EX-10.3 8-K · CIK 1754195 · 0001754195-26-000033

EX-10.3

View original filing on SEC EDGAR →  ·  seen Jun 04, 2026, 06:44 EDT

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FILING DETAILS

Filer
Trulieve Cannabis Corp.
Period of report
Jun 03, 2026
Filed
Jun 04, 2026
SEC file no.
000-56248
State of inc.
A1
SIC
2833
Location
TALLAHASSEE, FL

PROTECTION AGREEMENT HARVEST ENTERPRISES HOLDINGS, INC. - and - TRULIEVE CANNABIS CORP. - and - HARVEST ENTERPRISES, LLC. June 2, 2026


TABLE OF CONTENTS 1. DEFINITIONS. ...............................................................................................................................3 2. CONDUCT OF BUSINESS OF THE COMPANY......................................................................8 (a) Conduct ................................................................................................................................8 (b) Restrictions ..........................................................................................................................8 (c) Obligations.........................................................................................................................10 (d) Notices................................................................................................................................10 (e) Updates ..............................................................................................................................11 (f) Director Rights...................................................................................................................11 (g) Access.................................................................................................................................11 (h) Investigations .....................................................................................................................12 (i) Public Announcements.......................................................................................................12 (j) Government Filings ...........................................................................................................12 3. REPRESENTATIONS AND WARRANTIES. ..........................................................................12 4. MISCELLANEOUS. ....................................................................................................................13 (a) Successors and Assigns......................................................................................................14 (b) Governing Law...................................................................................................................14 (c) Counterparts ......................................................................................................................14 (d) Titles and Subtitles .............................................................................................................15 (e) Notices................................................................................................................................15 (f) Amendments and Waivers ..................................................................................................15 (g) Further Assurances ............................................................................................................15 (h) No Third-Party Beneficiaries.............................................................................................15 (i) Publicity .............................................................................................................................15 (j) Severability ........................................................................................................................15 (k) Entire Agreement ...............................................................................................................16 (l) Injunctive Relief .................................................................................................................16 (m) Costs and Expenses............................................................................................................16 (n) Construction.......................................................................................................................16 (o) Waiver of Jury Trial...........................................................................................................16 (p) Exclusive Venue .................................................................................................................17 (q) Acknowledgement ..............................................................................................................17 (r) Control of the Business ......................................................................................................17 (s) Delays or Omissions ..........................................................................................................17


PROTECTION AGREEMENT THIS PROTECTION AGREEMENT made effective the 2nd day of June, 2026. AMONG: Harvest Enterprises, LLC., a limited liability company existing under the laws of the State of Delaware (the “Company”) - and - Trulieve Cannabis Corp., a corporation existing under the laws of the Province of British Columbia (“Trulieve”) - and - Harvest Enterprises Holdings, Inc., a corporation existing under the laws of the State of Delaware (“Harvest”) (together, the “Parties” or individually, the “Party” as the context requires) WHEREAS following an investment by Whitley Holding 05192026, LLC in the Company, Harvest will own Exchangeable Units of the Company (the “Exchangeable Units”), which are convertible into class B units of the Company (the “Class B Units”); AND WHEREAS Harvest is a wholly-owned subsidiary of Trulieve; AND WHEREAS Trulieve and Harvest are seeking assurances from the Company that it will not intentionally erode the value of the Exchangeable Units during the period (the “Interim Period”) commencing on the date hereof until such time as all of the Exchangeable Units held by Harvest are, at the sole discretion of Harvest, converted into Class B Units; AND WHEREAS the Parties have entered into this Agreement to address the concerns raised by Trulieve and Harvest; NOW THEREFORE in consideration of the foregoing premises, which are an integral part hereof, and in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 1. DEFINITIONS. In addition to the terms defined elsewhere in this Agreement, for purposes of this Agreement: (a) “Agreement” means this protection agreement, as the same may be amended, supplemented or restated. (b) “Affiliate” means, with respect to the Person to which it refers, (i) a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with, such Person, (ii) any officer, director, manager, member or shareholder of such Person, (iii) any parent, sibling, descendant or spouse of such Person or of any of the Persons referred to in clauses (i) and (ii), and (iv) any corporation, limited liability company, general or limited partnership, trust, association or other business or investment entity that directly or indirectly, through one or more intermediaries controls, is controlled by or is under common control with any of the foregoing individuals. For purposes of this definition, the term “control” of a Person shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the
















[Signature Page – Protection Agreement] IN WITNESS WHEREOF the Parties have executed this Agreement as of the date first written above. HARVEST ENTERPRISES, LLC Address: By: 308 East Park Avenue Name: Frank Whitley Tallahassee, FL 32301 Title: Manager TRULIEVE CANNABIS CORP. Address: By: 3494 Martin Hurst Road Name: Eric Powers Tallahassee, FL 32312 Title: Secretary HARVEST ENTERPRISES HOLDINGS, INC. Address: By: 3494 Martin Hurst Road Name: Eric Powers Tallahassee, FL 32312 Title: Secretary /s/ Eric Powers /s/ Frank Whitley /s/ Eric Powers


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