Document:

Exhibit 10.1

 

STOCK PURCHASE AGREEMENT

 

THIS STOCK PURCHASE AGREEMENT (this “Agreement”),
effective as of August 6, 2021 (the “Effective Date”) by and among (A) Chuah Su Mei, an individual with an address
of No. 45-2, Jalan USJ 21/10, Subang Jaya 47640, Selangor Darul Ehsan, Malaysia (the “Seller”), (B) Silver Glory Group
Limited, with an address at No. a1111, Huafeng financial port, 1003 Xin'an Sixth Road, Bao'an District, Shenzhen City, Guangdong Province,
China (“Buyer”), and (C) Tianci International, Inc. (“CIIT”), a Nevada corporation, with an address
at No. 45-2, Jalan USJ 21/10, Subang Jaya, Selangor Darul Ehsan, Malaysia (the “Company”).

 

WHEREAS, Seller owns 1,793,000 as of the
date of Closing restricted shares of common stock, par value $0.0001, of the Company;

 

WHEREAS, Buyer is willing to acquire 1,793,000
shares of common stock of the Company (the “Shares”) (which represent approximately 73.18% of the issued and outstanding
shares of common stock of the Company) from Seller for a purchase price of Five Hundred and Twenty Five Thousand U.S. Dollars ($525,000)
(the “Purchase Price”) on the terms and conditions set forth below;

 

WHEREAS, Seller, Buyer and Hunter Taubman
Fischer & Li LLC (the “Escrow Agent”) entered into an escrow agreement dated as August 2, 2021, as amended (the
“Escrow Agreement”); and

 

WHEREAS, Seller and Buyer have determined,
subject to the terms and conditions set forth in this Agreement, that the transaction contemplated hereby is desirable and in their respective
best interests.

 

NOW, THEREFORE, on the stated premises
and for and in consideration of the mutual covenants and agreements hereinafter set forth and the mutual benefits to the parties to be
derived here from, it is hereby agreed as follows:

 

ARTICLE I SALE AND PURCHASE OF THE SHARES

 

Section 1.1 Sale and Purchase. Subject
to the terms and conditions hereof, at the Closing (as defined in Section 1.2 below), Seller agrees to sell, assign, transfer, convey
and deliver to Buyer, and Buyer agrees to purchase from Seller, the Shares.

 

Section 1.2 Closing. The purchase of the
Shares shall be consummated at a closing (“Closing”) to take place remotely on or before 5 p.m. Eastern Time August
20, 2021 or any other date as agreed upon by the parties hereto (the “Closing Date”).

 

Section 1.3 Payment of the Purchase Price.
Upon the execution of the Escrow Agreement, Buyer should wire the Purchase Price to the Escrow Agent. Unless the Escrow Agreement has
been earlier terminated according to its terms, the full amount of the Purchase Price shall be released to Seller by the Escrow Agent
at the Closing.

 

Section 1.4 Delivery of Shares and Documents.

 

Unless waived in writing by Buyer, upon the Closing, the Seller and
the Company shall deliver to Buyer:

 

		1.	The Company’s books and records;

 

		2.	Executed Pay-off Letter or Waiver Letter from Seller regarding full repayment of and or cancellation and release of any and all liabilities
of the Company owed to Seller;

 

		3.	Signed resignation letters of all existing officers and directors of the Company;

 

		4.	Executed Board consents appointing designees of the Purchaser as directors and officers of the Company;

 

		5.	All Edgar codes of the Company necessary to make filings with the Securities and Exchange Commission;

 

 

 

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		6.	Contact information of service providers of the Company necessary to comply with SEC rules and regulations
and to maintain the quotation on over-the-counter bulletin board, and confirmation from each of such service providers that there is no
outstanding balance owed by the Company as of the Closing Date;

 

		7.	Written confirmation from the Company’s stock transfer agent that it has received all documentation
necessary to effectuate the transfer of stock certificates representing the Shares to the Purchaser, including the issuance of stock certificates
representing the Shares to the Purchaser or its designee.

 

Section 1.5 Other Closing Deliveries. Seller
shall deliver other customary closing documents as may be reasonably requested by Buyer.

 

ARTICLE II REPRESENTATIONS, COVENANTS AND WARRANTIES
OF THE COMPANY

 

The Company hereby represents and warrants to
Buyer that each of the following representations, warranties and covenants are true, correct, and complete as of the date hereof and as
of the Closing Date. All references in this Agreement to “Knowledge of the Company” shall mean the actual knowledge, after
reasonable investigation, of the Company.

 

Section 2.1 Corporate Existence and Power.
The Company is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation.
The Company has the requisite corporate power and authority to carry on its business as presently conducted and as currently proposed
to be conducted, to own and operate its properties and assets, to execute and deliver this Agreement, and to carry out the provisions
of this Agreement. The Company is duly qualified to do business and is in good standing as a foreign company in all jurisdictions in which
the nature of its activities and of its properties makes such qualification necessary, except for those jurisdictions in which failure
to do so would not have a Material Adverse Effect on the Company or its business. “Material Adverse Effect” means, any change,
effect or circumstance which, individually or in the aggregate, would reasonably be expected to: (a) have a material adverse effect on
the business, assets, financial condition, prospects or results of operations of the Company, as the case may be, in each case taken as
a whole; (b) materially impair the ability of the Company, as the case may be, to perform its obligations under this Agreement; or (c)
that would prohibit or otherwise materially interfere with the ability of any party to this Agreement to perform any of its obligations
under this Agreement in any material respect.

 

Section 2.2 Subsidiaries. The Company
does not own or control any equity security or other interest of any other corporation, partnership, limited liability company or
other business entity. The Company is not a participant in any joint venture, partnership, limited liability company or similar
arrangement.

 

Section 2.3 Organizational Documents. True,
correct and complete copies of the Organizational Documents of the Company have been made available to Buyer, and no action has been taken
to amend or repeal such Organizational Documents since the date of delivery. The Company is not in violation or breach of any of the provisions
of its Organizational Documents. “Organizational Documents” means, the Company’s articles of incorporation and bylaws.

 

Section 2.4 Capitalization. The authorized
capital stock of the Company consists of 100,000,000 of common stock, at $0.0001 par value, and 20,000,000 shares of preferred stock,
at $0.0001 par value. As of the date hereof and immediately prior to Closing, 2,450,148 shares of common stock are issued and outstanding,
including the Shares. There are no shares of preferred stock issued and outstanding and no other classes or series of capital stock authorized
or issued. All issued and outstanding shares immediately prior to the Closing are duly authorized, validly issued, fully paid and non-assessable,
free of liens, encumbrances, options, restrictions and legal or equitable rights of others not a party to this Agreement. There are no
outstanding dividends, whether current or accumulated, due or payable on any of the capital stock of the Company.

 

Section 2.5 Agreements. The Company is
not a guarantor or indemnitor of any indebtedness of any other person, party or entity. The Company has not declared or paid any dividends,
or authorized or made any distribution upon or with respect to any class or series of its equity securities. There are no outstanding
options, warrants, purchase agreements, participation agreements, subscription rights, conversion rights, exchange rights or other securities
or contracts that could require the Company to issue, sell or otherwise cause to become outstanding any of its authorized but unissued
shares of capital stock or any securities convertible into, exchangeable for or carrying a right or option to purchase shares of capital
stock or to create, authorize, issue, sell or otherwise cause to become outstanding any new class of capital stock. There are no outstanding
contractual obligations (contingent or otherwise) of the Company to retire, repurchase, redeem or otherwise acquire any outstanding shares
of capital stock of, or other ownership interests in the Company or to provide funds to or make any investment (in the form of a loan,
capital contribution or otherwise) in any other person.

 

 

 

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Section 2.6 Authorization; No Contravention.
The execution, delivery and performance by the Company of this Agreement and the transactions contemplated hereby (a) have been duly authorized
by all necessary action of the Company, (b) do not violate, conflict with or result in any breach or default of (or with due notice or
lapse of time or both would result in any breach, default or contravention of), or the creation of any lien under, any contractual obligation
of the Company or any requirement of law applicable to the Company which have result in a Material Adverse Effect, and (c) do not violate
any judgment, injunction, writ, award, decree or order (collectively, "Orders") of any governmental authority against,
or binding upon, the Company. There are no actions, subpoenas, suits, proceedings, claims, complaints, disputes, arbitrations or investigations
(collectively, "Claims") pending, initiated, or, to the knowledge of the Company, threatened, at law, in equity, in arbitration
or before any governmental authority against the Company.

 

Section 2.7 Binding Effect. This Agreement
has been duly executed and delivered by the Company and constitutes the legal, valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
fraudulent conveyance or transfer, moratorium or similar laws affecting the enforcement of creditors' rights generally and by general
principles of equity.

 

Section 2.8 Disclosure. The Company understand
and confirm that Buyer is relying on the representations, warranties and covenants contained in this Agreement and the disclosures set
forth in the reports, forms and other documents filed with the SEC by the Company (collectively, the “SEC Reports”)
in entering into this Agreement. All disclosures contained in the SEC Reports or otherwise provided to Buyer regarding the Company, its
businesses and the transactions contemplated hereby, furnished by or on behalf of Seller or the Company are complete, true and correct
and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements
made therein, in light of the circumstances under which they were made, not misleading.

 

Section 2.9 SEC Reports; Financial Statements.
The Company has filed all required reports under Section 13 or 15(d) of the Exchange Act (“SEC Reports”) for the two
(2) years preceding the date hereof. As of their respective dates, the SEC Reports and any registration statements filed under the Securities
Act (the “Registration Statements”) complied in all material respects with the requirements of the Exchange Act and
the Securities Act, as applicable, and the rules and regulations of the SEC promulgated thereunder, and none of the SEC Reports or Registration
Statements, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein
or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The financial
statements of the Company included in the Registration Statement and the SEC Reports comply in all material respects with applicable accounting
requirements and the rules and regulations of the SEC with respect thereto as in effect at the time of filing, were prepared in accordance
with GAAP applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto, or, in the case
of unaudited statements as permitted by Form 10-Q of the SEC), and fairly present in all material respects (subject in the case of unaudited
statements, to normal, recurring audit adjustments) the financial position of the Company as at the dates thereof and the results of its
operations and cash flows for the periods then ended. The disclosure set forth in the SEC Reports and Registration Statements regarding
the Company’s business is current and complete and accurately reflects operations of the Company, as it exists as of the date hereof.

 

Section 2.10 Filings with Government Agencies.
The Company files annual and quarterly reports with the SEC and is current in all filings that might be required and is current in their
filings and reporting to the State of Nevada and any other states where it is currently qualified to do business. Upon the purchase of
the Shares by Buyer, the Company will supply Buyer with all information that is currently available for the Company.

 

Section 2.11 Tax Matters. Seller shall
be responsible for and pay all taxes associated with the transactions contemplated by this Agreement that are attributable to the Company
and Seller including any taxes and any penalties associated with late payment of any taxes that were due or required to have been paid
or withheld during the pre-closing tax period related to late filing of tax returns. Seller and the Company are not parties to any tax
allocations or sharing agreements. The Shares are not subject to any lien arising in connection with any failure or alleged failure to
pay tax. There are no pending, threatened, or proposed audits, assessments or claims from any tax authority for deficiencies, penalties,
or interest with respect to Seller that would affect the Shares.

 

 

 

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To the Company's and Seller’s knowledge,
no claim has been made by an authority in a jurisdiction where the Company does not file tax returns that it is or may be subject to taxation
by that jurisdiction. There are no actual, pending or, to the Company's or Seller’s knowledge, threatened liens, encumbrances, or
charges against any of the assets of the Company arising in connection with any failure (or alleged failure) to pay any tax incurred.
To the Company's and Seller’s knowledge, there is no dispute or claim concerning any tax liability of the Company either claimed
or raised by any authority in writing, orally or by any other means of communication. The Company has not waived any statute of limitations
in respect of taxes or agreed to any extension of time with respect to a tax assessment or deficiency.

 

Section 2.12 Financial Statements. The
Company's financial statements fairly present the assets of the Company and liabilities of the Company incurred, in each case.

 

Section 2.13 Employees. Except as disclosed
in the SEC Reports, the Company has no employees, independent contractors or other persons providing services to them. The Company is
not liable for the payment of any compensation, damages, taxes, fines, penalties or other amounts, however designated, for failure to
comply with any of the laws.

 

Section 2.14 Compliance with Laws. The
business and operations of the Company have been and are being conducted materially in accordance with all applicable laws. The Company
has not received notice of any violation (or any proceeding involving an allegation of any violation) of any applicable law and, no proceeding
involving an allegation of violation of any applicable law is threatened or contemplated. The Company has complied with all federal and
state securities laws in connection with the offer, sale and distribution of its securities.

 

Section 2.15 Bank Accounts and Safe Deposit
Boxes. The Company does not have any bank or other deposit or financial account, nor does the Company have any lock boxes or safety
deposit boxes.

 

Section 2.16 Intellectual Property. The
Company does not own, use or license any intellectual property in its business as presently conducted.

 

Section 2.17 Authorization; Third Party Consents.
No consent, approval, authorization, order, registration or qualification (each, an "Authorization") of or with any governmental
authority or any other person is required for the execution, delivery or performance (including, without limitation, the sale of the Shares)
by, or enforcement against, the Company of this Agreement or the consummation by the Company of the transactions contemplated by this
Agreement, except (i) such Authorizations as have already been obtained or (ii) as otherwise provided in this Agreement.

 

Section 2.18 Absence of Litigation. There
are no lawsuits, actions or administrative, arbitration or other proceedings or governmental investigations ongoing, pending or threatened
against or relating to the Company, or the Company's properties or business. The Company has not entered into or been subject to any consent
decree, compliance order, or administrative order with respect to any property owned, operated, leased, or used by the Company. The Company
has not received any request for information, notice, demand letter, administrative inquiry, or formal or informal complaint or claim
with respect to any property owned, operated, leased, or used by the Company or any facilities or operations thereon.

 

ARTICLE III REPRESENTATIONS, COVENANTS AND WARRANTIES
OF SELLER.

 

Seller hereby represents and warrants to Buyer
that each of the following are true, correct, and complete as of the date hereof and as of the Closing Date. All references in this Agreement
to “knowledge of Seller(s)” shall mean the actual knowledge, after reasonable investigation, of Seller.

 

Section 3.1 Authorization; No
Contravention. The execution, delivery and performance by Seller of this Agreement and the transactions contemplated hereby (a)
have been duly authorized by all necessary action of Seller, (b) do not violate, conflict with or result in any breach or default of
(or with due notice or lapse of time or both would result in any breach, default or contravention of), or the creation of any lien
under, any contractual obligation of the Seller or any requirement of law applicable to the Seller, and (c) do not violate any
Orders of any governmental authority against, or binding upon, Seller. There are no Claims pending, initiated, or, to the knowledge
of Seller, threatened, at law, in equity, in arbitration or before any governmental authority against the Company.

 

 

 

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Section 3.2 Ownership of Shares. Seller
is the legal owner, and has good and marketable title (beneficially and of record) to the portion of the Shares he or she owns. All of
the Shares, when sold to Buyer pursuant to this Agreement, will be: (i) duly authorized, validly issued, and outstanding; (ii) fully paid,
non-assessable, and free of preemptive rights; and (iii) free and clear of any and all pledges, claims, restrictions, charges, liens,
security interests, encumbrances, or other interests of third parties of any nature whatsoever. Immediately prior to the Closing Date,
to Seller’s knowledge, there are no outstanding options, warrants, rights, commitments, or agreements of any kind for the issuance
or sale of, or outstanding securities convertible into, any additional shares of capital stock of any class of the Company; (ii) there
are no voting trusts, voting agreements, proxies, or other agreements, instruments, or undertakings with respect to the voting of any
Company securities to which the Company or any of its shareholders is a party; and (iii) there are no restrictions on transfer of any
Company securities except for restrictions imposed by applicable laws. There are no contracts, commitments, understandings or arrangement
by which the Company is bound to issue additional registered capital, share capital or other securities.

 

Section 3.3 Binding Effect. This Agreement
has been duly executed and delivered by Seller and constitutes the legal, valid and binding obligation of Seller, enforceable against
Seller and the Company in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
fraudulent conveyance or transfer, moratorium or similar laws affecting the enforcement of creditors' rights generally and by general
principles of equity.

 

Section 3.4 Disclosure. Seller understands
and confirms that Buyer is relying on the representations, warranties and covenants contained in this Agreement and the disclosures set
forth in the reports, forms and other documents filed with the SEC by the Company (collectively, the “SEC Reports”)
in entering into this Agreement. All disclosures contained in the SEC Reports or otherwise provided to Buyer regarding the Company, its
businesses and the transactions contemplated hereby, furnished by or on behalf of Seller or the Company are complete, true and correct
and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements
made therein, in light of the circumstances under which they were made, not misleading.

 

Section 3.5 [Intentionally omitted.]

 

Section 3.6Due Diligence Materials Provided.
Seller has provided Buyer true and accurate copies of all corporate books and records relating to the Company in Seller’s
possession or control. Seller does not have any knowledge of any liability or obligation of the Company other than is reflected in said
books and records.

 

Section 3.7 Absence of Undisclosed Liability.
As of the Closing Date, Seller and the Company had no liabilities which arose, either accrued or contingent, of a nature required
to be reflected in the financial statements in accordance with generally accepted accounting principles, and whether due or to become
due, which individually or in the aggregate are reasonably likely to have an adverse effect on the Company. The Company has fully paid
all debtors, vendors and service providers for all obligations that have become due and payable as of the Closing Date.

 

ARTICLE IV REPRESENTATIONS, COVENANTS AND WARRANTIES
OF BUYER

 

Buyer hereby represents and warrants to Seller
that each of the following are true, correct, and complete as of the date hereof and the Closing.

 

Section 4.1 No Conflict, Authority. The
execution of this Agreement and the consummation of the transactions contemplated by this Agreement will not result in the material breach
of any term or provision of, or constitute an event of default under, any material debt instrument, which may include an indenture, mortgage,
deed of trust or other contract, agreement or instrument to which Buyer is a party. Buyer has full power, authority and legal right and
has taken all action required by law or otherwise to authorize the execution and delivery of this Agreement.

 

Section 4.2 Restricted Shares. Buyer acknowledges
that the Shares purchased have not been registered under the Securities Act of 1933, as amended (“Securities Act”)
or any state securities laws, will be issued in reliance upon an exemption from the registration and prospectus delivery requirements
of the Securities Act which relate to private offerings, will be issued in reliance upon exemptions from the registration and prospectus
delivery requirements of state securities laws which relate to private offerings and Buyer must therefore bear the economic risk of such
investment indefinitely unless a subsequent disposition thereof is registered under the Act and applicable state securities laws or is
exempt therefrom. Buyer acknowledges that the shares shall bear restrictive legends.

 

 

 

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Section 4.3 Buyer’s Sophistication. Buyer
(i) acknowledges that the purchase of Shares involves a high degree of risk in that the Company has no current business operations or
plans and may require substantial funds; (ii) an investment in the Company is highly speculative and only investors who can afford the
loss of their entire investment should consider investing in the Company and the Shares; (iii) has such knowledge and experience in finance,
securities, investments, including investment in non-listed and non -registered securities, and other business matters so as to be able
to protect its interests in

 

connection with this transaction; (iv) that the
sale of the Shares to Buyer is not registered with the SEC or with the securities administrator of any state; (v) that the Shares are
being sold pursuant to an exemption from such registration requirements; and (vi) the Shares are “restricted securities” that
will bear a restrictive legend prohibiting their further transfer without registration or any exemption therefrom.

 

ARTICLE V POST-CLOSING COVENANTS

 

Seller hereby covenants to Buyer as follows:

 

Section 5.1 Post-Closing SEC Reports. Upon
the Closing, Seller shall cause the Company to timely file a Current Report on Form 8-K disclosing the entry by Seller of this Agreement.
From and after the Closing Date until the filing of Quarterly Report on Form 10-Q or Annual Report on Form 10-K with the SEC (“Periodic
Report”), Seller shall timely collect and deliver necessary information of the Company’s business or operation prior to
and as of the Closing Date for the purpose of preparing the Periodic Report and shall use its best efforts to cooperate with the Company
and the Company’s auditor in connection with the auditor’s review of the Periodic Report. From and after the Closing Date,
in the event the SEC notifies the Company of its intent to review any SEC Report filed prior to the Closing Date or the Company receives
any oral or written comments from the SEC with respect to any SEC Report filed prior to the Closing Date or any disclosure regarding the
Company’s business or operations, as in existence through the date hereof in any SEC Report or registration statement filed after
the Closing Date, Buyer shall promptly notify Seller and Seller shall make commercially reasonable efforts to cooperate with Buyer in
connection with such review and response.

 

Section 5.2 Assistance with Post-Closing SEC
Reports and Inquiries. Upon the request of Buyer, after the Closing Date, Seller shall use his or her best efforts to provide such
information available to them, including information, filings, reports, financial statements or other circumstances of the Company occurring,
reported or filed prior to the Closing, as may be necessary or required by the Company for the preparation of the post-Closing Date reports
that the Company is required to file with the SEC to remain in compliance and current with its reporting requirements under the Exchange
Act, or filings required to address and resolve matters as may relate to the period prior to the Closing and any SEC comments relating
thereto or any SEC inquiry thereof.

 

ARTICLE VI REMEDIES

 

Section 6.1 Indemnification is Exclusive
Remedy. This Agreement will be governed by the internal laws of the State of New York without regard to conflicts of laws
principles. Any controversy or claim arising out of, or relating to, this Agreement, or the making, performance, or interpretation
thereof, shall be adjudicated by the state or federal courts located in New York, New York and may only be brought by a party if it
is permitted pursuant to and is brought in accordance with the provisions of this Article VI. No party may bring any claim
for breach, loss or damage arising out of, or relating to, this Agreement, or the making, performance, or interpretation thereof,
unless the party bringing such claim is entitled to indemnification for such breach, loss or damage pursuant to Article VI of
this Agreement.

 

Section 6.2 Indemnification.

 

(a) Indemnification by Seller. From and
after the Closing, Seller agrees to indemnify Buyer and each of its affiliates and each of its managers, directors, officers, employees,
agents and advisors (including financial advisors, attorneys and accountants) against all actual losses, damages and expenses (collectively,
“Losses”) actually incurred by Buyer, caused by (i) any breach of any representation or warranty made by Seller in
Article III of this Agreement or made by the Company in Article II of this Agreement or in any document or certificate delivered
by Seller pursuant to this Agreement; and (ii) any breach of any covenant or obligation of Seller in this Agreement or any documents required
to be performed by Seller on, prior or after the Closing Date. The representations, covenants and warranties of the Seller shall survive
the Closing for a period of six (6) months.

 

 

 

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(b) Indemnification by Buyer. From and
after the Closing, Buyer agrees to indemnify the Company and Seller against all actual Losses actually incurred by Seller, caused by (i)
any breach of any representation or warranty made by Buyer in Article IV of this Agreement; and (ii) any breach of any covenant
or obligation of Buyer pursuant to this Agreement or any documents required to be performed by Buyer after the Closing Date.

 

Section 6.3 Certain Limitations. The party
making a claim under this Article VI is referred to as the "Indemnified Party," and the party against whom such
claims are asserted under this Article VI is referred to as the "Indemnifying Party." The indemnification provided
for in Section 6.2 shall be subject to the following limitations:

 

(a)               
Payments by an Indemnifying Party pursuant to Section 6.2 (a) or 6.2 (b) in respect of any Loss shall be limited
to the amount of any liability or damage that remains after deducting therefrom any insurance proceeds and any indemnity, contribution
or other similar payment received or reasonably expected to be received by the Indemnified Party (or the Company) in respect of any such
claim. The Indemnified Party shall use its commercially reasonable efforts to recover under insurance policies or indemnity, contribution
or other similar agreements for any Losses prior to seeking indemnification under this Agreement.

 

(b)              
Payments by an Indemnifying Party pursuant to Section 6.2 (a) or 6.2 (b) in respect of any Loss shall be reduced
by an amount equal to any tax benefit realized or reasonably expected to be realized as a result of such Loss by the Indemnified Party.

 

(c)               
In no event shall any Indemnifying Party be liable to any Indemnified Party for: (i) any punitive, incidental, consequential, special
or indirect damages, including loss of future revenue or income, loss of business reputation or opportunity relating to the breach or
alleged breach of this Agreement, or diminution of value or any damages based on any type of multiple, or (ii) any amounts that would
in the aggregate exceed Fifty Thousand ($50,000) dollars.

 

(d)              
Each Indemnified Party shall take, and cause its affiliates to take, all reasonable steps to mitigate any Loss upon becoming aware
of any event or circumstance that would be reasonably expected to, or does, give rise thereto, including incurring costs only to the minimum
extent necessary to remedy the breach that gives rise to such Loss.

 

Section 6.4 Indemnification Procedures.

 

(a)                Except to the extent set forth in this Section 6.4, a party will not have any liability under the indemnity provisions of
this Agreement with respect to a particular matter unless a written notice (a “Claim Notice”) setting forth in reasonable
detail: (i) the breach or other matter giving rise to such indemnification claim which is asserted, (ii) the estimated amount, if reasonably
practicable, of the Losses that have been incurred by the Indemnified Party in connection therewith, and (iii) copies of any notices,
claims or complaints sent or filed by the claimant, has been given to the Indemnifying Party promptly, but in any event within thirty
(30) days, after the Indemnified Party becomes aware of such claim (including the assertion or commencement of any third-party claim).
Notwithstanding the preceding sentence, failure of the Indemnified Party to give timely notice hereunder shall not release the Indemnifying
Party from its obligations under this Section 6.4, except to the extent the Indemnifying Party is actually prejudiced by such failure
to give notice.

 

 

 

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(b)                Upon receipt of notice of any claim, suit, action or legal proceeding by a third party for which indemnification might be claimed
by an Indemnified Party (a “Third-Party Claim”), the Indemnifying Party shall be entitled to defend, contest or otherwise
protect against the Third-Party Claim at its own cost and expense, by providing written notice to the Indemnified Party of such election
within thirty (30) days after the Indemnified Party receives a Claim Notice with respect to such Third-Party Claim, and the Indemnified
Party must cooperate in any such defense or other action; provided, that the Indemnifying Party may not control the defense of any Third-Party
Claim that is criminal in nature or that seeks non-monetary equitable relief that would reasonably be expected to be material to the
Indemnified Party if adversely determined. The Indemnified Party shall have the right, but not the obligation, to participate at its
own expense in defense thereof by counsel of its own choosing, but the Indemnifying Party shall be entitled to control the defense unless
the Indemnifying Party does not elect to assume defense of the Third-Party Claim, is not entitled under this Section 6.4 to control
the defense of the Third-Party Claim or fails to competently conduct the defense of such Third-Party Claim. If the Indemnifying Party
undertakes the defense of a Third-Party Claim, the Indemnified Party shall not, so long as the Indemnifying Party competently conducts
the defense thereof, be entitled to recover from the Indemnifying Party any legal or other expenses subsequently incurred by the Indemnified
Party in connection with the defense thereof, except (i) where separate representation is necessary, in the reasonable opinion of counsel
to the Indemnified Party, to avoid a conflict of interest that cannot be waived such that representation of both parties by the same
counsel would violate processional standards of conduct for attorneys in the jurisdiction where the Indemnifying Party’s counsel
is practicing on behalf of the Indemnifying Party, or (ii) reasonable costs of investigation undertaken by the Indemnified Party with
the prior written consent of the Indemnifying Party. If the Indemnifying Party assumes the defense of a Third-Party Claim, no compromise
or settlement of the Third-Party Claim may be effected by the Indemnifying Party without the Indemnified Party’s consent (which
consent shall not be unreasonably withheld, conditioned or delayed). In the event the Indemnifying Party does not elect to assume control
of the Third-Party Claim or otherwise is not entitled to control such Third-Party Claim in accordance with this Section 6.4, the
Indemnified Party shall have the right, but not the obligation, thereafter to defend, contest or otherwise protect against the same and
make any compromise or settlement thereof and recover the entire cost thereof from the Indemnifying Party including, without limitation,
reasonable attorneys’ fees, disbursements and all amounts paid as a result of such Third-Party Claim or the compromise or settlement
thereof. Notwithstanding the foregoing, the Indemnified Party may not compromise or settle any Third-Party Claim without the prior written
consent of the Indemnifying Party (such consent not to be unreasonably withheld, delayed or conditioned).

 

Section 6.5 Tax Treatment of Indemnification
Payments. All indemnification payments made under this Agreement shall be treated by the parties as an adjustment to the Purchase
Price for tax purposes, unless otherwise required by law.

 

ARTICLE VII TERMINATION

 

Section 7.1 Termination. This Agreement may be terminated at
any time prior to the Closing:

 

(a)                by
the mutual written consent of Seller and Buyer;

 

(b)                by Buyer by written notice to Selle rif:

 

(i)        Buyer
is not then in material breach of any provision of this Agreement and there has been a material breach, inaccuracy in or failure to perform
any representation, warranty, covenant or agreement made by Seller pursuant to this Agreement that would give rise to the failure of any
of the conditions specified in Article I and such breach, inaccuracy or failure cannot be cured by Seller by August 20, 2021 (the "Drop
Dead Date"); or

 

(i)       any
of the conditions set forth in Article I shall not have been fulfilled by the Drop Dead Date, unless such failure shall be due
to the failure of Buyer to perform or comply with any of the covenants, agreements or conditions hereof to be performed or complied with
by it prior to the Closing;

 

(c)                by
Seller by written notice to Buyer if:

 

(i)       Seller
is not then in material breach of any provision of this Agreement and there has been a material breach, inaccuracy in or failure to perform
any representation, warranty, covenant or agreement made by Buyer pursuant to this Agreement that would give rise to the failure of any
of the conditions specified in Article I and such breach, inaccuracy or failure cannot be cured by Buyer by the Drop Dead Date; or

 

 

    	 	8	 

     

    

 

(i)       any
of the conditions set forth in Article I shall not have been fulfilled by the Drop Dead Date, unless such failure shall be due to the
failure of Seller to perform or comply with any of the covenants, agreements or conditions hereof to be performed or complied with by
it prior to the Closing; or

 

(d)                by Buyer or Seller in the event that:

 

(i)       there
shall be any law that makes consummation of the transactions contemplated by this Agreement illegal or otherwise prohibited; or

 

(i)       any
Governmental Authority shall have issued a governmental order restraining or enjoining the transactions contemplated by this Agreement,
and such governmental order shall have become final and non-appealable.

 

Section 7.2 Effect of Termination. In the
event of the termination of this Agreement in accordance with this Article, this Agreement shall forthwith become void and there shall
be no liability on the part of any party hereto.

 

ARTICLE VIII
MISCELLANEOUS

 

Section 8.1 Notification of OTC Markets Group,
Inc. and Nevada Secretary of State. Upon Closing, Seller shall cooperate with Buyer in notifying the state of Nevada, OTC Markets
Group, Inc. and the markets generally of the change in control of the Company.

 

Section 8.2 Confidentiality. Each party
hereto agrees with the other party that, unless and until the transactions contemplated by this Agreement have been consummated, they
and their representatives will hold in strict confidence all data and information obtained with respect to another party or any subsidiary
thereof from any representative, officer, director or employee, or from any books or records or from personal inspection, of such other
party, and shall not use such data or information or disclose the same to others, except: (i) to the extent such data is a matter of public
knowledge or is required by law to be published; and (ii) to the extent that such data or information must be used or disclosed in order
to consummate the transactions contemplated by this Agreement. The parties agree and acknowledge that the Company shall be entitled to
file a Current Report on Form 8-K disclosing the terms and conditions of this Agreement, including without limitation, attaching the full
copy of this agreement as an exhibit to such Current Report.

 

Section 8.3 Third Party Beneficiaries.
This contract is among Seller, Buyer and the Company. Except for the shareholders of the Company, no other person or entity shall be deemed
to be a third-party beneficiary of this Agreement.

 

Section 8.4 Amendment or Waiver. Every
right and remedy provided herein shall be cumulative with every other right and remedy, whether conferred herein, at law, or in equity,
and may be enforced concurrently herewith, and no waiver by any party of the performance of any obligation by the other shall be construed
as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing. At any time prior to the Closing
Date, this Agreement may be amended by a writing signed by all parties hereto, with respect to any of the terms contained herein, and
any term or condition of this Agreement may be waived or the time for performance hereof may be extended by a writing signed by the

 

party or parties for whose benefit the provision is intended.

 

Section 8.5 Entire Agreement. This Agreement
constitutes the entire agreement between the parties hereto and supersedes all prior agreements and discussions between Buyer and Seller.
No waiver of any of the provisions of this Agreement will be deemed to constitute a waiver of any other provisions hereof. This Agreement
may be executed by the parties hereto in separate counterparts, each of which will be deemed to be one and the same instrument.

 

Section 8.6 Headings; Context. The headings
of the sections and paragraphs contained in this Agreement are for convenience of reference only and do not form a part hereof and in
no way modify, interpret or construe the meaning of this Agreement.

 

 

 

    	 	9	 

     

    

 

Section 8.7 Waiver of Jury Trial. ALL PARTIES
HEREBY WAIVE THEIR RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS AGREEMENT OR ANY DOCUMENT OR INSTRUMENT DELIVERED
HEREUNDER.

 

Section 8.8 Execution Knowing and Voluntary.
In executing this Agreement, the parties severally acknowledge and represent that each: (a) has fully and carefully read and considered
this Agreement; (b) has been or has had the opportunity to be fully apprised by its attorneys of the legal effect and meaning of this
document and all terms and conditions hereof; and (c) is executing this Agreement voluntarily, free from any influence, coercion or duress
of any kind.

 

Section 8.9 Brokers and Finders. Each of
Buyer and Seller shall be liable for its own finder’s fee, or any other type of fee related to the sale contemplated by this Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

 

 

    	 	10	 

     

    

 

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

 

Seller
Chuah Su Mei Buyer Silver Glory Group Limited Company Tianci International, Inc.

 

 

 

 

    	 	11Document

Exhibit 10.2

AMENDED AND RESTATED 
EXECUTIVE EMPLOYMENT AGREEMENT
(this “Agreement”)
BETWEEN:
CRONOS USA CLIENT SERVICES LLC
(the “Company”)
- and -
TODD ABRAHAM
(the “Executive”)
- and –
solely for the purposes specified herein,
CRONOS GROUP INC.
(“Cronos Group”) and
solely for the purposes specified herein,
HORTICAN INC.
(“Hortican”)
WHEREAS the Company is a wholly-owned subsidiary of Cronos Group;
WHEREAS the Executive previously entered into an employment agreement with Hortican, another wholly owned subsidiary of Cronos Group, in July 2019, which the parties considered to be operational (the “Original Agreement”);
WHEREAS, in January 2020, Hortican assigned the Executive’s employment to the Company pursuant to Section 8.9 of the Original Agreement;
WHEREAS the Executive is currently employed by the Company in the position of Chief Innovation Officer;
WHEREAS, effective June 1, 2021 (the “Effective Date”), the Company and the Executive wish to amend and restate the Original Agreement as set forth herein;
WHEREAS the Executive will continue to have extensive access to the customers, vendors, suppliers, distribution processes and other unique and valuable confidential information and trade secrets

of the Company, Cronos Group, and their respective affiliates (excluding Altria Group, Inc. and its subsidiaries) and related entities (together, the “Group”);
AND WHEREAS the Executive acknowledges that this Agreement, including, without limitation, the proprietary rights, confidentiality, non-solicitation and non-competition provisions that form part of this Agreement are essential to protect the legitimate business interests of the Group;
NOW THEREFORE in consideration of the above, the mutual covenants and agreements set forth in this Agreement, and other good and valuable consideration, including without limitation the increased Base Salary (as defined at Section 5.1 below), target bonus opportunity (as set out at Section 5.2 below), and target incentive opportunity (as set out at Section 5.3 below), the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive (together, the “Parties”), and solely for the purposes of Section 5.3 herein, Cronos Group, and solely for the purposes of Section 8.14 herein, Hortican, agree as follows.
1.Position
1.1The Executive will continue be employed in the position of Chief Innovation Officer.
2.Location
2.1The Executive shall be based primarily from the Executive’s home office. During the term of the Executive’s employment with the Company, the Executive’s principal place of residence shall remain in the United States. The Executive will be available for business travel as reasonably required to perform the Executive’s duties hereunder.
3.Work Authorizations
3.1It is a condition of this Agreement and the Executive’s employment that the Executive shall be able to work lawfully in Canada and the United States. However, it is understood and agreed that the Executive’s position may require that the Executive work abroad, as needed by the Company. The Executive’s employment with the Company is therefore also conditional upon the securing of all necessary visas, work permits and other authorizations that may be required to enter and/or to work in any of the countries in which the Executive may be assigned to work or visit during the term of employment. The Company shall provide reasonable assistance in respect of immigration matters. Despite such assistance, the Company cannot guarantee when or whether the Executive’s application for a work permit, visa, permanent residence status or other immigration status or documents will be approved. Should the necessary authorizations that permit the Executive to legally work in Canada, the United States, or in any other jurisdiction in which the Executive will be required to work not be obtained, this Agreement shall be null and void and of no force or effect. At any time, should necessary authorizations that permit the Executive to legally work in Canada, the United States, or any other jurisdiction in which the Executive will be required to work or visit expire without the possibility of renewal, the Executive’s employment shall come to an end and shall be treated by the Company as a termination without Just Cause (as defined below).
4.Employment Duties
4.1The Executive shall perform such duties and exercise such powers as are normally associated with or incidental and ancillary to the Executive’s position and as may be assigned to the
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Executive from time to time. In fulfilling the Executive’s duties to the Company, the Executive shall be instructed by and shall regularly report to the Chief Executive Officer of Cronos Group (the “CEO”). The Executive’s duties, hours of work, location of employment and reporting relationships may be adjusted from time to time by the Company to meet changing business and operational needs. Without limiting the foregoing, the Executive shall
(a)devote the Executive’s full working time and attention during normal business hours and such other times as may be reasonably required to the business and affairs of the Company and shall not, without the prior written consent of the CEO, undertake any other business or occupation or public office;
(b)perform those duties that may be assigned to the Executive diligently, honestly, and faithfully to the best of the Executive’s ability and in the best interest of the Company;
(c)abide by all Company policies, as instituted and amended from time to time including but not limited to, the applicable Cronos Group Employee Handbook;
(d)use best efforts to promote the interests and goodwill of the Company and not knowingly do, or permit to be done, anything which may be prejudicial to the Company’s interests, it being understood and agreed that the Executive is a fiduciary of the Company and owes fiduciary obligations to the Company that are not extinguished by this Agreement; and
(e)identify and immediately report to the CEO any gross misrepresentations or violations of any Group policy or applicable law by the Company or its management.
5.Compensation and Benefits
5.1Base Salary. As of the Effective Date, the Company shall pay the Executive an annual base salary of US$240,000, less applicable deductions and withholdings (the “Base Salary”). The Base Salary shall be paid by direct deposit on a bi-weekly basis (as may be amended from time to time), in accordance with the Company’s payroll practices. Any changes to Base Salary shall be at the sole discretion of the Company.
5.2Annual Performance Bonus. In addition to the Base Salary, the Executive shall be eligible to participate in the Company’s annual cash bonus plan as may be in effect from time to time, and to receive an annual bonus, subject to the terms and conditions of that plan as determined by the Company at its sole discretion. The Executive’s annual target bonus opportunity shall initially be 100% of Base Salary, provided that the actual bonus amount, if any, will be determined pursuant to the terms of the applicable annual bonus plan. Nothing in this Agreement guarantees that the Company will maintain an annual bonus plan, and the Company reserves the right to amend or terminate any annual bonus plan established or adopted at any time, without notice or further obligation (subject only to the minimum requirements of applicable legislation, if any). The Executive must be actively employed by the Company on the applicable payment date in order to be eligible for any annual bonus for that year, subject only to the minimum requirements of applicable legislation, unless provided otherwise pursuant to the applicable annual cash bonus plan. For certainty, if the Executive’s employment is terminated by the Company with or without Just Cause, or the Executive resigns or otherwise terminates employment for any reason, the Executive will cease to be “actively employed” on the last day of employment as specified in the Company’s or the Executive’s written notice of termination, as applicable, will not be considered “actively employed” during any period of notice, pay in lieu of notice, or severance pay, and will not be entitled to an annual bonus (or any part thereof) or damages in lieu of the Executive’s
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eligibility for a bonus, subject only to the minimum requirements of applicable legislation or unless provided otherwise pursuant to the applicable annual cash bonus plan. There shall be no guarantee of a bonus in any given year.
5.3Long-Term Incentive Opportunity. The Executive shall be eligible to receive annual grants of equity-based awards over shares of Cronos Group with an initial target incentive opportunity of US$300,000 (based on the grant date fair value of such awards), provided that the actual amount, if any, of the grants shall be determined by the board of directors of Cronos Group (the “Board”) at its sole discretion. Any such equity-based grants shall be governed by the terms and conditions of the equity award plan or any other applicable plan of Cronos Group and/or the applicable award agreement. Such plan or plans may be amended from time to time at Cronos Group’s sole discretion. In the event of the cessation of the Executive’s employment for any reason, the Executive’s entitlements in respect of any equity-based awards shall be governed by the terms and conditions of the applicable equity award plan, any other applicable plan and the applicable award agreement. Subject to the express minimum requirements of applicable legislation, if any, the Executive shall not be eligible for any further grants of equity-based awards following the effective date of termination or damages in lieu thereof, regardless of any applicable notice period, pay in lieu of notice, severance payment or similar amount.
5.4Group Insured Benefits. The Executive shall be eligible to participate in the benefits programs of the Company, as applicable, for health and dental, life insurance, disability and other benefits as may be available to the employees of the Company from time to time, subject to the terms and conditions of the applicable plan document. The Company reserves the right to alter, amend or discontinue all benefits, coverages, plans and programs referred to in this paragraph, without advance notice or other obligation, subject only to the minimum requirements of applicable legislation.
5.5Vacation. The Executive shall be eligible for four weeks’ paid vacation per year. The Executive shall take vacation time at such times as are approved in advance by the Company in accordance with the policies of the Company, as applicable. Vacation shall be accrued in accordance with the vacation policy of the Company.
5.6Business Expenses. The Executive shall be reimbursed for all reasonable travel and other out-of- pocket expenses properly incurred by the Executive from time to time in connection with performance of the Executive’s duties. The Executive shall furnish to the Company on a monthly basis and in accordance with any of the Company’s policies or procedures for expense reimbursement all invoices or statements in respect of expenses for which the Executive seeks reimbursement.
5.7Clawback Policy; Share Ownership Guidelines. The Executive agrees and acknowledges that any annual, long-term or other cash, equity or equity-based incentive or bonus compensation paid, provided or awarded to the Executive is subject to the terms and conditions of any clawback or recapture policy that Cronos Group may adopt from time to time, and may be subject to the requirement that such compensation be repaid to the Company after it has been distributed to Executive. In addition, by virtue of the Executive’s position with the Company, the Executive will be subject to Cronos Group’s executive share ownership guidelines, as it may be amended from time to time. The current executive share ownership guidelines require that the Executive own Cronos Group equity equal to at least two times the Executive’s annual base salary by the fifth anniversary of the effective date of the Original Agreement and thereafter during the term of the Executive’s employment with the Company.

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5.8Deductions and Withholdings. The Company shall make such deductions and withholdings from the Executive’s remuneration and any other payments or benefits provided to the Executive pursuant to this Agreement as may be required by law.
6.Termination of Employment
6.1Termination by the Executive. The Executive may terminate his employment with the Company at any time by providing the Company with at least three months of notice in writing. If, upon receipt of the Executive’s resignation (or any later date during such notice period), the Company terminates the Executive’s employment before the date the resignation was to be effective, the Company shall, in full satisfaction of its obligations to the Executive: (a) pay the Executive’s Base Salary and vacation pay accrued until the date the resignation was to be effective up to a maximum of three months; (b) reimburse the outstanding expenses properly incurred by the Executive until the date the Executive’s employment ceases; and (c) provide the Executive with such other compensation and benefits that are expressly required pursuant to applicable legislation, if any. In such circumstances the Executive shall be ineligible for any pro- rated bonus for the year of termination, and any entitlements in respect of any equity-based awards shall be governed by the terms and conditions of the applicable equity award plan, any other applicable plan and the applicable award agreement.
6.2Termination by the Company for Just Cause or on Death or Disability. The Company may terminate the Executive’s employment at any time for Just Cause without prior notice or in the event of the Executive’s death or Disability (as defined below). On the termination of the Executive’s employment for Just Cause or on the Executive’s death or Disability, this Agreement and the Executive’s employment shall terminate and the Company shall, in full satisfaction of its obligations to the Executive: (a) pay the Executive’s Base Salary and vacation pay accrued until the date the Executive’s employment ceases; (b) reimburse the outstanding expenses properly incurred by the Executive until the date the Executive’s employment ceases; and (c) provide the Executive with such other compensation and benefits that are expressly required pursuant to applicable legislation, if any. In such circumstances the Executive shall be ineligible for any pro- rated bonus for the year of termination, and any entitlements in respect of equity-based awards shall be governed by the terms and conditions of the applicable equity award plan, any other applicable plan and the applicable award agreement. For the purposes of this Agreement, (A) “Just Cause” means: (i) any act or omission constituting “just cause” for dismissal without notice under applicable law; (ii) the Executive’s repeated failure or refusal to perform the Executive’s principal duties and responsibilities after notice from the CEO or other officer of the Company; (iii) misappropriation of the funds or property of the Company; (iv) use of alcohol or drugs in violation of the Company’s policies on such use or that interferes with the Executive’s obligations under this Agreement, continuing after a single warning (subject to the Company’s obligations under applicable human rights legislation); (v) the indictment, arrest or conviction in a court of law for, or the entering of a plea of guilty to, a summary or indictable offence or any crime involving moral turpitude, fraud, dishonesty or theft (subject to the Company’s obligations under applicable human rights legislation); (vi) the misuse of Company computers or computer network systems for non-Company business; (vii) engaging in any act (including, without limitation, an act of sexual harassment as determined by the Company) which is a violation of any law, regulation or Company policy; or (viii) any wilful or intentional act which injures or could reasonably be expected to injure the reputation, business or business relationships of the Company, and (B) “Disability” means a physical or mental incapacity of the Executive that has prevented the Executive from performing the duties customarily assigned to the Executive for 180 calendar days, whether or not consecutive, out of 

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any twelve consecutive months and that in the opinion of the Company, acting on the basis of advice from a duly qualified medical practitioner, is likely to continue to a similar degree.
6.3Termination by the Company without Just Cause or Resignation for Good Reason on Change of Control. The Company may terminate the Executive’s employment at any time without Just Cause, on providing thirty days’ written notice to the Executive. The Executive may resign the Executive’s employment for Good Reason (as defined below) within twenty-four months of the occurrence of a Change in Control (as defined below), on providing thirty days’ written notice to the Company. If: (i) the Company terminates the Executive’s employment without Just Cause, or (ii) if the Executive resigns his employment for Good Reason within twenty-four months of the occurrence of a Change of Control, and in each case if the Executive signs and delivers and does not revoke a release in favour of the Group pursuant to the form customarily used by the Group and on the timing set forth therein in consideration of amounts (including, for the avoidance of doubt, under clause (e) below) in excess of the Executive’s minimum entitlements under applicable legislation, the Company, shall, in full satisfaction of its obligations to the Executive:
(a)pay the Executive’s Base Salary and accrued but unpaid vacation pay in accordance with applicable legislation;
(b)reimburse the Executive’s expenses properly incurred until the date the Executive’s employment ceases;
(c)in lieu of notice, pay the Executive the greater of (i) one month of the Executive’s annual base salary in effect at the time of termination for each completed year of service with the Group, to a maximum of twelve months of base salary, payable by way of lump sum payment within sixty days following such termination, and (ii) the minimum termination pay and severance pay entitlements of the Executive pursuant to applicable legislation, if any;
(d)continue the Executive’s group insured benefits, if any, until the end of the notice period calculated under (c) above or the date on which the Executive obtains alternate benefit coverage, whichever occurs first, subject to the terms and conditions of the benefit plans, as amended from time to time, and the minimum requirements of applicable legislation, if any. If the Company is unable for any reason to continue its contributions to the benefit plans as set out in this Agreement, it shall pay the Executive an amount equal to the Company’s required contributions to such benefit plans on behalf of the Executive for such period. The Executive agrees that he is required to notify the Company when he obtains alternate life, medical and dental benefit coverage; and
(e)determine the Executive’s entitlements in respect of equity-based awards in accordance with the terms and conditions of the applicable equity award plan, any other applicable plan and the applicable award agreement.
If the Executive does not sign and deliver to the Company the release in favour of the Group described above, or if the Executive revokes the foregoing release, the Company shall only provide the Executive with such compensation (including any Base Salary and accrued but unpaid vacation pay, termination pay and severance pay) and benefits that are expressly required pursuant to applicable legislation, if any.
In this Agreement, “Change of Control” means:

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(a)the consummation of any transaction or series of transactions including any reorganization, recapitalization, statutory share exchange, consolidation, amalgamation, arrangement, merger or issue of voting shares in the capital of Cronos Group, the result of which is that any individual, corporation (including not-for-profit), general or limited partnership, limited liability company, joint venture, association, joint-stock company, estate, trust, organization, governmental authority or other entity of any kind or nature (“Person”) or group of Persons acting jointly or in concert for purposes of such transaction or series of transactions becomes the beneficial owner, directly or indirectly, of more than 50% of the voting securities in the capital of the entity resulting from such transaction or series of transactions or the entity that acquired all or substantially all of the business or assets of Cronos Group in a transaction or series of transactions described in paragraph (ii) below (in each case, the “Surviving Company”) or the ultimate parent entity that has beneficial ownership of sufficient voting power to elect a majority of the board of directors (or analogous governing body) of the Surviving Company (the “Parent Company”), measured by voting power of the outstanding voting securities eligible to elect members of the board of directors (or the analogous governing body) of the Parent Company (or, if there is no Parent Company, the Surviving Company) rather than number of securities (but shall not include the creation of a holding company or other transaction that does not involve any substantial change in the proportion of direct or indirect beneficial ownership of the voting securities of Cronos Group prior to the consummation of the transaction or series of transactions), provided that the exercise by Altria Summit LLC (or any of its affiliates) of the Purchased Warrant (as defined in the Subscription Agreement by and among Cronos Group Inc., Altria Summit LLC and Altria Group, Inc. dated as of December 7, 2018 as may be amended or otherwise modified from time to time in accordance with its terms) shall not constitute a Change of Control pursuant to this clause (a);
(b)the direct or indirect sale, transfer or other disposition, in one or a series of transactions, of all or substantially all of the business or assets of Cronos Group, taken as a whole, to any person or group of persons acting jointly or in concert for purposes of such transaction or series of transactions (other than to any affiliates of Cronos Group); or
(c)Incumbent Directors during any consecutive twelve month period ceasing to constitute a majority of the Board of Cronos Group (for the purposes of this paragraph, an “Incumbent Director” shall mean any member of the Board who is a member of the Board immediately prior to the occurrence of a contested election of directors of Cronos Group).
In this Agreement, “Good Reason” means the occurrence of any of the following events without the Executive’s consent, except in each case for any isolated, immaterial or inadvertent action not taken in bad faith and which is remedied by the Company within thirty days after a written notice thereof by the Executive (provided that such notice must be given to the Company within sixty days of Executive becoming aware of such condition):
(a)the assignment to the Executive of duties materially different than the duties assigned to the Executive hereunder;
(b)a material diminution in the Executive’s title, status, seniority, reporting relationship, responsibilities or authority; or
(c)a material reduction in the Executive’s Base Salary.
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6.4Resignation on Termination. The Executive agrees that upon any termination of employment with the Company for any reason the Executive shall immediately tender resignation from any position the Executive may hold as an officer or director of the Company and take all steps necessary to remove Executive from any and all designated positions under any applicable laws, including without limitation, the Cannabis Act (Canada) and the regulations thereunder, as the same may be amended from time to time, or any subsidiary or affiliate of the Company. In the event that the Executive fails to comply with this obligation within three days of the Executive's termination or resignation, the Executive hereby irrevocably authorizes the Company to appoint a Person in the Executive's name and on the Executive's behalf to sign or execute any documents and/or do all things necessary or requisite to give effect to such resignation.
6.5Compliance with Laws. The Executive understands and agrees that the entitlements under this Section 6 are provided in full satisfaction of the Executive’s entitlements to notice of termination, pay in lieu of notice, and severance pay, if any, under applicable legislation, this Agreement, any employee benefit plan sponsored or maintained by the Group, applicable law (including the common law) or otherwise.
7.Restrictive Covenants
7.1Non-Disclosure. The Executive acknowledges and agrees that:
(a)during the term of the Executive’s employment, the Executive may be given access to or may become acquainted with confidential and proprietary information of the Company and its affiliates and related entities and third parties to which the Group may have any obligations of non-disclosure or confidentiality, including but not limited to: trade secrets; know-how; Intellectual Property (as defined below); Employee Inventions (as defined below), Invention Records (as defined below), existing and contemplated work product resulting from or related to projects performed or to be performed by or for the Group; programs and program modules; processes; algorithms; design concepts; system designs; production data; test data; research and development information; information regarding the acquisition, protection, enforcement and licensing of proprietary rights; technology; joint ventures; business, accounting, engineering and financial information and data; marketing and development plans and methods of obtaining business; forecasts; future plans and strategies of the Group; pricing, cost, billing and fee arrangements and policies; quoting procedures; special methods and processes; lists and/or identities of customers, suppliers, vendors and contractors; the type, quantity and specifications of products and services purchased, leased, licensed or received by the Group and/or any of its customers, suppliers, or vendors; internal personnel and financial information; business and/or personal information about any senior staff members of the Group or any Person with which the Company enters a strategic alliance or any other partnering arrangements; vendor and supplier information; the manner and method of conducting the Group’s business; the identity or nature of relationship of any persons or entities associated with or engaged as consultants, advisers, agents, distributors or sales representatives (the “Confidential Information”) the disclosure of any of which to competitors of the Group or to the general public, or the use of same by the Executive or any competitor of the Group, would be highly detrimental to the interests of the Company;
(b)disclosure or use of Confidential Information, other than in connection with the Group’s business or as specifically authorized by the Group, will be highly detrimental to the business and interests of the Group and could result in serious loss of business and damage to it. 
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Accordingly, the Executive specifically agrees to hold all Confidential Information in strictest confidence, and the Executive agrees that the Executive shall not, without the Company’s prior written consent, disclose, divulge or reveal to any person, or use for any purpose other than for the exclusive benefit of the Company, any Confidential Information, in whatever form contained; provided that the foregoing shall not apply to information (except for personal information about identifiable individuals) that: (i) was known to the public prior to its disclosure to the Executive; (ii) becomes generally known to the public subsequent to disclosure to the Executive other than by reason of the Executive’s breach of this Section; (iii) becomes available to the Executive from a source independent of the Group; or (iv) the Executive is specifically required to disclose by applicable law or legal process (provided that the Executive provides the Company with prompt advance written notice of the contemplated disclosure and cooperates with the Company in seeking a protective order or other appropriate protection of such information);
(c)the Executive shall deliver to the Company, immediately upon termination of employment (for any reason and regardless of whether the Executive or the Company terminate the employment) or at any time the Company so requests: (i) any and all documents, files, notes, memoranda, models, databases, computer files and/or other computer programs reflecting any Confidential Information whatsoever or otherwise relating to the Group’s business; (ii) lists or other documents regarding customers, suppliers, or vendors of the Group or leads or referrals to prospective business deals; and (iii) any computer equipment, home office equipment, automobile or other business equipment belonging to the Group that the Executive may then possess or have under the Executive’s control; and
(d)for the avoidance of doubt, nothing in this Agreement limits, restricts or in any other way affects the Executive communicating with any governmental authority or entity concerning matters relevant to the governmental authority or entity. The Executive and the Company agree that no confidentiality or other obligation the Executive owes to the Group prohibits the Executive from reporting possible violations of law or regulation to any governmental authority or entity under any applicable whistleblower protection provision of applicable Canadian, U.S. Federal or U.S. State law or regulation (including Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes- Oxley Act of 2002) or requires the Executive to notify the Company of any such report. The Executive is hereby notified that the immunity provisions in Section 1833 of title 18 of the United States Code provide that an individual cannot be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made (i) in confidence to federal, state or local government officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or investigating a suspected violation of the law, (ii) under seal in a complaint or other document filed in a lawsuit or other proceeding, or (iii) to the Executive’s attorney in connection with a lawsuit for retaliation for reporting a suspected violation of law (and the trade secret may be used in the court proceedings for such lawsuit) as long as any document containing the trade secret is filed under seal and the trade secret is not disclosed except pursuant to court order.
7.2Intellectual Property
(a)In this Section 7.2, the term “Germplasm” means any living or preserved biological tissue or material which may be used for the purpose of plant breeding and/or propagation, including,
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without limitation, plants, cuttings, seeds, clones, cells, tissues, plant materials and genetic materials (including, without limitation, nucleic acids, genes, promoters, reading frames, regulatory sequences, terminators, chromosomes whether artificial or natural and vectors).
(b)For the purposes of this Agreement, “Intellectual Property” means any and all intellectual property rights and proprietary rights existing in any jurisdiction throughout the world, including any rights in or to: (i) patents, patent applications, patent rights, inventions, industrial designs, industrial design applications, industrial design rights, ideas, discoveries and invention disclosures (whether or not patentable), and any divisionals, continuations, continuations-in-part, reissues, renewals, reexaminations and extensions of any of the foregoing; (ii) trademarks, service marks, trade names, trade dress, logos, packaging designs, slogans, other indicia of source, Internet domain names and URLs, and registrations and applications for registration of any of the foregoing and any renewals thereof, together with any goodwill symbolized thereby; (iii) copyrightable works (including with respect to software and compilations of data), whether published or unpublished, including all copyrights, copyright registrations and applications; (iv) trade secrets, and confidential or proprietary information, data or database rights, know- how, techniques, designs, processes, recipes and formulas; (v) Germplasm, plant varieties, and applications and registrations for plant varieties issued by or pending before any Governmental Authority, including under the Plant Variety Protection Act (United States) or the Plant Breeders’ Rights Act (Canada); and (vi) circuit topographies, database rights and software.
(c)The Executive agrees to promptly disclose to the Company (including, without limitation, to the Executive’s manager) all Intellectual Property, including with respect to, but without limitation, Germplasm, and whether or not any of the foregoing are registrable, which the Executive may author, make, conceive, develop, discover or reduce to practice, solely, jointly or in common with other employees, during the Executive’s employment with the Company, and which relate to the business activities of the Company or any of its affiliates (“Employee Inventions”). The Executive agrees to maintain as confidential any Employee Inventions unless and until made generally public by the Company, and not to make application for registration of rights in respect of any Employee Inventions unless it is at the request and direction of the Company. Intellectual Property coming within the scope of the business of the Company made and/or developed by the Executive while in the employ of the Company, whether or not conceived or made during regular working hours and whether or not the Executive is specifically instructed to make or develop the same, shall be for the benefit of the Company and shall be considered to have been made pursuant to this Agreement and shall be deemed Employee Inventions and shall immediately become exclusive property of the Company. The Executive must keep, maintain and make available to the Company complete and up-to-date records relating to any such Intellectual Property, and agree that all such records are the sole and absolute property of the Company.
(d)The Executive further acknowledges that all Employee Inventions are “work made for hire” (to the greatest extent permitted by applicable Law) owned exclusively by the Company and that the Executive has been compensated for such Employee Inventions by the Executive’s salary, commissions and other benefits, unless regulated otherwise by Law. To the extent such Employee Inventions are not “work made for hire” or otherwise not owned automatically and exclusively by the Company as a matter of Law, then to the greatest extent permitted under by applicable Law, the Executive hereby irrevocably assigns and transfers, and shall assign and 
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transfer, to the Company, the Executive’s entire right, title and interest in and to any and all Employee Inventions, and the Executive agrees to execute and deliver to the Company any and all instruments necessary or desirable to accomplish the foregoing and, in addition, to do all lawful acts which may be necessary or desirable to assist the Company to obtain and enforce protection of Employee Inventions. If and to the extent the foregoing assignment cannot be effected as a matter of law with respect to any Employee Inventions, the Executive hereby grants to the Company an exclusive, perpetual, fully-paid, royalty-free, irrevocable, worldwide, fully-transferable, fully sublicensable (on multiple levels) license to use, modify, display, perform, make, have made, copy, make derivative works, import, export, distribute and otherwise exploit such Employee Inventions for any purpose. The Executive shall, at the request and cost of the Company, and for no additional compensation or consideration from the Company, sign, execute, make and do all such deeds, documents, acts and things as the Company and its duly authorized agents may reasonably require: (i) to apply for, obtain and vest in the name of the Company alone (unless the Company otherwise directs) registered rights in any Employee Inventions, including any patents, industrial designs, letters patent, copyrights, plant breeders’ rights, trademarks, service marks or other analogous protection in any country throughout the world and when so obtained or vested to renew and restore the same; (ii) to perfect or evidence ownership by the Company or its designees of any and all Employee Inventions, in form suitable for recordation in the United States, Canada and any other intellectual property office anywhere in the world; (iii) to defend any opposition proceedings of any type whatsoever in respect of such applications, and any opposition proceedings or petitions or applications of any type whatsoever for revocation of such Employee Inventions, whether such proceedings are brought before a court or any administrative body; (iv) to defend and/or assert the Company’s rights in any Intellectual Property against any third party; and (v) to assert the Executive’s moral rights in any Intellectual Property against any third party. For greater certainty, all materials related to Employee Inventions (including, without limitation, notes, records and correspondence, whether written or electronic) (collectively, “Invention Records”) are the property of the Company, which the Executive shall provide to the Company upon request. Invention Records shall not be removed from Company premises without the prior written consent of the Company. The Executive further waives all moral rights in and to any Employee Inventions and all work the Executive produced during the course of the Executive’s employment in favor of the Company, its licensees, successors and assigns, and transferees of the Employee Inventions and such work
(e)In the course of performing duties pursuant to this Agreement, the Executive shall only use Germplasm provided by the Company, and the Executive agrees that any such Germplasm provided by the Company remains the sole property of the Company and that such Germplasm shall not be removed from Company premises without the prior written consent of the Company.
(f)The Executive represents and warrants that the Executive does not possess any Intellectual Property or Germplasm of any third party, including, without limitation, any prior employer or competitor of the Company, and the Executive shall not acquire and/or use Intellectual Property or Germplasm of any third party in the course of performing duties pursuant to this Agreement and shall not bring any Germplasm of any third party onto Company premises.
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7.3Non-Competition. The Executive shall not at any time during the Executive’s employment with the Company and for a period of one year following the date of the termination of the Executive’s employment with the Company for any reason, as specified in written notice by the Company or the Executive, as applicable (the “Termination Date”), either individually or in partnership or jointly or in conjunction with any Person as principal, agent, consultant, employee, partner, director, shareholder (other than an investment of less than five per cent of the shares of a company traded on a registered stock exchange or traded in the over the counter market in Canada), or in any other capacity whatsoever:
(a)engage in employment or enter into a contract to do work related to the research into, development, cultivation, production, supply, sales or marketing of cannabis or cannabis derived products; or the development or provision of any services (including, but not limited to, technical and product support, or consultancy or customer services) which relate to cannabis or cannabis derived products (the “Business”); or
(b)have any financial or other interest (including by way of royalty or other compensation arrangements) in or in respect of the business of any Person which carries on the Business; or
(c)advise, lend money to or guarantee the debts or obligations of any Person which carries on the Business;
anywhere within Canada and/or the United States of America.
For purposes of this section, “cannabis” means (a) any plant or seed, whether live or dead, from any species or subspecies of genus Cannabis, including Cannabis sativa, Cannabis indica and Cannabis ruderalis, Marijuana and Industrial Hemp and any part, whether live or dead, of the plant or seed thereof, including any stalk, branch, root, leaf, flower, or trichome; (b) any material obtained, extracted, isolated, or purified from the plant or seed or the parts contemplated by clause (a) of this definition, including any oil, cannabinoid, terpene, genetic material or any combination thereof; (c) any organism engineered to biosynthetically produce the material contemplated by clause (b) of this definition, including any micro-organism engineered for such purpose; (d) any biologically or chemically synthesized version of the material contemplated by clause (b) of this definition or any analog thereof, including any product made by any organism contemplated by clause (c) of this definition; and (e) any other meaning ascribed to the term “cannabis” under applicable Law, including the CDSA and the Cannabis Act.
7.4Non-Solicitation of Customers. The Executive shall not, during the Executive’s employment and for the one year period immediately following the Termination Date, whether alone or for or in conjunction with any Person or entity, whether as an employee, partner, director, principal, agent, consultant or in any other capacity whatsoever, directly or indirectly solicit or attempt to solicit any Customer or Prospective Customer for the purpose of obtaining the business of any Customer or Prospective Customer or persuading any such Customer or Prospective Customer to cease to do business with or reduce the amount of business it would otherwise provide to the Group. For the purpose of this Agreement, “Customer” means any Person which is a current customer or has been a customer of the Group during the term of the Executive’s employment with the Company but in the event of the cessation of the Executive’s employment “Customer” shall include only those current customers of the Group with whom the Executive had direct contact or access to Confidential Information by virtue of the Executive’s role as an employee of the Company at any time during the twelve month period preceding the Termination Date; “direct contact” means direct communications with or by the 
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Executive, whether in Person or otherwise, for purposes of servicing, selling, or marketing on behalf of the Company, but only if such communications are more than trivial in nature, and in any case excluding bulk or mass marketing communications directed to multiple customers; and, “Prospective Customer” means any organization, individual or entity which has been actively contacted and solicited for its business by representatives of the Group, but in the event of the cessation of the Executive’s employment within the twelve month period immediately preceding the Termination Date, with the involvement and knowledge of the Executive.
7.5Non-Solicitation of Employees. The Executive shall not, during the Executive’s employment and for two years following the Termination Date, whether alone or for or in conjunction with any Person or entity, whether as an employee, partner, director, principal, agent, consultant or in any other capacity whatsoever, directly or indirectly solicit or assist in the solicitation of any employee of the Group to leave such employment.
7.6Disclosure. During the Executive’s employment with the Company, the Executive shall promptly disclose to the Board full information concerning any interest, direct or indirect, of the Executive (whether as owner, shareholder, partner, lender or other investor, director, officer, employee, consultant or otherwise) or any member of the Executive’s immediate family, in any business which is reasonably known to the Executive to purchase or otherwise obtain services or products from, or to sell or otherwise provide services or products to the Company or to any of their respective suppliers or Customers.
7.7Other Employment. During the Executive’s employment with the Company, the Executive shall not, except as a representative of the Company or with the prior written approval of the Executive’s manager, whether paid or unpaid, be directly or indirectly engaged, concerned or have any financial interest in any capacity in any other business, trade, professional or occupation (or the setting up of any business, trade, profession or occupation).
7.8Return of Materials. All files, forms, brochures, books, materials, written correspondence (including email and instant messages), memoranda, documents, manuals, computer disks, software products and lists (including financial and other information and lists of customers, suppliers, products and prices) pertaining to the Group which may come into the Executive’s possession or control shall at all times remain the property of the Group. Upon termination of the Executive’s employment for any reason, the Executive agrees to immediately deliver to the Company all such property in the Executive’s possession or directly or indirectly under the Executive’s control. The Executive agrees not to make, for the Executive’s personal or business use or that of any other person, reproductions or copies of any such property or other property of the Group.
7.9Non-Disparagement. Subject to Section 7.1(d) of this Agreement, the Executive shall refrain, both during and after the cessation of the Executive’s employment with the Company, from making, publicly or privately, any statement or announcement that constitutes an ad hominem attack on, or that otherwise disparages, defames, slanders, impugns or is reasonably likely to damage the reputation of the Group, or its or any of their respective directors, members, limited or general partners, equity holders, officers, employees, agents, consultants, advisors or other representatives.
8.General
8.1Reasonableness of Restrictions and Covenants. The Executive hereby confirms and agrees that the covenants and restrictions contained in this Agreement, including, without limitation, those contained 
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in Article 7, are reasonable and valid the Executive further acknowledges and agrees that the Company may suffer irreparable injury in the event of any breach by the Executive of the obligations under any such covenant or restriction. Accordingly, the Executive hereby acknowledges and agrees that damages would be an inadequate remedy at law in connection with any such breach and that the Company shall therefore be entitled, in addition to any other right or remedy which it may have at law, in equity or otherwise, to temporary and permanent injunctive relief enjoining and restraining the Executive from any such breach.
8.2Survival. Article 7 and this Section 8.2 survive the termination of this Agreement and the Executive’s employment for any reason whatsoever.
8.3Entire Agreement. This is the entire agreement between the Parties on the subject matters addressed herein. There are no representations, warranties or collateral agreements, whether written or oral, outside of this written Agreement. This Agreement and the terms and conditions of employment contained herein supersede and replace any prior understandings or discussions between the Parties, including the Original Agreement, regarding the Executive’s employment.
8.4Withholding Taxes. The Company may withhold from any amounts or benefits payable under this Agreement income taxes and payroll taxes that are required to be withheld pursuant to any applicable law or regulation.
8.5Section 409A Compliance. To the extent applicable, this Agreement is intended to comply with the requirements of Section 409A of the United States Internal Revenue Code of 1986, as amended (together with the applicable regulations thereunder, “Section 409A”). To the extent that any provision in this Agreement is ambiguous as to its compliance with Section 409A or to the extent any provision in this Agreement must be modified to comply with Section 409A (including, without limitation, Treasury Regulation 1.409A-3(c)), such provision shall be read, or shall be modified (with the mutual consent of the parties, which consent shall not be unreasonably withheld), as the case may be, in such a manner so that all payments due under this Agreement shall comply with Section 409A. For purposes of Section 409A, each payment made under this Agreement shall be treated as a separate payment. In no event may Executive, directly or indirectly, designate the calendar year of payment. Notwithstanding any provision of this Agreement to the contrary, if necessary to comply with the restriction in Section 409A(a)(2)(B) concerning payments to “specified employees” (as defined in Section 409A) any payment on account of the Executive’s separation from service that would otherwise be due hereunder within six months after such separation shall nonetheless be delayed until the first business day of the seventh month following the Executive’s date of termination and the first such payment shall include the cumulative amount of any payments that would have been paid prior to such date if not for such restriction. Notwithstanding anything contained herein to the contrary, the Executive shall not be considered to have terminated employment with the Company for purposes of this Agreement unless he would be considered to have incurred a “separation from service” from the Company within the meaning of Section 409A.
8.6Amendments. This Agreement may only be amended by written agreement executed by the Parties. However, changes to the Executive’s position, duties, vacation, benefits and compensation, over time in the normal course, do not affect the validity or enforceability of the Agreement.
8.7Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware and the laws of the United States applicable in the State of Delaware. The Company and the Executive each irrevocably consent to the exclusive jurisdiction of the courts of 
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Delaware and the courts of Delaware shall have the sole and exclusive jurisdiction to entertain any action arising under this Agreement.
8.8Severability. If any provision in this Agreement is determined to be invalid or unenforceable, such provision shall be severed from this Agreement, and the remaining provisions shall continue in full force and effect. If for any reason any court of competent jurisdiction will find any provisions of this Agreement unreasonable in duration or geographic scope or otherwise, the Parties agree that the restrictions and prohibitions contained herein will be effective to the fullest extent allowed under applicable law in such jurisdiction.
8.9Assignment. The Company may assign this Agreement to an affiliate or subsidiary, and it enures to the benefit of the Company, its successors or assigns.
8.10Independent Legal Advice. The Executive acknowledges that the Executive has been encouraged to obtain independent legal advice regarding the execution of this Agreement, and that the Executive has either obtained such advice or voluntarily chosen not to do so, and hereby waives any objections or claims the Executive may make resulting from any failure on the Executive’s part to obtain such advice.
8.11Waiver. No waiver of any of the provisions of this Agreement shall be effective or binding, unless made in writing and signed by the party purporting to give the same. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions, whether or not similar, nor shall such waiver constitute a continuing waiver, unless expressly stated otherwise.
8.12Conditions. This Agreement and the Executive’s continued employment hereunder is conditional on the Company’s satisfaction (determined in the Company’s sole discretion) that the Executive has met the legal requirements to perform the Executive’s role, including but not limited to satisfactory results of Health Canada or any other applicable security clearance checks and criminal record checks and other reference checks that the Company performs. The Executive acknowledges and agrees that in signing this Agreement, and providing the Company with the necessary documentation to perform the checks required for the Executive’s role and with references, the Executive is providing consent to the Company or its agent, to performs such checks and contact the references the Executive provided to the Company.
8.13Prior Restrictions. By signing below, the Executive represents that the Executive is not bound by the terms of any agreement with any Person which restricts in any way the Executive’s hiring by the Company and the performance of the Executive’s expected job duties; the Executive also represents that, during the Executive’s employment with the Company, the Executive shall not disclose or make use of any confidential information of any other persons or entities in violation of any of their applicable policies or agreements and/or applicable law.
8.14Resignation from Hortican. Without limiting the generality of Section 8.3 above, by signing below, the Executive confirms that: (i) the Executive voluntarily and irrevocably resigned from his employment with Hortican, and Hortican accepted the Executive resignation, effective as of the date of the assignment of the Original Agreement to, and the start of the Executive’s employment with, Cronos USA; and (ii) the Executive has no rights or entitlements in respect of the cessation of such employment with Hortican, whether pursuant to contract, statute or the common law. For the avoidance of doubt, the Executive’s resignation from his employment with Horitcan does not impact any Cronos Group equity-based awards granted to the Executive before the Effective Date, which remain in full force and effect.
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8.15Counterparts. This Agreement may be executed in one or more counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by electronic transmission, including in portable document format (.pdf), shall be deemed as effective as delivery of an original executed counterpart of this Agreement.
[Signature Page Follows]

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IN WITNESS WHEREOF this Agreement has been executed by the Parties as of this 3rd day of June, 2021.
									
			CRONOS USA CLIENT SERVICES LLC
			
			By:    /s/ Michael Gorenstein           
         Name: Michael Gorenstein
         Title: Executive Chairman

			
			
			CRONOS GROUP INC.
			solely with respect to Section 5.3
			
			By:    /s/ Kurt Schmidt                     
         Name: Kurt Schmidt
         Title: President & CEO

			
			
			HORTICAN INC.
			solely with respect to Section 8.14
			
			By:    /s/ Michael Gorenstein            
         Name: Michael Gorenstein
         Title: Executive Chairman

			
			
			EXECUTIVE
			
			         /s/ Todd Abraham                    
         Name: Todd Abraham

			
			
			
			
	Signed and Returned to Shannon Buggy using electronic signature		
	SIGNED AND DELIVERED in the presence of
		
			
	                                                               		
	Witness Signature		
			
	                                                               		
	Witness Print Name		

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