Document:

EX-4.36

 Exhibit 4.36 

[                       
                 ] 
  

	
	 [Face of Note]

 CUSIP             

ISIN                

5.375% Senior Notes due 2029 
  

			
	No. ___	  	$                    

 INDIGO NATURAL RESOURCES LLC 

promises to pay to                  or registered
assigns, 
 the principal sum of
                                    
DOLLARS [or such greater or lesser amount as may be indicated on the attached Schedule of Exchanges of Interests in the Global Note] on February 1, 2029. 

Interest Payment Dates: February 1 and August 1 

Record Dates: January 15 and July 15 
 Dated:
                 ,             

  
 A-1 

 
			
	INDIGO NATURAL RESOURCES LLC
		
	By:	 	  

		 	Name: William E. Pritchard III
		 	Title:   Executive Chairman

  
 [Rule 144 Note (A-1)] 

			
	Certificate of Authentication:
	
	This is one of the Notes referred to in the within-mentioned Indenture:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION as Trustee
		
	By:	 	  

		 	Authorized Signatory
	Dated:                     , 2021

  
 [Rule 144 Note (A-1)] 

 [BACK OF NOTE] 

5.375% SENIOR NOTES DUE 2029 

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

[Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture] 

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

(1) INTEREST. Indigo Natural Resources LLC, a Delaware limited liability company (the
“Company”), promises to pay or cause to be paid interest on the unpaid principal amount of this Note at 5.375% per annum from [February 2, 2021]1. The Company will pay interest,
if any, semi-annually in arrears on February 1 and August 1 of each year, or if any such day is a Legal Holiday, on the next succeeding Business Day (each, an “Interest Payment Date”); provided that the first
Interest Payment Date shall be August 1, 2021. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that, if there is no
existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date.
Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If any payment with respect to any principal of, premium, if any, on, or
interest, if any, on any Note (including any payment to be made on any date fixed for redemption or purchase of any Note) is due on a day which is a Legal Holiday, then the payment need not be made on such date, but may be made on the next Business
Day with the same force and effect as if made on such date, and no interest will accrue for the intervening period. 
 (2)
METHOD OF PAYMENT. The Company will pay interest on the Notes (except defaulted interest), if any, to the Persons who are registered Holders of Notes at the close of business on
the January 15 and July 15 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect
to defaulted interest. The Notes will be payable as to principal, premium, if any, and interest, if any, at the office or agency of the Company maintained for such purpose described in the Indenture, or, at the option of the Company, payment of
interest, if any, may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of,
premium, if any, on, and interest, if any, on, all Global Notes and all other Notes the Holders of at least $5 million principal amount of which will have provided wire transfer instructions to an account in the continental United States to the
Company or the Paying Agent at least 30 days prior to the applicable payment date. Such payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

 

	1 	 Issue Date for initial notes. 

  
 3 

 (3) PAYING AGENT AND
REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change the Paying Agent or Registrar without notice to any
Holder. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
 (4)
INDENTURE. The Company issued the Notes under an Indenture dated as of February 2, 2021 (as it may be amended or supplemented from time to time, the “Indenture”) among the Company, the
Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of
this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling to the extent permitted by law. The Notes are unsecured obligations of the Company. The Indenture does not limit the
aggregate principal amount of Notes that may be issued thereunder. 
 (5) OPTIONAL
REDEMPTION. 
 (a) At any time prior to February 1, 2024, the Company may on any one
or more occasions redeem up to 40% of the aggregate principal amount of Notes issued under the Indenture (including any Additional Notes), upon notice as provided in the Indenture, at a redemption price equal to 105.375% of the principal amount of
the Notes redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption (subject to the rights of Holders of Notes on the relevant record date to receive interest on the relevant Interest Payment Date), with an amount
of cash not greater than the net cash proceeds of one or more Equity Offerings, provided that: 
 (A) at least 60% of
the aggregate principal amount of Notes issued under the Indenture (including any Additional Notes but excluding Notes held by the Company and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption (unless all such
Notes are redeemed substantially concurrently); and 
 (B) the redemption occurs within 180 days of the date of the closing
of such Equity Offering. 
 (b) At any time prior to February 1, 2024, the Company may on any one or more occasions
redeem all or a part of the Notes, upon notice as provided in the Indenture, at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus the Applicable Premium, and accrued and unpaid interest, if any, to, but excluding,
the date of redemption, subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date. 

(c) Except pursuant to the preceding paragraphs and paragraph (e) below, the Notes will not be redeemable at the
Company’s option prior to February 1, 2024. 
 (d) On or after February 1, 2024, the Company may on any one or
more occasions redeem all or a part of the Notes, upon notice as provided in the Indenture, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Notes redeemed, to,
but excluding, the applicable date of redemption, if redeemed during the twelvemonth period beginning on February 1 of the years indicated below, subject to the rights of Holders on the relevant record date to receive interest on the relevant
Interest Payment Date: 

  
 4 

					
	 Year
	  	Percentage	 
	 2024
	  	 	102.688	% 
	 2025
	  	 	101.344	% 
	 2026 and thereafter
	  	 	100.000	% 

 Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the Notes
or portions thereof called for redemption on the applicable redemption date. 
 (e) In the event that Holders of not less
than 90% in aggregate principal amount of the outstanding Notes accept a Change of Control Offer, Alternate Offer or other tender offer to purchase all of the Notes and the Company (or any third party making such Change of Control Offer, Alternate
Offer or other tender offer to purchase all of the Notes in lieu of the Company as described in paragraph (c) above) purchases all of the Notes held by such Holders, the Company will have the right, upon not less than 30 nor more than 60 days
prior notice, given not more than 30 days following the purchase pursuant to the Change of Control Offer, Alternate Offer or other tender offer to purchase all of the Notes, to redeem all of the Notes that remain outstanding following such purchase
at a redemption price equal to the price offered each other Holder in the Change of Control Offer, Alternate Offer or other tender offer, plus, to the extent not included in the Change of Control Offer, Alternate Offer or other tender offer
payment, accrued and unpaid interest, if any, on the Notes that remain outstanding, to, but excluding, the date of redemption (subject to the rights of Holders on the relevant record date to receive interest due on an Interest Payment Date that is
on or prior to the redemption date). 
 (6) MANDATORY REDEMPTION.
The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 (7)
REPURCHASE AT THE OPTION OF HOLDER. 

(a) If there is a Change of Control Triggering Event, the Company will be required to make an offer (a “Change of
Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount
thereof plus accrued and unpaid interest, if any, thereon to the date of purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date (the “Change of Control
Payment”). Within 30 days following any Change of Control Triggering Event, the Company will send a notice to each Holder setting forth the procedures governing the Change of Control Offer as required by the Indenture. 

  
 5 

 (b) If the Company or a Restricted Subsidiary of the Company consummates any
Asset Sales, the Company may be required as set forth in the Indenture to apply Excess Proceeds to make an Asset Sale Offer to all Holders of Notes and all holders of other Pari Passu Indebtedness. Holders of Definitive Notes that are the subject of
an offer to purchase will receive an Asset Sale Offer from the Company prior to any related purchase date and may elect to have such Notes purchased by completing the form entitled “Option of Holder to Elect Purchase” attached to
the Notes. 
 (8) NOTICE OF REDEMPTION. At least 15 days but not
more than 60 days before a redemption date, the Company will mail or cause to be mailed, by first class mail, or send electronically if DTC is the recipient, a notice of redemption to each Holder whose Notes are to be redeemed at its registered
address, except that redemption notices may be sent more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture pursuant to Article 8 or 11
thereof. Notes and portions of Notes selected will be in amounts of minimum denominations of $2,000 or whole multiples of $1,000 in excess thereof; except that if all of the Notes of a Holder are to be redeemed, the entire outstanding amount of
Notes held by such Holder shall be redeemed. 
 (9) DENOMINATIONS, TRANSFER,
EXCHANGE. The Notes are in registered form in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the
Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the
Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the
transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the next succeeding Interest Payment Date. 

(10) PERSONS DEEMED OWNERS. The registered Holder of a Note may be
treated as the owner of it for all purposes. Only registered Holders have rights under the Indenture. 
 (11)
AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture, the Notes or the Note Guarantees may be amended or supplemented with the consent of
the Holders of a majority in aggregate principal amount of the then outstanding 
 Notes including Additional Notes, if any, voting as a
single class, and any existing Default or Event of Default or compliance with any provision of the Indenture or the Notes or the Note Guarantees may be waived with the consent of the Holders of a majority in aggregate principal amount of the then
outstanding Notes including Additional Notes, if any, voting as a single class. Without the consent of any Holder of Notes, the Indenture, the Notes or the Note Guarantees may be amended or supplemented as provided in the Indenture. 

  
 6 

 (12) DEFAULTS AND
REMEDIES. In the case of an Event of Default arising from certain events of bankruptcy or insolvency with respect to the Company, any Restricted Subsidiary of the Company that is a Significant Subsidiary or any
group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary, then the principal of and accrued and unpaid interest on all outstanding Notes will become due and payable immediately without further
action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare the principal of and accrued and unpaid interest on the
Notes to be due and payable immediately. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may
direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. The Trustee may withhold from Holders of the Notes notice of any continuing Default
or Event of Default (except a Default or Event of Default relating to the payment of principal, premium, if any, or interest, if any) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal
amount of the then outstanding Notes by notice to the Trustee may, on behalf of all the Holders, rescind an acceleration or waive an existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event
of Default in the payment of principal of, premium, if any, on, or interest, if any, on, the Notes (including in connection with an offer to purchase any Notes). 

(13) TRUSTEE DEALINGS WITH COMPANY. The Trustee, in
its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

(14) NO RECOURSE AGAINST OTHERS. No director, officer,
employee, member, incorporator or stockholder or other owner of any Capital Stock of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture or the Note
Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for
issuance of the Notes and the Note Guarantees. 
 (15) AUTHENTICATION. This Note will not be
valid until authenticated by the manual signature of the Trustee or an authenticating agent. 
 (16)
ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of
survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 (17) CUSIP
NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP
numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other
identification numbers placed thereon. 

  
 7 

 (18) GOVERNING LAW.
THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES. 
 The Company
will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 
 Indigo Natural
Resources LLC 
 600 Travis Street, 

Suite 5500 
 Houston, Texas 77002

 Attention:       Robert W. Hunt, Jr. 

Email: b.hunt@ndgo.com 

  
 8 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

(I) or (we) assign and transfer this Note to:           
                                         
                                         
                                         
                                         
  

                        
                        (Insert assignee’s legal name) 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 

and irrevocably appoint                    
                                         
                                         
                                         
                                         
                         to transfer this Note on the books of the Company. The agent may substitute another to act for
him. 
 Date:                     

 

			
		 	Your Signature:
                                         
                                         
            
		 	                        (Sign exactly as your name appears on the face of this Note)

 Signature
Guarantee*:                                 

 

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

  
 9 

 OPTION OF HOLDER TO
ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Company pursuant to
Section 4.10 or 4.15 of the Indenture, check the appropriate box below: 
 ☐  Section 4.10
                ☐  Section 4.15 
 If
you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.10 or Section 4.15 of the Indenture, state the amount you elect to have purchased: 

$                       
      

Date:                     

 

			
		 	Your Signature:
                                         
                                         
            
		 	                        (Sign exactly as your name appears on the face of this Note)
		
		 	Tax Identification No.:                                
                                         
           

 Signature
Guarantee*:                                       
  
  

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

  
 1 

 SCHEDULE OF EXCHANGES OF
INTERESTS IN THE GLOBAL NOTE * 
 The following exchanges of a
part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 

 

									
	 Date of

Exchange
	 	 Amount of

decrease in
 Principal

Amount of

this Global Note
	 	 Amount of

increase in
 Principal

Amount of

this Global Note
	 	 Principal

Amount
 of this Global

Note following
 such decrease

(or increase)
	 	 Signature of

authorized
 officer of Trustee

or Custodian

  

	*	 This schedule should be included only if the Note is issued in global form. 

  
 1Exhibit 10.1

    

     

    

    CONFIDENTIAL SEPARATION AND GENERAL RELEASE AGREEMENT

     

    This Confidential Separation and General Release Agreement (“Agreement”) is entered into by Chad Zaring (“Employee”) and Venus Concept
      Inc. (“Employer” or “Company”). Employer and Employee may hereinafter be
      individually referred to as a “Party” and together as the “Parties.”

     

    WHEREAS, Employee had been employed by Employer pursuant
      to the terms of an employment agreement between the Parties, dated January 24, 2020 (“Employment Agreement”), a copy of which is attached hereto as Exhibit A;

     

    WHEREAS, Employee and Employer agree that Employee’s last
      day of employment with Employer shall be October 15, 2021 (the “Separation Date”);

     

    WHEREAS, the Parties, desire to settle fully and finally
      all matters that have been raised, or could have been raised, between them, including but in no way limited to any matters that may arise out of Employee’s employment with the Employer and Employee’s separation therefrom; and

     

    NOW, THEREFORE, in consideration of the mutual covenants
      and promises contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is acknowledged, Employee and Employer agree as follows:

     

    1.         Final Pay. As of the Separation Date, Employee will be relieved of all job responsibilities in that Employee stopped performing Employee’s job. Upon Employee execution this Agreement, Employee shall be paid
        as follows:

     

    	(a)	
            On or before October 31, 2021, Employee’s unpaid regular gross salary through the Separation Date in the amount of 12,500, less applicable federal and state tax
              withholding and customary and statutory deductions.

          

     

    	(b)	
            On or before October 31, 2021, Employee’s earned and payable but unpaid commissions for Q3 under the terms of the Employment Agreement and Amendment and the
              applicable commission plan will be paid. Amount to be determined once Q3 financial reporting is finalized, amount paid will be less applicable federal and state tax withholding and customary and statutory deductions, which is the gross amount
              of.

          

     

      

    2.       Expenses. Employer will reimburse Employee for all authorized, reasonable and necessary business-related expenses incurred by the Employee up to and including the Separation Date pursuant to Company policy, provided Employee submits
        a manual expense report, with supporting receipts, to Anna Georgiadis, Vice President, Global Human Resources, ageorgiadis@venusconcept.com, 235 Yorkland Blvd., Suite 900, Toronto, Ontario, M2J 4Y8, Canada, by 5:00 pm EST on October 29 , 2021.

     

    3.         Equity. Employee’s options will continue to vest until March 31, 2022. As of this date, all unvested options will expire and Employee’s vested options will be subject to the Venus Concept Inc. 2019 Option
        Plan terms as it relates to option exercise.

    

    

    
      
        

    

    
    4.          Benefits. Employee’s participation in all Company benefit plans and compensation arrangements, of any nature, will cease as of the Separation Date except as provided herein.

     

    	(a)	
            Irrespective of whether Employee executes this Agreement, Employee’s participation in the Company’s group health insurance plan(s) will continue with the same
              coverage levels and on the same terms and conditions through the end of the day on October 31, 2021.

          

     

    	(b)	
            In consideration for Employee accepting this Agreement, provided it becomes effective under Paragraph 9(g), Employee will be able to continue Employee’s
              participation in the Company’s group health insurance plans with the same coverage levels and on the same terms and conditions for an additional 3 months, through the end of the day on December 31, 2021, or upon securing alternative
              employment, whichever occurs first.

          

     

    	(c)	
            After October 31, 2021, or December 31, 2021, as applicable, Employee may be eligible to continue coverage through the Consolidated Omnibus Budget Reconciliation
              Act (“COBRA”), or state law equivalent, at Employee’s own expense. Further information regarding COBRA continuation of coverage, or state law equivalent,
              will be supplied to Employee under separate cover.

          

     

    Employee may exercise all rights to other vested benefits, if any, in accordance with the written terms of the applicable plans.

     

    

    5.         Unemployment Compensation. As further consideration for Employee’s acceptance of the terms and conditions of this Agreement, and provided it becomes effective under Paragraph 9(g), Employer agrees that if
        Employee files a claim for unemployment compensation benefits, Employer will not contest such claim.

     

      

    6.          Neutral Reference. As additional consideration for Employee’s acceptance of the terms and conditions of this Agreement, and provided it becomes effective under Paragraph 9(g), Employer further agrees and
        covenants that, provided Employee’s future or potential employer contacts only the Company’s Vice President, Global Human Resources, the Company will furnish only the following information in response to reference requests: (i) verification of the
        fact that Employee worked for Employer; (ii) the dates of Employee’s employment with Employer; and (iii) the title of Employee’s position while employed with Employer. Employer further agrees that it will furnish no additional information in
        response to appropriately directed reference requests, except as otherwise required by law, as specifically requested in advance by Employee in writing, or as already agreed by Employee with regard to Employer’s disclosure of the terms of
        confidentiality, invention assignment, and/or non- solicit and non-complete agreements.

     

    7.        General Release. Employee, for and on behalf of Employee and Employee’s heirs, beneficiaries, executors, administrators, attorneys, successors, and assigns shall forever waive, release, discharge, and
        covenant not to sue Employer, its past, present, former and future parent corporations, owners, or affiliates, including, but not limited to, Employer, and its subsidiaries, divisions, successors, licensees, franchisees, assigns, and employees,
        officers, directors, agents, insurers, and attorneys thereof (hereinafter also referred to as the “Released Parties”), from and for any and all of Employee’s potential

      or actual causes of action, claims, demands, judgments, damages, attorneys’ fees, expenses, costs, and liabilities of any kind whatsoever arising from the beginning of time up to and including the Effective Date (as defined in Paragraph 9(g), below)
      of this Agreement, which are known, unknown, fixed, or contingent, including, but not limited to:

     

      

    
      2

      
        

    

    	(a)	
            Claims that Employer or any of the Released Parties violated or breached any personnel policies, handbooks, contracts of employment (oral or written), implied
              contracts, any other contracts or agreements, bonus or incentive or commission plans, separation pay agreements (excluding this Agreement), confidentiality agreements, or covenants of good faith and fair dealing;

          

     

    	(b)	
            Claims arising out of laws governing the terms and conditions of employment, such as laws relating to the payment of wages or discrimination, retaliation, and/or
              harassment on the basis of age, race, color, sex, national origin, ancestry, disability, medical condition, religion, marital status, parental status, sexual orientation, veteran status, entitlement to benefits, or any other characteristic
              protected by any applicable local, state or federal law, ordinance or regulation, including but not limited to Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1966, the Civil Rights Act of 1971, the Civil Rights Act of
              1991, the Age Discrimination in Employment Act, the National Labor Relations Act, the Americans with Disabilities Act, the Family Medical Leave Act (FMLA)
                (regarding existing but not prospective claims), the Fair Labor Standards Act (FLSA), the Equal Pay Act, the Employee Retirement Income Security
                Act (ERISA) (regarding unvested benefits), the Civil Rights Act of 1991, Section 1981 of U.S.C. Title 42, the Fair Credit Reporting Act (FCRA), the Worker Adjustment and Retraining Notification (WARN) Act, the National Labor Relations Act
                (NLRA), the Age Discrimination in Employment Act (ADEA), the Uniform Services Employment and Reemployment Rights Act (USERRA), the Genetic Information Nondiscrimination Act (GINA), the Immigration Reform and Control Act (ICRA), the
                Tennessee Human Rights Act (THRA), the Tennessee Disability Act (TDA), the Tennessee Public Protection Act (TPPA), all including any amendments and their respective implementing regulations, and any other federal, state, local, or foreign
                law (statutory, regulatory, or otherwise) that may be legally waived and released; however, the identification of specific statutes is for purposes of example only, and the omission of any specific statute or law shall not limit the scope
                of this general release in any manner;

          

     

    	(c)	
            Claims involving alleged violations of public policy or common law, including but not limited to claims for retaliatory discharge, whistleblowing, negligent
              hiring or supervision, severance pay, breach of contract, wrongful termination, tort, personal injury, invasion of privacy, defamation, intentional infliction of emotional distress, negligent infliction of emotional distress, adverse
              employment/personnel action, intentional interference with contract, negligence, detrimental reliance, concealment, fraud, misrepresentation, and/or promissory estoppel or any other common law tort, battery or contract causes of action;

          

     

    	(d)	
            Claims, including whistleblower and qui tam actions and including any right to recover personal gain, attorney fees, and expenses with respect to any such
              claims, under any federal, state, or local laws that regulate participation in any federal or state healthcare program, including, without limitation, the federal Antikickback Statute, 42 U.S. Code § 1320a–7b, the Physician Self-Referral
              Statute, 42 U.S.C. 1395nn, and the federal False Claims Act, 31 U.S.C. § 3729; and

          

     

    

    
      3

      
        

    

    	(e)	
            However, this general release and waiver of claims excludes, and the
                Employee does not waive, release, or discharge: (A) any right to file an administrative charge or complaint with, or testify, assist, or
                participate in an investigation, hearing, or proceeding conducted by, the Equal Employment Opportunity Commission, or other similar federal or state administrative agencies (a “Government Agency”) that involves any of the Released Parties, although the Employee waives
                any right to monetary relief related to any filed charge or administrative complaint; (B) claims that cannot be waived by law, such as claims for unemployment benefit rights under the Tennessee Employment Security Law and workers'
                compensation under the Tennessee Workers' Compensation Law; (C) any right to file an unfair labor practice charge under the National Labor Relations Act; (D) protections against retaliation under the Taxpayer First Act (26 U.S.C. §
                2623(d)); (E) any rights to vested benefits, such as pension or retirement benefits, the rights to which are governed by the terms of the applicable plan documents and award agreements, and (F) any other claims which may not be raised as a matter of law. For the avoidance of doubt
              and to the extent permitted by law, Employee agrees to waive the right to receive future monetary recovery directly from Employer, including Employer payments that result from any complaints or charges that Employee files with any Government
              Agency or that are filed on Employee’s behalf. Employee waives any right to any monetary recovery or other relief from Employer should any Government Agency pursue claims which arose on or before the date Employee signed this Agreement.

          

     

     

    EMPLOYEE FULLY UNDERSTANDS THAT IF EMPLOYEE NOW HAS OR EVER HAD ANY KIND OF RELEASABLE LEGAL CLAIMS WHATSOEVER AGAINST THE
      COMPANY OR ANY OF THE RELEASED PARTIES, EMPLOYEE IS GIVING THEM UP FOREVER BY ENTERING INTO THIS AGREEMENT, EVEN IF EMPLOYEE DOES NOT KNOW ABOUT THE CLAIMS WHEN EMPLOYEE ENTERS INTO THIS AGREEMENT. EMPLOYEE EXPRESSLY WAIVES ALL RIGHTS THAT EMPLOYEE
      MAY HAVE UNDER ANY LAW THAT IS INTENDED TO PROTECT EMPLOYEE FROM WAIVING UNKNOWN CLAIMS AND EMPLOYEE UNDERSTANDS THE SIGNIFICANCE OF DOING SO.

     

    8.          Covenant Not to Sue. Employee, for and on behalf of Employee and Employee’s heirs, beneficiaries, executors, administrators, attorneys, successors, and assigns, represents and agrees that, except to the
        extent such right may not be waived by law, Employee has not and will not commence or cause to be commenced any legal action or lawsuit or otherwise assert or cause to be asserted any legal claim seeking relief for any claim released or waived
        under Paragraph 7, above. Employee agrees and represents that Employee will not be a class or collective action representative against any of the Released Parties based on the claims released in this Agreement, nor will Employee allow any such
        causes of action to be brought on Employee’s behalf. Except as otherwise prohibited by applicable law, any lawsuit filed in violation of this Agreement by Employee, for and on behalf of Employee or Employee’s heirs, beneficiaries, executors,
        administrators, attorneys, successors, or assigns shall automatically constitute a breach of this Agreement. Unless otherwise prohibited by applicable law, Employee

      hereby assigns to Employer the right to any and all monetary proceeds the Employee might be entitled to or receives as the result of any claim that may be filed by any person or entity against the Released Parties relating to the claims released in
      this Agreement.

     

      

    
      4

      
        

    

    9.         Entire Consideration. Employee agrees that the Final Pay in Paragraphs 1 - 3, benefits provided in Paragraph 4(b), and promises made in Paragraphs 5 and 6, above, (the “Consideration” for this Agreement) will be the entire Consideration provided to Employee under this Agreement, and that Employee will not seek any further remuneration from Employer for any other wages,
        damages, injuries, penalties, expenses, actions, attorneys’ fees or costs either individually or as part of a class in connection with the matters encompassed by the Agreement. Both Employer and Employee agree that Employee is not otherwise
        entitled to the Consideration referenced in Paragraphs 1, 2, 3, 4, 5 and 6 of the Agreement and that it constitutes sufficient consideration for the promises and releases contained in this Agreement.

     

    10.       Additional Representations and Covenants by Employee. In support of this release and as an express condition of the Company’s willingness to enter into this Agreement and provide the consideration specified above, Employee
        furthermore covenants and represents that: (i) with payment of the amounts set forth in Paragraph 1 of this Agreement, Employee has or will have been paid all wages owed to Employee by the Company under the Fair Labor Standards Act and/or any other
        governing wage and hour law; and (ii) Employee has reported to the Company any and all known work-related injuries incurred by Employee during employment that could be the basis for a workers’ compensation or other claim against the Company or any
        of the Released Parties as of the signing of this Agreement. Employee furthermore acknowledges that Employee has no knowledge of any actions or inaction by the Released Parties or by Employee that Employee reasonably believes could possibly
        constitute a basis for any claimed violation of any federal, state or local law, any regulation or rule promulgated by any administrative body or any common law.

     

      

    11.        Cooperation. Employee agrees to cooperate fully with the Company and its legal counsel (including inside and outside counsel) in connection with any action, proceeding, or dispute arising out of matters in
        which Employee was directly or indirectly involved while serving as an employee of the Company. This cooperation shall include, but not be limited to, meeting with, and providing information to, the Company and its legal counsel, maintaining the
        confidentiality of any past or future privileged communications with the Company’s legal counsel, and being available to testify truthfully by affidavit, declaration, in depositions, or in any other forum on behalf of the Company. The Company
        agrees to reimburse Employee for Employee’s reasonable and necessary out-of-pocket expenses associated with such cooperation.

     

    In the event Employee receives a subpoena, deposition notice, interview request, or any other inquiry, process or order from any person or entity
      relating to any civil, criminal or administrative investigation, suit, proceeding or other legal matter relating to the Company, Employee agrees to promptly notify the Company’s Legal Department at legal@venusconcept.com, 235 Yorkland Blvd., Suite 900, Toronto, Ontario, M2J 4Y8, Canada, (888) 907-0115 ext. 518, by telephone and in writing. Additionally, in the event Employee receives such an inquiry which may
      reasonably be construed to require the disclosure of Confidential Information, Employee shall promptly: (a) notify the Company’s General Counsel/Head of Legal of the document or information being requested; (b) provide the Company’s General
      Counsel/Head of Legal with a copy of the inquiry; and (c) provide reasonable cooperation with the Company to protect Confidential Information. Nothing in this Paragraph 12 shall be construed to prohibit Employee from testifying truthfully in any
      legal proceeding.

     

    

    
      5

      
        

    

    12.        Confidential Information.

     

    	(a)	
            Employee acknowledges that in the course of Employee’s employment with Employer, Employee gained access to and gained possession of Employer’s Confidential
              Information (as defined below). Employee agrees to keep all Confidential Information strictly confidential and not to use Confidential Information for any purpose or disclose Confidential Information to any person or entity either during the
              period of Employee’s employment with Employer, except as required by law, or as expressly authorized by and for the benefit of Employer and in the course of Employee’s duties, or at any time after Employee’s employment with Employer ends.
              Employee acknowledges that Employee is not prohibited, however, from reporting possible violations of law in good faith to government agencies or making other disclosures that are compelled by the legal process or protected under the
              whistleblower provisions of federal or state law or regulation. Employee understands and acknowledges that if Employee violates any provisions of this Paragraph, Employer is entitled to all remedies available under statutory and common law.

          

     

    	(b)	
            The phrase “Confidential Information” includes, but is not limited to, proprietary information, technical data, trade secrets or know-how, including, but not
              limited to, research, product plans, products, services, pricing and pricing strategies, customer lists and customer information (including, but not limited to, customers of Employer with whom Employee had contact during Employee’s employment
              with Employer), software, inventions, processes, formulas, technology, designs, drawings, engineering, marketing, finances, or other business information disclosed to Employee by Employer either directly or indirectly in writing, orally, or
              by drawings or observation of parts of equipment.

          

     

    

    	(c)	
            Employee shall not be held criminally or civilly liable under any U.S. Federal or State trade secret law for the disclosure of a trade secret that is made (a)
              (i) in confidence to a U.S. Federal, State or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a
              complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. If Employee files a lawsuit for retaliation by the Company for reporting a suspected violation of law may disclose the Company’s trade
              secrets to his or her attorney and use the trade secret information in the court proceeding if the individual: (y) files any document containing the trade secret under seal; and (z) does not disclose the trade secret, except pursuant to court
              order. Nothing in this Paragraph affects the scope of released claims or promises set forth in Paragraphs 7, 8, and 9 of this Agreement.

          

     

    

    
      6

      
        

    

    
      	(d)	
              By signing this Agreement, Employee incorporates and reaffirms any confidentiality obligations of

                Employee set forth in the Non-Competition, Non-Solicitation, Confidentiality and Assignment of Inventions Agreement executed by Employee on January 24, 2020, and attached hereto as Exhibit B.

            

    

    

    

    13.        Confidentiality of Agreement. Employee and Employer agree that the terms and conditions of this Agreement shall remain strictly confidential. Employee further agrees not to disclose or publish to any third party, other
        than Employee’s legal counsel, tax advisor, accountant, or immediate family members, the terms and conditions of this Agreement or the content of any payments made to Employee or on Employee’s behalf as a result of this Agreement, except as may be
        required by law.

     

      

    14.        Non-Disparagement. Employee agrees and covenants that the Employee will not at any time make, publish, or communicate to any person or entity or in any public forum any defamatory or disparaging remarks,
        comments, or statements concerning the Company, its affiliates or the Released Parties or their respective businesses, or any of their respective employees, officers, and existing and prospective customers, suppliers, investors and other associated
        third parties. This Section 15 does not, in any way, restrict or impede the Employee from exercising protected rights to the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid
        order of a court of competent jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation, or order. The Employee shall promptly provide written notice of any such order to the
        Company’s Legal Department at legal@venusconcept.com.

     

      

    15.       Restrictive Covenants. By signing this Agreement, Employee incorporates and reaffirms the non-competition and non-solicit obligations of Employee set forth in the Non-Competition, Non- Solicitation, Confidentiality and Assignment of
        Inventions Agreement executed by Employee on January 24, 2020 and attached hereto as Exhibit B.

     

    16.        Return of Documents and Property. Any documents and property in any way related to Employer and/or its customers remain the sole and exclusive property of Employer. Employee warrants and represents that
        Employee has or will by the end of the day on October 8, 2021, return to Employer all such documents and property in Employee’s possession including, but not limited to, any Employer issued technology devices, e.g., phones and laptops, electronic
        storage devices, e.g., thumb and flash drives, and all Employer sales, art, marketing, promotional, and other materials and documents, including all Confidential Information, and certify, in writing, to the Company that all such property has been
        returned. The foregoing certification shall be made to the Company’s Vice President, Global Human Resources, ageorgiadis@venusconcept.com, 235 Yorkland Blvd., Suite 900, Toronto, Ontario, M2J 4Y8, Canada.

     

    17.        Enforcement. If Employee breaches any promises in this Agreement, Employer will have, without limiting any other remedy or right available at law or in equity, the right to a temporary and permanent injunction
        restraining any such breach, without any bond or security being required. In any such proceeding, Employee waives any defense that Employer had an adequate remedy at law or that the injury suffered as a consequence of such breach is not
        irreparable. The prevailing party will also be entitled to recover reasonable attorney’s fees and other costs in a proceeding to enforce any of the provisions of this Agreement.

     

        

    
      7

      
        

    

    18.        Governing Law and Waiver of Jury Trial. This Agreement, the rights and remedies provided hereunder, and all claims, disputes and controversies arising hereunder or related hereto, shall be governed by and
        construed under and enforced in accordance with the internal laws of the State of Tennessee, without reference to choice of laws or conflict of laws principles. The Parties consent to the jurisdiction of any state or federal court located within
        Davidson County, Tennessee, and further waive any objection to jurisdiction and venue of any action instituted hereunder, and further agree not to assert any defense based on lack of jurisdiction or venue, including forum non conveniens. Personal
        service of any summons, complaint or other process may be made by any means permitted by law. Venue of any action brought to enforce or relating to this Agreement shall be brought exclusively in the state or federal courts in Davidson County,
        Tennessee. EACH PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY LITIGATION, DIRECTLY OR INDIRECTLY, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY TRANSACTION
        CONTEMPLATED BY THIS AGREEMENT. EACH PARTY: (A) CERTIFIES THAT NO REPRESENTATIVE OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; AND (B)
        ACKNOWLEDGES THAT IT AND THE OTHER PARTY BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 20 (GOVERNING LAW AND WAIVER OF JURY TRIAL).

     

    19.        Binding Agreement. This Agreement shall be binding on the Parties and upon their heirs, administrators, representatives, executors, successors and assigns and shall inure to their benefit and to that of
        their heirs, administrators, representatives, executors, successors and assigns.

     

    20.       Attorneys’ Fees. In the event of a default or breach of this Agreement, the Parties expressly acknowledge that any and all attorneys’ fees and expenses incurred in any proceeding brought to enforce this
        Agreement shall constitute part of the damages recoverable for any such breach. Therefore, the prevailing party in any action to enforce this Agreement, in addition to any other relief granted, shall be entitled to recover reasonable cost,
        including, without limitation, attorneys’ fees, expenses and costs.

     

    21.       Entire Agreement. This Agreement contains the entire agreement and understanding between Employee and Employer concerning matters it describes, and supersedes all previous agreements, discussions,
        negotiations, understandings, and proposals of the Parties, with the exception of any confidentiality agreement, invention assignment agreement, non-solicit and non-complete agreement, which remain in full force and effect, regardless of whether
        expressly incorporated into this Agreement by reference herein. This Agreement may not be modified, altered or changed except by an express written document signed by all Parties hereto, wherein specific reference is made to this Agreement.

     

    22.        Interpretation of Agreement. The Parties agree that they each have participated in the drafting of this Agreement, and that, as a result, this Agreement shall not be construed in favor of or against any party hereto.

     

        

    
      8

      
        

    

    23.        Severability. The paragraphs and provisions of this Agreement are severable; if any paragraph or provision is found unenforceable, the remaining paragraphs and provisions will remain in full effect.

     

    24.        Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

     

      

    25.        Voluntary Agreement. By their respective signatures, the Parties acknowledge that: (a) they have carefully read and fully understand all the provisions of this Agreement; (b) they are voluntarily entering into this
        Agreement with full knowledge of the rights they may be waiving; (c) they have entered into this Agreement knowingly and voluntarily and based on their own judgment; and (d) they have not relied upon any representations or promises not contained in
        this Agreement.

     

    IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the
      last date specified below.

     

    	 	
            CHAD ZARING

          	 	
            VENUS CONCEPT USA, INC.

          
	 	 	 	 

    	 	
            Signed:

          	
            /s/ Chad Zaring

          	 	 	
            By:

          	
            /s/ Domenic Serafino

          	 

    	 	
            Date:

          	
            Oct 7, 2021

          	 	
            Name:

          	
            Domenic Serafino

          
	 	 	

          	 	
            Title:

          	
            Chief Executive Officer

          

    	

          	 	 	
            Date:

          	
            Oct 7, 2021

          

     

     

    

     9

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