Document:

EX-10.7

 Exhibit 10.7 
  

 
  
  

					
		  	 545 Promenade du Centropolis, Suite 100    

Laval, Québec, Canada H7T 0A3    

neptunecorp.com    
	  	 Tel. : +1 450 687 2262

Fax. : +1 450 687 2272

Toll-free : 1 888 664 9166

 CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT BOTH (I) IS
NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. SUCH EXCLUDED INFORMATION HAS BEEN MARKED WITH “[***]. 

November 14, 2021 
 Michael
Cammarata 
 146 Spyglass Lane 

Jupiter, FL 33477 
 Re:
Employment Agreement / Grant of Awards 
 Dear Michael, 

Reference is made to the Employment Agreement, dated as of July 6, 2019 by and among you (“You” or the “Executive”)
and Neptune Solutions Bien-Être Inc. and Neptune Holding USA, Inc. (collectively, the “Company”), as amended by that certain letter agreement dated as of January 4, 2021 (as amended, the
“Existing Agreement”). 
  

	 	1.	 In consideration of the Executive entering into this letter agreement (the “Second
Amendment”), the Company and the Executive agree with the following two alternative approaches: 

Approach “A”: If the Company announces (the “Announcement) its entry into a binding agreement with
[***], as approved by the Board of Directors of the Company, on or before December 31, 2021, then: 
  

	 	•	 	 The Company will pay the Executive a gross cash payment of US$6,884,353; and 

 

	 	•	 	 Neptune Wellness Solutions Inc. (“Neptune Wellness”) will grant an award to the Executive of
8,500,000 options to purchase common shares of Neptune Wellness (the “Options”) with the following terms and conditions: 

  

	 	•	 	 100% vested immediately upon grant; 

 

	 	•	 	 Expiring 120 days following the date of grant; 

 

	 	•	 	 Exercise price shall be equal to the 10-day volume weighted average
price of the common shares of Neptune Wellness prior to the date of grant as reported by the higher of the TSX or Nasdaq (calculated by dividing the total value by the total volume of securities traded for the ten (10) trading days before the
date of grant). 

  

	 	•	 	 The Options will be granted promptly following the Announcement (and no later than two full trading days
following the Announcement). 

 Approach “B”: If there is no Announcement on or before
December 31, 2021, then: 
  

	 	•	 	 Negotiation in good faith for up to 30 days following December 31, 2021, at the end of which time:

  

	 	•	 	 (i) on January 31, 2022, Neptune Wellness shall grant the Executive a gross amount of US$3,442,177
in vested restricted share units (the “RSUs”) pursuant to Neptune Wellness’ Equity Incentive Plan, with the aggregate number of shares determined by dividing US$3,442,177 by the 10-day
volume weighted average price of the common shares of Neptune Wellness prior to January 31, 2022 as reported by the higher of the TSX or Nasdaq (calculated by dividing the total value by the total volume of securities traded for the ten
(10) trading days before January 31, 2022) (the “1/31/2022 VWAP”); provided that, if the Company is not able to make the grant in full, then the Company shall pay the balance in cash on January 31, 2022; and

  

	 	•	 	 (ii) the Executive shall receive the gross amount of US$3,442,176 in the form of either vested RSUs, with
the aggregate number of shares determined by dividing US$3,442,176 by the 1/31/2022 VWAP, or cash paid by the Company. Any RSUs or cash paid under this clause (ii) shall occur as soon as reasonably practicable after January 31, 2022 but no
later than July 31, 2022. 

  

	 	•	 	 The Executive’s right to receive the amounts hereunder shall survive the termination of employment of the
Executive. 

  

	 	•	 	 The Company shall use its best efforts ability to accelerate the grant and vesting of the RSUs, if applicable.

  

	 	2.	 The parties agree that, upon the satisfaction of either Approach “A” or “Approach
“B”, the Company shall have no further obligation to the Executive with respect to Section 4.8(v) and Section 4.9(b) of the Existing Agreement with the respect only to the Executive’s third contractual year.

  

	 	3.	 For the avoidance of doubt, the foregoing does not limit the Company’s obligations to indemnify the
Executive pursuant to any indemnity agreement entered into between the Executive and the Company or such other indemnification obligations as may be specified in the Company’s charter documents from time to time. 

 

	 	4.	 Subject to the foregoing, all terms and conditions of the Existing Agreement (including Section 28.2
thereof) shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of the parties thereto and the parties hereby reaffirm and ratify the Existing Agreement as amended by this Second
Amendment. 

 With respect to all amounts payable hereunder, the Company shall withhold US taxes from all such amounts to
the maximum extent permitted by law and provide the Executive the applicable net amount. The terms, provisions and conditions of this Second Amendment shall be binding 

 
upon and inure to the benefit of each respective party and their respective legal representatives, successors and assigns. The parties understand and agree that this Second Amendment is
contingent upon approval by the Board of Directors of the Company. If this Second Amendment is not so approved, then the agreements made hereunder are null and void ab initio, and each of the parties fully reserve their rights under the
Existing Agreement. 
 If the foregoing is acceptable, please execute where indicated below and return to the Company. 

Sincerely, 
 NEPTUNE
SOLUTIONS BIEN-ÊTRE INC. 
  

	
	 /s/ Randy Weaver

	 Name: Randy Weaver

	 Title: Interim Chief Financial Officer

	
	 NEPTUNE HOLDINGS USA, INC.

	
	 /s/ Randy Weaver

	 Name: Randy Weaver

	 Title: Interim Chief Financial Officer

 Accepted and Agreed: 
  

	
	 /s/ Michael Cammarata

	 Michael CammarataEX-10.8

 Exhibit 10.8 
  

 
 Interim Services Agreement 

September 23, 2021 
 John
Moretz, Chairman of the Board 
 Neptune Wellness Solutions, Inc. 

545 Promenade Du Centropolis 

Suite 100 
 Laval A8 H7T 0A3 

Canada 
 Via email:
j.moretz@neptunecorp.com 
 Dear John: 

CSuite Financial Partners (“CSuite”) is pleased that Neptune Wellness Solutions, Inc., a corporation organized under the laws of
Quebec, (“Neptune,” “Company,” “you” or “your”) has selected CSuite to provide you with an Interim Chief Financial Officer. The services (the “Services”) are summarized in this letter agreement and
Exhibit A attached hereto and incorporated herein (collectively, the “Agreement”) and will be performed by Randy Weaver (the “Resource). The Services will begin on or about September 27, 2021. 

Engagement. The Resource will be a mutually approved CSuite partner or employee, qualified to perform the Services.
CSuite will be solely responsible for determining the terms and payment of compensation and benefits for the Resource. You will be solely responsible for providing the Resource
day-to-day supervision and direction necessary for the successful and timely completion of the Services. CSuite will have no oversight, control, or authority over the
Resource with respect to the Services. Company acknowledges that it is solely responsible for determining the sufficiency of the Services for its purposes. The Company will designate Michael Cammarata, CEO, to be responsible for overseeing and
reviewing the Services and the Resource will report directly to such designated individual during the course of this engagement. 

Services. The Company hereby engages CSuite and the Resource to provide Services to the Company and the Company’s
subsidiaries. Resource shall devote substantially all his working time and efforts to the business and affairs of the Company and its affiliates and understands that as the Chief Financial Officer of a publicly traded corporation, Resource is an
officer of the Company and as such, owes a fiduciary duty to the Company and its shareholders and for compliance with US and Canadian securities laws and regulations, including, without limitation, compliance with Sarbanes Oxley and the signing by
Resource as CFO of the Company’s securities filings. Resource further understands and agrees that his duties include the following: 
  

	 	(a)	 Resource will consult on various accounting and financial reporting matters with the Company’s Board of
Directors, the officers of the Company, and the Company’s administrative staff, at reasonable times, and will act as an external CFO providing the Company with the necessary support to complete the financial reporting responsibilities of the
Company, to the reasonable satisfaction of the Company. Resource shall have such authority and power, and responsibilities, as are 

	 	 customary for the position of CFO, including, without limitation, being authorized to sign, along with at
least one of such person designated by the Board of Directors of the Company (the “Board”), for and on behalf of the Company, all checks and negotiable instruments and all other documents required or that may be required, from time to
time, by banking institutions as well as being appointed to do business with Computershare Investor Services on behalf of the Company; 

  

	 	(b)	 Resource shall be responsible for the accuracy of the Company’s financial results, including reviewing
interim and annual financial statements and preparation for the Company’s year-end audit of its financial statements; 

 

	 	(c)	 Negotiation, review, execution and approval of contracts with employees, consultants and third parties; and

  

	 	(d)	 Resource may have additional duties as determined by the Board from time to time, consistent with the
foregoing. 

 Fee. You will pay CSuite an hourly fee of $225.00 USD. 

As a condition to providing the Services, CSuite requires a security deposit of $15,000 (the “Deposit”), which will only be used by
us under the limited circumstances described on Exhibit A. The Deposit is due upon the execution of this Agreement. 
 If the Resource is
traveling to the Company for work, his hourly rate shall be billed at 50%. 
 Hiring Fees. You may hire the Resource at
any time as your employee during the term of this engagement. The placement fee due upon hiring the Resource is 25% of the new employee’s starting base. 

Expenses. You will reimburse the Resource directly for all reasonable and customary travel and out-of- pocket expenses incurred in connection with this Agreement. 
 Compliance with Policies and
Laws. Resource shall abide by all the Company’s policies and procedures, including without limitation Company’s code of business conduct and ethics. Resource will comply, with all laws applicable to the Company, including
without limitation securities laws and regulations. 
 CSuite appreciates the opportunity to serve you and believes this Agreement
accurately reflects our mutual understanding of the terms upon which the Services will be provided. CSuite would be pleased to discuss this Agreement with you at your convenience. 

If the foregoing is in accordance with your understanding, please sign a copy of this Agreement and return it to my attention. 

 

							
	 Sincerely,
	 		 	 Accepted & agreed:

		 		 	 Neptune Wellness Solution, Inc.

				
	 /s/ Arthur J. Cohen
	 		 		 	
				
		 		 	 Sign:
	 	 /s/ John Moretz

	 Arthur J. Cohen
	 		 		 	
	 Founder, National Managing Partner
	 		 		 	
				
		 		 	 Name:
	 	 John Moretz, Chairman of the Board

				
		 		 	 Date:
	 	 September 23, 2021

  

  
  

316 44th St. • Manhattan Beach, CA 90266 • www.CSuiteFinancialPartners.com

 RATIFICATION AND CONSENT 

I, Randy Weaver, have read and am familiar with all the terms of the foregoing Interim Services Agreement (the
“Agreement”) and in order to induce the parties to enter into said Agreement, I consent to the execution thereof, ratify and confirm in my individual capacity all terms and conditions thereof, agree to be bound by all terms and conditions
thereof that relate to me as an individual and agree that I shall render all services and perform all obligations as are necessary to enable CSuite Financial Partners and to comply with their obligations under said Agreement. 

 

							
	 Dated 9/23/2021
	 		 		 	 /s/ Randy Weaver

		 		 		 	 Randy Weaver

  
  

316 44th St. • Manhattan Beach, CA 90266 • www.CSuiteFinancialPartners.com

 Exhibit A 

Interim Services Agreement Standard Terms and Conditions 

1. Payment Terms. CSuite will prepare invoices in arrears on the 1st and 16th of the month. Payments to CSuite shall be made within five (5) days of receipt of invoice by check or by electronic transfer in accordance with the instructions set forth below or such
alternative instructions as provided by CSuite from time to time in its sole and absolute discretion. Any amounts not paid when due will be immediately assessed a service charge equal to the lesser of (i) one and
one-half percent (1.5%) or (ii) the maximum amount allowed under applicable law with a similar charge assessed every ensuing thirty (30) day period until such amounts are paid in full. 

2. Deposit. In the event of a breach of this Agreement by the Company, CSuite will be entitled to apply the Deposit to its or the
Resource’s damages resulting from such breach. Upon the expiration or termination of this Agreement, CSuite will return to the Company the balance of the Deposit remaining after application of any amounts to damages. 

3. Effective Dates. This Agreement will be effective as of the earlier of (i) the date CSuite begins providing Services to the
Company, and (ii) date hereof. 
 4. Termination. Either party may terminate this Agreement by providing the other party a
minimum of five 
 (5) days written notice. CSuite will continue to provide, and the Company will continue to pay for, the Services until the
effective date of such termination; provided, however, that in the event CSuite terminates this Agreement, CSuite will ensure that Resource will continue to provide CFO services to the Company (which the Company shall pay for in accordance with the
terms hereof), if requested by the Company, for a period of 30 days from the date it provides such notice.. 
 Notwithstanding the foregoing,
CSuite may terminate this Agreement immediately upon written notice to the Company if: (i) the Company is engaged in or asks CSuite or any Resource to engage in or ignore any illegal or unethical activity, or (ii) the Company fails to pay
any amounts due to us under the Agreement when due, and the Company may terminate this Agreement immediately upon written notice to the CSuite if: (i) the Resource is engaged in or asks the Company or any of its employees, directors or
affiliates to engage in or ignore any illegal or unethical activity.. In the event that the Resource ceases to be a Partner or employee of CSuite, or becomes incapacitated in a manner that renders the Resource unable to provide materials Services,
upon the mutual agreement of the parties, the Resource may be replaced by another CSuite professional. 
 5. Hiring the Resource after
Termination of the Agreement. If, within the twelve (12) month period following the termination or expiration of this Agreement, Company or any of its parents, subsidiaries or affiliates employs any Resource, or engages any Resource as an
independent contractor (collectively, the “Retention”), Company will promptly pay CSuite a placement fee in an amount equal to twenty-five percent (25%) of CSuite’s Annualized Fees (as defined below) within 30 days of the Retention.
For purposes herein, “Annualized Fees” means the annualized base compensation if hired as an employee. 
 6. Warranties and
Disclaimers. Except as otherwise expressly set forth herein, it is understood that CSuite does not have any obligation, contractual or otherwise, to Company other than to provide the Services using commercially reasonable efforts in accordance
with industry standards. CSuite disclaims all representations and warranties, whether express, implied or statutory, including, but not limited to any warranties of quality, performance, merchantability, or fitness of use or purpose. Without
limiting the foregoing, CSuite makes no representation or warranty with respect to the Resource or the Services provided hereunder, and understands that the Resource will report to and take instructions from the Company CEO and will not be
responsible for any action 

  
  

316 44th St. • Manhattan Beach, CA 90266 • www.CSuiteFinancialPartners.com

 taken by you in following or declining to follow any of the Resource’s advice or
recommendations. The Services provided by CSuite and the Resource hereunder are for the sole benefit of Company and not any third parties. The Services will not constitute an audit, review, opinion, or compilation, or any other type of financial
statement reporting or attestation engagement that is subject to the rules of the AICPA or other similar state or national professional bodies or laws and will not result in an opinion or any form of assurance on internal controls. It is incumbent
on you to report any unsatisfactory performance of the Resource on a timely basis. If you are unsatisfied with the performance of the Resource, you may terminate the Resource or seek a replacement Resource. All services performed up through the
notification of unsatisfactory performance will be considered valid and collectible. 
 7. Limitation of Liability and Indemnity. 

(a) CSuite’s liability in any and all categories and for any and all causes arising under this Agreement, or in any way
related to this Agreement, whether based in contract, tort, negligence, strict liability or otherwise, will, in the aggregate, not exceed the actual fees paid by you to CSuite over the previous two (2) months of the Agreement. In no event will
CSuite be liable for incidental, consequential, punitive, indirect or special damages, including, without limitation, interruption or loss of business, profit or goodwill. As a condition for recovery of any liability, you must assert any claim
against CSuite within three (3) months after discovery or sixty (60) days after the termination or expiration of the applicable Schedule under which the liability arises, whichever is earlier. 

(b) You agree to indemnify CSuite and the Resource to the full extent permitted by law for any losses, costs, damages, and
expenses (including reasonable attorneys’ fees), as they are incurred, in connection with any cause of action, suit, or other proceeding arising in any way out of the provision of services to you pursuant to this Agreement. 

8. Directors and Officers Insurance. During the term of this Agreement, Company will provide directors and officers liability insurance
coverage for the Resource serving as an officer or executive of Company at no additional cost to CSuite or the Resource. Furthermore, Company will maintain such insurance coverage with respect to occurrences arising during the term of this Agreement
for at least five (5) years following the termination or expiration of the Agreement or will purchase a directors and officers extended reporting period or “tail” policy to cover the Resource for such five (5) year period.
Company’s directors and officers’ insurance must be primary and non-contributory. Upon the execution of this Agreement and at any other time requested by CSuite, Company will provide CSuite a
certificate of insurance evidencing that Company is in compliance with the requirements of this paragraph. 
 9. Governing Law,
Arbitration, and Witness Fees. 
 (a) This Agreement will be governed by the laws of the State of California, without
regard to conflicts of laws provisions. 
 (b) All controversies, disputes or proceedings between the parties arising out of
or related to this Agreement or the relationship of the Parties under this Agreement irrespective of the type of claim, shall be determined by binding arbitration under expedited procedures set forth in JAMS Comprehensive Arbitration Rules and
Procedures as those rules exist on the effective date of this Agreement, including Rules 16.1 and 16.2 of those Rules. A Party may initiate an arbitration proceeding by sending written notice of such to the other Party (the “Arbitration
Demand”). That notice shall specify the nature of the dispute. The arbitration shall be held in Los Angeles County, California and administered by JAMS’ nearest office. All disputes relating to discovery which cannot immediately be
resolved by the Parties to the dispute shall be submitted to the arbitrator for an expedited ruling. The arbitration shall be conducted by a single arbitrator mutually acceptable to the Parties to the dispute. If the Parties to the dispute are
unable to agree upon a single arbitrator within twenty (20) days of receipt of an Arbitration Demand, then the arbitration shall be conducted by a single arbitrator appointed by JAMS in accordance 

  
  

316 44th St. • Manhattan Beach, CA 90266 • www.CSuiteFinancialPartners.com

 with its rules. Notwithstanding any of the foregoing, the arbitrator may not award any
incidental, indirect, consequential or punitive damages, which includes, but is not limited to, damages for lost profits. The decision of the arbitrator shall be final and binding on all parties. 

(c) If the Resource is requested or authorized by Company or is required by government regulation, subpoena, or other legal
process to produce documents or appear as witnesses in connection with any action, suit or other proceeding initiated by a third party against Company or by Company against a third party, and at the time, this Agreement is terminated, Company will,
so long as CSuite is not a party to the proceeding for which the information is sought, reimburse CSuite for its member’s or employee’s professional time (based on customary rates) and expenses, as well as the fees and expenses of its
counsel, incurred in responding to such requests. 
 10. Miscellaneous. 

(a) This Agreement is the entire agreement between the parties for professional services and supersedes any and all agreements,
whether oral or written, between the parties with respect to its subject matter. No amendment or modification to this Agreement will be valid unless in writing and signed by both parties. 

(b) If any portion of this Agreement is found to be invalid or unenforceable, such provision will be severed from the remainder
of this Agreement and will not cause the invalidity or un-enforceability of the remainder of this Agreement, except to the extent that the severed provision deprives either party of a material portion of its
bargain. 
 (c) Neither party will be liable for any delay or failure to perform under this Agreement (other than with
respect to payment obligations) to the extent such delay or failure is a result of an act of God, war, earthquake, civil disobedience, court order, pandemic, labor dispute, or other cause beyond such party’s reasonable control. 

(d) Company may not assign its rights or obligations under this Agreement without the express written consent of CSuite. 

(e) Company agrees to reimburse CSuite for all legal fees, costs and expenses (including cost of appeal or petitions) incurred
by CSuite related to the interpretation, enforcement or collection of any amounts due under this Agreement. 
  

 

  
  

316 44th St. • Manhattan Beach, CA 90266 • www.CSuiteFinancialPartners.com

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}]]