Document:

EX-10.5

 Exhibit 10.5 

INDEMNITY AGREEMENT 

THIS AGREEMENT is made                  ,
202     
 BETWEEN: 

NEPTUNE WELLNESS SOLUTIONS INC., a corporation governed by the laws of the Province of Québec (the
“Corporation”) 
 - and - 

                    
(“Indemnitee”) 
 RECITALS: 
  

	A.	 Indemnitee is or has been a duly elected or appointed director or officer of the Corporation or, at the
request of the Corporation, a duly elected or appointed director or officer of an Other Entity (as defined below); 

  

	B.	 The Corporation considers it desirable and in the best interests of the Corporation to enter into this
Agreement to set out the circumstances and manner in which the Indemnified Party (as defined below) may be indemnified in respect of certain liabilities or expenses which the Indemnified Party may incur as a result of Indemnitee acting as a director
or officer of the Corporation or Other Entity; 

  

	C.	 Indemnitee has agreed to serve or to continue to serve as a director or officer of the Corporation or Other
Entity subject to the Corporation providing Indemnitee with directors’ and officers’ liability insurance and an indemnity against certain liabilities and, in order to induce Indemnitee to serve and to continue to so serve, the Corporation
has agreed to provide the indemnity in this Agreement; and 

  

	D.	 The by-laws of the Corporation contemplate that the Indemnified
Party may be indemnified in certain circumstances. 

 THEREFORE, the Parties agree as follows: 

ARTICLE 1 
 DEFINITIONS
AND PRINCIPLES OF INTERPRETATION 
  

	1.1	 Definitions 

Whenever used in this Agreement, the following words and terms shall have the meanings set out below: 

 

	 	(a)	 “Act” means the Business Corporations Act (Québec), as the same exists on the
date of this Agreement or may hereafter be amended; 

	 	(b)	 “Agreement” means this agreement, including all schedules, and all amendments or
restatements as permitted, and references to “Article” or “Section” mean the specified Article or Section of this Agreement; 

  

	 	(c)	 “Business Day” means any day, other than a Saturday or Sunday, on which Schedule I Canadian
chartered banks in Montréal (Québec) are open for commercial banking business during normal banking hours; 

  

	 	(d)	 “Claim” includes any threatened, pending or completed civil, criminal, administrative,
arbitrative or investigative or other action, suit or proceeding of any nature or kind in which the Indemnified Party is involved because of the Indemnified Party’s association with the Corporation or Other Entity, whether instituted by the
Corporation, Other Entity or any other party (including, without limitation, any governmental entity), or any inquiry or investigation, whether instituted by the Corporation, Other Entity or any other party (including, without limitation, any
governmental entity), that the Indemnified Party in good faith believes might lead to the institution of any such action, suit or proceeding; 

  

	 	(e)	 “Entity” means a corporation, limited liability company, partnership, joint venture, trust
or other entity or enterprise, whether or not for profit; 

  

	 	(f)	 “Expenses” means all costs, charges, expenses, fees and obligations (including, without
limitation, any legal, professional or advisory fees or disbursements) paid or incurred in connection with investigating, defending or participating (as a party, a witness or otherwise) in (including on appeal) or preparing to defend or participate
in any Claim; 

  

	 	(g)	 “Indemnified Party” means Indemnitee and the affiliates, heirs, attorneys, guardians,
estate trustees, executors, trustees, administrators, successors, hires, distributes, legatees, permitted assigns and other successors of Indemnitee and successors (including any successor by reason of amalgamation) and any Entities that Indemnitee
owns an interest in, including but not limited to, the Entities specified on Schedule A attached hereto; 

  

	 	(h)	 “Losses” includes all Expenses, costs, charges, losses, damages, liabilities, obligations,
and amounts paid (including, without limitation, all interests, assessments and other charges paid or payable in connecting with or in respect of any of the foregoing) to settle or dispose of any Claim or satisfy any judgment, fines, penalties or
liabilities, without limitation, and whether incurred alone or jointly with others, including any amounts which the Indemnified Party may reasonably suffer, sustain, incur or be required to pay in respect of the investigation, defence, settlement or
appeal of or preparation for any Claim or in connection with any action to establish a right to indemnification under this Agreement, and for greater certainty, includes all taxes, interest, penalties and related outlays of the Indemnified Party
arising from any indemnification of the Indemnified Party by the Corporation pursuant to this Agreement; 

  

	 	(i)	 “Other Entity” means a Subsidiary and any other Entity, in respect of which the Indemnified
Party was specifically requested by the Corporation to serve as a director, officer, employee, member, manager, trustee, agent or any other capacity or similar position of such Other Entity1; 

  

 

	1 	 I don’t think the language you added is correct. This would, for example, require Neptune to indemnify
Michael for a Claim against App Connect, even where Neptune is not related to the Claim at all. 

  
 – 2 – 

	 	(j)	 “Parties” means the Corporation and the Indemnified Party collectively and
“Party” means any one of them; and 

  

	 	(k)	 “Subsidiary” has the meaning set out in the Act. 

 

	1.2	 Certain Rules of Interpretation 

In this Agreement: 
  

	 	(a)	 Governing Law – This Agreement is a contract made under and shall be governed by and construed
in accordance with the laws of the Province of Québec and the federal laws of Canada applicable in the Province of Québec. 

  

	 	(b)	 Submission to Jurisdiction – Each Party submits to the exclusive jurisdiction and venue of any
court of competent jurisdiction sitting in Montréal (Québec), and will comply with all requirements necessary to give such court jurisdiction over the parties and the controversy. Each of the Parties irrevocably waives, to the fullest
extent it may effectively do so, the defence of an inconvenient forum to the maintenance of such action, application or proceeding. 

  

	 	(c)	 Headings – Headings of Articles and Sections are inserted for convenience of reference only and
do not affect the construction or interpretation of this Agreement. 

  

	 	(d)	 Number – Unless the context otherwise requires, words importing the singular include the plural
and vice versa. 

  

	 	(e)	 Severability – If, in any jurisdiction, any provision of this Agreement or its application to
any Party or circumstance is restricted, prohibited or unenforceable, the provision shall, as to that jurisdiction, be ineffective only to the extent of the restriction, prohibition or unenforceability without invalidating the remaining provisions
of this Agreement and without affecting the validity or enforceability of such provision in any other jurisdiction or without affecting its application to other Parties or circumstances. 

 

	 	(f)	 Entire Agreement – This Agreement constitutes the entire agreement between the Parties and sets
out all the covenants, promises, warranties, representations, conditions and agreements between the Parties in connection with the subject matter of this Agreement and supersedes all prior agreements, understandings, negotiations and discussions,
whether oral or written, pre-contractual or otherwise. There are no covenants, promises, warranties, representations, conditions or other agreements, whether oral or written,
pre-contractual or otherwise, express, implied or collateral, between the Parties in connection with the subject matter of this Agreement except as specifically set forth in this Agreement.

  
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 ARTICLE 2 

REPRESENTATIONS 
  

	2.1	 Representations of the Corporation 

The Corporation represents and warrants to the Indemnified Party that: 

 

	 	(a)	 Incorporation and Corporate Power – The Corporation is a corporation duly incorporated and
existing under the laws of Canada and has all necessary corporate power, authority and capacity to enter into this Agreement, to carry out its obligations under this Agreement, to own its assets and to carry on its business as presently conducted.

  

	 	(b)	 Due Authorization – The execution and delivery of this Agreement and the performance of the
obligations contemplated by this Agreement have been duly authorized by all necessary corporate action on behalf of the Corporation. This Agreement constitutes a valid and binding obligation of the Corporation enforceable against it in accordance
with its terms. 

  

	 	(c)	 No Conflict – The Corporation is not a party to, bound or affected by or subject to any:

  

	 	(i)	 indenture, mortgage, agreement, obligation or instrument; 

 

	 	(ii)	 charter or by-law; or 

 

	 	(iii)	 applicable law, statute, regulation, rule, order, ordinance, judgment, decree, licence or permit,

 that would be violated, breached by, or under which default would occur or an encumbrance would be
created as a result of the execution and delivery of this Agreement or the performance of any of the obligations provided for under this Agreement. 
  

	2.2	 Representations of the Indemnified Party 

The Indemnified Party represents and warrants to the Corporation that the Indemnified Party is not an undischarged bankrupt. 

ARTICLE 3 

INDEMNIFICATION BY CORPORATION AND 

OBLIGATIONS OF INDEMNIFIED PARTY 
  

	3.1	 Indemnification 

 

	 	(a)	 General Indemnity – Except in respect of an action by or on behalf of the Corporation or Other
Entity to procure a judgment in its favour against the 

  
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Indemnified Party, or except as otherwise provided in this Agreement, the Corporation agrees to indemnify and hold the Indemnified Party harmless, to the fullest extent permitted by law,
including but not limited to the indemnity under the Act, or as such law may from time to time hereafter be amended to increase the scope of such permitted indemnification (but in no case less than the extent permitted under the law in effect as of
the date hereof) from and against any and all Losses relating to, resulting from or arising out of any Claim, provided that the indemnity provided for in this Section 3.1(a) will only be available if: 

 

	 	(i)	 the Indemnified Party was acting honestly and in good faith with a view to the best interests of the
Corporation or Other Entity, as the case may be; and 

  

	 	(ii)	 in the case of a criminal or administrative action or proceeding that is enforced by monetary penalty, the
Indemnified Party had reasonable grounds for believing that the Indemnified Party’s conduct was lawful. 

  

	 	(b)	 Indemnity as of Right – Notwithstanding anything in this Agreement, the Indemnified Party is
entitled to an indemnity from the Corporation in respect of all costs, charges and expenses reasonably incurred by the Indemnified Party in connection with the defence of any Claim, if the Indemnified Party: 

 

	 	(i)	 was not judged by the court or other competent authority to have committed any fault or omitted to do
anything that the Indemnified Party ought to have done; and 

  

	 	(ii)	 fulfils the conditions set out in Sections 3.1(a)(i) and (a)(ii) above. 

 

	 	(c)	 Derivative Claims – In respect of any action by or on behalf of the Corporation or Other Entity
to procure a judgment in its favour against the Indemnified Party, in respect of which the Indemnified Party is made a party because of the Indemnified Party’s association with the Corporation or Other Entity, the Corporation shall make
application, at its expense, for the approval of a court of competent jurisdiction to advance monies to the Indemnified Party for Losses incurred by the Indemnified Party in connection with such action and to indemnify and save harmless the
Indemnified Party for such Losses provided the Indemnified Party fulfils the conditions set out in Sections 3.1(a)(i) and (a)(ii) above and provided that such advance or indemnification is not prohibited under any applicable statute and provided the
Indemnified Party shall repay such funds advanced if the Indemnified Party ultimately does not fulfil the conditions set out in Sections 3.1(a)(i) and (a)(ii) above. 

 

	 	(d)	 Incidental Expenses – Except to the extent such costs, charges or Expenses are paid by the Other
Entity, the Corporation shall pay or reimburse the Indemnified Party for the Indemnified Party’s reasonable travel, lodging or accommodation costs, charges or Expenses paid or incurred by or on behalf of the Indemnified Party in carrying out
the Indemnified Party’s duties as a director or officer of the Corporation or Other Entity. 

  
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	 	(e)	 Specific Indemnity for Statutory Obligations – Without limiting the generality of the preceding
Sections 3.1(a) through (d) of this Agreement, the Corporation agrees, to the extent permitted by law, to indemnify and save the Indemnified Party harmless from and against any and all costs, charges, expenses, fees, damages or liabilities
arising by operation of statute and incurred by or imposed upon the Indemnified Party in relation to the affairs of the Corporation or Other Entity in the Indemnified Party’s capacity as a director or officer thereof, including but not limited
to all statutory obligations to creditors, employees, suppliers, contractors, subcontractors, and any government or any agency or division of any government, whether federal, provincial, state, regional or municipal, provided that the indemnity
provided for in this Section 3.1(e) will only be available if the Indemnified Party fulfils the conditions in Sections 3.1(a)(i) and (a)(ii) above. 

  

	 	(f)	 Partial Indemnification – If the Indemnified Party is determined to be entitled under any
provisions of this Agreement to indemnification by the Corporation for some or a portion of the Losses incurred in respect of any Claim but not for the total amount thereof, the Corporation shall nevertheless indemnify the Indemnified Party for the
portion thereof to which the Indemnified Party is determined by a court of competent jurisdiction to be so entitled. In connection with any determination as to whether the Indemnified Party is entitled to be indemnified hereunder, there will be a
presumption that the Indemnified Party is so entitled, and the burden of proof shall, to the extent permitted by law, be on the Corporation to establish that the Indemnified Party is not so entitled. 

 

	 	(g)	 Advance of Expenses – Subject to Section 3.1(c) of this Agreement, the Corporation may, at
the request of the Indemnified Party, advance to the Indemnified Party sufficient funds, or arrange to pay on behalf of or reimburse the Indemnified Party for any costs, charges or Expenses which the Indemnified Party determines likely to be payable
in connection with investigating, defending, appealing, preparing for, providing evidence in or instructing and receiving the advice of the Indemnified Party’s counsel or other professional advisors in regard to any Claim or other matter for
which the Indemnified Party may be entitled to an indemnity or reimbursement under this Agreement, and such amounts shall be treated as a non-interest bearing advance or loan to the Indemnified Party,
pending approval of the Corporation and the Court (if required), to the payment thereof as an indemnity and provided that the Indemnified Party fulfils the conditions set out in Sections 3.1(a)(i) and (a)(ii) above. In the event it is ultimately
determined by a court of competent jurisdiction that the Indemnified Party did not fulfil the conditions set out in Sections 3.1(a)(i) and (a)(ii) above, or that the Indemnified Party was not entitled to be fully so indemnified, such loan or
advance, or the appropriate portion thereof shall, upon written notice of such determination being given by the Corporation to the Indemnified Party detailing the basis for such determination, be repayable on demand. 

 

	3.2	 Notice of Proceedings 

The Indemnified Party shall, as a condition precedent to the Indemnified Party’s right to be indemnified under this Agreement, give notice
in writing to the Corporation as soon as practicable upon being served with any statement of claim, writ, notice of motion, indictment, subpoena, 

  
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investigation order or other document commencing, threatening or continuing any Claim involving the Corporation, the Other Entity or the Indemnified Party which may result in a claim for
indemnification under this Agreement, and the Corporation agrees to give the Indemnified Party notice in writing as soon as practicable upon it, or any Other Entity, being served with any statement of claim, writ, notice of motion, indictment,
subpoena, investigation order or other document commencing or continuing any Claim involving the Indemnified Party. Such notice shall include a description of the Claim or threatened Claim, a summary of the facts giving rise to the Claim or
threatened Claim and, if possible, an estimate of any potential liability arising under the Claim or threatened Claim. Failure by the Indemnified Party to so notify the Corporation of any Claim shall not relieve the Corporation from liability under
this Agreement. 
  

	3.3	 Subrogation 

Subrogation – The Corporation: Promptly after receiving written notice from the Indemnified Party of any Claim or threatened Claim
(other than a Claim by or on behalf of the Corporation or Other Entity to procure a judgment in its favour against the Indemnified Party), the Corporation may, and upon the written request of the Indemnified Party shall, by notice in writing to the
Indemnified Party, assume conduct of the defence thereof in a timely manner and retain counsel on behalf of the Indemnified Party who is reasonably satisfactory to the Indemnified Party, to represent the Indemnified Party in respect of the Claim. In
the event the Corporation assumes conduct of the defence on behalf of the Indemnified Party, the Indemnified Party consents to the conduct thereof and of any action taken by the Corporation, in good faith, in connection therewith, and the
Indemnified Party shall fully cooperate in such defence including, without limitation, the provision of documents, attending examinations for discovery, making affidavits, meeting with counsel, testifying and divulging to the Corporation all
information reasonably required to defend or prosecute the Claim. 
  

	3.4	 Separate Counsel 

In connection with any Claim or other matter for which the Indemnified Party may be entitled to indemnity under this Agreement, the Indemnified
Party shall have the right to employ separate counsel of the Indemnified Party’s choosing and to participate in the defence thereof and the fees and disbursements of such counsel shall be at the Corporation’s expense. 

 

	3.5	 Settlement of Claim 

No admission of liability shall be made by the Indemnified Party without the consent of the Corporation and the Corporation shall not be liable
for any settlement of any Claim made without its consent. No admission of liability and no settlement of any Claim in a manner adverse to the Indemnified Party shall be made without the consent of the Indemnified Party. 

 

	3.6	 Determination of Right to Indemnification 

If the payment of an indemnity or the advancement of funds under this Agreement requires the approval of a court, under the provisions of the
Act or otherwise, either the Corporation or the Indemnified Party may apply to a court of competent jurisdiction for an order approving such indemnity or the advancement of such funds by the Corporation pursuant to this Agreement. 

  
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	3.7	 Other Rights and Remedies Unaffected 

The indemnification and payment provided in this Agreement shall not derogate from or exclude any other rights to which the Indemnified Party
may be entitled under any provision of the Act or otherwise at law, the articles or by-laws of the Corporation, the constating documents of any Other Entity, any applicable policy of insurance, guarantee or
third-party indemnity, any vote of shareholders of the Corporation, or otherwise, both as to matters arising out of the Indemnified Party’s capacity as a director or officer of the Corporation or Other Entity, or as to matters arising
out of any other capacity in which the Indemnified Party may act for or on behalf of the Corporation. 
 ARTICLE 4 

INSURANCE 
  

	4.1	 Liability Insurance 

 

	 	(a)	 Insurance Policy – So long as Indemnitee is a director or officer of the Corporation or an Other
Entity, the Corporation shall maintain at all times a directors’ and officers’ liability insurance with a responsible insurer, with a scope of coverage that is at least as broad, in all material respects, as the Corporation’s
directors’ and officers’ liability insurance in place as of the date of this Agreement.2 

 

	 	(b)	 Currency of Policy – The Corporation shall provide to the Indemnified Party a copy of
each policy of insurance providing the coverages contemplated by this Section 4.1 promptly after such coverage is obtained, and shall promptly notify the Indemnified Party if the insurer cancels or refuses to renew such coverage (or any part of
such coverage). 

  

	 	(c)	 Coverage – The Corporation shall not do any act or thing (including changing insurers) or
fail to do any act or thing, that could cause or result in a denial of insurance coverage or of any claim under such coverage; without limiting the generality of the foregoing, the Corporation shall give prompt and proper notice to the insurer of
any claim against the Indemnified Party. 

 ARTICLE 5 

MISCELLANEOUS MATTERS 
  

	5.1	 Continuance 

The Corporation shall give to the Indemnified Party fifteen (15) days’ notice of any application by the Corporation for a
certificate of continuance in any jurisdiction, indicating the jurisdiction in which it is proposed that the Corporation will be continued and the proposed date of continuance. Upon receipt of such notice, the Indemnified Party may require the
Corporation to agree to such amendments to this Agreement as the Indemnified Party, acting reasonably, considers necessary or desirable in order to provide the Indemnified Party with a comprehensive indemnity under the laws of the proposed
jurisdiction of continuance. 
  
  

	2 	 More than this is already specified in the employment agreement for Michael and there’s no reason to
specify this for other directors and officers. 

  
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	5.2	 Corporation and Indemnified Party to Cooperate 

The Corporation and the Indemnified Party shall, from time to time, provide such information and cooperate with the other, as the other may
reasonably request, in respect of all matters under this Agreement. 
  

	5.3	 Effective Time 

This Agreement shall be deemed to have effect as and from the first date that the Indemnified Party became a director or officer of the
Corporation or Other Entity. 
  

	5.4	 Insolvency 

The liability of the Corporation under this Agreement shall not be affected, discharged, impaired, mitigated or released by reason of the
discharge or release of the Indemnified Party in any bankruptcy, insolvency, receivership or other similar proceeding of creditors. 
  

	5.5	 Multiple Proceedings 

No action or proceeding brought or instituted under this Agreement and no recovery pursuant thereto shall be a bar or defence to any further
action or proceeding which may be brought under this Agreement. 
 ARTICLE 6 

GENERAL 
  

	6.1	 Term 

This Agreement shall survive after the Indemnified Party has ceased to act as a director or officer of the Corporation or Other Entity.

  

	6.2	 Deeming Provision 

The Indemnified Party shall be deemed to have acted or be acting at the specific request of the Corporation upon the Indemnified Party’s
being appointed or elected as a director or officer of the Corporation or Other Entity. 
  

	6.3	 Assignment 

Neither Party may assign this Agreement or any rights or obligations under this Agreement without the prior written consent of the other Party.

  

	6.4	 Enurement 

This Agreement enures to the benefit of, is binding upon, and is enforceable by the Parties and the affiliates, heirs, attorneys, guardians,
estate trustees, executors, trustees, administrators, successors, heirs, distributes, legatees, permitted assigns and other successors of the Indemnified 

  
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Party, any Entities that Indemnitee owns an interest in, including but not limited to, the entities specified on Exhibit A attached hereto, and the successors (including any successor by
reason of amalgamation) and permitted assigns of the Corporation. 
  

	6.5	 Amendments 

No amendment, supplement, modification or waiver or termination of this Agreement and, unless otherwise specified, no consent or approval by
any Party, is binding unless executed in writing by the Party to be so bound. For greater certainty, the rights of the Indemnified Party under this Agreement shall not be prejudiced or impaired by permitting or consenting to any assignment in
bankruptcy, receivership, insolvency or any other creditor’s proceedings of or against the Corporation or by the winding-up or dissolution of the Corporation. 

 

	6.6	 Notices 

Any notice, consent or approval required or permitted to be given in connection with this Agreement (in this Section referred to as a
“Notice”) shall be in writing and shall be sufficiently given if delivered (whether in person, by courier service or other personal method of delivery), or if transmitted by facsimile or
e-mail: 
  

	 	(a)	 in the case of a Notice to the Indemnified Party, to the Indemnified Party’s address on file with the
Corporation. 

  

	 	(b)	 in the case of a Notice to the Corporation at: 

Neptune Wellness Solutions Inc. 

545 Promenade du Centropolis, Suite 100 

Laval, Québec 

H7T 0A3 

Attention:        Chairman 

Any Notice delivered or transmitted to a Party as provided above shall be deemed to have been given and received on the day it is delivered or
transmitted, provided that it is delivered or transmitted on a Business Day prior to 5:00 p.m. local time in the place of delivery or receipt. If the Notice is delivered or transmitted after 5:00 p.m. local time or if such day is not a Business Day,
then the Notice shall be deemed to have been given and received on the next Business Day. 
 Any Party may, from time to time, change its
address by giving Notice to the other Party in accordance with the provisions of this Section. 
  

	6.7	 Further Assurances 

The Corporation and the Indemnified Party shall, with reasonable diligence, do all things and execute and deliver all such further
documents or instruments as may be necessary or desirable for the purpose of assuring and conferring on the Indemnified Party the rights created or intended by this Agreement and giving effect to and carrying out intention or facilitating the
performance of the terms of this Agreement, or evidencing any loan or advance made pursuant to Section 3.1(g) hereof. 

  
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	6.8	 Independent Legal Advice 

The Indemnified Party acknowledges that the Indemnified Party has been advised to obtain independent legal advice with respect to entering into
this Agreement, that the Indemnified Party has obtained such independent legal advice or has expressly determined not to seek such advice, and that the Indemnified Party is entering into this Agreement with full knowledge of the contents hereof, of
the Indemnified Party’s own free will and with full capacity and authority to do so. 
  

	6.9	 Execution and Delivery 

This Agreement may be executed by the Parties in counterparts and the counterparts may be executed and delivered by electronic means, with all
counterparts together constituting one agreement. 
  

	6.10	 Language 

The Parties confirm that it is their wish that this Agreement, as well as any other documents relating to this Agreement, including notices,
schedules and authorizations have been and shall be drawn up in the English language only. Les signataires confirment leur volonté que la présente convention, de même que tous les documents s’y rattachant, y compris tout
avis, annexe et autorisation, soient rédigés en anglais seulement. 
 IN WITNESS OF WHICH the Parties have duly
executed this Agreement. 
  

			
	 NEPTUNE WELLNESS SOLUTIONS INC.

		
	 By:
	 	
                  
  

		 	 Name: John Moretz

		 	 Title:   Chairman of the Board

  

					
	
                  
  
	 		 	
                  
  

	 [Witness to signature of Indemnified Party]
	 		 	 [NAME]

  
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 Schedule A 

EntitiesEX-10.6

 Exhibit 10.6 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is entered into effective as of this 6th day of July, 2019 by and between Michael Cammarata (the “Executive”) and Neptune Solutions Bien-Être Inc. and Neptune Holdings USA, Inc. (collectively, the
“Company”). 
 WHEREAS, the Company and the Executive wish to enter into this Agreement to set forth
the terms and conditions of the Executive’s employment with the Company. 
 NOW THEREFORE, in consideration of the
mutual covenants, promises and obligations set forth herein, the parties agree as follows: 
 1. Term. The Executive’s employment
hereunder will commence on July 8th, 2019 (the “Effective Date”) and will continue for three (3) years thereafter, provided that on the third (3rd) anniversary of the Effective Date and on each one (1) year anniversary thereafter (such date and each one-year anniversary thereafter, a
“Renewal Date”) this Agreement shall be deemed to be automatically extended upon the same terms and conditions for successive one (1) year periods unless either party provides written notice of its intention to
not extend the term of this Agreement at least ninety (90) days’ prior to the applicable Renewal Date. The period during which the Executive is employed by the Company hereunder is referred to as the “Term”. 

2. Position and Duties. 

2.1 Position. During the Term, the Executive will serve as Chief Executive Officer of the Company (or acting Chief
Executive Officer pending Health Canada security clearance) and will report to the board of directors of the Company (the “Board”). The Executive will have such duties, authority and responsibility as determined from time to
time by the Board and as are reasonably consistent with the Executive’s position. The Executive will be a fiduciary of the Company and shall act at all times in the Company’s best interests. 

2.2 Duties. 

(a) During the Term, the Executive will devote substantially all of his business time and attention to the business of the
Company, carry out his duties and responsibilities to the best of his ability and use his reasonable best efforts to promote the interests of the Company and its affiliates. All officers of the Company will report directly or indirectly to the
Executive. The Executive may not engage in any outside business activities which significantly conflict or interfere with the performance of the Executive’s duties or obligations hereunder. To the best of his knowledge, the Executive shall
disclose to the Board all board (or equivalent) or advisory roles held by the Executive that create a likely or actual conflict of interest and, if the likely or actual conflict of interest reasonably raises a significant concern with respect to
compliance with applicable laws or regulations, on the request of the Board and after meaningful consultation with the Executive, the Executive will extricate himself from such likely or actual conflict of interest. 

(b) Subject to Section 2.2(a), the Executive’s fiduciary duty to the Company and compliance with all applicable laws,
and notwithstanding anything to the contrary in any policies or Code of Conduct of the Company, during the Term: 
  

	 	(i)	 the Executive may (i) serve on the board of directors (or any similar governing body) of non-profit and for-profit companies, (ii) participate in 

	 	 
charitable, civic, educational, professional, community or industry organizations or affairs, (iii) continue to manage Executive’s current and future personal and family investments
(including those conducted through the Executive’s family office), and (iv) engage in any other outside business activity (including, without limitation, acting as an advisor, consultant, or in a similar capacity), whether or not such
activity is pursued for gain, profit or other pecuniary advantage; and 

  

	 	(ii)	 nothing contained in any other agreement of the Company or any rule or policy of the Company shall restrict,
impair or preclude any investment, management or other activity carried on by the Executive, the Executive’s family office and their respective affiliates, and the Company acknowledges and agrees that during the Term and thereafter (i) the
Executive, his family office and their respective affiliates may currently hold or, in the future, may make investments in, or lend money to, third parties, including third parties in the same or similar line of business as the Company, and in
connection with such investments or loans may serve on the board of directors (or any similar governing body) of any such third persons and/or may provide management, consulting or other services to such third parties and (ii) that, subject to
the provisions of Section 7, the Executive, his family office and their respective affiliates may hold or make investments in, lend money to, serve on the board of directors (or any similar governing body) of or provide services to such third
parties. 

 (c) Notwithstanding Section 2.2(a) or Section 16, the Company agrees that the
Executive may concurrently act as Chief Executive Officer of Schmidt’s Naturals for up to ninety (90) days from the Effective Date so the Executive can transition away from such employment, provided the Executive uses his reasonable best
efforts to uphold all of the Executive’s employment duties to the Company taking into account the Executive’s Chief Executive Officer role at Schmidt’s Naturals. For greater certainty, Executive may provide advisory services as an
advisor, consultant, director or otherwise to Schmidt’s Naturals during and following such ninety (90) day period. 

(d) On or as soon as practical following the Effective Date, the Executive will be appointed a director on the Board and the
Company will include the Executive as a nominee for election as a director at each annual shareholder meeting during the Term. During the Term, the Executive agrees to act as a director on the Board and as a director and/or officer of affiliates of
the Company without further compensation. 
 (e) The Executive will comply with all Company written rules and policies,
including the Code of Conduct and Insider Trading Policy. The Company may, from time to time and in writing, amend, alter, change, delete or establish new rules and policies to meet the business needs of the enterprise. The Executive agrees that,
immediately upon receiving notice and a copy of such revised policies, the Executive’s employment will be governed by such revised policies. 

3. Place of Performance. The Executive’s place of employment will be the Executive’s residence or other office location in
Florida as determined by the Executive, provided that the Executive will be expected to travel to and spend sufficient time in the Company’s corporate offices in order to properly supervise the Company’s management teams and accomplish the
Company’s goals and strategies, as well as such other locations as may be required by the Company to operate and grow its business. 

  
 2 

 4. Compensation. 

4.1 Base Salary. The Company will pay the Executive an annual base salary of one million dollars ($1,000,000) in
accordance with the Company’s normal payroll practices but at least as frequently as monthly. The Executive’s base salary will be reviewed from time to time by the Board and the Board may, but will not be required to, increase the base
salary during the Term. The Executive’s base salary, as in effect from time to time, may not be reduced and is referred to as “Base Salary”. 

4.2 Annual Bonus. The Executive will be eligible to participate in the Company’s annual bonus program, with an
annual target bonus opportunity of no less than 75% of Base Salary (“Target Bonus”). The annual bonus paid to the Executive in any year (a “Bonus”) will be determined based on the achievement of
corporate and individual performance goals established by the Board in consultation with the Executive for each fiscal year, before the commencement of the fiscal year or within the first ninety (90) days of each fiscal year. A Bonus, if awarded,
will be paid to the Executive no later than ninety (90) days after the end of the fiscal year for which such Bonus was earned. For 2019, the Executive shall be eligible to receive a pro-rated Bonus
(calculated as the Bonus that would have been paid for the entire fiscal year, multiplied by a fraction, the numerator of which is equal to the number of days the Executive was employed by the Company in the applicable fiscal year and the
denominator of which is equal to the total number of days in such year), and the applicable performance goals will be established within 90 days after the Effective Date. 

4.3 Long Term Incentive Opportunity. The Executive will receive a long-term incentive in the form of a one-time cash payment from the Company of $15 million dollars less applicable withholdings (the “LTI”) payable if the Company’s US market capitalization (“EV”)
based on the 30-day volume weighted average trading price of the Shares on NASDAQ is at least $1 billion (the “LTI Condition”) during the Term. The LTI will be paid to Executive
within ten (10) days after the date on which the LTI Condition has been satisfied. 
 4.4 New Hire Equity Grants.
In consideration of the Executive entering into this Agreement and as an inducement to join the Company, on the Effective Date, and conditional on shareholder approval as set out below, the Company will grant the Executive, pursuant to the
Company’s equity incentive plan, an aggregate twelve (12) million equity awards (“New Hire Equity Awards”) in the form of options and restricted stock units (“RSUs”), as set out below, as
follows: 
 (a) 1,200,000 time-based RSUs that vest in equal monthly installments over a three (3) year period
granted under the Company’s Equity Incentive Plan (the “EIP”); 
 (b) 1,600,000 time-based RSUs
that vest in equal monthly installments over a three (3) year period granted as a special inducement award outside of the EIP with terms and conditions substantially similar to those set out in the EIP; 

(c) 200,000 time-based options that vest in equal monthly installments over a three (3) year period granted under the
Company’s Stock Option Plan (“Option Plan”); 
 (d) 1.2 million options granted under the
Option Plan that vest as follows: 
  

	 	(i)	 750,000 performance-based options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $500 million; and 

  
 3 

	 	(ii)	 450,000 performance-based options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $1 billion; and 

(e) conditional upon Shareholder Approval (as defined below), a grant of 3.5 million performance-based options under the
Option Plan that vest as follows: 
  

	 	(i)	 1,000,000 options that vest upon the Company’s achievement of an annual adjusted EBITDA of at least
$40 million in any fiscal year; 

  

	 	(ii)	 1,000,000 options that vest upon the Company’s achievement of an annual adjusted EBITDA of at least
$65 million in any fiscal year; 

  

	 	(iii)	 1,500,000 options that vest upon the Company’s achievement of an annual adjusted EBITDA of at least
$90 million in any fiscal year; 

 (f) conditional upon Shareholder Approval (as defined below), a
grant of 4.3 million performance-based options under the Option Plan that vest as follows: 
  

	 	(i)	 800,000 options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $1 billion; 

  

	 	(ii)	 500,000 options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $2 billion; 

  

	 	(iii)	 500,000 options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $2.5 billion; 

  

	 	(iv)	 500,000 options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $3 billion; 

  

	 	(v)	 500,000 options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $3.5 billion; 

  

	 	(vi)	 500,000 options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $4 billion; 

  

	 	(vii)	 500,000 options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $4.5 billion; and 

  

	 	(viii)	 500,000 options that vest upon the Company’s achievement of an EV based on the 30-day volume weighted average trading price of the Shares on NASDAQ of at least $5 billion. 

  
 4 

 (g) all options included in the New Hire Grants will have a term of 10
years; 
 (h) the foregoing New Hire Equity Awards will be granted effective on the Effective Date based on a market price,
including for purposes of the exercise price of the stock options, of the Company’s common shares equal to the 10-day volume weighted average price of the common shares of the Company as reported by TSX
(calculated by dividing the total value by the total volume of securities traded for the ten (10) trading days before the date of grant) or, if greater, the closing price on the date of grant on the TSX or on NASDAQ, whichever is higher. 

(i) the New Hire Equity Awards shall be set out in award agreements between the Company and the Executive which shall be in the
form attached as Schedule B. 
 “Shareholder Approval” means approval by a majority of disinterested shareholders of
the Company at a duly called meeting of shareholders of an increase in the limits under the Option Plan, and ratification of the grants in Section 4.4(e) and Section 4.4(f), all in accordance with the requirements of the Toronto Stock
Exchange. 
 4.5 Annual Equity Grant. The Executive is not eligible for annual equity grants beyond those provided for
in this Agreement until the EV of the Company exceeds $5 billion. Upon the Company’s achievement of an EV of at least $5 billion, the Executive will be eligible for discretionary annual equity grants commensurate with the grants
issued to other senior executives of the Company. 
 4.6 Employee Benefits. During the Term, the Executive shall be
entitled to participate in all employee benefit plans, practices, and programs maintained by the Company, as in effect from time to time (collectively, “Employee Benefit Plans”), on a basis which is no less favorable than is
provided to other senior executives of the Company, to the extent consistent with applicable law and the terms of the applicable Employee Benefit Plans. The Company’s current Employee Benefit Plans include health, medical, dental, vision, life
and disability insurance plans in which the Executive is eligible to enroll as of the 31st day of employment. The Company reserves the right to amend or cancel any Employee Benefit Plans and its
insurance carriers at any time in its sole discretion, subject to the terms of such Employee Benefit Plan and applicable law. 

4.7 Vacation. During the Term, the Executive will be entitled to four (4) weeks of paid vacation per calendar year (pro-rated for partial years). Vacation entitlements, as to usage, carryover and payment for unused vacation, shall be in accordance with the Company’s vacation policy as in effect from time to time. 

4.8 Business Expenses. In accordance with the Company’s expense reimbursement policy, the Executive will be
entitled to reimbursement for all reasonable business expenses incurred by the Executive in connection with the performance of his duties hereunder, including without limitation, business travel expenses, upon the Executive’s presentation of
valid receipts, expense statements or other supporting documentation for such expenses as the Company may reasonably require. Notwithstanding anything to the contrary in the Company’s expense reimbursement policy, the Executive shall be
reimbursed for (i) first-class or charter air transportation for Executive on airline and route, including direct flights, selected by Executive, (ii) first class hotel accommodations in a five-star hotel, (iii) exclusive ground
transportation to and from airports and locations at which the Executive’s presence is required, (iv) dues for executive elite airline, health and social clubs and (v) premiums paid with respect to a personal Side A directors’
and officers’ insurance policy with a coverage limit of up to $15 million to the extent the Executive is not provided with such coverage pursuant to Section 4.9(b). 

  
 5 

 4.9 Indemnification/Insurance. 

(a) The Executive and the Company shall enter into the indemnification agreement set forth in Schedule A hereto. 

(b) During the Term and for a period of six (6) years thereafter, the Company shall purchase and maintain, at its own
expense, directors’ and officers’ liability insurance providing coverage, including Side A coverage with a limit of $15 million, to the Executive on terms that are no less favorable than the coverage provided to other directors and
similarly situated executives of the Company. 
 4.10 Reimbursement of Fees. The Company agrees to reimburse the
Executive in respect of reasonable legal fees, accounting fees and other expenses incurred by the Executive in the course of negotiating and completing this Agreement, conditional upon the Executive’s provision of reasonable supporting
invoices/receipts. Such reimbursements will be made within 10 days of receipt by the Company of the supporting invoices/receipts. 

4.11 Clawback Provisions. Notwithstanding any other provisions in this Agreement to the contrary, any amounts payable
under this Agreement are subject to any policy (whether in existence as of the Effective Date or later adopted) established by the Company providing for clawback or recovery of amounts that were paid to the Executive to the extent required under any
law, government regulation, or stock exchange listing requirement applicable to the Company The Company will make any determination for clawback or recovery in accordance with such law, regulation or listing requirement. 

4.12 Taxation of Compensation. 

(a) Executive and Company acknowledge that Executive will be rendering services hereunder as Chief Executive Officer for and on
behalf of each corporation that constitute the Company. Company and Executive will work on an allocation methodology for the Executive’s compensation set forth in this Agreement based upon such measures as Company and Executive mutually agree
that takes into consideration his work for each entity, does not violate any laws or regulations of any relevant jurisdiction or any stock exchange requirements on any exchange where Company shares are listed and for which an opinion has been
received from a national accounting or law firm qualified to provide opinions on Canadian tax matters. 
 (b) Subject to the
preceding paragraph, it is the intention of the parties that all stock option grants hereunder or the maximum amount approved by the Board be made in consideration of Executive’s services on behalf of Neptune Wellness Solutions Bien-Être
Inc. (“Neptune”), that all RSU grants or the maximum amount approved by the Board be made in consideration of Executive’s services on behalf of Neptune Holdings USA, Inc. (“Holdings”), and that
all cash bonuses and the LTI be allocated between each of Neptune and Holdings in such manner as determined by the Board immediately prior to payment, based upon Executive’s performance as Chief Executive Officer of each such corporation.
Executive’s Base Salary shall be allocated between Neptune and Holdings after considering the factors set out in the preceding paragraph. Company and Executive reserve the right to mutually change the allocation of Base Salary from time to
time. 
 5. Termination of Employment. The Term and the Executive’s employment under this Agreement may be terminated by either
the Company or the Executive at any time and for any reason. Upon such termination, the Executive will be entitled to the compensation and benefits described in this Section 5 and will have no further rights to any compensation or any other
benefits from the Company or any of its affiliates. 

  
 6 

 5.1 For Cause. The Executive’s employment hereunder may be
terminated by the Company for Cause. In the event of such termination, the Executive will be entitled to receive: 
 (a) any
accrued but unpaid Base Salary and accrued but unused vacation in accordance with Company policy, which will be paid on the pay date immediately following the Termination Date (as defined below); 

(b) reimbursement for unreimbursed business expenses properly incurred by the Executive, which will be paid in accordance with
the Company’s expense reimbursement policy; and 
 (c) all other payments, benefits or fringe benefits to which the
Executive may be entitled under the terms of any applicable compensation arrangement or benefit or fringe benefit plan as of the Termination Date, if any; provided that, in no event will the Executive be entitled to any payments in the nature of
severance or termination payments except as specifically provided herein (Items 5.1(a) through 5.1(c) are referred to herein collectively as the “Accrued Obligations”). 

For purposes of this Agreement, “Cause” means: 

 

	 	(i)	 the Executive’s willful and repeated failure to perform his duties (other than any such failure
resulting from incapacity due to physical or mental illness); 

  

	 	(ii)	 the Executive’s willful and repeated failure to comply with any valid and legal directive of the Board;

  

	 	(iii)	 the Executive’s conviction of or plea of guilty or no lo contendere to a charge of embezzlement,
misappropriation or fraud; 

  

	 	(iv)	 the Executive’s conviction of or plea of guilty or nolo contendere to a crime that constitutes a felony
(or state law equivalent) and which would damage the Company’s reputation or be incompatible with or impair the Executive’s ability to discharge his duties hereunder; 

 

	 	(v)	 the Executive’s willful violation of a written policy of the Company which is materially injurious to
the Company or its affiliates, including the Company’s Code of Conduct; or 

  

	 	(vi)	 the Executive’s material breach of any obligation under this Agreement or any other written agreement
between the Executive and the Company; 

 except for a failure, breach, or refusal which, by its nature, cannot reasonably
be expected to be cured, the Executive shall have ten (10) business days from the delivery of written notice by the Company within which to cure any acts constituting Cause. Notwithstanding anything in the foregoing to the contrary, Cause will
not be considered to be the basis for the Executive’s termination unless the Executive has been given written notice of the facts alleged to give rise to Cause, an opportunity to appear before the Board with counsel, and the Board with the
approval of at least two-thirds of the members of the Board (not counting the Executive), makes a written determination of Cause (which determination shall not be entitled to any deference or presumption).

  
 7 

 For greater certainty, it is acknowledged and agreed that the Executive’s inability to
act or to continue acting as CEO or acting CEO pending Health Canada security clearance or as a result of such security clearance being denied will not constitute Cause. 

5.2 Resignation by Executive. The Executive’s employment hereunder may be terminated upon the Executive providing a
notice of resignation with at least ninety (90) days’ written notice. In the event of any such termination, the Executive will be entitled to receive the Accrued Obligations and such other compensation and benefits as provided in this
Agreement. 
 5.3 Non-Renewal by the Company/Termination Without Cause or for Good
Reason. The Term and the Executive’s employment hereunder may be terminated by the Company without Cause or by the Executive for Good Reason. In the event of any such termination, or in the event the Company provides a notice of non-renewal to the Executive as set out in Section 1, then the Executive will be entitled to receive the Accrued Obligations, and subject to the Executive’s compliance with Sections 7 through 11 and his
execution of a release of claims in favor of the Company, its affiliates and their respective officers and board members in a form acceptable to the Company (a “Release”) and such Release becoming effective and irrevocable
within 60 days following the Termination Date, the Executive will be entitled to: 
 (a) an amount equal to: 

(i) eighteen (18) months of the Executive’s then current Base Salary; plus 

(ii) one and one-half (1.5) times the Executive’s then current Target Bonus; 

payable in substantially equal installments for eighteen (18) months in accordance with the Company’s normal
payroll practices, with the first such installment commencing on the payroll date following the date the Release becomes effective and irrevocable, provided that if the 60-day period spans two calendar years,
the payments will commence in the second calendar year and will include all amounts that otherwise would have been paid had no delay been imposed; 

(b) a pro-rated Bonus equal to the then-current Target Bonus for the year in which the
Executive was terminated based on the number of days the Executive was employed, payable in a single lump sum on the payroll date following the date the Release becomes effective and irrevocable, provided that if the
60-day period spans two calendar years, the payment will be made in the second calendar year; 

(c) a lump-sum payment equal to eighteen (18) months’ premiums at the rates
in effect on the Termination Date for health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), less applicable withholding taxes, payable on the payroll date following the date the Release becomes
effective and irrevocable, provided that if the 60-day period spans two calendar years, the payment will be made in the second calendar year; 

(d) the treatment of the Executive’s outstanding equity awards shall be determined in accordance with the terms of the
Company’s applicable equity incentive plan(s) and any applicable award agreements, except that notwithstanding the foregoing, and notwithstanding any term in the Company’s applicable equity incentive plan(s) or any applicable award
agreements: 
  

	 	(i)	 all of the Executive’s unvested equity awards shall continue to vest for eighteen (18) months from
the Termination Date; and 

  

	 	(ii)	 all of the Executive’s stock options shall remain exercisable for the remainder of their full term, as
set out in the applicable award 

  
 8 

	 	 
agreement(s), provided that for certainty only vested stock options (including those that vest after the Termination Date) may be exercised by the Executive; and 

(e) the Executive will continue to remain eligible to receive the LTI for eighteen (18) months after the Termination Date
and, if the LTI Condition is met and fully satisfied within such period, the Executive will receive payment of the LTI within ten (10) days after the date on which the LTI Condition has been satisfied, provided the Release has become
irrevocable as set out above and further, provided that if the 60-day period spans two calendar years, the payment will be made in the second calendar year. 

For purposes of this Agreement, “Good Reason” shall mean the occurrence, of any of the following, in each case during the
Term without the Executive’s written consent: 
  

	 	(i)	 Executive is required to act as acting CEO pending Health Canada security clearance and if clearance is not
obtained and he is unable to continue as CEO or acting CEO as a result; 

  

	 	(ii)	 a reduction in the Executive’s Base Salary; 

 

	 	(iii)	 a reduction in the Executive’s Target Bonus; 

 

	 	(iv)	 any material breach by the Company of any provision of this Agreement; 

 

	 	(v)	 a material, adverse change in the Executive’s title, authority, duties, or responsibilities (other than
temporarily while the Executive is physically or mentally incapacitated or as required by applicable law); 

  

	 	(vi)	 failure of the Company to obtain Shareholder Approval; 

 

	 	(vii)	 a change in the reporting structure so that not all of the officers of the Company report directly or
indirectly to the Executive; 

  

	 	(viii)	 a change in the Executive’s place of employment; 

 

	 	(ix)	 Executive fails to be appointed to the Board or ceases to be a member of the Board as a result of any
occurrence other than his voluntary resignation; or 

  

	 	(x)	 a successor or assign of the Company fails to specifically assume the obligations of the Company under this
Agreement, unless such obligations are binding on the successor or assign by operation of law. 

 The Executive cannot
terminate the Executive’s employment for Good Reason unless the Executive has provided written notice to the Company of the existence of the circumstances providing grounds for termination for Good Reason within sixty (60) days of the
Executive’s becoming aware of such grounds and the Company has had at least thirty (30) days from the date on which such notice is provided to cure such circumstances. If, after such thirty (30) day cure period the Executive believes
that Good Reason still exists, the Executive has sixty (60) days to terminate the Executive’s employment, otherwise the Executive will be deemed to have waived the Executive’s right to terminate for Good Reason with respect to such
grounds. 

  
 9 

 5.4 Change in Control. Notwithstanding any other provision contained
herein, upon the occurrence of a Change in Control (as defined in the EIP), the Executive will be entitled to: 
 (a) payment
of the LTI, if the LTI Condition has been met based on the implied EV under the Change in Control transaction for the Company as of immediately prior to closing of the Change in Control transaction, payable within ten (10) days following the
date on which the Change in Control occurs; 
 (b) the treatment of the Executive’s outstanding equity awards shall be
determined in accordance with the terms of the Company’s applicable equity incentive plan(s) or any applicable award agreements, except that notwithstanding the foregoing, and notwithstanding any term in the Company’s applicable equity
incentive plan(s) or any applicable award agreements: 
  

	 	(i)	 all of the Executive’s unvested equity awards shall become fully and 100% vested;

  

	 	(ii)	 all of the Executive’s equity awards that are stock options that have vested (including after giving
effect to paragraph 5.4(b)(i) above), shall remain exercisable for the remainder of their full term, as set out in the applicable award agreement(s); and 

  

	 	(iii)	 Notwithstanding the foregoing, the Executive will only vest in outstanding equity awards that constitute
deferred compensation within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) if the Change in Control constitutes a “change in control event” within the meaning of Treasury
Regulation section 1.409A-3(i)(5)(i). 

 5.5 Termination After a
Change in Control. Notwithstanding any other provision contained herein, if the Executive’s employment hereunder is terminated by the Executive as a voluntary resignation with or without Good Reason, by the Company on account of its failure
to renew the Agreement in accordance with Section 1 or without Cause (in all cases other than on account of the Executive’s death or disability, as that term is defined under any long-term disability plan maintained by the Company and
covering the Executive), in each case within twenty-four (24) months following a Change in Control (as defined in the EIP), then the Executive will be entitled to receive the Accrued Obligations, and subject to the Executive’s compliance
with Sections 7 through 11 and his execution of a Release and such Release becoming effective and irrevocable within 60 days following the Termination Date, the Executive will be entitled to: 

(a) an amount equal to the sum of: 
  

	 	(i)	 twenty-four (24) months of the Executive’s then-current Base Salary; 

 

	 	(ii)	 two (2) times the Executive’s then current Target Bonus; and 

 

	 	(iii)	 a pro-rated Bonus equal to the then current Target Bonus for the
year in which the Executive was terminated based on the number of days the Executive was employed; 

payable as a lump-sum in accordance with the Company’s normal payroll practices
following the date the Release becomes effective and irrevocable, provided that if the 60-day period spans two calendar years, the payment will be made in the second calendar year; and 

  
 10 

 (b) a lump-sum payment equal to
eighteen (18) months’ premiums at the rates in effect on the Termination Date for health coverage under COBRA, less applicable withholding taxes, payable on the payroll date following the date the Release becomes effective and irrevocable,
provided that if the 60- day period spans two calendar years, the payment will be made in the second calendar year. 
 Notwithstanding the
foregoing, if the Change in Control does not constitute a “change in control event” within the meaning of Treasury Regulation section 1.409A-3(i)(5)(i), the amounts payable pursuant to Sections
5.5(a)(i) and (ii) of this Agreement will be payable in substantially equal installments for twenty- four (24) months in accordance with the Company’s normal payroll practices, with the first such installment commencing on the payroll
date following the date the Release becomes effective and irrevocable, provided that if the 60-day period spans two calendar years, the payments will commence in the second calendar year and will include all
amounts that otherwise would have been paid had no delay been imposed. 
 5.6 Death. The Executive’s employment
hereunder will terminate automatically upon the Executive’s death during the Term. In the event of such termination, the Executive or the Executive’s estate or beneficiaries, as the case may be, will be entitled to receive the Accrued
Obligations. 
 5.7 Notice of Termination. Any termination of the Executive’s employment hereunder by the Company
or by the Executive during the Term (other than termination pursuant to Section 5.5 on account of the Executive’s death) will be communicated by written notice of termination (“Notice of Termination”) to the other
party hereto in accordance with Section 25. The Notice of Termination will specify (i) the termination provision of this Agreement relied upon, (ii) to the extent applicable, the facts and circumstances claimed to provide a basis for
termination of the Executive’s employment under the provision so indicated, and (iii) the applicable Termination Date, which will take into account any cure period required under Section 5.1. 

5.8 Termination Date. The Executive’s “Termination Date” will be: 

(a) if the Executive’s employment hereunder terminates on account of the Executive’s death, the date of the
Executive’s death; 
 (b) if the Employee’s employment is terminated pursuant to an order made by any regulatory
authority having jurisdiction to so order, the effective date specified in such order. 
 (c) if the Company terminates the
Executive’s employment hereunder for any reason, the date specified in the Notice of Termination, provided that it shall not include any period of contractual notice, reasonable notice, salary continuation or deemed employment that the Company
may be required at law to provide; 
 (d) if the Executive terminates his employment hereunder under Section 5.2, the
date specified in the Notice of Termination, which will be no less than 90 days following the date on which the Notice of Termination is delivered; provided that, the Company reserves the right to waive all or any part of the 90-day notice period by giving written notice to the Executive of such waiver and payment of Base Salary in respect of the number of days’ notice waived, and for all purposes of this Agreement, upon such
waiver, the Executive’s Termination Date will be determined by reference to any such waiver. 
 5.9
Section 280G. 
 (a) If any of the payments or benefits received or to be received by the Executive
(including, without limitation, any payment or benefits received in connection with a Change in Control or the Executive’s termination of employment, whether pursuant to the terms of this Agreement or any other 

  
 11 

 
plan, arrangement, or agreement, or otherwise) (all such payments collectively referred to herein as the “280G Payments”) (i) constitute ““parachute
payments”“ within the meaning of Section 280G of the Code, and (ii) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Executive’s benefits under
this Agreement shall be either (A) delivered, subject to any applicable tax or other withholdings, in full, or (B) delivered, subject to any applicable tax or other withholdings, to such lesser extent as would result in no portion of such
benefits being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income and employment taxes and the Excise Tax, results in the receipt by Executive, on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code. In the event that 280G Payments are to be reduced in
accordance with this Section 5.9(a), 280G Payments will be reduced in the following order: (i) cash payments not subject to Section 409A of the Code; (ii) cash payments subject to Section 409A of the Code; (iii) option
acceleration; (iv) RSUs; and (v) non- cash forms of benefits. To the extent any such payment is to be made over time (e.g., in installments, etc.), then the payments shall be waived in reverse chronological order. 

(b) All calculations and determinations under this Section 5.9 shall be made by an independent accounting firm or
independent tax counsel appointed by the Company and agreed to by the Executive (the “Tax Counsel”) whose determinations shall be conclusive and binding on the Company and the Executive for all purposes. For purposes of making the
calculations and determinations required by this Section 5.9, the Tax Counsel may rely on reasonable, good faith assumptions and approximations concerning the application of Section 280G and Section 4999 of the Code. The Company and
the Executive shall furnish the Tax Counsel with such information and documents as the Tax Counsel may reasonably request in order to make its determinations under this Section 5.9. The Company shall bear all costs the Tax Counsel may
reasonably incur in connection with its services. 
 5.10 Resignation of All Other Positions. Upon termination of the
Executive’s employment hereunder for any reason, the Executive will resign and be deemed to have resigned from all positions that the Executive holds as an officer or member of the Board (or a committee thereof) of the Company or any of its
affiliates. 
 5.11 No Mitigation or Set-Off. Notwithstanding any other
provision of this Agreement, no payments or benefits payable to the Executive pursuant to Sections 5.3 or 5.5 of this Agreement will be reduced by any payments, revenues or benefits received by the Executive from any other source whatsoever. Without
limiting the generality of the foregoing, the parties acknowledge and agree that the Executive will not be required to mitigate damages by seeking other employment or otherwise, nor will any payment or benefit provided for under Section 5.3 or
5.5 be reduced in any respect in the event that the Executive secures or does not pursue alternative employment or gainful activity following the Executive’s termination of employment with the Company. 

6. Cooperation. The parties agree that certain matters in which the Executive will be involved during the Term may necessitate the
Executive’s cooperation in the future. Accordingly, following the termination of the Executive’s employment for any reason, to the extent reasonably requested by the Board and taking into account the Executive’s other duties and
obligations, the Executive will, upon reasonable advance notice, cooperate with the Company in connection with matters arising out of the Executive’s service to the Company, including, without limitation, any litigation matters; provided that
the Company will make reasonable efforts to minimize disruption of the Executive’s other activities. The Company will reimburse the Executive for reasonable expenses incurred in connection with such cooperation, including travel expenses, and
will compensate the Executive at an hourly rate for all time spent on such matters based on the Executive’s Base Salary and Target Bonus as of the Termination Date. 

  
 12 

 7. Confidential Information. The Executive understands and acknowledges that during
the course of employment with the Company, the Executive will have access to and will learn about confidential, secret, and proprietary documents, materials, and other information, in tangible and intangible form, of and relating to the Company and
its businesses and existing and prospective customers, suppliers, investors, affiliates and other associated third parties (“Confidential Information”). The Executive further understands and acknowledges that this
Confidential Information and the Company’s ability to reserve it for the exclusive knowledge and use of the Company is of great competitive importance and commercial value to the Company, and that improper use or disclosure of the Confidential
Information by the Executive might cause the Company to incur financial costs, loss of business advantage, liability under confidentiality agreements with third parties, civil damages, and criminal penalties. 

Confidential Information includes all confidential or proprietary information, intellectual property (including trade secrets) and
confidential facts relating to or used or proposed to be used in the business, affairs or property of the Company and its affiliates, including, without limitation (i) all information which is confidential based upon its nature or the
circumstances surrounding its disclosure and which was acquired by the Executive during any period in which the Executive was affiliated with the Company in any capacity, including as an employee, and (ii) any confidential information relating
to the Company’s and its affiliates’ business policies, processes and templates, strategies, operations, finances, plans or opportunities. The Executive understands that the above list is not exhaustive, and that Confidential Information
also includes other information that is marked or otherwise identified as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential or proprietary in the context and circumstances in which the information
is known or used. Confidential Information does not include information that is generally available to and known by the public at the time of disclosure to the Executive provided that, such disclosure is not through the Executive’s direct or
indirect fault. 
 The Executive agrees not to directly or indirectly disclose, publish, communicate, or make available Confidential
Information, or allow it to be disclosed, published, communicated, or made available, in whole or part, to any entity or person whatsoever without the prior consent of an authorized officer acting on behalf of the Company (and then, such disclosure
shall be made only within the limits and to the extent of such consent). Nothing in this Agreement shall be construed to prevent disclosure of Confidential Information by the Executive in the course of performing his services under this Agreement or
as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law,
regulation, or order and that the Executive promptly provide written notice of any such order and any such disclosure to an authorized officer of the Company. 

Notice of Immunity Under the Economic Espionage Act of 1996, as amended by the Defend Trade Secrets Act of 2016. Notwithstanding
any other provision of this Agreement: 
  

	 	(i)	 The Executive will not be held criminally or civilly liable under any federal or state trade secret law for
any disclosure of a trade secret that: 

  

	 	(A)	 is made (1) in confidence to an authorized federal, state, or local government official, either
directly or indirectly, or to an attorney, and (2) solely for the purpose of reporting or investigating a suspected violation of law; or 

  

	 	(B)	 is made in a complaint or other document filed under seal in a lawsuit or other proceeding.

  
 13 

	 	(ii)	 If the Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law,
the Executive may disclose the Company’s trade secrets to the Executive’s attorney and use the trade secret information in the court proceeding if the Executive files any document containing trade secrets under seal and does not disclose
trade secrets, except pursuant to court order. 

 8. Non-solicitation of
Employees. During the Term and for eighteen (18) months after the Termination Date, the Executive will not, and will not assist, directly or indirectly any other person to (i) solicit or induce in any capacity any employee of the
Company or any of its affiliates, or solicit or seek to persuade any employee of the Company or any of its affiliates, who works in a managerial, marketing, sales, distribution, research or senior capacity to discontinue such employment, or
(ii) call on, solicit, induce, influence or encourage any independent contractor providing services to the Company or any of its affiliates to terminate or diminish its relationship with them. Notwithstanding the foregoing, (a) the
Executive, his family office and their respective affiliates shall be permitted to conduct general, non- directed solicitation advertisements or web postings for employment, invite individuals to connect on LinkedIn or similar websites or utilize an
independent employment search firm who has been instructed not to target employees of the Company or any of its affiliates and (b) the Executive, his family office and their respective affiliates may solicit to hire, and hire, any employee of
the Company or any of its affiliates who was terminated by the same at any time after, and only after, the observance of a six (6) month no - contact period to commence upon such employee’s effective termination date. 

9. Non-Solicitation of Customers. During the Term and for eighteen (18) months after the
Termination Date, the Executive will not, and will not assist, directly or indirectly any other person to solicit the patronage of, or attempt to sell to any Restricted Customer or Prospective Customer for purposes of providing products or services
competitive with the products and services offered by the Company. “Restricted Customer” means any individual, partnership, corporation or other legal entity to whom the Company sold products or provided services at any time
during the 12 month period prior to the Termination Date and with whom the Executive communicated or about whom the Executive had knowledge of trade secrets or Confidential Information, and “Prospective Customer” means any
individual, partnership, corporation or other legal entity from whom the Company solicited business at any time during the 12 month period prior to the Termination Date and with whom the Executive communicated or about whom the Executive had
knowledge of trade secrets or Confidential Information. 
 10. Non-competition. Subject to the
last sentence of Section 2.2(a), during the Term and for any of the twelve (12) months after the Termination Date, the Executive will not to engage in any Competitive Activity within the United States or Canada. “Competitive
Activity” means to, directly or indirectly, in whole or in part, engage in, provide services to, or otherwise participate in, whether as an employee, employer, owner, operator, manager, advisor, consultant, agent, partner, director,
stockholder, officer, or any other similar capacity, any entity engaged in a business that is competitive with the business of the Company. 

11. Non-disparagement. The Executive agrees and covenants that he will not at any time make,
publish or communicate to any person or entity or in any public forum any defamatory or disparaging remarks, comments or statements concerning the Company, or any of its employees, officers or directors. The Company also agrees and covenants that it
will cause the officers, directors and spokespersons of the Company to not at any time make, publish or communicate to any person or entity in any public forum any defamatory or disparaging remarks, comments or statements concerning the Executive.
Notwithstanding the foregoing, statements made (i) in the course of sworn testimony in administrative, judicial or arbitral proceedings (including, without limitation, depositions in connection with such proceedings) or (ii) in the normal
course of business and in connection with the Executive’s performance of his job duties (such as, 

  
 14 

 
for example, providing negative performance feedback to direct reports) shall not be subject to this Section 11. 

12. Acknowledgement. 

12.1 The Executive acknowledges and agrees that (i) the services to be rendered by him to the Company are of a special and
unique character, (ii) the Executive will obtain knowledge and skill relevant to the Company’s industry, methods of doing business and marketing strategies by virtue of the Executive’s employment, and (iii) the restrictive
covenants and other terms and conditions of this Agreement are reasonable and reasonably necessary to protect the legitimate business interest of the Company. 

12.2 The Executive acknowledges and agrees that (i) the amount of his compensation reflects, in part, his obligations and
the Company’s rights under Sections 7 through 11, (ii) that he has no expectation of any additional compensation, royalties or other payment of any kind not otherwise referenced herein in connection herewith, and (iii) that he will not be
subject to undue hardship by reason of his full compliance with the terms and conditions of Sections 7 through 11 or the Company’s enforcement thereof. 

13. Remedies. In the event of a breach or threatened breach by the Executive of Section 7, Section 8, Section 9,
Section 10 or Section 11, the Executive hereby consents and agrees that the Company will be entitled to seek, in addition to other available remedies, specific performance, a temporary or permanent injunction or other equitable relief
against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other
security. Such equitable relief will be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief. 

14. Proprietary Rights. 

14.1 Work Product. The Executive acknowledges and agrees that all writings, works of authorship, software, inventions,
ideas and other work product of any nature whatsoever, that are created, prepared, produced, authored, edited, amended, conceived or reduced to practice by the Executive individually or jointly with others during the Term and directly and solely in
the performance of the Executive’s job duties for the business or contemplated business or development of the Company (regardless of when or where the Work Product is prepared or whose equipment or other resources is used in preparing the same)
(“course of employment”) and all printed, physical and electronic copies, all improvements, rights and claims related to the foregoing, and other tangible embodiments thereof (collectively, “Work Product”) will be
the sole and exclusive property of the Company. For purposes of this Agreement, Work Product includes, but is not limited to, Company information, including plans, publications, strategies, agreements, documents, contracts, terms of agreements,
negotiations, manuals, reports, market studies, formulae, notes, communications, marketing information, advertising information and sales information. Notwithstanding the foregoing and for the avoidance of doubt, Work Product shall not include any
books, writings, speeches or other works of authorship, technologies, software, inventions, designs, materials, artwork, content, concepts, processes, discoveries, or any other tangible or intangible intellectual property, including any “moral
rights” or “artists rights” in any of the foregoing, created by Executive (whether alone or jointly with others) prior to the Effective Date of this Agreement or after the Effective Date of this Agreement if not created in the course
of employment (collectively, the “Executive Work Product”). Company acknowledges and agrees that it shall have no rights in and to any of the Executive Work Product, or any income derived from the Executive Work Product, and shall
not challenge the validity or ownership of the Executive Work Product. 

  
 15 

 14.2 Assignment of Rights. The Executive will promptly and fully
disclose all Work Products to the Company. The Executive hereby assigns and agrees to assign to the Company (or as otherwise directed by the Company) the Executive’s full right, title and interest in and to all Work Products. The
Executive agrees to execute any and all applications for domestic and foreign patents, copyrights or other proprietary rights and to do such other acts (including without limitation the execution and delivery of instruments of further assurance or
confirmation) requested by the Company to assign the Work Products to the Company and to permit the Company to enforce any patents, copyright or other proprietary rights to the Work Products. The Executive will not charge the Company
for time spent in complying with these obligations, except for time spent following the Executive’s termination of employment hereunder, in which case the Company will reimburse the Executive for reasonable expenses incurred in connection with
such cooperation, including travel expenses, and will compensate the Executive at an hourly rate for all time spent on such matters based on the Executive’s Base Salary and Target Bonus as of the Termination Date. All copyrightable works that
the Executive creates, except for copyrightable works embodied in the Executive Work Product, will be considered “work made for hire”. The Executive irrevocably waives to the greatest extent permitted by law, for the benefit of the
Company, all the Executive’s moral rights (if any) in the Work Products, including any right to the integrity of any Work Products, any right to be associated with any Work Products and any right to restrict or prevent the modification or use
of any Work Products in any way whatsoever. 
 15. Return of Property. Upon (i) termination of the Executive’s employment
for any reason, or (ii) the Company’s request at any time during the Executive’s employment, the Executive will return to the Company all property belonging to the Company and its predecessors, successors, affiliates or related
companies, including all documents in any format whatsoever, including electronic format, that is in his possession or control, and the Executive agrees not to retain any copies of such property in any format whatsoever. 

16. No Obligations to Former Employer. The Executive hereby acknowledges that the Executive is not under any obligation to any former
employer or any person, firm, or corporation which would prevent, limit, or impair in any way the performance by the Executive of the Executive’s duties as an employee of the Company. Notwithstanding the foregoing, the Company acknowledges and
agrees that Executive is subject to non-compete provisions as CEO of the Schmidt’s Naturals brand which restricts his ability to engage in the “development, production, manufacture, marketing, sale
or distribution of natural deodorants, soaps, and toothpastes” or to compete with Schmidt’s businesses “in which [Executive] were materially involved[,] had material management responsibility and/or . . . held material confidential
information” until after December 31, 2020. Until after December 31, 2020, the Company agrees that it shall use its reasonable best efforts to ensure that the Company’s activities do not result in a direct or indirect breach by Executive
of his obligations not to engage in the “development, production, manufacture, marketing, sale or distribution of natural deodorants, soaps, and toothpastes” or to compete with Schmidt’s artificial intelligence project and its
mouthwash, laundry, disinfectant wipes and cleaning spray businesses. 
 17. Governing Law. This Agreement, for all purposes, will be
construed in accordance with the laws of the State of Florida without regard to conflicts of law principles. 
 18. Entire Agreement.
Unless specifically provided herein, this Agreement contains all of the understandings and representations between the Executive and the Company pertaining to the subject matter hereof and supersedes all prior and contemporaneous understandings,
agreements, representations and warranties, both written and oral, with respect to such subject matter. The parties mutually agree that the Agreement can be specifically enforced in court and can be cited as evidence in legal proceedings alleging
breach of the Agreement. 

  
 16 

 19. Modification and Waiver. No provision of this Agreement may be amended or
modified unless such amendment or modification is agreed to in writing and signed by the Executive and by the Company. No waiver by either of the parties of any breach by the other party hereto of any condition or provision of this Agreement to be
performed by the other party hereto will be deemed a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor will the failure of or delay by either of the parties in exercising any right, power or
privilege hereunder operate as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other such right, power or privilege. 

20. Severability. Should any provision of this Agreement be held by a court of competent jurisdiction to be enforceable only if
modified, or if any portion of this Agreement will be held as unenforceable and thus stricken, such holding will not affect the validity of the remainder of this Agreement, the balance of which will continue to be binding upon the parties with any
such modification to become a part hereof and treated as though originally set forth in this Agreement. 
 The parties further agree that
any such court is expressly authorized to modify any such unenforceable provision of this Agreement in lieu of severing such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision, deleting any or
all of the offending provision, adding additional language to this Agreement or by making such other modifications as it deems warranted to carry out the intent and agreement of the parties as embodied herein to the maximum extent permitted by
applicable law. 
 The parties expressly agree that this Agreement as so modified by the court will be binding upon and enforceable against
each of them. In any event, should one or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other provisions hereof, and if
such provision or provisions are not modified as provided above, this Agreement will be construed as if such invalid, illegal or unenforceable provisions had not been set forth herein. 

21. Captions. Captions and headings of the sections and paragraphs of this Agreement are intended solely for convenience and no
provision of this Agreement is to be construed by reference to the caption or heading of any section or paragraph. 
 22.
Counterparts. This Agreement may be executed in separate counterparts, each of which will be deemed an original, but all of which taken together will constitute one and the same instrument. 

23. Tolling. Should the Executive violate any of the terms of the restrictive covenant obligations articulated herein, the obligation at
issue will run from the first date on which the Executive ceases to be in violation of such obligation. 
 24. Successors and Assigns.
This Agreement is personal to the Executive and will not be assigned by the Executive. Any purported assignment by the Executive will be null and void from the initial date of the purported assignment. The Company may assign this Agreement to any
successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company. This Agreement will inure to the benefit of, and be binding upon, the Company and
its successors and assigns, and the Company’s successors and assigns shall specifically assume the obligations of the Company under this Agreement, unless such obligations are binding on the successor or assign by operation of law. 

25. Notice. Notices and all other communications provided for in this Agreement will be in writing and will be delivered personally or
sent by registered or certified mail, return receipt requested, or by 

  
 17 

 overnight carrier to the parties at the addresses set forth below (or such other addresses
as specified by the parties by like notice): 
 If to the Company: 

Neptune Wellness Solutions Inc. 

545 Promenade du Centropolis 

Suite 100 

Laval, Québec 

H7T 0A3 

Attention: Chairman 

If to the Executive: 

To his address on file with the Company 

26. Representations and Warranties of the Executive. The Executive represents and warrants to the Company that: 

26.1 The Executive’s acceptance of employment with the Company and the performance of his duties hereunder will not
conflict with or result in a violation of, a breach of, or a default under any contract, agreement, or understanding to which he is a party or is otherwise bound. 

26.2 The Executive’s acceptance of employment with the Company and the performance of his duties hereunder will not
violate any non-solicitation, non-competition, or other similar covenant or agreement of a prior employer. 

26.3 The Executive has not (i) committed a “bad actor” event under Rule 506(d)(1) of Regulation D under the
Securities Act of 1933, (ii) pled guilty to or been found guilty of an Offence, or served as a director, officer, promoter, insider, or control person of an entity at the time of events that resulted in the entity doing so, and (iii) is
not currently subject to, or serving as a director, officer, promoter, insider, or control person of an entity that is currently subject to a current charge, indictment or proceeding for an Offence. For purposes of this Section 26.3, an
“Offense” is : (a) a misdemeanour or felony under the criminal legislation of the United States of America, or any state or territory therein, (b) a summary conviction or indictable offence under the Criminal Code
(Canada); (c) a quasi-criminal offence (for example under the Income Tax Act (Canada), the Immigration Act (Canada) or the tax, immigration, drugs, firearms, money laundering or securities legislation of any jurisdiction, domestic
or for foreign); or (d) an offence under the criminal legislation of any other jurisdiction outside of the United States and Canada. 

27. Currency. All dollar amounts herein are in US dollars. 

28. Withholding; Section 409A. 

28.1 The Company will have the right to withhold from any amount payable hereunder any Federal, state, provincial, territorial
and local taxes in order for the Company to satisfy any withholding tax obligation it may have under any applicable law or regulation. 

28.2 The parties intend that any amounts payable under this Agreement comply with, or are exempt from, the provisions of
Section 409A of the Code, along with the rules, regulations and guidance promulgated thereunder by the Department of the Treasury or the Internal Revenue Service (collectively, 

  
 18 

 
“Section 409A”) and this Agreement shall be interpreted and administered in a manner consistent with that intention. Notwithstanding anything herein to the contrary:
(i) if at the time of Executive’s termination of employment with the Company, Executive is a “specified employee” as defined in Section 409A and the deferral of the commencement of any payments or benefits otherwise payable
hereunder as a result of such termination of employment is necessary in order to prevent any accelerated or additional tax under Section 409A, then the Company will defer the commencement of the payment of any such payments or benefits
hereunder (without any reduction in such payments or benefits ultimately paid or provided to Executive) until the date that is six (6) months following Executive’s termination of employment with the Company (or the earliest date as is
permitted under Section 409A); and (ii) if any other payments of money or other benefits due to Executive hereunder could cause the application of an accelerated or additional tax under Section 409A, such payments or other benefits
shall be deferred if deferral will make such payment or other benefits compliant under Section 409A, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner determined by the Company in
consultation with the Executive that does not cause such an accelerated or additional tax. With respect to any amount of expenses eligible for reimbursement or the provision of any in-kind benefits under this
Agreement, to the extent such payment or benefit would be considered deferred compensation under Section 409A or is required to be included in Executive’s gross income for federal income tax purposes, such expenses (including, without
limitation, expenses associated with in-kind benefits) will be reimbursed by the Company no later than December 31st of the year following the year in which Executive incurs the related expenses. In no event
will the reimbursements or in-kind benefits to be provided by the Company in one taxable year affect the amount of reimbursements or in-kind benefits to be provided in
any other taxable year, nor will Executive’s right to reimbursement or in-kind benefits be subject to liquidation or exchange for another benefit. A termination of employment will not be deemed to have
occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits subject to Section 409A upon or following a termination of employment unless such termination is also a “separation from
service” (within the meaning of Section 409A), and notwithstanding anything contained herein to the contrary, the date on which such separation from service takes place will be the termination date. Any payments under this Agreement that
may be excluded from Section 409A of the Code either as separation pay due to an involuntary separation from service or as a short-term deferral will be excluded from Section 409A of the Code to the maximum extent possible. For purposes of
Section 409A of the Code, each installment payment provided under this Agreement will be treated as a separate payment. 
 29.
Survival. Upon the termination of this Agreement, the respective rights and obligations of the parties hereto will survive such termination to the extent necessary to carry out the intentions of the parties under this Agreement. 

30. Acknowledgment of Full Understanding. THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE HAS FULLY READ, UNDERSTANDS AND VOLUNTARILY
ENTERS INTO THIS AGREEMENT. THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE HAS HAD AN OPPORTUNITY TO ASK QUESTIONS AND CONSULT WITH AN ATTORNEY OF HIS CHOICE BEFORE SIGNING THIS AGREEMENT. 

[SIGNATURE PAGE FOLLOWS] 

  
 19 

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

			
	 NEPTUNE SOLUTIONS BIEN-ÊTRE INC.
	  	 NEPTUNE HOLDINGS USA, INC.

		
	 /s/ John M. Moretz
	  	 /s/ John M. Moretz

	 Per: John M. Moretz
	  	 Per: John M. Moretz

	 Chairman of the board
	  	 Chairman of the board

		
	 /s/ Michael Cammarata
	  	
	 MICHAEL CAMMARATA
	  	

  
 20

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