Document:

EdgarFiling

Exhibit 10.1

 

 

 

SEPARATION AGREEMENT

 

THIS AGREEMENT dated as of December 2,
2019 (“Agreement”) is made by and between Zomedica Pharmaceuticals Corp. (the “Company”) and Gerald L.
Solensky, Jr. (“Executive”).

 

WHEREAS, Executive and the Company are parties
to an Employment Agreement dated as of December 1, 2016, as amended (the “Employment Agreement”), and

 

WHEREAS, the parties wish to enter into this
Agreement regarding their separation, subject to the execution of (1) the concurrent Cooperation Agreement (the “Cooperation
Agreement”) and (2) the Consulting Agreement of even date (the “Consulting Agreement”, together with this Agreement
and the Cooperation Agreement, the “Separation Documents”).

 

ACCORDINGLY, in consideration of the execution
and delivery of this Agreement and the compliance with the promises made herein, the parties agree that the precatory clauses above
are incorporated herein and further agree as follows:

 

1.                 
Last Day of Employment. Executive’s last day of employment is December 2, 2019.

 

2.                 
Severance. Upon expiration of the revocation period set forth in paragraph 11(b) (such expiration referenced herein
as the “Effective Date”), the Company shall pay Executive severance in the total amount of $325,000, less applicable
taxes and withholding. This severance payment shall be made in two equal installments of $162,500 each (less applicable taxes and
withholding) payable on or before December 5, 2019 and on or before January 6, 2020, provided, however, that if the revocation
period set forth in paragraph 11(b) has not expired before December 5, 2019, then the first payment shall be made three business
days after the Effective Date.

 

3.                 
Survival of Company Indemnification Obligations. All obligations of the Company to indemnify and defend Executive, and advance
fees, costs and expenses to Executive, in each case pursuant to Article 17 of the Employment Agreement, shall survive in accordance
with such Article 17. The Company shall not take any action that would terminate or limit the Company’s obligations to indemnify
Executive, including without limitation by amending its bylaws.

 

4.                 
COBRA Benefits. If Executive properly and timely elects to continue medical coverage in accordance with the continuation
requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), then, upon expiration of the
revocation period set forth in paragraph 11(b), the Company shall pay for its share of the cost of the premium for such coverage
through April 30, 2020 at the same rate as it currently pays for its share of the cost of Executive’s current medical coverage
premium. The Company shall pay half of the total amount payable under this paragraph to Executive with the first installment payment
set forth in paragraph 2 and half with the second installment payment set forth in paragraph 2.

 

5.                 
Car Allowance. Upon expiration of the revocation period set forth in paragraph 11(b), the Company shall continue to pay
the Car Allowance specified in Article 5.3 of the Employment Agreement through April 30, 2020 at the same rate and amounts as it
currently pays under Article 5.3 of the Employment Agreement. The Company shall pay half of the total amount payable under this
paragraph to Executive with the first installment payment set forth in paragraph 2 and half with the second installment payment
set forth in paragraph 2.

 

     

     

    

6.                 
Removal of Executive’s Guarantee of Company Obligations. The Company shall cooperate with Executive and use reasonable
business efforts to have the Executive removed as a guarantor of the Company’s obligations to Equidebt LLC (“Equidebt”)
pursuant to the Guaranty Agreement between Executive and Equidebt dated as of October 17, 2017 (the “Guaranty”). The
Company agrees to indemnify, defend, and hold harmless the Executive for Executive’s obligations to Equidebt under the Guaranty,
including attorneys’ fees and costs.

 

7.                 
Cooperation Agreement. Concurrent with execution of this Agreement, the Company and the Executive shall enter into a Cooperation
Agreement substantially in the form attached hereto as Exhibit A. Executive agrees and understands that his receipt of the benefits
specified in paragraphs 2-6 above are contingent on his execution of and compliance with the Cooperation Agreement. The Company
agrees and understands that its failure to perform all obligations set forth in this Separation Agreement, including failure to
make any payments hereunder as and when due in accordance with the terms of this Agreement, will result in automatic termination
and voiding of the Cooperation Agreement, ab initio, provided, however, that Executive shall first provide written notice to the
Company of any failure to perform an obligation set forth in this Separation Agreement and the Company shall have 14 days from
receipt of the notice to cure any such failure.

 

8.                 
Consulting Agreement; Options. Concurrent with execution of this Agreement, the Company and the Executive shall enter into
a Consulting Agreement substantially in the form attached hereto as Exhibit B. The Consulting Agreement shall not be terminated
unilaterally by either party prior to December 21, 2020, and the Company shall not otherwise take any action that would result
in acceleration of the exercise period of Executive’s options prior to December 21, 2020.

 

9.                 
Mutual General Release of Claims.

 

(a)              
In consideration for the promises herein, including the Company’s making the payments in paragraph 2 and providing the additional
benefits in paragraphs 4-6, each Party knowingly and voluntarily releases and forever discharges the other Party and its parent,
subsidiaries, and affiliates (including Zomedica Pharmaceuticals, Inc.) and their directors, officers, employees, agents and plan
fiduciaries and all related persons (each in his individual and official capacities), heirs, successors and assigns (all of the
foregoing in relation to a Party, collectively the “Releasees”) of and from any and all claims, actions, causes of
action, suits, countersuits, debts, dues, sums of money, accounts, reckoning, bonds, bills, indebtedness, obligations, covenants,
unwritten contracts, controversies, promises, variances, trespasses, damages, judgments, extents, executions, losses, expenses,
fees, and demands whatsoever (“Claims”), in law or equity, known or unknown, anticipated, unanticipated, disclosed
or undisclosed, which the Party has or may have against the other Party or the applicable Releasees as of the date of the signing
and delivery of this Agreement (collectively, “Released Claims”); provided, that none of the following shall
constitute Released Claims: (i) any rights or obligations of any Party pursuant to any Separation Document; (ii) any rights of
Executive to indemnification from or by the Company or its insurers, including without limitation as set forth in paragraph 3 hereof;
and (iii) Claims by the Company relating to fraud or breach of fiduciary duty, provided, however, that if the Company brings a
cause of action against Executive for fraud or breach of fiduciary duty in a litigation, arbitration or similar proceeding, then
both Parties’ releases set forth in this paragraph 9 are null and void ab initio.

 

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(b)              
The Claims hereby released by Executive include, without limitation, any and all claims arising out of or in any way connected
with the employment by the Company of Executive. Such Claims shall include, but not be limited to, any alleged claim under or alleged
violation of the following laws (as they may have been amended) or other law, policy, contract or cause of action: (1) the National
Labor Relations Act; (2) Title VII of the Civil Rights Act of 1964, Section 1981 through 1988 of Title 42 of the United States
Code, and the Civil Rights Act of 1991; (3) Employee Retirement Income Security Act of 1974; (4) the Age Discrimination in Employment
Act of 1967; (5) the Americans with Disabilities Act of 1990; (6) the Fair Labor Standards Act; (7) the Federal Occupational Safety
and Health Act; (8) the Family and Medical Leave Act of 1993; (9) any and all other federal, state or local civil or human rights
laws; (10) any local, state or federal law, rule, regulation or ordinance, and/or public policy, contract, including, without limitation,
any collective bargaining agreement, or tort or common law, having any bearing whatsoever, or based upon any matter or conduct,
including, without limitation, any matter or conduct involving the terms and conditions (including, without limitation, with respect
to compensation and benefits) of Executive’s employment with, or cessation of employment with, the Company, which claim,
with respect to any of the foregoing, Executive now has or shall have as of the date of this Agreement; and (11) any claim for
costs, fees, or other expenses including, without limitation, attorney’s fees, incurred in any of the foregoing matters.
Notwithstanding the foregoing, Executive does not waive any rights Executive may have to file or collect unemployment benefits,
to file a charge or participate in an investigation or proceeding conducted by the Equal Employment Opportunity Commission (“EEOC”)
or other government agency, or to seek any rights under COBRA, if applicable.

 

10.             
Knowing Waiver of Age Claim. Among the claims listed above, Executive freely and knowingly waives any and all claims against
the Company Releasees for age discrimination under the Age Discrimination in Employment Act of 1967, as amended.

 

11.             
Conditions of Effectiveness of this Agreement.

 

(a)              
Waiver of Age Discrimination in Employment Act Claims. Executive acknowledges and agrees that Executive has been offered
a period of up to twenty-one days to review this Agreement with any attorneys, financial advisors or immediate family members,
that Executive has been advised by the Company to do so, and to the extent Executive desires, has done so, that Executive has used
the full twenty-one day period for such review or has voluntarily chosen to execute this Agreement before the end thereof, that
Executive has read and understood the release provided herein and that Executive has knowingly and voluntarily agreed to all the
terms of this Agreement and that Executive has signed this Agreement voluntarily without any coercion.

 

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(b)              
Revocation. Executive has seven (7) days following the date upon which Executive signs and delivers this Agreement to the
Company to revoke acceptance of the Agreement, except that the revocation shall be effective only if it is made in
writing addressed to the Company and includes the statement: “I hereby revoke my acceptance of our Agreement,” and
such written revocation is delivered to the Company by hand, registered mail, certified mail (return receipt requested) or overnight
mail at 100 Phoenix Drive, Suite 190, Ann Arbor, Michigan 48108, Attn: Jeffrey Rowe.

 

12.             
Non-disparagement. The parties agree not to make or publish any statement or take any action intended to defame, disparage,
humiliate, embarrass, or discredit each other or any of the other applicable Releases, their management, or their practices. Executive
further agrees not to take any action that would disrupt or impair the Company’s operations; provided, that this provision
shall not limit or prohibit a party from taking any action required by the Separation Documents or to enforce the terms of any
Separation Document.

 

13.             
Reasons for Termination. The parties agree that they will in all public statements refer to the termination of Executive’s
employment and the reasons therefor in a manner consistent with the press release issued in connection such termination.

 

14.             
Governing Law and Interpretation; Venue. This Agreement shall be governed by the laws of the State of Delaware without regard
to its conflict-of-laws principles. Except as provided in paragraph 15, any and all disputes relating to or arising out of this
Agreement, Executive’s employment with the Company or the termination of that employment shall be brought solely and exclusively
in the federal or state courts located in Michigan.

 

15.             
Binding Arbitration. Subject to the remainder of this paragraph, the Company and Executive expressly agree that any dispute
arising out of or relating to this Agreement, Executive’s employment with the Company or the termination of Executive’s
employment with the Company shall be resolved solely and exclusively through binding arbitration. Any such arbitration shall take
place in the federal judicial district where the Executive principally worked for the Company. Any such arbitration shall be conducted
before a panel of three professional arbitrators. One arbitrator shall be selected by the Company, one arbitrator shall be selected
by the Executive, and one arbitrator shall be selected by mutual agreement of the Company and the Executive, provided, however,
that if the Company and the Executive cannot agree on a third arbitrator, then the other arbitrators shall jointly select the third
arbitrator. The arbitration will take place under the JAMS rules of employment arbitration. The majority of the arbitrators shall
have sole, exclusive and binding authority to issue an arbitral decision (the “Award”) regarding any disputes. The
parties agree that an Award may be enforced in any court of competent jurisdiction. Nothing here shall prevent a party from seeking
injunctive or other emergency relief from a court. In the event that a dispute relates to or also involves any other Separation
Document, such dispute shall be resolved in accordance with the dispute resolution mechanism specified in this paragraph.

 

16.             
No Actions. Each Party represents that it has not commenced, maintained, prosecuted or participated in any action, charge,
complaint or proceeding of any kind (on his/its own behalf and/or on behalf of any other person and/or on behalf of or as a member
of any alleged class of persons) that is pending in any court, or before any administrative or investigative body or agency (whether
public, quasi-public, or private) against or involving the other Party or any of his/its affiliates, including for the Company
Zomedica Pharmaceuticals, Inc. Each Party represents that it is not aware of or participating in any effort by any person or entity
to assert any action, charge, complaint or proceeding of any kind, whether in court or before an administrative body or agency
(whether public, quasi-public, or private), against or involving the other Party or any of his/its affiliates, including for the
Company Zomedica Pharmaceuticals, Inc.

 

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17.             
Confidentiality. The parties represent and agree that they will keep the negotiations surrounding this Agreement confidential,
and that they will not hereafter disclose (except as required by law) any information concerning the negotiations of this Agreement
to any person other than their attorneys and financial or tax advisors or, in the case of the Executive, Executive’s immediate
family, provided each is informed of and agrees in advance to be bound by this confidentiality provision; provided further that
all parties acknowledge and agree that if applicable law requires the filing of this Agreement with the Securities and Exchange
Commission (“SEC”), then no confidentiality obligation is imposed relating to any information the Company files with
the SEC. Nothing in this Agreement prevents or precludes Executive from cooperating with any inquiry by the SEC or any other regulatory
agency or body. Notwithstanding the foregoing, each Party acknowledges and agrees that a copy of this Agreement and the other Separation
Documents may be provided to Equidebt or its affiliates, provided that Equidebt, for itself and its affiliates, agrees to maintain
any such document in confidence if that document has not been publicly filed.

 

18.             
Representations and Warranties. Each Party hereby represents and warrants to the other that (a) in the case of a Party that
is not a natural person, (i) such Party has all necessary power and authority to enter into this Agreement and the other Separation
Documents and (ii) and the entry into and performance of its obligations under this Agreement and the other Separation Documents
has been duly and validly authorized by such Party; (b) this Agreement and the other Separation Documents constitute legal, valid
and binding obligations of such Party, enforceable in accordance with their respective terms; and (c) the entry into this Agreement
and the other Separation Documents and the performance of the transactions described therein does not conflict with any other agreement
or legal obligation to which such Party or its Releasees are subject.

 

19.             
Entire Agreement: Amendment. This Agreement, together with the other Separation Documents, sets forth the entire agreement
between the Company and Executive with respect to this Agreement’s and the other Separation Document’s subject matter
and supersedes any and all prior and contemporaneous oral and written agreements, understandings, representations and warranties
between the parties with respect thereto. Notwithstanding anything herein to the contrary, nothing in this Agreement or any other
Separation Document supersedes any provisions of the Employment Agreement that survive termination of the Employment Agreement
or termination of Executive’s employment with the Company, including Articles 10-13 of the Employment Agreement.

 

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20.             
Return of Company Property. Executive represents that Executive will return to the Company, no later than Friday, December
6, 2019, all documents, information, property and equipment of any kind of the Company or any of its affiliates, including Zomedica
Pharmaceuticals, Inc., in Executive’s possession or control. This includes computer equipment (hardware and software), telephones
and other communications devices, credit cards, office keys, security access cards, badges, identification cards and all copies
(including drafts) of any documentation or information (however stored), relating to the business of the Company, its affiliates
its clients or prospective clients. Executive represents that Executive will have, by the same date, permanently and irrevocably
deleted any computer or electronic files, tapes, or any other electronic media containing any Company or affiliate information
or documents, including client information. In addition, Executive represents that Executive does not have any Company or affiliate
documents, information or property on any computer Executive has used (excluding those at the Company’s offices). Notwithstanding
anything herein to the contrary, for so long as Executive is a shareholder or director of the Company, Executive may possess those
Company documents that are distributed by the Company to other shareholders or directors, respectively. Executive shall provide
a signed, written certification to the Company no later than Friday, December 6, 2019 certifying that he has complied with the
provisions of this paragraph.

 

21.             
Return of Executive’s Property. The Executive shall arrange for a mutually agreeable third party to remove by December
31, 2019 at Executive’s expense all personal possessions of Executive remaining on Company premises or otherwise in the Company’s
possession or control. The Company shall reasonably cooperate with the Executive in arranging for the removal of Executive’s
personal possessions.

 

22.             
Negotiated Agreement. This Agreement together with the other Separation Documents amicably resolves any issues between the
parties, and they agree that this Agreement and its accompanying exhibit agreements shall neither be interpreted nor construed
as an admission of any wrongdoing or liability on the part of the Company or the Executive and that neither party shall be considered
the primary drafter of this Agreement or its accompanying exhibit agreements.

 

23.             
Acknowledgement. The parties hereby acknowledge that they have read this Agreement, have had an adequate opportunity to
review its terns and have been advised to consult with legal counsel before signing this Agreement. They further acknowledge that
they understand this Agreement's terms and consequences and are executing it freely and voluntarily.

 

24.             
Binding. This Agreement shall be binding upon and inure to the benefit of Executive and the Company, and their respective
heirs, administrators, successors and assigns.

 

25.             
Counterparts; Facsimile and Electronic Signatures. This Agreement may be executed in two or more counterparts, each of which
shall be deemed to be an original and all of which together shall constitute one and the same instrument. Facsimile and electronic
counterpart signatures on this Agreement shall be valid and binding.

 

26.             
Attorneys’ Fees. Within 10 business days of Executive providing the Company with copies of invoices from Executive’s
attorneys, the Company shall reimburse the Executive for reasonable attorneys’ fees incurred in connection with this Agreement
and the transactions contemplated hereby, including any public filings made by Executive at or shortly after the Effective Date,
up to a maximum of $10,000. All invoices provided pursuant to this paragraph shall contain sufficient detail to allow the Company
to confirm that the fees incurred are reimbursable pursuant to this paragraph.

 

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The Company and Executive have read and fully considered this Agreement,
and both have elected to sign this Agreement, to deliver a copy to each other, to fulfill the promises set forth in this Agreement,
and to receive the benefits of the promises set forth in this Agreement. Therefore, the Company and Executive now knowingly and
voluntarily sign this Agreement on the date set forth below.

 

 

 

Zomedica Pharmaceuticals Corp.

 

By:       /s/Jeffrey
Rowe

 

Title:   Chairman
of the Board

 

/s/Gerald L. Solensky, Jr.

Gerald L. Solensky, Jr.

 

 

 

 

 

 

 

 

 

 

 

7EdgarFiling

Exhibit 10.2

 

COOPERATION AGREEMENT

 

THIS COOPERATION AGREEMENT (this “Agreement”), dated as of
December 2, 2019 (the “Effective Date”), is made by and between Zomedica Pharmaceuticals Corp. (the “Company”)
and Gerald L. Solensky Jr. (“Executive”) (collectively, the “Parties” and each, a “Party”).

 

WHEREAS, the Parties entered into a Separation Agreement
of even date (the “Separation Agreement”),

 

WHEREAS, the Company’s Board of Directors (the “Board”)
may from time to time hereafter call a meeting of stockholders, whether special or annual (any such meeting, together with any
adjournments, postponements or continuations thereof, a “Meeting”).

 

WHEREAS, the Parties wish to enter into this Agreement to
address certain matters, including in connection with the Executive’s ownership of common shares of the Company (the “common
shares”) and the voting of common shares at Meetings, in accordance with the terms of this Agreement.

 

NOW, THEREFORE, in consideration of the covenants and agreements
set forth in this Agreement, and for other good and valuable consideration the receipt and sufficiency of which are acknowledged,
and intending to be legally bound, the Parties agree as follows:

 

		1.	Beneficial Ownership. Executive hereby represents and warrants to the Company that as of the date hereof (i) he
beneficially owns, or exercises control or direction over, the number of common shares set forth on Schedule 1, (ii) except
as disclosed in such Schedule 1, and except for the Excluded Shares (as defined below), Executive does not have beneficial
ownership of, or exercise control or direction over, any common shares or other securities of the Company, and (iii) other
than this Agreement and in the case of the Excluded Shares, he is not a party to any agreement, arrangement or understanding with
any other person or entity in connection with the holding, voting or disposition of common shares. The “Excluded Shares”
means of the 12,000,000 common shares, which Executive is currently in discussions with Equidebt LLC (“Equidebt”)
to sell to Equidebt or an Affiliate thereof, those that are actually sold to Equidebt or its Affiliates.

 

		2.	Restrictions on Transfer. Notwithstanding anything to the contrary in the Agreement, Executive shall not, during the
Term (as hereinafter defined), directly or indirectly, sell, transfer, pledge, contract to sell, sell any option or contract to
purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, transfer the economic risk of
ownership of, or otherwise dispose of (each, a “Transfer” and related terms such as “Transferred”
shall have similar meanings) any securities of the Company (other than the Excluded Shares) except:

 

	 	(i)	to the Company;
	 	 	 
		(ii)	in response to a bona fide public tender offer or exchange offer subject to Regulation 14D or Rule 13e-3 of the rules
promulgated under the Exchange Act by the United States Securities and Exchange Commission, for cash or other consideration, which
is made by or on behalf of the Company;

 

		(iii)	in connection with an Extraordinary Transaction (as hereinafter defined) involving the Company that has been approved by the
Board;

 

		(iv)	to an Affiliate (as hereinafter defined) of Executive in one or more transactions, so long as prior to or concurrent with any
such Transfer such Affiliate agrees in writing to be bound by the terms of this Agreement, and the Company is notified in advance
and received a copy of such agreement;

 

		(v)	in connection with the pledge of any common shares to Equidebt or any Affiliate thereof, or any foreclosure thereon or otherwise
in respect of any settlement thereof; or

 

		(vi)	in accordance with the provisions of Section 3.

 

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		3.	Third Party Sales.

 

		(i)	During the term of this Agreement, if Executive wishes to Transfer, in the aggregate, in one transaction or a series of related
transactions, more than 1% of the then issued and outstanding common shares (other than a proposed sale to a person that is permitted
under Section 2) (“Proposed Private Sale”) then:

 

		(a)	prior to conducting any marketing efforts to Transfer such common shares, Executive shall give written
notice to Company of the Proposed Private Sale (the "Proposed Private Sale Notice"), which Proposed
Private Sale Notice shall contain the total number of common shares proposed to be sold pursuant to the Proposed Private Sale,
and the proposed purchase price, which must be payable in cash in United States dollars;

 

		(b)	Company shall have the right to name, by notice in writing to Executive (the "Purchaser Notice")
within ten (10) Business Days following delivery of the Proposed Private Sale Notice (the "Proposed Private Sale
Period"), one or more purchasers (each, a "Private Sale Purchaser") who are capable of closing,
and willing to close, the Proposed Private Sale within thirty calendar days after the delivery of the Purchaser Notice by Company;
provided that if the Transfer pursuant to the Proposed Private Sale Purchaser pursuant to the Purchaser Notice constitutes a “take-over
bid” under applicable Canadian securities laws, the proposed Transfer as described in the Purchaser Notice must be an exempt
take-over bid as provided in Part 4 of National Instrument 62-104 of the Canadian Securities Administrators (“NI 62-104”)
otherwise the Proposed Private Sale Notice shall be ineffective;

 

		(c)	Executive shall in good faith negotiate with one or more of the Private Sale Purchasers the transaction
terms for the Proposed Private Sale as soon as reasonably practicable following delivery of the Purchaser Notice by Company; and

 

		(d)	in the event that a Purchaser Notice is delivered by Executive, and Executive and one or more Private
Sale Purchasers agree on terms of sale pursuant to Section 3(i)(c), Executive shall be required to complete the Proposed Private
Sale with the Private Sale Purchaser(s).

 

		(ii)	In the event that Company fails to identify a Private Sale Purchaser within the Proposed Private Sale
Period, or Executive, acting reasonably, is unable to agree to transaction terms with the Private Sale Purchaser within thirty
calendar days of receipt of the Purchaser Notice, then Executive may Transfer the common shares that were the subject of the applicable
Proposed Private Sale Notice for a price and other terms that are not more favourable to the purchaser than as provided in the
Proposed Private Sale Notice, provided that if Executive does not complete the Proposed Private Sale within sixty days of the date
of the Proposed Private Sale Notice, the provisions of Sections 2 and 3 shall again apply to the subject common shares.

 

		4.	Voting. Executive shall: (i) vote all common shares he beneficially owns, or exercises control or direction over,
from time to time, at each Meeting in favor of matters proposed by the Board of Directors, including (w) where directors are
proposed to be elected, in support of Company’s nominees to the Board of Directors; (x) any offerings of treasury securities
proposed by Company, whether by way of private placement or public offering; (y) any approval, ratification or confirmation
of any security based compensation arrangement proposed by Company that is in accordance with TSX Venture Exchange requirements;
and (z) other matters proposed for stockholder approval by the Board of Directors at Meetings (collectively, “Approval
Matters”); and (ii) on the date of each Meeting, (x) attend the Meeting in person or by proxy such that all
common shares beneficially owned, or over which control or direction is exercised by, Executive, from time to time, are represented
at the Meeting, and (y) at the Meeting, vote such common shares in person or by proxy in favor of the Approval Matters, and
in favor of procedural actions or matters related to giving effect to Approval Matters (but in no event in contravention of such
matter). 

 

In respect of any Meeting, Executive will promptly, upon request by Company,
provide Company with either: (i) evidence that he has already submitted a proxy or voting instructions in accordance with
this Section 4; or (ii) an executed proxy or the information necessary to enable Company to complete voting instructions on
behalf of Executive. Executive shall also, if requested by Company, promptly execute a written consent proposed by Company in favor
of the Approval Matters.

 

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		5.	Other Activities. During the Term, the Executive shall not (except as permitted under Section 6 below):

 

		(i)	engage in any solicitation of proxies or consents or become a “participant” in a “solicitation” (as
such terms are defined in Regulation 14A under the Exchange Act) of proxies or consents (including, without limitation, any solicitation
of consents that seeks to call or requisition a Meeting of stockholders), in each case, with respect to securities of the Company;

 

		(ii)	form, join or in any way participate in any “group” (within the meaning of Section 13(d)(3) of the Exchange Act),
or act “jointly or in concert” with other persons, as defined in NI 62-104, with respect to the common shares of the
Company;

 

		(iii)	deposit any common shares of the Company in any voting trust or subject any common shares to any arrangement or agreement with
respect to the voting of any common shares, other than any such voting trust, arrangement or agreement in accordance with this
Agreement;

 

		(iv)	seek or submit, or knowingly encourage any person or entity, to seek or submit nomination(s) in furtherance of a contested
solicitation for the appointment, election or removal of directors with respect to the Company or seek, knowingly encourage or
take any other action with respect to the election or removal of any directors;

 

		(v)	(A) make any proposal for consideration by stockholders at any annual or special Meeting of stockholders of the Company,
(B) make any offer or proposal (with or without conditions) with respect to any merger, acquisition, recapitalization, restructuring,
disposition or other business combination involving the Company (an “Extraordinary Transaction”), (C) affirmatively
solicit a third party to make an offer or proposal (with or without conditions) with respect to any Extraordinary Transaction,
or publicly encourage, or support any third party in making such an offer or proposal, or (D) publicly comment on any third
party proposal regarding any Extraordinary Transaction with respect to the Company by such third party prior to such proposal becoming
public; provided that the foregoing shall not restrict Executive from tendering common shares, receiving payment for common shares
or otherwise participating in any such Extraordinary Transaction that has been approved by the Board;

 

		(vi)	except as permitted by this Agreement, seek, alone or in concert with others, representation on the Board;

 

		(vii)	advise, knowingly encourage, support or knowingly influence any person or entity with respect to the voting or disposition
of any securities of the Company at any Meeting of stockholders; or

 

		(viii)	make any request or submit any proposal to amend the terms of this Agreement other than through non-public communications with
the Company that would not be reasonably determined to trigger public disclosure obligations for any Party.

 

		6.	RESERVED. 

 

		7.	Regulatory Reporting.

 

		(i)	Each Party shall cooperate (including, without limitation, providing the other Parties with not less than 24 hours prior notice,
unless a shorter time is reasonably required by the circumstances) in connection with any regulatory filing that may be required
to be made in connection with the matters contemplated by this agreement, including, without limitation, any filing made pursuant
to Regulation 13D and Regulation 14A under the Exchange Act, or required filings under applicable Canadian securities laws.

 

		(ii)	Executive will be responsible for the filing any Schedule 13D or Schedule 13G that may be required of him.

 

		(iii)	Each of the Parties agrees that it shall be responsible for the completeness and accuracy of the information concerning it
and its Affiliates contained in any filing hereafter made pursuant to Section 13(d), Section 14(a) or Section 16 of the Exchange
Act, or any comparable filings required under Canadian securities laws, and hereby agrees to indemnify the other Party, from and
against any losses, damages, costs, expenses (including, without limitation, any reasonable and documented attorneys’ fees),
fines, penalties, disbursements and amounts paid in settlement arising out of any failure with respect to the completeness or accuracy
of such information. For the sake of clarity, it is understood and agreed that Equidebt and its Affiliates (including Wickfield
Capital) are not Affiliates of Executive.

 

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		8.	Termination. This Agreement shall remain in effect until the earlier of: (a) 11:59 p.m. (New York time) on the
day of completion of the second annual Meeting from and after the Effective Date (the “Term”); (b) Executive
ceasing to beneficially own, or exercise control or direction over, at least 10% of the outstanding common shares of Company; and
(c)  the date of termination by the mutual written agreement of the Parties; provided, if the Company fails to perform
any obligations set forth in the Separation Agreement, including the failure to make any payments thereunder as and when due after
any applicable notice and cure period, in accordance with the terms of the Separation Agreement, this Agreement shall automatically
terminate and be void, ab initio. Sections 7(iii) and 8 - 13 shall survive any termination of this Agreement.

 

		9.	Relationship of the Parties. Nothing in this Agreement shall be construed as creating among the Parties any joint venture,
partnership, association or other entity for any purpose (including, without limitation, for U.S. or Canadian income tax purposes)
or any agency relationship, nor shall any Party, except as expressly set forth in this Agreement, (i) have the right, power
or authority to create any obligation or duty, express or implied, on behalf of any other Party or (ii) have any fiduciary
or other duties to any other Party. Each Party agrees that it does not have any interest in the profits or losses of any other
Party in connection with its acquisition or deposition of any common shares of the Company; provided, that this sentence shall
not abrogate or limit any dividend, distribution or other payment (including payment due to Executive) in respect of his shares.

 

		10.	Equitable Remedies. Each Party acknowledges that (i) the other Party would be irreparably injured by a breach of
this Agreement, and (ii) monetary remedies may be inadequate to protect a Party against any actual or threatened breach or
continuation of any breach of this Agreement. Without prejudice to any other rights and remedies otherwise available to a Party
under this Agreement, (iii) each Party shall be entitled to equitable relief by way of injunction or specific performance
to prevent breach or threatened breaches of any of the provisions of this Agreement, without proof of actual damages; (iv) the
breaching Party shall not plead in defense thereto that there would be an adequate remedy at law; and (v) the breaching party
agrees to waive any applicable right or requirement that a bond or other security be posted by the non-breaching Party. Such remedies
shall not be the exclusive remedies for any breach of this Agreement but shall be in addition to all other remedies available at
law or in equity.

 

		11.	Notices. All notices, consents, requests, instructions, approvals or other communications provided for in this Agreement
shall be in writing and shall be deemed validly given or made when delivered in person, by electronic mail or by overnight courier;
provided that if delivered after normal business hours on business day of the recipient, it shall be deemed to be received at the
commencement of business on the next business day of the recipient. Notice shall be delivered as follows:

 

If to Company:

 

Zomedica Pharmaceuticals Corp.

100 Phoenix Drive, Suite 190

Ann Arbor, Michigan 48108

Attention: Chief Financial Officer

Email: srampertab@zomedica.com

 

If to Executive:

 

Gerald L. Solensky Jr.

4764 Old Orchard Trail

Ann Arbor, Michigan 48234

Email: Jerry.Solensky@yahoo.com

 

		12.	Definitions and Interpretation. For purposes of this Agreement:

 

		(i)	“Affiliate” means, with respect to a person, any other person which directly or indirectly through one or
more persons, Controls (as hereinafter defined), or is Controlled by, or is under common Control with, such specified person.

 

    	4

    

    

 

		(ii)	“beneficially own” or “beneficial ownership” with respect to any securities shall mean
having “beneficial ownership” of such securities as determined pursuant to Rule 13d-3 under the United States Securities
and Exchange Act, 1934 (the “Exchange Act”).

 

		(iii)	“Business Day” means a day other than a Saturday, Sunday or statutory holiday in the Cities of Detroit,
Michigan and Calgary, Alberta.

 

		(iv)	“Controls” (and related terms such as “Controlled by” or “under common Control
with”), as used with respect to any person, means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of such person, whether through the ownership of voting securities, by agreement or
otherwise.

 

In this Agreement, (i) headings are for convenience of reference and shall
not affect the interpretation of this Agreement; and (ii) a reference to the singular includes the plural and vice versa,
and a reference to gender includes all genders.

 

		13.	Miscellaneous. This Agreement (i) shall be governed by and construed in accordance with the laws of the State of
Michigan, and the Parties irrevocably attorn to the jurisdiction of courts of competent jurisdiction in the State of Michigan,
(ii) may not be assigned, amended, waived or modified except by a writing signed by each Party (or, with respect to a waiver,
the Party against whom such waiver is asserted), (iii) may be executed in any number of counterparts, each of which shall
be deemed an original but all of which together shall constitute one and the same instrument, (iv) together with the Separation
Agreement and the Consulting Agreement (as defined in the Separation Agreement) represents the entire agreement between the Parties
with respect to the subject matter of this Agreement, (v) is not intended to be enforceable by any person who is not a Party
to this Agreement, (vi) shall be binding upon the Parties and their respective heirs, administrators, successors and permitted
assigns; and (vii) shall be deemed the work product of both Parties, and may not be construed against any Party by reason
of its drafting or preparation. This Agreement, and any rights and obligations hereunder, may not be assigned by a Party without
the prior written consent of the other Party, which may be withheld for any reason. From time to time, at the reasonable request
of any Party and without further consideration, each Party shall execute and deliver such additional documents as may be necessary
or appropriate to consummate and make effective, in the most expeditious manner, the transactions contemplated by this Agreement;
provided, that this sentence shall not require any Party to incur any material liability or obligation without such Party’s
express prior written consent. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction,
the other provisions of this Agreement shall remain in full force and effect, to the extent not invalid or unenforceable.

 

[Remainder of page intentionally left blank]

 

 

 

 

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The Parties have caused this Agreement to be executed as of the day
and year first above written.

 

 

	 	 	Zomedica Pharmaceuticals Corp.
	 	 	 
	 	 	By:  	 /s/Shameze Rampertab
	 	 	Name:  	Shameze Rampertab
	 	 	Title:	Chief Financial Officer
	 	 	 
	 	 	 
	 	 	/s/Gerald L. Solensky, Jr.
	 	 	Gerald L. Solensky Jr.

 

 

 

 

 

 

 

 

 

 

 

 

[SIGNATURE PAGE TO COOPERATION AGREEMENT]

 

    	6

    

    

 

Schedule 1

 

	 	Party	Beneficially Owned Securities
	 	Gerald Solensky, Jr.	40,250,9361

 

 

(1)  Includes options to purchase 1,705,265 common shares.

 

 

 

 

 

 

 

 

 

7

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