Document:

EX-10.8

 Exhibit 10.8 

GREEN THUMB INDUSTRIES INC. 

2018 STOCK AND INCENTIVE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS: June 11, 2018 

APPROVED BY THE COMPANY’S SHAREHOLDERS: June 11, 2018 

Section 1. Purpose 

The purpose of the Plan is to promote the interests of the Company and its shareholders by aiding the Company in attracting and retaining
employees, officers, consultants, advisors and Non-Employee Directors capable of assuring the future success of the Company, to offer such persons incentives to put forth maximum efforts for the success of the
Company’s business and to compensate such persons through various stock and cash-based arrangements and provide them with opportunities for stock ownership in the Company, thereby aligning the interests of such persons with the Company’s
shareholders. 
 Section 2. Definitions 

As used in the Plan, the following terms shall have the meanings set forth below: 

(a) “Affiliate” shall mean any entity that, directly or indirectly through one or more intermediaries, is controlled by the
Company. 
 (b) “Award” shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit,
Performance Award or Dividend Equivalent granted under the Plan. 
 (c) “Award Agreement” shall mean any written agreement,
contract or other instrument or document evidencing an Award granted under the Plan (including a document in an electronic medium) executed in accordance with the requirements of Section 10(b). 

(d) “Board” shall mean the Board of Directors of the Company. 

(e) “Code” shall mean the U.S. Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated
thereunder. 
 (f) “Committee” shall mean the Compensation Committee of the Board or such other committee designated by the
Board to administer the Plan. At any time that the Company is an SEC registrant and is not a “foreign private issuer” for purposes of the Securities Act and the Exchange Act, the Committee shall be comprised of not less than such number of
Directors as shall be required to permit Awards granted under the Plan to qualify under Rule 16b-3, and each member of the Committee shall be a “non-employee
director” within the meaning of Rule 16b-3. 
 (g) “Company” shall mean Green
Thumb Industries Inc., a British Columbia corporation, and any successor corporation. 

 (h)     “Consultant” means, in relation to the Company,
an individual or a Consultant Company, other than an Employee, Director or Officer of the Company, that: 
  

	 	(i)	 is engaged to provide on a continuous bona fide basis, consulting, technical, management or other services to
the Company or to an Affiliate of the Company, other than services provided in relation to a distribution; 

  

	 	(ii)	 provides the services under a written contract between the Company or the Affiliate and the individual or the
Consultant Company; 

  

	 	(iii)	 in the reasonable opinion of the Company, spends or will spend a significant amount of time and attention on
the affairs and business of the Company or an Affiliate of the Company; and 

  

	 	(iv)	 has a relationship with the Company or an Affiliate of the Company that enables the individual to be
knowledgeable about the business and affairs of the Company. 

 (i)     “Consultant
Company” means for an individual Consultant, a company or partnership of which the individual is an employee, shareholder or partner. 

(j)     “CSE” means the Canadian Securities Exchange” 

(k)     “Director” shall mean a member of the Board. 

(l)     “Dividend Equivalent” shall mean any right granted under Section 6(e) of the Plan. 

(m)     “Effective Date” shall mean the date the Plan is adopted by the Board, as set forth in
Section 11. 
 (n)     “Eligible Person” shall mean any employee, officer, Non-Employee Director, or Consultant providing services to the Company or any Affiliate, or any such person to whom an offer of employment or engagement with the Company or any Affiliate is extended. 

(o)     “Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended. 

(p)     “Fair Market Value” with respect to one Share as of any date shall mean (a) if the Shares
are listed on the CSE or any established stock exchange, the price of one Share at the close of the regular trading session of such market or exchange on the last trading day prior to such date, and if no sale of Shares shall have occurred on such
date, on the next preceding date on which there was a sale of Shares. Notwithstanding the foregoing, in the event that the Shares are listed on the CSE, for the purposes of establishing the exercise price of any Options, the Fair Market Value shall
not be lower than the greater of the closing market price of the Shares on the CSE on (i) the trading day prior to the date of grant of the Options, and (ii) the date of grant of the Options; (b) if the Shares are not so listed on the
CSE or any established stock exchange, the average of the closing “bid” and “asked” prices quoted by the OTC Bulletin Board, the National Quotation Bureau, or any comparable reporting service on such date or, if there are no
quoted 

  
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“bid” and “asked” prices on such date, on the next preceding date for which there are such quotes for a Share; or (c) if the Shares are not publicly traded as of such
date, the per share value of one Share, as determined by the Board, or any duly authorized Committee of the Board, in its sole discretion, by applying principles of valuation with respect thereto. 

(q)     “Incentive Stock Option” shall mean an option granted under Section 6(a) of the Plan that is
intended to meet the requirements of Section 422 of the Code or any successor provision. 
 (r)    
“Multiple Voting Shares” shall mean the mulitple voting shares of the Company, each of which carries 100 votes and is convertible, in certain limited circumstances, into 100 Subordinate Voting Shares. 

(s)     “Non-Employee Director” shall mean a Director who is not
also an employee of the Company or any Affiliate. 
 (t)    
“Non-Qualified Stock Option” shall mean an option granted under Section 6(a) of the Plan that is not intended to be an Incentive Stock Option. 

(u)     “Option” shall mean an Incentive Stock Option or a
Non-Qualified Stock Option to purchase shares of the Company. 
 (v)
    “Participant” shall mean an Eligible Person designated to be granted an Award under the Plan. 

(w)     “Performance Award” shall mean any right granted under Section 6(d) of the Plan. 

(x)     “Person” shall mean any individual or entity, including a corporation, partnership, limited
liability company, association, joint venture or trust. 
 (y)     “Plan” shall mean the Company’s
2018 Stock and Incentive Plan, as amended from time to time. 
 (z)     “Restricted Stock” shall mean
any Share granted under Section 6(c) of the Plan. 
 (aa)     “Restricted Stock Unit” shall mean
any unit granted under Section 6(c) of the Plan evidencing the right to receive a Share (or a cash payment equal to the Fair Market Value of a Share) at some future date, provided that in the case of Participants who are liable to taxation
under the Tax Act in respect of amounts payable under this Plan, that such date shall not be later than December 31 of the third calendar year following the year services were performed in respect of the corresponding Restricted Stock Unit awarded.

 (bb)     “Section 409A” shall mean Section 409A of the Code, or any
successor provision, and applicable Treasury Regulations and other applicable guidance thereunder. 
 (cc)
    “Securities Act” shall mean the U.S. Securities Act of 1933, as amended. 

  
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 (dd)     “Share” or “Shares” shall mean
Subordinate Voting Shares of the Company (or such other securities or property as may become subject to Awards pursuant to an adjustment made under Section 4(c) of the Plan). 

(ee)     “Specified Employee” shall mean a specified employee as defined in Section 409A(a)(2)(B) of
the Code or applicable proposed or final regulations under Section 409A, determined in accordance with procedures established by the Company and applied uniformly with respect to all plans maintained by the Company that are subject to
Section 409A. 
 (ff)     “Stock Appreciation Right” shall mean any right granted under
Section 6(b) of the Plan. 
 (gg)     “Super Voting Shares” shall mean the super voting shares of
the Company, each of which carries 1000 votes and is convertible, in limited circumstances, into a Multiple Voting Share. 

(hh)     “Tax Act” means the Income Tax Act (Canada). 

(ii)     “U.S. Award Holder” shall mean any holder of an Award who is a “U.S. person”
(as defined in Rule 902(k) of Regulation S under the Securities Act) or who is holding or exercising Awards in the United States. 

Section 3. Administration 

(a)     Power and Authority of the Committee. The Plan shall be administered by the Committee. Subject to the
express provisions of the Plan and to applicable law, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to each Participant under the Plan;
(iii) determine the number of Shares to be covered by (or the method by which payments or other rights are to be calculated in connection with) each Award; (iv) determine the terms and conditions of any Award or Award Agreement, including
any terms relating to the forfeiture of any Award and the forfeiture, recapture or disgorgement of any cash, Shares or other amounts payable with respect to any Award; (v) amend the terms and conditions of any Award or Award Agreement, subject
to the limitations under Section 7; (vi) accelerate the exercisability of any Award or the lapse of any restrictions relating to any Award, subject to the limitations in Section 7, (vii) determine whether, to what extent and under what
circumstances Awards may be exercised in cash, Shares, other securities, other Awards or other property (excluding promissory notes), or canceled, forfeited or suspended, subject to the limitations in Section 7; (viii) determine whether, to
what extent and under what circumstances amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder thereof or the Committee, subject to the requirements of Section 409A;
(ix) interpret and administer the Plan and any instrument or agreement, including an Award Agreement, relating to the Plan; (x) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem
appropriate for the proper administration of the Plan; (xi) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan; and (xii) adopt such modifications,
rules, procedures and subplans as may be necessary or 

  
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desirable to comply with provisions of the laws of the jurisdictions in which the Company or an Affiliate may operate, including, without limitation, establishing any special rules for
Affiliates, Eligible Persons or Participants located in any particular country, in order to meet the objectives of the Plan and to ensure the viability of the intended benefits of Awards granted to Participants located in such non-United States jurisdictions. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations and other decisions under or with respect to the Plan or any Award or Award
Agreement shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon any Participant, any holder or beneficiary of any Award or Award Agreement, and any employee of the Company or
any Affiliate. 
 (b)     Delegation. The Committee may delegate to one or more officers or Directors of the
Company, subject to such terms, conditions and limitations as the Committee may establish in its sole discretion, the authority to grant Awards; provided, however, that the Committee shall not delegate such authority in such a manner
as would cause the Plan not to comply with applicable exchange rules or applicable corporate law. 
 (c)     Power
and Authority of the Board. Notwithstanding anything to the contrary contained herein, (i) the Board may, at any time and from time to time, without any further action of the Committee, exercise the powers and duties of the Committee under
the Plan, unless the exercise of such powers and duties by the Board would cause the Plan not to comply with the requirements of all applicable securities rules and (ii) only the Committee (or another committee of the Board comprised of
directors who qualify as independent directors within the meaning of the independence rules of any applicable securities exchange where the Shares are then listed) may grant Awards to Directors who are not also employees of the Company or an
Affiliate. 
 (d)     Indemnification. To the full extent permitted by law, (i) no member of the Board, the
Committee or any person to whom the Committee delegates authority under the Plan shall be liable for any action or determination taken or made in good faith with respect to the Plan or any Award made under the Plan, and (ii) the members of the
Board, the Committee and each person to whom the Committee delegates authority under the Plan shall be entitled to indemnification by the Company with regard to such actions and determinations. The provisions of this paragraph shall be in addition
to such other rights of indemnification as a member of the Board, the Committee or any other person may have by virtue of such person’s position with the Company. 

Section 4. Shares Available for Awards 

(a)     Shares Available. Subject to adjustment as provided in Section 4(c) of the Plan, the aggregate number
of Shares that may be issued under all Awards under the Plan shall be 10% of the number of Shares outstanding, and for clarity, including the number of Shares issuable on conversion of the Super Voting Shares and the Multiple Voting Shares. The
aggregate number of Shares that may be issued under all Awards under the Plan shall be reduced by Shares subject to Awards issued under the Plan in accordance with the Share counting rules described in Section 4(b) below. 

(b)     Counting Shares. For purposes of this Section 4, if an Award entitles the holder thereof to receive or
purchase Shares, the number of Shares covered by such Award or to which 

  
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such Award relates shall be counted on the date of grant of such Award against the aggregate number of Shares available for granting Awards under the Plan. 

 

	 	(i)	 Shares Added Back to Reserve. If any Shares covered by an Award or to which an Award relates are not
purchased or are forfeited or are reacquired by the Company (including any Shares withheld by the Company or Shares tendered to satisfy any tax withholding obligation on Awards or Shares covered by an Award that are settled in cash), or if an Award
otherwise terminates or is cancelled without delivery of any Shares, then the number of Shares counted against the aggregate number of Shares available under the Plan with respect to such Award, to the extent of any such forfeiture, reacquisition by
the Company, termination or cancellation, shall again be available for granting Awards under the Plan. 

  

	 	(ii)	 Cash-Only Awards. Awards that do not entitle the holder thereof to receive or purchase Shares shall not
be counted against the aggregate number of Shares available for Awards under the Plan. 

  

	 	(iii)	 Substitute Awards Relating to Acquired Entities. Shares issued under Awards granted in substitution for
awards previously granted by an entity that is acquired by or merged with the Company or an Affiliate shall not be counted against the aggregate number of Shares available for Awards under the Plan. 

(c)     Adjustments. In the event that any dividend (other than a regular cash dividend) or other distribution
(whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up,
spin-off, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company or other similar corporate
transaction or event affects the Shares such that an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as
it may deem equitable, adjust any or all of (i) the number and type of Shares (or other securities or other property) that thereafter may be made the subject of Awards, (ii) the number and type of Shares (or other securities or other
property) subject to outstanding Awards, (iii) the purchase price or exercise price with respect to any Award and (iv) the limitation contained in Section 4(d) below; provided, however, that the number of Shares covered
by any Award or to which such Award relates shall always be a whole number. Such adjustment shall be made by the Committee or the Board, whose determination in that respect shall be final, binding and conclusive. 

(d)     Director Award Limitations. The limitation contained in this Section 4(d) shall apply only with
respect to any Award or Awards granted under this Plan, and limitations on awards granted under any other shareholder-approved incentive plan maintained by the Company will be governed solely by the terms of such other plan. 

  
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 No Non-Employee Director may be granted any Award or
Awards denominated in Shares that exceed in the aggregate $1,500,000 (such value computed as of the date of grant in accordance with applicable financial accounting rules) in any calendar year. The foregoing limit shall not apply to any Award made
pursuant to any election by the Director to receive an Award in lieu of all or a portion of annual and committee retainers and meeting fees. 

(e)    Additional Award Limitations. If, and so long as, the Company is listed on the CSE, the aggregate number of
Shares issued or issuable to persons providing investor relations activities (as defined in CSE policies) as compensation within a one-year period, shall not exceed 1% of the total number of Shares then
outstanding. 
 Section 5. Eligibility 

Any Eligible Person shall be eligible to be designated as a Participant. In determining which Eligible Persons shall receive an Award and the
terms of any Award, the Committee may take into account the nature of the services rendered by the respective Eligible Persons, their present and potential contributions to the success of the Company and/or such other factors as the Committee, in
its discretion, shall deem relevant. Notwithstanding the foregoing, an Incentive Stock Option may only be granted to full-time or part-time employees (which term, as used herein, includes, without limitation, officers and Directors who are also
employees), and an Incentive Stock Option shall not be granted to an employee of an Affiliate unless such Affiliate is also a “subsidiary corporation” of the Company within the meaning of Section 424(f) of the Code or any successor
provision. 
 Section 6. Awards 

(a)    Options. The Committee is hereby authorized to grant Options to Eligible Persons with the following terms and
conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan, as the Committee shall determine: 
  

	 	(i)	 Exercise Price. The purchase price per Share purchasable under an Option shall be determined by the
Committee and shall not be less than 100% of the Fair Market Value of a Share on the date of grant of such Option; provided, however, that the Committee may designate a purchase price below Fair Market Value on the date of grant if the Option
is granted in substitution for a stock option previously granted by an entity that is acquired by or merged with the Company or an Affiliate. 

  

	 	(ii)	 Option Term. The term of each Option shall be fixed by the Committee at the date of grant but shall not
be longer than 10 years from the date of grant. Notwithstanding the foregoing, in the event that the expiry date of an Option held by a non-U.S. Award Holder falls within a trading blackout period imposed by
the Company (a “Blackout Period”), and neither the Company nor the individual in possession of the Options is subject to a cease trade order in respect of the Company’s securities, then the expiry date of such Option shall be
automatically extended to the 10th business day following the end of the Blackout Period. 

  
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	 	(iii)	 Time and Method of Exercise. The Committee shall determine the time or times at which an Option may be
exercised in whole or in part and the method or methods by which, and the form or forms, including, but not limited to, cash, Shares (actually or by attestation), other securities, other Awards or other property, or any combination thereof, having a
Fair Market Value on the exercise date equal to the applicable exercise price, in which payment of the exercise price with respect thereto may be made or deemed to have been made. 

 

	 	(A)	 Promissory Notes. Notwithstanding the foregoing, the Committee may not permit payment of the exercise
price, either in whole or in part, with a promissory note. 

  

	 	(B)	 Net Exercises. The Committee may, in its discretion, permit an Option to be exercised by delivering to
the Participant a number of Shares having an aggregate Fair Market Value (determined as of the date of exercise) equal to the excess, if positive, of the Fair Market Value of the Shares underlying the Option being exercised on the date of exercise,
over the exercise price of the Option for such Shares. 

  

	 	(iv)	 Incentive Stock Options. Notwithstanding anything in the Plan to the contrary, the following additional
provisions shall apply to the grant of stock options which are intended to qualify as Incentive Stock Options: 

  

	 	(A)	 The Committee will not grant Incentive Stock Options in which the aggregate Fair Market Value (determined as of
the time the Option is granted) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by any Participant during any calendar year (under this Plan and all other plans of the Company and its Affiliates) shall
exceed $100,000. 

  

	 	(B)	 Subject to adjustment pursuant to Section 4(c), the maximum number of Shares that may be issued pursuant
to Incentive Stock Options shall not exceed 20,000,000 Shares. 

  

	 	(C)	 All Incentive Stock Options must be granted within ten years from the earlier of the date on which this Plan
was adopted by the Board or the date this Plan was approved by the shareholders of the Company. 

  

	 	(D)	 Unless sooner exercised, all Incentive Stock Options shall expire and no longer be exercisable no later than 10
years after the date of grant; provided, however, that in the case of a grant of an Incentive Stock Option to a Participant who, at the time such Option is granted, owns (within the meaning of Section 422 of the Code) stock
possessing more than 10% of the total combined voting 

  
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power of all classes of stock of the Company or of its Affiliates, such Incentive Stock Option shall expire and no longer be exercisable no later than five years from the date of grant.

  

	 	(E)	 The purchase price per Share for an Incentive Stock Option shall be not less than 100% of the Fair Market Value
of a Share on the date of grant of the Incentive Stock Option; provided, however, that, in the case of the grant of an Incentive Stock Option to a Participant who, at the time such Option is granted, owns (within the meaning of
Section 422 of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of its Affiliates, the purchase price per Share purchasable under an Incentive Stock Option shall be not less
than 110% of the Fair Market Value of a Share on the date of grant of the Incentive Stock Option. 

  

	 	(F)	 Any Incentive Stock Option authorized under the Plan shall contain such other provisions as the Committee shall
deem advisable, but shall in all events be consistent with and contain all provisions required in order to qualify the Option as an Incentive Stock Option. 

(b)    Stock Appreciation Rights. The Committee is hereby authorized to grant Stock Appreciation Rights to Eligible
Persons subject to the terms of the Plan and any applicable Award Agreement. A Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to receive upon exercise thereof the excess of (i) the Fair Market Value
of one Share on the date of exercise over (ii) the grant price of the Stock Appreciation Right as specified by the Committee, which price shall not be less than 100% of the Fair Market Value of one Share on the date of grant of the Stock
Appreciation Right; provided, however, that, subject to applicable law and stock exchange rules, the Committee may designate a grant price below Fair Market Value on the date of grant if the Stock Appreciation Right is granted in substitution
for a stock appreciation right previously granted by an entity that is acquired by or merged with the Company or an Affiliate. Subject to the terms of the Plan and any applicable Award Agreement, the grant price, term, methods of exercise, dates of
exercise, methods of settlement and any other terms and conditions of any Stock Appreciation Right shall be as determined by the Committee (except that the term of each Stock Appreciation Right shall be subject to the same limitations in
Section 6(a)(ii) applicable to Options). The Committee may impose such conditions or restrictions on the exercise of any Stock Appreciation Right as it may deem appropriate. 

(c)    Restricted Stock and Restricted Stock Units. The Committee is hereby authorized to grant an Award of
Restricted Stock and Restricted Stock Units to Eligible Persons with the following terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine: 

 

	 	(i)	 Restrictions. Shares of Restricted Stock and Restricted Stock Units shall be subject to such
restrictions as the Committee may impose (including, 

  
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without limitation, any limitation on the right to vote a Share of Restricted Stock or the right to receive any dividend or other right or property with respect thereto), which restrictions may
lapse separately or in combination at such time or times, in such installments or otherwise as the Committee may deem appropriate. Notwithstanding the foregoing, rights to dividend or Dividend Equivalent payments shall be subject to the limitations
described in Section 6(e). 

  

	 	(ii)	 Issuance and Delivery of Shares. Any Restricted Stock granted under the Plan shall be issued at the time
such Awards are granted and may be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or issuance of a stock certificate or certificates, which certificate or certificates shall be held by the Company
or held in nominee name by the stock transfer agent or brokerage service selected by the Company to provide such services for the Plan. Such certificate or certificates shall be registered in the name of the Participant and shall bear an appropriate
legend referring to the restrictions applicable to such Restricted Stock. Shares representing Restricted Stock that are no longer subject to restrictions shall be delivered (including by updating the book-entry registration) to the Participant
promptly after the applicable restrictions lapse or are waived. In the case of Restricted Stock Units, no Shares shall be issued at the time such Awards are granted. Upon the lapse or waiver of restrictions and the restricted period relating to
Restricted Stock Units evidencing the right to receive Shares, such Shares shall be issued and delivered to the holder of the Restricted Stock Units. 

  

	 	(iii)	 Forfeiture. Except as otherwise determined by the Committee or as provided in an Award Agreement, upon a
Participant’s termination of employment or service or resignation or removal as a Director (in either case, as determined under criteria established by the Committee) during the applicable restriction period, all Shares of Restricted Stock and
all Restricted Stock Units held by such Participant at such time shall be forfeited and reacquired by the Company for cancellation at no cost to the Company; provided, however, that the Committee may waive in whole or in part any or
all remaining restrictions with respect to Shares of Restricted Stock or Restricted Stock Units. 

(d)    Performance Awards. The Committee is hereby authorized to grant Performance Awards to Eligible Persons. A
Performance Award granted under the Plan (i) may be denominated or payable in cash, Shares (including, without limitation, Restricted Stock and Restricted Stock Units), other securities, other Awards or other property and (ii) shall confer
on the holder thereof the right to receive payments, in whole or in part, upon the achievement of one or more objective performance goals during such performance periods as the Committee shall establish. Subject to the terms of the Plan, the
performance goals to be achieved during any performance period, the length of any performance period, the amount of any Performance Award granted, the amount of any payment or transfer to be made pursuant to any Performance

  
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Award and any other terms and conditions of any Performance Award shall be determined by the Committee. 

(e)    Dividend Equivalents. The Committee is hereby authorized to grant Dividend Equivalents to Eligible Persons
under which the Participant shall be entitled to receive payments (in cash, Shares, other securities, other Awards or other property as determined in the discretion of the Committee) equivalent to the amount of cash dividends paid by the Company to
holders of Shares with respect to a number of Shares determined by the Committee. Subject to the terms of the Plan and any applicable Award Agreement, such Dividend Equivalents may have such terms and conditions as the Committee shall determine.
Notwithstanding the foregoing, (i) the Committee may not grant Dividend Equivalents to Eligible Persons in connection with grants of Options, Stock Appreciation Rights or other Awards the value of which is based solely on an increase in the
value of the Shares after the date of grant of such Award, and (ii) dividend and Dividend Equivalent amounts may be accrued but shall not be paid unless and until the date on which all conditions or restrictions relating to such Award have been
satisfied, waived or lapsed. 
 (f)     General 

 

	 	(i)	 Consideration for Awards. Awards may be granted for no cash consideration or for any cash or other
consideration as may be determined by the Committee or required by applicable law. 

  

	 	(ii)	 Limits on Transfer of Awards. Except as otherwise provided by the Committee in its discretion and
subject to such additional terms and conditions as it determines, no Award (other than fully vested and unrestricted Shares issued pursuant to any Award) and no right under any such Award shall be transferable by a Participant other than by will or
by the laws of descent and distribution, and no Award (other than fully vested and unrestricted Shares issued pursuant to any Award) or right under any such Award may be pledged, alienated, attached or otherwise encumbered, and any purported pledge,
alienation, attachment or encumbrance thereof shall be void and unenforceable against the Company or any Affiliate. Where the Committee does permit the transfer of an Award other than a fully vested and unrestricted Share, such permitted transfer
shall be for no value and in accordance with all applicable securities rules. The Committee may also establish procedures as it deems appropriate for a Participant to designate a person or persons, as beneficiary or beneficiaries, to exercise the
rights of the Participant and receive any property distributable with respect to any Award in the event of the Participant’s death. 

  

	 	(iii)	 Restrictions; Securities Exchange Listing. All Shares or other securities delivered under the Plan
pursuant to any Award or the exercise thereof shall be subject to such restrictions as the Committee may deem advisable under the Plan, applicable federal or state securities laws and regulatory requirements, and the Committee may cause appropriate
entries to be made with respect to, or legends to be placed on the certificates for, such 

  
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Shares or other securities to reflect such restrictions. The Company shall not be required to deliver any Shares or other securities covered by an Award unless and until the requirements of any
federal or state securities or other laws, rules or regulations (including the rules of any securities exchange) as may be determined by the Company to be applicable are satisfied. 

 

	 	(iv)	 Prohibition on Option and Stock Appreciation Right Repricing. Except as provided in Section 4(c)
hereof, the Committee may not, without prior approval of the Company’s shareholders and applicable stock exchange approval, seek to effect any repricing of any previously granted, “underwater” Option or Stock Appreciation Right by:
(i) amending or modifying the terms of the Option or Stock Appreciation Right to lower the exercise price; (ii) canceling the underwater Option or Stock Appreciation Right and granting either (A) replacement Options or Stock
Appreciation Rights having a lower exercise price; or (B) Restricted Stock, Restricted Stock Units, Performance Award or Other Stock-Based Award in exchange; or (iii) cancelling or repurchasing the underwater Option or Stock Appreciation
Right for cash or other securities. An Option or Stock Appreciation Right will be deemed to be “underwater” at any time when the Fair Market Value of the Shares covered by such Award is less than the exercise price of the Award.

  

	 	(v)	 Section 409A Provisions. Notwithstanding anything in the Plan or any Award Agreement to the
contrary, to the extent that any amount or benefit that constitutes “deferred compensation” to a Participant under Section 409A and applicable guidance thereunder is otherwise payable or distributable to a Participant under the Plan
or any Award Agreement solely by reason of the occurrence of a change in control or due to the Participant’s disability or “separation from service” (as such term is defined under Section 409A), such amount or benefit will not be
payable or distributable to the Participant by reason of such circumstance unless the Committee determines in good faith that (i) the circumstances giving rise to such change in control event, disability or separation from service meet the
definition of a change in control event, disability, or separation from service, as the case may be, in Section 409A(a)(2)(A) of the Code and applicable proposed or final regulations, or (ii) the payment or distribution of such amount or
benefit would be exempt from the application of Section 409A by reason of the short-term deferral exemption or otherwise. Any payment or distribution that otherwise would be made to a Participant who is a Specified Employee (as determined by
the Committee in good faith) on account of separation from service may not be made before the date which is six months after the date of the Specified Employee’s separation from service (or if earlier, upon the Specified Employee’s death)
unless the payment or distribution is exempt from the application of Section 409A by reason of the short-term deferral exemption or otherwise. 

  
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	 	(vi)	 Acceleration of Vesting or Exercisability. No Award Agreement shall accelerate the exercisability of any Award
or the lapse of restrictions relating to any Award in connection with a change-in-control event, unless such acceleration occurs upon the consummation of (or effective
immediately prior to the consummation of, provided that the consummation subsequently occurs) such change-in-control event. 

Section 7. Amendment and Termination; Corrections 

(a)     Amendments to the Plan and Awards. The Board may from time to time amend, suspend or terminate this Plan,
and the Committee may amend the terms of any previously granted Award, provided that no amendment to the terms of any previously granted Award may (except as expressly provided in the Plan) materially and adversely alter or impair the terms
or conditions of the Award previously granted to a Participant under this Plan without the written consent of the Participant or holder thereof. Any amendment to this Plan, or to the terms of any Award previously granted, is subject to compliance
with all applicable laws, rules, regulations and policies of any applicable governmental entity or securities exchange, including receipt of any required approval from the governmental entity or stock exchange, and any such amendment, alteration,
suspension, discontinuation or termination of an Award will be in compliance with CSE Policies. For greater certainty and without limiting the foregoing, the Board may amend, suspend, terminate or discontinue the Plan, and the Committee may amend or
alter any previously granted Award, as applicable, without obtaining the approval of shareholders of the Company in order to: 
  

	 	(i)	 amend the eligibility for, and limitations or conditions imposed upon, participation in the Plan;

  

	 	(ii)	 amend any terms relating to the granting or exercise of Awards, including but not limited to terms relating to
the amount and payment of the exercise price, or the vesting, expiry, assignment or adjustment of Awards, or otherwise waive any conditions of or rights of the Company under any outstanding Award, prospectively or retroactively;

  

	 	(iii)	 make changes that are necessary or desirable to comply with applicable laws, rules, regulations and policies of
any applicable governmental entity or stock exchange (including amendments to Awards necessary or desirable to avoid any adverse tax results under Section 409A), and no action taken to comply shall be deemed to impair or otherwise adversely
alter or impair the rights of any holder of an Award or beneficiary thereof; or 

  

	 	(iv)	 amend any terms relating to the administration of the Plan, including the terms of any administrative
guidelines or other rules related to the Plan. 

 Notwithstanding the foregoing and for greater certainty, prior approval
of the shareholders of the Company shall be required for any amendment to the Plan or an Award that would: 

  
 -13- 

	 	(i)	 require shareholder approval under the rules or regulations of securities exchange that is applicable to the
Company; 

  

	 	(ii)	 increase the number of shares authorized under the Plan as specified in Section 4 of the Plan;

  

	 	(iii)	 permit repricing of Options or Stock Appreciation Rights, which is currently prohibited by
Section 6(f)(iv) of the Plan; 

  

	 	(iv)	 permit the award of Options or Stock Appreciation Rights at a price less than 100% of the Fair Market Value of
a Share on the date of grant of such Option or Stock Appreciation Right, contrary to the provisions of Section 6(a)(i) and Section 6(b) of the Plan; 

 

	 	(v)	 permit Options to be transferable other than as provided in Section 6(f)(ii); 

 

	 	(vi)	 amend this Section 7(a); or 

 

	 	(vii)	 increase the maximum term permitted for Options and Stock Appreciation Rights as specified in Section 6(a)
and Section 6(b) or extend the terms of any Options beyond their original expiry date. 

 (b)    
Corporate Transactions. In the event of any reorganization, merger, consolidation, split-up, spin-off, combination, plan of arrangement, take-over bid or tender
offer, repurchase or exchange of Shares or other securities of the Company or any other similar corporate transaction or event involving the Company (or the Company shall enter into a written agreement to undergo such a transaction or event), the
Committee or the Board may, in its sole discretion, provide for any of the following to be effective upon the consummation of the event (or effective immediately prior to the consummation of the event, provided that the consummation of the
event subsequently occurs), and no action taken under this Section 7(b) shall be deemed to impair or otherwise adversely alter the rights of any holder of an Award or beneficiary thereof: 

 

	 	(i)	 either (A) termination of the Award, whether or not vested, in exchange for an amount of cash and/or other
property, if any, equal to the amount that would have been attained upon the exercise of the vested portion of the Award or realization of the Participant’s vested rights (and, for the avoidance of doubt, if, as of the date of the occurrence of
the transaction or event described in this Section 7(b)(i)(A), the Committee or the Board determines in good faith that no amount would have been attained upon the exercise of the Award or realization of the Participant’s rights, then the
Award may be terminated by the Company without any payment) or (B) the replacement of the Award with other rights or property selected by the Committee or the Board, in its sole discretion; 

 

	 	(ii)	 that the Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall
be substituted for by similar options, rights or awards covering the stock of the successor or survivor 

  
 -14- 

	 	
corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; 

 

	 	(iii)	 that, subject to Section 6(f)(vi), the Award shall be exercisable or payable or fully vested with respect
to all Shares covered thereby, notwithstanding anything to the contrary in the applicable Award Agreement; or 

  

	 	(iv)	 that the Award cannot vest, be exercised or become payable after a date certain in the future, which may be the
effective date of the event. 

 (c)     Correction of Defects, Omissions and Inconsistencies.
The Committee may, without prior approval of the shareholders of the Company, correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award or Award Agreement in the manner and to the extent it shall deem
desirable to implement or maintain the effectiveness of the Plan. 
 Section 8. Income Tax Withholding 

In order to comply with all applicable federal, state, local or foreign income tax laws or regulations, the Company may take such action as it
deems appropriate to ensure that all applicable federal, state, local or foreign payroll, withholding, income or other taxes, which are the sole and absolute responsibility of a Participant, are withheld or collected from such Participant. Without
limiting the foregoing, in order to assist a Participant in paying all or a portion of the applicable taxes to be withheld or collected upon exercise or receipt of (or the lapse of restrictions relating to) an Award, the Committee, in its discretion
and subject to such additional terms and conditions as it may adopt, may permit the Participant to satisfy such tax obligation by (a) electing to have the Company withhold a portion of the Shares otherwise to be delivered upon exercise or
receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value equal to the amount of such taxes (subject to any applicable limitations under ASC Topic 718 to avoid adverse accounting treatment) or (b) delivering to
the Company Shares other than Shares issuable upon exercise or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value equal to the amount of such taxes. The election, if any, must be made on or before the date that
the amount of tax to be withheld is determined. 
 Section 9. U.S. Securities Laws 

Neither the Awards nor the securities which may be acquired pursuant to the exercise of the Awards have been registered under the Securities
Act or under any securities law of any state of the United States of America and are considered “restricted securities” (as such term is defined in Rule 144(a)(3) under the U.S. Securities Act and any Shares shall be affixed with an
applicable restrictive legend as set forth in the Award Agreement. The Awards may not be offered or sold, directly or indirectly, in the United States except pursuant to registration under the U.S. Securities Act and the securities laws of all
applicable states or available exemptions therefrom, and the Company has no obligation or present intention of filing a registration statement under the U.S. Securities Act in respect of any of the Awards or the securities underlying the Awards,
which could result in such U.S. Award Holder not being able to dispose of any Shares issued on exercise of Awards for a considerable length of time. Each U.S. Award 

  
 -15- 

 
Holder or anyone who becomes a U.S. Award Holder, who is granted an Award in the United States, who is a resident of the United States or who is otherwise subject to the Securities Act or the
securities laws of any state of the United States will be required to complete an Award Agreement which sets out the applicable United States restrictions. 

Section 10. General Provisions 

(a)     No Rights to Awards. No Eligible Person, Participant or other Person shall have any claim to be granted any
Award under the Plan, and there is no obligation for uniformity of treatment of Eligible Persons, Participants or holders or beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to any
Participant or with respect to different Participants. 
 (b)     Award Agreements. No Participant shall have
rights under an Award granted to such Participant unless and until an Award Agreement shall have been signed by the Participant (if requested by the Company), or until such Award Agreement is delivered and accepted through an electronic medium in
accordance with procedures established by the Company. An Award Agreement need not be signed by a representative of the Company unless required by the Committee. Each Award Agreement shall be subject to the applicable terms and conditions of the
Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee. 
 (c)     Plan
Provisions Control. In the event that any provision of an Award Agreement conflicts with or is inconsistent in any respect with the terms of the Plan as set forth herein or subsequently amended, the terms of the Plan shall control. 

(d)     No Rights of Shareholders. Except with respect to Shares issued under Awards (and subject to such conditions
as the Committee may impose on such Awards pursuant to Section 6(c)(i) or Section 6(e)), neither a Participant nor the Participant’s legal representative shall be, or have any of the rights and privileges of, a shareholder of the
Company with respect to any Shares issuable upon the exercise or payment of any Award, in whole or in part, unless and until such Shares have been issued. 

(e)     No Limit on Other Compensation Arrangements. Nothing contained in the Plan shall prevent the Company or any
Affiliate from adopting or continuing in effect other or additional compensation plans or arrangements, and such plans or arrangements may be either generally applicable or applicable only in specific cases. 

(f)     No Right to Employment. The grant of an Award shall not be construed as giving a Participant the right to be
retained as an employee of the Company or any Affiliate, nor will it affect in any way the right of the Company or an Affiliate to terminate a Participant’s employment at any time, with or without cause, in accordance with applicable law. In
addition, the Company or an Affiliate may at any time dismiss a Participant from employment free from any liability or any claim under the Plan or any Award, unless otherwise expressly provided in the Plan or in any Award Agreement. Nothing in this
Plan shall confer on any person any legal or equitable right against the Company or any Affiliate, directly or indirectly, or give rise to any cause of action at law or in equity against the Company or an Affiliate. Under no circumstances

  
 -16- 

 
shall any person ceasing to be an employee of the Company or any Affiliate be entitled to any compensation for any loss of any right or benefit under the Plan which such employee might otherwise
have enjoyed but for termination of employment, whether such compensation is claimed by way of damages for wrongful or unfair dismissal, breach of contract or otherwise. By participating in the Plan, each Participant shall be deemed to have accepted
all the conditions of the Plan and the terms and conditions of any rules and regulations adopted by the Committee and shall be fully bound thereby. 

(g)    Governing Law. The internal law, and not the law of conflicts, of Delaware shall govern all questions
concerning the validity, construction and effect of the Plan or any Award, and any rules and regulations relating to the Plan or any Award. 

(h)    Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or
unenforceable in any jurisdiction or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or
deemed amended without, in the determination of the Committee, materially altering the purpose or intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction or Award, and the remainder of the Plan or any such Award
shall remain in full force and effect. 
 (i)    No Trust or Fund Created. Neither the Plan nor any Award shall
create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the
Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company or any Affiliate. 

(j)    Other Benefits. No compensation or benefit awarded to or realized by any Participant under the Plan shall be
included for the purpose of computing such Participant’s compensation or benefits under any pension, retirement, savings, profit sharing, group insurance, disability, severance, termination pay, welfare or other benefit plan of the Company,
unless required by law or otherwise provided by such other plan. 
 (k)    No Fractional Shares. No fractional
Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash shall be paid in lieu of any fractional Share or whether such fractional Share or any rights thereto shall be canceled, terminated
or otherwise eliminated. 
 (l)    Headings. Headings are given to the sections and subsections of the Plan
solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. 

Section 11. Clawback or Recoupment 

All Awards under this Plan shall be subject to recovery or other penalties pursuant to (i) any Company clawback policy, as may be adopted
or amended from time to time, or (ii) any applicable law, rule or regulation or applicable stock exchange rule. 

  
 -17- 

 Section 12. Effective Date of the Plan 

The Plan was adopted by the Board on June 11, 2018. The Plan shall be subject to approval by the shareholders of the Company which
approval will be within 12 months after the date the Plan is adopted by the Board. 
 Section 13. Term of the Plan 

No Award shall be granted under the Plan, and the Plan shall terminate, on the earlier of (i) June 10, 2028 or the tenth anniversary
of the date the Plan is approved by the shareholders of the Company, or any earlier date of discontinuation or termination established pursuant to Section 7(a) of the Plan. Unless otherwise expressly provided in the Plan or in an applicable
Award Agreement, any Award theretofore granted may extend beyond such dates, and the authority of the Committee provided for hereunder with respect to the Plan and any Awards, and the authority of the Board to amend the Plan, shall extend beyond the
termination of the Plan. 

  
 -18-EX-10.9

 Exhibit 10.9 

AMENDMENT NO. 1 TO 
 THE GREEN
THUMB INDUSTRIES INC. 
 2018 STOCK AND INCENTIVE PLAN 

Effective August 30, 2019, the Green Thumb Industries Inc. 2018 Stock and Incentive Plan (the “Plan”) is amended as follows: 

Section 2(f) shall be deleted and replaced in its entirety with the following: 

“Committee” shall mean the Compensation Committee of the Board or such other committee designated by the Board to administer
the Plan, provided that, for the avoidance of doubt, the Board may act as the Committee at any time. At any time that the Company is an SEC registrant and is not a “foreign private issuer” for purposes of the Securities Act and the
Exchange Act, either (i) the Board shall act as the Committee or (ii) the Committee shall be comprised of two or more “non-employee directors” within the meaning of Rule 16b-3.

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