Oral Amendment to Employment Agreement between Cronos Group Inc. and Michael Gorenstein

Contract Categories: Human Resources › Employment Agreements
Summary

Cronos Group Inc. and Michael Gorenstein agreed to orally amend Gorenstein's employment agreement. The amendment increases his base salary from USD 200,000 to CAD 520,000, effective June 2019. Additionally, Gorenstein was granted 1,097,791 stock options and an equal number of share appreciation rights, both with an exercise price of CAD 20.65 per share, vesting quarterly over four years.

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EX-10.11 10 a1011.htm EXHIBIT 10.11 Exhibit


Exhibit 10.11

DESCRIPTION OF ORAL AMENDMENT
TO EMPLOYMENT AGREEMENT
Cronos Group Inc., f/k/a Pharmacan Capital Corporation (“Cronos”), and Michael Gorenstein (“Executive”) orally agreed to amend the Employment Agreement between Cronos and Executive dated as of August 10, 2016 (the “Employment Agreement”) to increase the Base Salary (as defined in the Employment Agreement) from USD200,000.00 to CAD520,000.00, effective in June 2019 and Cronos made a grant on May 11, 2019 to Executive of 1,097,791 stock options over shares of Cronos common stock and an equal number of share appreciation rights, each with an exercise price per share of CAD20.65, which vest in equal quarterly installments over four years.


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