Document:

Exhibit
10.2

EMPLOYMENT
AGREEMENT

EMPLOYMENT
AGREEMENT (this “Employment Agreement”), dated as of January 10, 2014, by and between STEVEN MADDEN,
LTD., a Delaware corporation with offices at 52-16 Barnett Avenue, Long Island City, N.Y. 11104 (the “Company”),
and AWADHESH SINHA, an individual residing at 46 School House Lane, Roslyn Heights, N.Y. 11577 (the “Executive”).

WITNESSETH:

WHEREAS,
the Executive has served as the Chief Operating Officer of the Company since July 1, 2005; and

WHEREAS,
the Company desires to continue to retain the services of the Executive and the Executive desires to continue his employment with
the Company and, as such, the parties have determined to enter into a new employment agreement, setting forth the terms and conditions
upon which the Executive shall continue to be employed by the Company and upon which the Company shall compensate the Executive
from and after January 1, 2014 (the “Effective Date”);

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual promises, terms, provisions and conditions set forth
in this Employment Agreement, the parties hereby agree as follows:

Section 1.         Employment.
The Company shall employ the Executive in its business, and the Executive shall continue to work for the Company as its Chief
Operating Officer, subject to the terms and conditions set forth in this Employment Agreement.

Section
2.         Duties.

2.1      Duties. The Executive shall perform such duties as may reasonably be assigned to him
from time to time by the Chief Executive Officer of the Company and agrees to abide by all By-laws, policies, practices, procedures
and rules of the Company. During the Term (as defined below), the Executive shall devote all of his business time to the performance
of his duties hereunder unless otherwise authorized by the Board of Directors. Without limiting any policies, practices, procedures
or rules of the Company otherwise applicable, the Executive also agrees that he shall not take personal advantage of any business
opportunities which arise during his employment and which may benefit the Company. All material facts regarding such opportunities
must be promptly reported to the Chief Executive Officer for consideration by the Company.

2.2      Service as Officer. During the Term (as defined below), the Executive shall, if elected
or appointed, serve as (a) an officer of any subsidiaries of the Company and/or entities affiliated with the Company in existence
or hereafter created or acquired and (b) a director of any such subsidiaries of the Company and/or entities affiliated with the
Company in existence or hereafter created or acquired, in each case, without any additional compensation for such services.

    	 

    	 

    
Section
3.          Term of Employment.

3.1       Term. The term of the Executive’s employment, unless sooner terminated in accordance
with the provisions set forth herein, shall be for a period of 3 years commencing on the Effective Date and expiring on December
31, 2016 (the “Initial Term”). Thereafter, unless sooner terminated in accordance with the provisions set forth
herein, this Employment Agreement shall be automatically renewed for successive one-year terms (each, a “Renewal Term”
and the Initial Term and any such Renewal Term, collectively, the “Term”) on the same terms set forth herein
unless at least 120 days prior to the expiration of the Initial Term or 90 days prior to the expiration of any Renewal Term, either
party notifies the other party in writing that he or it is electing to terminate this Employment Agreement at the expiration of
the then-current Term. If the Company notifies the Executive in writing of its intention not to renew this Employment Agreement
(other than for Cause or Total Disability as set forth in Sections 5.3 and 6), the Executive shall receive in cash an amount equal
to the then-current Base Salary prorated from the expiration of the then-current Term through 90 days after the expiration of
the then-current Term, payable to the Executive at such regular weekly, biweekly or semi-monthly time or times as the Company
makes payment of its regular payroll in the regular course of business.

3.2       Expiration. Upon the expiration of the Term or the earlier termination of the Executive’s
employment with the Company for any reason whatsoever, the Executive shall be deemed to have resigned as an officer of the Company
and of each and every subsidiary thereof for which he serves as an officer.

Section
4.          Compensation and Benefits of Executive.

4.1       Base Salary. In consideration of the Executive’s services to the Company during
the Term, the Company shall pay to the Executive the following base salary per annum (“Base Salary”), less
such deductions as shall be required to be withheld by applicable laws and regulations:

(i)         For the calendar year 2014, Six Hundred Thousand Dollars ($600,000);

(ii)        For the calendar year 2015, Six Hundred Thirty Thousand Dollars ($630,000); and

(iii)       For the calendar year 2016, Six Hundred Sixty-One Thousand Five Hundred Dollars ($661,500).

The Base
Salary payable to the Executive shall be paid at such regular weekly or semi-monthly intervals as the Company makes payment of
its regular payroll in the regular course of business.

4.2       Automobile
Allowance. The Company shall, at the direction of the Executive, either reimburse the Executive for, or directly pay the cost
of, the lease of an automobile during the Term and all usual expenditures in collection therewith (i.e. fuel, insurance, parking,
customary maintenance and repairs) in an amount not to exceed $1,850.00 per month, less such deductions as shall be required to
be withheld by applicable law and regulations. Any reimbursements by the Company pursuant to this Section 4.2 shall be subject
to, and made in accordance with, Section 5.7(b) hereof.

    	 

    	 

    
4.3       Restricted Stock Award. On January 15, 2014, the Company shall grant to the Executive,
as additional compensation, shares of the Company’s common stock, $0.0001 per share, subject to certain restrictions (the
“Restricted Common Stock”), such grant to be made under the Company’s 2006 Stock Incentive Plan, as amended.
The number of shares of Restricted Common Stock to be issued shall be determined by dividing One Million Dollars ($1,000,000)
by the closing price of the common stock of the Company on the grant date. The terms and conditions of the Restricted Common Stock
shall be as set forth in a Restricted Stock Award Agreement entered into by the Company and the Executive and the shares of Restricted
Common Stock shall vest and cease to be subject to restrictions in three equal installments: 331⁄3% on December 15, 2014;
331⁄3% on December 15, 2015; and 331⁄3% on December 15, 2016. 

4.4       Performance Bonus. In respect of each of 2014, 2015 and 2016, the Company shall pay
to the Executive a bonus (payable on or about March 15 of the following year) equal to two percent (2%) of the increase in the
Company’s EBITDA for such fiscal year over the EBITDA of the immediately prior fiscal year as derived from the financial
statements of the Company for such fiscal year, provided that such bonus shall not exceed Six Hundred Thousand Dollars ($600,000).
The first Three Hundred Thousand Dollars ($300,000) of the bonus in any fiscal year shall be payable in cash, and any amount in
excess of Three Hundred Thousand Dollars ($300,000) shall be payable in Restricted Common Stock vesting in three equal installments
on the first, second and third anniversaries of the grant date. If any business is acquired after the date hereof, EBITDA from
the acquired business shall be included in the bonus calculation starting with the first full quarter under Company ownership,
provided that the prior year’s EBITDA shall likewise be adjusted to include EBITDA from the acquired business for comparable
quarters in the prior year on a pro forma basis assuming the Company had owned the business.

4.5       Clawback of Incentive Compensation. Notwithstanding any provision in this Employment
Agreement to the contrary, the Executive agrees that any bonus or other incentive-based compensation that the Executive receives,
or has received, from the Company during the period of the Executive’s employment or following the termination of the Executive’s
employment with the Company shall be subject to recovery or “clawback” by the Company and repayment by the Executive,
upon demand, if, upon the determination of the Board of Directors or the Compensation Committee thereof or any applicable governmental
or regulatory agency, such bonus or other incentive-based compensation was based on either (a) materially inaccurate financial
statements or any other materially inaccurate performance metric criteria or (b) financial statements or performance metrics that
subsequently are restated or revised based upon the advice and recommendation of the Company’s internal auditor or independent
auditors, or following the Company’s consultation with the Securities and Exchange Commission; provided that
no bonus or other incentive-based compensation or award shall be subject to clawback more than 3 years after being paid or awarded
to the Executive unless such repayment demand is made based upon the fraud or intentional misconduct of the Executive, in which
event the demand period shall not be limited to 3 years. The Executive shall repay such compensation to the Company within 30
calendar days of receipt of written demand for repayment or as soon thereafter as is practicable. The Executive shall cooperate
with the Company to effect any clawback of compensation required by this Section 4.5 or any applicable law or regulation. The
Company shall be entitled to recovery of its reasonable legal fees and costs incurred in enforcing its clawback rights. The Executive’s
obligations under this Section 4.5 shall survive termination or expiration of this Employment Agreement and any termination of
employment of the Executive.

    	 

    	 

    
4.6       Expenses; Expense Reports. The Company shall pay directly or reimburse the Executive
for all reasonable and necessary expenses and disbursements incurred by the Executive for and on behalf of the Company in the
performance of his duties during the Term. The Executive shall submit to the Company, not less frequently than once in each calendar
month, reports of such expenses and disbursements in form normally used by the Company together with associated receipts or other
documentation evidencing such expenses. The Company’s obligations to pay for or reimburse the Executive for such expenses
shall be subject to compliance with this reporting obligation.

4.7        Benefits. The Executive shall be entitled to participate in such pension, profit sharing,
group insurance, option, hospitalization and group health and benefit plans and all other benefits and plans as the Company generally
makes available from time to time to its senior executives. In addition, the Company shall pay term life insurance premiums on
behalf of the Executive of approximately Three Thousand Five Hundred Dollars ($3,500) per year, less such deductions as shall
be required to be withheld by applicable laws and regulations.

4.8        Vacation. The Executive shall be entitled to paid vacation of 4 weeks per year during
which period all compensation and benefits shall be paid in full. The Executive shall take his vacation at such times as the Executive
and the Company shall determine is mutually convenient. Unused vacation time shall accrue or, at the option of the Company, may
be canceled in exchange for additional compensation equal to the Executive’s pro-rata Base Salary equivalent for such unused
vacation time.

4.9        Sick Days and Personal Days. The Executive shall be entitled to sick and personal
days off in accordance with the Company’s usual policies as set forth in the Company’s Employee Handbook as in effect
on the Effective Date, as the same may be amended from time to time.

Section
5.           Termination.

5.1        Death. This Employment Agreement shall terminate upon the death of the Executive;
provided, however, that the Company shall pay to the estate of the Executive, within 30 days after his death,
Base Salary and all other benefits as set forth herein for the 12-month period immediately subsequent to the date of the Executive’s
death. Thereafter, the Company’s obligations hereunder shall terminate.

5.2        Termination Due to Total Disability. Subject to the provisions of Section 6.2 hereof,
in the event that the Executive is discharged due to his Total Disability (as defined below), then this Employment Agreement shall
be deemed terminated and the Company shall be released from all obligations to the Executive with respect to this Employment Agreement
except obligations accrued prior to such termination and those obligations provided in Section 6.2 hereof.

    	 

    	 

    
5.3          Termination For Cause; Resignation without Good Reason.

(a)        In the event that the Executive is discharged for Cause (as defined below) or the Executive
resigns without Good Reason (as defined below), this Employment Agreement shall be deemed terminated and the Company shall be
released from all obligations to the Executive with respect to this Employment Agreement, except for obligations accrued prior
to such termination. The foregoing shall not be construed as a limitation of any rights or remedies available to the Company with
regard to any acts or omissions of the Executive that gave rise to the termination for Cause.

(b)        As used herein, the term “Cause” shall only mean: (i) a deliberate and
intentional breach by the Executive of a substantial and material duty and responsibility under this Employment Agreement that
is not remedied, if capable of being remedied, within 30 days after receipt of written notice by certified mail return receipt
requested from the Company specifying such breach; (ii) the Executive’s conviction of, or pleading guilty or nolo contendere
to, any crime constituting a felony in the jurisdiction involved; (iii) the conviction of the Executive of any crime involving
moral turpitude; or (iv) gross negligence or willful misconduct in the conduct of the Executive’s duties or willful refusal
or inability to perform such duties as may be delegated to the Executive which are consistent with the Executive’s position
as in effect just prior to such delegation, and such conduct is not corrected by the Executive within 30 days following receipt
by the Executive of written notice from the Board of Directors or the Chief Executive Officer, such notice to state with specificity
the nature of the breach, failure or refusal, gross negligence or willful misconduct related to the Executive’s employment
with the Company.

(c)        As
used herein, the term “Good Reason” shall mean the occurrence of any of the following:

 (i)        the assignment to the Executive, without his consent, of any duties inconsistent in any substantial
and negative respect with his positions, duties, responsibilities and status with the Company as contemplated hereunder or diminution
of such position, duties and status, if not remedied by the Company within thirty (30) days after receipt of written notice thereof
from the Executive;

 (ii)       any removal of the Executive, without his consent, from any positions or offices the Executive
held as contemplated hereunder (except in connection with the termination of the Executive’s employment by the Company for
Cause or on account of Total Disability pursuant to the requirements of this Employment Agreement), if not remedied by the Company
within thirty (30) days after receipt of written notice thereof from the Executive;

    	 

    	 

    

(iii)      a reduction by the Company of the Executive’s Base Salary as in effect as contemplated
hereunder, except in connection with the termination of the Executive’s employment by the Company;

(iv)      any termination of the Executive’s employment by the Company during the Term that is
not effected pursuant to the terms and provisions of this Employment Agreement;

(v)       any material breach by the Company of the terms of this Employment Agreement, which is not
remedied by the Company within thirty (30) days after receipt of written notice thereof from the Executive;

(vi)      the relocation of the Executive’s work location, without the Executive’s consent,
to a place more than seventy five (75) miles from the Company’s offices located at 52-16 Barnett Avenue, Long Island City,
New York; or

(vii)     the failure by any successor to the Company to expressly assume all obligations of the Company
under this Employment Agreement, which failure is not remedied by the Company within thirty (30) days after receipt of written
notice thereof from the Executive.

5.4        Termination other than for Cause or without Good Reason, Death or due to Total Disability.
Subject to the terms and conditions of this Employment Agreement, in the event that the Executive resigns for Good Reason or the
Company terminates the employment of the Executive other than for Cause, then such termination shall be effective 30 days after
the Executive’s receipt of notice of termination or the Company’s receipt of notice of resignation and in either event
the Executive shall receive, as liquidated damages, an amount equal to the Executive’s Base Salary that would have been
paid by the Company pursuant to Section 4.1 hereof for the longer of (i) the remainder of the then-current Term or (ii) 6 months,
such amount to be paid to the Executive by the Company at such regular weekly or semi-monthly intervals as the Company makes payment
of its regular payroll in the regular course of business; provided that, in the event of Executive’s death
such amount shall become payable to the Executive’s estate based on the Company’s regular payroll periods commencing
within 90 days following the Executive’s death; provided, further, that the Executive shall
cease to be entitled to any further payments under this Section 5.4 in the event that he becomes engaged in other full-time employment.

5.5        Termination upon a Change of Control. (a) If, during the period commencing on the
120th day immediately prior to a Change of Control (as defined below) and ending on the 90th day immediately
after a Change of Control, the Executive’s employment shall have been terminated by the Company (other than for death, Total
Disability or Cause) or by the Executive for Good Reason, the Executive shall receive, in cash, within 10 days of the date of
such termination or resignation of employment, an amount equal to three (3) times the total W-2 compensation received by the Executive
pursuant to Sections 4.1, 4.3, 4.4 and 4.7 of this Employment Agreement for the preceding 12-month period ending on the last previous
December 31, except that, in lieu of the actual Base Salary component received during such period under Section 4.1 of this Employment
Agreement, there shall be substituted the annual Base Salary to which the Executive was entitled as of the date of such termination
or resignation of employment.

    	 

    	 

    
In
the event that any payment (or portion thereof) to the Executive under this Section 5.5(a) is determined to constitute an “excess
parachute payment” under Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended, the following calculations
shall be made:

(i)        The
after-tax value to the Executive of the payments under this Section 5.5(a) without any reduction; and

(ii)       The after-tax value to the Executive of the payments under this Section 5.5(a) as reduced to the maximum amount (the “Maximum
Amount”) which may be paid to the Executive without any portion of the payments constituting an “excess parachute
payment.”

If
after applying the agreed upon calculations set forth above, it is determined that the after-tax value determined under clause
(ii) above is greater than the after-tax value determined under clause (i) above, the payments to the Executive under Section
5.5(a) shall be reduced to the Maximum Amount.”

(b)        “Change
of Control” as used herein, shall mean:

 (i)         when any “person” as defined in Section 3(a)(9) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), and as used in Section 13(d) and 14(d) thereof, including a “group”
as defined in Section l3(d) of the Exchange Act, but excluding the Company or any subsidiary or any affiliate or the Company or
any employee benefit plan sponsored or maintained by the Company or any subsidiary of the Company (including any trustee of such
plan acting as trustee) becomes the “beneficial owner” (as defined in Rule l3d-3 under the Exchange Act) of securities
of the Company representing 30% or more of the combined voting power of the Company’s then outstanding securities; or

 (ii)        when, during any period of 12 consecutive months, the individuals who, at the beginning of
such period, constitute the Board of Directors (the “Incumbent Directors”) cease for any reason other than
death to constitute at least a majority thereof; provided, however, that a director who was not a director
at the beginning of such 12-month period shall be deemed to have satisfied such 12-month requirement (and be an Incumbent Director)
if such director was elected by, or on the recommendation of or with the approval of, at least a majority of the directors who
then qualified as Incumbent Directors either actually (because they were directors at the beginning of such 12-month period) or
through the operation of this proviso; or

 (iii)        the occurrence of a transaction requiring stockholder approval for the acquisition of the
Company by an entity other than the Company or a subsidiary or an affiliate of the Company through purchase of assets, or by merger,
or otherwise.

5.6        Release. Payment of severance hereunder is conditioned on the Executive’s execution
and delivery of a general release in form and substance as shall be reasonably requested by the Company. The Company shall also
execute a similar release in favor of the Executive.

    	 

    	 

    
5.7        Delayed Payments; Reimbursement of Costs and Expenses. (a) Any amount payable under
this Employment Agreement prior to the first date on which such payment is permitted under Section 409A of the Internal Revenue
Code of 1986, as amended, shall instead be paid at the earliest date on which such payment may be made in compliance with Section
409A.

 (b)        With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted
by Section 409A of the Internal Revenue Code of 1986, as amended, (i) the right to reimbursement or in-kind benefits shall not
be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind
benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be
provided, not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Internal Revenue
Code of 1986, as amended, solely because such expenses are subject to a limit related to the period the arrangement is in effect,
and (iii) such payments shall be made on or before the last day of Executive’s taxable year following the taxable year in
which the expense was incurred.

Section
6.           Disability.

6.1        Total Disability. In the event that after the Executive has failed to have performed
his regular and customary duties for a period of 90 consecutive days or for any 180 days out of any 360-day period and before
the Executive has become Rehabilitated (as defined below), a majority of the members of the Board of Directors of the Company
(exclusive of the Executive if the Executive shall then be a director) may vote to determine that the Executive is mentally or
physically incapable or unable to continue to perform such regular and customary duties of employment and upon the date of written
notice to the Executive by certified mail, return receipt requested, of such majority vote, the Executive shall be deemed to be
suffering from a “Total Disability.” As used herein, the term “Rehabilitated” shall mean
such time as the Executive is able and willing to return to full-time employment and commences to devote his time and energies
to the duties of his position and the affairs of the Company to a reasonable extent and in a similar manner that he did prior
to the disability.

6.2        Payment during Disability. In the event that the Executive is unable to perform his
duties hereunder by reason of a disability, prior to the time such disability is deemed a Total Disability in accordance with
the provisions of Section 6.1 above, the Company shall continue to pay the Executive his Base Salary and benefits pursuant to
this Employment Agreement during the continuance of any such disability. Upon a determination of Total Disability pursuant to
the provisions of Section 6.1 above, the Company shall pay to the Executive his Base Salary pursuant to this Employment Agreement
for the 12-month period immediately subsequent to the date of determination of Total Disability.

    	 

    	 

    
Section
7.          Disclosure of Confidential Information.
The Executive recognizes that he will have access to secret and confidential information
regarding the Company including, but not limited to, its customer lists, products, know-how and business plans. The Executive
acknowledges that such information is of great value to the Company, is the sole property of the Company and has been and will
be acquired by him in confidence. In consideration of the obligations undertaken by the Company herein, the Executive agrees to
hold all such information in strict confidence and will not, at any time, during his employment with the Company and thereafter,
reveal, divulge or make known to any person, any information concerning the Company acquired by the Executive during the course
of his employment that is treated as confidential by the Company; provided, that such information is not otherwise in the
public domain or information that the Executive could have and did learn separate and apart from his duties set forth herein.

 

Section
8.           Covenant Not to Compete.

8.1        Covenant Not to Compete. The Executive recognizes that the services to be performed
by him hereunder are special, unique and extraordinary. The parties acknowledge and agree that it is reasonably necessary for
the protection of the Company that the Executive agree and, accordingly, the Executive does hereby agree that, except as provided
in Section 8.4, the Executive shall not, directly or indirectly, at any time during the Restricted Period (as defined below) within
the Restricted Area (as defined below), engage in any Competitive Business (as defined below), either on his own behalf or as
an officer, director, stockholder, partner, principal, trustee, investor, consultant, associate, employee, owner, agent, creditor.
independent contractor, co-venturer of any third party or in any other relationship or capacity.

8.2        Applicable Definitions. For purposes of this Employment Agreement, (i) “Restricted
Period” shall mean (A) in the event of a termination of the Executive’s employment by the Company for Cause or
by the resignation of the Executive without Good Reason, the period of the Executive’s actual employment hereunder plus
6 months after the date the Executive is no longer employed by the Company and (B) in the event of a termination of the Executive’s
employment by the Company due to the Executive’s Total Disability or without Cause (including termination resulting from
a Change of Control) or by the resignation of the Executive for Good Reason, the period of the Executive’s actual employment
hereunder; (ii) “Restricted Area” shall mean anywhere in the United States; and (iii) “Competitive
Business” shall mean the design, manufacture, sale, marketing or distribution of (A) branded or designer footwear, apparel,
accessories and other products in the categories of products sold by, or under license from, the Company or any of its affiliates
and (B) other branded products related to fashion or lifestyle.

8.3        Covenant Not to Solicit. The Executive hereby agrees that the Executive will not,
directly or indirectly, for or on behalf of himself or any third party, at any time during the Restricted Period (i) solicit any
customers of the Company or (ii) solicit, employ or engage, or cause, encourage or authorize, directly or indirectly, to be employed
or engaged, for or on behalf of himself or any third party, any employee or agent of the Company or any of its subsidiaries.

8.4        Exception. This Section 8 shall not be construed to prevent the Executive from owning,
directly and indirectly, in the aggregate, an amount not exceeding one percent (1%) of the issued and outstanding voting securities
of any class of any company whose voting capital stock is traded on a national securities exchange or in the over-the-counter
market.

    	 

    	 

    
8.5        Severability. If any of the restrictions contained in this Section 8 shall be deemed
to be unenforceable by reason of the extent, duration or geographical scope thereof, or otherwise, then the court making such
determination shall have the right to reduce such extent, duration, geographical scope, or other provisions hereof, and in its
reduced form this Section 8 shall then be enforceable in the manner contemplated hereby.

8.6        Survival. The provisions of this Section 8 shall survive the termination of the Executive’s
employment as provided hereunder.

Section
9.           Injunctive Relief; Remedies.

9.1        Injunctive Relief. The Executive acknowledges and agrees that, in the event that the
Executive shall violate or threaten to violate any of the restrictions of Sections 7 or 8 hereof, the Company will be without
an adequate remedy at law and, therefore, shall have the right to seek monetary damages for any past breach and equitable relief
including specific performance and temporary or permanent injunctive or mandatory relief against the Executive and/or any and
all persons acting directly or indirectly or under the direction of the Executive to prevent or restrain any such breach in any
court of competent jurisdiction without the necessity of proving damages or posting any bond or other security, and without prejudice
to any other remedies that the Company may have at law or in equity.

9.2        Additional Rights and Remedies. The Executive further agrees that the Company shall
have the following additional rights and remedies:

 (a)        to recover all monies and other consideration derived or received by the Executive as the
result of any transactions constituting a breach of any of the provisions of Section 10.1, which the Executive hereby agrees to
account for and pay over to the Company; and

 (b)        to recover reasonable attorneys’ fees incurred in any action or proceeding in which
it seeks to enforce its rights under Sections 7 or 8.

Each
of the rights and remedies enumerated above shall be independent of the other, and shall be severally enforceable, and all of
such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under
law or in equity.

Section
10.        No Restrictions.
The Executive hereby represents that neither the execution of this Employment Agreement nor his performance hereunder will (i)
violate, conflict with or result in a breach of any provision of, or constitute a default (or an event which, with notice or lapse
of time or both, would constitute a default) under the terms, conditions or provisions of any contract, Employment Agreement or
other instrument or obligation to which the Executive is a party, or by which he may be bound, or (ii) violate any order, judgment,
writ, injunction or decree applicable to the Executive. In the event of a breach hereof, in addition to the Company’s right
to terminate this Employment Agreement, the Executive shall indemnify the Company and hold it harmless from and against any and
all claims, losses, liabilities, costs and expenses (including reasonable attorneys’ fees) incurred or suffered in connection
with or as a result of the Company’s entering into this Employment Agreement or employing the Executive hereunder.

    	 

    	 

    
Section
11.           Arbitration.

11.1        Matters Subject to Arbitration. Except with regard to any other matters that are not
a proper subject of arbitration, all disputes between the parties hereto concerning the performance, breach, construction or interpretation
of this Employment Agreement or any portion thereof, or in any manner arising out of this Employment Agreement or the performance
thereof, shall be submitted to binding arbitration, in accordance with the rules of the American Arbitration
Association. The arbitration proceeding shall take place at a mutually agreeable location in New York County, New York or such
other location as agreed to by the parties.

11.2        Award Binding. The award rendered by the arbitrator shall be final, binding and conclusive,
shall be specifically enforceable, and judgment may be entered upon it in accordance with applicable law in the appropriate court
in the State of New York, with no right of appeal therefrom.

11.3        Expenses of Arbitration. Each party shall pay its or his own expenses of arbitration,
and the expenses of the arbitrator and the arbitration proceeding shall be equally shared.

Section
12.           General Provisions.

12.1        Assignment.This Employment Agreement, as it relates to the employment of the Executive,
is a personal contract and neither this Employment Agreement nor any right or interest may be assigned by the Executive without
the prior written consent of the Company.

12.2        Entire Employment Agreement. This Employment Agreement constitutes and embodies the
full and complete understanding and Employment Agreement of the parties with respect to the Executive’s employment by the
Company superseding all prior understanding and Employment Agreements, whether oral or written, between the Executive and the
Company.

12.3        Amendments. This Employment Agreement shall not be amended, modified or changed except
by an instrument in writing executed by the party to be charged. The invalidity of one or more provisions of this Employment Agreement
shall not invalidate any other provision of this Employment Agreement.

12.4        Binding Effect. This Employment Agreement shall inure to the benefit of, be binding
upon and enforceable against, the parties hereto and their respective successors, heirs, beneficiaries and permitted assigns.

12.5        Headings. The headings and captions under sections and paragraphs of this Employment
Agreement are for convenience of reference only and do not in any way modify, interpret or construe the intent of the parties
or affect any of the provisions of this Employment Agreement.

    	 

    	 

    
12.6        Notices. All notices, requests, demands and other communications required or permitted
to be given hereunder shall be in writing and shall be deemed to have been duly given when delivered by hand or sent by certified
or registered mail, return receipt requested and postage prepaid, overnight mail or courier or telecopier, addressed, if to the
Company, to the Company’s principal offices, Attn: Chief Executive Officer, and if to the Executive, at the address of the
Executive’s personal residence as maintained in the Company’s records, or at such other address as any party shall
designate by notice to the other party given in accordance with this Section 12.6.

12.7        Governing Law. This Employment Agreement shall be governed by and construed in accordance
with the laws of the State of New York without giving effect to such State’s conflicts of laws provisions and each of the
parties hereto irrevocably consents to the jurisdiction and venue of the federal and state courts located in the State of New
York, County of New York.

12.8        Counterparts. This Employment Agreement may be executed in two or more counterparts,
each of which shall be deemed and original, but all of which taken together shall constitute one of the same instrument.

12.9        Waiver of Breach; Partial Invalidity. The waiver by either party of a breach of any
provision of this Employment Agreement shall not operate or be construed as a waiver of any subsequent breach. If any provision,
or part thereof, of this Employment Agreement shall be held to be invalid or unenforceable, such invalidity or unenforceability
shall attach only to such provision and not in any way affect or render invalid or unenforceable any other provisions of this
Employment Agreement, and this Employment Agreement shall be carried out as if such invalid or unenforceable provision, or part
thereof, had been reformed, and any court of competent jurisdiction or arbitrators, as the case may be, are authorized to so reform
such invalid or unenforceable provision, or part thereof, so that it would be valid, legal and enforceable to the fullest extent
permitted by applicable law.

12.10      Facsimile or Electronic Mail Signatures. Signatures hereon which are transmitted via
facsimile or electronic mail shall be deemed original signatures.

12.11      Representation by Counsel; Interpretation. The Executive acknowledges that the Executive
has been represented by counsel, or has been afforded the opportunity to be represented by counsel, in connection with this Employment
Agreement. Accordingly, any rule or law or any legal decision that would require the interpretation of any claimed ambiguities
in this Employment Agreement against the party that drafted it has no application and is expressly waived by the Executive. The
provisions of this Employment Agreement shall be interpreted in a reasonable manner to give effect to the intent of the parties
hereto.

12.12      Construction. Whenever the word “including” or any variant thereof is
used herein, it shall mean “including, without limitation.”

[Signature
page follows]

    	 

    	 

    
IN
WITNESS WHEREOF, the parties hereto have executed this Employment Agreement as of the date first set forth above.

	 	 	 
	 	STEVEN MADDEN, LTD.
	 	 	 
	 	By	/s/
    Edward R. Rosenfeld
	 	 	Name: Edward R. Rosenfeld
	 	 	Title: Chief Executive Officer
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	/s/
    Awadhesh Sinha
	 	Awadhesh SinhaEnertopia Corporation: Exhibit 10.1 - Filed by newsfilecorp.com

THIS JOINT VENTURE AGREEMENT
made the 16th day of January, 2014. 

BETWEEN: 

	 	ENERTOPIA CORPORATION, a
      corporation duly incorporated 
	 	under the laws of the State of Nevada with its
      executive office at 
	 	950-1130 West Pender Street, Vancouver, British
      Columbia, 
	 	Canada. 
	 	  
	 	("Enertopia") 

AND: 

	 	WORLD OF MARIHUANA PRODUCTIONS
      LTD., a 
	 	corporation duly incorporated under the laws of
      the Province of 
	 	British Columbia with the Registered and
      Records office located at 
	 	#1-2838 Garden Street, Abbotsford, British
      Columbia, V2T 4W7. 
	 	  
	 	("WOM") 
	 	  
	 	(collectively called the "Parties")
  

WHEREAS: 

A. WOM has or will acquire a licence issued by Health Canada
(the "Licence") to allow for WOM to operate a business of legally producing,
manufacturing, propagating, importing/exporting, testing, researching and
developing, and selling marihuana (the “Business”) which shall be located at
33420 Cardinal Street, Mission, British Columbia (the "Premises"). 

B. The Parties have entered into a non-binding Letter Of Intent
dated for reference the 1st day of November, 2013 (the "LOI") which
shall be superseded by this Agreement. 

C. The Parties wish to enter into this Agreement to set out the
terms and conditions on which Enertopia may acquire an interest in the Business
and the terms and conditions on which the Parties will form a joint venture to
jointly participate in the Business (the "Joint Venture"). 

     NOW THEREFORE THIS AGREEMENT
WITNESSETH that in consideration of the premises and the mutual covenants
and agreements hereinafter set forth, the parties hereto agree each with the
other as follows: 

1. DEFINITIONS AND
SCHEDULES 

1.01 In this Agreement, unless the context otherwise requires,
the following terms will have the following meanings: 

"Joint Venture Assets" means those assets listed
in Schedule "A" hereto and any future assets purchased by or on behalf of the
Business and all other property, whether real or personal, which is owned,
leased, held, developed, constructed or acquired for the Business by or on
behalf of the Parties. 

"Interest" means all the right, title and interest of a
Party in and to the Joint Venture, the Joint Venture Assets, any Joint Venture
Loan and accrued interest thereon and the Party's interest in and to this
Agreement. 

"Joint Venture Loan" means any and all loans,
debts, obligations incurred by the Parties to operate the Business in accordance
with Section 3.03 hereof. 

"Effective Date" means the first business day following
the day on which WOM has received the final and duly issued Licence from Health
Canada and has notified Enertopia of such receipt. 

"Net Profits" means income available for distribution to
the Parties after deducting all expenses incurred by the Business. . 

"Parties" means the parties to this Agreement and their
respective successors and permitted assigns which become parties pursuant to
this Agreement. 

1.02 The following are Schedules to this Agreement: 

Schedule "A" – Assets of WOM 

Schedule "B" – Estimated Net
Profits Calculation for the 12 months from the Execution Date 

2. INITIAL CONTRIBUTIONS &
INTERESTS 

2.01 The Parties contribute the following as their initial
contributions to the Business: 

	 	(a) 	
      WOM, as its initial Contribution, hereby contributes all
      of its interest and title in the Assets set forth in Schedule "A"
      hereto.

	 	 	 
	 	(b) 	
      Enertopia, as its initial contribution, hereby
      contributes the payments set forth in Section 5.01 (i), (ii) and (iii)
      hereof.

2.02 Upon occurrence of the Effective
Date, the Parties shall have the following initial Interests: 

	WOM 	- 	70% 
	Enertopia 	- 	30% 

2.02 Except as otherwise provided herein, the Parties shall
bear the cost and all liabilities arising under this Agreement and shall,
pursuant to their respective shares, own the Business all in proportion to their
respective Interests. 

2.03 Unless this Agreement otherwise provides, all revenues and
benefits derived from the Business shall be received by the Parties in the ratio
of their Interests, and all obligations and liabilities incurred in respect of,
the Business shall be received or borne by the Parties in accordance with the
terms of this Agreement. 

3. REPRESENTATIONS, WARRANTIES AND
COVENANTS 

3.01 Each Party represents and warrants to the other as
follows: 

	 	(a) 	
      It is duly incorporated and is in good standing as to the
      filing of annual returns under the laws of the jurisdiction of its
      incorporation.

	 	 	 
	 	(b) 	
      It has the corporate or other power to enter into this
      Agreement.

	 	 	 
	 	(c) 	
      All necessary and requisite corporate proceedings,
      resolutions and authorizations have been or will be taken, passed, done
      and given to authorize, permit and enable it to execute and deliver this
      Agreement.

	 	 	 
	 	(d) 	
      The entering into of this Agreement will not be in
      contravention or constitute default under the laws of the incorporation
      jurisdiction of the Party or any indenture, deed, agreement, undertaking
      or obligation of the Party or to which it is a party.

	 	 	 
	 	(e) 	
      There are no actions or proceedings pending or, to its
      knowledge threatened which challenge the validity of this Agreement or
      which might result in a material adverse change in the financial condition
      of any Party or which would materially adversely affect its ability to
      perform its obligations under this Agreement or any other document in
      connection with them.

	 	 	 
	 	(f) 	
      This Agreement is a valid, binding and enforceable
      obligation of each of the Parties in accordance with its
  terms.

3.02 WOM hereby further represents, warrants and covenants to
Enertopia that it is the sole owner of the Premises and that it will make the
Premises available for the operation of the Business at all times during the
term of this Agreement.

4. MANAGEMENT 

4.01 Unless otherwise provided herein, the operation of the
Business shall be governed by the decision of the Parties owning more than 50%
of the Business. 

5. FINANCING/PARTIES'
CONTRIBUTIONS/DISTRIBUTION OF NET PROFITS 

5.01 Enertopia shall purchase it's Interest in the Business as
set out below, provided that all cash payments are payable directly to WOM by
way of wire transfer: 

	 	i) 	
      10,000,000 shares of the restricted common stock of
      Enertopia (the "Shares") to 0984329 B.C. Ltd ("098") at the direction of
      WOM at the time of execution of the LOI (the "LOI Shares")
    (Completed);

	 	 	 
	 	ii) 	
      Issuance of 5,000,000 Shares to 098 and payment of
      $100,000.00 USD to WOM upon signing of this Agreement (the "Execution
      Date") which Shares will be held in escrow (the "Escrow Shares") by
      Enertopia's solicitors until such time as the Effective Date has occurred.
      Upon occurrence of the Effective Date, the Escrow Shares will be released
      from escrow;

	 	 	 
	 	iii) 	
      Payment to WOM of $75,000.00 USD by January 31, 2014 in
      exchange for which Enertopia will be granted a 30% Interest in the
      Business;

	 	 	 
	 	iv) 	
      Issue 1,000,000 Shares to 098 and pay $200,000.00 USD to
      WOM on or before the date that is six months from the Execution Date in
      exchange for which Enertopia shall be granted a further 1% Interest in the
      Business;

	 	 	 
	 	v) 	
      Issue 1,000,000 Shares to 098 and pay $200,000.00 USD to
      WOM on or before the one year anniversary of the Execution Date in
      exchange for which Enertopia shall be granted a further 2% Interest in the
      Business;

	 	 	 
	 	vi) 	
      Issue 1,000,000 Shares to 098 and $200,000.00 USD to WOM
      on or before the second year anniversary of the Execution Date in exchange
      for which Enertopia shall be granted a further 6% Interest in the
      Business;

	 	 	 
	 	vii) 	
      Issue 1,000,000 Shares to 098 and $300,000.00 USD to WOM
      on or before the third year anniversary of the Execution Date in exchange
      for which Enertopia shall be granted a further 6% Interest in the
      Business;

	 	viii) 	
      Issue 1,000,000 Shares to 098 and $300,000.00 USD to WOM
      on or before the fourth year anniversary of the ExecutionDate in exchange
      for which Enertopia shall be granted a further 6% interest in the Business
      for a total of 51% Interest to be held by Enertopia at such
time;

	 	 	 
	 	ix) 	
      Following the Effective Date and subject to any required
      stock exchange approvals, Enertopia shall appoint Mathew Chadwick, the
      current sole director of WOM (the "Appointee"), to the board of directors
      of Enertopia. The Appointee will hold office until the next annual meeting
      of the shareholders of Enertopia unless his office is earlier vacated in
      accordance with applicable corporate law. Enertopia shall include the
      Appointee as one of the management nominees put forth by Enertopia at each
      shareholder meeting at which the election of directors is an item of
      business, provided however, that the Appointee shall only be entitled to
      serve as a director of Enertopia as long as this Agreement is in good
      standing, full force and effect;

	 	 	 
	 	x) 	
      WOM shall not, at any time following the Effective Date
      and during the course this Agreement remains in effect, issue, split,
      reverse split, hypothecate or otherwise transact any of its share capital,
      under any circumstance, without the prior written consent of Enertopia;
      and

	 	 	 
	 	xi) 	
      WOM shall use the first $375,000.00 paid by Enertopia
      pursuant to Section 5.01 ii), iii) and iv) hereof to upgrade the Business
      as may be required pursuant to Health Canada stipulations or as my
      otherwise required to advance the Business.

5.02 In the event the Effective Date does not occur within
twelve (12) months from the Execution Date, WOM will be entitled to retain the
cash payment paid to it pursuant to Section 5.01 ii) and iii) but will be
required to return all Shares issued to it by Enertopia other than 5,000,000 of
the LOI Shares. 

5.03 Funds required from time to time by the Parties to operate
the Business will be obtained, to the greatest extent possible, by borrowing
from a chartered bank or other institutional lender. If a Party wishes to obtain
a Joint Venture Loan, they shall first provide the other Party with particulars
of the terms of any such proposed Joint Venture Loan including the amount of any
commitment or other loan fees, the security required by the lender and other
terms and conditions, and shall not finalize any such Joint Venture Loan without
the prior written approval of the other Party, such approval not to be
unreasonably delayed or withheld.

5.04 Any Joint Venture Loan entered into in accordance with
Section 5.03 hereof shall be borne by the Parties hereto pro rata in proportion to their
Interest at the time of demand for payment by such bank or institution and if
any of the Parties discharge any liabilities of the Parties either directly or
pursuant to such guarantee given hereunder then the Party discharging the
liabilities shall have the right to be reimbursed by the Party or Parties not so
contributing so that in the end result each of the Parties shall have
contributed in proportion as aforesaid. 

5.05 Commencing on the Effective Date, the Net Profits shall be
distributed to each of the Parties in proportion to their respective Interests
on a quarterly basis.. The Parties agree to the estimated Net Profit calculation
for the 12 months following the Execution Date set forth in Schedule "B"
hereto.

5.06 If funds are required for the operation of the Business,
or other expenses related to the Business, then the Parties agree to advance
such funds in accordance with their Interest (the "Contribution"), upon the
demand of either Party. 

5.07 If either Party (the "Defaulter") fails to provide his or
her Contribution within 10 business days from the date required by the other
Party (the "Deficiency"), then the Party who has paid its Contribution may give
written notice to the Defaulter to pay its Deficiency. If such Defaulter does
not pay its Deficiency within 45 days of such notice, that Party making its own
Contribution as required (the "Contributor") will not be required to but may pay
all or any part of the Deficiency on behalf of the Defaulter. If the Contributor
pays all or any part of the Deficiency on behalf of the Defaulter: 

	 	(a) 	
      The total amount advanced by the Contributor on behalf of
      the Defaulter will be aggregated from time to time and interest will
      accrue on the same from the date or dates of such contribution at a rate
      of interest equal to that charged by the Royal Bank of Canada’s prime rate
      plus three percent. Such total amount and all interest accrued and unpaid
      thereon from time to time will be herein called the "Deficiency
      Contribution";

	 	 	 
	 	(b) 	Any Deficiency Contribution will be Payable by the
      Defaulter to the Contributor on demand by the Contributor.

5.08 Each Party agrees to indemnify and save harmless the other
from and against any loss, costs or damages it may suffer as a result of its
failure to pay for its Interest of the amounts due and owing under the Business.

6. RESTRICTIONS ON TRANSFER/RIGHT OF FIRST
REFUSAL 

6.01 Except as otherwise expressly permitted in this Agreement:

	 	(a) 	no Party shall, at any time during the course
      of this Agreement, sell, transfer or otherwise dispose of or offer to sell, transfer or otherwise
dispose of any of its Interest unless that Party (the "Offeror") first offers by
notice in writing (the "Offer") to the other Parties (the "Others") pro rata in
accordance with their Interest the prior right to purchase, receive or otherwise
acquire the same; 

	 	(b) 	
      the Offer shall set forth:

	 	 	 	 
	 		(i) 	
      the Interest offered for sale;

	 	 	 	 
	 		(ii) 	
      the consideration therefor expressed only in lawful money
      of Canada;

	 	 	 	 
	 		(iii) 	
      the terms and conditions of the sale; and

	 	 	 	 
	 		(iv) 	
      that the Offer is open for acceptance for a period of
      sixty days after receipt of such Offer by the
Others;

	 	(c) 	
      any of the Others may accept such Offer and by such
      acceptance specify any additional portion of the Interest offered for sale
      that such Party is prepared to purchase in the event that any of the
      Others fail to accept such Offer and, if any of the Others fail to accept
      such Offer, such Party (pro rata if more than one) shall be entitled to
      purchase such additional portion of the Interest as shall be so
      available;

	 	 	 
	 	(d) 	
      if, and to the extent the Offer is not accepted, the
      Offeror may sell, transfer or otherwise dispose of his remaining Interest
      to any other person, firm or corporation (the "Third Party") only for the
      consideration and upon the terms and conditions as set out in the Offer
      but only within the period of ninety days after the expiry of the period
      for acceptance by the Others and, if the Offeror does not do so, the
      provisions of this Section 6.0l will again become applicable to the sale,
      transfer or other disposition of his Interest and so on from time to
      time;

	 	 	 
	 	(e) 	
      no disposition of any Interest in the Business permitted
      by this Section 6.01 shall be made unless the Third Party shall have
      entered into an agreement with the Others by which the Third Party shall
      be bound by and entitled to the benefit of the provisions of this
      Agreement and other Others shall enter into such an agreement;
  and

	 	 	 
	 	(f) 	
      any Party who shall have disposed of all of their
      Interest in compliance with the provisions of this Agreement shall be
      entitled to the benefit of and be bound by only the rights and obligations
      which arose pursuant to this Agreement prior to such
  disposition.

6.02 Except as specifically provided herein, no Party shall
mortgage, pledge, charge, hypothecate or otherwise encumber their Interest or
any part thereof without the prior written consent thereto of the other Parties,
which consent may be arbitrarily withheld. 

6.03 Notwithstanding any other provision of this Agreement, no
Party shall be entitled to sell, transfer or otherwise dispose of any of their
Interest or any part thereof without first obtaining the consent of the other
Parties, if such action would permit any other party to accelerate or demand the
payment of any Joint Venture Loan. 

7. DEFAULT 

7.01 It is an event of default (a "Default") if a Party (the
"Defaulting Party", the other Parties being the "Non-Defaulting Parties"): 

	 	(a) 	
      fails to observe, perform or carry out any of his
      obligations hereunder and such failure continues for 30 days after any of
      the Non-Defaulting Parties have, in writing, demanded that such failure be
      cured;

	 	 	 
	 	(b) 	
      fails to take reasonable actions to prevent or defend
      assiduously any action or proceeding in relation to any of their Interest
      for seizure, execution or attachment or which
claims:

	 	(i) 	
      possession;

	 	 	 
	 	(ii) 	
      sale;

	 	 	 
	 	(iii) 	
      the appointment of a receiver or receiver-manager of its
      assets; or

	 	 	 
	 	(iv) 	
      forfeiture or termination;

	 		
      of or against any of the Interest of the Defaulting
      Party, and such failure continues for 30 days after a Non-Defaulting Party
      has, in writing, demanded that the same be taken or the Defaulting Party
      fails to defend successfully any such action or proceeding;

	 	 	 
	 	(c) 	
      becomes bankrupt or commits an act of bankruptcy or if a
      receiver or receiver- manager of his assets is appointed or makes an
      assignment for the benefit of creditors or otherwise;

	 	 	 
	 	(d) 	
      fails after fourteen days' notice in writing to the other
      to resolve by agreement a course of conduct requiring approval of the
      Parties in accordance with Section 8.01
hereof.

7.02 In the event of a Default, the Non-Defaulting Parties may
do any one or more of the following: 

	 	(a) 	
      pursue any remedy available to them in law or in equity,
      it being acknowledged by each of the Parties that specific performance,
      injunctive relief (mandatory or otherwise) or other equitable relief may
      be the only adequate remedy for a Default;

	 	 	 
	 	(b) 	
      take all actions in their own names or in the name of the
      Defaulting Party or the Parties as may reasonably be required to cure the
      Default, in which event all payments, costs and expenses incurred therefor
      shall be payable by the Defaulting Party to the Non-Defaulting Parties on
      demand with interest at the Royal Bank of Canada prime commercial rate of
      interest for its most creditworthy customers plus 6% per annum;

	 	 	 
	 	(c) 	
      implement the buy-sell procedure as set out in Section
      8.01 hereof;

	 	 	 
	 	(d) 	
      waive the Default provided, however, that any waiver of a
      particular Default shall not operate as a waiver of any subsequent or
      continuing Default.

8. BUY-SELL PROCEDURE 

8.01 If any of the Parties are desirous of purchasing the
Interest of a Defaulting Party as defined in Section 7.02 hereof, the
transaction shall be initiated and completed in the following manner. The said
party (hereinafter referred to as the "Offeror") shall give to the other party
(hereinafter referred to as the "Offeree") notice in writing which shall contain
the following terms and provisions: 

	 	(a) 	
      the price for the Interest to be sold;

	 	 	 
	 	(b) 	
      an offer to buy all of the Interest owned by the Offeree
      at a fixed price determined solely by the Offeror;

	 	 	 
	 	(c) 	
      an offer to sell all of the Interest owned by the Offeror
      to the Offeree at a fixed price determined solely by the
Offeror;

	 	 	 
	 	(d) 	
      payment of an amount equal to the total purchase price in
      cash or by certified cheque on closing.

8.02 Upon receipt of the notice, the Offeree may, within a
period of 30 days thereafter, accept either one of the offers contained in the
notice and shall given written notification to the Offeror accepting either the
Offeror's offer to purchase or the Offeror's offer to sell as contained in the
notice. 

8.03 The individual parties hereto agree that failure to accept
within the time limited as aforesaid shall be for all intents and purposes be
deemed to have been a rejection of the Offeror's offer to purchase in the same
manner as if the Offeree had, in fact, rejected such offer to purchase by notice
in writing. The appropriate offer in accordance with the foregoing and
acceptance thereof by either notice in writing or the failure of the Offeree to
accept the same shall be deemed to constitute a binding agreement of purchase
and sale as set out in the Offeror's notice and in the terms and provisions of
this Agreement. The transaction or transactions of purchase and sale arising
from the foregoing shall be completed within sixty days after acceptance. 

8.04 In the event of a sale of an Interest in the said Business
as herein provided for, the party selling shall in this Section be referred to
as the "Seller" and the party purchasing shall in this Section be referred to as
the "Purchaser", and the following additional provisions shall apply: 

	 	(a) 	
      the date scheduled for closing (the "Closing") may be at
      any earlier date agreed to and fixed by the individual parties
    hereto;

	 	 	 
	 	(b) 	
      any amount payable under the agreement of purchase and
      sale or other agreed transaction shall be paid by way of cash or by way of
      certified cheque;

	 	 	 
	 	(c) 	
      if, upon the date set for Closing, the Parties shall be
      indebted to the Seller in an amount recorded on the books of the Parties
      and verified by the auditors/accountants of the Parties, such indebtedness
      shall be paid to the Seller by the Parties at the time of
  Closing;

	 	 	 
	 	(d) 	
      if, upon the date set for Closing, the Seller shall be
      indebted to the Parties in an amount so recorded and verified, the
      Purchaser shall be entitled under the purchase price to pay, satisfy and
      discharge all or any portion of such indebtedness and to receive and to
      take credit against the purchase for the amount or amounts so paid on
      account of such indebtedness;

	 	 	 
	 	(e) 	
      if, on the date of Closing, the Seller is responsible on
      any covenant for the liabilities of Business the Purchaser shall procure
      for the Seller and deliver to him at the time of closing releases from any
      such covenants or guarantees or, failing that, shall indemnify the Seller
      from any claim, action, demand or liability that may arise by reason of
      such covenants or guarantees;

	 	 	 
	 	(f) 	
      if, on the date of Closing, the Seller shall have any
      securities lodged with any person, including the Parties' bankers, to
      secure any indebtedness of the Parties, then the Purchaser shall deliver
      the same free and clear of any claims in connection with such indebtedness
      to the Seller. In the event the Purchaser is unable to deliver the same,
      then the Purchaser shall execute all such documents as may be reasonably
      required in order to indemnify and save harmless the Seller in relation
      thereto;

	 	(g) 	
      if, on the date of Closing, the Seller shall, for any
      reason, fail or refuse to complete the transaction, the Purchaser shall
      have the right upon such default without prejudice to any other rights
      which the Purchaser may have, upon payment by the Purchaser of the balance
      due on closing (less or plus any adjustment herein permitted) to the
      credit of the Seller in any chartered bank in the Province of British
      Columbia or the solicitors for the Business on behalf of and in the name
      of the Seller to complete the transaction as aforesaid and the Seller
      hereby irrevocably constitutes the Purchaser the true and lawful attorney
      of the Seller to complete the transaction and to execute any and every
      document necessary in that behalf;

	 	 	 
	 	(k) 	
      between the date of any offer and the date of Closing of
      any ensuing transaction neither the Seller nor the Purchaser shall do or
      cause to be done anything except in the ordinary course of
  business;

	 	 	 
	 	(l) 	
      notwithstanding any term or provision of this Agreement
      to the contrary, once any of the sale provisions hereinbefore referred to
      are invoked or become operative pursuant to the provisions of this
      Agreement, no other offer or notice of sale or intention to sell shall be
      given or accepted until the Closing or termination of the ensuing
      transaction.

9. NO PARTNERSHIP 

9.01 The Parties agree that they are not operating as a
partnership but as a joint venture in the Business only. Neither the
co-ownership of the Business by the parties nor this Agreement will be construed
so as to create a partnership of the parties or make either party in any way
responsible for the debts or losses of the other. This Agreement will not: 

	 	(a) 	
      Limit the parties in carrying on their respective
      separate business;

	 	 	 
	 	(b) 	
      Impose upon either party any fiduciary duty by reason of
      its carrying on its separate business;

	 	 	 
	 	(c) 	
      Constitute the parties as general partners or constitute
      either party the agent of the other;

	 	 	 
	 	(d) 	
      Impose upon either party any liability or obligation
      other than as expressly provided in this Agreement; or

	 	 	 
	 	(e) 	
      Prevent WOM from retail marketing and retail selling of
      marihuana or franchising.

10. FINANCIAL 

10.01 WOM agrees to change its fiscal year-end to August 31 on
or before the Effective Date. 

10.02 Each Party shall be responsible for and pay their
own respective corporate and personal tax and duty obligations, whether in
Canada, the United States, or elsewhere, and each of the Parties shall hold the
other and the Joint Venture harmless and agree to indemnify them for those tax
and duty obligations, as well as and costs of collection, interest, fines,
penalties, or litigation. 

10.03 The books of account of the Business shall be maintained
on an accrual basis in accordance with Generally Accepted Accounting
Principles, consistently applied, and shall show all items of income and
expense, all assets and liabilities and the contribution accounts of the
Parties. 

10.04 WOM shall: 

(a) cause to be prepared and furnished
to Enertopia promptly after the close of each fiscal period a balance sheet of
the Business dated as of the end of the fiscal period, a related statement of
income or loss and a related statement of source and application of funds for
the Business for such fiscal period, all of which shall be certified in the
customary manner by the Auditor, and the same information for the fiscal period
as is required to be included in the periodic reports referred to in (b) below.

(b) upon request by Enertopia from time
to time, provide to Enertopia any information about the business and activities
of the Business necessary for the tax returns of Enertopia or other information
on the business and affairs of the Business as may be reasonably requested by
Enertopia. 

10.05 Any Party shall have the right from time to time at all
reasonable times during usual business hours and without causing a material
disruption of the Business, to audit, examine and make copies of or extracts
from all records relating to the Business. Such right may be exercised through
any agent or employee of such Party designated by it, or by independent
accountants designated by such Party. Such Party shall bear all expenses
incurred in any such audit or examination or for copies or extracts made at such
Party's request. 

11. CONFIDENTIALITY 

11.01 The making of this Agreement and the consummation of the
transactions contemplated in this Agreement will be maintained as strictly
confidential, and subject to the requirement of law and of governmental and
regulatory authorities, none of the Parties will make any disclosure concerning
the terms or conditions of this transaction or any other aspect of their
dealings, including, but not limited to, information relating finances,
customers, technologies, or trade secrets except with the written consent of the
other Parties or as is necessary in order to carry out their respective
contributory duties under the terms of this Agreement. 

11.02 The above restrictions will not apply to any information
that: 

	 	(a) 	is in the public domain through no fault of the
      recipient; 

	 	(b) 	
      is authorized for disclosure by the disclosing
    Party;

	 	 	 
	 	(c) 	
      is received by the recipient from another unrestricted
      source;

	 	 	 
	 	(d) 	
      is independently developed by the recipient; or

	 	 	 
	 	(e) 	
      is lawfully required to be disclosed by a court or other
      judicial proceeding in any jurisdiction.

11.03 The Parties agree that because monetary damages alone
would be insufficient to consummate for a breach of these confidentiality
provisions, any Party may seek any judicial, nonjudicial or extraordinary relief
available in any court with compentent jurisdiction to prevent the breach of
these provisions. This remedy is in addition to any other remedies that may be
available. 

12. GENERAL PROVISIONS 

12.01 This Agreement shall terminate: 

	 	(a) 	
      if either party sells or otherwise disposes of its
      Interest in the Business;

	 	 	 
	 	(b) 	
      The parties, acting together, collectively sell the
      Business after which this Agreement will cease to have any effect or be
      binding upon the parties except in respect of the resolution of the rights
      and obligations of the parties during the period prior to such sale and
      the payment of all monies between the parties arising as a result;
    or

	 	 	 
	 	(b) 	
      if the Parties hereto consent in writing to the
      termination hereof.

12.02 The Parties shall execute such further assurances and
other documents and instruments and do such further and other things as may be
necessary to implement and carry out the intent of this Agreement. 

12.03 The provisions herein constitute the entire agreement
between the Parties and supersedes all previous expectations, understandings,
communications, representations and agreements, whether verbal or written,
between the Parties with respect to the subject matter hereof. 

12.04 If any provision of this Agreement is unenforceable or
invalid for any reason whatever, it shall not affect the enforceability or
validity of the remaining provisions of this Agreement and such provision shall
be severable from the remainder of this Agreement. 

12.05 Any notice required to be given hereunder by any party
shall be deemed to have been well and sufficiently given if mailed by prepaid
registered mail return receipt requested, courier service or by electronic communication, capable of producing a
printed transmission to or delivered at the address of the other party first
written above or at such other address as any of the parties may from time to
time direct in writing, and any such notice shall be deemed to have been
received, if mailedor couriered, forty-eight hours after the time of mailing or
if sent by electronic communication on the date of such communication. If normal
mail service or courier service is interrupted by strike, slow down, force
majeure or other cause, a notice sent by the impaired means of communication
will not be deemed to be received until actually received, and the party sending
the notice shall utilize any other such services which have not been so
interrupted or shall deliver such notice in order to ensure prompt receipt
thereof. 

12.06 Time shall be of the essence hereof. 

12.07 This Agreement shall be governed by and construed in
accordance with the laws in force in the Province of British Columbia from time
to time. 

12.08 Should there be a disagreement or a dispute between the
parties hereto with respect to this Agreement or the interpretation thereof, the
same shall be referred to a single arbitrator pursuant to the Commercial
Arbitration Act of British Columbia and the determination of such arbitrator
shall be final and binding upon the parties hereto. 

12.09 The headings in this Agreement form no part of this
Agreement and shall be deemed to have been inserted for convenience only. 

12.10 Wherever the singular or the masculine is used throughout
this Agreement the same shall be construed as being the plural or the feminine
or the neuter or the body politic or corporate where the context so requires.
The headings immediately preceding each paragraph are inserted for the purpose
of convenience only and are to be excluded from any construction or
interpretation of this Agreement. 

12.11 Each of the parties hereto shall make, do and execute or
cause to be made, done or executed all such further things, acts, documents,
conveyances and assurances as may be necessary or reasonably required to carry
out the intent and purpose of this Agreement fully and effectually. 

12.12 This Agreement shall enure to the benefit of and be
binding upon the Parties and their respective personal representatives,
successors and permitted assigns. 

-Signature Page Follows- 

IN WITNESS WHEREOF the parties have executed this
Agreement as of the day and year first above written. 

ENERTOPIA CORPORATION 
by its authorized signatory

Per: 

______________________________
Authorized Signatory 

WORLD OF MARIHUANA PRODUCTIONS LTD. 
by its
authorized signatory 

Per: 

______________________________
Mathew Chadwick 

SCHEDULE "A" 
List of Assets 

	1. 	Twenty five kilowatt generator    	$30,000.00 
	2. 	99 HID ballasts and all mounting hardware 	$20,295.00 
	3. 	99 Grow Star Shades 	$12,375.00 
	4. 	99 Moguls and hardware 	$742.50 
	5. 	2x200 amp contactor & 200
      amp Panel 	$2,600.00 
	6. 	4x200amp main breaker sub panels 	$7,520.00 
	7. 	2x200amp main panels c/w
      Breakers 	$1,800.00 
	8. 	6x Submersible Pro – line pumps 	$1,200.00 
	9. 	3x Little Giant Pumps 	$450.00 
	10. 	4x50ft Greenline Hose systems 	$360.00 
	11. 	6x 5 ton 60,000 Btu Air
      Conditioners 	$30,000.00 
	12. 	3x 5 ton recon Air Conditioners 	$15,000.00 
	13. 	1 Air Handler Recon spare 	$1,800.00 
	14. 	4x Pro Grade Air Dehumidifiers 	$5,600.00 
	15. 	2x 12000 Btu Dehumidifiers 	$1,800.00 
	16. 	8000 Btu Dehumidifier 	$250.00 
	17. 	Misc Spare Equipment 	$20,000.00  
	18. 	6x Co2 Generators 	$6,000.00 
	19. 	6x Co2 Monitors 	$7,200.00 
	20. 	Any and all assets acquired after the
      coming into effect of this Agreement to which this Schedule “A” is
      attached. 

SCHEDULE "B" 

Estimated Net Profits Calculation for the 12 months from the
Execution Date

     0786521 B.C. Ltd 
Profit &
Loss Statement Projection 

	Income 	  	 
	Sales (Based on 380,000 grams
      @$7.50) 	$2,850,000.00 	 
	 	  	 
	Other Income (Testing For other Accounts)
    	$36000.00 	 
	Total Income 	$2,886,000.00 
	Expenses 	  	 
	Accounting 	$5000.00 	 
	Advertising 	$60,000.00 	 
	Agricultural (Food & Grow Supplies) 	$180,000.00 	 
	Bank Charges 	$6000.00 	 
	Electricity 	$160,000.00 	 
	Gas & Propane 	$18,000.00 	 
	Hire of Equipment 	$12.000.00 	 
	Insurance 	$36,000.00 	 
	Interest 	$15000.00 	 
	Labels & Packaging 	$7200.00 	 
	Licensing & Legal 	$20,000.00 	 
	Miscellanies 	$12,000.00 	 
	Motor Vehicles 	$30,000.00 	 
	Office Supplies 	$6000.00 	 
	Postage & Handling 	$4800.00 	 
	Building Lease 	$42,000.00 	 
	Repairs & Maintenance 	$48,000.00 	 
	Stationary (Shipping) 	$8000.00 	 
	Telephone & Communications (Security) 	$60,000.00 	 
	Training/Seminar 	$40,000.00 	 
	Wages 	$1,100,400.00 	 
	WCB 	$55,000.00 	 
	 	  	 
	Total Expenses 	$1,925,400.00 
	 	  	 
	Net Profit (Loss) 	$960,600.00
    
	________________________________________________________ 	 	 

SCHEDULE "C" 

Distribution of Net Profits 

Net Profits shall mean <>. 
Commencing on the
Effective Date, Net Profits shall be distributed as follows:

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