Document:

EX-10.6

 Exhibit 10.6 
  

 
 December 9th, 2010 

Daniel Weinand 
 Dear Daniel: 

RE:    Offer of Employment 

 
 This letter will confirm our offer of employment to
you as a Chief Design Officer with Jaded Pixel Technologies Inc. (“Jaded Pixel”), starting on December 9th, 2010. The terms and conditions of your employment will be as follows:

  

	1.	Position 

 As mentioned above, you will be employed with us as a Chief Design Officer and
will report to Tobias Lütke, CEO. As a Chief Design Officer you will be primarily responsible for the guidance and design features of Shopify. However, Jaded Pixel is a growing and dynamic company and all employees at Jaded Pixel are asked to
remain flexible in the types of work they are prepared to undertake. This offer assumes that type of flexibility. 
  

	2.	Probationary Period 

 In accordance with Jaded Pixel’s policies, your employment is
probationary for the first three months. The purpose of this probationary period is to provide Jaded Pixel an opportunity to assess your skills and suitability in the position of Chief Design Officer and your fit within the company generally. It
also gives you an opportunity to see if we are a fit for you. During this period Jaded Pixel retains the right to terminate your employment for any reason, upon providing to you only that period of notice (or, at our option, pay in lieu of such
notice), which is required by the Ontario Employment Standards Act. 
  

	3.	Hours of Work 

 We believe that different employees are more productive at different
hours of the day, and during different days of the week. As such, although our office is ordinarily open from 9:00 a.m. until 5:00 p.m. we do not require you to adhere to traditional office hours. Therefore, while we generally expect you to be
working between 35 and 40 hours per week, our focus is on employees acting responsibly and efficiently in a task-driven manner. 
  

	4.	Salary 

 Your salary will be $120,000 per annum, paid in accordance with Jaded
Pixel’s standard payroll practices. In accordance with Jaded Pixel’s policies, your performance and salary will be reviewed on an annual basis. 
  

	5.	Bonus 

 In addition to the Salary mentioned above, you may also receive a bonus. However,

 
bonuses are in the absolute discretion of Jaded Pixel. In deciding whether to award a bonus or not, Jaded Pixel will consider its own profitability and the individual contribution of each
employee. Bonuses, if any, will be paid at various times during the year or at the end of the calendar year. 
  

	6.	Jaded Pixel’s Policies, etc. 

 You agree that you will adhere to Jaded Pixel’s
policies, rules, systems and procedures. Jaded Pixel reserves the right to change the provisions of any of these at any time. 
  

	7.	Employee Benefits 

 (1) You will be entitled to participate in Jaded Pixel’s Family
Health Plan, in effect for all Jaded Pixel employees, after the completion of three (3) full months of employment with Jaded Pixel. 

(2) We have enclosed a copy of our Family Health Plan booklet for your review. However, please note that benefits will be provided in
accordance with the formal plan documents or policies and any issues with respect to entitlement to or payment of benefits under any of terms of the Family Health Plan will be governed by the terms of such documents or policies establishing the
benefit in issue, not the description contained in the enclosed booklet. 
 (3) Finally, please note that the Employer reserves the right to
unilaterally revise or eliminate any of the terms or benefits of the Family Health Plan. 
  

	8.	Vacation and Holidays 

 Similar to our approach on the hours you will work, we are also
flexible when it comes to vacation and holidays. Generally, you will be entitled to three (3) weeks vacation per year; however, we may at our discretion accommodate reasonable requests for additional vacation days. Vacation is to be taken at a
time and for a duration that is approved by management. Vacation should be taken during the calendar year and can only be carried over to the next calendar year with written approval. In addition to vacation, you will be entitled to be paid for all
public holidays in accordance with the provisions of the Ontario Employment Standards Act. 
  

	9.	Termination of Employment 

 (1) It is always difficult to consider termination just when
a new relationship is starting out, however, we believe that it is important that you understand and agree to your entitlements upon termination. 

(2) Clause 2 above explains what you are entitled to if we terminate your employment with us during your probationary period. 

(3) If we terminate your employment after your probationary period, unless you are terminated for “cause”, Jaded Pixel will provide
you with the greater of. 
  

	 	a)	two weeks of notice (or, at our option, pay in lieu of such notice), or 

  

	 	b)	that period of notice (or, at our option, pay in lieu such notice) and severance pay if any, required by the Ontario Employment Standards Act, plus one (1) additional week of notice (or, at our option, pay in lieu
of such notice) for each completed full year of employment as of the date upon which you receive notice of termination. 

 (4) In addition, the Employer will ensure that it complies with any other provisions of the
Ontario Employment Standards Act which apply to the termination of your employment. For example, Jaded Pixel will continue all of your Family Health plan benefits for the period, if any required by such legislation. 

(5) If you are terminated for “cause”, or you resign from your employment, you will not receive any notice or pay in lieu or
severance pay. “Cause” for this purpose includes such things as unsatisfactory performance, dishonesty, insubordination and serious misconduct, as well as anything else which would legally constitute “cause”. 

(6) Upon the termination of your employment with Jaded Pixel, you must return all Jaded Pixel property, including any Confidential Information,
as defined in the attached Confidentiality, Non-Competition and Non-Solicitation Agreement, and you agree that you will not retain any copies of the Confidential Information. 
  

	10.	Confidentiality, Non-Competition and Non-Solicitation Agreement 

 We enclose our standard
agreement regarding confidential information, non-solicitation and non-competition. This offer of employment is conditional upon you accepting the terms of these agreements. 

If you are prepared to accept employment with Jaded Pixel in accordance with the terms and conditions outlined in this letter please sign both the
Confidentiality, Non-Competition and Non- Solicitation Agreement and this letter and return them to me. When you have done so, this letter will constitute a binding agreement between you and Jaded Pixel with
respect to your employment. The extra copies are for your personal files. 
 We are delighted to have you join the Jaded Pixel and look forward to your
acceptance of this offer. 
 Yours truly, 

Jaded Pixel Technologies Inc. 
  

/s/ Tobias Lütke 

Per: Tobias Lütke 

EMPLOYEE’S AGREEMENT 
 I have read,
understood and agree with the foregoing. I have had a reasonable opportunity to consider this letter and the matters set out therein. I accept employment with Jaded Pixel on the terms and conditions set out in this letter. 

 

					
	 Dec. 9th, 2010
				 /s/ Daniel Weinand

	December 9th, 2010				Daniel Weinand

 Jaded Pixel Technologies Inc. Standard Confidentiality, Non-Competition and Non-Solicitation
Agreement 
 Annex A: Confidentiality, Non-Competition and Non-Solicitation Agreement 

 

	1.	Introduction 

 This Confidentiality, Non-Competition and Non-Solicitation Agreement (the
“Agreement) is between me, Daniel Weinand and Jaded Pixel Technologies Inc. (“Jaded Pixel”), and it forms an integral part of Jaded Pixel’s Offer of Employment. The Agreement confirms my commitment to abide by certain terms and
conditions related to confidentiality, non-competition and non-solicitation. 
 In consideration of the Offer of Employment, and the payment
of salary and benefits contained therein, I agree to be bound by the terms and conditions in this Agreement. 
  

	2.	Definitions 

 (1) “Confidential Information” means all of the materials and
information on (whether or not reduced to writing and whether or not patentable or protected by copyright) provided by Jaded Pixel to me, or which is available to me during the course of my employment with Jaded Pixel, including, but not limited to,
the following: 
  

	 	(a)	customer lists, records and statistics; 

  

	 	(b)	profits, costs and pricing data, sales policies, marketing plans and strategies, and any other information relating to the marketing, distribution, sale or supply of Jaded Pixel’s products and/or services;

  

	 	(c)	personnel information, including but not limited to, the names and backgrounds of key personnel, personnel lists, information about compensation and benefits, performance evaluations of personnel and training and
promotional policies; 

  

	 	(d)	Inventions, as defined below; 

  

	 	(e)	records and other materials in the form of art work, illustrations, notes, letters, data, tapes, reference items, models, sketches, blueprints, drawings and writings, in any way relating to any of the above information
and any and all copies or extracts thereof; 

  

	 	(f)	technical and business information of Jaded Pixel’s clients which was obtained as a result of or in connection with the provision of services to such clients, including information regarding the business
operations, methods and practices and product plans of such clients; and 

  

	 	(f)	any other materials or information related to Jaded Pixel’s business which is not generally known to others; 

regardless of whether such materials or information are in paper or electronic format or any other format. 

a. “Inventions” means all artworks, copy writing, marketing or media plans, concepts, copyrights, copyrightable works,
computer data, developments, designs, discoveries, formulae or other intellectual property, ideas, improvements, industrial designs, innovations, inventions, know-how, patents, plans, processes, programs, schematic drawings, specifications,
techniques, technology, topographies, trademarks, trade secrets (whether patentable or unpatentable) (including source code materials), which I make or discover by myself or in conjunction with others while employed by Jaded Pixel, which arise,

 Jaded Pixel Technologies Inc. Standard Confidentiality, Non-Competition and Non-Solicitation
Agreement 
  

 
directly or indirectly, from my employment with Jaded Pixel, and which pertain to a business in which Jaded Pixel is engaged, is reasonably expected to engage in, or in which it has previously
expressed an intention to enter 
 (3) “Pre-employment Inventions” means any Inventions that I made prior to
my employment by Jaded Pixel. 
  

	3.	Commitment to Protect Confidential Information 

 (1) I acknowledge that Jaded Pixel owns
and has a valuable interest in the Confidential Information that it develops in its operations. 
 (2) I acknowledge as an employee of Jaded
Pixel, that I have access to this Confidential Information, which includes information not generally known in the industry, which was discovered, developed or obtained as a result of my employment with Jaded Pixel. 

(3) Accordingly, I agree as follows: 
  

	 	(a)	Both during and after my employment with Jaded Pixel, I will: 

  

	 	i.	keep in confidence all Confidential Information and not, directly or indirectly, disclose any Confidential Information to any person whatsoever; 

 

	 	ii.	not, directly or indirectly, use any Confidential Information for my own benefit or for the benefit of any person or business whatsoever; and 

 

	 	iii.	not, directly or indirectly, use or copy any Confidential Information for any reason, except when reasonably necessary for the purpose of performing my duties as an employee of Jaded Pixel or with the consent of Jaded
Pixel. 

  

	 	(b)	In the event of the termination of my employment, for whatever reason, I agree that I will promptly deliver to Jaded Pixel all Confidential Information in my possession and I will not take, copy or retain any records or
other materials in any way relating to any Confidential Information without Jaded Pixel’s prior written-permission. 

  

	 	(c)	I confirm: 

  

	 	i.	that I do not have in my possession Confidential Information belonging to others, and therefore I will not use or disclose same to Jaded Pixel during my employment; and 

 

	 	ii.	that my employment will not require me to violate any obligation to or confidence with any other party (including, but not limited to, any previous employers). 

 

	 	(d)	I agree to comply with any procedures that Jaded Pixel may adopt from time to time to preserve the confidentiality of any Confidential Information. 

 

	 	(e)	I agree that the absence of any notice indicating confidentiality on any material will not imply that it is not Confidential Information. 

 

	 	(f)	Jaded Pixel agrees that the obligations imposed by this clause 3 on me shall not apply to information which: 

  

	 	i.	at the time it is received is in the public domain; 

  

	 	ii.	subsequently comes into the public domain through no fault of mine; 

  

	 	iii.	is lawfully received by me from a third party on an unrestricted basis; 

  

	 	iv.	is already legitimately known to me prior to disclosure; or 

  

	 	v.	is required by law to be disclosed, 

 Jaded Pixel Technologies Inc. Standard Confidentiality, Non-Competition and Non-Solicitation
Agreement 
  

 provided, however, that I shall first have given prompt notice to Jaded Pixel of any
possible or prospective order or proceeding pursuant to which any order may result which requires me to disclose any Confidential Information; and Jaded Pixel shall have been afforded a reasonable opportunity to prevent or limit any such disclosure
of any of the Confidential Information. I understand and agree that this subparagraph does not grant to me any right or licence. 
  

	4.	Commitment to Disclose Inventions 

 (1) I agree that during my employment with Jaded
Pixel and at any time thereafter, I will notify my immediate supervisor promptly in writing of all inventions. 
 (2) Subject to clause 4(4),
I agree that all Inventions shall be the sole property of Jaded Pixel. I waive in whole any moral rights I may have in each of the Inventions and any part or parts thereof, including but not limited to the right to the integrity of the Invention,
the right to be associated with the Invention as its author by name or under a pseudonym and the right to remain anonymous. Such agreement to waive is applicable regardless of whether the Inventions are considered works made in the course of
employment or whether they are copyrightable. I will assist Jaded Pixel and/or its nominees (without charge but at no expense to me) at any time and in every proper way to obtain for its and/or their own benefit, patents and copyrights for all such
Inventions anywhere in the world and to enforce its and/or their rights in legal proceedings. 
 (3) Subject to clause 4(4), I assign to
Jaded Pixel all rights and interests in all such Inventions which pertain to a business in which Jaded Pixel is engaged, is reasonably expected to engage in, or in which it has previously expressed an intention to enter, except any Pre-Employment
Inventions which I cannot assign to Jaded Pixel because of a prior invention agreement with a previous employer. 
 (4) Jaded Pixel
recognizes the entrepreneurial background of its employees, and as a result, I understand that I may request that Jaded Pixel exempt my invention from clause 4 of this Agreement (an “Exempted invention”). Such an exemption is at the sole
discretion of Jaded Pixel and a written agreement executed by Jaded Pixel agreeing to the Exempted Invention must be provided by Jaded Pixel in order for any exemption to apply. 

(5) Every Invention, that is not an Exempted Invention, disclosed to anyone other than Jaded Pixel within six (6) months after the
termination of my employment with Jaded Pixel will be presumed to be the property of Jaded Pixel, unless it is proved that such Invention was first made or conceived after termination of my employment with Jaded Pixel. 

(6) During my employment with Jaded Pixel and at any time thereafter, I will, at the request and expense of Jaded Pixel, complete and return to
Jaded Pixel all documents necessary for the preparation and filing of applications covering the registration of intellectual property rights in Inventions in all countries, as well as perform all other acts which Jaded Pixel may deem necessary or
advisable for the purpose of protecting or recognizing Jaded Pixel’s rights to same. 
 (7) I acknowledge that Jaded Pixel may from time
to time have agreements with other persons or with the Canadian government or its agencies that impose 

 Jaded Pixel Technologies Inc. Standard Confidentiality, Non-Competition and Non-Solicitation
Agreement 
  

 
obligations or restrictions on Jaded Pixel regarding Inventions made during the course of work under such agreements or regarding the confidential nature of such work. I agree to be bound by all
such obligations or restrictions and to take all action necessary to discharge the obligations Jaded Pixel may have under such agreements. 

(8) Upon the termination of my employment with Jaded Pixel, I agree to surrender promptly to Jaded Pixel all records or other evidence of any
Inventions that are not Exempted Inventions. 
  

	5.	Non-competition 

 I agree that I will not, during the duration of my employment and for a
period of eight (8) months following the termination of my employment whether as principal, as agent or as an employee of, or in partnership or association with, any person, firm or corporation or in any manner whatsoever, directly or
indirectly: carry on, be engaged in, advise, own shares, lend money to, guarantee the debts or obligations of, or permit my name to be used or employed by, any person, firm or corporation engaged in, concerned with or interested in marketing or
advertising services or providing electronic illustration services, anywhere within the geographical area of Canada or any other areas where Jaded Pixel markets its products and services (other than solely as a holder of not more than 1% of the
issued and outstanding voting shares of any public corporation). 
  

	6.	Non-solicitation 

 (1) I further agree that for a period of twelve (12) months
following the termination of my employment, for whatever reason, I will not, directly or indirectly, solicit business from any client or potential client of Jaded Pixel which was served or solicited by me directly or indirectly on behalf of Jaded
Pixel within the twelve (12) months immediately preceding the termination of my employment. 
 (2) I further agree that for a period of
twelve (12) months following the termination of my employment, I will not, directly or indirectly, hire or take away or cause to be hired or taken away, any employee of Jaded Pixel who was in the employ of Jaded Pixel during the twelve
(12) months preceding the termination of my employment. 
  

	7.	Injunctive Relief 

 (1) I acknowledge and confirm that the scope of the covenants in
clauses 5 and 6 are in all respects (and particularly in respect of area, time and subject matter), no more than is reasonable to protect Jaded Pixel’s interests. 

(2) I understand and agree that the damages which Jaded Pixel might suffer from my violation of any of my obligations set out in this Agreement
would be difficult or impossible to measure and that Jaded Pixel is entitled to, in addition to all other remedies it may have, injunctive relief for any such violation (including interim, interlocutory and permanent injunctive relief). 

 

	8.	General Agreement Provisions 

 (1) Each provision in this Agreement is separate and
distinct. In the event that any provision in this Agreement is determined by a court to be invalid, such provision will be severable from this Agreement and the validity of the other 

 Jaded Pixel Technologies Inc. Standard Confidentiality, Non-Competition and Non-Solicitation
Agreement 
  

 
provisions shall not be affected. 
 (2) The failure of Jaded Pixel to require the
performance of any term of this Agreement, or the waiver by Jaded Pixel of any breach of this Agreement by me shall not prevent a subsequent exercise or enforcement. of such terms or be deemed a waiver of any subsequent breach of the same or any
other term of this Agreement. 
 (3) My obligations under this Agreement shall survive the termination of my employment regardless of the
reasons for such termination and whether such termination is occasioned by me, by Jaded Pixel with or without cause, or by mutual agreement. 

(4) I acknowledge that: 
  

	 	(a)	I have had time to review this Agreement and to obtain independent legal advice in connection with it and its execution; 

  

	 	(b)	I fully understand its contents; 

  

	 	(c)	I have signed it freely and voluntarily; 

  

	 	(d)	this Agreement is reasonable and I understand that it is necessary to protect the legitimate interests of Jaded Pixel. 

(5) The terms and conditions of this Agreement can only be modified by the written agreement of the parties. 

(6) This Agreement shall be construed in accordance with, and governed by, the laws of the Province of Ontario and the laws of Canada
applicable therein, without reference to conflicts of laws. The courts of Ontario shall have exclusive jurisdiction over all disputes that may arise between the parties arising from this Agreement. 

 Jaded Pixel Technologies Inc. Standard Confidentiality, Non-Competition and Non-Solicitation
Agreement 
  

 DATED at the City of Ottawa, Province of Ontario, this
9th day of December, 2010. 
  

			
	Daniel Weinand
		
	Signature:		 /s/ Daniel Weinand

	Name:		Daniel Weinand
	Address:		76 Jolliet Ave, Ottawa K1C 5H2
	
	Jaded Pixel Technologies Inc.
		
	BY:		 /s/ Tobias Lütke

	Name:		Tobias Lütke
	Title:		CEOEX-10.7

 Exhibit 10.7 

DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT (the “Agreement”) dated
—, 2015, between Shopify Inc. (the “Corporation”), a corporation incorporated under the Canada Business Corporations Act and
— (the “Indemnified Party”). 
 RECITALS: 

 

	 	(a)	The Corporation desires to attract and retain highly qualified individuals to serve as officers and directors of the Corporation or other bodies corporate with which the Corporation has a relationship (an
“Included Entity”), and to indemnify them to the maximum extent permitted by law. 

  

	 	(b)	The Indemnified Party has consented to act as a [director] [officer] of the [Corporation] [and] [—]. 

In consideration of the foregoing and for other good and valuable consideration, the parties agree as follows: 

 

	1.	Indemnity 

  

	 	(a)	Subject to Sections 4 and 5 of this Agreement, the Corporation agrees to indemnify and save the Indemnified Party harmless to the fullest extent permitted by applicable law, from and against all Liabilities (as defined
below). 

  

	 	(b)	“Liabilities” means all losses, liabilities, claims, damages, costs, charges or expenses which the Indemnified Party reasonably incurs in respect of any Proceeding (as defined below), including, without
limitation: 

  

	 	(i)	an amount paid to settle an action or satisfy a judgment in respect of any Proceeding; 

  

	 	(ii)	all legal and other professional fees and disbursements incurred in connection with any Proceeding; 

  

	 	(iii)	all reasonable out-of-pocket expenses incurred by the Indemnified Party to prepare for any Proceeding, including out-of pocket expenses for attending discoveries, trials, hearings, and meetings; 

 

	 	(iv)	any fines or other financial penalties imposed against the Indemnified Party in connection with any Proceeding as a result of a conviction or reprimand under the law because of the Indemnified Party’s position as
director or officer of the Corporation or an Included Entity; and 

  

	 	(v)	 the full amount of any income taxes that the Indemnified Party is required to pay as a consequence of receiving any payment made by the Corporation
pursuant to this Agreement, unless, in 

	 	
computing the Indemnified Party’s income for income tax purposes the Indemnified Party is entitled to deduct the amounts paid by the Indemnified Party on account of Liabilities for which the
Indemnified Party has been indemnified by the Corporation under this Agreement. 

  

	 	(c)	“Proceeding” means any civil, criminal, administrative, investigative or other proceeding whether anticipated, threatened, pending, commenced, continuing or completed, and any appeal or appeals
therefrom, which (i) the Indemnified Party is involved in or made a party to, and (ii) arises because the Indemnified Party is or was a director or officer of the Corporation or an Included Entity. 

 

	2.	Written Notice by Indemnified Party 

 Forthwith upon the Indemnified Party becoming aware
of any Proceeding which may give rise to indemnification under this Agreement (other than a Proceeding commenced by the Corporation or an Included Entity), the Indemnified Party shall give written notice to the Chief Executive Officer and the
General Counsel of the Corporation. Failure to give written notice in a timely fashion shall not disentitle the Indemnified Party to indemnification, except if and to the extent that the Corporation suffers prejudice by reason of the delay. 

 

	3.	Advance of Costs 

 Subject to Section 4 of this Agreement, the Corporation agrees to
advance monies to the Indemnified Party for all reasonable costs, charges and expenses as they are incurred and in advance of the final disposition of any Proceeding, which have been incurred by the Indemnified Party in the monitoring, investigation
or defense of any Proceeding. For greater certainty, subject as hereinafter provided, it shall not be necessary for the Indemnified Party to pay such costs, charges and expenses and then seek reimbursement; the Indemnified Party shall provide bona
fide receipts and statements of account to the Corporation for direct payment by the Corporation. If, pursuant to Section 5 of this Agreement, the Corporation has no obligation or liability to indemnify the Indemnified Party under this Agreement,
the Indemnified Party shall repay any monies that have been advanced to the Indemnified Party by the Corporation pursuant to this Agreement. 
  

	4.	Application to Court 

 In respect of an action by or on behalf of the Corporation or any
Included Entity to procure a judgement in its favour to which the Indemnified Party is made a party because of the Indemnified Party’s position as a director or officer of the Corporation or the Included Entity, the Corporation will, upon the
Indemnified Party’s request, make an application for the approval of a court to make advances pursuant to Section 3 of this Agreement and to indemnify the Indemnified Party, in accordance with Section 124(4)

  
 - 2 - 

 
of the Canada Business Corporations Act. The Corporation will have no obligation or liability to advance monies under Section 3 of this Agreement, or to indemnify the
Indemnified Party under this Agreement, in respect of any action to which Section 124(4) of the Canada Business Corporations Act applies unless and until court approval for such advance or indemnity is obtained. 

 

	5.	Limitation 

  

	 	(a)	The indemnity described in this Agreement shall not apply to (i) claims initiated by the Indemnified Party against the Corporation or an Included Entity except for claims relating to the enforcement of this
Agreement or (ii) claims initiated by the Indemnified Party against any other person or entity unless the Corporation or the Included Entity has joined with the Indemnified Party in or consented to the initiation of that Proceeding.

  

	 	(b)	The Corporation will have no obligation or liability to indemnify the Indemnified Party under this Agreement if it is determined by a court of competent jurisdiction in a final order that is not subject to further
appeal that (i) the Indemnified Party did not act honestly and in good faith with a view to the best interests of the Corporation or the Included Entity, as applicable; or (ii) in the case of a criminal or administrative action or
proceeding that is enforced by a monetary penalty, the Indemnified Party did not have reasonable grounds for believing that the Indemnified Party’s conduct was lawful. 

 

	6.	Assumption of Defence 

 The Corporation shall be entitled to participate, at its own
expense, in the defence of any Proceeding (other than a Proceeding commenced by the Corporation). If the Corporation so elects after receipt of notice of a Proceeding, or the Indemnified Party in such notice so directs, the Corporation shall assume
control of the negotiation, settlement or defence of any Proceeding, in which case such defence shall be conducted by counsel chosen by the Corporation and reasonably satisfactory to the Indemnified Party. If the Corporation elects to assume such
control, the Indemnified Party shall have the right to participate in the negotiation, settlement or defence of such Proceeding and to retain counsel to act on his or her behalf, provided that the fees and disbursements of such counsel shall be paid
by the Indemnified Party unless the Corporation consents to the retention of such counsel or unless the parties to any such Proceeding include both the Corporation and the Indemnified Party and the Corporation and the Indemnified Party, acting
reasonably, shall have concluded that representation of both the Corporation and the Indemnified Party by the same counsel would be inappropriate due to actual or potential differing interests between them, including the availability of legal
defences to the Indemnified Party which are different from or additional to those available to the Corporation. The Indemnified Party and the Corporation shall co-operate fully with each other and their respective counsel in the investigation and
defence of any Proceeding and shall make available to each other all 

  
 - 3 - 

 
relevant books, records, documents and files and shall otherwise use their respective best efforts to assist such counsel in the proper and adequate defence of any Proceeding. 

 

	7.	Payment for Expenses of a Witness 

 To the extent that the Indemnified Party is, by
reason of the fact that the Indemnified Party is or was a director or officer of the Corporation or an Included Entity, a witness or participant other than as a named party in a Proceeding, the Corporation shall pay to the Indemnified Party all
out-of-pocket costs, charges and expenses actually and reasonably incurred by the Indemnified Party or on the Indemnified Party’s behalf in connection therewith, and payment at a rate of $200 per hour for the time reasonably spent by the
Indemnified Party in preparing for, instructing or receiving the advice of counsel or attending meetings in connection thereto or participating as a witness therein. 
  

	8.	Settlement 

  

	 	(a)	The Corporation may, with the prior written consent of the Indemnified Party (which consent shall not be unreasonably withheld, conditioned or delayed), enter into a settlement or other agreement to settle or compromise
a Proceeding, provided that the Indemnified Party is indemnified by the Corporation for all Liabilities incurred in connection therewith. 

  

	 	(b)	The Indemnified Party shall have the right to negotiate a settlement in respect of any Proceeding, provided however that in such circumstances, unless the Corporation approves such settlement (which approval shall not
be unreasonably withheld, conditioned or delayed), the Indemnified Party shall pay any compensation or other payment to be made under the settlement and the costs of negotiating and implementing the settlement, and shall not seek indemnity from the
Corporation in respect of such compensation, payment or costs. The Corporation shall not be liable for any settlement of any Proceeding effected without its prior written consent (which consent shall not be unreasonably withheld, conditioned or
delayed). 

  

	9.	Mandatory Obligation to Indemnify 

 Nothing in this Agreement shall in any way adversely
affect or diminish the obligation of the Corporation to indemnify the Indemnified Party pursuant to Section 124(5) of the Canada Business Corporations Act, and shall not operate to abridge or exclude any other rights, in law or in
equity, to which the Indemnified Party or the Corporation may be entitled by operation of law. 

  
 - 4 - 

	10.	Directors’ & Officers’ Insurance 

 The Corporation shall use its
reasonable commercial efforts to ensure that it has in place at all times a directors’ and officers’ liability insurance policy that has been approved by the Board of Directors of the Corporation under which the Indemnified Party is
covered in his capacity as a current or former director or officer of the Corporation or Included Entity. Upon the Indemnified Party ceasing to be a director or officer of the Corporation, the Corporation shall continue to purchase and maintain or
cause to be purchased and maintained such insurance on terms at least as favourable as that provided immediately before such time or as purchased and maintained for the directors and officers then in office or, failing that, a non-cancellable
run-off policy or an endorsement or rider to any existing or previous policy providing equivalent coverage or an extension to the period within which any claim may be reported under such policy for a period not less than six (6) years, subject,
in either case, to such policy, renewal, endorsement or rider being available on commercially reasonable terms and conditions. 
  

	11.	Arrangements to Satisfy Obligations Hereunder; Notification of Transactions 

 The
Corporation shall not carry out any arrangement, amalgamation, winding-up, amendment of its constating documents or any other transaction or series of transactions which may result in the Corporation ceasing to exist as a legal entity or
substantially impairing its ability to fulfill its obligations hereunder (a “Specified Transaction”) unless and until the Corporation has made adequate arrangements, acting reasonably, to fulfill its obligations hereunder, which
arrangements may include, without limitation, the assumption of any liability hereunder by any successor to the assets or business of the Corporation or the prepayment of any premium for any insurance contemplated in Section 10. 

 

	12.	Insolvency 

 It is the intention of the parties hereto that this Agreement and the
obligations of the Corporation shall not be affected, discharged, impaired, mitigated or released by reason of any arrangement, proposal, bankruptcy, insolvency, receivership or other similar proceeding of creditors of the Corporation. 

 

	13.	Subrogation 

 To the fullest extent permitted by law, the Corporation shall be subrogated
to all rights which the Indemnified Party may have under all policies of insurance or other contracts pursuant to which the Indemnified Party may be entitled to reimbursement of, or indemnification in respect of, any Liabilities borne by the
Corporation pursuant to this Agreement. 
  

	14.	Waiver 

  

  
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 No waiver of any of the provisions of this Agreement will constitute a waiver of any other
provision (whether or not similar). No waiver will be binding unless executed in writing by the party to be bound by the waiver. A party’s failure or delay in exercising any right under this Agreement will not operate as a waiver of that right.
A single or partial exercise of any right will not preclude a party from any other or further exercise of that right or the exercise of any other right it may have. 
  

	15.	Survival 

 Nothing in this Agreement shall prevent the Indemnified Party from resigning
as a director or officer/employee, or both, of the Corporation or any other body corporate at any time. This Agreement shall survive any such resignation or any other circumstance by reason of which the Indemnified Party shall cease to be a director
or officer/employee of the Corporation or any other body corporate. 
  

	16.	Successors and Assigns 

 This agreement becomes effective only when executed by both
parties. After that time, it will be binding upon and enure to the benefit of the parties and their respective successors, heirs, executors, administrators and permitted assigns. Neither this Agreement nor any of the rights or obligations under this
Agreement are assignable or transferable by either party without the prior written consent of the other party. 
  

	17.	Severability 

 If any provision of this Agreement is determined to be illegal, invalid or
unenforceable by an arbitrator or any court of competent jurisdiction from which no appeal exists or is taken, that provision will be severed from this Agreement and the remaining provisions will remain in full force and effect. 

 

	18.	Governing Law 

 This agreement is governed by, and will be interpreted and construed in
accordance with, the laws of the Province of Ontario and the federal laws of Canada applicable therein. 
  

	19.	Entire Agreement 

 This agreement supercedes and replaces any prior agreement entered
into between the Indemnified Party and the Corporation providing for indemnification or similar rights in relation to the Indemnified Party acting as a director or officer of the Corporation or any Included Entity. For greater certainty, once
executed by both parties, this Agreement shall be effective from the date the Indemnified Party was first elected or appointed as a director or officer of the Corporation or the Included Entity. 

 

	20.	Counterparts 

  

  
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 This agreement may be executed in any number of counterparts, each of which is deemed to be an
original, and such counterparts together constitute one and the same instrument. Transmission of an executed signature page by facsimile, email or other electronic means is as effective as a manually executed counterpart of this Agreement. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF the parties have executed this Agreement. 

 

			
	SHOPIFY INC.
		
	By:		  

			Authorized Signing Officer

  

					
	  
				  

	Witness (signature)				[Director/Officer]
			
	  
				
	Witness Name (print)				

  
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