Document:

Exhibit 10.18

 

 

	Participant
    Id	Name	Address	Country
	 	 	 	 

 

	Overview:

     

    A. TerrAscend Corp. (the “Corporation”) has a stock
    option plan with an original effective date of March 8, 2017 and an amended and restated effective date of November 2,
    2021 (as it may be further amended at any time in accordance with its terms) (the “Plan”). A copy of the Plan in effect
    on the date of this agreement is available to download below and is stored in your Document Library (under “Resources”
    tab).

     

    B. The board of directors of the Corporation has authorized the
    granting to you (the “Participant”) of options under the Plan, having the terms set out in this online grant acceptance
    (the “Options”).

     

    C. All capitalized terms used in this grant acceptance but not
    defined herein shall have the meanings ascribed to them in the Plan.

 

Award Details

 

	Recipient
    

Name	Grant
    Number	Grant
    Date	Market
    Price @

Award	Options
    Granted	Plan
    Name	Grant
    

Expiration

Date
	 	 	 	 	 	 	 

 

Vesting Details

 

	Vest
    Date	Vesting
    Amount
	 	 
	Totals	 

 

	OTHER TERMS:

     

    In addition to the Plan, the Options are subject to the “Other
    Terms” available for download below. The Participant is required to download and review the Plan and the Other Terms before
    accepting the Options.

 

    	 	 

     

    

 

 

 

I accept and agree to be bound by all of the terms set out above and
included as Other Terms and to accept and be bound by the Plan.

 

Please click the links below to review the Plan and the Other
Terms

 

	 

     ̈ Other
    Terms for Options

     

     ̈ Stock
    Option Plan

     

 

	Print	Accept	Deny	Cancel	Back

 

    	 	 

     

    

 

 Other Terms for Options

 

Effect of Termination. The expiry
of the Options will be accelerated if the Participant ceases to be an Eligible Person (as defined in the Plan), including as a result
of a termination of the Participant’s employment, as set out in further detail in sections 4.10 and 4.14 of the Plan.

 

Withholding Taxes. The Corporation
may take reasonable steps for the withholding of any taxes or other source deductions that it is required to remit in connection with
the Options or any issuance of shares upon the exercise of the Options, as described in more detail in the Plan.

 

Transferability. The Participant
will not, directly or indirectly, transfer or assign the Options, except as expressly permitted in the Plan.

 

Incentive Stock Options. If the
Option is identified above as an “ISO” (or “Incentive Stock Option”), then the following additional rules apply,
which rules are also set forth in the Plan:

 

		·	To
                                            the extent that the aggregate fair market value of the Shares with respect to which Incentive
                                            Stock Options are exercisable for the first time during any calendar year exceeds US$100,000,
                                            such excess shall be considered to be Nonqualified Stock Options. For this purpose, the “fair
                                            market value” of the Shares subject to Options shall be determined as of the Grant
                                            Date of the Options. In reducing the number of Options treated as Incentive Stock Options
                                            to meet the US$100,000 limit, the most recently granted Options shall be reduced first. To
                                            the extent that a reduction of simultaneously granted Options is necessary to meet the US$100,000
                                            limit, the Board may, in the manner and to the extent permitted by law, designate which Shares
                                            are to be treated as shares acquired pursuant to the exercise of an Incentive Stock Option.

 

		·	The
                                            Option will terminate and no longer be exercisable on the tenth (10th) anniversary of the
                                            Grant Date of such Option.

 

		·	The
                                            Option may not be transferred, assigned, or pledged by the Participant, except by will or
                                            by the laws of descent and distribution. The Option may be exercised during the Participant’s
                                            lifetime only by the Participant.

 

		·	If
                                            the Participant makes any disposition of Shares issued to the Participant pursuant to the
                                            exercise of the Option under the circumstances described in Section 421(b) of the
                                            Code (relating to certain disqualifying dispositions), then the Participant agrees to notify
                                            the Corporation of such disposition within ten (10) days thereof.

 

U.S. Participant Representations.
If the Participant is a U.S. Participant, then such Participant hereby represents and warrants to the Corporation as follows in connection
with such Participant’s acceptance of any grant of Options:

 

		·	The
                                            U.S. Participant is familiar with the provisions of Rule 701 promulgated under the U.S.
                                            Securities Act of 1933, as amended (the “Securities Act”), and the provisions
                                            of Rule 144 promulgated under the Securities Act (“Rule 144”), which
                                            permit limited public resales of “restricted securities” acquired, directly or
                                            indirectly, from the issuer thereof, in a non-public offering subject to the satisfaction
                                            of certain conditions.

 

    	 	-1-	 

     

    

 

		·	The
                                            U.S. Participant acknowledges and agrees that the Plan and the grant of Options are intended
                                            to comply with Rule 701 (and, to the extent applicable, Section 25102(o)), and
                                            any provision that is inconsistent with Rule 701 (and, to the extent applicable Section 25102(o))
                                            shall, without further action or amendment by the Corporation, be reformed to comply with
                                            the requirements of Rule 701 and/or Section 25102(o).

 

		·	The
                                            U.S. Participant understands that (i) the exercise of the Option and the issuance and
                                            transfer of the Shares shall be subject to compliance by the Corporation and the U.S. Participant
                                            with all applicable requirements of federal, foreign, and state securities laws and with
                                            all applicable requirements of any stock exchange on which the Shares may be listed at the
                                            time of such issuance or transfer and (ii) the Corporation is under no obligation to
                                            register or qualify the Shares with the U.S. Securities and Exchange Commission (the “SEC”),
                                            any state securities regulator or governmental body, or any stock exchange to effect such
                                            compliance.

 

		·	The
                                            U.S. Participant acknowledges and agrees that he/she shall not transfer, assign, grant a
                                            lien or security interest in, encumber, pledge, hypothecate, or otherwise dispose of any
                                            of the Shares (or any interest therein) unless and until the U.S. Participant shall have
                                            provided the Corporation with written assurances, in form and substance satisfactory to the
                                            Corporation (or its counsel), that: (i)(A) the proposed transfer or disposition does
                                            not require registration under any applicable federal, foreign, or state securities laws,
                                            and (B) all appropriate actions necessary for compliance with the registration requirements
                                            or of any exemption available under the Securities Act, including, without limitation, Rule 144,
                                            or other applicable federal, foreign, and state securities laws have been taken by such U.S.
                                            Participant; and (ii) the proposed disposition or transfer will not result in the contravention
                                            of any transfer restrictions applicable to the Shares pursuant to the provisions of the regulations
                                            promulgated under Rule 701, Section 25102(o), to the extent applicable, or under
                                            any other applicable securities laws or adversely affect the Corporation’s ability
                                            to rely on the exemption(s) from registration under the Securities Act or under any
                                            other applicable securities laws for the grant of the Option, the issuance of the Shares
                                            thereunder, or any other issuance of securities under the Plan.

 

		·	If
                                            the U.S. Participant is a resident of the State of California on the date of the Option grant
                                            and which grant is intended to be exempt from registration in California pursuant to Section 25102(o),
                                            then such U.S. Participant has read and reviewed the limitations, terms, and conditions set
                                            forth in the California Supplement to the Plan.

 

		·	The
                                            U.S. Participant understands and acknowledges that the Corporation will rely, without qualification
                                            or limitation, upon the accuracy of the representations set forth herein and the U.S. Participant
                                            hereby consents to such reliance.

 

Rights of Participant. The Participant
will not have any rights as a shareholder of the Corporation with respect to any of the shares issuable on exercise of the Options until
the Participant has exercised the Options in accordance with the terms of the Plan and has been issued the shares. Nothing in the Plan
or this online grant acceptance will confer on the Participant any right to continue in the employment or service of the Corporation
or any Subsidiary or affect in any way the right of the Corporation or any Subsidiary to terminate the Participant's employment or service
at any time.

 

Independent Legal Advice. The Participant
acknowledge that he/she had the opportunity to receive independent legal advice from his/her own counsel with respect to the terms of
this online grant acceptance, and understands the risks associated with acquiring shares pursuant to the Plan.

 

    	 	-2-	 

     

    

 

Governing Law. This online grant
acceptance is governed by, and is to be construed and interpreted in accordance with, the laws of the Province of Ontario and the laws
of Canada applicable in that Province.

 

Time of Essence. Time is of the
essence in all respects of this online grant acceptance.

 

    	 	-3-Exhibit 10.20

 

 

 

	Participant
    Id	Name	Address	Country
	 	 	 	 

 

	Overview:

     

    A. TerrAscend Corp. (the “Corporation”) has a share
    plan with an original effective date of November 19, 2019 and an amended and restated effective date of November 2, 2021
    (as it may be further amended at any time in accordance with its terms) (the “Plan”). A copy of the Plan in effect on
    the date of this agreement is available to download below and is stored in your Document Library (under “Resources” tab).

     

    B. The board of directors of the Corporation has authorized the
    granting to you (the “Participant”) of share units under the Plan, having the terms set out in this online grant acceptance
    (the “Share Units”).

     

    C. All capitalized terms used in this grant acceptance but not
    defined herein shall have the meanings ascribed to them in the Plan.

 

Award Details

 

	Recipient

    Name	Grant
    Number	Grant
    Date	Market
    Price @

Award	Restricted
    Shares 

Granted	Plan
    Name
	 	 	 	 	 	 
	 	 	 	 	 	 	 

Vesting Details

 

	Vest
    Date	Vesting
    Amount
	 	 
	Totals	 

 

	OTHER TERMS:

     

    In addition to the Plan, the Share Units are subject to the “Other
    Terms” available for download below. The Participant is required to download and review the Plan and the Other Terms before
    accepting the Share Units.

 

    	 	 	 

     

    

 

 

 

I accept and agree to be bound by all of the terms set out above and
included as Other Terms and to accept and be bound by the Plan.

 

Please click the link below to review the rules of the
plan.

 

	 

     ̈ RSU
    Other Terms

     

     ̈ Stock
    Unit Plan

     

 

	Print	Accept	Deny	Cancel	Back

 

    	 	 	 

     

    

 

 

Other Terms for Share Units

 

Settlement.

 

		·	The
                                            Participant understands that the settlement of the Share Units are subject to Section 6
                                            of the Plan, including, without limitation, the timing rules set forth in Section 6.1.1
                                            thereof.

 

		·	For
                                            purposes of Section 6.3 of the Plan, the Vesting Dates for the Share Units, provided
                                            that the Participant is Employed on the relevant Vesting Date, are as set forth under “Vesting
                                            Details” in the online grant acceptance.

 

Taxation and Withholding. The Participant
has read and understands Section 9.2 of the Plan. The Participant understands that the Corporation and its Subsidiaries may withhold
income and/or other employment taxes (such as social security and Medicare taxes) from any payments due to the Participant under the
Plan and this grant acceptance and/or from any other amount payable to the Participant by the Corporation or any of its Subsidiaries,
whether or not under the Plan.

 

No Right to Continued Employment.
The Participant has read and understands Section 9.3 of the Plan. Nothing therein or herein, or by virtue of the fact that the Participant
is receiving this grant of Share Units, entitles the Participant to continued employment for any specified period of time.

 

Section 409A. The Participant
has read and understands Section 9.8 of the Plan. The Participant understands that the Share Units are intended to be exempt from,
or compliant with the requirements of, Section 409A, and that the terms of Section 9.8 of the Plan apply to the Share Units.
The Participant understands that neither the Corporation nor any of its Subsidiaries is making any representation to him/her about the
effect of Section 409A on the Share Units or the taxation of the Share Units under Section 409A. The Participant understands
that he/she is responsible for seeking his/her own tax advice with respect to the tax effects of the Share Units.

 

U.S. Securities Law Representations.
The Participant has read and understands Section 9.9 of the Plan, and hereby represents and warrants to the Corporation as follows
in connection with his/her acceptance of this grant of Share Units:

 

		·	The
                                            Participant is familiar with the provisions of Rule 701 promulgated under the U.S. Securities
                                            Act of 1933, as amended (the “Securities Act”), and the provisions of Rule 144
                                            promulgated under the Securities Act (“Rule 144”), which permit limited
                                            public resales of “restricted securities” acquired, directly or indirectly, from
                                            the issuer thereof, in a non-public offering subject to the satisfaction of certain conditions.

 

		·	The
                                            Participant acknowledges and agrees that the Plan and this grant of Share Units are intended
                                            to comply with Rule 701 (and, to the extent applicable, Section 25102(o)), and
                                            any provision that is inconsistent with Rule 701 (and, to the extent applicable, Section 25102(o))
                                            shall, without further action or amendment by the Corporation, be reformed to comply with
                                            the requirements of Rule 701 and/or Section 25102(o).

 

		·	The
                                            Participant understands that (i) the issuance and transfer of any securities (including
                                            the Share Units) under the Plan shall be subject to the Participant’s and the Corporation’s
                                            compliance with all applicable requirements of federal, foreign, and state securities laws
                                            and with all applicable requirements of any stock exchange on which such securities may be
                                            listed at the time of such issuance or transfer and (ii) the Corporation is under no
                                            obligation to register or qualify any such securities with the U.S. Securities and Exchange
                                            Commission (the “SEC”), any state securities regulator or governmental body,
                                            or any stock exchange to effect such compliance.

 

    	 	-1-	 

     

    

 

		·	The
                                            Participant acknowledges and agrees that he/she shall not transfer, assign, grant a lien
                                            or security interest in, encumber, pledge, hypothecate, or otherwise dispose of any of the
                                            securities (or any interest therein) issued under the Plan unless and until the Participant
                                            shall have provided the Corporation with written assurances, in form and substance satisfactory
                                            to the Corporation (or its counsel), that: (i)(A) the proposed transfer or disposition
                                            does not require registration under any applicable federal, foreign, or state securities
                                            laws, and (B) all appropriate actions necessary for compliance with the registration
                                            requirements or of any exemption available under the Securities Act, including, without limitation,
                                            Rule 144, or other applicable federal, foreign, and state securities laws have been
                                            taken by the Participant; and (ii) the proposed disposition or transfer will not result
                                            in the contravention of any transfer restrictions applicable to the Shares pursuant to the
                                            provisions of the regulations promulgated under Rule 701, Section 25102(o), to
                                            the extent applicable, or under any other applicable securities laws or adversely affect
                                            the Corporation’s ability to rely on the exemption(s) from registration under
                                            the Securities Act or under any other applicable securities laws for this grant of the Share
                                            Units or any other issuance of securities under the Plan.

 

		·	If
                                            the Participant is a resident of the State of California on the date of this grant of Share
                                            Units (or any other issuance of securities under the Plan) and which grant is intended to
                                            be exempt from registration in California pursuant to Section 25102(o), then the Participant
                                            acknowledges and agrees that he/she has read and reviewed the limitations, terms, and conditions
                                            set forth in the California Supplement to the Plan.

 

		·	The
                                            Participant understands and acknowledges that the Corporation will rely, without qualification
                                            or limitation, upon the accuracy of the representations set forth herein and the Participant
                                            hereby consents to such reliance in all respects.

 

Transferability. The Participant
will not, directly or indirectly, transfer or assign the Share Units, except as expressly permitted in the Plan.

 

Rights of Participant. Share Units
are not Shares and a grant of Share Units will not entitle a Participant to any shareholder rights, including, without limitation, voting
rights, dividend entitlement, or rights on liquidation. Nothing in the Plan or this online grant acceptance will confer on the Participant
any right to continue in the employment or service of the Corporation or any Subsidiary or affect in any way the right of the Corporation
or any Subsidiary to terminate the Participant's employment or service at any time.

 

Independent Legal Advice. The Participant
acknowledge that he/she had the opportunity to receive independent legal advice from his/her own counsel with respect to the terms of
this online grant acceptance, and understands the risks associated with acquiring shares pursuant to the Plan.

 

Governing Law. This online grant
acceptance is governed by, and is to be construed and interpreted in accordance with, the laws of the Province of Ontario and the laws
of Canada applicable in that Province.

 

Time of Essence. Time is of the
essence in all respects of this online grant acceptance.

 

    	 	-2-

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