Document:

Exhibit 10.7

 

 

EMPLOYMENT AGREEMENT

 

		1.	Parties; Effective Date. This Employment Agreement (“Agreement”) is between
ZoMedica Pharmaceuticals Inc., as well as its successors and assigns (the “Company”) and the undersigned employee,
his or her heirs, and personal representatives (“Employee” or “you”). This Agreement is effective on the
date last signed by the parties, but for the purposes of this Agreement shall be effective October 1, 2015.

 

		2.	Nature of Agreement.

 

		2.1	The Company is a manufacturer and distributor of pharmaceuticals in the veterinary field. Your
job responsibilities will be established by the Company, and may be modified at any time by the Company. These changes may be communicated
orally, or in writing.

 

		2.2	The Company hereby employs the Employee, and the Employee hereby agrees to be employed by the Company,
upon the terms and subject to the conditions contained in this Agreement during the Employment Term (defined below). During the
Employment Term, the Employee shall perform to the best of the Employee's abilities the Employee's duties hereunder, and shall
use the Employee's best efforts to promote the interests of the Company.

 

		2.3	The Employee shall have the position, duties and responsibilities set forth in Exhibit A to this
Agreement. The Employee shall also perform such functions as may be from time to time be designated by the Board of Directors of
the Company, not inconsistent with the duties and responsibilities described on Exhibit A to this Agreement.

 

		2.4	Both the Company and the Employee agree that it is in the best and mutual interests of both parties
that the Employee maintain a position in the clinical practice of veterinary medicine. Moreover, Employee shall maintain all applicable
licenses to practice clinical veterinary medicine in the State of Michigan, at his sole expense. Employee therefore agrees to devote
80% of his business time, and all best efforts and faithful performance to the Company while employed by the Company. You shall
not provide products or services similar to those of the Company (either directly or through any other company or entity), except
on behalf of the Company or any affiliate.

 

		3.	Compensation; Company Policies.

 

		3.1	During your employment, you will receive compensation. Your initial base salary (“Base
Salary”) shall be $250,000, with modifications to Base Salary and bonus as determined by the Company as part of its
annual review process, at its sole discretion.

 

		3.2	You are subject to current Company policies, including, without limitation, policies relating to
benefits, terms and conditions of employment, and any terms relating to or affecting the operation of the Company, including rules,
procedures and regulations required by the federal or state governments or their agencies. You agree that compliance with those
policies, terms and conditions is a condition of your employment with the Company.

 

     

     

    

		3.3	Employee shall be entitled three weeks paid vacation time, prorated in proportion to the percentage
of business time devoted to the Company. In addition, in accordance with the acknowledged offer letter, Employee shall be granted
five (5) sick days, and paid leave time on Federal Holidays specified.

 

		4.	Term. The term of this Agreement (the “Employment Term”) will
begin on the Effective Date and continue for [two (2) years], unless terminated prior to then in accordance with this Agreement.
This Agreement shall automatically be extended from year to year, in one (1) year terms, unless either party elects not to extend
this Agreement by providing written notice of such non-extension to the other party at least ninety (90) days prior to the end
of any current Employment Term.

 

		5.	Termination.

 

		5.1	Disability. If the Employee becomes disabled, the Company may terminate the Employment Term
upon written notice to the Employee. Except for: (i) Base Salary to be paid through the date of termination; and (ii) any bonus
allocable or payable prior to the date of termination. For purposes of this Agreement, Employee will be considered to be “Disabled”
or to be suffering from a “Disability” when the elimination period set forth in the long-term disability
policy applicable to Employee has expired and Employee has not returned to full-time employment.

 

		5.2	Death. If Employee dies during the Employment Term, the Company will have no further liability
or obligation to Employee or Employee's executors, administrators, heirs, assigns, or any other person claiming under or through
Employee except for: (i) Base Salary to be paid through the date of termination; and (ii) any bonus allocable or payable prior
to the date of termination.

 

		5.3	Cause. The Company may terminate the Employment Term for Cause, which term will include
only: (i) embezzlement of corporate assets; (ii) conviction of a misdemeanor involving theft, dishonesty or moral turpitude against
the Company; (iii) conviction of a felony; (iv) gross negligence or serious misconduct causing a material harm to the Company;
(v) a material breach of the terms of this Agreement upon failure to cure such breach within thirty (30) days of written notice
of such breach; or (vi) willful failure to substantially comply with any reasonable, proper and lawful duty (given the Employee's
position with the Company) which has been established by the Company's Board of Directors and detailed in writing to the Employee,
and the failure of the Employee to cure such noncompliance within thirty (30) days of written notice provided to the Employee by
the Company's Board of Directors. For the avoidance of doubt, termination under this Section 5.3 shall not alter Company's obligations
with respect to unpaid Base Salary, amounts payable to Employee under this Agreement prior to termination, unexercised stock options
previously granted to the Employee, benefits, and reimbursement for expenses (each accrued to the date of termination).

 

		5.4	Constructive Termination. If, during the Employment Term, (i) the Company terminates the
Employment Term without Cause, or (ii) the Company Constructively Terminates the Employment Term, then in either of such events
Company shall pay to the Employee:

 

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(i)                
the greater of (A) the Employee's Base Salary through the end of the Employment Term and (B) twenty-four (24) weeks
Base Salary (paid in accordance with the Company's usual payroll procedures); and (ii) any bonus allocable or payable prior to
the date of termination. The Constructive Termination compensation terms set forth in this Section 5.4 shall not in any manner
establish the damages that may be due to the Employee for any other breach of this Agreement by the Company.

 

As used in this Agreement, “Constructive Termination”
means Employee's demotion or reassignment to a position other than the position set forth in Section 2.3 and in Schedule A of this
Agreement or as may be altered in accordance with Section 2.3 of this Agreement, a material reduction in Employee's duties, responsibilities
or position (including, without limitation, loss of Employee's position on the Company's Board of Directors), a reduction in the
rate at which Employee's compensation is calculated and paid under Section 3 of this Agreement, or any relocation of Employee's
place of employment more than ten (10) miles away from the Ann Arbor, MI location.

 

		5.5	Voluntary Termination by the Employee. If the Employee voluntarily terminates the Employment
Term other than by reason of Constructive Termination, then the Employment Term shall terminate and the Employee shall be entitled
to: (i) the Employee's Base Salary through the date of termination; and (ii) any bonus allocable or payable prior to the date of
termination.

 

		6.	The Company's Intellectual Property Rights; Confidentiality.

 

		6.1	In the course of your employment with the Company, you may have access to information or materials
that are considered trade secret, confidential and/or proprietary by the Company (“Information”).Information permits
the development and commercialization of competitive and unique products and services, and is protected by the Company from unauthorized
use and disclosure. Information includes, but is not limited to, technical know-how, procedures, technical specifications, designs,
software (both object code and source code), results of testing, programmer documentation, protocols, processes, compilations of
data, strategic plans, sales and marketing plans, product plans, customer information, supplier information, financial information
and proposed agreements. Information also includes all written materials identified in writing as “Confidential” or
“Proprietary” or such similar proprietary legend, and oral information disclosed in connection with the Information.
Information also includes “Workproduct” identified and defined in Section 6.2 below. This Information relates to the
heart of the Company's operation and is protected from unauthorized use and disclosure. It is important for the Company, and for
the entities with whom it has contractual relationships, that the Information be maintained in confidence and only be disclosed
at the direction of the Company's officers and authorized agents.

 

		6.2	You agree that you will keep Information of the Company confidential. You agree that, unless otherwise
directed by the Company, during and after your employment you will not: (a) take, retain or use Information or Company materials
for your own benefit; (b) disclose Information to any other entity or unauthorized person without the written permission from a
Company officer; (c) delete, encrypt, password protect, or retain electronic files containing Information or Company materials
(including emails and attachments); or (d) take any other action that impairs, restricts, limits, or impedes the Company's ability
to have full access to and use of its Information and materials. In addition, upon termination of your employment with the Company,
you agree to return to the Company all Information and Company materials, and otherwise fully cooperate with and assist the Company
in ensuring the Company's ability to have full access to and use of its Information and materials. Such cooperation and assistance
may include, but is not limited to, removing any password protection, encryption or other proprietary format on Company Information
and/or materials.

 

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		6.3	You have no obligation to maintain as confidential any Information that is or becomes entirely
in the public domain, or is known to you prior to disclosure by the Company as evidenced by written, dated records in your possession,
or is received lawfully by you without the breach of any obligation of confidentiality owed to the Company. The fact that discrete
elements of Company confidential information may be in the public domain does not, by itself, remove from the protections of this
Agreement any Information combining such discrete elements with other information and technology.

 

		6.4	You may also have access to information that is considered confidential by third parties with whom
the Company does business, such as customers, suppliers, and consultants (“Clients”). Such Client information shall
be maintained as confidential in accordance with the procedures identified in this Section 6, all applicable laws, and any contractual
confidentiality obligations imposed by the Company's Clients. You also shall comply with any intellectual property provisions contained
in any of the Company's agreements with its Clients.

 

		6.5	The Company understands that its current employees may have had access to the trade secrets and
proprietary information of third parties (that is, persons or companies other than the Company) during their previous employment.
These other trade secrets may be owned by the former employers or by clients with whom those former employers did business. The
Company does not permit its employees to disclose, use or incorporate into the Company's Information, products or services, the
unlicensed trade secrets or proprietary information of third parties. You acknowledge the foregoing, and represent and warrant
that you will not disclose to the Company, or incorporate into the Company Information, products or services, any trade secrets
or proprietary information of third parties.

 

		6.6	The confidentiality provisions of this Agreement shall survive termination of the employment relationship
with the Company and shall survive for so long a period of time as the Information is maintained by the Company as confidential.

 

		7.	Disclosure and Ownership of Workproduct and Information.

 

		7.1	You agree to disclose promptly to the Company all ideas, inventions (whether patentable or not),
improvements, copyrightable works of original authorship (including but not limited to computer programs, compilations of information,
generation of data, graphic works, audio-visual materials, technical reports and the like), trademarks, know-how, trade secrets,
processes and other intellectual property, developed or discovered by you in the course of your employment relating to the business
of the Company, or which utilizes the Company Information or staff services (collectively, “Workproduct”).

 

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		7.2	Workproduct created by you within the scope of your employment, on Company time, or using Company
resources (including but not limited to facilities, staff, Information, time and funding), belongs to the Company and is not owned
by you individually. You agree that all Workproduct that constitute works of original authorship created during your employment
are “works made for hire” as that term is used in connection with the U.S. Copyright Act. To the extent that, by operation
of law, you retain any intellectual property rights in any Workproduct, you hereby assign to the Company all right, title and interest
in all such Workproduct, including copyrights, patents, trade secrets, trademarks and know-how.

 

		7.3	You agree to cooperate with the Company, at the Company's expense, in the protection of the Company
Information and the securing of the Company's proprietary rights, including signing any documents necessary to secure such rights,
whether during or after your employment with the Company, and regardless of the fact of any employment with a new company.

 

		8.	Nonsolicitation of Company Employees. You acknowledge that the relationships between the
Company and its employees are valuable assets of the Company. During your employment and for a period of two (2) years after termination
of your employment, you agree not to hire, use, or contract with (or to solicit for hire, use or to contract with) any individual(s)
employed by the Company, or who left their employment at the Company during your employment with the Company or within ninety (90)
days after your last day of employment (collectively, “Staff'). During your employment and for a period of two (2) years
after termination of your employment, you agree not to contact Staff (or have someone else contact Staff) for the purpose of terminating
their relationship with the Company or offering employment opportunities outside of the Company. Notwithstanding anything in this
Article 8 to the contrary, nothing in this Article 8 restricts Employee's actions with respect to employment or contracting that
results from employee-originated contacts or employee response to advertisements of general application.

 

		9.	Nonsolicitation of Company Customers. You acknowledge that the relationships between the
Company and its customers are valuable assets of the Company. During your employment and for a period of two (2) years after termination
of your employment, you agree that you will not contact (or have someone else contact) any then-current Company customer (or prospective
customer with whom the Employee is negotiating or preparing a proposal for products or services) (collectively, Company “Customers”)
for the purposes of: (a) inducing them to terminate their business relationship with the Company; (b) discouraging them from doing
business with the Company; or (c) offering products or services that are similar to or competitive with those of the Company. “Contact”
with any Customer includes responding to contact initiated by the Customer. These prohibitions cover solicitations or contact by
you whether on your own behalf, as an employee of a third party, as an independent contractor, as a consultant, or any other status.

 

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		10.	Prohibition of Work for Company Customers. Because of the valuable relationships the Company
has with its Customers, you agree that, during your employment and for a period of two (2) years after termination of your employment,
you will not provide products or services for, or accept a position with, any Company Customer to whom you or the Company provided
products and/or services while you were employed with the Company, unless specifically authorized in writing by a Company officer.
These prohibitions cover services provided by you whether as an employee for the Customer, employee for a third party, independent
contractor, consultant, or any other status.

 

		11.	Non-Competition. During your employment and for a period of two (2) years after termination
of your employment, you agree not to provide, either directly or indirectly, any services to any individual or entity whose business
includes providing any of the following Prohibited Services to others. This non-competition restriction is limited to individuals
and entities that are located in, or provide services in, the state or states in which you worked or provided services for the
Company during your employment. For the purposes of this Agreement, “Prohibited Services” shall mean any other services
provided by the Company. This non-competition restriction covers services provided by you whether as an employee for a Customer,
employee for a third party, independent contractor, consultant, or any other status.

 

		12.	Acknowledgment. You acknowledge that, due to your education and job skill, your adherence
to the terms of Sections 8 through 12 above will not deprive you of the opportunity to obtain gainful employment with other companies
serving different product or services markets, or that are not Customers of the Company, after the termination of your employment
with the Company.

 

		13.	Enforcement of Agreement; Injunctive Relief; Attorneys' Fees and Expenses. You acknowledge
that violation of this Agreement may cause immediate and irreparable damage to the Company, entitling it to injunctive relief.
You specifically consent to the issuance of temporary, preliminary, and permanent injunctive relief to enforce the terms of this
Agreement. In addition to injunctive relief, each party is entitled to all money damages available under the law.

 

		14.	Statute of Limitations. Intentionally omitted.

 

		15.	Forum Selection; Consent to Jurisdiction and Venue. The parties agree that any litigation
in relation to this Agreement and/or your employment shall be exclusively initiated and maintained in the Circuit Court of the
County of Washtenaw, Michigan, or the U.S. District Court for the Eastern District of Michigan, Southern Division. The parties
hereby irrevocably submit to the personal jurisdiction and venue in such courts. The parties agree that these courts are convenient
forums for any such litigation.

 

		16.	General.

 

		16.1	Notwithstanding anything in this Agreement to the contrary, if Company Constructively Terminates
Employee's employment with Company, or if Company terminates Employees employment without Cause, then the limitations of Articles
8 - 12 shall be null, void, and without effect.

 

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		16.2	This Agreement contains the entire understanding of you and the Company with respect to the subject
matter of your employment. The Agreement cannot be modified except by written agreement between the parties or as amended by the
Company as allowed by this Agreement. You represent that you have not been given any oral or written promises relating to employment
that are not contained in this Agreement, including in any amendments, which are made a part of this Agreement.

 

		16.3	This Agreement shall be construed in accordance with the laws of the State of Michigan (exclusive
of its choice of law rules), and the U.S. copyright, trademark, and patent laws.

 

		16.4	You may not assign this Agreement. This Agreement is binding upon your heirs and personal representative.
This Agreement shall inure to the benefit and be binding upon the Company's successors and assigns.

 

		16.5	The terms of this Agreement are deemed to be severable, with the effect that if any of the provisions
of this Agreement shall be held to be invalid or enforceable by any court of competent jurisdiction, such provision shall be enforced
to the fullest extent that it is valid and enforceable under applicable law, and all other provisions of this Agreement shall remain
in full force and effect.

 

		16.6	All provisions of this Agreement, excluding those in Section 2 and 3.1 above, shall survive termination
of your employment relationship with the Company.

 

		16.7	You acknowledge that you have had the opportunity to review this Agreement and to discuss it with
legal counsel if you choose.

 

		16.8	You agree that this Agreement is confidential and you will not disclose the terms and conditions
of this Agreement to any Company employee or other third party, other than your attorney, accountant, professional advisors and
members of you immediate family, except as may be permitted by applicable law.

 

THE PARTIES HAVE READ THE AGREEMENT,

UNDERSTAND ITS TERMS AND AGREE TO BE BOUND BY THEM.

 

AGREED AND ACCEPTED:

 

	“Company”	Employee
	ZoMedica Pharmaceuticals Inc.	 
	 	 
	By:	/s/ Gerald Solensky	By:	/s/ William C. MacArthur
	Name:	Gerald Solensky	Name:	William C. MacArthur
	Its:	Chairman/CEO	Date:	October 1, 2015

 

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Exhibit A

 

Position, Duties and Responsibilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

EMPLOYMENT AGREEMENT

 

Addendum

 

Upon completion of agreed upon goals, the employee will be issued
stock options according to the schedule below. Semi-annual performance goals will be agreed to by the corporate executives of the
company. Based upon approval by Board of Directors at time of issuance.

 

	Date of Issuance	Amount of Options
	April 1, 2016	900,000
	October 1, 2016	400,000
	April 1, 2017	500,000
	October 2, 2017	500,000

 

 

THE PARTIES HAVE READ THE AGREEMENT, UNDERSTAND ITS TERMS AND
AGREE TO BE BOUND BY THEM.

 

	
        AGREED AND ACCEPTED:

         

        “Company”

         

        ZoMedica Pharmaceuticals Inc.

         

        By: /s/ Gerald Solensky Jr.                   

Name: Gerald Solensky Jr.

Its: Chairman and CEO

         
	
         

         

        “Employee”

         

        William MacArthur, DVM

         

        By: /s/ William C. MacArthur                

Name: William C. MacArthur,

Date: October 1, 2015Exhibit 10.8

 

 

 

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

THIS
AGREEMENT is made effective as of the 1st day of February, 2017.

 

BETWEEN:

 

ZOMEDICA PHARMACEUTICALS INC.,
a body corporate duly incorporated pursuant to the laws of the State of Delaware and having an office in the City of Ann Arbor,
Michigan (hereinafter referred to as the "Corporation")

 

- and -

 

Robert
Dimarzo, an individual residing in Chappaqua, New York, USA (hereinafter referred to
as the "Executive")

 

ARTICLE
1

INTERPRETATION

 

		1.1	The
                                         phrase "this Agreement" shall include all terms and provisions of this agreement
                                         in writing between the parties hereto, including the recitals. 

 

		1.2	Wherever
                                         in this Agreement the masculine, feminine or neuter gender is used, it shall be construed
                                         as including all genders, as the context so requires; and wherever the singular number
                                         is used, it shall be deemed to include the plural and vice versa, where the context
                                         so requires. 

 

		1.3	Time
                                         shall in all respects be of the essence of this Agreement. 

 

		1.4	The
                                         division of this Agreement into Articles, Sections and subsections or any other divisions
                                         and the inclusion of headings are for convenience only and shall not affect the construction
                                         or interpretation of all or any part hereof. 

 

		1.5	Each
                                         party's rights may be exercised concurrently or separately and the exercise of any one
                                         remedy shall not be deemed an exclusive election of such remedy or preclude the exercise
                                         of any other remedy. 

 

ARTICLE
2

TERM OF AGREEMENT

 

		2.1	The
                                         term of this Agreement (the "Term") will begin on the date first written above
                                         (the "Effective Date") and continue for one (1) year, unless terminated prior
                                         to then in accordance with this Agreement. This Agreement shall automatically be extended
                                         from year to year, in one (1) year terms, unless either party elects not to extend this
                                         Agreement by providing written notice of such non-extension to the other party at least
                                         ninety (90) days prior to the end of any current Term.

 

     

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ARTICLE
3

EMPLOYMENT OF THE EXECUTIVE

 

		3.1	The
                                         Corporation wishes to employ at the Effective Date the Executive as EVP ("Executive
                                         Vice President) and the Executive wishes to be employed at the Effective Date by the
                                         Corporation on the terms and conditions set forth herein. 

 

		3.2	The
                                         Executive shall report directly to the Corporation's Chief Executive Officer (the "CEO").

 

ARTICLE
4

PERFORMANCE OF DUTIES

 

		4.1	The
                                         Executive agrees to devote his business time, attention, skill and efforts to the faithful
                                         performance and discharge of his duties and responsibilities as Executive Vice President
                                         of the Corporation in conformity with professional standards, in a prudent and workmanlike
                                         manner and in a manner consistent with the obligations imposed under applicable law.
                                         The Executive shall promote the interests of the Corporation and each other corporation
                                         or other organization which is controlled directly or indirectly by the Corporation and/or
                                         the Parent (as hereinafter defined) (each an "Affiliate" and collectively the
                                         "Affiliates") in carrying out the Executive's duties and responsibilities and
                                         shall not deliberately and knowingly take any action, or fail to take any action which
                                         failure could, or reasonably be expected to, have a material and adverse effect on the
                                         business of the Corporation or any of its Affiliates.

 

		4.2	The
                                         Executive and the Corporation agree that the Executive's principal place of business
                                         initially will be in New York and, further, that any reassignment of his principal place
                                         of business will be to a place in Europe mutually agreed upon by the Executive and the
                                         CEO. The Executive understands that his duties and responsibilities will require him
                                         to travel on a regular basis to Europe as well as to other locations in the world from
                                         time to time to further the business and interests of the Corporation.

 

		4.3	The
                                         Executive discloses, represents and affirms that he has no obligation toward any person
                                         or entity, including former employers, that would be incompatible with this Agreement
                                         or that could create an impediment to or conflict of interest with the performance of
                                         his duties with the Corporation and its affiliates.

 

		4.4	The
                                         Executive shall be appointed as Executive Vice President of the Corporation's parent
                                         company, Zomedica Pharmaceuticals Corp. (the "Parent"), an Alberta incorporated
                                         public company whose common shares are listed and posted for trading on the TSX Venture
                                         Exchange. The Executive shall receive no compensation for his services under this Section
                                         4.4 in addition to his compensation otherwise payable under this Agreement.

 

		4.5	The
                                         Corporation and the Executive agree that the Executive may continue to sit upon the board
                                         of directors of any corporations or organizations on which he serves on the Effective
                                         Date as long as the CEO and the Executive mutually agree that his membership on any such
                                         board of directors does not unreasonably interfere with the performance of Executive's
                                         duties and responsibilities under this Agreement and, solely with the prior written authorization
                                         of the CEO, the Executive may serve on any other board of directors.

 

ARTICLE
5

COMPENSATION

 

		5.1	Annual
                                         Base Salary. The Corporation shall pay the Executive a base annual salary (the "Base
                                         Salary") which initially shall be TWO HUNDRED AND FIFTEEN THOUSAND DOLLARS US (US$215,000),
                                         subject to applicable taxable withholding and deductions and payable in accordance with
                                         the Corporation's standard payroll practice for executive officers. The Base Salary shall
                                         be reviewed annually by the Board or a committee of the Board and may be increased in
                                         accordance with the Corporation's compensation policy.

 

     

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		5.2	Quarterly
                                         Cash Bonus. The Executive shall be eligible to earn a quarterly cash bonus (the "Quarterly
                                         Bonus"). Such Quarterly Bonus will be calculated upon the achievement of performance
                                         objectives that will be established by the Board (as recommended by the Corporation's
                                         Compensation Committee) within thirty (30) days prior to the beginning of a fiscal year.
                                         The granting of a Quarterly Bonus is also based on the business performance of the Corporation
                                         and subject to approval by the Board. The Quarterly Bonus, if any, payable for any calendar
                                         year shall be paid no later than 30 days following each Quarter. Finally, if the Executive's
                                         employment terminates (other than for Cause) on or after July 1 of a calendar year, he
                                         shall be entitled to the payment of a pro rata part of any Quarterly Bonus, which would
                                         have been payable if he had continued to be employed by the Corporation through the end
                                         of such calendar year.

 

		5.3	Monthly
                                         Allowance. The Corporation shall provide the Executive a monthly allowance in the
                                         amount of FOUR THOUSAND DOLLARS US (US$4,000), which shall be paid as an allowance in
                                         respect of the following items: (i) vehicle; (ii) insurance (medical, dental, vision)
                                         premiums; and (iii) tax preparation. The foregoing amount shall be allocated among the
                                         foregoing items in such manner as the Executive determines, subject to the approval of
                                         the CEO (acting reasonably).

 

		5.4	Business
                                         Expenses. The Corporation shall reimburse the Executive, upon presentation of valid
                                         receipts or vouchers, for reasonable entertainment, travel, telephone and other business
                                         expenses (including but not limited to expenses incurred in connection with computer
                                         repair/maintenance and office materials), incurred on behalf of or at the request of
                                         the Corporation or an Affiliate and which are in accordance with the Corporation's policies
                                         and rules; provided, however: (a) the amount of such expenses eligible for reimbursement
                                         in any calendar year shall not affect the expenses eligible for reimbursement in another
                                         calendar year; (b) no right to such reimbursement may be exchanged or liquidated
                                         for another benefit or payment; and (c) any reimbursements of such expenses shall
                                         be made as soon as practicable under the circumstances, but in any event no later than
                                         the end of the calendar year following the calendar year in which the related expenses
                                         are incurred by the Executive.

 

		5.5	Flight
                                         Expenditures. For greater certainty, it is acknowledged and agreed that, in the event
                                         that the Executive is required to travel by air to/from the United States to/from any
                                         of the following destinations in connection with the completion of his duties hereunder:
                                         (a) Europe; (b) South America; and (c) Asia Pacific; the Executive shall be entitled
                                         to fly "Business Class" (or an equivalent thereto). For any required travel
                                         within the United States, or to/from the United States to Canada and/or to Central America,
                                         the Executive shall (in the event that air travel is the most reasonable travel alternative)
                                         be entitled to fly "Economy Class" (or an equivalent thereto).

 

		5.6	OTHER
                                         BENEFITS. Subject to eligibility requirements and participation rules, the Executive
                                         may participate in all of the employee benefit plans maintained by the Corporation and
                                         its Affiliates that are available to employees whose principal place of business is the
                                         same as the Executive's principal place of business.

 

ARTICLE
6

VACATION

 

		6.1	The
                                         Executive shall be entitled to a paid annual vacation of three (3) weeks in accordance
                                         with the Corporation's vacation policy for executives. The Executive agrees that exercise
                                         of the vacation benefit shall be prearranged in consultation with the CEO. The full annual
                                         vacation benefit shall be extended to the Executive for 2017.

 

     

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		6.2	In
                                         addition to the foregoing, the Executive shall be entitled to up to five (5) business
                                         days' vacation during the period between December 25 and December 31 of each year, which
                                         days shall not count towards the three (3) week allotment set forth in Section 6.1.

 

ARTICLE
7

STOCK OPTIONS

 

		7.1	Initial
                                         Grant: Following the execution of this Agreement, the Executive shall be granted
                                         500,000 options to acquire common shares in the capital of the Parent, with the price
                                         and terms of such options to be established by the Board of Directors of the Parent in
                                         accordance with the Parent's stock option plan. 

 

		7.2	Stock
                                         Options. In addition to the Base Salary, Quarterly Bonuses, benefits and other compensation
                                         contemplated hereunder, the Executive shall also be eligible to receive future grants
                                         of stock options from the Parent, from time to time, to the extent determined by the
                                         Board of Directors of the Parent at its sole discretion, which options shall vest in
                                         accordance with a schedule to be determined by the Board of Directors of the Parent at
                                         its sole discretion, and which shall have an exercise price equal to the market price
                                         of the Parent's common shares on the date of grant, or such higher price as may be required
                                         by any stock exchange on which the shares of the Parent are listed, or if the Parent
                                         is not publicly traded, at such a price as shall be determined by the Board of Directors
                                         of the Parent in its sole discretion. In addition to the initial grant of options contemplated
                                         in Section 7.1 above, it is further acknowledged and agreed that the Executive shall
                                         be entitled to the following additional grants of options to acquire common shares in
                                         the capital of the Parent: (i) 250,000 options upon the six (6) month anniversary of
                                         the Effective Date, subject to completion of six (6) month performance objectives, as
                                         established by the CEO; and (ii) 250,000 options upon the twelve (12) month anniversary
                                         of the Effective Date, subject to completion of twelve (12) month performance objectives,
                                         as established by the CEO. The foregoing future grants of stock options are contingent
                                         upon this Agreement being in full force and effect at the scheduled time of such option
                                         grants (with no material breaches of this Agreement having occurred). The terms of such
                                         future stock option grants shall be determined by the Board of Directors of the Parent
                                         at the time of grant and in accordance with the Parent's stock option plan and applicable
                                         TSX Venture Exchange rules and policies. Any options granted to the Executive by the
                                         Board of Directors of the Corporation, or pursuant to the terms of this Agreement, may
                                         be exercised only in accordance with the terms and conditions of the Stock Option Agreement
                                         that is entered into in connection therewith.

 

		7.3	Accelerated
                                         Vesting. Subject to regulatory approval, the Corporation covenants and agrees that
                                         any Stock Option Agreements between the Parent and the Executive shall provide that all
                                         stock options held by the Executive, whether vested or unvested, shall immediately vest
                                         and be exercisable by the Executive:

 

     

    	 	- 5 -	 

    

		(a)	upon
                                         a termination by the Corporation without Cause as more specifically provided for in Article
                                         8.2; or

 

		(b)	the
                                         resignation by the Executive for Good Reason, as more specifically provided for in Article
                                         8.3.

 

		7.3	Rules
                                         of the Stock Exchanges. The Corporation and the Executive expressly acknowledge and
                                         agree that all options to purchase shares of the Parent to which the Executive shall
                                         be entitled hereunder, and any changes to such options (including, without limitation,
                                         changes provided for in this Agreement), shall be subject to the approval and the regulations,
                                         policies and by-laws of each of the stock exchanges on which the common voting shares
                                         of the Parent are then listed. The Corporation covenants to use its reasonable commercial
                                         efforts to obtain any such approvals and to ensure that all options are in compliance
                                         with such regulations, policies and by-laws.

 

ARTICLE
8

TERMINATION

 

		8.1	At-Will
                                         Employment. Nothing in this Agreement shall be construed to alter the at-will employment
                                         relationship between the Corporation and the Executive. Subject to the terms set forth
                                         in this Agreement, either the Corporation or the Executive may terminate the Executive's
                                         employment at any time for any reason, with or without Cause, as defined in Section 8.2
                                         below.

 

		8.2	Termination
                                         for Cause. The Executive's employment may be terminated by the Corporation upon simple
                                         notice in writing transmitted to the Executive, without the Corporation (or any of its
                                         Affiliates) being bound to pay any compensation whatsoever if termination is for any
                                         of the following reasons, each of which constitutes cause (hereinafter, "Cause"):

 

		(a)	The
                                         Executive is declared bankrupt or insolvent or is placed under protective supervision,
                                         which situations the Executive acknowledges to be incompatible with the continuation
                                         of his employment.

 

		(b)	The
                                         Executive becomes physically or mentally disabled to such an extent as to make him unable
                                         to perform the essential functions of his duties normally and adequately for an aggregate
                                         of six (6) months during a period of twelve (12) consecutive months. In such a case,
                                         the Executive may continue to benefit under short-term and long-term disability insurance
                                         plans, subject to the terms of such plans, if any. The Corporation's ability to terminate
                                         the Executive as a result of any disability shall be to the extent permitted by applicable
                                         state or federal law.

 

		(c)	The
                                         Executive breaches the terms of this Agreement.

 

		(d)	The
                                         Executive fundamentally or materially fails to perform his duties as Executive Vice President
                                         of the Corporation.

 

		(e)	There
                                         is a conclusive determination that the Executive has committed any fraud, theft, embezzlement
                                         or other criminal act of a similar nature.

 

		(f)	The
                                         Executive has committed serious misconduct or willful or gross negligence in the performance
                                         of his duties.

 

		(g)	The
                                         Executive fails or refuses to follow reasonable directives of the CEO.

 

		(h)	The
                                         Executive engages in willful or reckless conduct, causing material damage to the Corporation
                                         or the Parent (or their Affiliates) or the Corporation's or the Parent's (or their Affiliates')
                                         business.

 

		(i)	The
                                         Executive misuses or abuses alcohol, drugs or controlled substances.

 

		(j)	The
                                         Executive uses or discloses in an unauthorized way the Corporation's or the Parent's
                                         (or any of their Affiliates') confidential or trade secret information.

 

     

    	 	- 6 -	 

    

		(k)	The
                                         Executive conducts himself publicly, by speech or behavior, in such a manner as to cause
                                         public embarrassment, scandal or ridicule to the Corporation or the Parent, any of their
                                         Affiliates or any of their employees.

 

Provided,
however, no reason set forth in this Section 8.2 shall constitute Cause unless (1) the Executive upon notice is given a reasonable
period to effect a cure or a correction; (2) the reason is curable or correctible as determined by the Board; and, (3)
the reason clearly and adversely affects the Executive's ability to continue to perform his duties and responsibilities under
this Agreement.

 

		8.3	Good
                                         Reason. The Executive shall have the right to resign at any time for any of the following
                                         reasons, each of which shall constitute Good Reason:

 

		(a)	Any
                                         change in the Executive's direct reporting relationship.

 

		(b)	Any
                                         reduction (absent the Executive's express, written consent) in the Executive's duties
                                         and responsibilities as Executive Vice President of the Corporation.

 

Provided,
however, no reason set forth in this Section 8.3 shall constitute Good Reason unless the Corporation upon express, written notice
is given a reasonable period to effect a cure or a correction.

 

		8.4	Termination
                                         by Death. In the event of the Executive's death during his period of employment,
                                         the Corporation's obligation to make payments under this Agreement shall terminate on
                                         the date of death, except the Corporation shall pay the Executive's estate or surviving
                                         designated beneficiary or beneficiaries, as appropriate, any earned but unpaid salary
                                         and bonus and reimburse business expenses incurred but not reimbursed as of his date
                                         of death. Vesting of any stock options outstanding on the date of death shall be exercisable
                                         only to the extent the Executive's right to exercise was vested on his date of death.

 

		8.5	Voluntary
                                         Termination. In the event Executive wishes to resign for any reason other than Good
                                         Reason or the Corporation wishes to terminate his employment without Cause, the Executive
                                         shall give, or receive, as applicable at least thirty (30) days prior written notice
                                         of such resignation or termination, whichever is applicable. Any such notice shall not
                                         relieve either the Executive or the Corporation of their mutual obligations to perform
                                         under this Agreement or to relieve the Corporation to compensate the Executive during
                                         such notice period for any earned but unpaid salary and bonus and reimburse business
                                         expenses incurred but not reimbursed as of his date of termination.

 

		8.6	Termination
                                         Without Cause Or Resignation For Good Reason. In the event that the Executive has
                                         a "separation from service" within the meaning of a §409A of the US Internal
                                         Revenue Code of 1986, as amended (a "Separation from Service") as a result
                                         of the Corporation terminating the Executive's employment without Cause at a date that
                                         is at least twelve (12) months following the Effective Date or the Executive resigning
                                         for Good Reason at a date that is at least twelve (12) months following the Effective
                                         Date, (1) Executive's right to exercise all then outstanding stock options granted to
                                         him shall fully and immediately vest on the effective date of his Separation from Service;
                                         (2) the Corporation shall pay to Executive in a lump sum (less applicable tax withholdings)
                                         an amount equal to: (i) twelve (12) months Base Salary
                                         (paid  in  accordance  with  the 
                                         Corporation's usual payroll procedures); and
                                         (ii) any Quarterly Bonus allocable or payable
                                         prior to the date of termination.

 

     

    	 	- 7 -	 

    

ARTICLE
9

CONFIDENTIALITY

 

		9.1	The
                                         Executive acknowledges that he has received and will receive or conceive, in carrying
                                         on or in the course of his work during his employment with the Corporation, confidential
                                         information pertaining to the activities, the technologies, the operations and the business,
                                         past, present and future, of the Corporation or its affiliates or related or associated
                                         companies, which information is not in the public domain. The Executive acknowledges
                                         that such confidential information belongs to the Corporation and/or its affiliates and
                                         that its disclosure or unauthorized use could be damaging or prejudicial to the Corporation
                                         and/or its affiliates and contrary to their best interests.

 

		9.2	Accordingly,
                                         the Executive agrees to respect the confidentiality of such information and not to make
                                         use of or disclose it to, or to discuss it with, any person, other than in the ordinary
                                         course of his duties with the Corporation and its Affiliates, or as required under applicable
                                         law, without the explicit prior written authorization of the Corporation.

 

		9.3	This
                                         undertaking to respect the confidentiality of such information and not to make use of
                                         or disclose or discuss it to or with any person shall survive and continue to have full
                                         effect notwithstanding the termination of the Executive's employment with the Corporation,
                                         so long as such confidential information does not become public as a result of an act
                                         by the Corporation or a third party, which act does not involve the fault of one of its
                                         executives.

 

		9.4	The
                                         term confidential information includes, among other things:

 

		(a)	products,
                                         formulae, processes and composition of products, as well as raw materials and ingredients,
                                         of whatever kind, that are used in their manufacture;

 

		(b)	technical
                                         knowledge and methods, quality control processes, inspection methods, laboratory and
                                         testing methods, information processing programs and systems, manufacturing processes,
                                         plans, drawings, tests, test reports and software;

 

		(c)	equipment,
                                         machinery, devices, tools, instruments and accessories;

 

		(d)	financial
                                         information, production cost data, marketing strategies, raw materials supplies, suppliers,
                                         staff and client lists and related information, marketing plans, sales techniques and
                                         policies, including pricing policies, sales and distribution data and present and future
                                         expansion plans; and

 

		(e)	research,
                                         experiments, inventions, discoveries, developments, improvements, ideas, industrial secrets
                                         and know-how.

 

		9.5	The
                                         Executive agrees to keep confidential and not disclose to any third party both the existence
                                         and the terms of this Agreement, except if disclosure is required by regulation or law.
                                         In the event that the Executive is required to disclose the existence or terms of this
                                         Agreement pursuant to subpoena or other duly issued court order, Executive shall give
                                         prompt notice to the Corporation of such subpoena or court order to allow the Corporation
                                         sufficient opportunity to contest such subpoena or court order.

 

ARTICLE
10

NON-SOLICITATION OF OFFERS

 

		10.1	The
                                         Executive shall not compete with the Corporation nor with any of its Affiliates, directly
                                         or indirectly. He shall not participate in any capacity whatsoever in a business that
                                         would directly or indirectly compete with the Corporation or with any of its Affiliates,
                                         including, without limitation, as an executive, director, officer, employer, principal,
                                         agent, fiduciary, administrator of another's property, associate, independent contractor,
                                         franchisor, franchisee, distributor or consultant unless such participation is fully
                                         disclosed to the Board and approved in writing in advance. In addition, the Executive
                                         shall not have any interest whatsoever in such an enterprise, including, without limitation,
                                         as owner, shareholder, partner, limited partner, lender or silent partner. This noncompetition
                                         covenant is limited as follows:

 

     

    	 	- 8 -	 

    

		(a)	As
                                         to the time period, to the duration of the Executive's employment and for a period
                                         of one (1) year following the date of termination of his employment;

 

		(b)	As
                                         to the geographical area, the territory in which a specific product had been actively
                                         exploited by the Corporation and/or its Affiliates during the twelve (12) months preceding
                                         the employment termination date;

 

		(c)	As
                                         to the nature of the activities, to duties or activities which are identical or substantially
                                         similar to those performed or carried on by the Executive at or during the twelve (12)
                                         months preceding the employment termination date.

 

		10.2	The
                                         foregoing stipulation shall nevertheless not prevent the Executive from buying or holding
                                         shares or other securities of a corporation or entity other than the Corporation whose
                                         securities are publicly traded on a recognized stock exchange where the securities so
                                         held by the Executive do not represent more than five percent (5%) of the voting shares
                                         of such other corporation or entity and do not allow for its control.

 

		10.3	The
                                         Executive also undertakes, for the same period and in respect of the same territory referred
                                         to hereinabove in subsections 10.1(a), (b) and (c), not to solicit clients or do anything
                                         whatsoever to induce or to lead any person to end, in whole or in part, business relations
                                         with the Corporation or any of its affiliates.

 

		10.4	The
                                         Executive also undertakes, for the same period and in respect of the same territory referred
                                         to hereinabove in subsections 10.1(a), (b) and (c), not to induce, attempt to induce
                                         or otherwise interfere in the relations which the Corporation or which any of its affiliates
                                         has with their distributors, suppliers, representatives, agents and other parties with
                                         whom the Corporation or any of its affiliates deals.

 

		10.5	The
                                         Executive also undertakes, for the same period and in respect of the same territory referred
                                         to in subsections 10.1(a), (b) and (c), not to induce, attempt to induce or otherwise
                                         solicit the personnel of the Corporation to leave their employment with the Corporation
                                         or any of its Affiliates nor to hire the personnel of the Corporation or any of its Affiliates
                                         for any enterprise in which the Executive has an interest.

 

		10.6	The
                                         Executive acknowledges that the provisions of this Section 10 are limited as to the time
                                         period, the geographic area and the nature of the activities to what the parties deem
                                         necessary to protect the legitimate interests of the Corporation and its Affiliates,
                                         while allowing the Executive to earn his living.

 

		10.7	Nothing
                                         in this Section 10 shall operate to reduce or extinguish the obligations of the Executive
                                         arising at law or under this contract which survive at the termination of this Agreement
                                         in reason of their nature and, in particular, without limiting the foregoing, the Executive's
                                         duty of loyalty and obligation to act faithfully, honestly and ethically.

 

     

    	 	- 9 -	 

    

ARTICLE
11

OWNERSHIP OF INTELLECTUAL PROPERTY

 

		11.1	The
                                         Executive hereby assigns and agrees to assign to the Corporation all of his intellectual
                                         property rights as of their creation and to make full and prompt disclosure to the Corporation
                                         of all information relating to anything made or designed by him or that may be made or
                                         designed by him during the period of his employment, whether alone or jointly with other
                                         persons, or within a period of two (2) years following the termination of his employment
                                         and resulting from or arising out of any work performed by the Executive on behalf of
                                         the Corporation (or its affiliates) or connected with any matter relating or possibly
                                         relating to any business in which the Corporation or any of its affiliates or related
                                         or associated companies is involved unless specifically released from such obligation
                                         in writing by the Corporation's Board of Directors.

 

		11.2	In
                                         addition, the Executive renounces all moral rights in any document or work realized during
                                         the period of his employment related to his employment by the Corporation. The Executive
                                         acknowledges that the Corporation has the right to use, modify or reproduce any such
                                         document or work realized by the Executive, at its entire discretion, without the Executive's
                                         authorization and without his name being mentioned.

 

		11.3	At
                                         any time during the period of his employment or after the termination of his employment,
                                         the Executive shall sign, acknowledge and deliver, at the Corporation's expense, but
                                         without compensation other than a reasonable sum for his time devoted thereto if his
                                         employment has then terminated, any document required by the Corporation to give effect
                                         to Section 11.1, including patent applications and documents evidencing the assignment
                                         of ownership. The Executive shall also provide such other assistance as the Corporation
                                         or one of its affiliates may require with respect to any proceeding or litigation relating
                                         to the protection or defense of intellectual property rights belonging to the Corporation
                                         or any of its affiliates. The entirety of this Section 11 shall be binding on the Executive's
                                         assignees and legal representatives.

 

ARTICLE
12

OWNERSHIP OF FILES AND OTHER PROPERTY

 

		12.1	Any
                                         property of the Corporation, including any file, sketch, drawing, letter, report, memorandum
                                         or other document, any equipment, machinery, tool, instrument or other device, any diskette,
                                         recording tape, compact disc, software, electronic communication device or any other
                                         property, which comes into the Executive's control or possession during his employment
                                         with the Corporation in the performance or in the course of his duties, regardless of
                                         whether he has participated in its preparation or design, how it may have come under
                                         his control or into his possession and whether it is an original or a copy, shall at
                                         all times remain the property of the Corporation and, upon the termination of the Executive's
                                         employment, shall promptly be returned to the Corporation or its designated representative..
                                         The Executive may not keep a copy or give one to a third party without the prior expressly
                                         written permission of the Corporation.

 

ARTICLE
13

ENTIRE AGREEMENT AND TERMINATION OF PRIOR CONTRACTS

 

		13.1	This
                                         Agreement contains the entire understanding of the parties with respect to the matters
                                         contained or referred to herein. There are no promises, covenants or undertakings by
                                         either party hereto to the other, other than those expressly set forth herein. This Agreement
                                         supersedes and replaces any earlier agreement, whether oral or in writing or partly oral
                                         and partly in writing, between the parties hereto, or between any party hereto and the
                                         corporate representative of any other party hereto, respecting the provision of services
                                         by the Executive to the Corporation. 

 

     

    	 	- 10 -	 

    

ARTICLE
14

AMENDMENT OF THE AGREEMENT

 

		14.1	To
                                         be valid and enforceable, any amendment to this Agreement must be confirmed in writing
                                         by each of the Corporation and the Executive.

 

ARTICLE
15

NOTICES

 

		15.1	Any
                                         notice given hereunder shall be given in writing and sent by registered or certified
                                         mail or hand-delivered. If such notice is sent by registered or certified mail, it shall
                                         be deemed to have been received five (5) business days following the date of its mailing
                                         if the postal services are working normally. If such is not the case, the notice must
                                         be hand-delivered or served by bailiff, at the discretion of the sender. In the case of
                                         hand-delivery or service, the notice shall be deemed to have been received the same day.
                                         It is agreed that if the delivery date is a non business day, the notice shall be deemed
                                         to have been received on the following business day.

 

		15.2	For
                                         purposes of mailed or hand-delivered notices to be effectively delivered under this provision,
                                         the notices must be addressed as follows:

 

		(a)	For
                                         the Corporation: 1250, 639 – 5th Avenue S.W., Calgary, Alberta T2P 0M9.
                                         

 

		(b)	For
                                         the Executive: 18 Turner Drive, Chappaqua, New York 10514.

 

ARTICLE
16

INDEMNITY AND INSURANCE

 

		16.1	The
                                         Corporation covenants, both during and after the Executive's term of service, to indemnify
                                         and hold harmless the Executive and his legal representatives, to the maximum extent
                                         permitted by Delaware law (provided that the Executive acted honestly and in good faith
                                         with a view to the best interests of the Corporation and, in the case of a criminal or
                                         administrative action or proceeding that is enforced by monetary penalty, the Executive
                                         had reasonable grounds for believing that his conduct was lawful), from and against:

 

		(a)	all
                                         costs, charges, liabilities and expenses whatsoever that the Executive may sustain or
                                         incur in or about or in relation to any action, suit or proceeding that is brought, commenced
                                         or prosecuted against the Executive for or in respect of any act, deed, matter or thing
                                         whatever made, done or permitted or not made, done or permitted by the Executive in or
                                         about the execution of his duties as a director or officer of the Corporation or its
                                         subsidiaries; and

 

		(b)	all
                                         other costs, charges, liabilities and expenses that the Executive may sustain or incur
                                         (including, without limitation, all income tax, sales tax and excise tax liabilities
                                         resulting from any payment made pursuant to this indemnity) in or about or in relation
                                         to the affairs of the Corporation or its subsidiaries or his position as a director or
                                         officer of the Corporation or its subsidiaries.

 

		16.2	The
                                         Corporation further agrees that any costs, charges and expenses referred to in paragraph 16.1(a)
                                         above shall be paid in advance of the final disposition of any such action or proceeding
                                         upon receipt by the Corporation of a written undertaking by the Executive to repay such
                                         amount if it shall ultimately be determined that the Executive is not entitled to be
                                         indemnified in accordance with the terms and conditions of this Indemnity and Delaware
                                         law.

 

     

    	 	- 11 -	 

    

		16.3	The
                                         Corporation further agrees, both during and after the Executive's term of service, to
                                         use its reasonable best efforts to obtain any approval or approvals necessary for such
                                         indemnification and to co-operate with the Executive and to provide the Executive with
                                         access to any evidence which the Corporation may have or control, which would enable
                                         the Executive to make application or obtain any approval or approvals necessary for such
                                         indemnification.

 

ARTICLE
17

SUCCESSORS

 

		17.1	This
                                         Agreement shall be binding on the successors, assignees and legal representatives of
                                         all of the parties hereto.

 

ARTICLE
18

JURISDICTION

 

		18.1	This
                                         Agreement shall be governed by and interpreted in accordance with the laws, including
                                         conflicts of laws, by the State of Delaware in the United States of America. Each of
                                         the parties hereby irrevocably attorns to the jurisdiction of the Courts of the State
                                         of Delaware with respect to any matters arising out of this Agreement. 

 

ARTICLE
19

SEVERABILITY

 

		19.1	If
                                         any provision of this Agreement or the application thereof is held invalid, the invalidity
                                         shall not affect other provisions or applications of this Agreement, which can be given
                                         effect without the invalid provisions or applications and, to this end, the provisions
                                         of this Agreement are declared to be severable.

 

ARTICLE
20

MEDIATION

 

		20.1	The
                                         Corporation and the Executive hereby expressly agree that with respect to any dispute
                                         arising under this Agreement, such dispute shall be resolved through binding mediation.
                                         Any such mediation shall: (1) take place at a location mutually agreed upon by the Corporation
                                         and the Executive; and (2) be conducted by a recognized panel of three professional
                                         mediators or which can be comprised of three experienced business experts from the pharmaceutical
                                         or biotechnical industry mutually agreed upon by the Corporation and the Executive. With
                                         respect to any such mediation panel, one mediator shall be selected by the Corporation,
                                         one mediator shall be selected by the Executive, and one mediator shall be selected by
                                         mutual agreement between the Corporation and the Executive. Each of the parties hereto
                                         shall bear their own, respective costs of such mediation.

 

ARTICLE
21

LANGUAGE

 

		21.1	All
                                         of the parties hereto expressly agree that this Agreement be drafted, read and interpreted
                                         in the English language.

 

ARTICLE
22

GENERAL

 

		22.1	This
                                         Agreement and the obligations of the Executive hereunder shall not be assigned by either
                                         party hereto, in whole or in part, without the prior consent of the other party hereto,
                                         which consent may be withheld for any reason.

 

     

    	 	- 12 -	 

    

		22.2	Each
                                         party shall do and perform all such acts and things and execute and deliver all such
                                         instruments and documents and writings and give all such further assurances as may be
                                         necessary to give full effect to the provisions and intent of this Agreement.

 

		22.3	The
                                         Executive agrees that after termination of employment hereunder for any reason whatsoever,
                                         he will tender his resignation from any position he may hold as an officer or director
                                         of the Corporation, the Parent or their Affiliates.

 

		22.4	This
                                         Agreement shall enure to the benefit of and be binding upon the Executive and his executors
                                         and administrators and upon the Corporation and its successors and assigns.

 

		22.5	Neither
                                         party can waive or shall be deemed to have waived any right it has under this Agreement
                                         (including any waiver under this section) except to the extent that such waiver is in
                                         writing.

 

		22.6	The
                                         Corporation agrees to co-operate with the Executive, to the extent permitted by applicable
                                         tax laws, so as to permit the Executive to consider payments hereunder on termination
                                         of employment to be retirement benefits.

 

ARTICLE
23

COUNTERPARTS

 

		23.1	This
                                         Agreement may be executed in counterparts, each of which shall be deemed one and the
                                         same Agreement.

 

[Reminder of page
intentionally left blank.]

 

 

     

    	 	- 13 -	 

    

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

 

 

	 	 	ZOMEDICA PHARMACEUTICALS CORP.
	 	 	 	 
	 	 	 	 
	 	 	Per:	/s/ Gerald Solensky Jr.
	 	 	 	Gerald Solensky Jr.
	 	 	 	Chairman, CEO
		 	 	 
		 	 	 
	/s/ David Stowell	 	/s/ Robert DiMarzo
	Witness	 	Robert Dimarzo
	Name: David Stowell	 	 	 

 

 

 

 

 

    

     

    

ADDENDUM
RE EMPLOYMENT AGREEMENT

 

THIS ADDENDUM is dated effective
as of February 1, 2017,

 

BETWEEN:

 

ZOMEDICA PHARMACEUTICALS INC.,
a body corporate duly incorporated pursuant to the laws of the State of Delaware and having an office in the City of Ann Arbor,
Michigan (hereinafter referred to as the "Corporation")

 

- and -

 

Robert
Dimarzo, an individual residing in Chappaqua, New York, USA (hereinafter referred to as the "Executive")

 

WHEREAS the parties hereto entered
into an employment agreement dated effective February 1, 2017 (the "Employment Agreement")

 

AND WHEREAS the parties hereto wish
to set forth certain additional terms to supplement the Employment Agreement, as set out in this Addendum;

 

NOW THEREFORE, in consideration
of the premises and the respective covenants and agreements set forth herein and in the Employment Agreement, the parties hereto
agree as follows:

 

		1.	Interpretation

 

This Addendum is supplemental to and shall
form one agreement with the Employment Agreement, and the Employment Agreement and this Addendum shall be read together and have
effect so far as practicable as though all the provisions thereof and hereof were contained in one instrument.

 

		2.	Amendment

 

The parties hereto acknowledge
and agree that a Quarterly Cash Bonus, as contemplated in Section 5.2 of the Employment Agreement shall be payable to the Executive
and that in respect of the 2017 fiscal year, the following amounts shall be payable, subject to completion of the corresponding
performance criteria on or before the applicable Bonus Payment Date.

 

	Quarterly Bonus Amount	 	Bonus Performance Criterion	 	Bonus
    Payment Date
	U.S.$9,000	 	Conference Participation	 	March 31, 2017
	 	 	 	 	 
	U.S.$9,000	 	Globalization of Products 	 	June 30, 2017
	 	 	And International Strategic Plan	 	
	 	 	 	 	 
	U.S.$9,000	 	Launch of 2 Diagnostics Outside	 	September, 2017
	 	 	of USA	 	
	 	 	 	 	 
	U.S.$9,000	 	Business Development Acquisition	 	December 31, 2017
	 	 	EU	 	

 

 

Determination as to whether
the Bonus Performance Criterion have been satisfied shall be made by the Chief Executive Officer of the Corporation, in his sole
discretion (acting reasonably).

 

     

    	2

    

		3.	Confirmation

 

The parties hereto hereby acknowledge and
confirm that, except as specifically amended by the provisions of this Addendum, all of the terms and conditions contained in the
Employment Agreement are and shall remain in full force and effect, unamended, in accordance with the provisions thereof.

 

		4.	Enurement

 

This Addendum shall be
binding upon and shall enure to the benefit of the parties hereto and their respective heirs, successors and assigns.

 

		5.	Time

 

Time shall be of the
essence of this Agreement.

 

		6.	Governing Laws

 

This Addendum shall be
governed by and construed in accordance with the laws of the State of Delaware in the United States of America. Each of the parties
hereby irrevocably attorns to the jurisdiction of the Courts of the State of Delaware with respect to any matters arising out of
this Addendum.

 

		7.	Execution in Counterpart

 

This Addendum may be executed by the parties
in separate counterparts (and by facsimile transmission or by a scanned copy by electronic mail) each of which when so executed
and transmitted or delivered shall be an original, but all such counterparts shall together constitute one and the same agreement.

 

IN WITNESS WHEREOF the parties hereto
have caused this Addendum to be duly executed as of the date and year first above written.

 

	 	 	ZOMEDICA PHARMACEUTICALS CORP.
	 	 	 	 
	 	 	 	 
	 	 	Per:	/s/ Gerald Solensky Jr.
	 	 	 	Gerald Solensky Jr.
	 	 	 	Chairman, CEO
		 	 	 
		 	 	 
	/s/ David Stowell	 	/s/ Robert DiMarzo
	Witness	 	Robert Dimarzo
	Name: David Stowell

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}]]