Document:

Exhibit 4.60

 

MUTUAL TERMINATION AGREEMENT

 

This Mutual Termination Agreement (together
with all Exhibits hereto, this “Termination Agreement”) is entered into as of 24 November 2016 (the “Termination
Effective Date”) by and between Novartis Pharma AG, a company incorporated under the laws of Switzerland, with a place
of business at Lichtstrasse 35, CH-4056 Basel, Switzerland (hereinafter referred to as “Novartis”), and GW Pharma
Ltd, a company incorporated under the laws of England and Wales (Company No. 03704998), having its registered address at Sovereign
House, Vision Park, Chivers Way, Histon, Cambridge CB24 9BZ, UK (hereinafter referred to as “GW”). Novartis
and GW, may hereinafter be referred to individually as a “Party” and collectively as the “Parties”.

 

WHEREAS, Novartis and GW are parties
to that certain Distribution and License Agreement, dated 8 April 2011, as amended on 1 February 2014 and 19 January 2015 (collectively
and as so amended, the “Agreement”); and

 

WHEREAS, Novartis and GW wish to
terminate the Agreement, and to confirm and define their respective future mutual rights and obligations with respect thereto,
in each case, on the terms and conditions set forth herein.

 

NOW THEREFORE, in consideration
of the mutual promises and covenants hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy
of which is hereby acknowledged, and intending to be legally bound hereby, the Parties agree as follows:

 

		1.	DEFINITIONS

 

Unless
otherwise defined herein, capitalized words used in this Termination Agreement shall have the meaning attributed to them in the
Agreement. 

 

		2.	MUTUAL TERMINATION OF THE AGREEMENT

 

Notwithstanding
any provision of the Agreement to the contrary, the Parties agree that on the Termination Effective Date, the Agreement (including
any and all related amendments, modifications and ancillary agreements, including the Manufacturing and Supply Agreement, dated
9 November 2011, by and between GW and Novartis), is hereby mutually terminated by the Parties and of no further legal force or
effect, except as otherwise expressly provided for herein (including Section 3.11 hereof). Notwithstanding the foregoing,
the Parties agree that the Pharmacovigilance Agreement, dated 28 February 2012, by between GW and Novartis (the “Pharmacoviligance
Agreement”) shall not terminate on the Termination Effective Date and shall instead continue in effect solely in accordance
with the terms of Section 3.6 of this Termination Agreement.

 

     

     

    

 

		3.	EFFECTS OF TERMINATION AND TRANSITION SERVICES.

 

		3.1	Effect of Termination on the Licenses and Other Grants Relevant to Section 2 of the Agreement.

 

		a)	The Parties hereby agree that any licenses and other rights granted by GW to Novartis under the
GW Technology pursuant to the Agreement shall terminate and/or be transitioned to GW in accordance with the following:

 

		i.	For those countries in the Territory (i) in which no Regulatory Filings for Product have been submitted
to the Regulatory Authority of that country prior to the Termination Effective Date or (ii) in which the Regulatory Filings have
been rejected by the Regulatory Authority prior to the Termination Effective Date (collectively, the “No Approval Countries”):
Any licenses and other rights to use the GW Technology granted by GW to Novartis under the Agreement with respect to such country
will terminate and revert to GW effective upon the Termination Effective Date;

 

		ii.	For those countries in the Territory in which Novartis has submitted a Regulatory Filing for Product
to the Regulatory Authority of that country prior to the Termination Effective Date, but in which a Regulatory Approval has not
been obtained before the Termination Effective Date (collectively, the “Pending Approval Countries”): Any licenses
and other rights to use the GW Technology granted by GW to Novartis under the Agreement with respect to such country will terminate
and revert to GW effective upon the Termination Effective Date except that such licenses and rights shall continue following the
Termination Effective Date solely to the extent necessary for Novartis to perform and discharge its obligations under this Termination
Agreement. Upon the discharge of such obligations such residual rights under GW Technology will terminate and revert to GW; and

 

		iii.	For those countries in the Territory in which a Regulatory Approval has been obtained by Novartis
as of the Termination Effective Date, specifically, Australia, Malaysia, New Zealand, Kuwait, and the United Arab Emirates (collectively,
the “Approved Countries”): Any licenses and other rights to use the GW Technology granted by GW to Novartis
under the Agreement with respect to such country will continue after the Termination Effective Date and shall terminate and revert
to GW effective upon the date of completion of the transfer from Novartis of the Regulatory Approval for such country to GW or
to its Third Party designee.

 

		b)	Novartis hereby confirms that it has not granted to any Third Parties any sublicenses under the
GW Technology.

 

		3.2	Effect of Termination on the Obligations relating to Development and Product Information Relevant
to Section 4 of the Agreement.

 

From and
after the Termination Effective Date, GW will be solely responsible, at its own cost and expense, for all Development of the Product
for the Territory.

 

    	 	2	 

     

    

 

		3.3	Effect of Termination on the Regulatory Affairs and Activities Relevant to Section 6.1 of the
Agreement.

 

		a)	The Parties hereby agree that Novartis’ rights and responsibilities with respect to regulatory
affairs and activities related to the Product in the Territory shall terminate and/or be transitioned to GW in accordance with
the following:

 

		i.	For each of the Approved Countries: Novartis will continue to maintain the Regulatory Filings
for each Approved Country until 31 January 2017. On or before 31 January 2017, Novartis will file the CDS-update(s), CMC-variation(s)
and Regulatory Approval transfer submission(s) for the transfer of the Regulatory Approval(s) in each such Approved Country to
GW or its designated Third Party in accordance with applicable local Law. GW will (or will cause its future local distribution-partner
to), at GW’s own cost and expense, execute, acknowledge and deliver any and all documents and take any action as may be reasonably
necessary to complete each Regulatory Approval transfer. By way of exception, in Malaysia, Novartis will only be required to file
the Regulatory Approval transfer submission (and the Parties have agreed that Novartis is not obliged to file any CDS-updates or
CMC-variations for Malaysia), but will do so on or before 31 January 2017. For each Approved Country, from and after 31 January
2017 any subsequent new CDS-update(s) and CMC variation(s) will be filed directly by GW once the Regulatory Approval transfer has
been completed.

 

		ii.	For each of the Pending Approval Countries: From and after the Termination Effective Date,
Novartis will transfer all Regulatory Filings to GW, except that Novartis shall have no such obligation if GW expressly requests
that Novartis withdraw the Regulatory Filings in a specific country. GW hereby expressly requests that Novartis withdraw the Regulatory
Filings in South Africa and Egypt. By way of exception, in Saudi Arabia, Novartis will continue to be responsible for all interactions
with the Regulatory Authority with respect to the Regulatory Approvals, including any discussions related to the Pricing and/or
Reimbursement Approval for the Product, until the Regulatory Approval in Saudi Arabia has been granted or rejected; following the
grant or rejection of these Regulatory Approvals, Novartis will (A) file the Regulatory Approval transfer submission for the transfer
of these Regulatory Approvals to GW or its Third Party designee and (B) transfer all Regulatory Filings for Saudi Arabia to GW.
The foregoing obligations with respect to Saudi Arabia will continue beyond 31 January 2017 until they have been completed. The
Parties agree that if, after submission of the pricing documents by Novartis, a significant amount of regulatory work will continue
to be required in order to obtain Regulatory Approvals in the Pending Approval Countries, then the Parties will discuss in good
faith how this work can be outsourced to a Third Party and the sharing of the associated costs by the Parties; and

 

		iii.	For the each of the No Approval Countries: From and after the Termination Effective Date,
GW will be solely responsible for all interactions with the Regulatory Authorities with respect to all Regulatory Filings and Regulatory
Approvals.

 

    	 	3	 

     

    

 

		b)	For the avoidance of the doubt, any regulatory activities performed by Novartis pursuant to the
above Section 3.3(a) (collectively, the “Regulatory Services”) shall be performed free of charge to GW
and Novartis agrees to bear all costs and expenses incurred in connection with all Regulatory Services performed on or before 31
January 2017 (even if the invoice for such services is not raised or received until after 31 January 2017) or, in the case of Saudi
Arabia (and subject to the final sentence of Section 3.3(a)ii, until the Regulatory Services are completed. It is agreed
and understood by and between the Parties that Novartis will not be liable for, and GW hereby expressly waives, releases and discharges
Novartis from, any claims in contract, tort, negligence, breach of statutory duty or otherwise for any special, indirect, incidental,
punitive or consequential damages or for any economic loss or loss of profits actually or allegedly suffered by GW arising out
of or in connection with any Regulatory Service.

 

		c)	Notwithstanding the above, except with respect to Saudi Arabia from and after 1 January 2017, GW
will be solely responsible, at its own cost and expense, for all Regulatory Filings and Regulatory Approvals for all Product in
the Territory (including all interactions with Regulatory Authorities in the Territory with respect to Regulatory Approvals, including
filing and maintaining any required Regulatory Approvals, seeking necessary permits and/or scheduling or re-scheduling in controlled
substance listings or de-scheduling of the Product from controlled substances listings in the Territory).

 

		d)	Each of Novartis and GW will (and GW will cause each of its Third Party designee(s) to) use its
best efforts in order to ensure a smooth transition of the regulatory affairs and activities relating to the Product in the Territory
in accordance with this Section 3.4 on or before 31 January 2017.

 

		e)	On or before 31 January 2017, Novartis shall provide GW with copies of all filings and correspondence
submitted to, or received from, any Regulatory Authority to the extent they relate to all relevant Product(s) in the Territory
and are still available at Novartis. Novartis will forward to GW any correspondence received from any Regulatory Authority in the
Territory after 31 January 2017 to the extent they relate to the Product and are still available at Novartis.

 

		f)	Notwithstanding the foregoing, Novartis will file an application for the certification of the reimbursement
price for the Product in Kuwait with the Ministry of Health in Kuwait on or before 31 January 2017.

 

		g)	Notwithstanding the foregoing, Novartis will ensure that Novartis’ registered distributors
for Product in Kuwait and United Arab Emirates will deliver, at GW’s request, a letter of no objection (in a form reasonably
acceptable to GW and the applicable Regulatory Authority) consenting to its replacement of Novartis` distributor as the registered
distributor of Product in such country.

 

		h)	Notwithstanding the foregoing, Novartis will give Novartis’ registered distributors for Product
in United Arab Emirates notice of termination of its appointment as the registered distributor of Product in such country (in a
form reasonably acceptable to GW and the applicable Regulatory Authority).

 

    	 	4	 

     

    

 

		3.4	Effect of Termination on the Commercialization Activities Relevant to Sections 6.2 and 11.2
of the Agreement.

 

		a)	From and after the Termination Effective Date and except as expressly set forth in Section 3.3
of this Termination Agreement, GW will be solely responsible, at its own cost and expense, for all aspects of Commercialization
of the Product in the Territory, including planning and implementation, distribution, booking of sales, pricing, reimbursement,
regulatory, manufacturing, phase IV studies, marketing and sales activities.

 

		b)	Novartis hereby confirms that there are no clinical data generated by Novartis as part of any Phase
IV clinical study conducted by it in accordance with the Agreement and that no Phase IV clinical studies of any Product sponsored
by Novartis are on-going as of the Termination Effective Date.

 

		c)	Effective from and after the Termination Effective Date, Novartis hereby grants to GW an exclusive,
perpetual, irrevocable, fully paid-up, sublicensable license under the copyright and trade dress rights in the marketing, advertising
and promotional materials used by Novartis and its Affiliates to Commercialize the Product in the Territory, to make and have made
Regulatory Filings, import, have imported, use, have used, Commercialize and have Commercialized any Product in the Territory.
Expressly excluded from the foregoing license is the right for GW to use the Novartis Marks.

 

		3.5	Effect of Termination on the Trademark Rights and Licenses Relevant to Sections 6.3 and 11.2
of the Agreement. 

 

		a)	The Parties hereby agree that any licenses and other rights granted by GW to Novartis pursuant
to the Agreement to use the GW Trademark shall terminate in accordance with the following:

 

		i.	In all countries in the Territory other than the Approved Countries: All rights granted
to Novartis pursuant to the Agreement to use the GW Trademark in such countries shall cease immediately upon the Termination Effective
Date; and

 

		ii.	In each of the Approved Countries: All rights granted to Novartis pursuant to the Agreement
to use the GW Trademark in such countries shall cease upon completion of Novartis’ obligations under this Termination Agreement
to transfer to GW, or to its Third Party designee, all of Novartis’ rights in the Regulatory Approvals and Regulatory Filings.

 

		b)	As soon as practicable following the Termination Effective Date, Novartis will transfer to GW any
registrations for domain names owned or Controlled by Novartis or its Affiliates which correspond to or include any GW Trademark
for Product.

 

		c)	For the sake of clarity, Novartis exclusively owns and will, after the Termination Effective Date,
continue to exclusively own all rights in and to the Novartis Marks.

 

    	 	5	 

     

    

 

		3.6	Effect of Termination on the Pharmacovigilance Activities Relevant to Section 6.5 of the Agreement.

 

		a)	Subject to the terms and conditions set forth in the amendment to the Pharmacovigilance Agreement
referenced in Section 3.6(b) hereof, from and after the Termination Effective Date, GW will be solely responsible, at its
own cost and expense, for all pharmacovigilance activities related to or with respect to the Product in the Territory.

 

		b)	The Parties hereby agree that on or before 31 January 2017, the Parties will enter into an amendment
to the Pharmacovigilance Agreement setting forth the terms and conditions for a detailed transitional plan pursuant to which all
pharmacovigilance activities will be transitioned from Novartis to GW.

 

		c)	Novartis will use its best efforts to assist GW in its performance of its pharmacovigilance obligations
during the transitional phase in accordance with the detailed transitional plan referenced in Section 3.6(b), above.

 

		3.7	Effect of Termination on the Patents and Resulting Intellectual Property Relevant to Sections
2 and 8 of the Agreement.

 

		a)	For the sake of clarity, both Parties will retain all title, rights, interest, and ownership in
their respective Intellectual Property.

 

		b)	Each Party hereby confirms that no Resulting Intellectual Property was generated, developed or
created by either Party and that neither Party owns any Resulting Intellectual Property.

 

		3.8	Effect of Termination on the Sales in New Zealand to Individual Patients. 

 

		a)	From and after the Termination Effective Date but only until the NZ Transfer Date (as defined below),
Novartis will continue to supply to individual patients in New Zealand the amounts of Product sufficient to cover their medical
needs, who, as of the Termination Effective Date, receive Product from Novartis in all material respects in accordance with the
current practices and procedures for such supply already established (i.e., using Bayer UK packs that are converted locally into
saleable packs for the New Zealand market) (the “NZ Supply”) solely until both (i) the Regulatory Approval for
New Zealand has been transferred to GW and (ii) GW has established new mechanisms to distribute and supply Product in New Zealand
which have been approved by the Ministry of Health (the date that both (i) and (ii) are achieved, the “NZ Transfer Date”).

 

		b)	From and after the NZ Transfer Date:

 

		i.	GW will be exclusively solely responsible, at its own cost and expense, for any and all supply
of Product in New Zealand;

 

		ii.	Upon receipt by Novartis of reimbursement by GW of the Price originally paid by Novartis to GW
for any unexpired and saleable inventory of Product in Novartis’ warehouse as of the NZ Transfer Date , Novartis will transfer
such inventory to GW or its Third Party designee as soon as practicable following the NZ Transfer Date;

 

    	 	6	 

     

    

 

		iii.	Novartis will transfer to GW all pending supply requests and purchase orders related to the Product
received by Novartis.

 

		c)	Each Party shall use commercially reasonable efforts to ensure that such NZ Supply patients continue
to have access to the Product until the NZ Transfer Date and to ensure that the transfer will happen as soon as possible after
the Termination Effective Date. In the event that GW or its Third Party designee are unable to achieve prong (ii) of the definition
of “NZ Transfer Date” within 180 days of the Termination Effective Date, the Parties will discuss in good faith
the terms and conditions upon which Novartis can continue to supply Product to individual patients in order to provide such NZ
Supply patients with access to the Product.

 

		3.9	Effect of Termination on the Financial Provisions Relevant to Section 7 of the Agreement.

 

		a)	The Parties agree that any payment made by Novartis to GW relating to, arising out of, or in connection
with the Agreement (including the upfront payment paid pursuant to Section 7.1 of the Agreement) prior to the Termination Effective
Date will not be refunded to Novartis.

 

		b)	The Parties agree that upon the Termination Effective Date any obligation of Novartis to make royalty
payments to GW pursuant to Section 7.3 of the Agreement will immediately cease and that no Milestone Payments, as per Section 7.2
of the Agreement, are or will be due.

 

		c)	GW hereby confirms that it has not acquired and will not acquire licenses to any Relevant Third
Party Rights for which Novartis would need to pay fifty percent (50%) of the milestone payments, royalties and/or other license
fees.

 

		3.10	Mutual Release.

 

		a)	Except as expressly set forth in this Termination Agreement (including Section 3.11 hereof),
effective as of the Termination Effective Date, each of GW and Novartis hereby irrevocably releases and discharges the other from
all its obligations and liabilities under or in connection with the Agreement (including any and all related amendments, modifications
and ancillary agreements other than the Pharmacovigilance Agreement).

 

    	 	7	 

     

    

 

		b)	Each of the Parties, for itself and on behalf of its predecessors, successors, assigns, and Affiliates,
and its past, present and future directors, officers, agents, employees and representatives (the “Releasors”),
hereby affirms that the Releasors do not know of any claims by any Third Party for which the Releasors would seek indemnification
or any type of monetary recovery or injunctive relief from the other Party, its respective predecessors, successors, assigns, and
Affiliates, and each of their past, present and future directors, officers, agents, employees and representatives (the “Released
Parties”). The Releasors hereby completely and forever remise, release and discharge the Released Parties of any and
all claims by the Releasors for any and all actions, causes of action, suits, debts, dues, sums of money, accounts, covenants,
set offs, defenses, rights, obligations, liabilities, controversies, damages, executions, claims and demands whatsoever, in law
or in equity, in tort or contract, whether known or unknown, whether liquidated or unliquidated, whether contingent or fixed, against
the Released Parties (or any of them), that Releasors (or any of them) have or have ever had before the Termination Effective Date,
or may ever claim to have or have had before the Termination Effective Date, for, upon, or by reason of any matter, cause or thing
whatsoever, relating to, arising out of, or in connection with the Agreement (including any and all related amendments, modifications
and ancillary agreements). For the avoidance of doubt, this release does not apply to the rights and obligations set forth in this
Termination Agreement.

 

		3.11	Survivals.

 

Notwithstanding anything herein or in the
Agreement to the contrary, the only provisions of the Agreement that shall survive its termination are as follows: Section 1 of
the Agreement (Definitions and Interpretation); and Section 9 of the Agreement (Confidentiality).

 

		4.	GENERAL PROVISIONS 

 

		4.1	Assignment. Neither Party may assign this Termination Agreement nor its rights and obligations
under this Termination Agreement without the other Party’s prior written consent, except that Novartis may, without GW’s
consent, (a) assign its rights and obligations under this Termination Agreement or any part hereof to one or more of its Affiliates;
or (b) assign this Termination Agreement in its entirety to a successor to all or substantially all of its business or assets to
which this Termination Agreement relates. Any permitted assignee will assume all obligations of its assignor under this Termination
Agreement (or related to the assigned portion in case of a partial assignment). Any attempted assignment in contravention of the
foregoing will be void. Subject to the terms of this Termination Agreement, this Termination Agreement will be binding upon and
inure to the benefit of the Parties and their respective successors and permitted assigns.

 

		4.2	Severability. Should one or more of the provisions of this Termination Agreement become
void or unenforceable as a matter of law, then this Termination Agreement will be construed as if such provision were not contained
herein and the remainder of this Termination Agreement will remain in full force and effect. The Parties will use their best efforts
to substitute for the invalid or unenforceable provision a valid and enforceable provision which conforms as nearly as possible
with the original intent of the Parties.

 

		4.3	Written Form Clause. This Termination Agreement, together with its Exhibits, sets forth
the entire agreement and understanding of the Parties as to the subject matter hereof and supersedes all proposals, oral or written,
and all other prior communications between the Parties with respect to the Termination Agreement. No provision of this Termination
Agreement may be amended or modified other than by a written document signed by authorized representatives of each Party. In the
event of any conflict between a substantive provision of this Termination Agreement and the Agreement, the substantive provisions
of this Termination Agreement will prevail.

 

    	 	8	 

     

    

 

		4.4	Language, Applicable Law and Jurisdiction. This Termination Agreement was negotiated, written
and executed in the English language, which will be the only official version and will override any translated version to the extent
of any conflict. Any translation into any other language will only be an unofficial working-translation and will be irrelevant
for interpreting this Termination Agreement. This Termination Agreement shall be governed by, and construed in accordance with,
the laws which govern the Agreement, which provisions (Section 14.3 of the Agreement) are expressly incorporated herein by reference
mutadis mutandis. The Parties submit to the jurisdiction and dispute resolution provisions as set forth in the Agreement,
which provisions (Sections 14.3 and 14.4 of the Agreement) are expressly incorporated herein by reference mutadis mutandis.

 

		4.5	Waivers and Amendments. The failure of any Party to assert a right hereunder or to insist
upon compliance with any term or condition of this Termination Agreement will not constitute a waiver of that right or excuse a
similar subsequent failure to perform any such term or condition by the other Party. No waiver will be effective unless it has
been given in writing and signed by the Party giving such waiver. No provision of this Termination Agreement may be amended or
modified other than by a written document signed by authorized representatives of each Party.

 

		4.6	Notices. All notices, consents, waivers, and other communications under this Termination
Agreement must be in writing and will be deemed to have been duly given when: (a) delivered by hand (with written confirmation
of receipt); or (b) sent by facsimile (with provision for assurance of receipt in a manner typical with respect to communications
of that type); or (c) when received by the addressee, if sent by an internationally recognized overnight delivery service, in each
case to the appropriate addresses set forth below (or to such other addresses as a Party may designate by written notice):

 

If to GW:

 

GW Pharma Limited

Sovereign House,

Histon,

Cambridge,

CB24 9BZ

United Kingdom

Attention: Company Secretary

Fax number: +44 1223 235667

 

If to Novartis:

 

Novartis Pharma AG P.O. Box CH - 4002 Basel Switzerland
Attn: Head, Business Development and Licensing Fax: +41-61-324-2511

 

with a copy to:

 

Novartis Pharma AG P.O. Box CH - 4002 Basel Switzerland
Attn: Head, Legal Department Fax: +41-61-324-7399.

 

    	 	9	 

     

    

 

		4.7	Further Assurances. Parties hereby covenant and agree without the necessity of any further
consideration, to execute, acknowledge and deliver any and all such other documents and take any such other action as may be reasonably
necessary to carry out the intent and purposes of this Termination Agreement.

 

		4.8	Compliance with Law. Each Party will perform its obligations under this Termination Agreement
in accordance with all applicable Laws. No Party will, or will be required to, undertake any activity under or in connection with
this Termination Agreement which violates, or which it believes, in good faith, may violate, any applicable Law.

 

		4.9	No Third Party Beneficiary Rights. The provisions of this Termination Agreement are for
the sole benefit of the Parties and their successors and permitted assigns, and they will not be construed as conferring any rights
to any Third Party (including any third party beneficiary rights).

 

		4.10	Expenses In Concluding This Mutual Termination. Except as otherwise expressly provided in
this Termination Agreement, each Party will pay the fees and expenses of its respective lawyers and other advisors and all other
expenses and costs incurred by such Party incidental to the negotiation, preparation, execution and delivery of this Termination
Agreement.

 

		4.11	Interpretation. In this Termination Agreement, unless otherwise specified:

 

		a)	“includes” and “including” mean, respectively, “includes, without
limitation” and “including, without limitation”;

 

		b)	a Party includes its permitted assignees and/or the respective successors in title to substantially
the whole of its undertaking;

 

		c)	a statute or statutory instrument or any of their provisions is to be construed as a reference
to that statute or statutory instrument or such provision as the same may have been or may from time to time hereafter be amended
or re-enacted;

 

		d)	words denoting the singular will include the plural and vice versa and words denoting any gender
will include all genders;

 

		e)	the Exhibits and other attachments form part of the operative provisions of this Agreement and
references to this Termination Agreement will, unless the context otherwise requires, include references to the Exhibits and attachments;

 

		f)	the headings in this Termination Agreement are for information only and will not be considered
in the interpretation of this Termination Agreement;

 

		g)	general words will not be given a restrictive interpretation by reason of their being preceded
or followed by words indicating a particular class of acts, matters or things; and

 

    	 	10	 

     

    

 

		h)	the Parties agree that the terms and conditions of this Termination Agreement are the result of
negotiations between the Parties and that this Termination Agreement will not be construed in favor of or against any Party by
reason of the extent to which any Party participated in the preparation of this Termination Agreement.

 

		4.12	Force Majeure. In the event that either Party is prevented from performing its obligations
under this Termination Agreement as a result of any contingency beyond its reasonable control that could not have been avoided
by due care being taken by such non-performing Party (“Force Majeure”), including any actions of governmental
authorities or agencies, war, hostilities between nations, civil commotions, riots, national industry strikes, lockouts, sabotage,
shortages in supplies, energy shortages, fire, floods and acts of nature such as typhoons, hurricanes, earthquakes, or tsunamis,
the Party so affected will not be responsible to the other Party for any delay or failure of performance of its obligations hereunder,
for so long as Force Majeure prevents such performance. In the event of Force Majeure, the Party immediately affected thereby will
give prompt written notice to the other Party specifying the Force Majeure event complained of, and will use commercially reasonable
efforts to resume performance of its obligations. Notwithstanding the foregoing, if such a Force Majeure induced delay or failure
of performance continues for a period beyond 31 January 2017, either Party may terminate any remaining obligations under this Termination
Agreement upon written notice to the other Party.

 

		4.13	Authority to Enter this Mutual Termination. Each Party hereby covenants and represents to
the other Party that it has full right and authority to enter into this Termination Agreement without the consent or approval of
any Third Party.

 

		4.14	Counterparts. This Termination Agreement may be executed in two or more counterparts, by
manual, facsimile, pdf or electronic signature, each of which will be deemed an original, but all of which together will constitute
one and the same instrument.

 

		4.15	Cumulative Remedies. No remedy referred to in this Termination Agreement is intended to
be exclusive, but each will be cumulative and in addition to any other remedy referred to in this Termination Agreement or otherwise
available under Law.

 

[Signature Page Follows]

 

    	 	11	 

     

    

 

IN WITNESS WHEREOF, the parties intending to be bound have caused
this Termination Agreement to be executed by their duly authorized representatives.

 

	NOVARTIS PHARMA  AG 	 	GW PHARMA LTD
	 	 	 	 	 
	By: 	/s/ Stefan lbing	 	By: 	/s/ James Ryan 
	 	 	 	 	 
	Name: 	Stefan lbing	 	Name: 	James Ryan
	 	 	 	 	 
	Title: 	Authorised Signatory 	 	Title: 	Head of Legal Affairs
	 	 	 	 	 
	Date: 	25/11/2016	 	Date: 	28-11-2016
	 	 	 	 	 
	By: 	/s/ Britt Henderson	 	 	 
	 	 	 	 	 
	Name: 	Britt Henderson	 	 	 
	 	 	 	 	 
	Title: 	CFO Amal Pharma	 	 	 
	 	 	 	 	 
	Date: 	28-11-2016	 	 	 

 

    Signature Page to Termination AgreementExhibit 4.61

 

 

 

1 January 2016

 

Mr Cabot Brown

 

Dear Cabot

 

GW Pharmaceuticals plc (the "Company")

 

I am writing to record the amended terms of
your appointment as a non-executive Director of, GW Pharmaceuticals plc ("GW"). These amended terms will
take effect on 1 January 2016 and will continue until terminated by either party giving to the other not less than 3 months' prior
written notice or as provided for in paragraph 1 below.

 

The terms of appointment replace the previous
terms of you appointment by GW Pharmaceuticals Inc. dated 7 November 2013. Your employment by GW Pharmaceuticals Inc. ended on
31 December 2015.

 

		1.	Appointment

 

		(a)	Your appointment as a non-executive Director of GW is subject to the Articles of Association of
GW. Your appointment as a Director will be subject to the usual rules requiring your appointment and re-appointment to be approved
by shareholders. Your appointment as a non-executive Director will automatically terminate without any entitlement to compensation
if you:

 

		(i)	are removed from office by a resolution of the shareholders;

 

		(ii)	are not re-elected to office; or

 

		(iii)	cease to be a director by reason of your vacating office pursuant to any provision of the Company's Articles of Association.

 

		(b)	The Company may terminate your appointment with immediate effect if you:

 

		(i)	commit any act, whether or not in the course of your duties for the Company, which tends to bring you or the Company or Group
into disrepute;

 

     

     

    

 

		(ii)	commit a material breach of your obligations under this
letter;

 

		(iii)	commit any serious or repeated breach or non-observance of your obligations to the Company (which include an obligation not
to breach your duties to the Company, whether statutory, fiduciary or common law);

 

		(iv)	are declared bankrupt or have made an arrangement with, or for the benefit of, your creditors;

 

		(v)	are convicted of any arrestable criminal offence (other than an offence under road traffic legislation in the UK or elsewhere
for which a fine or non-custodial penalty is imposed); or

 

		(vi)	are unavailable to perform your duties under your appointment for 6 months consecutively or in aggregate in any period of one
year.

 

		(c)	During any period of notice in accordance with this agreement, the Company may at its absolute
discretion ask you not to attend any Board or General meetings or to perform any other services on its behalf.

 

		(d)	Non-executive directors on the GW Board are typically expected to serve two three-year terms but
you may be invited by the Company to serve for an additional period on the Board. Any term renewal is subject to Board review and
GW AGM re-election. Notwithstanding any mutual expectation, there is no right to re-nomination by the Board, either annually or
after any three-year period.

 

		(e)	Upon the ending of your appointment for any reason, you will resign at the request of the Company,
without any claim for compensation (other than for accrued and unpaid fees due under this letter), from all directorships and other
offices held by you in the Company and any other member of the Group and from all trusteeships held by you of any pension scheme
or other trusts established by any member of the Group. Should you fail to do so, you irrevocably appoint any member of the Board
as your attorney in your name and on your behalf to sign any documents and take such other steps as are necessary to give effect
to those resignations.

 

		2.	Time commitment

 

		(a)	You will be expected to devote such time, in the UK, as is necessary for the proper performance
of your duties, and you should be prepared to spend at least 12 days per annum attending meetings representing the Company business
interests. You are expected to attend GW Board Meetings and GW General Meetings of the shareholders of GW as and when they are
held. In connection with attendance at the meetings, you will exercise such functions that are specifically delegated to you from
time to time by the Board.

 

     

     

    

 

		(b)	You will be required to sit on the Remuneration Committee, the Nomination Committee and the Audit
Committee of the GW Board.

 

		(c)	We expect this role to involve attendance at six GW Board meetings, the GW Annual General Meeting,
GW Audit committee meetings with auditors and occasional attendance, as required, and meetings with other advisers and shareholders.
Unless urgent and unavoidable circumstances prevent you from doing so, it is expected that you will attend these meetings, to be
held in the UK.

 

		(d)	Additional time may be required, on an ad-hoc basis, to attend meetings to deal with certain GW
Board and sub-committee matters as they arise. The nature of the role makes it impossible to be specific about the maximum time
commitment, and there is always the possibility of additional time commitment in respect of preparation time and ad hoc matters
which may arise from time to time, and particularly when the Company is undergoing a period of increased activity. At certain times,
it may be necessary to convene additional GW Board, committee or shareholder meetings.

 

		(e)	In accepting this role you are deemed to undertake that you have sufficient time available to commit
to the proper performance of this role. Prior to acceptance of the role you will be required to provide to the Company Secretary
details of your other Board appointments and significant commitments with a broad indication of the time involved and will be required
to update the Company Secretary from time to time of any changes to these commitments.

 

		3.	Remuneration and expenses

 

		(a)	Your fees will be $70,000 per annum, and will be subject to any deduction required by law. This
will be paid monthly in arrears. You are not eligible for any other benefits.

 

		(b)	This fee will be reviewed from time to time by the GW Board. It is our current practice to review
these fees at the end of each calendar year although such review does not imply nor guarantee any increase.

 

		(c)	You will not be entitled to participate in any Group pension scheme

 

     

     

    

 

		(d)	You will be reimbursed for all reasonable out-of-pocket expenses properly incurred by you on Company
business, including costs associated with you attending UK Board, Committee and General Meetings. Reimbursement would include the
reasonable cost of obtaining legal advice, if circumstances should arise where it was necessary for you to seek such advice separately,
about your responsibilities as a non-executive director of the Company although you should initially raise any such concerns with
the Chairman of the Company. This advice should be obtained, and reimbursement will only be made, in accordance with any formal
procedure for directors to take independent professional advice adopted from time to time by the Company and a copy of the current
version will be supplied to you. Claims for reimbursement should be accompanied by evidence of expenditure.

 

		4.	Insurance

 

The Company will,
at its expense, provide you with director's and officer's liability insurance, subject to the provisions governing such insurance
and on such terms as the Board may from time to time decide (including but not limited to terms relating to the level of cover,
deductibles, caps, exclusions and aggregate limits) and subject to the obtaining of insurance at reasonable rates of premium. No
undertaking is given regarding the continuation of this insurance, other than that you will be covered for as long as it remains
in place for the directors of the Company.

 

		5.	Duties

 

		(a)	You will be expected to perform your duties, whether statutory, fiduciary or common-law, faithfully,
efficiently and diligently to a standard commensurate with both the functions of your role and your knowledge, skills and experience.

 

		(a)	You will exercise your powers in your role as a non-executive director having regard to relevant
obligations under prevailing law and regulation, including the Companies Act 2006. You are also required to comply with the requirements
of Nasdaq. You will be advised by the Company Secretary where these differ from requirements in the UK.

 

		(b)	You will have particular regard to the general duties of directors as set out in Part 10, Chapter
2 of the Companies Act 2006, including the duty to promote the success of the company:

 

"A director
of a company must act in the way he considers, in good faith, would be most likely to promote the success of the company for the
benefit of its members as a whole, and in doing so have regard (amongst other matters) to - 

 

		(a)	the likely consequences of any decision in the long term, 

 

		(b)	the interests of the company's employees, 

 

		(c)	the need to foster the company's business relationships with suppliers, customers and others,

 

     

     

    

 

		(d)	the impact of the company's operations on the community and the environment, 

 

		(e)	the desirability of the company maintaining a reputation for high standards of business conduct,
and 

 

		(f)	the need to act fairly as between members of the company."

 

		(c)	In your role as non-executive director you will be required to:

 

		·	constructively challenge and help develop proposals on strategy;

 

		·	scrutinise the performance of management in meeting agreed goals and objectives and monitor the
reporting of performance;

 

		·	satisfy yourself on the integrity of financial information and that financial controls and systems
of risk management are robust and defensible;

 

		·	determine appropriate levels of remuneration of executive directors and have a prime role in appointing
and, where necessary, removing executive directors, and in succession planning;

 

		·	devote time to developing and refreshing your knowledge and skills;

 

		·	uphold high standards of integrity and probity and support me and the other directors in instilling
the appropriate culture, values and behaviours in the boardroom and beyond;

 

		·	insist on receiving high-quality information sufficiently in advance of board meetings; and

 

		·	take into account the views of shareholders and other stakeholders where appropriate.

 

		(d)	You will be required to exercise relevant powers under, and abide by, GW’s articles of association.

 

		(e)	You will be required to exercise your powers as a director in accordance with GW’s policies
and procedures.

 

		(f)	You will disclose any direct or indirect interest which you may have in any matter being considered
at a board meeting or committee meeting and, save as permitted under the articles of association, you will not vote on any resolution
of the Board, or of one of its committees, on any matter where you have any direct or indirect interest.

 

     

     

    

 

		(g)	You will immediately report to the Chairman your own wrongdoing or the wrongdoing or proposed wrongdoing
of any employee or director of which you become aware.

 

		(h)	Unless specifically authorised to do so by the Board, you will not enter into any legal or other
commitment or contract on behalf of the Company.

 

		6.	Outside interests

 

During your appointment
you may not, without the prior approval of the Board, accept a directorship of a company or provide your services to anyone who
is a competitor of the Group. The Board's agreement will not be given if such appointment or involvement would conflict with or
is likely to interfere with this appointment. It is the parties understanding that the definition of a competitor shall be restricted
to a project, business or activity, directly or indirectly, involving cannabinoid research. Please let the Company Secretary have
a list of your current commitments for our records and keep him updated in that respect.

 

		7.	Confidentiality

 

You should not,
during your appointment (except in the proper performance of your duties and then only to those who need to know such information)
or after it has ceased (except as required by law), disclose to any person, company or other organisation or use otherwise than
for the benefit of the Group any confidential information or trade secrets concerning its business. This includes but is not limited
to:

 

		(a)	corporate and marketing strategy, acquisition and investment proposals, business development and
plans, maturing business opportunities, sales reports and research results;

 

		(b)	business contacts, lists of customers and suppliers and details of contracts with customers and
suppliers and their current or future requirements;

 

		(c)	budgets, financial plans and management accounts, trading statements and other financial reports
and information;

 

		(d)	unpublished price sensitive information about the Group; and

 

		(e)	any document marked "confidential" and any information which by its nature is commercially
sensitive.

 

     

     

    

 

		8.	Compliance

 

		(a)	You are expected to comply with the Company's articles of association, the City Code on Takeovers
and Mergers, applicable stock exchange rules and regulations and the Company's relevant internal codes. In particular during your
appointment you will comply, and will procure, so far as you are able, that your spouse or Civil Partner and dependent children
(if any) or any trust in which you or your spouse or Civil Partner may be concerned or interested as trustee or beneficiary, comply
with any code of conduct relating to securities transactions by directors and specified employees adopted by the Company from time
to time.

 

		(b)	You will promptly give the Company such information as the Company or any member of the Group may
require to enable it to comply with its legal and regulatory obligations whether to any securities or investment exchange or regulatory
or governmental body to which any member of the Group is, from time to time, subject or howsoever arising.

 

		9.	Return of Company property

 

When your appointment
ends, you should, unless otherwise agreed in writing, immediately return all documents and other property belonging to any member
of the Group and which may be in your possession or under your control. No copies (including electronic copies) should be retained
by you or by anyone on your behalf.

 

		10.	Data protection

 

By signing this
letter you consent to the Company holding and processing information about you for legal, personnel, administrative and management
purposes and in particular to the processing of any sensitive personal data (as defined in the Data Protection Act 1998) including,
as and when appropriate:

 

		(i)	information about your physical or mental health or condition
in order to monitor sick leave and take decisions as to your fitness to perform your duties;

 

		(ii)	information about you that may be relevant to ensuring equality of opportunity and treatment in line with the Company’s
equal opportunities policy and in compliance with equal opportunities legislation; and

 

		(iii)	information relating to any criminal proceedings in which you have been involved, for insurance purposes and in order to comply
with legal requirements and obligations to third parties.

 

You consent to
the transfer of such personal information to any member of the Group (or a company appointed by them for such purposes), whether
or not outside the European Economic Area, for administration purposes and other purposes in connection with your appointment,
where it is necessary or desirable for the Company to do so.

 

     

     

    

 

		11.	Non-compete

 

In consideration
for the fees payable to you under this letter, you agree you will not (except with prior written consent of the GW Board) directly
or indirectly do or attempt to, for the period of 12 months immediately after the termination of your office, to any material extent,
undertake, carry on or be employed, engaged or interested in any capacity in the supply or proposed supply of Competitive Services
within the Territory. For the purposes of this paragraph, "Competitive Services" means any business connected to the
marketing, sales or distribution, or development or proposed development of pharmaceuticals from cannabinoids which is competitive
with the Company's or GW, or GW Pharma's businesses; and "Territory" means England, Wales, Scotland and/or Northern Ireland
and any other country, or, in the United States, any state, which the Company or any member of the Group is operating or planning
to operate a competitive business at the end of your appointment.

 

		12.	Rights of third parties

 

The Contracts (Rights
of Third Parties) Act 1999 shall not apply to this letter. No person other than you and the Company shall have any rights under
this letter and the terms of this letter shall not be enforceable by any person other than you and the Company.

 

		13.	Miscellaneous 

 

		(a)	For the purpose of this letter:

 

the "Board"
shall mean the board of directors of the Company as constituted from time to time;

 

"Civil Partner"
means a civil partner as defined by the Civil Partnership Act 2004; and

 

the "Group"
means any of the following from time to time: the Company, its subsidiaries and subsidiary undertakings and any holding company
or parent undertaking of the Company and all other subsidiaries and subsidiary undertakings of any holding company or parent undertaking
of the Company, where "holding company", "parent undertaking", "subsidiary" and "subsidiary
undertaking" have the meanings given to them in the Companies Act 2006.

 

		(b)	This letter will be construed in accordance with English law and you and the Company irrevocably
submit to the exclusive jurisdiction of the English Courts to settle any dispute which may arise in connection with this letter.

 

		(c)	This letter constitutes the entire terms and conditions of your appointment. No variation or addition
to this letter and no waiver of any provision of it will be valid unless in writing and signed by or on behalf of both parties.

 

     

     

    

 

I would ask you to countersign the enclosed
copy of this letter to confirm the basis of your appointment with the Company and to show acceptance of the terms of this letter
by executing it as a deed.

 

I look forward to continuing to work with you
to the general benefit of our shareholders.

 

Yours sincerely

 

/s/ Adam George

 

Adam George

 

For and on behalf of the Board of Directors
of GW Pharmaceuticals plc

 

Signed as a Deed by:

 

	     /s/ Cabot Brown	Date	     2/4/16

 

in the presence of :

 

	 Witness:	/s/ Adam George	 
	 	 	 
	Name:	Adam George	 
	 	 	 
	 Address:	c/o 1 Cavendish Place, London	 
	 	 	 
	 Occupation:  	Chief Financial Officer

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