EX-10.1



 Exhibit 10.1 
  

 
  

INVESTOR RIGHTS AGREEMENT 

BY AND AMONG 
 CANADA
GOOSE HOLDINGS INC. 
 AND 

CERTAIN SHAREHOLDERS 

DATED AS OF MARCH 6, 2017 
  

 
  







 TABLE OF CONTENTS 

 

							
	 ARTICLE I EFFECTIVENESS
	  	 	1	 
	 Section 1.1.
	 	 Effectiveness
	  	 	1	 
		
	 ARTICLE II DEFINITIONS
	  	 	2	 
	 Section 2.1.
	 	 Definitions
	  	 	2	 
			
	 Section 2.2.
	 	 Other Interpretive Provisions
	  	 	8	 
		
	 ARTICLE III REGISTRATION RIGHTS
	  	 	9	 
	 Section 3.1.
	 	 Demand Registration
	  	 	9	 
			
	 Section 3.2.
	 	 Shelf Registration
	  	 	12	 
			
	 Section 3.3.
	 	 Piggyback Registration
	  	 	15	 
			
	 Section 3.4.
	 	 Lock-Up Agreements
	  	 	17	 
			
	 Section 3.5.
	 	 Registration Procedures
	  	 	17	 
			
	 Section 3.6.
	 	 Underwritten Offerings
	  	 	24	 
			
	 Section 3.7.
	 	 No Inconsistent Agreements; Additional Rights
	  	 	26	 
			
	 Section 3.9.
	 	 Registration Expenses
	  	 	26	 
			
	 Section 3.9.
	 	 Indemnification
	  	 	26	 
			
	 Section 3.10.
	 	 Rules 144 and 144A and Regulation S
	  	 	30	 
			
	 Section 3.11.
	 	 Existing Registration Statements
	  	 	30	 
		
	 ARTICLE IV GOVERNANCE
	  	 	31	 
	 Section 4.1
	 	 Board Nomination Rightsts
	  	 	31	 
			
	 Section 4.2.
	 	 Board Committees
	  	 	33	 
			
	 Section 4.3.
	 	 Expenses
	  	 	34	 
			
	 Section 4.4.
	 	 Written Consent or Resolutions
	  	 	34	 
			
	 Section 4.5.
	 	 Quorum
	  	 	34	 
			
	 Section 4.6.
	 	 Remedies
	  	 	34	 
		
	 ARTICLE V MISCELLANEOUS
	  	 	34	 
	 Section 5.1.
	 	 Authority; Effect
	  	 	34	 
			
	 Section 5.2.
	 	 Notices
	  	 	35	 
			
	 Section 5.3.
	 	 Termination and Effect of Termination
	  	 	36	 
			
	 Section 5.4.
	 	 Permitted Transferees
	  	 	36	 
			
	 Section 5.5.
	 	 Remedies
	  	 	36	 
			
	 Section 5.6.
	 	 Amendments
	  	 	37	 
			
	 Section 5.7.
	 	 Governing Law
	  	 	37	 
			
	 Section 5.8.
	 	 Consent to Jurisdiction
	  	 	37	 
			
	 Section 5.9.
	 	 WAIVER OF JURY TRIAL
	  	 	38	 


  
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	 Section 5.10.
	 	 Merger; Binding Effect, Etc.
	  	 	38	 
			
	 Section 5.11.
	 	 Counterparts
	  	 	38	 
			
	 Section 5.12
	 	 Severability
	  	 	38	 
			
	 Section 5.13.
	 	 No Recourse
	  	 	38	 


  
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 This INVESTOR RIGHTS AGREEMENT (as it may be amended from time to time in accordance with the
terms hereof, the “Agreement”), dated as of March 6, 2017 is made by and among: 
  

	 	i.	Canada Goose Holdings, Inc., a company organized under the laws of British Columbia (the “Company”); 

  

	 	ii.	Brent (BC) Participation S.à r.l., a Luxembourg private limited liability company (société à responsabilité limitée) having its registered office at 4, rue Lou Hemmer, L-1748 Luxembourg, Grand Duchy of Luxembourg and having a share capital of CAD 25,000.-, in the process of registration with the Luxembourg Register of Commerce and Companies (together with its beneficial owners and
its and their Permitted Transferees, the “BCP Investors”); and 

  

	 	iii.	Daniel Reiss, together with DTR LLC, a Delaware Limited Liability Company, and their Permitted Transferees (the “Reiss Investors” and together with the BCP Investors, the
“Investors”). 

 RECITALS 

WHEREAS, the Company is contemplating an underwritten initial public offering of its subordinate voting shares pursuant to an effective
registration statement filed with the Securities and Exchange Commission on Form F-1 in the United States and a prospectus filed with the securities regulatory authorities in each of the provinces and
territories of Canada (the “IPO”); and 
 WHEREAS, the parties believe that it is in the best interests of the Company and the
other parties hereto to set forth their agreements regarding rights as investors in the Company. 
 NOW, THEREFORE, in consideration of the
foregoing and the mutual promises, covenants and agreements of the parties hereto, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

ARTICLE I 

EFFECTIVENESS 

Section 1.1.    Effectiveness. This Agreement shall become effective immediately upon the termination of that
certain Shareholders Agreement dated as of December 9, 2013 among Canada Goose Holdings Inc., and the Shareholders named therein. 







 ARTICLE II 

DEFINITIONS 

Section 2.1.    Definitions. As used in this Agreement, the following terms shall have the following meanings:

 “Adverse Disclosure” means public disclosure of material non-public information
that, in the good faith judgment of the Board: (i) would be required to be made in any Registration Statement filed with the SEC or any Canadian Preliminary Prospectus or Canadian Prospectus filed with any Canadian Securities Authority so that,
in the case of a Registration Statement, such Registration Statement, from and after its effective date, does not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading, or, in the case of a Canadian Preliminary Prospectus or Canadian Prospectus, so that such Canadian Preliminary Prospectus or Canadian Prospectus contain full, true and plain disclosure of all material facts
relating to the securities distributed thereunder and does not contain a misrepresentation; (ii) would not be required to be made at such time but for the filing, effectiveness or continued use of such Registration Statement or the filing of
such Canadian Preliminary Prospectus or Canadian Prospectus; and (iii) the Company has a bona fide business purpose for not disclosing publicly. 

“Affiliate” means, with respect to any specified Person, (a) any Person that directly or indirectly through one or more
intermediaries controls, or is controlled by, or is under common control with, such specified Person or (b) in the event that the specified Person is a natural Person, a Member of the Immediate Family of such Person; provided that the
Company and each of its subsidiaries shall be deemed not to be Affiliates of any Holder. As used in this definition, the term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Agreement” shall have the meaning set forth in the preamble. 

“Articles” means the articles of the Company, as they will be in effect upon completion of the IPO, as amended from time to
time. 
 “Board” means the board of directors of the Company. 

“BCBCA” means the Business Corporations Act (British Columbia). 

“BCP Group Director” means a Director that has been designated by the BCP Group Permitted Holders for election as Nominee or
appointment pursuant to Section 4.1. 
 “BCP Group Permitted Holders” means the Bain Group Permitted Holders, as such
term is defined the Articles. 
 “Bought Deal” means an Underwritten Public Offering made on a “bought deal”
basis in one or more Canadian province or territory pursuant to which an underwriter has committed to purchase securities of the Company in a “bought deal” letter prior to the filing of a prospectus under applicable Canadian Securities
Laws, as permitted by NI 44-101. 

  
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 “Business Day” means any day that is not a Saturday, a Sunday or other day on
which banks are required or authorized by law to be closed in the City of New York or City of Toronto. 
 “Canadian Base Shelf
Prospectus” shall have the meaning set forth in Section 3.2.8(a). 
 “Canadian Preliminary Prospectus” means a
preliminary prospectus in respect of Subordinate Voting Shares or other securities which (unless the context requires otherwise) has been filed with and a receipt or mutual reliance review decision document issued therefor by the applicable Canadian
Securities Authorities, including, without limitation all amendments and all supplements thereto and all documents incorporated or deemed to be incorporated by reference therein. 

“Canadian Prospectus” means a (final) prospectus in respect of Subordinate Voting Shares or other securities which (unless
the context requires otherwise) has been filed with and a receipt or mutual reliance review decision document issued therefor by the applicable Canadian Securities Authorities, including, without limitation all amendments and all supplements thereto
and all documents incorporated or deemed to be incorporated by reference therein, and includes, as applicable, a Canadian Base Shelf Prospectus and a Canadian Shelf Supplement. 

“Canadian Securities Authorities” means any of the British Columbia Securities Commission, Alberta Securities Commission,
Financial and Consumer Affairs Authority of Saskatchewan, Manitoba Securities Commission, Ontario Securities Commission, Autorité des marchés financiers (Québec), Financial and Consumer Services Commission (New Brunswick), Nova
Scotia Securities Commission, Office of the Superintendent of Securities (Prince Edward Island), Office of the Superintendent of Securities (Newfoundland and Labrador), Office of the Superintendent of Securities (Northwest Territories), Office of
the Yukon Superintendent of Securities, Nunavut Securities Office, and any of their successors. 
 “Canadian Securities
Laws” means the securities laws, regulations and rules of each of the provinces and territories of Canada, the forms and disclosure requirements made or promulgated under those laws, regulations or rules, the policy statements, rules,
orders and companion policies of or administered by the Canadian Securities Authorities, and applicable discretionary rulings, blanket orders or orders issued by the Canadian Securities Authorities pursuant to such laws, regulations, rules and
policy statements, all as amended and in effect from time to time. 
 “Canadian Shelf Registration Request” shall have the
meaning set forth in Section 3.2.8(a). 
 “Canadian Shelf Supplement” means shall have the meaning set forth in Section
3.2.8(c). 
 “Charitable Gifting Event” means any Transfer by a holder of Registrable Securities, or any subsequent
Transfer by such Holder’s members, partners or other employees, in connection with a bona fide gift to any Charitable Organization made on the date of, but prior to, the execution of the underwriting agreement entered into in connection with
any Underwritten public offering. 

  
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 “Charitable Organization” means a charitable organization as described by
Section 501(c)(3) of the U.S. Internal Revenue Code of 1986, as in effect from time to time, or a registered charity as defined in subsection 248(1) of the Income Tax Act (Canada), as amended from time to time. 

“Company Indemnitee” shall have the meaning set forth in Section 3.9.5. 

“Demand Notice” shall have the meaning set forth in Section 3.1.3. 

“Demand Registration” shall have the meaning set forth in Section 3.1.1(a). 

“Demand Registration Request” shall have the meaning set forth in Section 3.1.1(a). 

“Demand Canadian Preliminary Prospectus” shall have the meaning set forth in Section 3.1.1(c). 

“Demand Canadian Prospectus” means shall have the meaning set forth in Section 3.1.1(c). 

“Demand Registration Statement” shall have the meaning set forth in Section 3.1.1(c). 

“Demand Suspension” shall have the meaning set forth in Section 3.1.6. 

“Director” means a director on the Board. 

“Director Election Meeting” means any meeting of shareholders of the Company at which Directors are to be elected to the
Board. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto, and any rules
and regulations promulgated thereunder, all as the same shall be in effect from time to time. 
 “FINRA” means the
Financial Industry Regulatory Authority. 
 “Holder” means an Investor that holds Registrable Securities or has a right to
designate one or more Nominee under ARTICLE IV. 
 “Independent Director” means an independent Director, as determined by
the Nominating and Governance Committee in accordance with the rules promulgated by the NYSE, the TSX and applicable law. 

“Investor” shall have the meaning set forth in the preamble. 

“Issuer Free Writing Prospectus” means an issuer free writing prospectus, as defined in Rule 433 under the Securities
Act, relating to an offer of the Registrable Securities. 

  
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 “Loss” shall have the meaning set forth in Section 3.9.1. 

“marketing materials” shall have the meaning set forth in NI 41-101. 

“Member of the Immediate Family” shall have the meaning set forth in the Articles. 

“misrepresentation” shall have the meaning set forth under applicable Canadian Securities Laws. 

“Multiple Voting Shares” means the multiple voting shares of the Company, as contemplated by the Articles. 

“NI 41-101” means National Instrument 41-101
General Prospectus Requirements. 
 “NI 44-101” means National Instrument 44-101 Short Form Prospectus Distributions. 
 “NI
44-102” means National Instrument 44-102 Shelf Distributions. 

“Nominating and Governance Committee” shall mean the Nominating and Governance Committee of the Board. 

“Nominee” means a nominee proposed for election as Director by the Company and included as a nominee in the management
information circular of the Company relating to a Director Election Meeting. 
 “NYSE” means the New York Stock Exchange.

 “Participation Conditions” shall have the meaning set forth in Section 3.2.5(b). 

“Permitted Transferee” means, in each case to the extent such Person agrees to be bound by the terms of this Agreement,
(i) in the case of a BCP Investor, any BCP Group Permitted Holder, and (ii) in the case of a Reiss Investor, any Reiss Group Permitted Holder, provided, however, that any transfer of securities of the Company to a Reiss Group
Permitted Holder which would result in Dani Reiss not having direct or indirect voting control and direction over such securities of the Company following such transfer shall be subject to the prior consent of all of the BCP Investors that are
Holders hereunder at the time of such impending transfer, which consent shall not be unreasonably withheld, conditioned or delayed. 

“Person” means any individual, partnership, corporation, company, association, trust, joint venture, limited liability
company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 

“Piggyback Notice” shall have the meaning set forth in Section 3.3.1. 

“Piggyback Registration” shall have the meaning set forth in Section 3.3.1. 

“Potential Takedown Participant” shall have the meaning set forth in Section 3.2.5(b). 

  
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 “Pro Rata Portion” means, with respect to each Holder requesting that its shares
be registered or sold in an Underwritten Public Offering, a number of such shares equal to the aggregate number of Registrable Securities to be registered or sold (excluding any shares to be registered or sold for the account of the Company)
multiplied by a fraction, the numerator of which is the aggregate number of Registrable Securities held by such Holder, and the denominator of which is the aggregate number of Registrable Securities held by all Holders requesting that their
Registrable Securities be registered or sold. 
 “Public Offering” means the offer and sale of Registrable Securities for
cash pursuant to (i) an effective Registration Statement under the Securities Act (other than a Registration Statement on Form S-4, Form F-4 or Form S-8 or any successor form), (ii) a Canadian Prospectus, (iii) a combination of (i) and (ii) above, or (iv) comparable mechanics under the securities laws of any other jurisdiction. 

“Registrable Securities” means (i) all Subordinate Voting Shares that are not then subject to forfeiture to the Company,
(ii) all Subordinate Voting Shares issuable upon the conversion of Multiple Voting Shares of the Company or upon the exercise, conversion or exchange of any option, warrant or convertible security not then subject to vesting or forfeiture to
the Company and (iii) all Subordinate Voting Shares directly or indirectly issued or then issuable with respect to the securities referred to in clauses (i) or (ii) above by way of a stock dividend or stock split, or in connection with a
combination of shares, recapitalization, merger, consolidation or other reorganization. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (w) (A) a Registration Statement with respect to
the sale of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with such Registration Statement or (B) such securities shall have been qualified for distribution
under applicable Canadian Securities Laws in any province or territory of Canada pursuant to the filing with the applicable Canadian Securities Authorities of a Canadian Prospectus and the issuance of a receipt therefor, and such securities shall
have been disposed of thereunder, (x) such securities shall have been Transferred pursuant to Rule 144, (y) both (A) such holder is able to immediately sell such securities under Rule 144 without any restrictions on transfer (including
without application of paragraphs (c), (d), (e), (f) and (h) of Rule 144), as reasonably determined by the Holder, and (B) the trade of such securities by such holder in Canada would not constitute a “control distribution” as
such term is defined in National Instrument 45-102 Resale of Securities, or (z) such securities shall have ceased to be outstanding. 

“Registration” means a (i) registration under the Securities Act of the offer and sale to the public of any Registrable
Securities under a Registration Statement, (ii) the qualification of any Registrable Securities for distribution under applicable Canadian Securities Laws in any province or territory of Canada by way of a Canadian Prospectus, (iii) a
combination of (i) and (ii) above, or (iv) comparable mechanics under the securities laws of any other jurisdiction. The terms “register”, “registered” and “registering” shall have
correlative meanings. 
 “Registration Expenses” shall have the meaning set forth in Section 3.8. 

“Registration Statement” means any registration statement of the Company filed with, or to be filed with, the SEC under the
Securities Act, including the related U.S. Prospectus, 

  
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amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and all material incorporated by
reference in such registration statement other than a registration statement (and related U.S. Prospectus) filed on Form S-4, Form F-4 or Form S-8 or any successor form thereto. 
 “Reiss Group Director” means a Director that has
been designated by the Reiss Group Permitted Holders for election as Nominee or appointment pursuant to Section 4.1. 
 “Reiss
Group Permitted Holders” means the Reiss Group Permitted Holders, as such term is defined the Articles. 

“Representatives” means, with respect to any Person, any of such Person’s officers, directors, employees, agents,
attorneys, accountants, actuaries, consultants, equity financing partners or financial advisors or other Person associated with, or acting on behalf of, such Person. 

“Rule 144” means Rule 144 under the Securities Act (or any successor rule). 

“SEC” means the Securities and Exchange Commission or any successor agency having jurisdiction under the Securities Act. 

“Securities Act” means the Securities Act of 1933, as amended, and any successor thereto, and any rules and regulations
promulgated thereunder, all as the same shall be in effect from time to time. 
 “Securities Authorities” means the SEC and
the Canadian Securities Authorities or applicable securities authorities of any other jurisdiction. 
 “Shareholder Group”
means each of (a) BCP Group Permitted Holders (collectively as one Shareholder Group) and (b) Reiss Group Permitted Holders (collectively as one Shareholder Group) and “Shareholder Groups” means all of them. 

“Subordinate Voting Shares” means the Subordinate Voting Shares of the Company, as contemplated under the Articles.

 “TSX” means the Toronto Stock Exchange. 

“Transfer” means, with respect to any Registrable Security, any interest therein, or any other securities or equity interests
relating thereto, a direct or indirect transfer, sale, exchange, assignment, pledge, hypothecation or other encumbrance or other disposition thereof, including the grant of an option or other right, whether directly or indirectly, whether
voluntarily, involuntarily, by operation of law, pursuant to judicial process or otherwise. “Transferred” shall have a correlative meaning. 

“Underwritten Public Offering” means an underwritten Public Offering, including any bought deal or block sale to a financial
institution conducted as an underwritten Public Offering. 

  
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 “Underwritten U.S. Shelf Takedown” means an Underwritten Public Offering
pursuant to an effective U.S. Shelf Registration Statement. 
 “U.S. Prospectus” means (i) the prospectus included in
any Registration Statement, all amendments and supplements to such prospectus, including post-effective amendments and supplements, and all other material incorporated by reference in such prospectus, and (ii) any Issuer Free Writing
Prospectus. 
 “U.S. Shelf Period” shall have the meaning set forth in Section 3.2.3. 

“U.S. Shelf Registration” shall have the meaning set forth in Section 3.2.1(a). 

“U.S. Shelf Registration Notice” shall have the meaning set forth in Section 3.2.2. 

“U.S. Shelf Registration Request” shall have the meaning set forth in Section 3.2.1(a). 

“U.S. Shelf Registration Statement” shall have the meaning set forth in Section 3.2.1(a). 

“U.S. Shelf Suspension” shall have the meaning set forth in Section 3.2.4. 

“U.S. Shelf Takedown Notice” shall have the meaning set forth in Section 3.2.5(b). 

“U.S. Shelf Takedown Request” shall have the meaning set forth in Section 3.2.5(a). 

“Voting Shares” means the Multiple Voting Shares and the Subordinate Voting Shares. 

“WKSI” means any Securities Act registrant that is a well-known seasoned issuer as defined in Rule 405 under the Securities
Act at the most recent eligibility determination date specified in paragraph (2) of that definition. 

Section 2.2.    Other Interpretive Provisions. (a) The meanings of defined terms are equally applicable to the
singular and plural forms of the defined terms. 
 (b)    The words “hereof”, “herein”,
“hereunder” and similar words refer to this Agreement as a whole and not to any particular provision of this Agreement; and any subsection and section references are to this Agreement unless otherwise specified. 

(c)    The term “including” is not limiting and means “including without limitation.” 

(d)    The captions and headings of this Agreement are for convenience of reference only and shall not affect the
interpretation of this Agreement. 
 (e)    Whenever the context requires, any pronouns used herein shall include the
corresponding masculine, feminine or neuter forms. 

  
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 ARTICLE III 

REGISTRATION RIGHTS 
 The
Company will perform and comply, and cause each of its subsidiaries to perform and comply, with such of the following provisions as are applicable to it. Each Holder will perform and comply with such of the following provisions as are applicable to
such Holder. 
 Section 3.1.    Demand Registration. 

Section 3.1.1.    Request for Demand Registration. 

 

	 	(a)	At any time (i) following the date of this Agreement, the BCP Investors shall have the right to make a written request from time to time (a “Demand Registration Request”) and (ii) following
the date that a BCP Investor is no longer a Holder, the Reiss Investors shall have the right to make a Demand Registration Request, in each case to the Company for Registration of all or part of the Registrable Securities held by such Holders. Any
such Registration pursuant to a Demand Registration Request shall hereinafter be referred to as a “Demand Registration.” 

  

	 	(b)	Each Demand Registration Request shall specify (x) the aggregate amount of such Holder’s Registrable Securities to be registered, (y) the intended method or methods of disposition thereof and (z) the
jurisdiction(s) in which the Registration is to take place. 

  

	 	(c)	Upon receipt of a Demand Registration Request, the Company shall as promptly as practicable file a Registration Statement (a “Demand Registration Statement”) relating to such Demand Registration, and
use its reasonable best efforts to cause such Demand Registration Statement to be promptly declared effective under the Securities Act, and/or, as may be requested, file with the applicable Canadian Securities Authorities and use its reasonable best
efforts to secure the issuance of a receipt or mutual reliance review decision document for a Canadian Preliminary Prospectus (a “Demand Canadian Preliminary Prospectus”) and a Canadian Prospectus (a “Demand
Canadian Prospectus”) relating to such Demand Registration, including, if necessary or useful, in reliance upon the post-receipt pricing procedures under National Instrument 44-103 Post-Receipt
Pricing. 

 Section 3.1.2.    Limitation on Demand Registrations.
The Company shall not be obligated to take any action to effect any Demand Registration if, within the preceding ninety (90) days (a) a Demand Registration Statement or Piggyback Registration was declared effective or a Demand Canadian
Prospectus was filed, or (b) an Underwritten U.S. Shelf Takedown was consummated. 

Section 3.1.3.    Demand Notice. Other than in connection with a Bought Deal, promptly upon
receipt of a Demand Registration Request pursuant to Section 3.1.1 (but 

  
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in no event more than two (2) Business Days thereafter), the Company shall deliver a written notice (a “Demand Notice”) of any such Demand Registration Request to all other
Holders and the Demand Notice shall offer each such Holder the opportunity to include in the Demand Registration that number of Registrable Securities as each such Holder may request in writing. Subject to Section 3.1.7, the Company shall
include in the Demand Registration all such Registrable Securities with respect to which the Company has received written requests for inclusion therein within three (3) Business Days after the date that the Demand Notice was delivered. In the
event that a Demand Registration is made in connection with a Bought Deal, the notice periods set forth in this Section 3.1.3 shall not be applicable and the Company shall give the other Holders such notice as is practicable under the
circumstances given the speed and urgency with which Bought Deals are currently carried out in common market practice of its rights to participate thereunder and such Holders shall have at least 24 hours to notify the Company and the BCP Investors
that they will participate in the Bought Deal, failing which, the BCP Investors shall be free to pursue the Bought Deal without the participation of such Holders. 

Section 3.1.4.    Demand Withdrawal. The Holders may withdraw all or any portion of their
Registrable Securities included in a Demand Registration from such Demand Registration at any time prior to the effectiveness of the Demand Registration Statement or the filing of the Demand Canadian Prospectus, as applicable. Upon receipt of a
notice to such effect with respect to all of the Registrable Securities included by the Holders in such Demand Registration, the Company shall cease all efforts to pursue or consummate such Demand Registration. 

Section 3.1.5.    Effective Registration. The Company shall (a) use reasonable best
efforts to cause any Demand Registration Statement to become effective and remain effective for not less than one hundred eighty (180) days (or such shorter period as will terminate when all Registrable Securities covered by such Demand
Registration Statement have been sold or withdrawn), or, if such Demand Registration Statement relates to an Underwritten Public Offering, such longer period as in the opinion of counsel for the underwriter or underwriters a U.S. Prospectus is
required by law to be delivered in connection with sales of Registrable Securities by an underwriter or dealer, and (b) from the period beginning on the filing of any Demand Canadian Preliminary Prospectus or Demand Canadian Prospectus until
the completion of the distribution of the Registrable Securities covered by such Demand Canadian Preliminary Prospectus or Demand Canadian Prospectus (or the closing date of the offering of such Registrable Securities thereunder, if later), comply
with section 57 of the Securities Act (Ontario) and the comparable provisions of other applicable Canadian Securities Laws, and prepare and file promptly any prospectus or marketing material amendment which, in the opinion of the
Company, acting reasonably, may be necessary or advisable, and will otherwise comply with all legal requirements and take all actions necessary to continue to qualify such Registrable Securities for distribution in the applicable provinces and
territories of Canada for as long as may be necessary to complete the distribution of such Registrable Securities. 

  
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 Section 3.1.6.    Delay in Filing; Suspension of
Registration. If the filing, initial effectiveness or continued use of a Demand Registration Statement or the filing or continued use of a Demand Canadian Preliminary Prospectus or Demand Canadian Prospectus (including pursuant to Section
3.2.8(a)) at any time would require the Company to make an Adverse Disclosure, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, as applicable, the
Demand Registration Statement, Demand Canadian Preliminary Prospectus or Demand Canadian Prospectus (a “Demand Suspension”); provided, however, that the Company shall not be permitted to exercise a Demand Suspension
more than once during any twelve (12)-month period and such Demand Suspension may not exceed sixty (60) days. In the case of a Demand Suspension, the Holders agree to suspend use of any applicable U.S. Prospectus, Demand Canadian Preliminary
Prospectus or Canadian Prospectus in connection with any sale or purchase, or offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately notify the Holders in writing upon the
termination of any Demand Suspension, amend or supplement any U.S. Prospectus, if necessary, so it does not contain any untrue statement or omission, amend or supplement any Demand Canadian Preliminary Prospectus or Demand Canadian Prospectus, if
necessary, so that it contains full, true and plain disclosure of all material facts relating to the securities distributed thereunder and does not contain a misrepresentation or if required by applicable Canadian Securities Laws or as may
reasonably be requested by the Holders whose Registrable Securities are covered by such Demand Canadian Preliminary Prospectus or Demand Canadian Prospectus, and furnish to the Holders such numbers of copies of any U.S. Prospectus, Demand Canadian
Preliminary Prospectus or Demand Canadian Prospectus as so amended or supplemented as the Holders may reasonably request. The Company shall, if necessary, supplement or amend any Demand Registration Statement, if required by the registration form
used by the Company for the Demand Registration or by the instructions applicable to such registration form or by the Securities Act or the rules or regulations promulgated thereunder or as may reasonably be requested by the Holders whose
Registrable Securities are included in such Demand Registration Statement. 

Section 3.1.7.    Priority of Securities Registered Pursuant to Demand Registrations. If
the managing underwriter or underwriters of a proposed Underwritten Public Offering of the Registrable Securities included in a Demand Registration advise the Company in writing that, in its or their opinion, the number of securities requested to be
included in such Demand Registration exceeds the number that can be sold in such offering without being likely to have an adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then
the securities to be included in such Registration shall be, in the case of any Demand Registration, (x) first, allocated to each Holder that has requested to participate in such Demand Registration an amount equal to the lesser of (i) the
number of such Registrable Securities requested to be registered or sold by such Holder, and (ii) a number of such shares equal to such Holder’s Pro Rata Portion, and (y) second, and only if all the securities referred to in clause
(x) have been included, the number of other securities that, in the opinion of such managing underwriter or underwriters can be sold without having such adverse effect. 

  
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 Section 3.1.8.    Resale Rights. In the event
that a Holder requests to participate in a Registration pursuant to this Section 3.1 in connection with a distribution of Registrable Securities to its partners or members, the Registration shall provide for resale by such partners or members,
if requested by such Holder. 
 Section 3.2.    Shelf Registration. 

Section 3.2.1.    Request for U.S. Shelf Registration. 

 

	 	(a)	Upon the written request of the BCP Investors from time to time following the first anniversary of an IPO (a “U.S. Shelf Registration Request”), the Company shall promptly file a shelf
Registration Statement with the SEC pursuant to Rule 415 under the Securities Act (each, a “U.S. Shelf Registration Statement”) relating to the offer and sale of Registrable Securities by the BCP Investors from time to time
in accordance with the methods of distribution elected by such Holders, and the Company shall use its reasonable best efforts to cause such U.S. Shelf Registration Statement to promptly become effective under the Securities Act. Any such
Registration pursuant to a U.S. Shelf Registration Request shall hereinafter be referred to as a “U.S. Shelf Registration.” 

  

	 	(b)	If on the date of the U.S. Shelf Registration Request contemplating the filing of a U.S. Shelf Registration Statement the Company is a WKSI, then the U.S. Shelf Registration Request may request Registration with the SEC
of an unspecified amount of Registrable Securities to be sold by unspecified Holders. If on the date of the U.S. Shelf Registration Request the Company is not a WKSI, then the U.S. Shelf Registration Request shall specify the aggregate amount of
Registrable Securities to be registered. The Company shall provide to the Holders the information necessary to determine the Company’s status as a WKSI upon request. 


Section 3.2.2.    U.S. Shelf Registration Notice. Promptly upon receipt of a U.S. Shelf
Registration Request (but in no event more than two (2) Business Days thereafter (or such shorter period as may be reasonably requested in connection with an underwritten “block trade”)), the Company shall deliver a written notice (a
“U.S. Shelf Registration Notice”) of any such request to all other Holders, which notice shall specify, if applicable, the amount of Registrable Securities to be registered, and the U.S. Shelf Registration Notice shall offer
each such Holder the opportunity to include in the U.S. Shelf Registration that number of Registrable Securities as each such Holder may request in writing. The Company shall include in such U.S. Shelf Registration all such Registrable Securities
with respect to which the Company has received written requests for inclusion therein within three (3) Business Days (or such shorter period as may be reasonably requested in connection with an underwritten “block trade” provided such
period is at least 24 hours) after the date that the U.S. Shelf Registration Notice has been delivered; provided, however, that if the Holder, is not, or is not controlled (directly or indirectly) by, a director or officer of the
Company, such time for providing written requests for inclusion shall be extended to five (5) Business Days (or such shorter period as may be reasonably requested in connection with an underwritten “block trade” provided such period
is at least 24 hours). 

  
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 Section 3.2.3.    Continued Effectiveness of U.S.
Shelf Registration Statement. The Company shall use its reasonable best efforts to keep any U.S. Shelf Registration Statement continuously effective under the Securities Act in order to permit the U.S. Prospectus forming part of the U.S. Shelf
Registration Statement to be usable by Holders until the earlier of: (i) the date as of which all Registrable Securities have been sold pursuant to the U.S. Shelf Registration Statement as part of another Registration (but in no event prior to
the applicable period referred to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder); and (ii) the date as of which no Holder holds Registrable Securities (such period of effectiveness, the “U.S. Shelf
Period”). Subject to Section 3.2.4, the Company shall be deemed not to have used its reasonable best efforts to keep the U.S. Shelf Registration Statement effective during the U.S. Shelf Period if the Company voluntarily takes any
action or omits to take any action that would result in Holders of the Registrable Securities covered thereby not being able to offer and sell any Registrable Securities pursuant to such U.S. Shelf Registration Statement during the U.S. Shelf
Period, unless such action or omission is required by applicable law. 
 Section 3.2.4.    
Suspension of U.S. Shelf Registration. If the continued use of such U.S. Shelf Registration Statement at any time would require the Company to make an Adverse Disclosure, the Company may, upon giving prompt written notice of such
action to the Holders, suspend use of the U.S. Shelf Registration Statement (a “U.S. Shelf Suspension”); provided, however, that the Company shall not be permitted to exercise a U.S. Shelf Suspension more than
one time during any twelve (12)-month period for a period not to exceed sixty (60) days. In the case of a U.S. Shelf Suspension, the Holders agree to suspend use of the applicable U.S. Prospectus in connection with any sale or purchase of, or
offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately notify the Holders in writing upon the termination of any U.S. Shelf Suspension, amend or supplement the U.S. Prospectus,
if necessary, so it does not contain any untrue statement or omission and furnish to the Holders such numbers of copies of the U.S. Prospectus as so amended or supplemented as the Holders may reasonably request. The Company shall, if necessary,
supplement or amend the U.S. Shelf Registration Statement, if required by the registration form used by the Company for the U.S. Shelf Registration Statement or by the instructions applicable to such registration form or by the Securities Act or the
rules or regulations promulgated thereunder or as may reasonably be requested by the Holders of a majority of Registrable Securities that are included in such U.S. Shelf Registration Statement. 

Section 3.2.5.    U.S. Shelf Takedown. 

 

	 	(a)	 At any time the Company has an effective U.S. Shelf Registration Statement with respect to a Holder’s
Registrable Securities, by notice to the Company specifying the intended method or methods of disposition thereof, the BCP Investors may make a written request (a “U.S. Shelf Takedown Request”) to the Company to effect a
Public Offering, including an Underwritten U.S. Shelf Takedown, of all or a portion of 



  
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such Registrable Securities that may be registered under such U.S. Shelf Registration Statement, and as soon as practicable the Company shall amend or supplement the U.S. Shelf Registration
Statement as necessary for such purpose. 

  

	 	(b)	Promptly upon receipt of a U.S. Shelf Takedown Request (but in no event more than two (2) Business Days thereafter (or such shorter period as may be reasonably requested in connection with an underwritten
“block trade”)) for any Underwritten U.S. Shelf Takedown, the Company shall deliver a notice (a “U.S. Shelf Takedown Notice”) to each other Holder with Registrable Securities covered by the applicable Registration
Statement, or to all other Holders if such Registration Statement is undesignated (each a “Potential Takedown Participant”). The U.S. Shelf Takedown Notice shall offer each such Potential Takedown Participant the opportunity to
include in any Underwritten U.S. Shelf Takedown such number of Registrable Securities as each such Potential Takedown Participant may request in writing. The Company shall include in the Underwritten U.S. Shelf Takedown all such Registrable
Securities with respect to which the Company has received written requests for inclusion therein within three (3) Business Days (or such shorter period as may be reasonably requested by the BCP Investors in connection with an underwritten
“block trade” provided such period is at least 24 hours) after the date that the U.S. Shelf Takedown Notice has been delivered. Any Potential Takedown Participant’s request to participate in an Underwritten U.S. Shelf Takedown shall
be binding on the Potential Takedown Participant; provided that each such Potential Takedown Participant that elects to participate may condition its participation on the Underwritten U.S. Shelf Takedown being completed within ten
(10) Business Days of its acceptance at a price per share (after giving effect to any underwriters’ discounts or commissions) to such Potential Takedown Participant of not less than ninety percent (90%) (or such lesser percentage specified
by such Potential Takedown Participant) of the closing price for the shares on their principal trading market on the Business Day immediately prior to such Potential Takedown Participant’s election to participate (the “Participation
Conditions”). Notwithstanding the delivery of any U.S. Shelf Takedown Notice, but subject to the Participation Conditions (to the extent applicable), all determinations as to whether to complete any Underwritten U.S. Shelf Takedown and as
to the timing, manner, price and other terms of any Underwritten U.S. Shelf Takedown contemplated by this Section 3.2.5 shall be determined by the BCP Investors. 


Section 3.2.6.    Priority of Securities Sold Pursuant to U.S. Shelf Takedowns. If the managing
underwriter or underwriters of a proposed Underwritten U.S. Shelf Takedown pursuant to Section 3.2.5 advise the Company in writing that, in its or their opinion, the number of securities requested to be included in the proposed Underwritten
U.S. Shelf Takedown exceeds the number that can be sold in such Underwritten U.S. Shelf Takedown without being likely to have an adverse effect on the price, timing or 

  
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distribution of the securities offered or the market for the securities offered, the number of Registrable Securities to be included in such offering shall be (x) first, allocated to each
Holder that has requested to participate in such Underwritten U.S. Shelf Takedown an amount equal to the lesser of (i) the number of such Registrable Securities requested to be registered or sold by such Holder, and (ii) a number of such
shares equal to such Holder’s Pro Rata Portion, and (y) second, and only if all the securities referred to in clause (x) have been included, the number of other securities that, in the opinion of such managing underwriter or
underwriters can be sold without having such adverse effect. 
 Section 3.2.7.    Resale
Rights. In the event that a Holder elects to request a Registration pursuant to this Section 3.2 in connection with a distribution of Registrable Securities to its partners or members, the Registration shall provide for resale by such
partners or members, if requested by such Holder. 
 Section 3.2.8.    Request for Canadian Shelf
Registration 
  

	 	(a)	Upon the written request of the BCP Investors from time to time following an IPO (a “Canadian Shelf Registration Request”), the Company shall promptly file with the applicable Canadian Securities
Authorities, and use its reasonable best efforts to secure the issuance of a receipt or mutual reliance review decision document for, a base shelf preliminary prospectus and base shelf (final) prospectus (the “Canadian Base Shelf
Prospectus”) pursuant to the provisions of NI 44-102 to qualify the distribution of all of the Registrable Securities in each of the provinces and territories of Canada (or as otherwise determined by
the BCP Investors in the Canadian Shelf Registration Request). 

  

	 	(b)	In advance of the expiration of any Canadian Base Shelf Prospectus, except as otherwise directed by the BCP Investors in writing, the Company shall renew such Canadian Base Shelf Prospectus in accordance with Section
3.2.8(a), such that the Company shall at all times have an effective Base Shelf Prospectus with enough capacity to allow the sale thereunder of all remaining Registrable Securities. 


 

	 	(c)	The Company shall satisfy any Demand Registration Request that is submitted pursuant to Section 2.2 at a time that a Base Shelf Prospectus is effective by filing a supplement to the Base Shelf Prospectus (a
“Canadian Shelf Supplement”) with the applicable Canadian Securities Authorities in accordance with NI 44-102 as soon as practicable and in any event not later than three
(3) Business Days after the Demand Registration Request is received. Section 3.1 shall apply mutatis mutandis to any Demand Registration Request effected pursuant to this Section 3.2.8. 


Section 3.3.    Piggyback Registration. 

Section 3.3.1.    Participation. If the Company at any time following its IPO proposes to file
a Registration Statement with respect to any offering of its equity 

  
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securities for its own account or for the account of any BCP Investor under the Securities Act, to qualify any of its equity securities for distribution for its own account or for the account of
any BCP Investor under applicable Canadian Securities Laws in any province or territory of Canada by way of a Canadian Prospectus or to otherwise conduct a Public Offering with respect to any offering of its equity securities for its own account or
for the account of any other Person (other than (i) a Registration under Sections 3.1 or 3.2, (ii) a Registration on Form S-4, Form F-4 or Form S-8 or any successor form to such forms or (iii) a Registration of securities solely relating to an offering and sale to employees or directors of the Company or its subsidiaries pursuant to any employee stock
plan or other employee benefit plan arrangement), then, as soon as practicable (but in no event less than ten (10) Business Days prior to the proposed date of filing of the U.S. Registration Statement, Canadian Preliminary Prospectus or
Canadian Shelf Supplement in respect of such offering or, in the case of a Public Offering under a U.S. Shelf Registration Statement, the anticipated pricing or trade date), the Company shall give written notice (a “Piggyback
Notice”) of such proposed filing or Public Offering to all Holders, and such Piggyback Notice shall offer the Holders the opportunity to register under any such Registration Statement or under any applicable Canadian Prospectus, or to
include in such Public Offering, such number of Registrable Securities as each such Holder may request in writing (a “Piggyback Registration”). Subject to Section 3.3.2, the Company shall include in such Registration Statement,
Canadian Preliminary Prospectus or Canadian Prospectus or in such Public Offering, as applicable, all such Registrable Securities that are requested to be included therein within five (5) days after the receipt by such Holder of any such
notice; provided, however, that if at any time after giving written notice of its intention to register or sell any securities and prior to the effective date of the Registration Statement filed in connection with such Registration,
the filing of a Canadian Prospectus in connection with such Registration, or the pricing or trade date of a Public Offering under a U.S. Shelf Registration Statement, the Company determines for any reason not to register or sell or to delay the
Registration or sale of such securities, the Company shall give written notice of such determination to each Holder and, thereupon, (i) in the case of a determination not to register or sell, shall be relieved of its obligation to register or
sell any Registrable Securities in connection with such Registration or Public Offering (but not from its obligation to pay the Registration Expenses in connection therewith), without prejudice, however, to the rights of any Holders entitled to
request that such Registration or sale be effected as a Demand Registration under Section 3.1 (including pursuant to Section 3.2.8(c)) or an Underwritten U.S. Shelf Takedown under Section 3.2, as the case may be, and (ii) in the case
of a determination to delay Registration or sale, in the absence of a request for a Demand Registration or an Underwritten U.S. Shelf Takedown, as the case may be, shall be permitted to delay registering or selling any Registrable Securities, for
the same period as the delay in registering or selling such other securities. Any Holder shall have the right to withdraw all or part of its request for inclusion of its Registrable Securities in a Piggyback Registration by giving written notice to
the Company of its request to withdraw. 
 Section 3.3.2.    Priority of Piggyback
Registration. If the managing underwriter or underwriters of any proposed offering of Registrable Securities included in a Piggyback Registration informs the Company and the participating Holders in writing that, in its or


  
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their opinion, the number of securities that such Holders and any other Persons intend to include in such offering exceeds the number that can be sold in such offering without being likely to
have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then the securities to be included in such Registration shall be (i) first, one hundred percent (100%) of
the securities that the Company proposes to sell, and (ii) second, and only if all the securities referred to in clause (i) have been included, the number of Registrable Securities that, in the opinion of such managing underwriter or
underwriters, can be sold without having such adverse effect, with such number to be allocated among the Holders that have requested to participate in such Registration based on an amount equal to the lesser of (x) the number of such
Registrable Securities requested to be sold by such Holder, and (y) a number of such shares equal to such Holder’s Pro Rata Portion, and (iii) third, and only if all of the Registrable Securities referred to in clause (ii) have
been included in such Registration, any other securities eligible for inclusion in such Registration. 

Section 3.3.3.    No Effect on Other Registrations. No Registration of Registrable Securities
effected pursuant to a request under this Section 3.3 shall be deemed to have been effected pursuant to Sections 3.1 and 3.2 or shall relieve the Company of its obligations under Sections 3.1 and 3.2. 

Section 3.4.    Lock-Up Agreements. In connection with each
Registration or sale of Registrable Securities pursuant to Section 3.1, 3.2 or 3.3 conducted as an Underwritten Public Offering, including an IPO, each Holder agrees, if requested, to become bound by and to execute and deliver a lock-up agreement with the underwriter(s) of such Underwritten Public Offering restricting such Holder’s right to (a) Transfer, directly or indirectly, any equity securities of the Company held by such
Holder or (b) enter into any swap or other arrangement that transfers to another any of the economic consequences of ownership of such securities during the period commencing on the date of the final U.S. Prospectus and/or of the Canadian
Prospectus relating to the Underwritten Public Offering and ending on the date specified by the underwriters (such period not to exceed (x) one hundred eighty (180) days following the date of closing of the Underwritten Public Offering in
the case of the IPO or (y) ninety (90) days following the date of closing of the Underwritten Public Offering in the case of any registration or sale other than the IPO plus, in each case, such additional period as may be requested by the
Company or an underwriter to accommodate regulatory restrictions on the publication or other distribution of research reports and analyst recommendations and opinions, if applicable). The terms of such lock-up
agreements shall be negotiated among the Holders, the Company and the underwriters and shall include customary carve-outs from the restrictions on Transfer set forth therein including a carve-out to facilitate
any Charitable Gifting Event. 
 Section 3.5.    Registration Procedures. 

Section 3.5.1.    Requirements. In connection with the Company’s obligations under
Sections 3.1 to 3.4, the Company shall use its reasonable best efforts to effect such Registration and to permit the offering, sale and distribution of such Registrable 

  
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Securities in accordance with the intended method or methods of distribution thereof as expeditiously as reasonably practicable, and in connection therewith the Company shall: 

 

	 	(a)	As promptly as practicable prepare the required Registration Statement and U.S. Prospectus and/or Canadian Preliminary Prospectus and Canadian Prospectus including all exhibits, financial statements and ancillary
materials required under the Securities Act or Canadian Securities Laws to be filed therewith, and, before filing a Registration Statement, U.S. Prospectus, Canadian Preliminary Prospectus, Canadian Prospectus or any amendments or supplements
thereto, (x) furnish to the underwriters, if any, and to the Holders of the Registrable Securities covered by such Registration Statement, Canadian Preliminary Prospectus or Canadian Prospectus, copies of all documents prepared to be filed,
which documents shall be subject to the review of such underwriters and such Holders and their respective counsel, (y) make such changes in such documents concerning the Holders prior to the filing thereof as such Holders, or their counsel, may
reasonably request and (z) except in the case of a Registration under Section 3.3 not file any Registration Statement, U.S. Prospectus, Canadian Preliminary Prospectus, Canadian Prospectus or amendments or supplements thereto to which the
participating Holders, in such capacity, or the underwriters, if any, shall reasonably object; 

  

	 	(b)	prepare and file with the applicable Securities Authorities such amendments and post-effective amendments to the Registration Statement, such supplements to the U.S. Prospectus and such amendments and supplements to the
Canadian Preliminary Prospectus and Canadian Prospectus as may be (x) reasonably requested by any Holder with Registrable Securities covered by such Registration (y) reasonably requested by any participating Holder (to the extent such
request relates to information relating to such Holder), or (z) necessary to keep such Registration Statement effective for the period of time required by this Agreement or to continue to qualify such Registrable Securities for distribution as
required by this Agreement, and comply with provisions of the applicable securities laws with respect to the sale or other disposition of all securities covered by such Registration during such period in accordance with the intended method or
methods of disposition by the sellers thereof; 

  

	 	(c)	 notify the participating Holders and the managing underwriter or underwriters, if any, and (if requested) confirm
such notice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company (a) when the applicable Registration Statement or any amendment thereto has been filed or
becomes effective, and when the applicable U.S. Prospectus, Canadian Preliminary Prospectus, Canadian Prospectus, or any amendment or supplement thereto, has been filed (and, in the case of a Canadian Preliminary Prospectus or Canadian Prospectus,
when a receipt or mutual reliance review decision document has been issued therefor), (b) of any written comments by the Securities Authorities, or any request 



  
 - 18 - 









	 	
by the Securities Authorities or other governmental authority in any jurisdiction for amendments or supplements to any such Registration Statement, U.S. Prospectus, Canadian Preliminary
Prospectus or Canadian Prospectus or to any marketing materials, or for additional information (whether before or after the effective date of the Registration Statement) or any other correspondence with the Securities Authorities relating to, or
which may affect, the Registration, (c) of the issuance by the Securities Authorities of any stop order suspending the effectiveness of such Registration Statement or any order by the Securities Authorities or any other regulatory authority
preventing or suspending the use of any preliminary or final U.S. Prospectus or of any Canadian Preliminary Prospectus, Canadian Prospectus or marketing materials, or the initiation or threatening of any proceedings for such purposes, (d) if,
at any time, the representations and warranties of the Company in any applicable underwriting agreement cease to be true and correct in all material respects and (e) of the receipt by the Company of any notification with respect to the
suspension of the qualification of the Registrable Securities for offering, sale or distribution in any jurisdiction or the initiation or threatening of any proceeding for such purpose; 


 

	 	(d)	promptly notify each selling Holder and the managing underwriter or underwriters, if any, when the Company becomes aware of the happening of any event as a result of which any applicable Registration Statement or the
U.S. Prospectus included in such Registration Statement (as then in effect) contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein (in the case of such U.S. Prospectus or any
preliminary U.S. Prospectus, in light of the circumstances under which they were made) not misleading or as a result of which any Canadian Preliminary Prospectus, Canadian Prospectus or marketing materials would contain a misrepresentation or a
statement otherwise misleading or untrue, when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the Registration Statement, or, if for any other reason it shall be necessary during such time
period to amend or supplement such Registration Statement, U.S. Prospectus, Canadian Preliminary Prospectus, Canadian Prospectus or marketing materials in order to comply with the Securities Act or Canadian Securities Laws and, as promptly as
reasonably practicable thereafter, prepare and file with the SEC and/or the applicable Canadian Securities Authority, and furnish without charge to the selling Holders and the managing underwriter or underwriters, if any, an amendment or supplement
to such Registration Statement, U.S. Prospectus, Canadian Preliminary Prospectus, Canadian Prospectus or marketing materials which shall correct such misstatement or omission or effect such compliance; 


 

	 	(e)	 to the extent the Company is eligible under the relevant provisions of Rule 430B under the Securities Act, if the
Company files any U.S. Shelf 



  
 - 19 - 









	 	
Registration Statement, the Company shall include in such U.S. Shelf Registration Statement such disclosures as may be required by Rule 430B under the Securities Act (referring to the unnamed
selling security holders in a generic manner by identifying the initial offering of the securities to the Holders) in order to ensure that the Holders may be added to such U.S. Shelf Registration Statement at a later time through the filing of a
U.S. Prospectus supplement rather than a post-effective amendment; 

  

	 	(f)	use its reasonable best efforts to prevent, or obtain the withdrawal of, any stop order or other order or notice preventing or suspending the use of any preliminary or final U.S. Prospectus or of any Canadian
Preliminary Prospectus, Canadian Prospectus or marketing materials; 

  

	 	(g)	promptly incorporate in a U.S. Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment such information as the managing underwriter or underwriters and the selling Holders agree should be
included therein relating to the plan of distribution with respect to such Registrable Securities; and make all required filings of such U.S. Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment as soon as reasonably
practicable after being notified of the matters to be incorporated in such U.S. Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment; 


 

	 	(h)	furnish to each selling Holder and each underwriter, if any, without charge, as many conformed copies as such Holder or underwriter may reasonably request of any applicable Registration Statement, Canadian Preliminary
Prospectus or Canadian Prospectus and any amendment or post-effective amendment or supplement thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits (including those incorporated by
reference); 

  

	 	(i)	deliver to each selling Holder and each underwriter, if any, without charge, as many copies of any applicable U.S. Prospectus (including each preliminary U.S. Prospectus), Canadian Preliminary Prospectus or Canadian
Prospectus and any amendment or supplement thereto and such other documents as such Holder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such Holder or underwriter (it being understood
that the Company shall consent to the use of such U.S. Prospectus, Canadian Preliminary Prospectus or Canadian Prospectus or any amendment or supplement thereto by each of the selling Holders and the underwriters, if any, in connection with the
offering, sale or distribution of the Registrable Securities covered by such U.S. Prospectus, Canadian Preliminary Prospectus or Canadian Prospectus or any amendment or supplement thereto); 


 

	 	(j)	 on or prior to the date on which any applicable Registration Statement becomes effective or any applicable
Canadian Prospectus is filed, use its 



  
 - 20 - 









	 	
reasonable best efforts to register or qualify, and cooperate with the selling Holders, the managing underwriter or underwriters, if any, and their respective counsel, in connection with the
Registration or qualification of such Registrable Securities for offer and sale under the securities or “Blue Sky” laws of each state and other jurisdiction as any such selling Holder or managing underwriter or underwriters, if any, or
their respective counsel reasonably request in writing and do any and all other acts or things reasonably necessary or advisable to keep such Registration or qualification in effect for such period as required by Section 3.1 or
Section 3.2, as applicable, provided that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general
service of process in any such jurisdiction where it is not then so subject; 

  

	 	(k)	cooperate with the selling Holders and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and enable such
Registrable Securities to be in such denominations and registered in such names as the managing underwriters may request prior to any sale of Registrable Securities to the underwriters; 


 

	 	(l)	use its reasonable best efforts to cause the Registrable Securities covered by the applicable Registration to be registered with or approved by such other governmental agencies or authorities as may be necessary to
enable the seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition of such Registrable Securities; 

  

	 	(m)	not later than the effective date of any applicable Registration Statement or the filing of any applicable Canadian Prospectus, provide a CUSIP number for all Registrable Securities and, as applicable, provide the
applicable transfer agent with printed certificates for the Registrable Securities which are in a form eligible for deposit with The Depository Trust Company or CDS Clearing and Depository Services Inc., as applicable; 


 

	 	(n)	make such representations and warranties to the Holders of which Registrable Securities are being registered, and the underwriters or agents, if any, in form, substance and scope as are customarily made by issuers in
public offerings similar to the offering then being undertaken; 

  

	 	(o)	enter into such customary agreements (including underwriting and indemnification agreements) and take all such other actions as the selling Holders or the managing underwriter or underwriters, if any, reasonably request
in order to expedite or facilitate the Registration and disposition of such Registrable Securities; 


  
 - 21 - 









	 	(p)	obtain for delivery to the Holders of the Registrable Securities being registered and to the underwriter or underwriters, if any, an opinion or opinions from counsel for the Company dated the most recent effective date
of any Registration Statement or, in the event of an Underwritten Public Offering or if customary in public offerings similar to the offering then being undertaken, the date of the closing under the underwriting agreement or for such offering, in
customary form, scope and substance, which opinions shall be reasonably satisfactory to such Holders or underwriters, as the case may be, and their respective counsel; 


 

	 	(q)	in the case of an Underwritten Public Offering, obtain for delivery to the Company and the managing underwriter or underwriters, with copies to the Holders included in such Registration or sale, a comfort letter from
the Company’s independent certified public accountants or independent auditors (and, if necessary, any other independent certified public accountants or independent auditors of any subsidiary of the Company or any business acquired by the
Company for which financial statements and financial data are, or are required to be, included in the Registration Statement or Canadian Prospectus) in customary form and covering such matters of the type customarily covered by comfort letters as
the managing underwriter or underwriters reasonably request, dated the date of execution of the underwriting agreement and brought down to the closing under the underwriting agreement; 


 

	 	(r)	cooperate with each seller of Registrable Securities and each underwriter, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to
be made with FINRA or IIROC; 

  

	 	(s)	use its reasonable best efforts to comply with all applicable securities laws and, if a Registration Statement was filed, make available to its security holders, as soon as reasonably practicable, an earnings statement
satisfying the provisions of Section 11(a) of the Securities Act and the rules and regulations promulgated thereunder; 

  

	 	(t)	provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by such Registration; 

  

	 	(u)	use its reasonable best efforts to cause all Registrable Securities covered by such Registration to be listed on each securities exchange on which any of the Company’s equity securities are then listed or quoted
and on each inter-dealer quotation system on which any of the Company’s equity securities are then quoted; 

  

	 	(v)	 make available upon reasonable notice at reasonable times and for reasonable periods for inspection by a
representative appointed by the selling Holders, by any underwriter participating in any Registration and 



  
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by any attorney, accountant or other agent retained by such Holders or any such underwriter, all pertinent financial and other records and pertinent corporate documents and properties of the
Company, and cause all of the Company’s officers, Directors and employees and the independent public accountants who have certified its financial statements to make themselves available to discuss the business of the Company and to supply all
information reasonably requested by any such Person in connection with such Registration; 

  

	 	(w)	in the case of an Underwritten Public Offering, cause the senior executive officers of the Company to participate in the customary “road show” presentations that may be reasonably requested by the managing
underwriter or underwriters in any such offering and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related thereto; 


 

	 	(x)	take no direct or indirect action prohibited by Regulation M under the Exchange Act; 

  

	 	(y)	take all reasonable action to (y) ensure that any Issuer Free Writing Prospectus utilized in connection with such Registration complies in all material respects with the Securities Act, is filed in accordance with
the Securities Act to the extent required thereby, is retained in accordance with the Securities Act to the extent required thereby and, when taken together with the related U.S. Prospectus, will not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading and (z) ensure that any marketing materials to be provided in connection with such Registration
comply with Canadian Securities Laws and approve in writing all such marketing materials (including as may be reasonably required by any managing underwriter or underwriters) and file such marketing materials to the extent required for the use of
such marketing materials under applicable Canadian Securities Laws; 

  

	 	(z)	cooperate with the Holders of Registrable Securities subject of the Registration Statement or Canadian Prospectus and with the management underwriter or agent, if any to facilitate any Charitable Gifting Event and to
prepare and file with the SEC such amendments and supplements to such Registration Statement, U.S. Prospectus or Canadian Prospectus used in connection therewith as may be necessary to permit any such recipient Charitable Organization to selling the
Public Offering if it so elects; and 

  

	 	(aa)	take all such other commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition of such Registrable Securities in accordance with the terms of this Agreement.



  
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 Section 3.5.2.    Company Information Requests.
The Company may require each seller of Registrable Securities as to which any Registration or sale is being effected to furnish to the Company such information regarding the distribution of such securities and such other information relating to such
Holder and its ownership of Registrable Securities as the Company may from time to time reasonably request in writing and the Company may exclude from such Registration or sale the Registrable Securities of any such Holder who unreasonably fails to
furnish such information within a reasonable time after receiving such request. Each Holder agrees to furnish such information to the Company and to cooperate with the Company as reasonably necessary to enable the Company to comply with the
provisions of this Agreement. 
 Section 3.5.3.    Discontinuing Registration. Each Holder
agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.5.1(d), such Holder will discontinue disposition of Registrable Securities pursuant to such Registration Statement or the
distribution of Registrable Securities under such Canadian Preliminary Prospectus, Canadian Prospectus or marketing materials until such Holder’s receipt of the copies of the supplemented or amended U.S. Prospectus or Canadian Preliminary
Prospectus, Canadian Prospectus or marketing materials contemplated by Section 3.5.1(d), or until such Holder is advised in writing by the Company that the use of the U.S. Prospectus, Canadian Preliminary Prospectus, Canadian Prospectus or marketing
materials may be resumed, and, as applicable, has received copies of any additional or supplemental filings that are incorporated by reference in the U.S. Prospectus, Canadian Preliminary Prospectus or Canadian Prospectus, or any amendments or
supplements thereto, and if so directed by the Company, such Holder shall deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Holder’s possession, of such documents current at the
time of receipt of such notice. In the event the Company shall give any such notice, the period during which any applicable Registration Statement is required to be maintained effective shall be extended by the number of days during the period from
and including the date of the giving of such notice to and including the date when each seller of Registrable Securities covered by such Registration Statement either receives the copies of the supplemented or amended U.S. Prospectus contemplated by
Section 3.5.1(d) or is advised in writing by the Company that the use of the U.S. Prospectus may be resumed. 

Section 3.6.    Underwritten Offerings. 

Section 3.6.1.    Shelf and Demand Registrations. If requested by the underwriters for
any Underwritten Public Offering, pursuant to a Registration or sale under Sections 3.1 or 3.2, the Company shall enter into an underwriting agreement with such underwriters, such agreement to be reasonably satisfactory in substance and form to each
of the Company, the Holders and the underwriters, and to contain such representations and warranties by the Company and such other terms as are generally prevailing in agreements of that type, including indemnities no less favorable to the recipient
thereof than those provided in Section 3.9 of this Agreement. The Holders of the Registrable Securities proposed to be distributed by such underwriters shall cooperate with the Company in the negotiation of the underwriting agreement and shall
give consideration to the reasonable suggestions of the Company regarding the form thereof, and such Holders 

  
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shall complete and execute all questionnaires, powers of attorney and other documents reasonably requested by the underwriters and required under the terms of such underwriting arrangements. Any
such Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements regarding such Holder, such Holder’s title to the Registrable
Securities, such Holder’s intended method of distribution and any other representations to be made by the Holder as are generally prevailing in agreements of that type, and the aggregate amount of the liability of such Holder under such
agreement shall not exceed such Holder’s proceeds from the sale of its Registrable Securities in the offering, net of underwriting discounts and commissions but before expenses. 

Section 3.6.2.    Piggyback Registrations. If the Company proposes to register or sell any of
its securities as contemplated by Section 3.3 and such securities are to be distributed through one or more underwriters, the Company shall, if requested by any Holder pursuant to Section 3.3 and, subject to the provisions of
Section 3.3.2, use its reasonable best efforts to arrange for such underwriters to include on the same terms and conditions that apply to the other sellers in such Registration or sale all the Registrable Securities to be offered and sold by
such Holder among the securities of the Company to be distributed by such underwriters in such Registration or sale. The Holders of Registrable Securities to be distributed by such underwriters shall be parties to the underwriting agreement between
the Company and such underwriters and shall complete and execute all questionnaires, powers of attorney and other documents reasonably requested by the underwriters and required under the terms of such underwriting arrangements. Any such Holder
shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements regarding such Holder, such Holder’s title to the Registrable Securities,
such Holder’s intended method of distribution and any other representations to be made by the Holder as are generally prevailing in agreements of that type, and the aggregate amount of the liability of such Holder shall not exceed such
Holder’s proceeds from the sale of its Registrable Securities in the offering, net of underwriting discounts and commissions but before expenses. 

Section 3.6.3.    Selection of Underwriters; Selection of Counsel. At a time when any BCP
Investor is a Holder pursuant to this Agreement, (i) in the case of an Underwritten Public Offering under Sections 3.1 or 3.2 the managing underwriter or underwriters to administer the offering shall be determined by the BCP Investors;
(ii) in the case of an Underwritten Public Offering under Section 3.3, the managing underwriter or underwriters to administer the offering shall be determined by the Company; provided that such underwriter or underwriters shall be
reasonably acceptable to the BCP Investors; and (iii) in the case of an Underwritten Public Offering under Sections 3.1, 3.2 or 3.3, counsel to the Holders shall be selected by the BCP Investors. Once no BCP Investor is a Holder hereunder, the
Reiss Investors shall be substituted for the BCP Investors under this Section 3.6.3 and, for greater certainty, shall thereafter be entitled to the rights contemplated under this Section 3.6.3. 

  
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 Section 3.7.    No Inconsistent Agreements; Additional Rights.
Neither the Company nor any of its subsidiaries shall hereafter enter into, and neither the Company nor any of its subsidiaries is currently a party to, any agreement with respect to its securities that is inconsistent with the rights granted to the
Holders by this Agreement. Neither the Company nor any of its subsidiaries shall enter into any agreement granting registration or similar rights to any Person without the approval of each of the BCP Investors and Reiss Investors that are Holders
hereunder at the time such agreement is entered into or such grant is agreed to, and the Company hereby represents and warrants that, as of the date hereof, no registration or similar rights have been granted to any other Person other than pursuant
to this Agreement. 
 Section 3.8.    Registration Expenses. All expenses incident to the Company’s
performance of or compliance with this Agreement shall be paid by the Company, including (i) all registration and filing fees, and any other fees and expenses associated with filings required to be made with the SEC, FINRA, the Canadian
Securities Authorities or IIROC, (ii) all fees and expenses in connection with compliance with any securities or “Blue Sky” laws (including reasonable fees and disbursements of counsel for the underwriters in connection with blue sky
qualifications of the Registrable Securities), (iii) all printing, translation, duplicating, word processing, messenger, telephone, facsimile and delivery expenses (including all expenses of any transfer agent and expenses relating to The
Depository Trust Company or CDS Clearing and Depository Services Inc. and of printing prospectuses or other offering documents), (iv) all fees and disbursements of counsel for the Company and of all independent certified public accountants or
independent auditors of the Company and any subsidiaries of the Company (including the expenses of any special audit and comfort letters required by or incident to such performance), (v) Securities Act liability insurance or similar insurance
if the Company so desires or the underwriters so require in accordance with then-customary underwriting practice, (vi) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or
quotation of the Registrable Securities on any inter-dealer quotation system, (viii) all reasonable fees and disbursements of legal counsel for the selling Holders, (ix) any reasonable fees and disbursements of underwriters customarily
paid by issuers or sellers of securities, (x) all fees and expenses incurred in connection with the distribution or Transfer of Registrable Securities to or by a Holder or its Permitted Transferees in connection with a Public Offering,
(xi) all fees and expenses of any special experts or other Persons retained by the Company in connection with any Registration or sale, (xii) all of the Company’s internal expenses (including all salaries and expenses of its officers
and employees performing legal or accounting duties) and (xiii) all expenses related to any “road show”, including the reasonable out-of-pocket expenses
of the Holders and underwriters, if so requested. All such expenses are referred to herein as “Registration Expenses”. The Company shall not be required to pay any fees and disbursements to underwriters not customarily paid by the
issuers of securities in an offering similar to the applicable offering, including underwriting discounts and commissions and transfer taxes, if any, attributable to the sale of Registrable Securities. 

Section 3.9.    Indemnification. 

Section 3.9.1.    Indemnification by the Company. The Company shall indemnify and hold
harmless, to the full extent permitted by law, each Holder, each shareholder, member, limited or general partner of such Holder, each shareholder, member, limited or general partner of each such shareholder, member, limited or general partner, each
of their respective Affiliates, officers, directors, managers, shareholders, employees, 

  
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advisors, and agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act or of analogous provisions under applicable Canadian Securities Laws) or is deemed
to control such Persons and each of their respective Representatives from and against any and all losses, penalties, judgments, suits, costs, claims, damages, liabilities and expenses, joint or several (including reasonable costs of investigation
and legal expenses and any indemnity and contribution payments made to underwriters ) (each, a “Loss” and collectively “Losses”) arising out of or based upon (i) (A) any untrue or alleged untrue statement of a
material fact contained in any Registration Statement under which such Registrable Securities are registered or sold under the Securities Act (including any final, preliminary or summary U.S. Prospectus contained therein or any amendment thereof or
supplement thereto or any documents incorporated by reference therein), or (B) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a U.S.
Prospectus or preliminary U.S. Prospectus, in light of the circumstances under which they were made) not misleading, (ii) any information or statement in a Canadian Preliminary Prospectus or Canadian Prospectus that contains or is alleged to
contain a misrepresentation or any omission of a Canadian Preliminary Prospectus or Canadian Prospectus to contain full, true and plain disclosure of all material facts relating to the securities distributed thereunder, (iii) any untrue or
alleged untrue statement of a material fact contained in any other disclosure document produced by or on behalf of the Company or any of its subsidiaries including any report and other document filed under the Exchange Act or Canadian Securities
Laws or (iv) any violation or alleged violation by the Company or any of its subsidiaries of any federal, state, provincial, foreign or common law rule or regulation applicable to the Company or any of its subsidiaries and relating to action or
inaction in connection with any such registration, disclosure document or other document or report; provided, that no selling Holder shall be entitled to indemnification pursuant to this Section 3.9.1 in respect of any untrue statement
or omission or any misrepresentation contained in any information relating to such selling Holder furnished in writing by such selling Holder to the Company specifically for inclusion in a Registration Statement, Canadian Preliminary Prospectus or
Canadian Prospectus and used by the Company in conformity therewith (such information “Selling Holder Information”). This indemnity shall be in addition to any liability the Company may otherwise have. Such indemnity shall remain in
full force and effect regardless of any investigation made by or on behalf of such Holder or any indemnified party and shall survive the Transfer of such securities by such Holder and regardless of any indemnity agreed to in the underwriting
agreement that is less favorable to the Holders. The Company shall also indemnify underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution, their officers and directors and each
Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above (with appropriate modification) with respect to the indemnification of the indemnified parties. 

Section 3.9.2.    Indemnification by the Selling Holders. Each selling Holder agrees (severally
and not jointly) to indemnify and hold harmless, to the fullest extent permitted by law, the Company, its Directors and officers and each Person who controls (within the meaning of the Securities Act or the Exchange Act or of analogous provisions
under applicable Canadian Securities Laws) or is deemed to control the Company from 

  
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and against any Losses resulting from (i) (A) any untrue statement of a material fact in any Registration Statement under which such Registrable Securities were registered or sold under
the Securities Act (including any final, preliminary or summary U.S. Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein) or (B) any omission to state therein a material
fact required to be stated therein or necessary to make the statements therein (in the case of a U.S. Prospectus or preliminary U.S. Prospectus, in light of the circumstances under which they were made) not misleading, or (ii) any information
or statement in a Canadian Preliminary Prospectus or Canadian Prospectus that contains a misrepresentation, in each case to the extent, but only to the extent, that such untrue statement or omission or such misrepresentation is contained in such
selling Holder’s Selling Holder Information. In no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the proceeds from the sale of its Registrable Securities in the offering giving rise to
such indemnification obligation, net of underwriting discounts and commissions but before expenses, less any amounts paid by such Holder pursuant to Section 3.9.4 and any amounts paid by such Holder as a result of liabilities incurred under the
underwriting agreement, if any, related to such sale. 
 Section 3.9.3.    Conduct of
Indemnification Proceedings. Any Person entitled to indemnification hereunder shall (a) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or
failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder only to the extent, if at all, that it forfeits substantive legal rights by reason of such delay or failure) and (b) permit such
indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided, however, that any Person entitled to indemnification hereunder shall have the right to select and employ
separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person unless (i) the indemnifying party has agreed in writing to pay such fees or expenses,
(ii) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the Person entitled to indemnification hereunder and employ counsel reasonably satisfactory to
such Person, (iii) the indemnified party has reasonably concluded (based upon advice of its counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the
indemnifying party, or (iv) in the reasonable judgment of any such Person (based upon advice of its counsel) a conflict of interest may exist between such Person and the indemnifying party with respect to such claims (in which case, if the
Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such
Person). If the indemnifying party assumes the defense, the indemnifying party shall not have the right to settle such action without the consent of the indemnified party. No indemnifying party shall consent to entry of any judgment or enter into
any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an unconditional release from all liability in respect to such claim or litigation without the prior written
consent of such indemnified party. If such defense is not assumed by the indemnifying party, the indemnifying party will not 

  
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be subject to any liability for any settlement made without its prior written consent, but such consent may not be unreasonably withheld. It is understood that the indemnifying party or parties
shall not, except as specifically set forth in this Section 3.9.3, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements or other charges of more than one separate
firm admitted to practice in such jurisdiction at any one time unless (x) the employment of more than one counsel has been authorized in writing by the indemnifying party or parties, (y) an indemnified party has reasonably concluded (based
on the advice of counsel) that there may be legal defenses available to it that are different from or in addition to those available to the other indemnified parties or (z) a conflict or potential conflict exists or may exist (based upon advice
of counsel to an indemnified party) between such indemnified party and the other indemnified parties, in each of which cases the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel or counsels.

 Section 3.9.4.    Contribution. If for any reason the indemnification provided for in
Section 3.9.1 and Section 3.9.2 is unavailable to an indemnified party or insufficient in respect of any Losses referred to therein (other than as a result of exceptions or limitations on indemnification contained in Section 3.9.1 and
Section 3.9.2), then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one
hand and the indemnified party or parties on the other hand in connection with the acts, statements or omissions that resulted in such Losses, as well as any other relevant equitable considerations. The relative fault of the indemnifying party on
the one hand and the indemnified party on the other hand shall be determined by reference to, among other things whether any untrue or alleged untrue statement of a material fact or misrepresentation or the omission or alleged omission to state a
material fact relates to information supplied by the indemnifying party or by the indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement, misrepresentation or
omission. The parties hereto agree that it would not be just or equitable if contribution pursuant to this Section 3.9.4 were determined by pro rata allocation or by any other method of allocation that does not take account of the
equitable considerations referred to in this Section 3.9.4. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation. The amount paid or payable by an indemnified party as a result of the Losses referred to in Sections 3.9.1 and 3.9.2 shall be deemed to include, subject to the limitations set forth above, any legal or
other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 3.9.4, in connection with any Registration effected pursuant to
this Agreement, a selling Holder shall not be required to contribute any amount in excess of the dollar amount of the proceeds from the sale of its Registrable Securities in the offering giving rise to such indemnification obligation, net of
underwriting discounts and commissions but before expenses, less any amounts paid by such Holder pursuant to Section 3.9.2 and any amounts paid by such Holder as a result of liabilities incurred under the underwriting agreement, if any, related
to such Registration. If indemnification is available under this Section 3.9, the 

  
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indemnifying parties shall indemnify each indemnified party to the full extent provided in Sections 3.9.1 and 3.9.2 hereof without regard to the provisions of this Section 3.9.4. The
remedies provided for in this Section 3.9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. 

Section 3.9.5.    Priority. The Company hereby acknowledges and agrees that any Person entitled
to indemnification pursuant to Section 3.9.1 (a “Company Indemnitee”) may have certain rights to indemnification, advancement of expenses and/or insurance provided by other sources. The Company hereby acknowledges and agrees
(i) that it is the indemnitor of first resort (i.e., its obligations to a Company Indemnitee are primary and any obligation of such other sources to advance expenses or to provide indemnification for the same expenses or liabilities incurred by
such Company Indemnitee are secondary) and (ii) that it shall be required to advance the full amount of expenses incurred by a Company Indemnitee and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts
paid in settlement to the extent legally permitted and as required by the terms of this Agreement without regard to any rights a Company Indemnitee may have against such other sources. The Company further agrees that no advancement or payment by
such other sources on behalf of a Company Indemnitee with respect to any claim for which such Company Indemnitee has sought indemnification, advancement of expenses or insurance from the Company shall affect the foregoing, and that such other
sources shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Company Indemnitee against the Company. 

Section 3.10.    Rules 144 and 144A and Regulation S. The Company shall file the reports
required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such reports, it will, upon the request of any Holder, make publicly
available such necessary information for so long as necessary to permit sales that would otherwise be permitted by this Agreement pursuant to Rule 144, Rule 144A or Regulation S under the Securities Act, as such rules may be amended from time to
time or any similar rule or regulation hereafter adopted by the SEC), and it will take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities
without Registration under the Securities Act in transactions that would otherwise be permitted by this Agreement and within the limitation of the exemptions provided by (i) Rule 144, Rule 144A or Regulation S under the Securities Act, as such
rules may be amended from time to time, or (ii) any similar rule or regulation hereafter adopted by the SEC. Upon the request of any Holder, the Company will deliver to such Holder a written statement as to whether it has complied with such
requirements and, if not, the specifics thereof. 
 Section 3.11.    Compliance with Canadian Securities
Laws. With a view to making available the benefits of Canadian Securities Laws that may at any time permit the resale of Registrable Securities without the filing of a Canadian Prospectus, at all times after the Company becoming a reporting
issuer or the equivalent under Canadian Securities Laws in any province or territory of Canada, the Company agrees to use is reasonable best efforts to (a) file with the appropriate Canadian Securities Authority authorities in a timely manner
all reports and other 

  
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documents required under Canadian Securities Laws, and (b) so long as any Holder owns any Registrable Securities, furnish to any Holder forthwith upon request a written statement by the
Company stating that the Company is a reporting issuer and is not in default of any requirement under Canadian Securities Laws. 

Section 3.12.    Existing Registration Statements. Notwithstanding anything herein to the contrary and
subject to applicable law and regulation, the Company may satisfy any obligation hereunder to file a Registration Statement or to have a Registration Statement become effective by a specified date by designating, by notice to the Holders, a
Registration Statement that previously has been filed with the SEC or become effective, as the case may be, as the relevant Registration Statement or U.S. Prospectus for purposes of satisfying such obligation, and all references to any such
obligation shall be construed accordingly; provided that such previously filed Registration Statement may be, and is, amended or, subject to applicable securities laws, supplemented to add the number of Registrable Securities, and, to the
extent necessary, to identify as selling shareholders those Holders demanding the filing of a Registration Statement pursuant to the terms of this Agreement. To the extent this Agreement refers to the filing or effectiveness of other Registration
Statements, by or at a specified time and the Company has, in lieu of then filing such Registration Statements or having such Registration Statements become effective, designated a previously filed or effective Registration Statement as the relevant
Registration Statement for such purposes, in accordance with the preceding sentence, such references shall be construed to refer to such designated Registration Statement, as amended or supplemented in the manner contemplated by the immediately
preceding sentence. 
 Section 3.13.    Short Form Registrations. After the Company becoming a reporting
issuer or the equivalent under Canadian Securities Laws in any province or territory of Canada, the Company agrees to use its reasonable best efforts to make available and maintain the availability of short form prospectus Registrations pursuant to
NI 44-101. For greater certainty, references herein to a Canadian Preliminary Prospectus or a Canadian Prospectus shall as applicable include a short form Canadian Preliminary Prospectus or a short form
Canadian Prospectus. 
 ARTICLE IV 

GOVERNANCE 

Section 4.1.    Board Nomination Rights. 

Section 4.1.1.    Size and Composition of the Board. At the time this Agreement becomes
effective, the Board shall consist of five Directors. The initial Directors shall be Dani Reiss (Chairman), Joshua Bekenstein, Ryan Cotton, Stephen Gunn and Jean-Marc Huët. The initial BCP Group Directors shall be Joshua Bekenstein and Ryan
Cotton. The initial Reiss Group Director shall be Dani Reiss. 
 Section 4.1.2.    Designation of
Nominees. Pursuant to the terms and subject to the conditions of this Section 4.1 and applicable law, in respect of any Director Election Meeting the Company shall take all necessary action to nominate at least three (3) Independent
Directors who meet the requirements set forth in Rule 10A-3 of the Exchange Act. In addition, in respect of any Director Election Meeting: 

 

	 	(a)	as long as the BCP Group Permitted Holders hold, directly or indirectly, at least 40% of the Voting Shares outstanding (on a non-diluted basis), the BCP Group Permitted Holders
shall be entitled to designate 50% of the Nominees, rounding up to the nearest whole number; 


  
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	 	(b)	as long as the BCP Group Permitted Holders hold, directly or indirectly, at least 20% of the Voting Shares outstanding (but less than 40% thereof), the BCP Group Permitted Holders shall be entitled to designate the
greater of (i) one Nominee and (ii) 30% of the Nominees, rounding up to the nearest whole number; 

  

	 	(c)	as long as the BCP Group Permitted Holders hold, directly or indirectly, at least 5% of the Voting Shares outstanding (but less than 20% thereof), the BCP Group Permitted Holders shall be entitled to designate the
greater of (i) one Nominee and (ii) 10% of the Nominees, rounding up to the nearest whole number; and 

  

	 	(d)	as long as the Reiss Group Permitted Holders hold, directly or indirectly, at least 5% of the Voting Shares outstanding, the Reiss Group Permitted Holders shall be entitled to designate one Nominee. 


Section 4.1.3.    Nomination and Election Procedures. 

 

	 	(a)	The Company shall notify each Shareholder Group having a right to designate one or more Nominee under Section 4.1.2 of its intent to hold a Director Election Meeting at least 60 Business Days prior to the
date of such Director Election Meeting. 

  

	 	(b)	Each Shareholder Group having a right to designate one or more Nominee under Section 4.1.2 may notify the Company of its designated Nominee(s) at any time but no less than 25 Business Days
prior to the date of any Director Election Meeting. If, prior to the Director Election Meeting, the Nominee of a Shareholder Group is unable or unwilling to serve as a Director, then such Shareholder Group will be entitled to designate a
replacement Nominee. 

  

	 	(c)	For so long as a Shareholder Group has the right to designate one or more Nominees under Section 4.1.2, the Company shall nominate for election and include in any management information circular relating to any
annual or special meeting (or submit to shareholders by written consent if applicable) each person designated as Nominee of such Shareholder Group and take all steps which may be necessary or appropriate to recognize, enforce and comply with the
rights of any Shareholder Group under this Section 4.1. 

  

	 	(d)	Subject to Section 4.1.6, each Shareholder Group shall vote or cause to be voted all Voting Shares that it holds, directly or indirectly, or over which it exercises control or direction, in favor of any Nominee
designated by the other Shareholder Group at any Director Election Meeting, pursuant to the terms and subject to the conditions of this Section 4.1. 


  
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 Section 4.1.4.    Other Nominees. The selection
of Nominees other than the Nominees designated by the Shareholder Groups pursuant to Section 4.1.2 (including when any designation right of a Shareholder Group have not been exercised pursuant thereto), shall rest with the Board, or the
Nominating and Governance Committee, if so determined by the Board. 

Section 4.1.5.    Replacement Appointment. If any Nominee of a Shareholder Group resigns, is
removed, or is unable to serve for any reason prior to the expiration of his or her term as a Director, then such Shareholder Group shall be entitled to designate a replacement to be appointed by the Board as Director as soon as reasonably
practicable, except where such Shareholder Group would have otherwise ceased to be entitled to designate such Nominee pursuant to Section 4.1.2. 

Section 4.1.6.    Cessation; Resignation. Any Shareholder Group shall cease to have any rights
or obligations under this Section 4.1 immediately upon ceasing to have the right to designate any Nominee pursuant to the terms of Section 4.1.2 and shall concurrently therewith, if requested by the Board, use its reasonable efforts to
promptly obtain and deliver to the Company the written resignation of any Director previously designated by it pursuant to the terms of Section 4.1.2. 

Section 4.1.7.    Qualifications. Notwithstanding anything to the contrary in this Agreement,
all Directors (including Directors designated by the Shareholder Groups) shall, at all times while serving on the Board, meet the qualification requirements to serve as a director under the BCBCA, applicable securities laws and the rules of any
stock exchange on which the Subordinate Voting Shares are listed. 
 Section 4.2.    Board Committees. 

Section 4.2.1.    Composition of the Committees. The committees of the Board and their
composition shall initially consist of the following: 
  

	 	(a)	Audit Committee: Stephen Gunn (Chairman), Ryan Cotton, and Jean-Marc Huët; 

  

	 	(b)	Compensation Committee: Joshua Bekenstein (Chairman) and Ryan Cotton; and 

  

	 	(c)	Nominating and Governance Committee: Ryan Cotton (Chairman), Dani Reiss and Joshua Bekenstein. 


Section 4.2.2.    Chairman; Director Compensation. Dani Reiss shall serve as the initial
Chairman of the Board, and shall continue to serve as Chairman of the Board for so long as he remains Chief Executive Officer of the Company. For greater certainty, in the event Dani Reiss ceases to be an executive officer of the Company but remains
a Director, he shall be entitled to receive compensation on the same terms and conditions as an Independent Director in the ordinary course. 

  
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 Section 4.2.3.    Right to Committee Appointment.
For so long as the BCP Group Permitted Holders have a right to designate one or more Nominees under Section 4.1.2, the BCP Group Permitted Holders shall be entitled at all time to designate one Director for appointment to each committee of the
Board, subject to applicable law and the rules of the NYSE and TSX. Subject to the foregoing, all members of the committees of the Board shall be selected by the Board. 

Section 4.3.    Expenses. 

Section 4.3.1.    The Company shall reimburse the members of the Board for all reasonable out-of-pocked expenses incurred in connection with the attendance at meetings of the Board and any committees thereof, including without limitation, travel, lodging and meal
expenses. 
 Section 4.3.2.    The Company shall obtain customary director and officer liability
insurance on commercially reasonable terms. 
 Section 4.4.    Written Consent or Resolutions. The
provisions of this ARTICLE IV applicable to Director Election Meetings shall apply mutatis mutandis to any written consent or resolutions of shareholders relating to the election of Directors. 

Section 4.5.    Quorum. As long as the BCP Group Permitted Holders has the right to designate at least two
Nominees under Section 4.1.2, and except where no Director is a BCP Group Director, the quorum for any meeting of Directors shall require, in addition to all applicable requirements of the Articles, the presence of at least one BCP Group
Director, and the parties hereto agree not to transact any business at any meeting of Directors except in compliance with this Section 4.5. 

Section 4.6.    Remedies. Without limiting the generality of Section 5.5, each party hereto acknowledges
that a breach or threatened breach by a party of any provision of this Article IV will result in the other parties suffering irreparable harm which cannot be calculated or fully or adequately compensated by recovery of damages alone. Accordingly,
each party agrees that the other parties shall be entitled to interim and permanent injunctive relief, specific performance and other equitable remedies, in addition to any other relief to which it or any other party may become entitled. 

ARTICLE V 

MISCELLANEOUS 

Section 5.1.    Authority; Effect. Each party hereto represents and warrants to and agrees with each other
party that the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized on behalf of such party and do not violate any agreement or other instrument applicable to such party or
by which its assets are bound. This Agreement does not, and shall not be construed to, give rise to 

  
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the creation of a partnership among any of the parties hereto, or to constitute any of such parties members of a joint venture or other association. The Company and its subsidiaries shall be
jointly and severally liable for all obligations of each such party pursuant to this Agreement. 

Section 5.2.    Notices. Any notices, requests, demands and other communications required or permitted in this
Agreement shall be effective if in writing and (i) delivered personally, (ii) sent by facsimile or e-mail, or (iii) sent by overnight courier, in each case, addressed as follows: 

 

					
	 If to the Company to:
	 	
		
		 	 Canada Goose Holdings Inc.

		 	 250 Bowie Avenue

		 	 Toronto, ON, M6E 4Y2

		 	 Attention:
	 	 David Forrest

		 	 Facsimile:
	 	 (416) 780-9854

		 	 E-mail:
	 	 dforrest@canadagoose.com

		
	 If to a BCP Investor, to:
	 	
		
		 	 c/o Bain Capital Partners, LLC

		 	 John Hancock Tower

		 	 200 Clarendon Street

		 	 Boston, Massachusetts 02166

		 	 Attention:
	 	 John Kilgallon

		 	 Facsimile:
	 	 (617) 516-2010

	
	 with a copy (which shall not constitute notice) to:

		
		 	 Ropes & Gray LLP

		 	 Three Embarcadero Center

		 	 San Francisco, CA 94111-4006

		 	 Attention:
	 	 Thomas Holden

		 	 Facsimile:
	 	 (415) 315-2355

		 	 E-mail:
	 	 Thomas.holden@ropesgray.com

		
	 If to a Reiss Investor, to:
	 	
		
		 	 Dani Reiss

c/o Canada Goose Holdings Inc.

		 	 250 Bowie Avenue

		 	 Toronto, ON, M6E 4Y2

		 	 Attention:
	 	 Dani Reiss

		 	 Facsimile:
	 	 (416) 780-9854

		 	 E-mail:
	 	 dreiss@canadagoose.com



  
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 with a copy (which shall not constitute notice) to: 

Torkin Manes LLP 
 151 Yonge
Street, Suite 1500 
 Toronto, ON, M5C 2W7 

Attention:       Jeffrey I. Cohen 

Facsimile:       (888) 812-2562 

E-mail:            jcohen@torkinmanes.com 

Notice to the holder of record of any Registrable Securities shall be deemed to be notice to the holder of such securities for all purposes
hereof. 
 Unless otherwise specified herein, such notices or other communications shall be deemed effective (i) on the date received,
if personally delivered, (ii) on the date received if delivered by facsimile or e-mail on a Business Day, or if not delivered on a Business Day, on the first Business Day thereafter and (iii) two (2)
Business Days after being sent by overnight courier. Each of the parties hereto shall be entitled to specify a different address by giving notice as aforesaid to each of the other parties hereto. 

Section 5.3.    Termination and Effect of Termination. This Agreement shall terminate upon the later of
(i) the date on which no Holder holds any Registrable Securities, and (ii) the date on which both Shareholder Groups cease to have any right to designate any Director under this Agreement pursuant to the terms of Section 4.1.2; except
for the provisions of Sections 3.9 and 3.10, which shall survive any such termination. No termination under this Agreement shall relieve any Person of liability for breach or Registration Expenses incurred prior to termination. In the event
this Agreement is terminated, each Person entitled to indemnification rights pursuant to Section 3.9 hereof shall retain such indemnification rights with respect to any matter that (i) may be an indemnified liability thereunder and
(ii) occurred prior to such termination. 
 Section 5.4.    Permitted Transferees. The rights of a
Holder hereunder may be assigned (but only with all related obligations as set forth below) in connection with a Transfer of Registrable Securities to a Permitted Transferee of that Holder. Without prejudice to any other or similar conditions
imposed hereunder with respect to any such Transfer, no assignment permitted under the terms of this Section 5.4 will be effective unless the Permitted Transferee to which the assignment is being made, if not a Holder, has delivered to the
Company a written acknowledgment and agreement in form and substance reasonably satisfactory to the Company that the Permitted Transferee will be bound by, and will be a party to, this Agreement. A Permitted Transferee to whom rights are transferred
pursuant to this Section 5.4 may not again transfer those rights to any other Permitted Transferee, other than as provided in this Section 5.4. 

Section 5.5.    Remedies. The parties to this Agreement shall have all remedies available at law, in
equity or otherwise in the event of any breach or violation of this Agreement or any default hereunder. The parties acknowledge and agree that in the event of any breach of this Agreement, in addition to any other remedies that may be available,
each of the parties hereto shall be entitled to specific performance of the obligations of the other parties hereto and, in addition, to such other equitable remedies (including preliminary or temporary relief) as may be appropriate in the
circumstances. No delay of or omission in the exercise of any right, power or 

  
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remedy accruing to any party as a result of any breach or default by any other party under this Agreement shall impair any such right, power or remedy, nor shall it be construed as a waiver of or
acquiescence in any such breach or default, or of any similar breach or default occurring later; nor shall any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or
after that waiver. 
 Section 5.6.    Amendments. This Agreement may not be orally amended, modified,
extended or terminated, nor shall any oral waiver of any of its terms be effective. This Agreement may be amended, modified, extended or terminated, and the provisions hereof may be waived, only by an agreement in writing signed by each of the
Company, the BCP Investors and the Reiss Investors. Each such amendment, modification, extension or termination shall be binding upon each party hereto. In addition, each party hereto may waive any right hereunder by an instrument in writing signed
by such party. 
 Section 5.7.    Governing Law. This Agreement and all claims arising out of or based upon
this Agreement or relating to the subject matter hereof shall be governed by and construed in accordance with the domestic substantive laws of the State of New York without giving effect to any choice or conflict of laws provision or rule that would
cause the application of the domestic substantive laws of any other jurisdiction. 
 Section 5.8.    Consent to
Jurisdiction. Each party to this Agreement, by its execution hereof, (i) hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the State of New York for the purpose of any action, claim, cause
of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof, (ii) hereby waives to the extent not prohibited by applicable law,
and agrees not to assert, and agrees not to allow any of its subsidiaries to assert, by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its
property is exempt or immune from attachment or execution, that any such proceeding brought in one of the above-named courts is improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and
(iii) hereby agrees not to commence or maintain any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter
hereof or thereof other than before one of the above-named courts nor to make any motion or take any other action seeking or intending to cause the transfer or removal of any such action, claim, cause of action or suit (in contract, tort or
otherwise), inquiry, proceeding or investigation to any court other than one of the above-named courts whether on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a
party in any litigation in connection with which it may assert indemnification rights set forth in this Agreement, the court in which such litigation is being heard shall be deemed to be included in clause (i) above. Notwithstanding the
foregoing, any party to this Agreement may commence and maintain an action to enforce a judgment of any of the above-named courts in any court of competent jurisdiction. Each party hereto hereby consents to service of process in any such proceeding
in any manner permitted by New York law, and agrees that service of process by registered or certified mail, return receipt requested, at its address specified pursuant to Section 5.2 hereof is reasonably calculated to give actual notice. 

  
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 Section 5.9.    WAIVER OF JURY TRIAL. TO THE EXTENT NOT
PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION,
CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS
CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 5.9 CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND
WILL RELY IN ENTERING INTO THIS AGREEMENT. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 5.9 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 

Section 5.10.    Merger; Binding Effect, Etc. This Agreement constitutes the entire agreement of the parties
with respect to its subject matter, supersedes all prior or contemporaneous oral or written agreements or discussions with respect to such subject matter, and shall be binding upon and inure to the benefit of the parties hereto and thereto and their
respective heirs, representatives, successors and permitted assigns. Except as otherwise expressly provided herein, no Holder or other party hereto may assign any of its respective rights or delegate any of its respective obligations under this
Agreement without the prior written consent of the other parties hereto, and any attempted assignment or delegation in violation of the foregoing shall be null and void. 

Section 5.11.    Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be
deemed an original, but all of which taken together shall constitute one instrument. 

Section 5.12.    Severability. In the event that any provision hereof would, under applicable law, be invalid
or unenforceable in any respect, such provision shall be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. The provisions hereof are severable, and in
the event any provision hereof should be held invalid or unenforceable in any respect, it shall not invalidate, render unenforceable or otherwise affect any other provision hereof. 

Section 5.13.    No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, the
Company and each Holder covenant, agree and acknowledge that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement shall be had against any current or future director, officer, employee, general
or limited partner or member of any Holder or of any Affiliate or assignee thereof, as such, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it
being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of any Holder or any current or future member of


  
 - 38 - 








 
any Holder or any current or future director, officer, employee, partner or member of any Holder or of any Affiliate or assignee thereof, as such, for any obligation of any Holder under this
Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation. 

[Signature pages follow] 

  
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 IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement as of the
date first above written. 
  

									
	Company:	 		 	CANADA GOOSE HOLDINGS INC.
				
		 		 	By:	 	 /s/ Dani Reiss

		 		 		 	Name:	 	Dani Reiss
		 		 		 	Title:	 	President and Chief Executive Officer
				
		 		 	By:	 	 /s/ John Black

		 		 		 	Name:	 	John Black
		 		 		 	Title:	 	Chief Financial Officer
			
	Holders:	 		 	DTR LLC
				
		 		 	By:	 	 /s/ Dani Reiss

		 		 		 	Name:	 	Dani Reiss
		 		 		 	Title:	 	Chief Executive Officer and Secretary
			
		 		 	BRENT (BC) PARTICIPATION S.À R.L.
				
		 		 	By:	 	 /s/ Vishal Jugdeb

		 		 		 	Name:	 	Vishal Jugdeb
		 		 		 	Title:	 	Manager
				
		 		 	By:	 	 /s/ Vladimir Mornard

		 		 		 	Name:	 	Vladimir Mornard
		 		 		 	Title:	 	Manager


  
 [Signature Page to
Investor Rights Agreement]