreement.

 

11.          Benefits

 

The Company offer health insurance coverage for
you under the applicable plan of the Company.

 

12.          Reimbursement

 

The Company will reimburse you the cost of eligible
travel and other expenses which are incurred for business purposes, including reasonable travel expenses from your home to areas you are
required to travel to for the purpose of carrying out your responsibilities. The Company reserves the right to deny any expense claim
for expenses not incurred for work-related purposes. Expenses must be submitted monthly, with appropriate documentation, in accordance
with the Company’s Expense Reimbursement Policy.

 

13.          Paid Time Off (“PTO”)

 

You are eligible for four (4) weeks of paid time
off per calendar year, prorated for partial years of employment. Time off for vacation purposes will be at a mutually convenient time
for the Company and the employee and must be requested at least 2 weeks in advance of the requested days off. You will only be allowed
to carry forward any unused vacation time into the next year to the extent same is permitted by the Company’s policies.

 

    -5-

     

    

 

14.         Confidentiality and Ownership of Inventions

 

It is a condition of your employment that you agree
to the Non-Competition, Non-Solicitation, and Confidentiality Agreement and the accompanying Code of Conduct (the “Code”),
copies of which shall be provided to you. The obligations set out in the Non-Competition, Non-Solicitation, and Confidentiality and the
Code shall survive and remain in effect notwithstanding the termination of your employment for any reason or any finding that your employment
with the Company and/or TerrAscend has been terminated, unlawfully or otherwise.

 

15.          Termination

 

		(a)	Death

 

In the event of your death during the term of your
employment with the Company, this Agreement shall automatically terminate, and the Company shall have no further obligations hereunder
except to pay your estate all earned compensation (including all benefits and reimbursements accrued and due) as of the date of your death.
Additionally, your Options shall be treated under the same terms as set forth in section 15(d)(iv) below as if you were terminated without
Cause.

 

		(b)	Disability

 

In the event of your “permanent disability”
(as hereinafter defined) during the term of your employment with the Company, the Company shall have the right, upon written notice to
you, to terminate your employment hereunder, effective upon the giving of such notice (or such later date as shall be specified in such
notice). In the event of such termination, the Company shall have no further obligations hereunder except to pay you all earned compensation
(including all benefits and reimbursements accrued and due) as of the date of your termination. Notwithstanding the foregoing, to the
extent applicable, upon the Company’s termination of this Agreement for permanent disability, your right to participate in any applicable
benefit plans and programs of the Company in which you had been previously participating, or to receive similar coverage, if any, shall
be determined under such plans and programs (at the Company’s expense). For purposes of this Agreement, the term “permanent
disability” shall have the meaning set forth in the Company’s applicable disability insurance policy, or, if no such definition
is available, any physical or mental disability or incapacity that renders you incapable of performing the services required in accordance
with your obligations hereunder for (A) a period of four (4) consecutive months or (B) shorter periods aggregating five (5) months during
any one (1) year period during the term of this Agreement. The terms of the Company’s disability plan shall control your benefits
under this section 15(b). Additionally, your Options shall be treated under the same terms as set forth in section 15 14(d)(iv)
below as if you were terminated without Cause.

 

    -6-

     

    

 

		(c)	Termination by the Company for Cause

 

The Company has the right, at any time, to
terminate your employment under this Agreement for Cause with written notice, effective upon the giving of such notice, in which
case you shall have no entitlement to any notice, pay in lieu thereof or severance, save and except for where required by any
applicable employment standards legislation. “Cause” shall mean: (i) conviction of, or entrance into an admission, plea
bargain, plea of no contest, or plea of nolo contendre to, a felony of any kind, or a charge by a law enforcement officer for,
conviction of, or entrance into an admission, plea bargain, plea of no contest, or plea of nolo contendre to a misdemeanor involving
fraud, dishonesty or an act of moral turpitude, (provided that such conviction of, or entrance into an admission, plea bargain, plea
of no contest, or plea of nolo contendre to, a felony of any kind, or a misdemeanor threatens the integrity of any cannabis license
held by TerrAscend); (ii) the willful commitment of any act of dishonesty in connection with Employee’s appointment herein, or
other willful gross misconduct involving TerrAscend, (iii) willful failure or refusal to materially comply (to the best of
Employee’s ability) with any of the TerrAscend’s written policies and procedures, including the TerrAscend’s
Standard Operating Procedures and Policies, provided that, to the extent such refusal or failure is susceptible to cure, it is not
fully, completely, and permanently cured to the best of Employee’s ability within thirty (30) business days after
Employee’s receipt of written notice from Company, or (iv) or (v) the commitment of any act which in the reasonable opinion of
the Board of Directors is materially detrimental to the business or reputation of the Company or otherwise materially prejudices the
interests of the Company. For purposes of this definition, no action or inaction will be considered “willful” unless
done or omitted to be done without good faith or without Employee’s reasonable belief that the action or omission was in the
best interests of TerrAscend, as determined by the arbitrator

 

		(d)	Termination by the Company without Cause

 

In the absence of Cause, the Company may, at its
sole discretion terminate your employment, and in such event the Company’s sole obligations shall be:

 

		(i)	to pay to you any compensation and accrued PTO and unreimbursed expenses, if any, that shall have been earned by you as of the date
of termination but not yet paid.

 

		(ii)	to provide you with a severance payment in the amount of 6 (six) months of Annual-Salary, subject to applicable payroll timing and
taxes and deductions, if the termination without cause occurs after October 27, 2020 (unless such termination without Cause is related
to circumstantial issues, such as but not limited to a closing of an office, a consolidation, or other non-performance related issue in
which case the amount shall be 9 (nine) months-(the “Severance Payment”). If the termination without Cause occurs prior to
October 27, 2020, the Severance Payment shall be 3 (three) months.

 

		(iii)	To ensure medical insurance coverage will be extended for the time of the severance period.

 

		(iv)	to ensure your remaining unvested Options will immediately vest on a pro-rata basis based upon the number of months worked compared
to the 36-month total vesting period under the Options, subject to the terms of the Option Pan.

 

    -7-

     

    

 

The Company shall have no obligation to provide
you with Severance until you execute and deliver to the Company a general release agreement in a form similar to Schedule “B”
attached hereto, which shall be modified to be enforceable in the legal jurisdiction governing your employment. Should you elect not to
execute and deliver such release, you shall only be entitled to receive to the accrued wages to which you are entitled pursuant to any
applicable employment law. Payment set forth in this paragraph 15(d) shall constitute your sole payment from, and remedy against, the
Company, its members, officers, directors, shareholders, executives and agents.

 

Further, you understand and agree that this provision
shall apply to you throughout your employment with the Company, regardless of its duration or any changes to your position, reporting
relationship, title, duties or compensation.

 

		(e)	Termination by You Without Good Reason

 

You may resign from your employment at any time
and without Good Reason (as defined below) upon providing the Company with eight (8) weeks’ notice in writing of your resignation,
during which time the Company shall provide you with the equivalent of your then Annual Salary and benefits and unreimbursed expenses
through and until your termination date, subject to applicable tax withholding and payable in accordance with the Company’s usual
payroll practices. The Company may waive the requirement that you work all or part of the notice of resignation period provided by you.
You acknowledge the Company will suffer damages by your failure to provide at least the notice as required herein.

 

		(f)	Termination by You for Good Reason

 

You may terminate your employment for “Good
Reason” following the occurrence of any of the following without your written consent: (i) any failure to pay, or material reduction
in, Annual Salary and bonus compensation, if any, in accordance with the terms hereof that is not also app;;cable to similarly situated
employees; (ii)) if the Company (or any successor entity) intentionally and materially reduces or diminishes your working responsibilities,
duties, or position in the Company to such an extent that a reasonable person would not consider such duties commensurate with your role
as CFO of the Company; (iii) a requirement by the Company that your primary work location be moved to a place that is more than twenty
five miles further from your home residence -from its location as of the date of this Agreement; or (iii)requiring you to report to
someone other than CEO; provided, however, that you shall provide written notice of any such “Good Reason” not later than
thirty (30) days after your discovery thereof to avail yourself of this right and the Company shall have the opportunity to cure same
within thirty (30) days after receipt of such written notice. If the Company does not cure within such time, then you shall, upon written
notice to the Company, be entitled to terminate your employment for Good Reason, provided you do so within forty five (45) days of giving
written notice of such Good Reason grounds not so cured. In the event that you terminate your employment for Good Reason, you shall be
entitled to the payments under the same terms as set forth in section 15(d)(i-iii) as if you were terminated without Cause.

 

    -8-

     

    

 

16.         General

 

		(a)	This Agreement shall inure to the benefit of and shall be binding upon your heirs, executors, administrators, successors and legal
representatives, and shall inure to the benefit of and be binding upon the Company, TerrAscend and their successors and assigns. You may
not assign this Agreement.

 

		(b)	A waiver by you or the Company and/or TerrAscend of any breach under this Agreement shall not constitute a waiver of any further breaches
of this Agreement

 

		(c)	This Agreement, together with the attached Non-Competition, Non-Solicitation, and Confidentiality Agreement and the Code constitute
the entire agreement between the Company and TerrAscend and you with respect to your employment and supersedes all prior oral or written
negotiations and understandings or representations. You acknowledge that the execution of this Agreement has not been induced by, nor
do you rely upon or regard as material, any representations or writings not specifically included or incorporated herein. This agreement
and the attached Non-Competition, Non- Solicitation, and Confidentiality Agreement referenced herein shall not be altered, modified, amended
or terminated unless evidenced in writing by the Company.

 

		(d)	The Company, TerrAscend and the Employee acknowledge that this Agreement is reasonable, valid and enforceable. However, if any term,
covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable,
it is the parties’ intent that such provision be changed in scope by the court only to the extent deemed necessary by that court
to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired
or invalidated as a result.

 

		(e)	This Agreement shall be governed by and interpreted in accordance with the laws of the State of Delaware, without regard to its conflict
of law provisions. The parties expressly agree to the exclusive jurisdiction of the state and federal courts and tribunals, as applicable,
in the State of Delaware in respect of this Agreement (including but not

 

		(f)	limited to issues relating to its interpretation, application, enforcement or termination), the relationship between the parties or
the cessation thereof.

 

		(g)	You acknowledge that you have been given the opportunity to obtain independent legal advice with respect to the nature and consequences
of entering into this Agreement. By signing and accepting this Agreement, you acknowledge that the Company and TerrAscend have afforded
you the opportunity to obtain independent legal advice in respect of this Agreement.

 

		(h)	By your signature below, you acknowledge and agree that any material misrepresentation or omission by you regarding your history, skills, experiences and abilities will constitute cause for your immediate dismissal, without notice, pay in lieu of notice, or other Severance Payment obligation.

 

		(i)	Sections 14, 15, 16, and 17 of this Agreement shall survive termination of your employment by the Company and/or TerrAscend.

 

    -9-

     

    

 

17.          Indemnification and D&O

 

TerrAscend shall procure and maintain a Directors
and Officers insurance policy during the term of your employment pursuant to which TerrAscend and the Company agree to defend and indemnify
you pursuant to TerrAscend’s indemnification policy. The Company will provide for your criminal defense in the event of any criminal
proceedings related to cannabis. This will remain in effect for up to 3 years after your termination of employment, in the event that
should occur.

 

18.           Representations, Warranties and Covenants

 

		(a)	Restrictions. You represent and warrant to the Company and TerrAscend that:

 

		(i)	There are no restrictions, agreements or understandings whatsoever to which you are a party that would: prevent or make unlawful your
execution of this Agreement or your employment hereunder be inconsistent or in conflict with this Agreement or employment hereunder; or
prevent, limit or impair in any way the performance by you of your obligations hereunder; and

 

		(ii)	You have disclosed to the Company and TerrAscend all restraints, confidentiality commitments or other employment restrictions that
you have with any other employer, person or entity. A copy of each such restraint, commitment or other restriction, if applicable, is
attached hereto.

 

		(b)	Obligations to Former Employers. You covenant that in connection with your provision of services to the Company, you will not breach
any obligation (legal, statutory, contractual or otherwise) to any former employer or other person, including, but not limited to, obligations
relating to confidentiality and proprietary rights.

 

		(c)	The Company represents and warrants that as of the date hereof, it has provided you with all requested information in an accurate
manner and has no undisclosed knowledge of circumstances or past events that may materially negatively impact the Company.

 

Please carefully read and consider this document
and its attachments. It is a condition of this offer that you execute and return the attached policies.

 

We request that you review, initial each page,
sign and date below acknowledging your acceptance of the terms outlined in this letter. Retain a copy of this letter for your records
and return an original copy to me no later than April 24, 2020

 

    -10-

     

    

 

Keith, we hope that the opportunities we provide
and the values we stand for will encourage you to become an integral part of the TerrAscend team. We look forward to working with you.

 

Sincerely,

 

	TERRASCEND USA, INC.	 
	 	 
	By:	/s/ Brian Feldman	 
	 	TerrAscend USA, Inc.	 

 

    -11-

     

    

 

ACCEPTANCE

 

By my signature below, I confirm that I have read, understand and agree
with the foregoing terms, that I have been afforded a reasonable opportunity to consult with independent legal counsel with respect to
the above terms before signing below, and that I sign this Agreement freely and voluntarily and without any pressure, duress or undue
influence. I have not relied on any representations, inducements or statements, oral or written, which are not contained in this letter.

 

	AGREED TO:	/s/
    Keith Stauffer	 
	 	 	 
	DATE:	4/22/20	 

 

    -12-

     

    

 

SCHEDULE B

 

FORM OF

CONFIDENTIAL SEPARATION AND RELEASE AGREEMENT

 

This Confidential Separation and Release Agreement
(this “Agreement”) shall serve as a fully binding separation agreement between ________________ (“Employee”)
and ______________ (the “Company” and collectively the “Parties”). Employee’s employment with
the Company is terminated effective ________________ (the “Separation Date”). Following the Effective Date of this
Agreement, and in consideration of the Employee’s execution, non-revocation, and assent to all terms and provisions of this
Agreement, the Company will pay to Employee the severance benefits outlined below.

 

Severance Payment. Employee acknowledges
and agrees that Employee will not be entitled to any compensation or benefits from the Company, except as expressly provided for in this
Agreement, and Employee specifically waives and foregoes all rights to any compensation or benefits of any kind that are not expressly
provided to Employee in this Agreement In exchange for Employee executing and not revoking the general release set forth in this Agreement
and other valuable consideration given and received by the Parties, the Parties agree as follows:

 

In consideration of the promises set forth herein,
without any other obligation to do so, provided that Employee does not exercise his right to revoke this Agreement as set forth below,
the Company will pay Employee severance in the amount of ______________________________ Dollars ($__________), less applicable payroll
deductions (“Severance Payment”). The Company will pay the Severance Payment on the first regular payday occurring
at least eight (8) days after this Agreement is fully executed.

 

Employee acknowledges and agrees that the Severance
Payment referenced above constitute adequate consideration to support the releases set forth in this Agreement and fully compensate Employee
for the claims Employee is releasing. For purposes of this Paragraph, “Consideration” means the payments and benefits
set forth in this Section 0, which are enhanced payments and benefits to which Employee is not already or otherwise entitled to receive.

 

     

     

    

 

Release of Claims.

 

In exchange for the Severance Payment and other
consideration set forth herein, the sufficiency of which is hereby acknowledged, Employee (on behalf of Employee, Employee’s
executors, heirs, administrators, assigns and anyone else claiming by, through or under Employee) irrevocably and unconditionally,
fully and forever releases and discharges the Employer, and its predecessors, successors and related and affiliated entities,
including parents (including holding companies) and subsidiaries, and each of their respective directors, officers,
 “Releasees”), for, from, and with respect to, any and all rights, remedies, demands, actions, causes of action,
suits, covenants, contracts, wages, bonuses, damages, and any and all claims, debts, liabilities, liens, and expenses (including
attorneys’ fees and costs) whatsoever of any name or nature both in law and in equity that Employee now has, ever had, or may
in the future have against the Releasees (severally and collectively, “Claims”) related to anything occurring
prior to Employee’s execution of this Agreement, for or by reason of any matter, cause or thing whatsoever (as allowed by
law). Without limiting the generality of the foregoing, this waiver and release of claims includes any and all Claims in tort or
contract, whether by statute or common law, and any Claims relating to or arising out of salary, wages, bonuses, stock options,
equity compensation, stock ownership and commissions, the breach of an oral or written contract, breach of fiduciary duty, rights to
indemnification and contribution, unjust enrichment, promissory estoppel, misrepresentation, defamation, and interference with
prospective economic advantage, interference with contract, wrongful termination, intentional and negligent infliction of emotional
distress, negligence, breach of the covenant of good faith and fair dealing, and Claims arising out of, based on, or connected with
Employee’s employment with or termination from the Employer, including any Claims for unlawful employment discrimination of
any kind, whether based on age, race, sex, disability or otherwise, including claims arising under or based on Title VII of the
Civil Rights Act of 1964, as amended; or any other relevant antidiscrimination laws or state statutes or municipal ordinances
related to discrimination; the Age Discrimination in Employment Act (“ADEA”), as amended; the Older Workers
Benefit Protection Act (“OWBPA”); the Civil Rights Act of 1991, as amended; the Family and Medical Leave Act; the
Americans with Disabilities Act; the Fair Labor Standards Act; the Employee Retirement Income Security Act; the Equal Pay Act of
1963; the Delaware Labor Code, and any other local, state or federal equal employment opportunity or anti-discrimination law,
statute, policy, order, ordinance or regulation affecting or relating to Claims that Employee ever had, now has, or claims to have
against the Releasees (collectively, the “Released Claim(s)”).

 

Except as set forth below, Employee agrees not to
prosecute, maintain or institute any action at law, suit or proceeding of any kind or nature whatsoever against Company for any reason
related in any way to any Released Claim. Employee further agrees that Employee will not raise any claim against Company by way of defense,
counterclaim or cross-claim or in any other manner, on any alleged claim, demand, liability or cause of action released herein. At
the time of Employee’s execution of this Agreement, Employee represents that there are no claims, complaints or charges pending
against Company in which Employee is a party or complainant. Further, Employee acknowledges and agrees there are no non-asserted workers’
compensation claims through the date of Employee’s execution of this Agreement. Employee agrees not to assert any Released Claim
in a class or collective action and further agrees not to become, and promises not to consent to become, a member (including a representative
class plaintiff) of any class in a case brought in court or in arbitration in which claims are asserted against any of the Released Parties
that are related in any way to Employee’s employment with or termination from Company and/or that involve events which have occurred
as of the Effective Date of this Release. If Employee, without Employee’s prior knowledge and consent, is made a member of a class
in any proceeding, whether in court or in arbitration, Employee will opt out of the class at the first opportunity afforded to him/her
after learning of Employee’s inclusion.

 

Employee understands that nothing in this
Agreement is intended to interfere with or deter Employee’s right to challenge the waiver of an ADEA claim or state law age
discrimination claim or the filing of an ADEA charge or ADEA complaint or state law age discrimination complaint or charge with the
EEOC or any state discrimination agency or commission or to participate in any investigation or proceeding conducted by those
agencies. Further, Employee understands that nothing in this Agreement would require Employee to tender back the money received
under this Agreement if Employee seeks to challenge the validity of the ADEA or state law age discrimination waiver, nor does the
Employee agree to ratify any ADEA or state law age discrimination waiver that fails to comply with the Older Workers’ Benefit
Protection Act by retaining the money received under the Agreement. Further, nothing in this Agreement is intended to require the
payment of damages, attorneys’ fees or costs to the Company should Employee challenge the waiver of an ADEA or state law age
discrimination claim or file an ADEA or state law age discrimination suit except as authorized by federal or state law.

 

    -2-

     

    

 

This release specifically excludes (i) any claim
which cannot be released by private agreement, such as workers’ compensation claims, claims after the Effective Date of this Agreement
(as defined below); (ii) the right to file administrative charges with certain government agencies; and (iii) any and all rights to vested
benefits. In particular, nothing in this Agreement shall be construed to prohibit Employee from filing a charge with, making a complaint
to, or participating in any investigation or proceeding conducted by the Equal Employment Opportunity Commission, National Labor Relations
Board, or a comparable state or local agency, or to the Securities Exchange Commission or Internal Revenue Service. Employee agrees to
waive the right to receive future monetary recovery directly from Employer, including Employer payments that result from any complaints
or charges that Employee files with any governmental agency or that are filed on Employee’s behalf.

 

Important Notice to Employee Concerning Release
of Claims under the Age Discrimination in Employment Act. Employee hereby acknowledges that Employee knowingly and voluntarily
enters into this Agreement, which is made in accordance with the Older Workers’ Benefit Protection Act (“OWBPA”),
and is made with the purpose of waiving and releasing any age discrimination claims Employee may have under the Age Discrimination in
Employment Act of 1967 (“ADEA”). Employee further acknowledges and agrees that:

 

this Agreement is written in a manner in which Employee
fully understands;

 

Employee specifically waives any rights or claims
arising under the ADEA and OWBPA;

 

this Agreement does not waive rights or claims under
the ADEA and OWBPA that may arise after the date this Agreement is executed;

 

the rights and claims waived in this Agreement are
in exchange for consideration over and above anything to which Employee is already entitled;

 

Employee has been advised in writing to consult with
an attorney prior to executing this Agreement, and has, in fact, had an opportunity to do so;

 

Employee has been given a period of up to at least
21 days, if desired, within which to consider this agreement;

 

Employee has a period of 7 days within which
Employee can revoke this agreement, and the agreement shall not be effective until the seven-day revocation period has been
exhausted. Thus, the Effective Date of this Agreement is the eighth day after this Agreement has been executed, providing it was not
revoked (“Effective Date”). Notice of revocation must be delivered in writing and received by the Company at the
address of the Company set forth on the signature page hereto, by the end of the 7-day revocation period; and

 

Any changes made to this Agreement, whether material
or immaterial, will not restart the running of this 21-day period.

 

    -3-

     

    

 

Confidentiality.

 

In addition, Employee agrees to keep the terms, conditions
and circumstances of Employee’s separation from the Company confidential and to not aid or render assistance in any form to any
person or entity pursuing, or that may in the future pursue, any claim against the Company or its officers, directors, shareholders, employees
or affiliates of any nature unless required to do so by law.

 

Employee acknowledges and agrees that Employee will
keep the terms, amount, and facts of, and any discussions leading up to, this Agreement STRICTLY AND COMPLETELY CONFIDENTIAL, and that
Employee will not communicate or otherwise disclose to any employee of the Company (past, present, or future), or to any member of the
general public, the terms, amounts, copies, or fact of this Agreement, except as may be required by law or compulsory process; provided,
however, that Employee may make such disclosures to Employee’s spouse, tax/financial advisors or legal counsel as long as they agree
to keep the information confidential. If asked about any of such matters, Employee’s response shall be that Employee may not discuss
any of such matters.

 

Employee’s Return of Company Property
and Transition Obligations. Employee agrees to execute any paperwork necessary and otherwise cooperate in full with the Company’s
efforts to transfer to the Company all data, phone, internet or website access, and fax lines and/or numbers currently maintained by Employee
for the purpose of conducting business on behalf of the Company. Any and all transfer fees incurred will be the responsibility of the
Company. Upon such transfer, the Company shall be the sole authorized user of all such data, phone, and fax lines and/or numbers. Employee
further agrees to immediately return to Company employee identification badge, keys, and all Company-owned equipment, data, lists,
forms, and documents (paper and electronic) and will not maintain copies of the same in any form, whether tangible or intangible, hard
copy or electronic.

 

Miscellaneous.

 

Governing Law and Venue. The validity,
interpretation, construction and performance of this Agreement, and all acts and transactions pursuant hereto and the rights and obligations
of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the state of Delaware, without giving
effect to principles of conflicts of law. For purposes of litigating any dispute that may arise directly or indirectly from this Agreement,
the parties hereby submit and consent to the exclusive jurisdiction of the state of Delaware and agree that any such litigation shall
be conducted only in the courts of Delaware.

 

Entire Agreement. This Agreement
sets forth the entire agreement and understanding of the parties relating to the subject matter herein and supersedes all prior or
contemporaneous discussions, understandings and agreements, whether oral or written, between them relating to the subject matter
hereof, except for the NON-COMPETITION, NON-SOLICITATION, and CONFIDENTIALITY AGREEMENT and the surviving sections of the __________
DATE Employment Agreement that you signed upon hire.

 

    -4-

     

    

 

Amendments and Waivers. No modification
of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the
parties to this Agreement. No delay or failure to require performance of any provision of this Agreement shall constitute a waiver of
that provision as to that or any other instance.

 

Successors and Assigns.

 

Company’s Successors. This
Agreement shall be binding upon any successor (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. For all purposes under this Agreement, the term
 “Company” shall include any successor to the Company’s business or assets that becomes bound by this Agreement.

 

Your Successors. This Agreement and
all of your rights hereunder shall inure to the benefit of, and be enforceable by, your personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees.

 

Notices. Any notice, demand or request
required or permitted to be given under this Agreement shall be in writing and shall be deemed sufficient when delivered personally or
by overnight courier or sent by email, or 48 hours after being deposited in the U.S. mail as certified or registered mail with postage
prepaid, addressed to the party to be notified at such party’s address as set forth on the signature page, as subsequently modified
by written notice, or if no address is specified on the signature page, at the most recent address set forth in the Company’s books
and records.

 

Severability. If one or more provisions
of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In
the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, 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.

 

Construction. This Agreement is the
result of negotiations between and has been reviewed by each of the parties hereto and their respective counsel, if any; accordingly,
this Agreement shall be deemed to be the product of all of the parties hereto, and no ambiguity shall be construed in favor of or against
any one of the parties hereto.

 

Counterparts. This Agreement may be
executed in any number of counterparts, either manually or electronically, each of which when so executed and delivered shall be deemed
an original, and all of which together shall constitute one and the same agreement.

 

Electronic Delivery. The Company may,
in its sole discretion, decide to electronically sign and deliver any documents related to this Agreement or any notices required by applicable
law or the Company’s Certificate of Incorporation of Incorporation or Bylaws by email or any other electronic means. The undersigned
hereby consents to receive such documents and notices by such electronic delivery and agrees to participate through an on-line or
electronic system established and maintained by the Company or a third party designated by the Company.

 

    -5-

     

    

 

 

The Parties agree that the offer or execution of this Agreement is
not an admission of liability of any nature by the Company or Employee and that it cannot be used in any proceeding other than one to
enforce its terms.

 

PLEASE READ CAREFULLY. THIS AGREEMENT INCLUDES
THE RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS AND MUST BE RETURNED BY DATE TO BE VALID.

 

AGREED: 

 

	 	THE COMPANY:
	 	 
	 	By:
	 	 
	 	ADDRESS:
	 	 	 
	 	 	 
	 	 	 

	 	EMAIL:	 	 

  

	 	EMPLOYEE:
	 	 
	 	(SIGNATURE)
	 	 
	 	ADDRESS:
	 	 	 
	 	 	 
	 	 	 

	 	EMAIL:

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