Document:

Document

Exhibit 10.21

Zoom Video Communications, Inc. 
Officer Incentive Plan
1.Purpose  
The Zoom Video Communications, Inc. Officer Incentive Plan (the “Plan”) is designed to provide incentives to participating employees to make important contributions to the success of Zoom Video Communications, Inc. (the “Company”) and reward such employees for outstanding performance.  The Plan is also intended to enhance the ability of the Company to attract and retain highly talented individuals.
2.Administration
The Plan will be administered by the Compensation Committee (the “Plan Administrator”) of the Board of Directors (the “Board”) of the Company. The Plan Administrator will have the sole discretion and authority to administer and interpret the Plan, and the decisions of the Plan Administrator will in every case be final and binding on all persons having an interest in the Plan.
3.Eligibility
(a)Participation  
Each employee of the Company who (i) is an “officer” of the Company (within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and Rule 16a-1 thereunder); and (ii) has a written offer letter or other written agreement with the Company that provides for such employee’s Target Award (as defined in Section 4 below) and eligibility in the Plan or has a written agreement with the Company that provides that such employee is eligible to participate in the Company’s Sales Compensation Plan, is eligible to participate in the Plan and shall be considered a “Participant” in the Plan.  Unless otherwise specified by the Plan Administrator or expressly provided in a written agreement between a Participant and the Company, an individual who commences employment with the Company during an applicable performance period may become a Participant for such performance period, commencing on the date such individual commences employment with the Company (provided such individual meets all other eligibility criteria for participation in the Plan), and will receive a pro-rated Target Award (as defined below) for such initial performance period.  
(b)Awards
Each Participant in a performance period will be granted an award of a contingent right to a future payment under the Plan (an “Award”) for such performance period, which will be paid contingent upon achievement of applicable performance goals established by the Plan Administrator for the applicable performance period and earned upon satisfaction of all applicable conditions for earning such Awards. 
(c)Award Payments
In order to be eligible to receive payment of an Award, unless otherwise expressly provided by the Plan Administrator or required by applicable law, a Participant must meet the following criteria: (A) continue to be employed with the Company from the date his or her participation in the Plan commences for the applicable performance period through the date the Award is paid; and (B) comply with any rules of the Plan established by the Plan Administrator.  If a Participant ceases to be an Officer during a performance period but continues to be an employee through the date the Award is paid and otherwise is eligible to receive payment of an Award, such individual’s Award may be adjusted as determined appropriate by the Plan Administrator.  There is no guarantee for any payment of an Award under the Plan.  Awards are paid as advances and not earned until no 
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longer subject to recoupment in accordance with the Clawback Provisions described in Section 6(h) below, unless prohibited by applicable law.
4.Method for Establishing and Determining Awards 
(a)Establishment of Target Awards  
For each performance period, each Participant shall have a target award opportunity under the Plan (“Target Award”), expressed in such Participant’s offer letter with the Company or otherwise in writing and approved by the Plan Administrator, as a percentage of such Participant’s Base Salary earned during such performance period, as a set dollar amount or in such other form as specified in writing and approved by the Plan Administrator.  The Plan Administrator is not obligated to treat all Plan Participants similarly. For purposes of the Plan, unless otherwise determined by the Plan Administrator, “Base Salary” for a Participant means the total amount of base salary or base wages earned by such Participant during the applicable performance period while such individual is a Participant.  Base Salary does not include any bonuses, commissions or other incentive compensation, amounts received or otherwise recognized in connection with equity awards, expense reimbursements, relocation payments, overtime or shift differential payments, contributions made by the Company under any employee benefit plan, the value of any employee benefits or perquisites paid for by the Company, or any other similar items of compensation.  Base Salary will be determined before any deductions for taxes or benefits and deferrals of compensation pursuant to any Company-sponsored plan.
(b)Establishment of Performance Periods  
The Plan Administrator will establish the applicable performance periods during which actual performance will be measured against the performance goals established by the Plan Administrator to determine the Participant’s potential Award.  Performance periods will generally be established by the Plan Administrator in reference to the Company’s fiscal year and may consist of a single fiscal year, multiple fiscal years, or one or more portions of a fiscal year.
(c)Establishment of Performance Goals  
With respect to each performance period, the Plan Administrator will establish the following for each Participant: (i) one or more performance goals (which may be corporate performance goals and/or individual performance goals) and (ii) the relative weights, if any, of such performance goals and (iii) such other terms and conditions of the Award, if any, the Plan Administrator determines appropriate in its discretion (and in accordance with the terms of the Plan).  The Plan Administrator will make such determinations under this Section 5(c) at the times and in the manner determined appropriate in its sole discretion and is not obligated to treat all Plan Participants similarly.
(d)Evaluation of Performance Results 
Following the end of each performance period, the Plan Administrator will determine whether (and to what extent) the performance goals established for such performance period have been achieved.
(e)Determination of Actual Awards
For each performance period, the Plan Administrator will determine the amount of any actual Award for each Participant (which may be below, at or above the applicable Target Award) based on (i) the extent to which the performance goals established for such performance period have been achieved (and any relative weighting of such performance goals), (ii) such Participant’s Target Award, and (iii) if and the extent to which any and all other conditions for a Participant to earn and receive an Award have been met.  Notwithstanding the foregoing, in determining the amount of any actual Award for any Participant, the Plan Administrator will have the 
    
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discretion to reduce the amount of any actual Award below the amount calculated under the terms of the Plan, including to zero, or increase the amount of any actual Award above the amount calculated under the terms of the Plan.  In making such determination the Plan Administrator may take into consideration such other factors as it determines appropriate, in its sole discretion, including the Participant’s individual performance.  Awards will additionally be subject to any maximum payout limitation approved by the Plan Administrator for the applicable performance period.  
Unless otherwise determined by the Plan Administrator or required by applicable law: (i) any Participant who switches from full-time to part-time employment during the performance period will have his or her actual Award reduced on a pro-rata basis based upon the applicable percentage of full-time equivalent employment that was in effect on an aggregate basis during the performance period and (ii) no adjustment will be made to the determined amount of an actual Award for any Participant due to any reduction in the percentage of full-time equivalent employment of a Participant that occurs after expiration of the performance period and prior to determination of the actual Award. 
Unless prohibited by applicable law or otherwise determined by the Plan Administrator: (i) any Participant who is absent due to an approved leave of absence during the performance period, and who otherwise is eligible to receive and earns an actual Award for such performance period, will have his or her actual Award reduced on a pro-rata basis based upon the applicable period of active employment during the performance period and (ii) no adjustment will be made to the determined amount of an actual Award for any Participant due to any leave of absence that commences after expiration of the performance period and prior to determination of the actual Award.
5.Payment of Awards
Following, and subject to, the Plan Administrator’s determination of actual Awards for a performance period, the Plan Administrator will approve the payment of Awards for such performance period, subject to satisfaction of any continued services or additional conditions established by the Plan Administrator to receive the Award.  Payment of Awards under the Plan will be made as soon as practicable after such approval or satisfaction of such conditions, as applicable.  However, Awards are not earned until no longer subject to recovery pursuant to the Clawback Provisions described in Section 6(h) below, unless prohibited by applicable law.  As a result, the Company pays Awards in advance of the Participant’s earning of the Award, and such advances are subject to recovery pursuant to the Clawback Provisions described in Section 6(h) below.  
All Awards made under the Plan will be paid in the form of cash or, if approved by the Board or the Committee, an equity award under the Company’s 2019 Equity Incentive Plan (or any successor thereto), as determined by the Plan Administrator in its sole discretion.  The terms and conditions of any such equity award will be determined by the Plan Administrator in its sole discretion.  
6.Miscellaneous
(a)Withholding of Compensation.  The Company will deduct and withhold from any amounts payable to Participants under the Plan any amounts required to be deducted and withheld by the Company under the provisions of any applicable federal, state, local or foreign statute, law, regulation, ordinance or order.  The Company reserves the right to require a Participant to satisfy such deduction and withholding obligation in such manner as specified by the Company under applicable law, in the event that amounts payable to Participants under the Plan are not paid in the form of cash.
(b)Plan Funding.  The Plan will be unfunded.  Nothing contained in the Plan will be deemed to require the Company to deposit, invest or set aside amounts for the payment of any Awards under the Plan.
    
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(c)Amendment or Termination of the Plan.  The Plan may be amended or terminated at any time by the Compensation Committee or the Board.
(d)No Guarantee of Continued Service.  The Plan will not confer any rights upon an employee to remain in service with the Company or any affiliate of the Company for any specific duration or interfere with or otherwise restrict in any way the rights of the Company or any affiliate of the Company to terminate an employee’s service with the Company (or affiliate, if applicable) for any reason, with or without cause or advance notice.
(e)No Assignment or Transfer.  None of the rights, benefits, obligations or duties under the Plan may be assigned or transferred by any individual employee or Participant.  Any purported assignment or transfer by any employee or Participant will be void.  Participation in the Plan does not give any individual any ownership, security, or other rights in any assets of the Company.
(f)Validity.  In the event any provision of the Plan is held invalid, void, or unenforceable, the same will not affect, in any respect whatsoever, the validity of any other provision of the Plan.
(g)Governing Documents.  Each Award under the Plan shall be governed by the provisions of the Plan as set forth herein.  This Plan contains the entire agreement between the Company and each Participant on this subject, and supersedes all prior bonus compensation plans or programs of the Company and all other previous oral or written statements regarding any such bonus compensation programs or plans.  If the Participant receives an Award under the Company’s Sales Compensation Plan, such Award and the written terms of such Sales Compensation Plan, shall be considered granted under and subject to the terms of this Plan.
(h)Clawback/Recovery.  All Awards and payouts under the Plan will be subject to recoupment in accordance with  the following provisions, as applicable (the “Clawback Provisions”): (i) the Zoom Video Communications, Inc. Incentive Compensation Recoupment Policy, (ii) any clawback policy that the Company (x) is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law and (y) otherwise voluntarily adopts, to the extent applicable and permissible under applicable law; and (iii) such other clawback, recovery or recoupment provisions set forth in an individual written agreement between the Company and the Participant, including the Company’s Sales Compensation Plan, if applicable to such Participant.  No recovery of compensation under such a Clawback Provision will be an event giving rise to a right to resign for “good reason” or “constructive termination” (or similar term) under any agreement with the Company.
(i)Recovery of Mistaken Payments:  On occasion or by mistake, the Company may overpay or make incorrect payments of Awards.  For these situations, to the extent permitted by applicable law, the Company reserves the right to offset or recover such mistaken payment amounts from any future payments of compensation to the Participant.   The Participant authorizes the Company to reduce from any amounts owed to the Participant by the Company (including Base Salary, expense reimbursements, other bonuses or accrued vacation pay) such mistaken payment amounts and, to the extent the mistaken payment amounts are not repaid to the Company from such reduction, then the unpaid balance becomes a debt the Participant owes to the Company.
(j)Governing Law.  The rights and obligations of any employee under the Plan will be governed by and interpreted, construed and enforced in accordance with the laws of the State of California without regard to its or any other jurisdiction’s conflicts of laws principles.
    
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(k)Section 409A.  All Plan payments are intended to satisfy the requirements for the “short-term deferral” exemption from application of Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4) and any ambiguities herein shall be interpreted accordingly.

    
5EX-10.13

 Exhibit 10.13 

FORM OF INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (the “Agreement”) dated as of the [INSERT DAY HERE] day of [INSERT MONTH HERE], 2021. 

B E T W E E N: 
 [INSERT NAME HERE],
an individual having an address of [INSERT ADDRESS HERE], United States of America. 
 (hereinafter referred to as the
“Indemnitee”), 
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Green Thumb Industries Inc., a company incorporated under the laws of British Columbia 

(hereinafter referred to as the “Company”), 

WHEREAS: 
  

	(a)	 the Company desires to attract and retain the services of highly qualified individuals such as the Indemnitee
to serve as directors and/or officers; 

  

	(b)	 in order to attract such individuals the Company desires to provide them with the maximum protection permitted
by applicable law against liabilities they may incur in their capacities as directors and/or officers of the Company or its affiliated entities or in any other capacity in which they may act at the request of the Company; 

 

	(c)	 in light of the foregoing, the Indemnitee consented to be elected and has been elected as a director or
appointed as an officer of the Company; and 

  

	(d)	 the Company desires to provide the Indemnitee with such maximum protection. 

NOW THEREFORE in consideration of the premises, the payment by each party to the other of the sum of $10.00 in lawful money of Canada
(receipt of which is hereby acknowledged), the respective covenants of each party set forth in this Agreement and other good and valuable consideration (the sufficiency of which is acknowledged), the parties hereby agree as follows: 

Section 1 Definitions 
 In this
Agreement: 
 “Act” means the Business Corporation Act (British Columbia) as in force from time to time during
the term of this Agreement; 
 “Agent” means any person who is or was a director, officer, employee or other agent of the
Company, or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, body corporate, employee benefit plan or other entity or enterprise (the Company and
such other corporation, partnership, joint venture, trust, body corporate, employee benefit plan or other entity or enterprise being hereinafter referred to as the “Subject Entity”); 

 “Board” means the board of directors of the Company; 

“Expenses” means, without limitation, lawyers’ fees and disbursements and any expenses of establishing a right to
indemnification under this Agreement, the Act or otherwise; and 
 “Proceeding” means any threatened, pending, contemplated
or completed action, suit or proceeding, whether a civil, criminal, administrative, investigative or other proceeding, including any appeal therefrom, to which the Indemnitee is or was a party or is threatened to be made a party by reason of the
fact that the Indemnitee is or was an director or officer of the Company or by reason of anything done or not done by the Indemnitee in such capacity. 

Section 2 Agreement to Serve 
 In
consideration of the protection afforded by this agreement, the Indemnitee agrees to serve as a director and/or officer of the Company, provided that nothing in this Agreement shall prohibit the Indemnitee from resigning as such at any time. 

Section 3 Indemnification 
  

	(1)	 Indemnity. The Company shall indemnify the Indemnitee, effective from the date the
Indemnitee was first elected to the Board or appointed as an officer of the Company, against any and all Expenses, judgments, fines, penalties, settlements and any other amounts actually and reasonably incurred by the Indemnitee in connection with
any Proceeding to the full extent permitted by the Act if, 

  

	 	(a)	 the Indemnitee acted honestly and in good faith with a view to the best interests of the Company; and

  

	 	(b)	 in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the
Indemnitee had reasonable grounds for believing that his or her conduct was lawful (such sections 3(1)(a) and (b) being herein collectively referred to as the “Conditions”). 

No determination in any Proceeding against the Indemnitee by judgment, order, settlement (with or without court approval) or conviction shall,
of itself, create a presumption that the Indemnitee did not meet the Conditions. The Indemnitee shall be deemed, subject only to compelling evidence to the contrary, to have acted honestly and in good faith with a view to the best interests of the
Company, and the Company shall have the burden of establishing the absence of good faith or acting with a view to best interests of the Company on the part of the Indemnitee. 

  
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 Notwithstanding any other provision of this Agreement to the contrary, to the extent that
the Indemnitee is, by reason of the Indemnitee’s status with respect to the Company or any other Subject Entity, a witness or otherwise participates in any action, suit or proceeding at a time when the Indemnitee is not a party in the action,
suit or proceeding, the Company shall indemnify the Indemnitee against all expenses (including Expenses) actually and reasonably incurred by the Indemnitee or on the Indemnitee’s behalf in connection therewith. 

The Indemnitee shall be presumed to be entitled to indemnification under this Agreement upon notice pursuant to Section 3(2), and the
Company shall have the burden of proof in overcoming that presumption in reaching a determination contrary to that presumption. Such presumption shall be used as a basis for a determination of entitlement to indemnification unless the Company
overcomes such presumption by clear and convincing evidence. 
  

	(2)	 Claims Brought Against Indemnitee by the Company. Subject to court approval as contemplated by section
164 of the Act and the restrictions set out in Section 10 of the Agreement, the Company shall indemnify the Indemnitee against any and all Expenses, judgments, fines, penalties, settlements and any other amounts actually and reasonably incurred
by the Indemnitee in connection with any Proceeding brought by or on behalf of the Company, provided the Conditions are met. 

  

	(3)	 Notice and Co-operation by the Indemnitee. The Indemnitee
shall, as a condition precedent to his or her right to be indemnified under this Agreement, give the Company notice in writing as soon as practicable of the commencement or the threatened commencement of any Proceeding against the Indemnitee for
which indemnification will or could be sought under this Agreement, including with such notice such documentation and information as is reasonably available to the Indemnitee and is reasonably necessary to determine whether and to what extent the
Indemnitee is entitled to indemnification. In addition, the Indemnitee shall co-operate with the Company regarding such Proceeding as the Company may reasonably require and as shall be within the
Indemnitee’s power. Notice to the Company shall be directed to the address set-out below (or such other address as the Company shall designate in writing to the Indemnitee). The failure to promptly notify
the Company of the commencement or threatened commencement of the Proceeding, or the Indemnitee’s request for indemnification, will not relieve the Company from any liability that it may have to the Indemnitee hereunder, except to the extent
the Company is materially prejudiced in its defense of such Proceeding as a result of such failure. 

  
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	(4)	 Procedure. Subject to the provisions of Section 4 as to the advancement of Expenses, any
indemnification provided for in this Section 3 shall be paid no later than 30 days after receipt of written request of the Indemnitee. If a claim under this Agreement, the Act, or any other statute, or any provision of the Company’s
articles providing for indemnification is not paid in full by the Company within 45 days after a written request for payment thereof has first been received by the Company, the Indemnitee may, but need not, at any time thereafter bring an action
against the Company to recover the unpaid amount of the claim and, subject to Section 14 of this Agreement, the Indemnitee shall also be entitled to be paid the Expenses of bringing such action. The Company shall have as a defense to any such
action (other than an action brought to enforce a claim for Expenses incurred in connection with any action, suit or proceeding in advance of its final disposition) that the Indemnitee has not satisfied the Conditions. The burden of proving such
defense shall be on the Company and the Indemnitee shall be entitled to receive advances of Expenses pursuant to section 4 hereof unless and until it shall be finally adjudicated by court order or judgment from which no further right of appeal
exists that such defense is available to the Company. It is the parties’ intention that if the Company contests the Indemnitee’s right to indemnification, the question of the Indemnitee’s right to indemnification shall be for the
court to decide, and neither the failure of the Company (including the Board, any committee or subgroup of the Board, independent legal counsel or the Company’s shareholders) to have made a determination that indemnification of the Indemnitee
is proper in the circumstances because the Indemnitee has met the Conditions, nor an actual determination by the Company (including the Board, any committee or subgroup of the Board, independent legal counsel, or the Company’s shareholders)
that the Indemnitee has not met the Conditions, shall create a presumption that the Indemnitee has or has not met the Conditions. 

  

	(5)	 Notice to Insurers. The Company shall give prompt notice of such Proceeding to the insurers of
the Company in accordance with the procedures set forth in the Company’s policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result
of such Proceeding in accordance with the terms of such policies. 

  

	(6)	 Selection of Counsel. In the event the Company shall be obligated under this Section 3 to
indemnify the Indemnitee, the Company shall be entitled to assume the defense of such Proceeding upon the delivery to the Indemnitee of written notice of its election so to do. After delivery of such notice and the retention of counsel by the
Company, the Company shall not be liable to the Indemnitee under this Agreement for any fees of counsel subsequently incurred by the Indemnitee with respect to the same 

  
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Proceeding, provided that (i) the Indemnitee shall have the right to employ his or her own counsel in any such Proceeding at the Indemnitee’s expense; and (ii) if (A) the
employment of counsel by the Indemnitee has been previously authorized by the Company, (B) the Indemnitee shall have been advised in a written opinion of counsel acceptable to the Company, acting reasonably, addressed to the Indemnitee and to
the Company stating that there may be a conflict of interest between the Company and the Indemnitee in the conduct of any such defense, or (C) the Company shall not, in fact, have employed counsel to assume the defense of such Proceeding, then
the fees and expenses (including Expenses) of the Indemnitee’s counsel shall be borne by the Company. 

  

	(7)	 Income Tax. Should any payment made to the Indemnitee pursuant to this Agreement be deemed by any
taxation authority in any jurisdiction to constitute a taxable benefit or otherwise be or become subject to any tax or levy, then the Company shall pay such greater amount as may be necessary to ensure that the amount received by or on behalf of the
Indemnitee, after payment of or withholding for such tax, is equal to the amount of the actual cost, expense or liability incurred by or on behalf of the Indemnitee, such that this Agreement shall serve to indemnify the Indemnitee against all
liability for any and all such taxes. 

  

	(8)	 Company to Seek Court Approval. To the extent that prior court or other approval is required in
connection with any indemnification obligation of the Company under this Agreement, the Company shall seek and use all reasonable efforts to obtain that approval as soon as reasonably possible in the circumstances. 

Section 4 Advances of Expenses 
 The
Company shall advance all Expenses incurred by the Indemnitee in connection with the investigation, defense, settlement or appeal of any Proceeding prior to the final disposition thereof upon receipt by the Company of an undertaking by or on behalf
of the Indemnitee to repay the Company such advanced amounts if it shall be determined ultimately that the Indemnitee is not entitled to be indemnified by the Company hereunder and provided that the Indemnitee offers reasonable proof of the
Indemnitee’s ability to repay such advanced amounts under such circumstances and if it is not then contrary to applicable law for the Company to do so. Notwithstanding the foregoing, however, such advances shall not be made if it is determined
by a court of competent jurisdiction that the Indemnitee acted in bad faith or deliberately breached his or her duty to the Company and its shareholders and, as a result, it is more likely than not that the Indemnitee will not be entitled to
indemnification under the terms of this Agreement. The advances of Expenses to be made hereunder shall be paid by the Company to the Indemnitee within 30 days following delivery of a written request therefor by the Indemnitee to the Company. 

  
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 Section 5 Additional Indemnification Rights; Non-Exclusivity

  

	(1)	 Scope. Notwithstanding any other provision of this Agreement, the Company hereby agrees to
indemnify the Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not specifically authorized by other provisions of this Agreement, the Act, the Company’s articles, or by other statute. In the event
of any change after the date of this Agreement in any applicable law, statute or rule which expands the right of a British Columbia company to indemnify an Agent, such changes shall, without any formality, be within the purview of the
Indemnitee’s rights and the Company’s obligations under this Agreement. In the event of any change in applicable law, statute or rule which narrows the right of a British Columbia company to indemnify an Agent such changes, to the extent
not otherwise required by such law, statute or rule to be applied to this Agreement shall have no effect on this Agreement or the parties’ rights and obligations hereunder. 

 

	(2)	 Non-Exclusivity. The indemnification provided by this
Agreement shall not be deemed exclusive of any rights to which the Indemnitee may be entitled under the Company’s articles, or any other agreement by which the Company is bound, any vote of shareholders or disinterested Indemnitees, the Act or
otherwise. 

  

	(3)	 Partial Indemnification. If the Indemnitee is entitled under any provision of this Agreement to
indemnification by the Company for some or a portion of the Expenses, judgments, fines, penalties, settlements or other amounts actually or reasonably incurred by the Indemnitee in the investigation, defense, appeal or settlement of, or otherwise in
connection with, any Proceeding, but not, however, for the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for that portion for which the Indemnitee is entitled to indemnification. 

 

	(4)	 Contribution. To the fullest extent permissible under applicable law, if the indemnification
provided for in this Agreement is unavailable to the Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying the Indemnitee, shall contribute to the amount actually or reasonably incurred by the Indemnitee in the investigation,
defense, appeal or settlement of, or otherwise in connection with, any Proceeding, other than any Proceeding by or in the right of the Company, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such
Proceeding in order to reflect (i) the relative benefits received by the Company and the Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding and/or (ii) the relative fault of the Company (and its
directors, officers, employees and agents) and the Indemnitee in connection with such event(s) and/or transaction(s). 

  
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 Section 6 Mutual Acknowledgement 

Both the Company and the Indemnitee acknowledge that in certain instances the Act, applicable law or public policy may prohibit the Company
from indemnifying the Indemnitee under this Agreement or otherwise. The Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the regulatory authorities to submit the question of
indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify the Indemnitee. 

Section 7 Settlement 
  

	(1)	 Determination of Settlement Terms. The Company shall be entitled to settle any Proceeding
against the Indemnitee for which indemnity is sought by the Indemnitee hereunder on terms and conditions determined by the Company, provided that: 

  

	 	(i)	 the settlement does not involve any obligation or liability of the Indemnitee other than the payment of a
monetary amount; 

  

	 	(ii)	 the Indemnitee is indemnified in full against payment of such monetary amount together with all related
Expenses, whether or not such Expenses would otherwise be payable hereunder; 

  

	 	(iii)	 the settlement is expressly stated to be made by the Company on behalf of the Indemnitee, without any admission
of liability by the Indemnitee; and 

  

	 	(iv)	 the Indemnitee receives a full and complete release in respect of the Proceeding. 

 

	(2)	 Indemnitee Co-operation. Provided that all of the
conditions referred to in Section 7(1) are met, the Indemnitee shall execute all documents and do such other things as are reasonably requested by the Company to give effect to a settlement referred to in Section 7(1).

 Section 8 Insurance and Subrogation 

In all policies of the Subject Entities’ liability insurance, the Indemnitee shall be named as an insured in such a manner as to provide
the Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s Indemnitees. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company
determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are too high, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or if the
Indemnitee is covered by insurance of the same scope coverage and effect maintained by a 

  
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subsidiary of the Company. In the event of any payment by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of the
Indemnitee with respect to any insurance policy, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such
rights in accordance with the terms of such insurance policy. The Company shall pay or reimburse all expenses actually and reasonably incurred by the Indemnitee in connection with such subrogation. 

Section 9 Severability 
 If any
section, paragraph, clause or other provision of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal or unenforceable, in whole or in part, such determination shall not affect or impair and shall not be deemed to
affect or impair the validity, legality or enforceability of any other section, paragraph, clause or other provision hereof and each such section, paragraph, clause or other provision shall be interpreted in such a manner as shall render them valid,
legal and enforceable to the greatest extent permitted by applicable law. 
 Section 10 Exceptions 

Notwithstanding any other provision herein to the contrary, pursuant to the terms of this Agreement the Company shall not be obligated: 

 

	 	(i)	 Excluded Acts. to indemnify the Indemnitee for any acts or omissions or transactions from which a
Indemnitee may not be relieved of liability as set forth in the Act; or 

  

	 	(ii)	 Claims Initiated by the Indemnitee. to indemnify or advance Expenses to the Indemnitee with
respect to proceedings or claims initiated or brought voluntarily by the Indemnitee and not by way of defense, except with respect to proceedings brought to establish or enforce a right to indemnification under this Agreement, the Company’s
articles, any other agreement by which the Company is bound, the Act or any other statute or law, or except if such proceedings or claims were authorized or consented to by the Board; or 

 

	 	(iii)	 Lack of Good Faith. to indemnify the Indemnitee for any Expenses incurred by the Indemnitee with
respect to any Proceeding instituted to enforce or interpret this Agreement, if a court of competent jurisdiction determines that any of the material assertions made by the Indemnitee in such proceedings were not made in good faith or were
frivolous; or 

  

	 	(iv)	 Insured Claims. to indemnify the Indemnitee for expenses or liabilities of any type whatsoever
which have been paid directly to the Indemnitee by an insurance carrier under a policy of Agents’ liability insurance maintained by the Company; or 

  
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	 	(v)	 Insider Trading/Tipping Violation(s). to indemnify the Indemnitee on account of any proceeding
with respect to which final judgment is rendered against the Indemnitee for, including, but not limited to, payment or an accounting of profits arising from the purchase or sale by the Indemnitee of securities in violation of any laws regulating
insider trading or tipping; or 

  

	 	(vi)	 Non-compete and
Non-disclosure. to indemnify the Indemnitee in connection with proceedings or claims involving the enforcement of non-compete and/or non-disclosure agreements or the non-compete and/or non-disclosure provisions of employment, consulting or similar agreements the
Indemnitee may be a party to with the Company, or any subsidiary of the Company or any other applicable foreign or domestic corporation, partnership, joint venture, trust or other enterprise, if any; or 

 

	 	(vii)	 Certain Settlement Provisions. to indemnify the Indemnitee under this Agreement for amounts paid
in settlement of any Proceeding without the Company’s prior written consent, which shall not be unreasonably withheld; or 

  

	 	(viii)	 Other Indemnification. to indemnify the Indemnitee for Expenses for which the Indemnitee is
indemnified by the Company otherwise than pursuant to this Agreement. 

 Section 11 Rights of Indemnitee to Apply to Court

 The Company and the Indemnitee hereby acknowledge that pursuant to the provisions of section 164 of the Act, this Agreement shall not
prejudice or restrict the rights of the Indemnitee to make application to the court for an order: 
  

	 	(i)	 that the Company indemnify the Indemnitee against any liability incurred by the Indemnitee in respect of a
Proceeding; 

  

	 	(ii)	 that the Company pay some or all of the expenses incurred by the Indemnitee in respect of a Proceeding;

  

	 	(iii)	 enforcing this Agreement or a payment under this Agreement; or 

 

	 	(iv)	 pursuant to Section 15, that the Company pay some or all of the Expenses actually and reasonably incurred
by the Indemnitee in obtaining an order contemplated hereby and under section 164 of the Act. 

  
 - 9 - 

 Section 12 Effectiveness of Agreement; Continuation of Indemnity 

 

	(1)	 Effectiveness. Nothing in this Agreement is intended to require or shall be construed as
requiring the Company to do or fail to do any act in violation of applicable law. The Company’s inability, pursuant to applicable law or court order, to perform its obligations under this Agreement shall not constitute a breach of this
Agreement. 

  

	(2)	 Continuation. The indemnification and advancement of Expenses by the Company to the Indemnitee
provided for under this Agreement shall survive and continue after termination of the Indemnitee as an officer, director, employee or other Agent as to any acts or omissions by the Indemnitee while serving in such capacity. 

Section 13 Counterparts 
 This
Agreement may be executed in one or more counterparts, each of which shall constitute an original and all of which together shall constitute one and the same instrument. 

Section 14 Successors and Assigns 

This Agreement shall be binding upon the Company and its successors and assigns and shall inure to the benefit of the Indemnitee and the
Indemnitee’s estate, heirs, legal representatives and assigns. 
 Section 15 Legal Expenses 

If any action is instituted by the Indemnitee under this Agreement to enforce or interpret any of the terms hereof, the Indemnitee shall be
entitled to be paid all court costs and expenses, including the reasonable fees of counsel, incurred by the Indemnitee with respect to such action, unless as a part of such action, the court of competent jurisdiction determines that any of the
material assertions made by the Indemnitee as a basis for such action were not made in good faith or were frivolous. 
 Section 16 Notices 

All notices, requests and other communications hereunder shall be in writing, and shall be delivered by courier or other means of personal
service, or sent by electronic mail, or mailed first class, postage prepaid, by registered mail, return receipt requested, in all cases, addressed to: 

Indemnitee:   To the address set out in the recitals hereto 

Email: [INSERT EMAIL ADDRESS HERE] 
 Company:
    Green Thumb Industries Inc. 
 325 West Huron Street, Suite 700 

Chicago, Illinois 60654 

Attention:     Beth E. Burk, General Counsel 

Email: 

  
 - 10 - 

 All notices, requests and other communications shall be deemed given on the date of actual
receipt or delivery as evidenced by written receipt, acknowledgement or other evidence of actual receipt or delivery to the address. 
 Section 17
Consents to Jurisdiction 
 Any and all legal proceedings to enforce this Agreement, whether in contract, tort, equity or otherwise,
shall be brought in the appropriate court in the Province of British Columbia, and the parties hereto hereby agree to attorn to the jurisdiction of the court in the Province of British Columbia and waive any claim or defense that such forum is not
convenient or proper. The Company and the Indemnitee each hereby agrees that any court shall have in personam jurisdiction over it, consents to service of process in any manner prescribed in Section 16 or in any other manner
authorized by British Columbia law, and agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner specified by law. 

Section 18 Governing Law 
 This
Agreement shall be governed by and construed in accordance with the laws of the Province of British Columbia as applied to contracts between British Columbia residents entered into and performed entirely within British Columbia. 

Section 19 Entire Agreement 
 This
Agreement and the documents expressly referred to herein constitute the entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with
respect to the matters covered hereby are expressly superseded by this Agreement. 
 Section 20 Modification and Waiver 

No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver
of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 

  
 - 11 - 

 Section 21 Enforcement 

The Company shall be precluded from asserting in any judicial proceeding that the procedures and presumptions of this Agreement are not valid,
binding and enforceable. The Company agrees that its execution of this Agreement shall constitute a stipulation by which it shall be irrevocably bound in any court of competent jurisdiction in which a proceeding by the Indemnitee for enforcement of
his or her rights hereunder shall have been commenced, continued or appealed, that its obligations set forth in this Agreement are unique and special, and that failure of the Company to comply with the provisions of this Agreement will cause
irreparable and irremediable injury to the Indemnitee, for which a remedy at law will be inadequate. As a result, in addition to any other right or remedy the Indemnitee may have at law or in equity with respect to breach of this Agreement, the
Indemnitee shall be entitled to injunctive or mandatory relief directing specific performance by the Company of its obligations under this Agreement. 

Section 22 Governing Law 
 This
Agreement shall be governed by and construed in accordance with the laws of the Province of British Columbia as applied to contracts between British Columbia residents entered into and performed entirely within British Columbia. 

Section 23 Counterparts 
 This
Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories to the original
or same counterpart. 
 [Remainder of Page Intentionally Left Blank] 

  
 - 12 - 

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

							
	  
 Witness
signature
	 	        	 	  
 [INSERT NAME
HERE]

	 Name:
 (please print)
	 	 

         
	 		 	
				
	Address:	 	          
	 		 	
				
		 	  
	 		 	

  
  

			
	GREEN THUMB INDUSTRIES INC.
		
	By:	 	          

		 	Name:
		 	Title:

  
 - 13 -

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