Document:

Exhibit 4.3

 

(FACE OF SECURITY)

 

GLOBAL
SECURITY FOR MICROSECTORSTM FANG+TM ETNS DUE JANUARY
8, 2038

 

This Security will not constitute a deposit
that is insured under the Canada Deposit Insurance Corporation act or by the U.S. Federal Deposit Insurance Corporation.

 

THIS SECURITY IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE. 

 

UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO BANK OF
MONTREAL, OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
HAS AN INTEREST HEREIN. 

 

BY PURCHASING THIS SECURITY, THE HOLDER
AGREES TO CHARACTERIZE THIS SECURITY FOR ALL U.S. FEDERAL INCOME TAX PURPOSES AS PROVIDED IN SECTION 7 ON THE FACE OF THIS
SECURITY. 

 

THE PERSON MAKING THE DECISION TO ACQUIRE
THIS SECURITY SHALL BE DEEMED, ON BEHALF OF ITSELF AND THE HOLDER, BY ACQUIRING AND HOLDING THIS SECURITY OR EXERCISING ANY RIGHTS
RELATED THERETO, TO REPRESENT THAT: 

 

		(i)	THE FUNDS THAT THE HOLDER IS USING TO ACQUIRE THIS SECURITY ARE NOT THE ASSETS OF AN EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE
I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), A PLAN DESCRIBED IN AND SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), A GOVERNMENTAL PLAN SUBJECT TO ANY FEDERAL,
STATE OR LOCAL LAW THAT IS SIMILAR TO THE PROVISIONS OF SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE, OR AN ENTITY WHOSE UNDERLYING
ASSETS INCLUDE “PLAN ASSETS” BY REASON OF DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION
3(42) OF ERISA, OR OTHERWISE; OR 

 

    	 		 

    	 

    

 

		(ii)	(A) NEITHER THE PURCHASE, HOLDING OR DISPOSITION OF THIS SECURITY OR THE EXERCISE OF ANY RIGHTS RELATED TO THIS SECURITY
WILL RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA OR THE CODE (OR WITH RESPECT TO A GOVERNMENTAL PLAN, UNDER ANY SIMILAR
APPLICABLE LAW OR REGULATION); AND (B) NEITHER BANK OF MONTREAL NOR ANY OF ITS AFFILIATES IS A “FIDUCIARY” (WITHIN
THE MEANING OF SECTION 3(21) OF ERISA OR, WITH RESPECT TO A GOVERNMENTAL PLAN, UNDER ANY SIMILAR APPLICABLE LAW OR REGULATION)
WITH RESPECT TO THE PURCHASER OR HOLDER IN CONNECTION WITH SUCH PERSON’S ACQUISITION, DISPOSITION OR HOLDING OF THIS SECURITY,
OR AS A RESULT OF ANY EXERCISE BY BANK OF MONTREAL OR ANY OF ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THIS SECURITY, AND
NO ADVICE PROVIDED BY BANK OF MONTREAL OR ANY OF ITS AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON
BEHALF OF SUCH PURCHASER OR HOLDER IN CONNECTION WITH THIS SECURITY AND THE TRANSACTIONS CONTEMPLATED WITH RESPECT TO THIS SECURITY;
AND

 

		(iii)	IF THE HOLDER IS USING FUNDS TO ACQUIRE THIS SECURITY THAT ARE THE ASSETS OF AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF ERISA) THAT IS SUBJECT TO PART 4 OF TITLE I OF ERISA, A PLAN DESCRIBED IN AND SUBJECT TO SECTION 4975 OF THE CODE, OR AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA (A “BENEFIT PLAN INVESTOR”), SUCH BENEFIT PLAN INVESTOR, INCLUDING ANY FIDUCIARY PURCHASING THIS SECURITY ON BEHALF OF A BENEFIT PLAN INVESTOR (THE “PLAN FIDUCIARY”) REPRESENTS THAT (I) NONE OF THE ISSUER, NOR ANY AGENT OR UNDERWRITER, NOR ANY OF THEIR RESPECTIVE AFFILIATES (THE “TRANSACTION PARTIES”), HAS PROVIDED OR WILL PROVIDE ADVICE WITH RESPECT TO THE ACQUISITION OF THIS SECURITY BY THE BENEFIT PLAN INVESTOR, OTHER THAN TO THE PLAN FIDUCIARY WHICH IS INDEPENDENT OF THE TRANSACTION PARTIES, AND THE PLAN FIDUCIARY EITHER: (A) IS A BANK AS DEFINED IN SECTION 202 OF THE INVESTMENT ADVISERS ACT OF 1940 (THE “ADVISERS ACT”), OR SIMILAR INSTITUTION THAT IS REGULATED AND SUPERVISED AND SUBJECT TO PERIODIC EXAMINATION BY A STATE OR FEDERAL AGENCY; (B) IS AN INSURANCE CARRIER WHICH IS QUALIFIED UNDER THE LAWS OF MORE THAN ONE STATE TO PERFORM THE SERVICES OF MANAGING, ACQUIRING OR DISPOSING OF ASSETS OF A BENEFIT PLAN INVESTOR; (C) IS AN INVESTMENT ADVISER REGISTERED UNDER THE ADVISERS ACT, OR, IF NOT REGISTERED AS AN INVESTMENT ADVISER UNDER THE ADVISERS ACT BY REASON OF PARAGRAPH (1) OF SECTION 203A OF THE ADVISERS ACT, IS REGISTERED AS AN INVESTMENT ADVISER UNDER THE LAWS OF THE STATE IN WHICH IT MAINTAINS ITS

 

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                                                                            PRINCIPAL OFFICE AND PLACE OF BUSINESS; (D) IS A BROKER-DEALER REGISTERED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED; OR (E) HAS, AND AT ALL TIMES THAT THE BENEFIT PLAN INVESTOR IS INVESTED IN THIS SECURITY WILL HAVE, TOTAL ASSETS OF AT LEAST U.S. $50,000,000 UNDER ITS MANAGEMENT OR CONTROL (PROVIDED THAT THIS CLAUSE (E) SHALL NOT BE SATISFIED IF THE PLAN FIDUCIARY IS EITHER (1) THE OWNER OR A RELATIVE OF THE OWNER OF AN INVESTING INDIVIDUAL RETIREMENT ACCOUNT OR (2) A PARTICIPANT OR BENEFICIARY OF THE BENEFIT PLAN INVESTOR INVESTING IN THIS SECURITY IN SUCH CAPACITY); (II) THE PLAN FIDUCIARY IS CAPABLE OF EVALUATING INVESTMENT RISKS INDEPENDENTLY, BOTH IN GENERAL AND WITH RESPECT TO PARTICULAR TRANSACTIONS AND INVESTMENT STRATEGIES, INCLUDING THE ACQUISITION BY THE BENEFIT PLAN INVESTOR OF THIS SECURITY; (III) THE PLAN FIDUCIARY IS A “FIDUCIARY” WITH RESPECT TO THE BENEFIT PLAN INVESTOR WITHIN THE MEANING OF SECTION 3(21) OF ERISA, SECTION 4975 OF THE CODE, OR BOTH, AND IS RESPONSIBLE FOR EXERCISING INDEPENDENT JUDGMENT IN EVALUATING THE BENEFIT PLAN INVESTOR’S ACQUISITION OF THIS SECURITY; (IV) NONE OF THE TRANSACTION PARTIES HAS EXERCISED ANY AUTHORITY TO CAUSE THE BENEFIT PLAN INVESTOR TO INVEST IN THIS SECURITY OR TO NEGOTIATE THE TERMS OF THE BENEFIT PLAN INVESTOR’S INVESTMENT IN THIS SECURITY; AND (V) THE PLAN FIDUCIARY HAS BEEN INFORMED BY THE TRANSACTION PARTIES: (A) THAT NONE OF THE TRANSACTION PARTIES IS UNDERTAKING TO PROVIDE IMPARTIAL INVESTMENT ADVICE OR TO GIVE ADVICE IN A FIDUCIARY CAPACITY IN CONNECTION WITH THE BENEFIT PLAN INVESTOR’S ACQUISITION OF THIS SECURITY; AND (B) OF THE EXISTENCE AND NATURE OF THE TRANSACTION PARTIES FINANCIAL INTERESTS IN THE BENEFIT PLAN INVESTOR’S ACQUISITION OF THIS SECURITY.

 

(Face of Security continued on next page)

 

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CUSIP No.: 06368B504

 

ISIN: US06368B5049

bank
of MONTREAL 

 

MEDIUM-TERM NOTES, SERIES
E

 

	
     

    MicroSectorsTM FANG+TM ETNs due January 8, 2038
     

    

 

The following terms apply to this Security.
Capitalized terms that are not defined the first time they are used in this Security shall have the meanings indicated elsewhere
in this Security.

 

Principal Amount: $50 per Security;
the initial aggregate Principal Amount of this Security is equal to $30,000,000 (600,000 Securities). The aggregate Principal Amount
may be increased or decreased as set forth herein.

 

Index: NYSE FANG+TM Index, total
return

 

Initial Index Level: __________,
the closing level of the Index on the Initial Trade Date

 

Initial Trade Date: November 12,
2019

 

Denomination: $50 per Security

 

Interest Rate: The principal of this
Security shall not bear interest.

 

Payment at Maturity:  The holder
of each $50 Principal Amount of this Security shall receive a cash payment on the Maturity Date (the “Cash Settlement
Amount”) that shall be equal to the arithmetic mean of the closing Indicative
Note Values on each Index Business Day in the Final Measurement Period. The Cash Settlement
Amount shall not be less than zero.

 

Payment Upon Redemption by the Holder:
 Prior to the Maturity Date, the Holder may, subject to the procedural requirements in Section 5 hereof, elect to offer all
or a portion of the Principal Amount of this Security for repurchase by the Bank on any Redemption Date, subject to the repurchase
requirements and procedures set forth in Section 5 hereof. If the Holder fulfills the repurchase requirements and procedures in
Section 5 for a Redemption Date, the Bank shall be obligated to repurchase the Principal Amount of this Security so requested to
be repurchased on the Redemption Date. The Index Business Day immediately succeeding the applicable Redemption Notice Date shall
be the Redemption Measurement Date applicable to such repurchase, subject to adjustment as provided in Section 3 hereof. On the
Redemption Date, the Holder will receive the Redemption Amount.

 

Payment Upon Call by the Bank: The
Bank will have the right to repurchase this Security in whole but not in part on any Index Business Day to and including the Maturity
Date. To call the Securities for repurchase, the Bank will deliver an irrevocable call notice to The Depository Trust Company (“DTC”)
(as the Holder of this Global Security). If the Bank issues a call notice on any calendar day, the “Call Calculation Date”
will be the next Index Business Day after the call notice is issued.

 

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On the Call Settlement Date, the Holder
of this Security will receive the Call Settlement Amount.

 

Calculation Agent: BMO Capital Markets
Corp.

 

Defeasance: Neither full defeasance
nor covenant defeasance applies to this Security.

 

Listing: NYSE Arca, Inc.

 

OTHER TERMS

 

All terms used in this Security that are
not defined in this Security but are defined in the Indenture referred to on the reverse of this Security shall have the meanings
assigned to them in the Indenture. Section headings on the face of this Security are for convenience only and shall not affect
the construction of this Security.

 

An “Averaging Date” means
each of the Index Business Days during the Final Measurement Period or Call Measurement Period, as applicable, subject to adjustment
as described in Section 3 hereof.

 

A “Business Day” means
a Monday, Tuesday, Wednesday, Thursday or Friday that is neither a legal holiday nor a day on which banking institutions are authorized
or obligated by law or executive order to close in New York City or Toronto.

 

The “Calculation Date”
means December 29, 2037, unless such day is not an Index Business Day, in which case the Calculation Date will be the next Index
Business Day, subject to adjustment as provided in Section 3 hereof.

 

The “Call Measurement Period”
will be the five (5) Index Business Days from and including the Call Calculation Date, subject to adjustment as provided in Section
3 hereof.

 

“Call Settlement Amount”
means a cash payment per $50 Principal Amount of this Security equal to the arithmetic mean of the closing Indicative Note Values
on each Index Business Day in the Call Measurement Period. The Call Settlement Amount will not be less than zero.

 

The “Call Settlement Date”
means the fifth Business Day following the last Index Business Day in the Call Measurement Period.

 

A “Constituent Issuer”
means any of the issuers of the Index Constituents.

 

The “Daily Investor Fee”
was $0 on the Initial Trade Date. On any subsequent Exchange Business Day until maturity, call or redemption of this Security,
the Daily Investor Fee will equal the product of (a) the Indicative Note Value at the close of the immediately preceding Exchange
Business Day times (b) the Fee Rate divided by (c) 365 times (d) the number of calendar days since the last
Exchange Business Day.

 

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An “Exchange Business Day”
means any day on which the primary exchange or market for trading of this Security is scheduled to be open for trading.

 

The “Final Measurement Period”
means the five (5) Index Business Days from and including the Calculation Date, subject to adjustment as provided in Section 3
hereof.

 

The “Fee Rate” is 0.58%
per annum.

 

An “Index Business Day”
means any day on which the Index Sponsor publishes the Index Closing Level.

 

The “Index Closing Level”
on any Index Business Day means the closing level of the Index as published on Bloomberg under the ticker symbol “NYFANGT<Index>”,
subject to adjustment as provided in Section 3 hereof.

 

An “Index Constituent”
means the equity interests of the Constituent Issuer included in the Index.

 

The “Index Performance Factor”
on the Initial Trade Date was 1. On any subsequent Exchange Business Day until maturity, call or redemption of this Security, the
Index Performance Factor will equal (a) the Index Closing Level on such Exchange Business Day (or, if such day is not an Index
Business Day, the Index Closing Level on the immediately preceding Index Business Day) divided by (b) the Index Closing
Level on the immediately preceding Index Business Day, as determined by the Calculation Agent. If a Market Disruption Event occurs
or is continuing on any Index Business Day, the Calculation Agent will determine the Index Performance Factor for this Security
on each such Index Business Day using an appropriate closing level of the Index for each such Index Business Day taking into account
the nature and duration of such Market Disruption Event. Furthermore, if a Market Disruption Event occurs and is continuing with
respect to this Security on any Index Business Day or occurred or was continuing on the immediately preceding Index Business Day,
the calculation of the Index Performance Factor will be modified as set forth in Section 3.

 

“Index Sponsor” means
ICE Data Indices, LLC, or any successor.

 

The “Indicative Note Value”
of this Security on the Initial Trade Date was equal to the Principal Amount of $50. On any subsequent Exchange Business Day until
maturity, call or redemption of this Security, the closing Indicative Note Value will equal (a) the Long Index Amount on such Exchange
Business Day minus (b) the Daily Investor Fee on such Exchange Business Day; provided that if such calculation results in
a value equal to or less than $0, the closing Indicative Note Value will be $0; provided further that if the closing Indicative
Note Value is $0 on any Exchange Business Day or the Intraday Indicative Value at any time during an Exchange Business Day is equal
to or less than $0, then the Indicative Note Value on all future Exchange Business Days will be $0.

 

The “Intraday Indicative Value”
of this Security at any time during an Exchange Business Day will equal (a) the Intraday Long Index Amount minus (b) the
Daily Investor Fee; provided that if such calculation results in a value equal to or less than $0, the Intraday Indicative Value
will be $0. If the Intraday Indicative Value of this Security is equal to or less than $0 at any time on any Exchange Business
Day, then both the Intraday Indicative Value and the closing Indicative Note Value on that Exchange Business Day, and on all future
Exchange Business Days, will be $0. The Intraday Indicative Value is published by Bloomberg under the symbol FNGSIV.

 

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The “Intraday Long Index Amount”
of this Security will equal the product of (a) the closing Indicative Note Value on the immediately preceding Exchange Business
Day times (b) the Intraday Index Performance Factor.

 

The “Intraday Index Performance
Factor” of this Security will equal (a) the most recently published level of the Index divided by (b) the Index
Closing Level on the immediately preceding Index Business Day.

 

The “Long Index Amount”
of this Security on the Initial Trade Date was equal to the principal amount of $50. On any subsequent Exchange Business Day until
maturity, call or redemption of this Security, the Long Index Amount will equal the product of (a) the closing Indicative
Note Value on the immediately preceding Exchange Business Day times (b) the Index Performance Factor on such Exchange
Business Day.

 

A “Market Disruption Event”
means with respect to the Index, in each case as determined by the Calculation Agent in its sole discretion:

 

		(a)	the suspension, absence or material limitation of trading in a material number of the Index Constituents for more than two
hours or during the one-half hour before the close of trading in the applicable Primary Exchange or
Primary Exchanges;

 

		(b)	the suspension, absence or material limitation of trading in option or futures contracts relating to the Index or to a material
number of Index Constituents on a Related Exchange for more than two hours of trading or during the one-half hour before the close
of trading in that market;

 

		(c)	the Index is not published; or

 

		(d)	any other event, if the Calculation Agent determines in its sole discretion that the event materially interferes with the ability
of the Bank or any of its affiliates to unwind all or a material portion of a hedge with respect to this Security that the Bank
or its affiliates have effected or may effect.

 

The following events will not
be Market Disruption Events with respect to the Index:

 

		(a)	a limitation on the hours or numbers of days of trading, but only if the limitation results from an announced change in the
regular business hours of the Primary Exchange or Related Exchange; or

 

		(b)	a decision to permanently discontinue trading in the option or futures contracts relating to the Index or any Index Constituents.

 

For this purpose, an “absence of trading”
in the primary securities market on which option or futures contracts related to the Index or any Index Constituents are traded
will not include any time when that market is itself closed for trading under ordinary circumstances.

 

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Notwithstanding the occurrence of one or
more of the events described above, which may, in the Calculation Agent’s discretion, constitute a Market Disruption Event,
the Calculation Agent in its discretion may waive its right to postpone the determination of the Index Closing Level if it determines
that one or more of the above events has not and is not likely to materially impair its ability to determine the Index Closing
Level on any date.

 

“Maturity Date” means
the third Business Day following the last Index Business Day in the Final Measurement Period, which is scheduled to be January
8, 2038, unless that day is not a Business Day, in which case the Maturity Date will be the following Business Day, subject to
adjustment as provided in Sections 3 and 11 hereof.

 

“Primary Exchange” means,
with respect to each Index Constituent or each component underlying a successor index, the primary exchange or market of trading
such Index Constituent or such component underlying a successor index.

 

The “Redemption Amount”
means a cash payment on the relevant Redemption Date equal to the Indicative Note Value as of the Redemption Measurement Date,
minus the Redemption Fee Amount. The Redemption Amount will not be less than zero.

 

A “Redemption Confirmation”
is the confirmation of the Holder’s redemption delivered to the Bank.

 

A “Redemption Date” means
any Business Day until the last scheduled Index Business Day prior to the Calculation Date or Call Calculation Date, as applicable,
subject to compliance with Section 5 hereof. Any Redemption Date shall also be the third Business Day after the applicable Redemption
Measurement Date.

 

The “Redemption Fee Amount”
equals 0.125% of the Indicative Note Value, subject to the Bank’s right from time to time to reduce or waive the Redemption
Fee Amount in its sole discretion on a case-by-case basis.

 

The applicable “Redemption Measurement
Date” means the Index Business Day following the applicable Redemption Notice Date, subject to adjustment as provided
in Section 3 hereof.

 

A “Redemption
Notice” is the form provided by the Bank substantially in the form of Annex A to this
Security.

 

A “Redemption Notice Date”
will be the date that the applicable Redemption Notice and Redemption Confirmation are delivered in compliance with Section 5 hereof.
If such Redemption Notice or Redemption Confirmation is delivered on a day that is not an Index Business Day, then the Redemption
Notice Date shall be the next Index Business Day.

 

A “Related Exchange”
means, with respect to each Index Constituent or each component underlying a successor index, each exchange or quotation system
where trading has a material effect (as determined by the Calculation Agent) on the overall market for futures or options contracts
relating to such Index Constituent or such component underlying a successor index.

 

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		1.	Promise to Pay at Maturity or Upon Early Redemption or Call

 

Bank of Montreal, a Canadian chartered bank
(together with its successors and assigns, the “Bank”), for value received, hereby promises to pay (or cause
to be paid) to Cede & Co., as nominee for The Depository Trust Company, or registered assigns, the principal sum, calculated
as provided under (i) “Payment upon Redemption by the Holder” and elsewhere on the face of this Security on the
applicable Redemption Date, in the case of any Securities in respect of which a Holder exercises such Holder’s right to require
the Bank to repurchase such Holder’s Securities prior to the Maturity Date, (ii) “Payment upon Call by the Bank”
and elsewhere on the face of this Security on the applicable Call Settlement Date, in the case of any Securities in respect of
which the Bank exercises its right to repurchase all Securities prior to the Maturity Date or (iii) “Payment at Maturity”
and elsewhere on the face of this Security on the Maturity Date.

 

		2.	Payment of Interest

 

The principal of this Security shall not
bear interest.

 

		3.	Discontinuance or Modification of the Index; Market Disruption Event

 

If the Index Sponsor discontinues publication
of the Index and the Index Sponsor or anyone else publishes a substitute index that the Calculation Agent determines is comparable
to the Index, then the Calculation Agent will permanently replace the original Index with that substitute index (the “successor
index”) for all purposes, and all provisions described in the pricing supplement and product supplement relating to this
Security as applying to the Index will thereafter apply to the successor index instead. If the Calculation Agent replaces the original
Index with a successor index, then the Calculation Agent will determine the Cash Settlement Amount, Redemption Amount or Call Settlement
Amount, as applicable, by reference to the successor index.

 

If the Calculation Agent determines that
the publication of the Index is discontinued and there is no successor index, the Calculation Agent will determine the level of
the Index and thus the Cash Settlement Amount, Redemption Amount or Call Settlement Amount, as applicable, by a computation methodology
that the Calculation Agent determines will as closely as reasonably possible replicate the Index.

 

If the Calculation Agent determines that
the Index, the Index Constituents or the method of calculating the Index is changed at any time in any respect, including whether
the change is made by the Index Sponsor under its existing policies or following a modification of those policies, is due to the
publication of a successor index, is due to events affecting the Index Constituents or is due to any other reason and is not otherwise
reflected in the level of the Index by the Index Sponsor pursuant to the Index methodology, then the Calculation Agent will be
permitted (but not required) to make such adjustments in the Index or the method of its calculation as it believes are appropriate
to ensure that the Index Closing Level used to determine the Cash Settlement Amount, Redemption Amount or Call Settlement Amount,
as applicable, is equitable.

 

If a Market Disruption Event with respect
to this Security occurs or is continuing on any Index Business Day (for purposes of this paragraph, the “date of determination”)
or if a Market Disruption Event with respect to this Security occurred or was continuing on the Index Business Day immediately
preceding the date of determination, then the Index Performance Factor for this Security on the date of determination will be determined
as set forth in the pricing supplement and the product supplement.

 

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To the extent a Market Disruption Event
has occurred or is continuing on an Averaging Date or on a Redemption Measurement Date, the closing Indicative Note Value for such
Averaging Date or for such Redemption Measurement Date will be determined by the Calculation Agent or one of its affiliates on
the first succeeding Index Business Day on which a Market Disruption Event does not occur or is not continuing (the “Deferred
Averaging Date”) irrespective of whether, pursuant to such determination, the Deferred Averaging Date would fall on a date
originally scheduled to be an Averaging Date. If the postponement described in the preceding sentence results in the closing Indicative
Note Value being calculated on a day originally scheduled to be an Averaging Date, for purposes of determining the closing Indicative
Note Value on the Index Business Days during the Final Measurement Period or Call Measurement Period, or on a Redemption Measurement
Date, as applicable, the Calculation Agent or one of its affiliates, as the case may be, will apply the closing Indicative Note
Value for such Deferred Averaging Date (i) on the date(s) of the original Market Disruption Event and (ii) such Averaging Date.

 

In no event, however, will any postponement
pursuant to the two immediately preceding paragraphs result in the final Averaging Date or the Redemption Measurement Date, as
applicable, occurring more than three Index Business Days following the day originally scheduled to be such final Averaging Date
or Redemption Measurement Date. If the third Index Business Day following the date originally scheduled to be the final Averaging
Date, or the Redemption Measurement Date, as applicable, is not an Index Business Day or a Market Disruption Event has occurred
or is continuing on such third Index Business Day, the Calculation Agent or one of its affiliates will determine the Index Closing
Level to be used in the calculation of the closing Indicative Note Value based on its good faith estimate of the Index Closing
Level that would have prevailed on such third Index Business Day but for such Market Disruption Event.

 

		4.	Payment at Maturity or Upon Repurchase

 

The payment of this Security that becomes
due and payable on the Maturity Date, Call Settlement Date or a Redemption Date, as the case may be, shall be the cash amount that
must be paid to redeem this Security as provided herein under “Payment at Maturity,” “Payment Upon Redemption
by the Holder” and “Payment Upon Call by the Bank,” respectively. The payment of this Security that becomes due
and payable upon acceleration of the Maturity Date hereof after an Event of Default has occurred pursuant to the Indenture shall
be the payment as determined pursuant to Section 9 hereof. When the principal referred to in either of the two preceding sentences
has been paid as provided herein (or such payment has been made available), the principal of this Security shall be deemed to have
been paid in full, whether or not this Security shall have been surrendered for payment or cancellation. References to the payment
at maturity or upon repurchase of this Security on any day shall be deemed to mean the payment of cash that is payable on such
day as provided in this Security. This Security shall cease to be Outstanding as provided in the definition of such term in the
Indenture when the principal of this Security shall be deemed to have been paid in full as provided above.

 

    	 	10	 

    	 

    

 

		5.	Procedure for Early Redemption

 

Prior to the Maturity Date, the Holder may
elect to offer all or a portion of the Principal Amount of this Security for redemption by the Bank on any Redemption Date, in
a minimum of at least 25,000 Securities by following the procedures set forth below:

 

		·	cause its broker to deliver a Redemption Notice to the Bank via email no later than 2:00 p.m. (New York City time) on the Index
Business Day preceding the applicable Redemption Measurement Date;

 

		·	cause its broker to deliver the signed Redemption Confirmation to the Bank via e-mail in the specified form by 5:00 p.m. (New
York City time) on the same day. The Bank or its affiliate must acknowledge receipt in order for the Redemption Confirmation to
be effective;

 

		·	cause its broker to instruct its DTC custodian book a delivery vs. payment trade with respect to this Security on the applicable
Redemption Measurement Date at a price equal to the Redemption Amount; and

 

		·	cause its broker to make its DTC custodian deliver the trade as booked for settlement via DTC at or prior to 10:00 a.m. (New
York City time) on the applicable Redemption Date.

 

Any redemption instructions received in
compliance with the foregoing procedures shall be irrevocable and, upon compliance with the foregoing procedures, the Bank shall
be obliged to repurchase the principal amount of this Security so requested to be redeemed on the Redemption Date.

 

The Bank will act as paying agent in connection
with repurchases at the election of the Holder of this Security and upon such repurchase the Bank shall so advise the Trustee and
deliver the Principal Amount of this Security that is so repurchased to the Trustee for cancellation.

 

		6.	Role of Calculation Agent

 

BMO Capital Markets Corp., an affiliate
of the Bank, will act as the Calculation Agent for this Security. The Calculation Agent will make all determinations relating to
this Security, including the Index Performance Factor, the Index Closing Level on any Index Business Day on which such Index Closing
Level is to be determined during the term of this Security, the Indicative Note Value, the Long Index Amount, the Daily Investor
Fee, the Redemption Fee Amount, the Cash Settlement Amount, if any, the Redemption Amount, if any, and the Call Settlement Amount,
if any. The Calculation Agent will also be responsible for determining whether a Market Disruption Event has occurred, whether
the Index has been discontinued and whether there has been a material change in the Index. All determinations made by the Calculation
Agent will be at the sole discretion of the Calculation Agent and will, in the absence of manifest error, be conclusive for all
purposes and binding on the Holder and on the Bank. The Holder shall not be entitled to any compensation from the Bank for any
loss suffered as a result of any determinations or calculations made by the Calculation Agent.

 

    	 	11	 

    	 

    

 

The Calculation Agent will provide written
notice to the Trustee at its New York office, on which notice the Trustee may conclusively rely, of the amount to be paid at Maturity
or Call, or upon early redemption on or prior to 12:00 p.m., New York City time, on the Business Day immediately preceding the
Maturity Date, any Redemption Date or any Call Settlement Date, as applicable. Insofar as this Security provides for the Calculation
Agent to determine the matters specified in the preceding paragraph and all such other matters as may be specified elsewhere herein
as matters to be determined by the Calculation Agent, the Calculation Agent may do so from any source or sources of the kind contemplated
or otherwise permitted hereby notwithstanding that any one or more of such sources are the Calculation Agent, affiliates of the
Calculation Agent or affiliates of the Bank.

 

		7.	Tax Characterization

 

By its purchase of this Security, the Holder,
on behalf of itself and any other Person having a beneficial interest in this Security, hereby agrees with the Bank (in the absence
of a change in law or administrative or judicial ruling to the contrary) to treat this Security as a pre-paid cash-settled derivative
contract in respect of the Index for all U.S. federal income tax purposes.

 

		8.	Payment

 

Payment of any amount payable on this Security
will be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts. Payment will be made to an account designated by the Holder in writing to the Bank and the Trustee on
or before any Redemption Date or the last Index Business Day in the Call Measurement Period or the Final Measurement Period, as
applicable, and acceptable to the Bank or, if no such account is designated and acceptable as aforesaid, at the office or agency
of the Bank maintained for that purpose in The City of New York; provided, however, that payment on the Maturity
Date, any Redemption Date or the Call Settlement Date shall be made only upon surrender of this Security at such office or agency
(unless the Bank waives surrender). Notwithstanding the foregoing, if this Security is a Global Security, any payment may be made
pursuant to the Applicable Procedures of the Depositary as permitted in said Indenture.

 

All dollar amounts related to determination
of the Indicative Note Value, the Daily Investor Fee, the Long Index Amount, the Redemption Amount and Redemption Fee Amount, if
any, the Call Settlement Amount, if any, and the Cash Settlement Amount, if any, will be rounded to the nearest one-millionth,
with five ten-millionths rounded upward (e.g., .7654545 would be rounded up to .765455); and all dollar amounts paid on the aggregate
Principal Amount of this Security will be rounded to the nearest cent, with one-half cent rounded upward.

 

		9.	Default Amount Upon Acceleration of Maturity

 

In case an Event of Default with respect
to this Security shall have occurred and be continuing, the amount declared due and payable upon any acceleration of the maturity
of this Security will be determined by the Calculation Agent and will be an amount in cash equal to the Redemption Amount, calculated
as if the date of acceleration were the Redemption Measurement Date. For purposes of this calculation the Repurchase Fee Amount
shall be zero.

 

    	 	12	 

    	 

    

 

		10.	Split or Reverse Split of the Securities

 

If the Bank or the Calculation Agent decides
to initiate a split or reverse split, the Calculation Agent will issue a notice to Holders announcing the split or reverse split,
specifying the effective date of the split or reverse split. The Calculation Agent will determine the ratio of such split or reverse
split, as the case may be, using relevant market indicia, and will adjust the terms of this Security accordingly. Any adjustment
of the closing indicative value will be rounded to eight decimal places.

 

In the case of a reverse split, the Bank
reserves the right to address odd numbers of Securities (commonly referred to as “partials”) in a manner determined
by the Calculation Agent in its sole discretion.

 

The minimum number of Securities an investor
must offer for repurchase under Section 5 hereof will not change as a result of any split or reverse split of this Security, but
the stated Principal Amount of the Securities corresponding to such minimum number will change.

 

		11.	Extension of Maturity.

 

The Maturity Date may be extended at the
Bank’s option for up to two additional five-year periods. The Bank may only extend the scheduled Maturity Date for five years
at a time. If the Bank exercises its option to extend the maturity of this Security, the Bank will notify DTC and the Trustee at
least 45 but not more than 60 calendar days prior to the then scheduled Maturity Date. The Bank will provide that notice to
DTC and the Trustee in respect of each five-year extension of the scheduled Maturity Date of this Security.

 

		12.	Payment When Offices are Closed

 

Notwithstanding any provision of this Security
or of the Indenture, if, after giving effect to any provision of this Security governing the timing of payment hereunder of the
payment at maturity, call or redemption, payment of such amount would otherwise be due on this Security on a day (the “Specified
Day”) that is not a Business Day, such amount may be paid (or made available for payment) on the next succeeding Business
Day with the same force and effect as if such amount were paid on the Specified Day. The provisions of this Section shall apply
to this Security in lieu of the provisions of Section 113 of the Indenture.

 

		13.	Increases and Decreases of Principal Amount

 

At any
time after the initial issue date, the aggregate Principal Amount of this Security shall be the most recent amount set forth on
Schedule I hereto under the heading ”Principal Amount of this Security Following Such Increase or Decrease”, if applicable.
Upon receipt of a written instruction from the Bank instructing the Trustee to issue more Securities represented by this Security
and delivery of such Securities through the DTC book-entry system, the Trustee shall make notations on Schedule I to evidence
such issuance and the new aggregate Principal Amount represented by this Security. 

 

The Bank
may also instruct the Trustee to cancel Securities held by the Bank represented by this Security. Upon delivery of the Securities
to be cancelled through the DTC book-entry system, the Trustee shall make notations on Schedule I to evidence such cancellation
and the new aggregate Principal Amount represented by this Security.

 

    	 	13	 

    	 

    

 

The Trustee
may, as necessary, add additional pages of the same format to Schedule I, to evidence additional issuances, cancellations
and the aggregate Principal Amount represented by this Security, which additional pages shall constitute part of this Security
to the same extent as if they had been part of this Security at the initial issuance and authentication hereof.

 

		14.	Reverse of this Security

 

Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect
as if set forth at this place.

 

		15.	Certificate of Authentication

 

Unless the certificate of authentication
hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled
to any benefit under the Indenture or be valid or obligatory for any purpose.

 

    	 	14	 

    	 

    

 

IN WITNESS WHEREOF, the Bank has caused
this instrument to be duly executed.

 

	Dated:  November 15, 2019	Bank of Montreal
	 	 	 	 	 
	 	 	 	 	 
	 	 	Name:	Laurence Kaplan	 
	 	 	Title:	Cross-Asset Solutions,	 
	 	 	 	Managing Director & US Head	 

 

 

 

 

This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.

 

	Dated:  November 15, 2019	 
	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	Authorized Signatory	 

 

    	 	15	 

    	 

    

 

(Reverse of Security)

 

This Security is one of a duly authorized
issue of securities of the Bank (herein called the “Securities”), issued and to be issued in one or more series under
the Senior Indenture, dated as of January 25, 2010 (as supplemented by the First Supplemental Indenture, dated September 23, 2018,
and as it may be amended or supplemented from time to time, the “Indenture,” which term shall have the meaning assigned
to it in such instrument), between the Bank and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”,
which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Bank, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. Insofar as the provisions
of the Indenture may conflict with the provisions set forth on the face of this Security, the latter shall control for purposes
of this Security.

 

This Security is one of the series designated
on the face hereof limited in aggregate principal amount to $50,000,000, provided that the Bank may, without the consent of any
Holder, at any time and from time to time, increase such principal amount if in the future it determines that it may wish to sell
additional Securities of this series. References herein to “this series” mean the series designated on the face
hereof.

 

The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Bank and the rights of the
Holders of the Securities of each series to be affected under the Indenture at any time by the Bank and the Trustee with the consent
of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected, or in
certain cases the unanimous consent of each of such Holders. The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities
of such series, to waive compliance by the Bank with certain provisions of the Indenture and certain past defaults under the Indenture
and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder
and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

 

As provided in and subject to the provisions
of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture
or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given
the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less
than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity satisfactory
to the Trustee, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this
series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding,
for 90 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted
by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after
the respective due dates expressed herein.

 

    	 	16	 

    	 

    

 

No reference herein to the Indenture and
no provision of this Security or of the Indenture shall alter or impair the obligation of the Bank, which is absolute and unconditional,
to pay the principal of this Security as herein provided.

 

As provided in the Indenture and subject
to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender
of this Security for registration of transfer at the office or agency of the Bank in any place where the principal of and any premium
and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory
to the Bank and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon
one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount,
will be issued to the designated transferee or transferees.

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $50.00 and any integral multiple thereof. As provided in the Indenture
and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal
amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering
the same.

 

No service charge shall be made for any
such registration of transfer or exchange, but the Bank or the Trustee may require payment of a sum sufficient to cover any tax
or other governmental charge payable in connection therewith.

 

Prior to due presentment of this Security
for registration of transfer, the Bank, the Trustee and any agent of the Bank or the Trustee may treat the Person in whose name
this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Bank,
the Trustee nor any such agent shall be affected by notice to the contrary.

 

All terms used in this Security that are
defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

This Security is a Global Security and is
subject to the provisions of the Indenture relating to Global Securities, including the limitations in Section 305 thereof
on transfers and exchanges of Global Securities.

 

This Security and the Indenture shall
be governed by and construed in accordance with the laws of the State of New York. 

 

    	 	17	 

    	 

    

 

SCHEDULE I

 

The initial principal
amount of this Security is $30,000,000. The following increases or decreases in the Principal Amount of this Security have been
made:

 

	Date	Amount of Increase in 

Principal Amount of 

this Security	Amount of Decrease in 

Principal Amount of 

this Security	Principal Amount of this 

Security Following Such 

Increase or Decrease	Initials of Officer 

of Trustee
	 	$	$	$	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

    	 	I-1	 

    	 

    

 

ANNEX A

 

 

FORM OF NOTICE OF EARLY REDEMPTION

 

To: [     ].com

 

Subject: Notice of Early Redemption, CUSIP
No.: 06368B504

 

[BODY OF EMAIL]

 

Name of broker: [ ]

 

Name of beneficial holder: [ ]

 

Number of Notes to be redeemed: [ ]

 

Applicable Redemption Measurement Date:
[ ], 20[ ]

 

Broker Contact Name: [ ]

 

Broker Telephone #: [ ]

 

Broker DTC # (and any relevant sub-account):
[ ]

 

The undersigned acknowledges that in addition to any other requirements
specified in the pricing supplement relating to the notes being satisfied, the notes will not be redeemed unless (i) this notice
of redemption is delivered to BMO Capital Markets Corp. (“BMO Capital Markets”) by 2:00 p.m. (New York City time) on
the Index Business Day prior to the applicable Redemption Measurement Date; (ii) the confirmation, as completed and signed by the
undersigned is delivered to BMO Capital Markets by 5:00 p.m. (New York City time) on the same day the notice of redemption is delivered;
(iii) the undersigned has booked a delivery vs. payment (“DVP”) trade on the applicable Redemption Measurement Date,
facing BMO Capital Markets DTC 5257 and (iv) the undersigned instructs DTC to deliver the DVP trade to BMO Capital Markets as booked
for settlement via DTC at or prior to 10:00 a.m. (New York City time) on the applicable Redemption Date.

 

The undersigned further acknowledges that the undersigned has
read the section “Risk Factors — You will not know the Redemption Amount at the time you elect to request that we redeem
your notes” in the pricing supplement relating to the notes and the undersigned understands that it will be exposed to market
risk on the Redemption Measurement Date.

 

 

A-1hsdt-ex101_279.htm

EXHIBIT 10.1

Helius

 MEDICAL

 

 

 

August 29, 2019

 

 

Ms. Jennifer Laux

741 Meadowcreek Circle Lower Gwynedd, PA 19002

 

 

Re: Separation Agreement Dear Jen:

This letter sets forth the substance of the separation agreement (the "Agreement") which Helius Medical, Inc, (the "Company") is offering to you to aid in your employment transition. For purposes of this Agreement, references to the "Company" shall include affiliates of the Company.

 

I.Separation. Due to position elimination, your last day of work with the Company and your employment termination date will be Friday, August 30, 2019 (the "Separation Date"). The Company will not contest any claim that you might make for unemployment compensation benefits after that time.

2.Severance Payment. If you execute this Agreement, and fully comply with your obligations hereunder, the Company will make twenty-four severance payments to you in the bi-monthly, gross amount of $15,066.67 for twelve months following the Separation Date. These payments will be subject to standard payroll deductions and withholdings and will be made on the Company’s ordinary payroll dates, beginning with the first such date which occurs at least eight (8)  business days  following  the  Company's  receipt  of  your  executed  Agreement.  The Company is offering severance to you in reliance on Treasury Regulation Section 1.409A­ l(b)(9) and the short-term deferral exemption in Treasury Regulation Section l.409A-l(b)(4). Any payments made in reliance on Treasury Regulation Section l.409A-l(b)(4) will be made not later than November 15, 2020.  For  purposes  of Code Section 409A, your right to receive any installment payments under this letter (whether severance payments, reimbursements  or  otherwise)  shall  be  treated  as  a right to receive a series of separate payments and,  accordingly,  each  installment payment hereunder shall at all times be considered a separate and distinct payment.

 

3.Benefit Plans. If you are currently participating in the Company's group health insurance plans, your participation in the plan will end on August 31, 2019. Thereafter, you may continue participation in Helius' group medical and dental plans in accordance with the provisions offered under the Consolidated Omnibus Budget Reconciliation Act (COBRA). Notification of COBRA continuation and the ability to elect for such coverage has been provided under separate cover. Notwithstanding the above, your participation in Helius' group life insurance and long-term disability insurance will cease as of August 31, 2019.

4.401(k) Retirement Plan. If you participate in the Company's 401(k) retirement plan, deductions for the 401(k) Plan will end with your last regular paycheck on August 30, 2019. You will receive information by mail concerning 40l(k) plan rollover procedures should you be a participant in this program.

 

5.Stock Options. The 150,000 options granted to you under the 2018 Omnibus Stock Incentive Plan will fully vest as of your Separation Date. You will have 90 days from your Separation Date to exercise your vested options.

 

6.Other Compensation or Benefits. You acknowledge that, except as expressly provided in this Agreement, you will not receive any additional compensation, severance, incentive pay, vacation pay, or any other benefits after the Separation Date.

 

7.Expense Reimbursements. You agree that, within ten (10) days of the Separation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement. The Company will reimburse you for reasonable business expenses pursuant to its regular business practice.

 

8.Return of Company Property. By September 5, 2019, you agree to return to the Company all Company documents (and all copies thereof) and other Company property that you have had in your possession at any time, including, but not limited to, Company files, notes, drawings, records, business plans and  forecasts, financial information, specifications, computer-recorded information, tangible property (including, but not limited to, computers),  credit  cards,  entry cards, identification badges and keys; and, any materials of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof). Please coordinate return of Company property with Human Resources. Receipt of the severance benefits described in Section 3 of this Agreement is expressly conditioned upon return of all Company Property.

 

9.Proprietary Information and Post-Termination Obligations. Both during and after your employment you will refrain from any unauthorized use or disclosure of the Company's proprietary or confidential information or materials. Confidential information that is also a "trade secret," as defined by law, may be disclosed (A) if it is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney  and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. In addition, in the event that you file a lawsuit for retaliation by the Company for reporting a suspected violation of law, you may disclose the trade secret to your attorney and use the trade secret information  in the court  proceeding, if you: (A) file any document containing the trade secret under seal; and (B) do not disclose the trade secret, except pursuant to court order.

 

10.Confidentiality. The provisions of this Agreement will be held in strictest confidence by you and will not be publicized or disclosed in any manner whatsoever; provided, however, that: (a) you may disclose this Agreement to your immediate family; (b) you may disclose this Agreement in confidence to your attorney, accountant, auditor, tax preparer, and financial advisor; and (c) you may disclose this Agreement insofar as such disclosure may be required by law , so long as you first provide Company ,with written notice of your intent to make such disclosure at least five business days prior to such disclosure, to the extent not prohibited by law. Notwithstanding the foregoing, nothing in this Agreement shall limit your right to voluntarily communicate, without prior notice to the Company, with the Equal Employment Opportunity Commission, United States Department of Labor, the National Labor Relations Board, the Securities and Exchange Commission, other federal government agency or similar state or local agency or to discuss the terms and conditions of yow- employment with others to the extent expressly permitted by Section 7 of the National Labor Relations Act.

 

	
 
	
11.
	
Non-Disparagement. You agree not to disparage the Company, and the Company's attorneys, officers, directors, managers, partners, employees, agents and affiliates, in any manner likely to be harmful to them or their business, 
	
 

	
 
		
business reputation or personal reputation; provided that you  may  respond accurately and fully to any question, inquiry or request for information  when required by legal process. Notwithstanding the  foregoing,  nothing  in  this Agreement shall limit your right to voluntarily communicate with the Equal Employment Opportunity Commission , United States Department of Labor, the National Labor Relations Board, the Securities and Exchange Commission, other federal government agency or similar state or local agency or  to discuss the terms and conditions  of your employment  with others to the extent expressly  permitted by Section 7 of the National Labor Relations Act   Similarly, the Company will instruct the current Officers of the Company, Philippe Deschamps, Jonathan Sackier, and Joyce LaViscount not to make any statements which are intended or  reasonably likely to disparage you in any manner likely to be harmful to you or your business, business reputation or personal reputation.
	
 

 

12.Cooperation after Termination. During the time that you are receiving payments under this Agreement, you agree to cooperate fully with the Company in all matters relating to the transition  of  your work and responsibilities  on behalf of the Company , including, but not limited to, any present, prior or subsequent relationships and the orderly transfer of any such work and institutional knowledge to such other persons as may be designated by the Company, by making yourself reasonably available during regular business hours.

13.Covenant not to Voluntarily Participate in Claims Against the Company. Except as set forth in Section 14, you agree not to voluntarily assist or participate in any way in the filing, reporting or prosecution by you or any third party of a proceeding or Claim (as defined in Section 14) against the Company Parties (as defined in Section 14).

 

14.Release. In exchange for the payments and  other  consideration  under this Agreement, to which you would not otherwise be entitled, and except as otherwise set forth in this Agreement, you, on behalf of yourself and, to the extent permitted by law, on behalf of your spouse,  heirs,  executors,  administrators, assigns, insurers, attorneys and other  persons or entities, acting or purporting to act on your behalf (collectively, the "Employee Parties"), hereby generally and completely release, acquit and forever discharge the Company, its parents and subsidiaries, and its and their officers, directors, managers, partners, agents, representatives, employees, attorneys, shareholders, predecessors,  successors, assigns, insurers and affiliates (the "Company Parties") of and from any and all claims, liabilities, demands , contentions, actions, causes of action, suits, costs, expenses, attorneys' fees, damages, indemnities,  debts,  judgments,  levies, executions and obligations of every kind and nature, in law, equity,  or otherwise, both known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to agreements, events, acts or conduct  at  any time prior to and including the execution date of this Agreement, including but not limited to: all such claims and demands directly  or indirectly  arising  out of  or in any way connected with your employment with the Company or the termination of that employment; claims or demands related to salary, bonuses, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form  of compensation; claims pursuant to any federal, state or local law, statute, or cause of action; tort law; or contract law (individually a "Claim" and collectively "Claims") . The Claims you are releasing and waiving in this Agreement include, but are not limited to, any and all Claims that any of the Company Parties:

 

	
 
	
•
	
has violated its personnel policies, handbooks, contracts of employment, or covenants of good faith and fair dealing;
	
 

•has discriminated against you on the basis of age, race, color, sex (including sexual harassment), national origin, ancestry, disability, religion, sexual orientation, marital status, parental status, source of income, entitlement to benefits, any union activities or other protected category in 

violation of any local, state or federal law, constitution, ordinance, or regulation, including but not limited to: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; 42 U S.C. § 1981, as amended; the Equal Pay Act; the Americans With Disabilities Act; the Genetic Information Nondiscrimination Act; the Family and Medical Leave Act; the Pennsylvania Human Relations Act; the Pennsylvania Equal Pay Law; the Pennsylvania Wage Payment and Collection Law; the Pennsylvania Whistleblower Law; the Employee Retirement Income Security Act; the Employee Polygraph Protection Act; the Worker Adjustment and Retraining Notification Act; the Older Workers Benefit Protection Act; the anti­ retaliation provisions of the Sarbanes-Oxley Act, or any  other  federal  or state law regarding whistleblower retaliation; the Lilly Ledbetter Fair Pay Act; the Uniformed Services Employment and Reemployment Rights  Act; the Fair Credit Reporting Act; and the National Labor Relations Act; has violated any statute, public policy or common law (including but not limited to Claims for retaliatory discharge; negligent hiring, retention or supervision; defamation; intentional or negligent infliction of emotional distress and/or mental anguish; intentional interference with contract; negligence; detrimental reliance; loss  of consortium  to you  or any member of your family and/or promissory estoppel).

 

Notwithstanding the foregoing, other than events expressly contemplated by this Agreement you do not waive or release rights or Claims that may arise from events that occur after the date this waiver is executed. Also excluded from this Agreement are any Claims which cannot be waived by law, including, without limitation, any rights you may have under applicable workers' compensation laws and your right, if applicable, to file or participate in an investigative proceeding of  any  federal,  state or local governmental agency. Nothing in this Agreement shall prevent you from filing, cooperating with, or participating in any proceeding  or investigation  before the Equal Employment Opportunity Commission, United States Department  of Labor, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal government agency, or similar state or local agency ("Government Agencies"), or exercising any rights pursuant to Section 7 of  the National  Labor Relations  Act. You further understand this Agreement does not limit your ability to voluntarily communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without  notice  to  the Company. While this Agreement does not limit your right to receive an award for information provided to the Securities and Exchange Commission, you understand and agree that, you are othe1wise waiving, to the fullest extent  permitted  by  law, any and all rights you may have to individual relief based on any Claims that you have released and any rights you have waived by signing this Agreement. If any Claim is not subject to release, to the extent  permitted  by law,  you waive any  right or ability to be a class or collective action representative or to otherwise participate in any putative or certified class, collective or multi-party  action  or  proceeding based on such a Claim in which any of the Company Parties is a party. This Agreement does not abrogate your existing rights under any Company benefit  plan or any plan or agreement related to equity ownership in the Company; however, it does waive, release and forever discharge Claims existing as  of  the  date  you execute this Agreement pursuant to any such plan or agreement.

 

15.Your Acknowledgments and Affirmations.You acknowledge and agree that (i) the consideration given to you in exchange for the waiver and release in this Agreement is in addition to anything of value to which you were already entitled; (ii) that you have been paid for all time worked, have received  all the leave, leaves of absence and leave benefits and protections for which you  are eligible, and have not suffered any on-the-job injury for which you have not already filed a Claim; (iii) you have been given 60 days from the date of this Agreement to read and consider the terms set forth in this Agreement and to consult an attorney or advisor of your choosing; and (iv) you are knowingly and voluntarily executing this Agreement waiving and releasing any Claims you may have as of the date you execute it. You affirm that all of 

the decisions of the Company  Parties  regarding your pay and benefits through the date of  your execution  of this Agreement  were not discriminatory based on age, disability, race, color, sex, religion, national origin or any other classification protected by law. You affirm that you have not filed or caused to be filed, and are not presently a party to, a Claim against any of the Company Parties. You further affirm that you have no known workplace injuries or occupational diseases. You acknowledge and affirm that you have not  been retaliated against for reporting any allegation of corporate fraud  or  other wrongdoing by any of the Company Parties, or for exercising  any  rights protected by law, including any rights protected by the Fair Labor Standards Act, the Family Medical Leave Act, or any related statute or local leave  or  disability  accommodation laws, or any applicable state workers' compensation law .

 

16.No Admission. This Agreement does not constitute an admission by the Company of any wrongful action or violation  of any federal, state, or local statute,  or common law rights, including those relating to the provisions of any law  or statute concerning employment actions, or of any other  possible  or  claimed violation of law or rights.

 

17.Breach. You agree that upon any breach of this Agreement you will repay all amounts paid and/or forfeit any remaining amounts owing to you under this Agreement. Further, you acknowledge that it may be impossible to assess the damages caused by your violation of the terms of Sections 9, 10, 11 and 13 of this Agreement and Section 7 of the Employment Agreement  ("Employment Agreement") between you and the Company dated July 9, 2019 and further  agree that any threatened or actual violation or breach of those Sections of this Agreement or Section 7 of the Employment Agreement will constitute immediate  and irreparable injury to the Company. You therefore agree that any such breach of this Agreement or the Employment Agreement is a material breach of this Agreement, and, in addition to any and all other damages and remedies available to the Company upon your breach of this Agreement, the Company shall be entitled to an injunction to prevent you from violating or breaching this Agreement.  You  agree that if the Company is successful in whole or part in any legal or equitable action against you under this Agreement, you agree to pay all of the costs, including reasonable attorneys' fees, incurred by the Company in enforcing the terms of this Agreement.

 

18.Miscellaneous. This Agreement constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company withregard to this subject matter. It is entered without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company. This Agreement will bind the heirs, personal

representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified by the court so as to be rendered enforceable. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the Commonwealth of Pennsylvania as applied to contracts made and to be performed entirely within Pennsylvania.

 

If this Agreement is acceptable to you, please sign below and return it to Ellyn Ito, VP Human Resources, on or before October 30, 2019. The Company's offer contained herein will automatically expire if we do not receive the fully signed Agreement within this timeframe.

 

I wish you good luck in your future endeavors. 

 

 

 

Sincerely,

HELIUS MEDICAL, INC

 

By: /s/ Joyce LaViscount

 

AGREED AND ACCEPTED:

 

/s/ Jennifer Laux 9/15/19

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