Document:

Exhibit 10.2

 Exhibit 10.02 
 AMENDMENT NO. 1 TO CREDIT AGREEMENT 
 AMENDMENT NO. 1 TO CREDIT AGREEMENT (this
“Amendment”), dated as of May 29, 2012, by and among FTI CONSULTING, INC., a Maryland corporation (the “Company”), each other Loan Party (this and all other capitalized terms used herein but not otherwise
defined herein shall have the meanings provided to such terms in the Credit Agreement referred to below), the Lenders party hereto and BANK OF AMERICA, N.A., as administrative agent (“Administrative Agent”) for the Lenders with
respect to the Credit Agreement, dated as of September 27, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Company, each other Loan Party, the Lenders, the
other financial institutions party thereto from time to time and the Administrative Agent. 
 W I T N E S S E T H 

WHEREAS, in connection with the proposed adoption of a revised UK compensation scheme, the Company proposes to effect changes to the
corporate structure of certain of its UK-incorporated Subsidiaries; 
 WHEREAS, the Company has requested that the
Administrative Agent and the Lenders amend certain provisions of the Credit Agreement to give effect to the proposed compensation arrangements; and 
 WHEREAS, the Lenders party hereto (which constitute the Required Lenders) have agreed to such request on the terms and conditions set forth herein. 

NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: 
 1. Interpretation. This Amendment shall be construed and
interpreted in accordance with the rules of construction set forth in Section 1.02, 1.05 and 1.06 of the Credit Agreement. 

2. Amendments. The Lenders party hereto (which constitute the Required Lenders) and the Administrative Agent hereby agree to the
following amendments on the Effective Date: 
 (a) The following new definitions are hereby added to Section 1.01 of the
Credit Agreement in their proper alphabetical order with respect to the existing definitions: 
 “Foreign Subsidiary
Employee Plan” means any Deed of Individual Terms or other document or agreement between or among a Foreign Subsidiary and one or more Employees pursuant to which such Employee has provided and/or shall provide services to such Foreign
Subsidiary or an affiliate of such Foreign Subsidiary, as amended, waived, supplemented, renewed, replaced or otherwise modified from time to time; provided that the terms thereof are not, when taken as a whole, materially less favorable to the
Company than compensation arrangements that are customary or appropriate for similarly situated companies in the markets in which such Foreign Subsidiary operates. 
 “Permitted Foreign Subsidiary Disposition” means any issuance from time to time of Capital Stock of any Foreign Subsidiary to any Employee pursuant to a Foreign Subsidiary Employment
Plan; provided that (i) after giving effect to such issuance such Foreign Subsidiary remains a Subsidiary of the Company, (ii) such Capital Stock issued to Employees does not materially reduce the Company’s Control of such Foreign
Subsidiary and (iii) the Capital Stock issued to such Employees does not materially reduce the economic interests of the Company in such Foreign Subsidiary. 

 “Permitted Foreign Subsidiary Payment” means any Restricted Payment by a
Foreign Subsidiary from time to time to any Employee pursuant to any Foreign Subsidiary Employee Plan which Restricted Payment is (i) in the nature of, or in lieu of, compensation payable to Employees or (ii) constitutes a redemption or
repurchase of Capital Stock in a Foreign Subsidiary held by an Employee. 
 (b) The definition of
“Disposition” in Section 1.01 of the Credit Agreement is hereby amended by inserting the following at the end of in clause (ix) of such definition: “or constituting a Permitted Foreign Subsidiary Disposition,”

 (c) Section 8.02 of the Credit Agreement shall be amended by replacing clause (d) thereof in its
entirety with: “loans by a Foreign Subsidiary to any Employee pursuant to any Foreign Subsidiary Employee Plan in the nature of, or in lieu of, employment compensation;” 

(d) Section 8.06 of the Credit Agreement shall be amended by replacing the period at the end of clause (e) with
“; and”and inserting the following immediately following clause (e): (f) from time to time any Foreign Subsidiary may make any Permitted Foreign Subsidiary Payment and may enter into any Foreign Subsidiary Employee Plan with any Employee.

 (e) Section 8.08 of the Credit Agreement shall be amended by replacing the word “and”
immediately before clause (e) with “,” and inserting the following immediately after the words “director or Affiliate” in clause (e): “and (f) any transactions between any Foreign Subsidiary and any Employee pursuant to
any Foreign Subsidiary Employee Plan.” 
 (f) Section 8.13 of the Credit Agreement shall be amended by
inserting the following at the end of clause (a) thereof: “, except any amendment, modification or change to the Organization Documents of any Foreign Subsidiary to the extent necessary to give effect to any Foreign Subsidiary Employee
Plan.”. 
 (g) Section 8.14 of the Credit Agreement shall be amended by inserting the following words
in the first line thereof immediately following the words “to the contrary,”: “except to the extent permitted with respect to the Capital Stock of any Foreign Subsidiary pursuant to any Foreign Subsidiary Employee Plan,”.

 3. Conditions to Effectiveness. This Amendment shall become effective upon receipt by the Administrative Agent of
counterparts of this Amendment executed by the Company, each other Loan Party, the Required Lenders and the Administrative Agent (the date of such effectiveness, the “Effective Date”). 

4. Representations and Warranties. The Company and each other Loan Party hereby represents and warrants as follows: 

(a) The Company and each other Loan Party has taken all necessary action to authorize the execution, delivery and
performance of this Amendment. 
 (b) This Amendment has been duly executed and delivered by each of the Loan
Parties and constitutes each Loan Party’s legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be subject to (A) bankruptcy, insolvency, reorganization, fraudulent conveyance or
transfer, moratorium or similar laws affecting creditors’ rights generally and (B) general principles of equity. 
 (c) No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection

  
 2 

 
with the execution, delivery or performance by the Company or any other Loan Party of this Amendment, other than (i) those of the Required Lenders and the Administrative Agent,
(ii) those that have already been obtained and are in full force and effect, (iii) filings (if any) with the SEC after the date hereof under Section 13 or 15(d) of the Securities Exchange Act of 1934 and (iv) to the extent the
failure to obtain the same could not reasonably be expected to have a Material Adverse Effect. 
 (d) After
giving effect to this Amendment, the representations and warranties of the Company and each other Loan Party set forth in Article VI of the Credit Agreement and in each other Loan Document, or which are contained in any document furnished at any
time under or in connection herewith or therewith, shall be true and correct in all material respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case
they shall be true and correct in all material respects as of such earlier date, and except that the representations and warranties contained in subsections (a), (b) and (f) of Section 6.05 of the Credit Agreement shall be deemed to refer
to the most recent statements furnished pursuant to clauses (a) and (b), as applicable, of Section 7.01 of the Credit Agreement. 
 (e) No Default or Event of Default exists after giving effect to this Amendment. 

5. Continuing Effects. 
 (a) This Amendment shall not be construed as a waiver or consent to any further or future action on the part of the Administrative Agent, the Swing Line Lender, the L/C Issuer or any Lender that would
require a waiver or consent of such Person or the Required Lenders and shall not extend to any other rights and remedies any such Person may have under the Credit Agreement, any other Loan Document or applicable law. Except as expressly provided in
Section 2 hereof, the Credit Agreement, each other Credit Document and the Obligations (including, without limitation, the Domestic Obligations, the Foreign Obligations and the L/C Obligations) of the Company and each other Loan Party
thereunder and under the other Loan Documents, are hereby ratified and continued and shall continue to be and shall remain in full force and effect in accordance with their terms. 

(b) The Company and each other Loan Party (i) acknowledges and consents to all of the terms and conditions of this
Amendment, (ii) affirms all of its Obligations (including, without limitation, its Domestic Obligations, its Foreign Obligations and its L/C Obligations) under the Loan Documents and (iii) agrees that this Amendment and all documents
executed in connection herewith do not operate to reduce or discharge such Obligations under the Credit Agreement or the other Loan Documents. 
 (c) Each Guarantor hereby confirms and agrees that the Guaranty shall continue and remain in full force and effect after giving effect to this Amendment. 

  
 3 

	6.	Miscellaneous. 

 (a) The Company agrees to pay all reasonable costs and expenses of the Administrative Agent in connection with the negotiation, preparation, execution and delivery of this Amendment, including without
limitation the reasonable fees and expenses of counsel. 
 (b) This Amendment may be executed counterparts (and
by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by
telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment. 
 (c) THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

(d) If any provision of this Amendment is held to be illegal, invalid or unenforceable, the legality, validity and
enforceability of the remaining provisions of this Amendment shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 [Signature Pages Follow] 

  
 4 

 IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to
be duly executed and delivered as of the date and year first above written. 
  

							
	COMPANY:	 		 	 FTI CONSULTING, INC.,
 a Maryland corporation

				
		 		 	By:	 	/s/ ERIC B. MILLER
		 		 		 	Name: ERIC B. MILLER
		 		 		 	Title: EVP AND GENERAL COUNSEL

							
	GUARANTORS:	 		 	FTI, LLC,
		 		 	 a Maryland limited liability company
 COMPASS LEXECON LLC,
 a Maryland limited liability company

FTI INTERNATIONAL, LLC,
 a Maryland limited
liability company
 COMPETITION POLICY ASSOCIATES, INC., a
 District of Columbia corporation
 FTI CONSULTING LLC,

a Maryland limited liability company
 FTI GENERAL
PARTNER LLC,
 a Maryland limited liability company
 FTI HOSTING LLC,
 a Maryland limited liability company

FTI CONSULTING TECHNOLOGY LLC,
 a Maryland
limited liability company
 FTI CONSULTING TECHNOLOGY SOFTWARE
 CORP (f/n/a ATTENEX CORPORATION),
 a Washington corporation

FD MWA HOLDINGS INC.,
 a Delaware
corporation
 FTI CONSULTING (SC) INC. (f/n/a FD U.S.
 COMMUNICATIONS, INC.),
 a New York corporation

				
		 		 	By:	 	/s/ ERIC B. MILLER
		 		 		 	Name: ERIC B. MILLER
		 		 		 	Title: SVP
			
		 		 	 FTI INVESTIGATIONS, LLC,
 a Maryland limited liability company

				
		 		 	By:	 	/s/ ERIC B. MILLER
		 		 		 	Name: ERIC B. MILLER
		 		 		 	Title: VP

							
	LENDERS:	 		 	 BANK OF AMERICA, N.A.,
 as a Lender, L/C Issuer and Swing Line Lender

				
		 		 	By:	 	/s/ Barbara P. Levy
		 		 		 	Name: Barbara P. Levy
		 		 		 	Title: Senior Vice President

 
			
	 Deutsche Bank AG New York Branch,
 as a Lender

		
	By: 	 	/s/ Marguerite Sutton
		 	Name: Marguerite Sutton
		 	Title:   Director
		
	By:	 	/s/ Michael Getz
		 	Name: Michael Getz
		 	Title:   Vice President

 
			
	 Wells Fargo Bank, N.A.,
 as a Lender

		
	By: 	 	/s/ Beth Rue
		 	Beth Rue
		 	Director

 
			
	 COMERICA BANK
 as a
Lender

		
	By: 	 	/s/ Blake Arnett
		 	Name: Blake Arnett
		 	Title:   Vice President

 
			
	 SOVEREIGN BANK, N.A.,
 as a Lender

		
	By: 	 	/s/ THOMAS J. DEVITT
		 	Name: THOMAS J. DEVITT
		 	Title:   SENIOR VICE PRESIDENT

 
			
	 JPMorgan Chase Bank, N.A.
 as a Lender

		
	By: 	 	/s/ Philip Mousin
		 	Name: Philip Mousin
		 	Title:   Credit Executive

 
			
	 HSBC Bank USA, N.A.

as a Lender

		
	By:	 	/s/ Eric P. Rodawig
		 	Name: Eric P. Rodawig
		 	Title: Assistant Vice President

 
			
	 SunTrust Bank,
 as
a Lender

		
	By:	 	/s/ Douglas O’Bryan
		 	Name: Douglas O’Bryan
		 	Title: Director

 
			
	 CITIZENS BANK OF PENNSYLVANIA,
 as a Lender

		
	By:	 	/s/ David W. Dinella
		 	Name: David W. Dinella
		 	Title: Senior Vice President

			
	Acknowledged and agreed:
	
	 BANK OF AMERICA, N.A.,
 as Administrative Agent

		
	By:	 	/s/ Roberto Salazar
		 	Name: Roberto Salazar
		 	Title: Vice PresidentLetter Agreement between the Company and Robert Butchofsky

 Exhibit 10.59 

 
 

 
 July 27, 2012 
 WITHOUT PREJUDICE 
 CONFIDENTIAL 

Robert Butchofsky 
 Dear Bob, 

This letter will confirm our recent verbal discussions that in connection with the budget reductions and restructuring activities being undertaken by QLT,
your employment will terminate on August 2, 2012 (the “Termination Date”). 
 Pursuant to your Change of Control Agreement dated
September 26, 2005 (the “CoC Agreement”), as your employment is being terminated on a without cause basis following a Change of Control, pursuant to sections 2.1 and 2.2 of the CoC Agreement, you are entitled to receive the following:

  

	1.	Severance Payment. QLT will pay to you the following lump sum payments: 

 

	 	a.	$1,081,080.00, equal to 24 months base salary; 

  

	 	b.	$810,810.00, equal to your bonus entitlement at target for the 24 months following the Termination Date under QLT’s cash incentive compensation plan; and

  

	 	c.	$24,260.00, equal to 24 months contribution to your RRSP reflecting the period from the Termination Date, subject to terms of the RRSP contribution provisions set out
in your Employment Agreement with QLT. 

  

	2.	Expenses. QLT will reimburse you for all reasonable business related expenses incurred by you during the course of your employment, subject to the expense
reimbursement provisions set out in your Employment Agreement and the Company’s Policy and Procedures Manual. Please submit any outstanding expense claims within three business days after the Termination Date. 

 

	3.	Vacation. You will receive an amount equal to any remaining accumulated vacation to which you may be entitled up to and including your Termination Date.

  

	4.	2012 RRSP Pro-Rated to the Termination Date. QLT will make a prorated contribution to your RRSP for the 2012 calendar year, up to and including the Termination
Date and subject to the RRSP contribution provisions set out in your Employment Agreement. 

  

	5.	2012 Cash Incentive Compensation Earned Pro-Rated to Termination Date. In addition to the payments under section 1(b) above, QLT shall make a further payment in
the amount of $239,604.75, representing your entitlement to participate in the cash incentive compensation plan for the 2012 calendar year at target pro-rated to the Termination Date. 

 

	6.	Benefits. QLT will provide you and your eligible dependents with coverage under the Company’s health related benefit plans with the exception of short-term
disability, long-term disability and out of country travel coverage for a period of 30 days after your Termination Date. During this period, the value of your life insurance and accidental death and disability policies will be limited by our insurer
to a maximum of $500,000 each, which may be less than the amount of insurance you currently enjoy. Therefore, if you determine you require coverage in excess of those amounts, you will be responsible to obtain that additional coverage
yourself with an insurer of your choice and at your own cost. 

 Robert Butchofsky 
 July 27, 2012 
 Page 2 of 7 

 

 As QLT is unable to continue all coverage under the Company’s health related
benefit plans, QLT shall pay you the amount of $103,603.50 (equal to 10% of your base salary for a 23 month period) as compensation for health related benefits coverage. 
 You may have the opportunity to convert the group life insurance policy previously offered through QLT to a personal life insurance policy which you hold and maintain directly. For further information,
please refer to the Great West Life Group Conversion document and the important deadlines which you must meet if you wish to exercise this opportunity. 
  

	7.	Outplacement Assistance. QLT has arranged for out-placement and career transition assistance through Knightsbridge, to a maximum of $5,000.00 for services
provided to you. Please contact Nancy Laughton, at (604) 678-9344 extension 228 within two months of your Termination Date if you wish to avail yourself of this program. 

 

	8.	Relocation. Should you be required to relocate you and your family to a new location for future employment or the location from which you travelled to Vancouver
(as the case may be), QLT will pay such moving expenses as may be reasonably incurred by you (including, in the event that you are unable to sell your home in Vancouver before you are required to pay costs of accommodation at your new location, the
costs of such accommodation until you derive proceeds from the sale of your home in Vancouver, or six months, whichever period is longer), together with any additional relocation reimbursement to which you may then be entitled under the terms of
your Employment Agreement with the Company, such expenses to be calculated and paid in accordance with terms of your Employment Agreement, provided that there is no duplication of payments pursuant to the Employment Agreement and this clause.

  

	9.	Stock Options. You will have 90 days from the date of termination of your employment (as defined in the particular QLT Incentive Stock Option Plan under which
your stock options were issued) to exercise any stock options that have vested as of such termination date. The terms of the Stock Option Agreement(s) and QLT’s Incentive Stock Option Plan will govern the vesting and exercise of any stock
options which you may hold. If you need any further information regarding your current option status or vesting provisions, then please contact Michelle Baker directly (604-707-7285). 

 

	10.	Release. In accordance with section 2.6 of the CoC Agreement, you must sign and return the enclosed Final Release attached as Appendix A to this letter. You
understand and acknowledge that this is intended to be a full and final settlement of all matters between you and QLT. Any obligations, entitlements, expectations, promises, understandings or commitments not expressly set out or referred to in this
letter, whether they arose prior to your employment, during your employment or upon or after termination of your employment are superseded and nullified by this letter. 

 

	11.	Confidentiality and Non-Solicitation. Your employment agreement with QLT sets out confidentiality, non-competition, and non-solicitation obligations on you.
Section 2.8 of your CoC Agreement provides that the non-competition covenants of your Employment Agreement are not enforceable but we remind you of your continuing obligations with respect to confidential information, non-solicitation of
customers and known prospective customers and non-solicitation of employees of QLT set out in your Employment Agreement. You confirm that you are still bound by these obligations. 

 

	12.	Goodwill. You will at all times refrain from making any statement or taking any action which may reasonably be expected to have a negative impact on QLT’s
goodwill, ongoing business, products, management or litigation in which QLT may be involved. This obligation is subject to obligations at law. 

  

	13.	QLT Intellectual Property. We remind you that any intellectual property you developed during the course of your employment with QLT remains the property of QLT.
Your employment agreement with QLT requires you to sign documents evidencing both your inventorship of this intellectual property and the assignment of any of your rights to those inventions to QLT. By signing this letter, you again confirm that you
will cooperate with QLT in the future by promptly signing and returning to QLT any such documents as reasonably requested by QLT. 

 Robert Butchofsky 
 July 27, 2012 
 Page 3 of 7 

 

	14.	During Transition Period. You will continue to act in the best interests of QLT and will transition any ongoing work in accordance with our directions before the
end of the Termination Date. To protect QLT’s legitimate business interests, QLT may at any time limit or restrict access to QLT’s computer network and internal or external e-mail system. QLT may in its discretion terminate your employment
at any time prior to the Termination Date in which case you will still receive the severance package set out above, but you will not receive any salary, benefits or other entitlements for the period between the earlier termination date and
Termination Date. For greater certainty, if your employment is terminated early, your salary and compensation will cease as of the date that QLT advises you is your termination date and you will only be entitled to the severance package in this
letter. 

 Following the Termination Date. Additionally, following the Termination Date, we request that you
cooperate with QLT by responding to inquiries from senior management of QLT concerning issues that arise related to the transition of your work or to further assist the transition. 

 

	15.	Statutory Withholdings. QLT is required to, and will deduct from each of the foregoing payments, all applicable statutory withholdings. 

 

	16.	Payment Date. The foregoing payments will be paid to you within 30 days of your Termination Date, provided you return to us, by the time set out below, a copy of
this letter with your signature and a signed copy of the Final Release attached as Appendix A. 

 After the Termination Date,
you will no longer be subject to QLT’s employee lockout periods but are still subject to laws prohibiting insider trading on QLT stock based on material information regarding QLT. To avoid any uncertainty, please refer to Appendix B attached,
which sets out certain rules that must be followed regarding insider trading and trading of options following your departure. We will also deliver to you on your Termination Date, a letter reminding you of certain obligations you have under the U.S.
Federal securities laws. 
 We ask that you return the signed copy of this letter and the enclosed release by 4 pm on August 7, 2012.
Please let us know if you have any questions or concerns. 
 On behalf of QLT, I wish to thank you for your dedicated service and wish you the
best of luck in your future endeavors. 
 Yours very truly, 
 QLT Inc. 
 /s/ Jason Aryeh 
 Jason Aryeh 
 Chairman 

In consideration of the payments to be made to me by QLT, I hereby agree to the foregoing terms this 1st day of August, 2012. 

/s/ Robert
Butchofsky                         
 Robert Butchofsky 

 Robert Butchofsky 
 July 27, 2012 
 Page 4 of 7 

 

 Attachments: 
 - Appendix A – Final Release 
 - Appendix B – Trading Restrictions

 Robert Butchofsky 
 July 27, 2012 
 Page 5 of 7 

 

 APPENDIX A 

FINAL RELEASE 

IN CONSIDERATION OF the payments made to me by QLT Inc. (hereinafter called “QLT”) pursuant to that letter dated the 27th day of
July, 2012 from QLT to me, effective the date of this Release, I, Robert Butchofsky of West Vancouver, B.C. do hereby remise, release and forever discharge QLT, having a place of business at 887 Great Northern Way, Suite 101, in the City of
Vancouver, Province of British Columbia, V5T 4T5, its officers, directors, servants, employees and agents, and their heirs, executors, administrators, successors and assigns, as the case may be, of and from any and all manner of actions, causes of
action, suits, contracts, claims, damages, costs and expenses of any nature or kind whatsoever, whether in law or in equity, which as against QLT or such persons as aforesaid or any of them, I have ever had, now have, or at any time hereafter
I or my personal representatives can, shall or may have, by reason of or arising out of my employment with QLT and/or the subsequent termination of my employment with QLT on or about August 2, 2012, or in any other way connected
with my employment with QLT and more specifically, without limiting the generality of the foregoing, any and all claims for damages for termination of my employment, constructive termination of my employment, loss of position, loss of status,
loss of future job opportunity, loss of opportunity to enhance my reputation, the timing of the termination and the manner in which it was effected, loss of bonuses, loss of shares and/or share options, loss of benefits, including life insurance and
short and long-term disability benefit coverage, and any other type of damages arising from the above. Notwithstanding the foregoing, nothing in this Release will act to remise, release or discharge QLT from obligations, if any, which QLT may have
pursuant to any indemnity agreements previously entered into between me and QLT or from any rights I may have to claim coverage under QLT’s past, current or future director and/or officer insurance policies, in either case with respect to
existing or future claims that may be brought by third parties. 
 IT IS UNDERSTOOD AND AGREED that this Release includes any and all
claims arising under the Employment Standards Act, Human Rights Code, or other applicable legislation and that the consideration provided includes any amount that I may be entitled to under such legislation. 

IT IS FURTHER UNDERSTOOD AND AGREED that this Release is subject to compliance by QLT with the said conditions as stipulated in the
aforementioned letter from QLT. 
 IT IS FURTHER UNDERSTOOD AND AGREED THAT QLT will withhold and remit income tax and other
statutory deductions from the aforesaid consideration and I agree to indemnify and hold harmless QLT from any further assessments for income tax, repayment of any employment insurance benefits received by me, or other statutory deductions
which may be made under statutory authority. 
 IT IS FURTHER UNDERSTOOD AND AGREED that this is a compromise and is not to be construed
as an admission of liability on the part of QLT. The terms of this Release set out the entire agreement between QLT and me with respect to the matters described herein and are intended to be contractual and not a mere recital.

 Robert Butchofsky 
 July 27, 2012 
 Page 6 of 7 

 

 IT IS FURTHER UNDERSTOOD AND AGREED that I will keep the contents of this settlement and all
communication relating thereto confidential except to Revenue Canada or as is required to obtain legal and tax advice, or to enforce my rights hereunder in a court of law, as is required by law. 

IT IS FURTHER UNDERSTOOD AND AGREED that the consideration described herein was voluntarily accepted by me for the purpose of making a full and
final settlement of all claims described above and that prior to agreeing to the settlement, I was advised by QLT of my right to receive independent legal advice. 
 IN WITNESS WHEREOF this Release has been executed effective the
1st day of August, 2012. 

 

					
	SIGNED, SEALED AND DELIVERED	 	)	    	
	By Bob Butchofsky in the presence of:	 	)	    	
		 	)	    	
		 	)	    	/s/ Bob
Butchofsky                            
	 Colleen
Orr                                         
           
	 	)	    	Robert Butchofsky
	Name	 	)	    	
		 	)	    	
	101-887 Great Northern
Way                        	 	)	    	
	Address	 	)	    	
	Vancouver,
BC                                         
     	 	)	    	
		 	)	    	
	Paralegal                            
                            	 	)	    	
	Occupation	 	)	    	

 Robert Butchofsky 
 July 27, 2012 
 Page 7 of 7 

 

 APPENDIX B 

TRADING RESTRICTIONS 
 Clarification from QLT with respect to the ability to trade QLT securities after your departure, in what would otherwise be a “blackout period” if you were still an employee of QLT.

 Securities legislation provides that any person who is in a “special relationship” with a company (employees are included
within the definition of persons in a special relationship) may not trade in company securities with knowledge of a material fact or material change in the business or affairs of the company that has not been generally disclosed to the public (and
then only after a reasonable period has passed after such disclosure, being at least one full trading day). 
 Former employees of a company who
may acquire knowledge of any material fact or material change while still an employee would be subject to this trading restriction under the securities legislation and would not be permitted to trade until a “reasonable period” had passed
following the disclosure to the public of the material fact or change. 
 Therefore, while a blackout period imposed on employees of QLT during
your Severance Period would not apply to you after you are no longer employed by QLT, you are still subject to general securities legislation and if you have knowledge of a material fact or material change in the business or affairs of QLT which you
acquired while you were an employee of QLT, you should not trade in QLT securities based on this knowledge until the material fact or change has been generally disclosed by QLT to the public and a reasonable period of time (at least one full trading
day) has passed since such disclosure. 
 WE REMIND YOU THAT SINCE YOUR EMPLOYMENT WITH QLT DOES NOT END UNTIL YOUR TERMINATION DATE,
UNTIL THAT DATE YOU REMAIN SUBJECT TO ALL TRADING BLACK-OUT PERIODS APPLICABLE TO ALL QLT EMPLOYEES; HOWEVER, YOU ARE STILL SUBJECT TO LAWS PROHIBITING INSIDER TRADING ON QLT STOCK BASED ON MATERIAL INFORMATION REGARDING QLT. 

Securities legislation and regulation are subject to change; the foregoing should not be relied upon as legal advice.

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