Document:

Exhibit 4.2

      

      

      Execution Version

      

      

      This FIRST INDENTURE SUPPLEMENT, dated as of April 30, 2021 (this “Indenture Supplement”), is entered into by and among Aphria Inc., a corporation existing under the Business Corporations
        Act (Ontario), as issuer (the “Company”), Tilray, Inc., a Delaware corporation (the “Parent Guarantor”), and GLAS Trust Company LLC, as trustee under the Indenture (together with its successors in such capacity, the “Trustee”),
        supplements the Existing Indenture referred to below. Capitalized terms used but not otherwise defined herein shall have the respective meanings set forth in the Indenture.

      

      

      RECITALS

      

      

      WHEREAS, the Company and the Trustee are parties to that certain Indenture, dated as of April 23, 2019 (as amended, supplemented, restated or otherwise modified from time to time prior to the date
        hereof, the “Existing Indenture” and, as amended by this Indenture Supplement, the “Indenture”), by and between the Company and the Trustee.

      

      

      WHEREAS, on or about the date hereof, the Parent Guarantor will acquire all of the outstanding Common Shares of the Company (the “Combination”) pursuant to that certain Arrangement Agreement
        dated December 15, 2020, between the Company and the Parent Guarantor (as amended by that certain Amendment No. 1 to Arrangement Agreement and Plan of Arrangement dated February 19, 2021, the “Arrangement Agreement”).

      

      

      WHEREAS, pursuant to the terms and conditions of the Arrangement Agreement and subject to the terms and conditions therein, at the effective time of the Combination (the “Effective Time”),
        each Common Share issued and outstanding immediately prior to the Effective Time will be converted into the right to receive 0.8381 of a share of Class 2 common stock, par value $0.0001 per share, of the Parent Guarantor (the “Parent Guarantor
          Common Stock”).

      

      

      WHEREAS, the Combination constitutes a Share Exchange Event under the Indenture.

      

      

      WHEREAS, pursuant to Sections 10.01(i) and 13.07(a) of the Existing Indenture, the Trustee and the Company, without the consent of the Holders, may enter into one or more supplemental indentures in
        connection with any Share Exchange Event, to provide that the Notes are convertible into Reference Property, subject to the provisions of Section 13.02 of the Existing Indenture, and make such related changes to the terms of the Notes to the extent
        expressly required by Section 13.07 of the Existing Indenture.

      

      

      WHEREAS, the Combination does not constitute a Fundamental Change under the Indenture.

      

      

      WHEREAS, the Parent Guarantor wishes to become party to the Indenture as a guarantor in connection with the Combination.

      

      

      WHEREAS, pursuant to Section 10.01(c) of the Existing Indenture, the Trustee and the Company, without the consent of the Holders, may enter into one or more supplemental indentures to add
        guarantees with respect to the Notes.

      

      

      WHEREAS, the Company wishes to amend the Existing Indenture as set forth in this Indenture Supplement, and the Company has requested that the Trustee execute and deliver this Indenture Supplement.

      

      

      WHEREAS, the conditions set forth for entry into a supplemental indenture pursuant to Sections 10.05 and 16.05 of the Indenture have been satisfied.

      

      

      
        
          

      

      

      

      NOW, THEREFORE, in consideration of the mutual agreements herein set forth, the parties agree as follows:

      

      

      I.          Amendments.

      

      

      (a)          In connection with the Combination, the Existing Indenture is hereby amended such that at and after the Effective
          Time “Reference Property” shall mean the Parent Guarantor Common Stock, and “unit of Reference Property” shall mean 0.8381 share of Parent Guarantor Common Stock for each one (1) Common Share outstanding as of immediately prior to the Effective
          Time.

      

      

      (b)          Pursuant to Section 13.07 of the Existing Indenture, as a result of the Combination:

      

      

      (i)          at and after the Effective Time, the right to convert each $1,000 principal amount of Notes shall be changed into a right to convert
          such principal amount of Notes into the number of units of Reference Property equal to the Conversion Rate in effect immediately prior to the Effective Time;

      

      

      (ii)          at and after the Effective Time (1) the Company shall continue to have the right to determine the Settlement Method applicable upon
          conversion of Notes in accordance with Section 13.02 of the Existing Indenture; and (2)(A) any amount payable in cash upon conversion of the Notes in accordance with Section 13.02 of the Existing Indenture shall continue to be payable in cash,
          (B) any Common Shares that the Company would have been required to deliver upon conversion of the Notes in accordance with Section 13.02 of the Existing Indenture shall instead be deliverable in units of Reference Property, and (C) the Daily VWAP
          shall be calculated based on the value of a unit of Reference Property;

      

      

      (iii)          the definitions of “Scheduled Trading Day,” “Trading Day” and “Market Disruption Event” shall be determined by reference to the
          Parent Guarantor Common Stock; and

      

      

      (iv)          the provisions of the Existing Indenture, as modified herein, including without limitation, (1) all references and provisions
          respecting the terms “Common Shares,” “Conversion Price,” “Conversion Rate,” and “Last Reported Sale Price” and (2) the provisions of Article 14 of the Existing Indenture shall continue to apply, mutatis mutandis, to the Holders’ right to convert their respective Notes into the Reference Property.

      

      

      (c)          As and to the extent required by Section 13.07(a) of the Existing Indenture, the Conversion Rate shall be subject to
          anti-dilution and other adjustments with respect to the Reference Property that shall be as nearly equivalent as is possible to the adjustments provided for in Article 13 of the Existing Indenture.

      

      

      (d)          References to the “Company” and to “Common Shares” in the definition of “Fundamental Change” in Section 1.01 of the
          Existing Indenture shall instead be references to the “Parent Guarantor” and the “Parent Guarantor Common Stock,” respectively.  Except as amended hereby, the purchase rights set forth in Article 14 of the Existing Indenture shall continue to
          apply.

      

      

      (e)          The Existing Indenture is hereby amended such that, at and after the Effective Time, subject to the provisions of
          this Section I(e), the Parent Guarantor absolutely, irrevocably and unconditionally guarantees to each Holder and to the Trustee the full and punctual payment (whether at an installment date or the Maturity Date, upon redemption, purchase
          pursuant to an offer to purchase or acceleration or otherwise) of the principal, premium, interest and all other amounts that may come due and payable under each Note and the full and punctual payment of all other amounts payable by the Company
          under the Indenture as they come due. Upon failure by the Company to pay punctually any such amount, the Parent Guarantor shall, without duplication, forthwith pay the amount not so paid at the place and time and in the manner specified in the
          Indenture. This Section I(e) constitutes a direct, general, and unconditional primary obligation of the Parent Guarantor which will at all times rank at least pari passu with all other present and future senior unsecured obligations of the Parent
          Guarantor, except for such obligations as may be preferred by provisions of law that are both mandatory and of general application.

      

      

      (i)          Guaranty Unconditional.  To the extent permitted by applicable law, the
          obligations of the Parent Guarantor under this Section I(e) are unconditional and absolute and, without limiting the generality of the foregoing, will not be released, discharged or otherwise affected by:

      

      

      (1)          any extension, renewal, settlement, compromise, waiver or release in respect of any obligation of
          the Company under the Indenture or any Note, by operation of law or otherwise;

      

      

      
        
          

      

      

      

      (2)          any modification or amendment of or supplement to the Indenture or any Note;

      

      

      (3)          any change in the corporate existence, structure or ownership of the Company, or any insolvency,
          bankruptcy, reorganization, plan of arrangement or other similar proceeding affecting the Company or its assets or any resulting release or discharge of any obligation of the Company contained in the Indenture or any Note;

      

      

      (4)          the existence of any claim, set-off or other rights which any of the Parent Guarantor may have at
          any time against the Company, the Trustee or any other person, whether in connection with the Indenture or any unrelated transactions, provided, that nothing herein prevents the assertion of any such
          claim by separate suit or compulsory counterclaim;

      

      

      (5)          any invalidity or unenforceability relating to or against the Company for any reason of the
          Indenture or any Note, or any provision of applicable law purporting to prohibit the payment by the Company of the principal of or interest on any Note or any other amount payable by the Company under the Indenture;

      

      

      (6)          any other act or omission to act or delay of any kind by the Company, the Trustee or any other
          person or any other circumstance whatsoever which might, but for the provisions of this paragraph, constitute a legal or equitable discharge of or defense to any of the Parent Guarantor’s obligations under this Section I(e); or

      

      

      (7)          any defenses (other than full and unconditional payment) or benefits that may be derived from or
          afforded by law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms of this Section I(e) or the Indenture.

      

      

      (ii)          Discharge Reinstatement.  Subject to Section I(e)(vii), the Parent
          Guarantor’s obligations under this Section I(e) will remain in full force and effect until the principal of, premium (if any), and interest on the Notes and all other amounts payable by the Company under the Indenture have been indefeasibly paid
          in full. If at any time any payment of the principal of, premium, if any, or interest on any Note or any other amount payable by the Company under the Indenture is rescinded or must be otherwise restored or returned upon the insolvency,
          bankruptcy, arrangement or reorganization of the Company or otherwise, the Parent Guarantor’s obligations under this Section I(e) with respect to such payment will be reinstated as though such payment had been due but not made at such time.

      

      

      (iii)          Waiver by the Parent Guarantor.  To the extent permitted by applicable law,
          the Parent Guarantor unconditionally and irrevocably waives acceptance hereof, presentment, demand, protest and any notice not provided for herein, as well as any requirement that at any time any action be taken by any person against the Company
          or any other person. This this Section I(e) constitutes a guarantee of payment and not of collection.

      

      

      (iv)          To the extent permitted by applicable law, the Parent Guarantor expressly waives irrevocably and unconditionally:

      

      

      (1)          Any right it may have to first require any Holder of the Notes to proceed against, initiate any
          actions before a court of law or any other judge or authority, or enforce any other rights or security or claim payment from the Company or any other person (including the Parent Guarantor or any other guarantor) before claiming it under the
          Indenture; and

      

      

      (2)          Any right to which it may be entitled to have the assets of the Company or any other person
          (including any other guarantor) first be used, applied or depleted as payment of the Company’s or the Parent Guarantor’s obligations hereunder, prior to any amount being claimed from or paid by the Parent Guarantor  under this Section I(e).

      

      

      
        
          

      

      

      

      (v)          Subrogation and Contribution.  Upon making any payment with respect to any
          obligation of the Company under this Section I(e), the Parent Guarantor will be subrogated to the rights of the payee against the Company with respect to such obligation; provided, however, that the Parent Guarantor shall not be entitled to enforce, or to receive any payments arising out of or based upon,
          such right of subrogation until the principal of (and premium, if any) interest, additional amounts on all Notes and any other amounts due under the Indenture shall have been paid in full.

      

      

      (vi)          Stay of Acceleration.  If acceleration of the time for payment of any amount
          payable by the Company under the Indenture or the Notes is stayed upon the insolvency, bankruptcy or reorganization of the Company, all such amounts otherwise subject to acceleration under the terms of the Indenture are nonetheless payable by the
          Parent Guarantor forthwith on demand by the Trustee.

      

      

      (vii)          Release of the Parent Guarantor.  The guaranty of the Parent Guarantor under
          this Section I(e) will automatically and unconditionally be released without the need for any action by any party:

      

      

      (1)          upon a liquidation or dissolution of the Parent Guarantor; and

      

      

      (2)          upon payment in full of the aggregate principal amount of all notes then outstanding and all other
          obligations under the Indenture and the notes then due and owing.

      

      

      II.          Governing Law.

      

      

      THIS INDENTURE SUPPLEMENT, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE SUPPLEMENT, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
        THE INTERNAL LAWS OF THE STATE OF NEW YORK.

      

      

      III.          Execution in Counterparts.

      

      

      This Indenture Supplement may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The
        exchange of copies of this Indenture Supplement and of signature pages by facsimile or PDF or other electronic transmission shall constitute effective execution and delivery of this Indenture Supplement as to the parties hereto and may be used in
        lieu of the original Indenture Supplement for all purposes. Signatures of the parties hereto transmitted by facsimile, PDF or other electronic transmission shall constitute effective execution and delivery of this Indenture Supplement as to the
        other parties hereto shall be deemed to be their original signatures for all purposes.

      

      

      IV.          Concerning the Trustee.

      

      

      The recitals contained in this Indenture Supplement shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee shall not be
        responsible or accountable in any way whatsoever for or with respect to the validity, execution or sufficiency of this Indenture Supplement and makes no representation with respect thereto. In entering into this Indenture Supplement, the Trustee
        shall be entitled to the benefit of every provision of the Indenture relating to the conduct of or affecting the liability of or affording protection to the Trustee. For the avoidance of doubt, in connection with this Indenture Supplement, the
        Trustee is entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification and shall have no liability or responsibility for such calculations or any information used in connection with such
        calculations.

      

      

      V.          No Other Changes.

      

      

      Except as explicitly provided herein, the Indenture shall remain unchanged and in full force and effect, and each reference to the Indenture and words of similar import in the Indenture, as amended
        hereby, shall be a reference to the Indenture as amended hereby and as the same may be further amended, supplemented and otherwise modified and in effect from time to time. This Indenture Supplement may be used to create a conformed amended and
        restated Indenture for the convenience of administration by the parties hereto.

      

      

      
        
          

      

      

      

      VI.          Execution, Delivery and Validity.

      

      

      Each of the Company and the Parent Guarantor represents and warrants to the Trustee that this Indenture Supplement has been duly and validly executed and delivered by it and constitutes its legal,
        valid and binding obligation, enforceable against it in accordance with its terms.

      

      

      VII.          Binding Effect.

      

      

      This Indenture Supplement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

      

      

      VIII.          Direction to the Trustee.

      

      

      The Company hereby directs the Trustee to execute this Indenture Supplement and acknowledges and agrees that the Trustee will be fully protected in relying upon the foregoing direction and the
        rights, protections and indemnities afforded the Trustee under the Indenture shall apply to the execution of this Indenture Supplement and any action or inaction in connection herewith.

      

      

      [Signature Page Follows]

      

      

      
        
          

      

      

      

      IN WITNESS WHEREOF, the parties hereto have caused this First Indenture Supplement to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year
        first above written.

      

      

      	 	
              APHRIA INC.,

            
	 	
              as the Company

            
	 	 	 
	 	
              By:

            	/s/ Irwin D. Simon

            
	 	 	
              Name: Irwin D. Simon

            
	 	 	
              Title: President & CEO

              

            
	 	 	 

      

      

      

      

      
        
          

      

      	 	
              TILRAY, INC.,

            
	 	
              as the Parent Guarantor

            
	 	 	 
	 	
              By:

            	/s/ Irwin D. Simon
	 	 	
              Name: Irwin D. Simon

            
	 	 	
              Title: President & CEO

              

            
	 	 	 

      

      

      

      

      
        
          

      

      	 	
              GLAS Trust Company LLC,

            
	 	
              as Trustee

            
	 	 	 
	 	
              By:

            	/s/ Lisha John

            
	 	 	
              Name: Lisha John

            
	 	 	
              Title: Vice PresidentExhibit 10.2

 

SEPARATION AGREEMENT AND COMPLETE
RELEASE

 

This Separation Agreement
and Complete Release (“Agreement”) is entered into, by and between the undersigned Michael Kruteck (the
“Employee”) and Tilray Inc. (the “Company”), as of the date that Employee signs this Agreement.

 

WHEREAS, Employee
was employed by the Company as Chief Financial Officer under an Employment Agreement between Employee and the Company dated
January 20, 2020 (“Employment Agreement”);

 

WHEREAS, the
Company is working to complete a change in control on or before April 30, 2021, whereby the Company would merge with Aphria (the
“Change in Control”);

 

WHEREAS, if
the Change in Control is completed on or before April 30, 2021, then the Company has decided to terminate Employee’s employment
without Cause (as defined in the Employment Agreement), effective May 6, 2021;

 

WHEREAS, if
the Company terminates the Employee’s employment, then the Company desires to provide
severance pay to Employee to assist Employee in Employee’s transition to new employment; and

 

WHEREAS, Employee
and the Company desire to resolve any and all of their differences between them, whether now pending or which may arise through
the course of Employee’s employment with the Company, with respect to Employee’s employment with the Company and the
termination thereof.

 

THEREFORE,
in consideration of the mutual promises and covenants set forth below, the sufficiency and receipt of which are hereby
acknowledged. Employee and the Company acknowledge and voluntarily agree as follows:

 

1.         That Employee’s last day of employment will be May 6, 2021, contingent upon completion of a Change in Control that the Company
may complete on or before April 30, 2021; provided, however, that if the Company does not complete the Change in Control on or
before April 30, 2021, then the Employee’s employment will not be terminated and will be governed by the terms of the Employment
Agreement. The Company will pay Employee for all accrued salary through Employee’s last day of employment within ten (10)
days after May 6, 2021 and in compliance with applicable law.

 

    	 		 

     

    

 

2.          That
the Company will pay Employee severance at Employee’s current base rate of wages, less applicable taxes and withholdings,
equal to twelve (12) months (“Severance Period”), of pay, as severance pay, paid in substantially equal installments
in accordance with the Company’s regular payroll practices, beginning with the regularly scheduled pay date following your
final date; provided, however, that the Company will make such payment only if Employee does not revoke Employee’s acceptance
of this Agreement, according to the procedure established in this Agreement. In addition, if applicable, the Company will excuse
the Employee from repaying any signing bonus s/he received, provided Employee does not revoke this Agreement.

 

3.       
That the Company will reimburse Employee for premiums that Employee pays for continuation coverage pursuant to the Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Employee and Employee’s eligible dependents
until the earlier of twelve (12) months from your final date or the time when Employee or Employee’s dependents,
respectively, are no longer eligible for continuation coverage, provided that Employee does not revoke Employee’s acceptance
of this Agreement during the revocation period specified in this Agreement. Thereafter, any continuation of Employee’s health
care coverage in accordance with COBRA will be at Employee’s sole expense. If Employee revokes Employee’s acceptance
of this Agreement during the revocation period specified in this Agreement, then any continuation of Employee’s health care
coverage from Employee’s last day of employment forward in accordance with COBRA will be at Employee’s sole expense.

 

    	 		 

     

    

 

4.          That
the Company will pay Employee an amount equal to Employee’s target bonus for the 2021 calendar year, pro-rated based on the number
of days that Employee was employed by the Company during the 2021 calendar year, less applicable taxes and withholdings. Such
payment will be made within ten (10) days after May 6, 2021 provided that Employee does not revoke Employee’s acceptance
of this Agreement.

 

5.          That
the Company will accelerate the vesting of all of Employee’s outstanding equity incentive awards.

 

6.          That
any benefits due Employee under the Company’s 401(K) plan will be determined in accordance with the plan as in existence on the
effective date of this Agreement.

 

7.          That
the Company will pay Employee a one-time payment of $38,709.00, less applicable taxes and withholdings, as payment for Employee
completing, by May 6, 2021, all identified and agreed upon Tasks as specified in the April 29, 2021, electronic mail message exchange
between Employee and the Company (subject line “Tasks through May 6’’). Such payment will be made within ten
(10) days after May 6, 2021, provided that Employee does not revoke Employee’s acceptance of this Agreement.

 

8.          That
the Company will not contest Employee’s initial application for unemployment compensation benefits following the expiration of
the Severance Period.

 

9.          That
upon receiving a request from a prospective employer of Employee, the Company will give a neutral reference that will inform the
prospective employer of the dates and positions of Employee’s employment with the Company.

 

    	 		 

     

    

 

10.       That
Employee will timely submit Employee’s business expenses, if any, and the Company will handle Employee’s timely submissions
in accordance with its policies and past practices.

 

11.       That
except as provided for in Paragraph Numbers 1, 2, 3, 4, 5, 6, 7 and 9 of this
Agreement, all compensation and other payments or benefits due Employee as a result of Employee’s employment with the
Company have been paid in full, and that Employee is not entitled to any additional salary, bonus, stock options,
commissions, paid time off, or other benefits (aside from any benefits to which
Employee is entitled as a participant in any employee benefit plan as to which Employee may have continuing rights pursuant
to the terms of such plan) or payments whatsoever.

 

12.       That
Employee, on behalf of Employee, Employee’s heirs, executors, assigns, and attorneys; hereby completely and irrevocably
discharges and releases the Company and its subsidiaries and affiliated entities and their respective current and former officers,
directors, employees, agents, owners, members, successors, assigns, and attorneys, hereinafter “the Releasees” from
all claims, demands, actions, causes of action, and liabilities of any kind whatsoever, including, without limitation, claims
arising out of or in any way related, directly or indirectly, to Employee’s employment with the Company, compensation therefor,
or termination thereof, including, without limitation, claims for unpaid compensation, benefits, bonus compensation, commissions,
or severance pay, wrongful discharge, defamation, discriminatory compensation practices, retaliation, breach of contract, unjust
enrichment, fraudulent inducement to contract, negligent misrepresentation, tortious interference with a business contract or
business relationship, breach of fiduciary duty, promissory estoppel, intentional or negligent infliction of emotional distress,
negligence claims and claims pursuant to Title VII of the Civil Rights Act of 1964, 42 U.S.C § 2000e, the Age Discrimination
in Employment Act (the “ADEA”), 29 U.S.C. § 621, the Americans with Disabilities Act, 42 U.S.C. §
12101, the National Labor Relations Act, 29 U.S.C. § 151, the Family and Medical Leave Act, 29 U.S.C. § 2601, the California
Fair Employment and Housing Act, Cal. Government Code § 12001, The Unruh Civil Rights Act, Cal. Civil Code § 1102.1,
California laws regarding the payment of wages, overtime, and vacation pay, Cal. Labor Code §§ 96 and 98, California
Industrial Welfare Commission Wage Orders, the Minnesota Human Rights Act, Minn. Stat. § 363A, the Colorado Anti-Discrimination
Laws, including without limitation, Part 4 of Article 34 of Title 24 of the Colorado Revised Statutes, Colorado Minimum Wage Order
No. 32, , the Texas Human Rights Act, Texas Labor Code § 21.051, the Texas
Wage Payment Law, Tex. Lab. Code Ann. § 61.001. § 21. 0022, the Equal Pay Act, 29 U.S.C. § 206, the Employee Retirement
Income Security Act, 29 U.S.C. § 1001, and any state or local law of a similar nature to any of the foregoing, arising at
any time prior to and including the effective date of this Agreement; provided, however, that Employee will continue to reserve
all of Employee’s rights as a plan participant in any continuing employee benefit plan,
subject to the terms of such plans. Employee further agrees that Employee
will not seek reinstatement or re-employment with the Company, or any of its known affiliated companies at any time in the future.
Specifically excluded from this release are the rights and obligations of Employee and the Company under this Agreement.

 

That furthermore. Employee
hereby waives any claim against the Releasees for attorneys’ fees, expenses and costs related to the claims, demands, actions,
causes of action, and liabilities set forth in the preceding paragraph.

 

Furthermore, nothing
in this Agreement modifies or releases any rights Employee has to indemnification from Company or its affiliates.

 

    	 		 

     

    

 

13.      That Employee
will not make any statement, orally, in writing, or otherwise, or in any way disseminate any in formation,
concerning the Company and its subsidiaries and affiliated entities, or concerning there respective businesses, business
operations, or business practices, which in any way. in form or substance, harms, disparages, or otherwise casts an unfavorable
light upon the Company and its subsidiaries and affiliated entities, or their respective employees, officers, or directors (past,
or present), or their reputations or standing in the business community or the community as a whole.

 

14.      That the Company
will not make any statement through its executive leadership team or Board of Directors, whether orally, in writing, or otherwise,
or in any way disseminate any Information, concerning Employee that in any way, in form or substance, harms, disparages, or otherwise
casts an unfavorable light upon Employee or Employee’s reputation or standing in the business community or the community
as a whole. For avoidance of doubt, any statements made by the Company regarding its own performance, whether or not employee participated
in or was involved in the subject matter of the Company’s statement, is specifically excluded from this paragraph.

 

15.      That Employee
shall not initiate, assist, testify, or consult with respect to any investigation, complaint,
suit, or action involving or related to the Releasees, other than for a claim brought by Employee challenging the validity
of this Agreement under the ADEA, or the Older Worker Benefit Protection Act, unless compelled to do so by legal process. That
furthermore, Employee will indemnify the Releasees for all expenses and costs, including reasonable attorneys’ fees, which
the Releasees incurs as a consequence of Employee's breach of this covenant That nothing in any provision of this Agreement prevents
Employee from filing an administrative charge or complaint, or otherwise communicating with or participating in an investigation
by the Equal Employment Opportunity Commission or equivalent state agency, the National Labor Relations Board, the Occupational
Safety and Health Administration, the Securities and Exchange Commission, any agency Inspector General, or any other federal,
state, or local agency governing employee rights. Nothing in this Agreement shall be construed to limit any disclosure to any
such governmental officials or agencies or making disclosures that are protected under whistleblower provisions of federal law
or regulation. However, by signing this Agreement, Employee waives Employee's right to recover any damages or other relief in
any claim or suit brought by employee, or by or through the EEOC, or other federal, state, or local law, except where prohibited
by law. This Agreement does not limit Employee's right to receive an award for information provided to any government agency.
Employee agrees to release and discharge the Releasees not only from any and all claims that Employee could make on Employee’s
own behalf, but Employee also specifically waives any right to become, and Employee promises not to become, a member of any class
in any proceeding or case in which a claim or claims against the. Releasees may arise, in whole or in part, from any event that
occurred prior to the date of this Agreement. If Employee is not permitted to opt-out of a future class, the Employee agrees to
waive any recovery for which Employee would be eligible as a member of such class. Nothing in this Agreement is intended to limit
or interfere with Employee’s rights under Section 7 of the National Labor Relations Act. 

  

16.       Employees
owe obligations of confidentiality to the Company, which are detailed in the Employee's Confidentially Agreement with Tilray Inc.
and in the Company's Code of Business Conduct and Ethics. Notwithstanding Paragraph 24, below, all obligations contained in the
Confidentiality Agreement remain in effect after termination of Employee’s employment with the Company. That Employee covenants
and represents that Employee has returned, or will return within five (5) days after his last day of employment, to the Company
all of its known property of any kind that was in Employee’s possession, custody, or control prior to the execution of this
Agreement, including all documents, records, correspondence, keys, and credit cards and each and every copy of such materials.
Employee agrees that if the Company discovers after the effective date of this Agreement that Employee has any of their files,
documents, or records at Employee's home or otherwise in Employee's possession or control, Employee will immediately turn over
such files, documents, or records to the Company.

 

    	 		 

     

    

 

17.       That Employee
confirms that Employee (a) has no knowledge of any facts or circumstances that Employee understands would give raise to a violation
of any law, regulation, or Company policy; arising out of or in connection with Employee’s employment or termination thereof;
(b) has not reported any allegations
of unlawful or unethical conduct to any third party that have not also been disclosed to the Company; (c) and acknowledges that
Employee has received no injuries and contracted no occupational diseases arising out of or in connection with Employee’s
employment with the Company.

 

18.       That
the parties hereby further acknowledge:

 

		(a)	That each has had the reasonable opportunity to review and consider the terms of this Agreement
for a period of twenty-one (21) days; and that Employee has been advised, through this Agreement, to consult with an attorney,
engaged at Employee's own expense, prior to signing this agreement:

 

		(b)	Thai, each fully understands, and had the opportunity to receive counsel regarding, their respective rights, obligations and
liabilities hereunder;

 

		(c)	That to the extent that Employee has taken less than twenty-one (21)
days to consider this Agreement, Employee acknowledges that Employee has had sufficient to consider this Agreement and to
consult with counsel and that Employee does not desire additional time;

 

    	 		 

     

    

 

		(d)	That Employee waives all claims accrued as of the date of execution and that this Agreement to
the greatest extent permitted by law, but that this Agreement does not waive any claims that may arise in the future;

 

		(e)	That nothing in this Agreement is or will be construed as an admission by either party, or any
affiliate thereof, of any breach of any agreement or any intentional or unintentional wrongdoing of any nature;

 

		(f)	That the terms of this Agreement
                                         are not effective or enforceable until seven (7) days after its execution, during which
                                         period Employee may revoke Employee's acceptance of this Agreement by having written
                                         or electronic notice delivered to the attention of Nyree Pinto, VP, Global Talent,
                                         2701 Eastlake Avenue EAST, Floor Three, Seattle, WA, 98102, or nyree.pinto@tilray.com;

 

		(g)	That the consideration the Company is providing Employee herein is in excess of the benefits that
the Company would otherwise he obligated to provide Employee;

 

19.       That
Releasees are intended third party beneficiaries of this Agreement.

 

20.       That
this Agreement will be binding upon and accrue to the benefit of Employee, Employee’s heirs, executors, and assigns, and
the Releasees.

 

21.       That
in the event of a breach of this Agreement by either party, the prevailing party in any action to enforce that party's rights hereunder
will be entitled to recover all costs and expenses, including reasonable attormeys’ fees.

 

    	 		 

     

    

 

22.       That
if any term, provision, covenant, or condition of ills Agreement will be held by
a court of competent jurisdiction to be invalid or unenforceable, in whole or in part, such decision will not affect the validity
of the remaining portions.

 

23.       That
this Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument. One or more of the counterparts of this Agreement may be delivered by facsimile or pdf
electronic file with the intention that delivery by such means shall have the same effect as delivery of an original counterpart.

 

24.       That
this Agreement is the entire agreement between the parties and supersedes and voids, except as described in Paragraph 1, all prior
agreements and understandings between the parties, if any, with respect to Employee’s employment with the Company and the
termination thereof, and that this Agreement cannot be amended or modified except by a writing signed by both parties.

 

IN WITNESS
WHEREOF, the parties have executed multiple copies of this Agreement, each of which constitutes an original, but all of which,
when taken together constitute the same document.

 

	 	 	 	Tilray Inc.
	 	 	 	 	 
	By:	/s/ Michael
    Kruteck	 	By:	/s/ Rita Seguin
	 	 	 	 	 
	Print	 	 	Print Name 	 
	Name: 	Michael
    Kruteck	 	and Title:	Rita Seguin
	 	 	 	 	 
	Date of Execution:
    	4/30/2021	 	Date of Execution:	4/30/2021

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]