Document:

CONSULTANT
AGREEMENT

 

THIS
CONSULTANT AGREEMENT (the “Agreement”), dated and effective as of the _______  day of __________ 2017 (the
“Commencement Date”), is entered by and between Scythian Biosciences Corp., a body corporate formed under the Business
Corporations Act (Ontario) (the “Company”), with a registered office located at 1 First Canadian Place,
100 King Street West, Toronto, Ontario, M5X 1G5, Canada and ALOE Finance Inc. (“Consultant”) having an address at
366 Bay Street, Suite 200, Toronto, Ontario, M5H 4B2. The Company and Consultant may hereinafter be referred to individually
as a “Party” or collectively as the “Parties”.

 

WITNESSETH:

 

WHEREAS,
the Company desires to procure the services of Consultant and Consultant desires to provide such services to the Company,
all upon the terms and conditions hereinafter set forth;

 

NOW,
THEREFORE, in consideration of the mutual promises contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Company and Consultant agree as
follows:

 

	1.	Engagement
    and Services

 

The
Company agrees to engage Consultant to provide advisory and consulting services of a nature customarily provided by a Chief Financial
Officer of the Company (“Services”). For purposes of the engagement under this Agreement (“Engagement”), Consultant
shall devote such portion of time and attention as is necessary to provide the Services.

 

In
performing the Services, Consultant will liaise directly with the Chief Executive Officer of the Company or such other person
as the Company may designate from time to time (“Company Liaison”).

 

Consultant
has assigned the following person(s) to perform the Services on behalf of Consultant (“Assigned Person”): Jonathan Held.
Consultant will not substitute any other individual for Assigned Person without the prior written consent of the Company Liaison.

 

Consultant
acknowledges that providing the Services will involve undertaking reasonable business travel (both domestic and cross-border)
from time to time. Accordingly, Assigned Person will be required to maintain an up to date passport at all times.

 

Consultant
will devote such time as will be required to perform the Services. It is expressly understood and acknowledged that the Engagement
is non-exclusive and Consultant and Assigned Person may have other employment or engagements, provided always that their other
employment, engagements or other involvements must not be harmful to or competitive with the Company, and must not in any way
constitute (and must not be capable of being reasonably perceived to constitute) a conflict of interest with Consultant’s
obligations under this Agreement.

 

    	Page 1 of 13	 	 

     

    

 

Consultant
hereby warrants that:

 

	 	(i)	Consultant
    and Assigned Person are duly qualified and have the necessary skills and training to perform the Services; and such Services
    will be performed to the reasonable satisfaction of the Company, in accordance with the highest degree of care and skill and
    the highest professional and industry standards; and
	 	 	 
	 	(ii)	any
    work product developed in the course of performing the Services will be Consultant’s or Assigned Person’s original
    work and will not infringe or otherwise violate any copyright, trade-mark, trade secret, contractual or other proprietary
    rights of any third party.

 

	2.	Term
    of Engagement; Renewals

 

	 	(a)	Term
    The Engagement will commence on the Commencement Date, and will continue until the end of One (1) year from the Commencement
    Date, unless sooner terminated pursuant to the terms of this Agreement (the “Initial Term”). The “Term”
    is defined as the Initial Term plus any “Renewal Terms” as such term is defined in the next section.
	 	 	 
	 	(b)	Automatic
    Renewals After the Initial Term, this Agreement will automatically renew for subsequent terms of One (1) year (each subsequent
    One (1) year period termed a “Renewal Term”) unless either the Company or Consultant provides to the other not less
    than Thirty (30) days prior to the expiration of the then existing Term written notice of non-renewal. The terms and conditions
    of this Agreement will continue to apply to each such Renewal Term as part of the Term, except as expressly agreed otherwise
    by the Parties in writing at the time of such renewal.

 

	3.	Compensation;
    Invoicing and Payment

 

Where
required by law, Consultant must register for and charge applicable goods and services and/or harmonized sales tax (collectively,
“Taxes”).

 

	 	(a)	Fees
    Consultant will receive a monthly retainer fee of $10,000 (“Retainer Fee”), prorated for partial months of Services.
    The Retainer Fee plus applicable Taxes will be payable monthly on or about the first day of each month.
	 	 	 
	 	 	Consultant
    will also receive an administration fee equal to 2% of the Retainer Fee (“Administrative Fees”). The Administrative
    Fees plus applicable Taxes will be payable in accordance with Section 3(c) below.
	 	 	 
	 	(b)	Expenses
    Consultant will be reimbursed for reasonable and customary travel expenses properly incurred as required to perform the
    Services, subject to the delivery of appropriate statements and receipts verifying such expenses and approval by the Company.
	 	 	 
	 	(c)	Invoicing
    and Payment Consultant will submit a written invoice to the Company (to the attention of the Company Liaison) monthly,
    on the first business day of each month starting on the Commencement Date, for Administrative Fees and expenses incurred in
    the prior month. The invoice will separately itemize Administrative Fees, expenses, and applicable Taxes. Where Consultant
    is claiming reimbursement for expenses, appropriate statements and receipts verifying such expenses will be included. Payment
    will be made upon the receipt of an approved invoice.

 

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	 	(d)	Equity
    Compensation Consultant will also be entitled to participate in the stock option and/or equity stock ownership programs
    for ownership in the Company as provided for in Schedule 1 to this Agreement.

 

	4.	Termination

 

In
the event of non-renewal, this Agreement will automatically terminate at the end of the Term, unless sooner terminated in accordance
with this Section 4.

 

	 	(a)	Definitions.
    For purposes of this Agreement:

 

	 	(i)	“Change
    of Control” means the occurrence of one of the following events after the Commencement Date: (1) the acquisition by any
    “Person” (as such term is defined in Section 3(a)(9) of the Securities Exchange Act of 1934 (the “Exchange
    Act”) or Section 1(1) of the Securities Act (Ontario), directly or indirectly, of a sufficient amount of the combined
    voting power of the then outstanding securities entitled to vote generally in the election of directors of the Company that
    such acquisition results in such Person owing in excess of 35% of such combined voting power or (2) any merger, consolidation,
    reorganization, recapitalization, tender or exchange offer or any other transaction with or effecting the Company as a result
    of which a Person owning more than 35% of the combined voting power of the then outstanding securities entitled to vote
    generally in the election of the directors of the Company, or (3) the sale, lease, exchange, transfer or other disposition
    to any Person of all or substantially all of the assets of the Company and its consolidated subsidiaries.
	 	 	 
	 	(ii)	“Material
    Breach” means: (i) the occurrence of an intentional material breach of any material covenant contained in this Agreement
    by Consultant or Assigned Person and the failure to cure such alleged breach alter Thirty (30) days prior written
    notice to Consultant specifying both the basis of such breach and expressly stating what remedial action is
    required to cure such breach (provided that the Company reserves the right to suspend Consultant and Assigned Person without
    compensation at any time during and pending the expiry of such cure period); or (ii) Consultant’s or Assigned Person’s
    theft or embezzlement from the Company during the Term of this Agreement, or (iii) Consultant’s or Assigned Person’s
    conviction of a felony or indictable offence under the laws of Canada or the United States; or (iv) a final order by the Canadian
    provincial securities commission pertaining to Consultant or Assigned Person that could reasonably be expected to impair or
    impede Consultant or Assigned Person from performing the Services.
	 	 	 
	 	(iii)	“Termination
    Date” means the date designated by the Company as the effective day on which the Engagement ceases for any reason whatsoever
    (regardless of any period of notice or compensation in lieu to which Consultant or Assigned Person may claim to be or be entitled
    under statute, contract or otherwise at law).

 

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	 	(b)	Termination
    by Company

 

	 	(i)	Termination
    For Material Breach The Engagement may be terminated by the Company at any time for Material Breach. To be effective the
    determination of Material Breach must be made by a majority of the Board of Directors after notice to Consultant and Assigned
    Person and an opportunity for Consultant and Assigned Person to be heard by the Board of Directors. Upon termination for Material
    Breach, Section 4(1) will apply. In the event that the Company terminates the Engagement for Material Breach and a final and
    binding decision is rendered in any legal proceeding finding the termination was not properly for Material Breach, Consultant
    will be entitled to all sums set forth in Section 4(b)(ii) as if the Engagement had been terminated for convenience, plus
    any legal fees expended in connection with such legal proceedings.
	 	 	 
	 	(ii)	Non-renewal;
    Termination for Convenience; Termination by Consultant upon Change of Control The Company reserves the right to terminate
    the Engagement for convenience at any time prior to the expiry of the Term, or to decline to renew the Term. In the event
    that: (a) the Company declines to renew the Term; (b) the Engagement is terminated by the Company for convenience; or (c)
    Consultant terminates upon Change of Control in accordance with Section 4(c)(i) below, in addition to those entitlements and
    obligations set out in Section 4(1), Consultant will be entitled to a termination fee equal to Six (6) months’ Retainer
    Fees, to be provided to Consultant by the Company within Thirty (30) days of the Termination Date.

 

	 	(c)	Termination
    by Consultant

 

	 	(i)	Upon
    Change of Control If Consultant wishes to terminate this Engagement upon a Change of Control then within Fourteen (14)
    days following the occurrence of the Change of Control, Consultant must provide written notice of intention to terminate to
    the Company. Such termination will take effect on the first business day following the Company’s receipt of such notice
    of intention, on which date the Engagement shall be deemed to have been terminated by the Company for convenience within the
    meaning of Section 4(b)(ii).
	 	 	 
	 	(ii)	(60)
    days’ written notice to the Company. Upon receipt of such termination notice, the Company may waive any portion of the
    60-day notice period in writing, in which case the Termination Date will be such date as is designated by the Company in writing,
    and Consultant will be entitled to a fee in lieu of notice, based on the Retainer Fees which would otherwise have been paid
    through the remainder of the 60-day notice period. Such fees in lieu will be provided to Consultant by the Company within
    Thirty (30) days of the Termination Date.

 

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	 	(d)	Termination
    upon Death or Disability of Assigned Person This Agreement will automatically terminate Five (5) business days following
    the Assigned Person’s death or Permanent Disability (as defined below) unless, prior to the expiry of such Five (5)
    day period, the Company Liaison provides written consent to substitute another specified individual as Assigned Person.
	 	 	 
	 	 	For
    these purposes, “Permanent Disability” is defined as physical or mental incapacity resulting in the absence from
    or inability to properly perform the Services hereunder (as determined by the Company) for One Hundred Eighty (180) consecutive
    days. Provision of Services for periods of less than One (1) week will not toll the passing of the time required to establish
    Permanent Disability hereunder.

 

	 	(e)	Effect
    of Termination on Lock-Up Agreement. Upon any termination of the Engagement pursuant to Sections 4(b)(ii) or 4(d), in
    the event that Assigned Person has agreed to a lock-up restriction on the sale of his stock and options, such restriction
    will be immediately released as of the Termination Date, provided always that any restrictions on the sale of Assigned Person’s
    stock and options imposed by any Exchange or by application of other law will remain in effect.
	 	 	 
	 	(f)	Termination
    - General. Upon any termination for any reason whatsoever of the Engagement:

 

	 	(i)	Any
    Retainer Fees and related Taxes accrued owing as of the Termination Date will be paid out at the usual time in accordance
    with Section 3.
	 	 	 
	 	(ii)	Entitlement
    to use of any Company-supplied equipment, vehicle or device will end on the Termination Date.
	 	 	 
	 	(iii)	Consultant
    will comply, and cause Assigned Person to comply, with all return of property obligations under Section 5(c) below and will
    also immediately deliver or cause to be delivered to the Company a complete and up-to-date list of all passwords required
    to access Company systems or materials for purposes of performing the Services, including those set up by Consultant or Assigned
    Person, and those provided by the Company.
	 	 	 
	 	(iv)	Consultant
    will immediately take, and cause Assigned Person to immediately take, all necessary steps to ensure that all electronically-
    stored Confidential Information or Inventions (each as defined in Section 5 below) have been transferred to the Company from
    (and fully deleted from) Consultant’s or Assigned Person’s business/personal/household cell- phone, computer/lap-top
    or similar devices and systems, and that any Company-licensed software has been “wiped” from such business/personal/household
    devices and systems.
	 	 	 
	 	(v)	Subject
    to compliance with Sections 3(b) and 3(c), any Administrative Fees, reimbursable expenses and related Taxes accrued owing
    as of the Termination Date will be paid out at the usual time in accordance with Section 3. For greater clarity, Consultant
    will not be entitled to be reimbursed for any expenses incurred after the Termination Date, unless preapproved by the Company
    Liaison.

 

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	 	(vi)	Where
    applicable and subject to any different entitlements under any applicable shareholders’ agreement, upon request from
    the Company Assigned Person will forthwith resign in writing as an officer or director of the Company or any of its subsidiaries
    or affiliates, effective upon the Termination Date.
	 	 	 
	 	(vii)	Where
    applicable, and subject always to Schedule 1 to this Agreement, any entitlements regarding: (i) any stock options, deferred
    share units or other equity granted to Assigned Peron pursuant to the Company’s Stock Option Plan or Deferred Share
    Unit Plan will be governed by the terms of the relevant award agreements; and (ii) any shares of the Company owned or controlled
    by Assigned Person as of the Termination Date will be governed by the relevant subscription agreement(s).
	 	 	 
	 	(viii)	Except
    as otherwise expressly set out above in this Section 4, Consultant will not be entitled to any other notice or compensation/damages
    in lieu of notice or any other compensation or entitlements of any nature whatsoever as a result of such termination. For
    greater clarity, if at any time Consultant is deemed to be a dependent contractor under the common law, then by accepting
    this Agreement, Consultant is waiving any right to claim common law reasonable notice of termination or compensation in lieu
    of such notice of termination.

 

	5.	Confidentiality
    and Ownership of Company Property

 

Prior
to permitting Assigned Person to commence providing any Services, Consultant will cause Assigned Person to execute and deliver
to the Company a written confidentiality and ownership of Company property agreement substantially similar to and based upon those
provisions set out in this Section 5 and in Section 8 below.

 

	 	(a)	Confidential
    Information

 

	 	(i)	“Confidential
    Information” means information that the Company has or will develop, acquire, create, compile, discover or own, that
    has value in or to the Company’s business which is not generally known and which the Company wishes to maintain as confidential,
    or which belongs to a third party and is subject to a duty on the Company’s part to maintain its confidentiality. Confidential
    Information includes not only information disclosed by the Company to Consultant or Assigned Person, but also information
    learned or developed by Consultant or Assigned Person during the course of performing the Services, as well as also all information
    of which the unauthorized disclosure could be detrimental to the interests of the Company, whether or not such information
    is identified as Confidential Information. Notwithstanding the foregoing, the term “Confidential Information” does
    not include, and neither Consultant nor Assigned Person will be restricted during or after the Engagement from using any information,
    even if otherwise designated as “Confidential Information”: (i) which Consultant or Assigned Person learned of other
    than in the course of the Engagement; (ii) which is obtainable from sources outside of the Company, without breaching any
    contractual or other obligations; or (iii) which otherwise exists in the public domain.

 

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	 	(ii)	Consultant
    agrees that during the Engagement, it will not (and will cause Assigned Person to not) improperly use, disclose, or induce
    the Company to use any proprietary information or trade secrets of any former employer or other person or entity with which
    Consultant or Assigned Person has an obligation to keep in confidence, and further agrees that Consultant will not (and will
    cause Assigned Person to not) bring onto the Company’s premises or transfer onto the Company’s technology systems
    any unpublished document, proprietary information, or trade secrets belonging to any such third party unless disclosure to,
    and use by, the Company has been consented to in writing by such third party.
	 	 	 
	 	(iii)	Consultant
    will not (and will cause Assigned Person to not), either during the Engagement or at any time after termination for any reason
    whatsoever of the Engagement, impart or disclose any Confidential Information to any person, firm or entity other than the
    Company, or use any of such Confidential Information, directly or indirectly, for Consultant’s or Assigned Person’s
    own benefit or for the benefit of any person, firm or entity other than the Company. Consultant hereby acknowledges (and will
    cause Assigned Person to acknowledge) that the items included within the definition of Confidential Information are valuable
    assets of the Company and that the Company has a legitimate business interest in protecting such Confidential Information.

 

	 	(b)	Ownership
    of Inventions

 

	 	(i)	Consultant
    agrees (and will cause Assigned Person to agree) that all right, title, and interest in and to any and all copyrightable material,
    notes, records, drawings, designs, inventions, improvements, developments, discoveries and trade secrets conceived, discovered,
    authored, invented, developed or reduced to practice by Consultant or Assigned Person, solely or in collaboration with others,
    during the course of and the Term of the Engagement (including during non-Services hours), or with the use of Company’s
    equipment, supplies, facilities, or Confidential Information, and any copyrights, patents, trade secrets, mask work rights
    or other intellectual property rights relating to the foregoing (collectively, “Inventions”), are the sole
    property of the Company. Consultant also agrees (and will cause Assigned Person to agree) to promptly make full written disclosure
    to the Company of any Inventions, and to deliver and assign and hereby irrevocably assigns (and will cause Assigned Person
    to assign) fully to the Company all of Consultant’s and Assigned Person’s right, title and interest in and to
    Inventions. Consultant further acknowledges (and will cause Assigned Person to acknowledge) that all original works of authorship
    that are made by Consultant and Assigned Person (solely or jointly with others) within the scope of and during the period
    the Engagement and that are protectable by copyright will be deemed to be “works made for hire,” as that term is
    defined in the United States Copyright Act and will be deemed to be “works made in the course of employment”, as
    that term is defined in the Copyright Act of Canada. Consultant understands and agrees that the decision whether or not to
    commercialize or market any Invention is within the Company’s sole discretion and for the Company’s sole benefit,
    and that no royalty or other consideration will be due to Consultant or Assigned Person as a result of the Company’s
    efforts to commercialize or market any such Invention. Consultant will not (and will cause Assigned Person to not) incorporate
    any invention, improvement, development, concept, discovery, work of authorship or other proprietary information owned by
    any third party into any Invention without the Company’s prior written permission.

 

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	 	(ii)	Any
    assignment to the Company of Inventions includes all rights of attribution, paternity, integrity, modification, disclosure
    and withdrawal, and any other rights throughout the world that may be known as or referred to as “moral rights,”
    “artist’s rights,” “droit moral,” or the like (collectively, “Moral Rights”). To the extent
    that Moral Rights cannot be assigned under applicable law, Consultant hereby irrevocably waives and agrees not to enforce
    any and all Moral Rights, including, without limitation, any limitation on subsequent modification, to the extent permitted
    under applicable law (and Consultant will cause Assigned Person to do likewise).
	 	 	 
	 	(iii)	Consultant
    agrees to keep and maintain (and will cause Assigned Person to keep and maintain) adequate, current, accurate, and authentic
    written records of all Inventions made by Consultant or Assigned Person (solely or jointly with others) during the Term and
    such records are and will be available to and remain the sole property of the Company at all times. Consultant further agrees
    to assist (and will cause Assigned Person to assist) the Company, or its designee, at the Company’s expense, in every
    proper way to secure the Company’s rights in the Inventions in any and all countries, including the disclosure to the
    Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths,
    assignments, and all other instruments that the Company deems proper or necessary in order to apply for, register, obtain,
    maintain, defend, and enforce such rights, and in order to deliver, assign and convey to the Company, its successors, assigns,
    and nominees the sole and exclusive rights, title, and interest in and to all Inventions, and testifying in a suit or other
    proceeding relating to such Inventions.
	 	 	 
	 	(iv)	Consultant
    understands that the provisions of this Agreement requiring assignment of Inventions to the Company do not apply to any Invention
    that Consultant or Assigned Person has developed entirely on its/his own time without using the Company’s equipment,
    supplies, facilities, trade secret information or Confidential Information (an “Other Invention”) except for those
    Other Inventions that either (i) relate to the Company’s business, or actual or anticipated research or development
    of the Company or (ii) result from or relate to Services performed for the Company or to any Confidential Information or Inventions.
    Consultant will advise (and will cause Assigned Person to advise) the Company promptly in writing of any Invention that it/he
    believes constitutes an Other Invention. Consultant agrees that it will not (and it will cause Assigned Person to not) incorporate,
    or permit to be incorporated, any Other Invention owned by it/him or in which it/he has an interest into a Company product,
    process or service without the Company’s prior written consent. Notwithstanding the foregoing sentence, if it/he incorporates
    into a Company product, process or service an Other Invention owned by it/him or in which it/he has an interest, Consultant
    hereby grants (and will cause Assigned Person to grant) to the Company a nonexclusive, royalty-free, fully paid-up, irrevocable,
    perpetual, transferable, sublicensable, worldwide license to reproduce, make derivative works of, distribute, perform, display,
    import, make, have made, modify, use, sell, offer to sell, and exploit in any other way such Other Invention as part of or
    in connection with such product, process or service, and to practice any method related thereto.

 

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	 	(c)	Company
    Property; Return of Company Property All materials relating to the business and affairs of the Company and any of its
    subsidiaries or affiliates including, without limitation, all manuals, documents, reports, equipment, working materials and
    lists of customers prepared by the Company or by Consultant or Assigned Person in the course of the Engagement are for the
    benefit of the Company and are and will remain the property of the Company. Consultant will surrender and deliver (and will
    cause Assigned Person to surrender and deliver) to the Company all such materials, data, information and property, and anything
    containing or constituting Confidential Information or Inventions, upon the termination for any reason whatsoever of the Engagement,
    or at an earlier time on the request of the Company.

 

	6.	Independent
    Contractor Status; Compliance with Laws

 

The
Company engages Consultant to provide services on an independent contractor basis. Consultant enters into this Agreement as, and
intends to continue to be, an independent contractor. Consultant, Assigned Person, and any other person who is or may be employed
or engaged by Consultant: (i) will not be deemed to be an employee, agent or representative of the Company or any of its affiliates,
for any purpose whatsoever; (ii) must not represent itself as an employee, agent or representative of the Company or any of its
affiliates, without the Company Liaison’s prior written consent; (iii) will not be entitled to any employment rights or
benefits from the Company or any of its affiliates, or be subject to supervisory direction by the Company. However, the Parties
acknowledge that for purposes of this Agreement, Assigned Person will be identified both internally and to third parties as the
Company’s Chief Financial Officer.

 

Consultant
will be wholly responsible for complying with, and submitting any requisite filings and payments under applicable federal, provincial,
municipal or local law, including but not limited to income tax, Employment Insurance, Canada Pension Plan, workplace safety,
Employer Health Tax, health insurance and tax legislation; and including but not limited to equivalent or similar applicable legislation
of any government entity, agency, ministry or collecting body having jurisdiction in relation to Consultant, to Assigned Person,
or to any other person who is or may be employed or engaged by Consultant.

 

	7.	Indemnity
    and Limitations on Liability

 

	 	(a)	Indemnity
    by Consultant Subject to the provisions of Sections 7(b) and (c), Consultant agrees to indemnify and save harmless the
    Company from any and all claims, actions, causes of action, debts or demands (including any related liability for interest
    or penalties, and any related costs or expenses, including reasonable legal fees, incurred by the Company) which may arise
    as a result of or in relation to:

 

	 	(i)	breach
    of any of the warranties set out in Section 1;

 

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	 	(ii)	Consultant’s
    failure for any reason whatsoever to comply with Section 6; or,
	 	 	 
	 	(iii)	a
    determination by any government entity, agency, ministry or collecting body having jurisdiction in relation to Consultant
    or in relation to Assigned Person that the relationship between the Company and Consultant, or the relationship between the
    Company and Assigned Person, is not an independent contractor relationship, If, notwithstanding the parties mutual intention
    and agreement, the relationship between the Company and Consultant or Assigned Person is deemed to constitute an employer/employee
    relationship, it is expressly agreed that any Company employer liabilities to Consultant or to Assigned Person, as the case
    may be, in relation to such employment and also in relation to the termination for any reason whatsoever of such employment,
    will equal and be limited to the minimum statutory requirements (if any) as set out in the Ontario Employment Standards
    Act, 2000 as amended from time to time (subject only to any greater termination notice requirement pursuant to Section
    4 above).

 

	 	(b)	Limitations
    on Consultant Liability Except for Consultant’s liability arising from (i)
    its (or Assigned Person’s) gross negligence, willful misconduct or malicious acts; (ii)
    death, bodily injury or tangible property damage caused by it (or by Assigned Person’s); or (iii) its (or Assigned
    Person’s) failure to comply with sections 5 and 6 of this Agreement, the limit of Consultant’s liability in contract,
    tort (including negligence) or by statute or otherwise to the Company concerning performance or non-performance by Consultant
    in any manner related to this Agreement, for any and all claims will not, in the aggregate, exceed twelve months’ Retainer
    Fees.
	 	 	 
	 	(c)	Certain
    Damages Excluded In no event will any Party or Assigned Person be liable to any other Party or Assigned Person for incidental,
    punitive, exemplary, aggravated, indirect, special or consequential damages (including, but not limited to, lost business
    revenue, lost profits, failure to realize expected savings or loss of business opportunity) even if such Party or Assigned
    Person has been advised of the possibility of such damages. These limitations will apply to all causes of action and regardless
    of the form of action (including breach of contract, strict liability, tort including negligence or any other legal or equitable
    theory).

 

	8,	General

 

	 	(a)	Independent
    Legal Advice Consultant acknowledges that it has read and understood the terms and conditions of this Agreement and acknowledges
    and agrees that it has had the opportunity to seek, and was neither prevented nor discouraged by the Company from seeking,
    any independent legal advice which it considered necessary prior to the execution and delivery of this Agreement and that,
    in the event that it did not avail itself of that opportunity prior to signing this Agreement, it did so voluntarily without
    any undue pressure, and agrees that its failure to obtain independent legal advice will not be used by Consultant as a defence
    to the enforcement of its obligations under this Agreement

 

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	 	(b)	Notices
    All notices and other communications to be made hereunder will be in writing and will be deemed to have been given when
    the same are: (i) personally delivered; (ii) mailed, registered or certified mail, first class postage prepaid rectum receipt
    requested; (iii) delivered by a reputable private overnight courier service utilizing a written receipt or other written proof
    of delivery, to the applicable Party at the address set forth above; or (iv) sent by email or other functionally equivalent
    electronic means, delivery receipt requested. Any Party refusing delivery of a notice will be charged with knowledge of its
    contents.
	 	 	 
	 	(c)	Successors
    and Assigns Consultant acknowledges that its services are unique and personal. Consultant may not assign its rights or
    delegate the Services or obligations under this Agreement. This Agreement will be binding upon and inure to the benefit of
    each of the Company and Consultant and their respective successors and assigns by merger, consolidation, transfer of business
    and properties or otherwise.
	 	 	 
	 	(d)	Survival:
    Enforceability Notwithstanding the termination for any reason whatsoever of this Agreement, the provisions of Sections
    4(1), Sections 5, 6, 7 and this Section 8 will survive and remain enforceable. Consultant agrees and acknowledges that the
    existence of any claim or cause of action Consultant or any Assigned Person may have or assert against the Company or its
    subsidiaries or affiliates, whether based on this Agreement or otherwise, will not constitute a defence to the enforcement
    of the obligations under Sections 4(1), 5, 6 or 7.
	 	 	 
	 	(e)	Severability
    In the event any one or more of the provisions of this Agreement will be held to be, in whole or in part, invalid, illegal
    or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect the remainder of such provision
    or other provisions hereof, and this Agreement will be construed as if such invalid, illegal or unenforceable provision (or
    part provision) never had been contained herein.
	 	 	 
	 	(f)	Injunctive
    Relief Consultant recognizes and agrees that any material violation of the provisions of Section 5 of this Agreement would
    cause such damage or injury to the Company as would be irreparable the exact amount of damage would be impossible to ascertain;
    therefore, Consultant agrees that notwithstanding anything to the contrary contained in this Agreement, the Company will be
    entitled to seek injunctive relief from a court of competent jurisdiction in the jurisdiction and venue in which Consultant
    or Assigned Person resides to seek an injunction against such violations or threatened violations. Such right to seek an injunction
    will be cumulative and in addition to, and not in limitation of, any other rights and remedies by the Company may have in
    equity or at law.
	 	 	 
	 	(g)	Governing
    Law, Forum Selection This Agreement will be construed in accordance with the laws of the Province of Ontario, exclusive
    of any choice of law principles. In the event any dispute arises between the Parties relative to this Agreement, then the
    dispute will be litigated in any court of competent jurisdiction in the Province of Ontario, and both Parties agree to personal
    jurisdiction in such courts.
	 	 	 
	 	(h)	Currency
    All currency amounts referenced in this Agreement are in Canadian dollars (gross) and all payments will be made in Canadian
    dollars.

 

    	Page 11 of 13	 	 

     

    

 

	 	(i)	Entire
    Agreement: Amendments This Agreement (inclusive of the attached Schedules hereby incorporated by reference), contains
    the entire understanding and agreement of the Parties hereto with respect to the matters contained herein, and may not be
    amended or supplemented at any time unless by writing, executed by each of the said Parties.
	 	 	 
	 	(j)	Counterparts
    This Agreement may be executed and delivered by the Parties in one or more counterparts, each of which when so executed
    and delivered will be an original, and those counterparts will together constitute one and the same instrument.
	 	 	 
	 	(k)	Execution
    Execution and delivery of a facsimile or other functionally equivalent means of electronic execution and transmission
    of this Agreement will constitute, for purposes of this Agreement, delivery of an executed original and will be binding upon
    the Party whose signature appears on the transmitted copy. Any Party so executing this Agreement undertakes to originally-execute
    and deliver to the other Parties a copy of this Agreement as soon as possible after such electronic execution and transmission.

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement or caused their duly authorized officers to execute this Agreement
on date set forth below.

 

	 	 	SCYTHIAN BIOSCIENCES CORP.
	 	 	 
	Date:	 	 	 
	 	 	Jonathan
Gilbert, Chief Executive Officer
	 	 	 
	 	 	ALOE
Finance Inc.
	 	 	 
	 	 	 
	Date:	 		Per:	                

 

    	Page 12 of 13	 	 

     

    

 

SCHEDULE
1

EQUITY PARTICIPATION

 

Equity
Based Compensation

 

A
The Company agrees to grant to Assigned Person deterred share units (the “DSUs”) in the amount of 12,500
common shares, which have an initial value of $8.00 per DSU, in the capital of the Company under the Company’s
Deferred Share Unit Plan. Consultant represents that it and Assigned Person have each received and reviewed a copy of the
Deferred Share Unit Plan. subject always to the terms of the Deferred Share Unit Plan, and subject to the provisos set out in
Section B. below.

 

B.
The grant set out in Sections A and any further
equity grants made by the Company to Assigned Person under the Stock Option Plan or the Deferred Share Unit Plan will be subject
to the following provisos, to be incorporated into the relevant award agreements:

 

	 	(a)	If
    a Change of Control occurs prior to the Termination Date, all unvested options, DSUs or other equity granted to Assigned Person
    will immediately vest and become exercisable.
	 	 	 
	 	(b)	In
    the event of any termination of the Engagement pursuant to Section 4(b)(ii), all unvested options, DSUs or other equity granted
    to Assigned Person immediately vest and become exercisable on the Termination Date, and will remain exercisable for a period
    ending on the earlier of (i) the first anniversary of the Termination Date, or (ii) the natural expiry date of such option.
	 	 	 
	 	(c)	In
    the event of any termination of the Engagement pursuant to Section 4(d), all unvested options, DSUs or other equity granted
    to Assigned Person will immediately vest and become exercisable by Assigned Person (or, in the event of his death, his estate
    executor or other duly appointed legal representative), as applicable.

 

Assigned
Person will be required to read and sign an award agreement as a precondition to receiving the Options, DSUs or any other equity
granted under the Stock Option Plan or Deterred Share Unit Plan. Future grants are not guaranteed and all grants are subject to
approval by the Board of Directors.

 

    	Page 13 of 13DEFERRED
SHARE UNIT PLAN

 

Article
One

DEFINITIONS
AND INTERPRETATION

 

	1.1	Definitions:
    For the purposes of this Plan, unless such word or term is otherwise defined herein or the context in which such word or term
    is used herein otherwise requires, the following words and terms with the initial letter or letters thereof capitalized shall
    have the following meanings:
	 	 
	 	“Affiliate”
    means any entity that is an affiliate of the Company as defined in National Instrument 45-106 – Prospectus Exemptions,
    as may be amended from time to time;
	 	 
	 	“Associate”
    where used to indicate a relationship with any person or company, is as defined in the Securities Act (Ontario), as
    may be amended from time to time;
	 	 
	 	“Blackout
    Period” means any period imposed by the Company pursuant to its disclosure, confidentiality and trading policy or
    otherwise, during which its officers, directors, employees and Insiders may be restricted from trading in securities of the
    Company;
	 	 
	 	“Board”
    means the board of directors of the Company;
	 	 
	 	“Change
    of Control” means the occurrence
    of any one or more of the following events:

 

	 	(a)	a
    consolidation, merger, amalgamation, arrangement or other reorganization or acquisition involving the Company or any of its
    Affiliates and another company or other entity, as a result of which the holders of Common Shares prior to the completion
    of the transaction hold less than 50% of the outstanding shares of the successor company after completion of the transaction;
	 	 	 
	 	(b)	the
    sale, lease, exchange or other disposition, in a single transaction or a series of related transactions, of assets, rights
    or properties of the Company and/or any of its Affiliates which have an aggregate book value greater than 50% of the book
    value of the assets, rights and properties of the Company and its Affiliates on a consolidated basis to any other person or
    entity, other than a disposition to a wholly-owned Affiliate in the course of a reorganization of the assets of the Company
    and its Affiliates;
	 	 	 
	 	(c)	a
    resolution is adopted to wind-up, dissolve or liquidate the Company;
	 	 	 
	 	(d)	any
    person, entity or group of persons or entities acting jointly or in concert (an “Acquirer”) acquires or
    acquires control (including, without limitation, the right to vote or direct the voting) of Voting Securities which, when
    added to the Voting Securities owned of record or beneficially by the Acquirer or which the Acquirer has the right to vote
    or in respect of which the Acquirer has the right to direct the voting, would entitle the Acquirer and/or Associates and/or
    Affiliates of the Acquirer to cast or to direct the casting of 50% or more of the votes attached to all of the Company’s
    outstanding Voting Securities which may be cast to elect directors of the Company or the successor Company (regardless of
    whether a meeting has been called to elect directors);
	 	 	 
	 	(e)	as
    a result of or in connection with: (A) a contested election of directors, or (B) a consolidation, merger, amalgamation, arrangement
    or other reorganization or acquisitions involving the Company or any of its Affiliates and another company or other entity,
    the nominees named in the most recent Management Information Circular of the Company for election to the Board shall not constitute
    a majority of the Board; or

 

    	 

    	-2- 

    

 

	 	(f)	the
    Board adopts a resolution to the effect that a Change of Control as defined herein has occurred or is imminent.
	 	 	 
	 	 	For
    the purposes of the foregoing, “Voting Securities” means Common Shares and any other shares entitled to
    vote for the election of directors and shall include any security, whether or not issued by the Company, which are not shares
    entitled to vote for the election of directors but are convertible into or exchangeable for shares which are entitled to vote
    for the election of directors including any options or rights to purchase such shares or securities;

 

“Committee”
means the Board or, if the Board so determines in accordance with Section 2.3 of the Plan, a committee of the Board authorized
to administer the Plan;

 

“Code”
means the U.S. Internal Revenue Code of 1986, as amended;

 

“Common
Shares” means the common shares of the Company;

 

“Company”
means Scythian Biosciences Corp., a company existing under the Business Corporations Act (Ontario), and includes any successor,
Affiliate or Associate thereof;

 

“Deferred
Share Unit” means the agreement by the Company to pay, and the right of the Participant to receive, a DSU Payment for
each Deferred Share Unit held, evidenced by way of book-keeping entry in the books of the Company and administered pursuant to
this Plan;

 

“Director”
means a member of the
Board from time to time;

 

“DSU
Grant Date” means the date of grant of Deferred Share Units as recommended by the Committee and confirmed by the Board
from time to time;

 

“DSU
Grant Letter” has the meaning ascribed thereto in Section 3.3;

 

“DSU
Payment” means, subject to any adjustment in accordance with Section 5.6, the issuance to a Participant of one previously
unissued Common Share or cash equivalent for each whole vested Deferred Share Unit credited to such Participant as deterimed by
the Board/Committee in its sole discretion;

 

“Eligible
Director” means a person who is a Director or a member of the board of directors of any Affiliate of the Company and
who, at the relevant time, is not otherwise an employee or a consultant of the Company or of any Affiliate, and such person shall
continue to be an Eligible Director for so long as such person continues to be a member of such board(s) of directors and is not
otherwise an employee or a consultant of the Company or of any Affiliate;

 

“Eligible
Employees” means the full-time employees and officers of the Company or of any Affiliate or Associate;

 

“Insider”
means: (i) an insider as defined in the Securities Act (Ontario), as may be amended from time to time, other than a person
who is an Insider solely by virtue of being a director or senior officer of an Affiliate; and (ii) an Associate of any person
who is an insider by virtue of (i);

 

    	 

    	-3- 

    

 

“Investor
Relations Activities” means any activities, by or on behalf of the Company or a shareholder of the Company, that promote
or could reasonably be expected to promote the sale of the securities of the Company;

 

“Market
Value” means the last closing price of the Common Shares on the TSXV immediately prior to the date as at which Market
Value is determined. If the Common Shares are not trading on the TSXV, then the Market Value shall be determined based on the
last closing price of the Common Shares on such stock exchange or over-the-counter market on which the Common Shares are listed
and posted for trading as may be selected for such purpose by the Committee on the date as of which Market Value is determined.
In the event that the Common Shares are not listed and posted for trading on any stock exchange or over-the-counter market, the
Market Value shall be the fair market value of such Common Shares as determined by the Committee in its sole discretion;

 

“Participant”
means each Eligible Director
or Eligible Employee to whom Deferred Share Units are granted hereunder;

 

“Plan”
means this Deferred Share Unit Plan, as the same may be amended from time to time;

 

“Retirement
Date” means the date on which a Participant ceases to be an Eligible Employee after attaining a stipulated age in accordance
with the normal retirement policy of the Company or upon mutual agreement of the Company and the Participant;

 

“Section
409A” means Section 409A of the Code and the Treasury Regulations promulgated thereunder as in effect from time to time;

 

“Termination
Date” means (a) the actual date of termination of (i) the office of the Participant, (ii) the employment of the Participant
or (iii) the directorship of the Participant, as applicable, and does not include any period during which the Participant is in
receipt of or is eligible to receive any statutory, contractual or common law notice or compensation in lieu thereof or severance
payments following the actual date of termination or resignation, (b) the date of the death of the Participant, (c) the date determined
by the Committee and which date shall be within 60 days following the date on which the Participant is determined to be totally
disabled and terminated from employment or removed from the Board or (d) the Retirement Date. Notwithstanding the above, with
respect to U.S. Participants, “Termination Date” shall mean the earlier of (i) “separation from service”
within the meaning of Section 409A of the Code or (ii) the date of death of the Participant;

 

“TSXV”
means TSX Venture Exchange; and

 

“U.S.
Participant” means a Participant who, at any time during the period from the date Deferred Share Units are granted to
the Participant to the date in which payment is made with respect to such Deferred Share Units, is subject to income taxation
in the United States on the income received for his or her services to the Company and who is not otherwise exempt from U.S. income
taxation under the relevent provisions of the Code or the Canada-U.S. Income Tax Convention, as amended from time to time.

 

“year”
means a calendar year unless otherwise
specified.

 

    	 

    	-4- 

    

 

	1.2	Headings:
    The headings of all articles, sections, and paragraphs in the Plan are inserted for convenience of reference only and shall
    not affect the construction or interpretation of the Plan.
	 	 
	1.3	Context,
    Construction: Whenever the singular or masculine are used in the Plan, the same shall be construed as being the plural
    or feminine or neuter or vice versa where the context so requires.
	 	 
	1.4	References
    to this Deferred Share Unit Plan: The words “hereto”, “herein”, “hereby”, “hereunder”,
    “hereof” and similar expressions mean or refer to this Plan as a whole and not to any particular article, section,
    paragraph or other part hereof.
	 	 
	1.5	Canadian
    Funds: Unless otherwise specifically provided, all references to dollar amounts in the Plan are references to Canadian
    dollars.

 

Article
Two

PURPOSE
AND ADMINISTRATION OF THE DEFERRED SHARE UNIT PLAN

 

	2.1	Purpose
    of the Deferred Share Unit Plan: The purpose of this Plan is to strengthen the alignment of interests between the Eligible
    Directors, Eligible Employees and the shareholders of the Company by linking a portion of annual compensation, as determined
    by the Committee from time to time, to the future value of the Common Shares. In addition, the Plan has been adopted for the
    purpose of advancing the interests of the Company through the motivation, attraction and retention of directors and employees
    of the Company and its Affiliates, it being generally recognized that the Plan aids in attracting, retaining and encouraging
    director and employee commitment and performance due to the opportunity offered to them to receive compensation in line with
    the value of the Common Shares.
	 	 
	2.2	Administration
    of the Deferred Share Unit Plan: Subject to regulatory requirements, the Plan shall be administered by the Committee and
    the Committee shall have full discretionary authority to administer the Plan including the authority to interpret and construe
    any provision of the Plan and to adopt, amend and rescind such rules and regulations for administering the Plan as the Committee
    may deem necessary in order to comply with the requirements of the Plan. All actions taken and all interpretations and determinations
    made by the Committee in good faith shall be final and conclusive and shall be binding on the Participants and the Company.
    No member of the Committee shall be personally liable for any action taken or determination or interpretation made in good
    faith in connection with the Plan and all members of the Committee shall, in addition to their rights as Directors, be fully
    protected, indemnified and held harmless by the Company with respect to any such action taken or determination or interpretation
    made in good faith. The appropriate officers of the Company are hereby authorized and empowered to do all things and execute
    and deliver all instruments, undertakings and applications and writings as they, in their absolute discretion, consider necessary
    for the implementation of the Plan and of the rules and regulations established for administering the Plan. All costs incurred
    in connection with the Plan shall be for the account of the Company.
	 	 
	2.3	Delegation
    to Committee: All of the powers exercisable hereunder by the Directors may, to the extent permitted by applicable law
    and as determined by resolution of the Directors, be exercised by a committee of the Board comprised of not less than three
    (3) Directors.
	 	 
	2.4	Record
    Keeping: The Company shall maintain a register in which shall be recorded:

 

	 	(a)	the
    name and address of each Participant in the Plan;
	 	 	 
	 	(b)	the
    number of Deferred Share Units granted to each Participant under the Plan;
	 	 	 
	 	(c)	the
    number of Deferred Share Units credited to a Participant pursuant to Section 3.4 hereof;
	 	 	 
	 	(d)	the
    date on which Deferred Share Units were granted or credited to a Participant; and
	 	 	 
	 	(e)	the
    date of DSU Payment.

 

    	 

    	-5- 

    

 

	2.5	Determination
    of Participants and Participation: The Committee shall from time to time determine the persons who may participate in
    the Plan. The Committee shall from time to time determine the Participants to whom Deferred Share Units shall be granted and
    the provisions and restrictions with respect to such grant, all such determinations to be made in accordance with the terms
    and conditions of the Plan, and the Committee may take into consideration the present and potential contributions of and the
    services rendered by the particular Participant to the success of the Company and any other factors which the Committee deems
    appropriate and relevant. In the case of Deferred Share Units granted to Eligible Employees, the Committee will ensure and
    confirm that the Participant is a bona fide Eligible Employee.

 

Article
Three

DEFERRED
SHARE UNIT PLAN

 

	3.1	Deferred
    Share Unit Plan: A Deferred Share Unit Plan is established for Eligible Directors and Eligible Employees.
	 	 
	3.2	Grant
    of Deferred Share Units: Subject to the terms of this Plan and the compensation policies of the Company, a number of Deferred
    Share Units shall be granted to each Eligible Director or Eligible Employee on each DSU Grant Date, which number shall be
    calculated by reference to (i) the dollar amount of the Eligible Director’s or Eligible Employee’s remuneration
    as determined by the Committee for the upcoming year or portion of the year following the applicable DSU Grant Date that will
    be satisfied by such Deferred Share Units, (which determination shall be made in a manner compliant with Section 409A for
    U.S. Participants), and (iii) the Market Value of the Common Shares on the relevant DSU Grant Date. The Committee may, subject
    to applicable securities laws, also make additional determinations from time to time with respect to the number of Deferred
    Share Units to be granted, and the DSU Grant Date of Deferred Share Units to new Eligible Directors appointed from time to
    time or new Eligible Employees hired from time to time. On each DSU Grant Date, the number of Deferred Share Units so determined
    by the Committee shall be granted by the Company to such Eligible Director or Eligible Employee without any further action
    being required by the Committee or such Eligible Director.
	 	 
	 	Notwithstanding
    any of the foregoing, the Committee shall have the authority, subject to applicable securities laws and TSXV policies, to
    make any special grant of Deferred Share Units to Eligible Directors or Eligible Employees, in such numbers, and at any time
    as the Committee will deem appropriate.
	 	 
	3.3	Deferred
    Share Unit Letter: Each grant of Deferred Share Units under the Plan shall be evidenced by a letter of the Company, in
    the form attached as Appendix A hereto, signed in acknowledgement by the Participant (a “DSU Grant Letter”).
    Such Deferred Share Units shall be subject to all applicable terms and conditions of the Plan and may be subject to any other
    terms and conditions which are not inconsistent with the Plan and which the Committee deems appropriate for inclusion in a
    DSU Grant Letter. The provisions of the various DSU Grant Letters entered into under the Plan need not be identical, and may
    vary from Participant to Participant.
	 	 
	3.4	Dividends:
    In the event that a dividend (other than stock dividend) is declared and paid by the Company on Common Shares, a Participant
    will be credited with additional Deferred Share Units. The number of such additional Deferred Share Units will be calculated
    by dividing (i) the total amount of the dividends that would have been paid to the Participant if the Deferred Share Units
    outstanding in the Participant’s account on the dividend record date had been outstanding Common Shares (and the Participant
    held no other Common Shares), by (ii) the Market Value of a Common Share on the date on which such dividends were paid.

 

    	 

    	-6- 

    

 

	3.5	Payment
    Obligations with Respect to Deferred Share Units:

 

	 	(a)	Upon
    the Termination Date for each Participant, and subject to Section 4.1 the Company shall (i) issue to such Participant one
    previously unissued Common Share for each vested outstanding Deferred Share Unit held by such Participant on the Termination
    Date, or (ii) subject to the discretion of the Committee, an amount in cash equivalent to the number of outstanding Deferred
    Share Units held by such Participant multiplied by the Market Value on the Termination Date, for such Participant. In the
    event the Company decides to satisfy its payment obligation with respect to Deferred Share Units held by such Participant
    on the Termination Date in cash, subject to the provisions of the Plan, the Company shall make, within sixty (60) Business
    Days after the Termination Date a cash payment, less applicable statutory source deductions, to the Participant.
	 	 	 
	 	(b)	Fractional
    Deferred Share Units shall be cancelled.
	 	 	 
	 	(c)	Where
    Deferred Share Units have been granted to a Participant with reference to his or her remuneration for a year, in the event
    such Participant resigns or is otherwise no longer an Eligible Director or an Eligible Employee, as the case may be, during
    such year, such Deferred Share Units will only partially vest and the Participant will only be entitled to a pro-rated DSU
    Payment in respect of such Deferred Share Units based on the number of days such year that the Participant was an Eligible
    Director or Eligible Employee in such year.

 

	3.6	Maximum
    Number of Shares:

 

	 	(a)	Subject
    to adjustment as provided in Section 5.5 hereof, the maximum aggregate number of Common Shares that may be issued under the
    Plan shall not exceed 200,000, provided further that the aggregate number of Common Shares issuable under this plan, combined
    with any other security-based compensation plan, including the Company’s incentive stock option plan, shall not exceed
    10% of the then issued and outstanding Common Shares at any DSU Grant Date. Common Shares to be issued under the Plan will
    be authorized but previously unissued Common Shares from treasury.
	 	 	 
	 	(b)	For
    purposes of this Section 3.6, the number of Common Shares covered by a Deferred Share Unit grant shall be counted on the DSU
    Grant Date against the aggregate number of Common Shares available under the Plan, and the number of Common Shares that shall
    be counted against the Plan shall be equal to the number of Common Shares the Participant would be entitled to receive under
    Section 3.5 hereof, if the corresponding DSU Payment was made on the DSU Grant Date.
	 	 	 
	 	(c)	The
    aggregate number of Common Shares issuable to all Participants retained to provide Investor Relations Activities pursuant
    to this Plan (when combined with any other security-based compensation plans, including the Company’s incentive stock
    option plan) shall not exceed 2% of the issued and outstanding Common Shares in any 12 month period, calculated at the DSU
    Grant Date.

 

    	 

    	-7- 

    

 

	 	(d)	Unless
    the Company has received disinterested shareholder approval to do so, (i) the aggregate number of Common Shares issuable to
    Insiders under this Plan (when combined with any other security-based compensation plans, including the Company’s incentive
    stock option plan) shall not exceed 10% of the issued and outstanding Common Shares at any DSU Grant Date; (ii) the aggregate
    number of Common Shares issuable to Insiders in any 12-month period under this Plan (when combined with any other security-based
    compensation plans, including the Company’s incentive stock option plan) shall not exceed 10% of the issued and outstanding
    Common Shares at any DSU Grant Date; and (iii) the aggregate number of Common Shares issuable to any one Participant pursuant
    to this Plan (when combined with any other security-based compensation plans, including the Company’s incentive stock
    option plan) in a 12 month period shall not exceed 5% of the issued and outstanding Common Shares, calculated on any DSU Grant
    Date.
	 	 	 
	 	(e)	For
    purposes of this Section 3.6, the number of Common Shares then outstanding shall mean the number of Common Shares outstanding
    on a non-diluted basis immediately prior to the proposed grant of the applicable Deferred Share Units.

 

	3.7	Change
    of Control: If there is a Change of Control that results in the termination of a Participant’s employment without
    cause, all Deferred Share Units credited to such Participant shall immediately vest on the date of such Change of Control
    notwithstanding any stated vesting period and shall be settled following such termination in accordance with Section 3.5.
    In any event, upon a Change of Control, Participants shall not be treated any more favourably than shareholders of the Company
    with respect to the consideration that the Participants would be entitled to receive for their Common Shares.
	 	 
	3.8	Necessary
    Approvals: The Plan shall be subject to the approval of the shareholders of the Company to be given by a resolution passed
    at a meeting of the shareholders of the Company and acceptance by the TSXV or any regulatory authority or stock exchange having
    jurisdiction over the Company.
	 	 
	3.9	Blackout
    Period: If the date on which the Company shall issue Common Shares to the Participant in accordance with Section 3.5 occurs
    during a Blackout Period applicable to the Participant, the Company shall issue or deliver such Common Shares to the Participant
    on or as soon as practicable after the 10th trading day following the end of the Blackout Period.
	 	 
	3.10	Section
    409A: It is intended that the provisions of the Plan comply with Section 409A with respect to U.S. Participants, and all
    provisions of the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes
    or penalties under Section 409A. Notwithstanding anything in the Plan to the contrary, the following will apply with respect
    to the rights and benefits of U.S. Participants under the Plan:

 

	 	(a)	Except
    as permitted under Section 409A, any deferred compensation (within the meaning of Section 409A) payable to or for the benefit
    of a U.S. Participant may not be reduced by, or offset against, any amount owing by the U.S. Participant to the Company or
    any of its Affiliates.
	 	 	 
	 	(b)	If
    a U.S. Participant becomes entitled to receive payment in respect of any Deferred Share Units as a result of his or her “separation
    from service” (within the meaning of Section 409A) and the U.S. Participant is a “specified employee” (within
    the meaning of Section 409A) at the time of his or her separation from service, and the Committee makes a good faith determination
    that (i) all or a portion of the Deferred Share Units constitute “deferred compensation” (within the meaning of
    Section 409A) and (ii) any such deferred compensation that would otherwise be payable during the six-month period following
    such separation from service is required to be delayed pursuant to the six-month delay rule set forth in Section 409A in order
    to avoid taxes or penalties under Section 409A, then payment of such “deferred compensation” shall not be made
    to the U.S. Participant before the date which is six months after the date of his or her separation from service (and shall
    be paid in a single lump sum on the first day of the seventh month following the date of such separation from service) or,
    if earlier, the U.S. Participant’s date of death.

 

    	 

    	-8- 

    

 

	 	(c)	A
    U.S. Participant’s status as a specified employee shall be determined by the Company as required by Section 409A on
    a basis consistent with the regulations under Section 409A and such basis for determination will be consistently applied to
    all plans, programs, contracts, agreements, etc. maintained by the Company that are subject to Section 409A.
	 	 	 
	 	(d)	Each
    U.S. Participant, any beneficiary or the U.S. Participant’s estate, as the case may be, is solely responsible and liable
    for the satisfaction of all taxes and penalties that may be imposed on or for the account of such U.S. Participant in connection
    with the Plan (including any taxes and penalties under Section 409A), and neither the Company nor any Affiliate shall have
    any obligation to indemnify or otherwise hold such U.S. Participant or beneficiary or the U.S. Participant’s estate
    harmless from any or all of such taxes or penalties.
	 	 	 
	 	(e)	In
    the event that the Committee determines that any amounts payable hereunder will be taxable to a U.S. Participant prior to
    payment to such U.S. Participant of such amount, the Company may (i) adopt such amendments to the Plan and Deferred Share
    Units and appropriate policies and procedures, including amendments and policies with retroactive effect, that the Committee
    determines necessary or appropriate to preserve the intended tax treatment of the benefits provided by the Plan and Deferred
    Share Units hereunder and/or (ii) take such other actions as the Committee determines necessary or appropriate to avoid or
    limit the imposition of an additional tax under Section 409A.

 

Article
Four

WITHHOLDING
TAXES

 

	4.1	Withholding
    Taxes: The Company or any of its Affiliates may take such steps as are considered necessary or appropriate for the withholding
    of any taxes which the Company or any of its Affiliates are required to withhold by any law or regulation of any governmental
    authority whatsoever, and, without limiting the generality of the foregoing, may effect such withholding through (i) the withholding
    of all or any portion of any payment due to the applicable Participant; (ii) the withholding and sale, for and on behalf of
    the applicable Participant, of the minimum number of Common Shares to be issued under the Plan sufficient to satisfy such
    withholding obligation of the Company’s or the Affiliate; (iii) withholding of all or any portion of any issuance of
    Common Shares to be made to the Participant, until such time as the Participant has paid the Company or its Affiliates any
    amount which the Company and its Affiliates are required to withhold with respect to such taxes.

 

    	 

    	-9- 

    

 

Article
Five

GENERAL

 

	5.1	Effective
    Time of Deferred Share Unit Plan: The Plan shall remain in effect until it is terminated by the Committee.
	 	 
	5.2	Suspension
    of the Deferred Share Unit Plan: Subject to Section 5.2(2), the Committee may, at any time, and from time to time, and
    without shareholder approval, amend any provision of the Plan, subject to any regulatory or stock exchange requirement at
    the time of such amendment, including without limitation:

 

	 	(1)	amendments
    to the termination provisions of Section 5.3; amendments necessary or advisable because of any change in applicable securities
    laws; amendments to Section 2.2 relating to the administration of the Plan; any other amendment, fundamental or otherwise,
    not requiring shareholder approval under applicable laws or rules of the TSXV, including amendments of a “clerical”
    or “housekeeping” nature;
	 	 	 
	 	(2)	any
    amendment shall not alter the terms or conditions of any Deferred Share Unit or impair any right of any holder of Deferred
    Share Units pursuant to any Deferred Share Unit grant prior to such amendment; and
	 	 	 
	 	(3)	no
    amendment shall be made which prevents the Plan from continuously meeting the requirements of paragraph 6801(d) of the Income
    Tax Regulations (Canada) or any successor provision thereto.

 

	5.3	Plan
    Termination.

 

	 	The
    Committee may decide to discontinue granting awards under the Plan at any time in which case no further Deferred Share Units
    shall be awarded or credited under Section 3.2 of the Plan. Any Deferred Share Units which remain outstanding in a Participant’s
    account at that time shall continue to be dealt with according to the terms of the Plan. For greater certainty, dividend equivalents
    shall continue to be awarded, as appropriate, in respect of such outstanding Deferred Share Units pursuant to Section 3.4
    of the Plan. The Plan shall terminate when all payments owing pursuant to Section 3.5 of the Plan have been made and all Deferred
    Share Units have been cancelled in all Participants’ accounts.
	 	 
	5.4	General
    Restrictions and Assignment: Except as required by law, the rights of a Participant under the Plan are not capable of
    being anticipated, assigned, transferred, alienated, sold, encumbered, pledged, mortgaged or charged and are not capable of
    being subject to attachment or legal process for the payment of any debts or obligations of the Participant.
	 	 
	5.5	Rights
    as a Shareholder, Employee or Director: Under no circumstances shall Deferred Share Units be considered Common Shares
    nor shall they entitle any Participant to exercise voting rights or any other rights attaching to the ownership of Common
    Shares nor shall any Participant be considered the owner of Common Shares by virtue of the award of Deferred Share Units.
    Nothing in the Plan shall confer on any Eligible Director the right to continue as a Director of the Company or as a director
    of any Affiliate of the Company or interfere with the right to remove such director, nor shall the Plan confer on any Eligible
    Employee the right to continuous employment with the Company or any Affiliate of the Company.
	 	 
	5.6	Adjustment
    in Number of Shares underlying the Deferred Share Units: In the event there is any change in the Common Shares, whether
    by reason of a stock dividend, stock split, consolidation, subdivision, reclassification or otherwise, an appropriate adjustment
    shall be made by the Committee in the number of Common Shares subject to or underlying any Deferred Share Units. If the foregoing
    adjustment shall result in a fractional Common Share, the fraction shall be disregarded. All such adjustments shall be conclusive,
    final and binding for all purposes of the Plan.

 

    	 

    	-10- 

    

 

	5.7	No
    Representation or Warranty: The Company makes no representation or warranty as to the future market value of any Common
    Shares issued in accordance with the provisions of the Plan and no amount or benefit will be granted for the purposes of reducting
    the impact, in whole or in part, of any reduction in the fair market value of the Common Shares.
	 	 
	5.8	Compliance
    with Applicable Law: If any provision of the Plan or any Deferred Share Unit contravenes any law or any order, policy,
    by-law or regulation of any regulatory body having jurisdiction, then such provision shall be deemed to be amended to the
    extent necessary to bring such provision into compliance therewith.
	 	 
	5.9	Plan
    Funding: The Plan will be unfunded
	 	 
	5.10	Participant
    Payments: Notwithstanding anything to the contrary in this Plan, all payments to be made to a Participant in cash pursuant
    to Section 3.5 shall be made following the Participant’s Termination Date and before December 31st of the
    calendar year following the year in which the Participant’s Termination Date occurs.
	 	 
	5.11	Interpretation:
    This Plan shall be governed by and construed in accordance with the laws in force in the Province of Ontario and the federal
    laws of Canada applicable therein.

 

    	 

    	 

    

 

Appendix
A

DEFERRED
SHARE UNIT GRANT LETTER

 

This
Deferred Share Unit grant letter is entered into between Scythian Biosciences Corp. (the “Company”) and the
Participant named below pursuant to the Company’s deferred share unit plan (the “Plan”), a copy of which
is incorporated by reference herein, and confirms the following Deferred Share Unit grant on the terms set out below and as further
set out in the Plan:

 

Participant:

Address of Participant:

Deferred Share Unit Grant:

Grant Date:

Vesting:

Conditions, Restrictions, Performance, Objectives and/or Limitations, if any:

 

By
receiving and accepting the Deferred Share Unit award, the Participant:

 

	1.	Confirms
    that he or she has read and understands the Plan and agrees to the terms and conditions of the Plan and this Deferred Share
    Unit grant letter; and
	 	 
	2.	Consents
    to the collection, use and disclosure of personal information of the Participant by the TSXV and all other regulatory authorities
    in accordance with their requirements, from time to time.

 

All
capitalized terms used herein but not otherwise defined shall have the meaning given to them in the Plan.

 

Effective
as of the _________th day of ___________ 20___.

 

	 	Scythian biosciences corp.
	 	 	 
	 	By:	 
	 	 	Authorized
    Signing Officer

 

If
Participant is an individual:

 

	 	 	 
	Witness	 	Name
    of Individual Participant:

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