# EDGAR Filing Document

**Accession Number:** 0000718940
**File Stem:** 0001193125-26-044726
**Filing Date:** 2026-2
**Character Count:** 129078
**Document Hash:** a533045f72920bba14a2b95bff11f1c4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-044726.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001193125-26-044726

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**EFFECTIVENESS DATE**: 20260210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BCE INC
- **CENTRAL INDEX KEY:** 0000718940
- **STANDARD INDUSTRIAL CLASSIFICATION:** TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293345
- **FILM NUMBER:** 26616187

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 1 CARREFOUR ALEXANDER-GRAHAM-BELL
- **CITY:** VERDUN
- **PROVINCE COUNTRY:** A8
- **ZIP:** H3E 3B3
- **BUSINESS PHONE:** 514-786-8424

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 1 CARREFOUR ALEXANDER-GRAHAM-BELL
- **CITY:** VERDUN
- **PROVINCE COUNTRY:** A8
- **ZIP:** H3E 3B3

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BELL CANADA ENTERPRISES INC
- **DATE OF NAME CHANGE:** 19880111

**As filed with the Securities and Exchange Commission on February 10, 2026** 

**Registration No. 333 -** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, D.C. 20549** 

**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

## BCE Inc.
**(Exact name of Registrant as specified in its charter)** 

---

| | |
|:---|:---|
| **Canada** | **98-0134477** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

**1, carrefour Alexander-Graham-Bell** 

**Building A, 7th Floor** 

**Verdun, Québec** 

**Canada H3E 3B3** 

**(Address, including zip code, of principal executive offices)** 

**BCE Inc. Share Unit Plan for Senior Executives and Other Key Employees (1997)** 

**Amended and Restated BCE Inc. Share Unit Plan for Non-Employee Directors (1997)** 

**BCE Inc. Restricted Share Unit Plan for Executives and Other Key Employees (2004)** 

**(Full title of the Plans)** 

**Puglisi & Associates** 

**850 Library Avenue, Suite 204** 

**Newark, Delaware 19711** 

**(302) 738-6680** 

**(Name, address, and telephone number, including area code, of agent for service)** 

***Copies to:***

---

| | |
|:---|:---|
| **Corporate Secretary**<br> **BCE Inc.**<br> **1, carrefour Alexander-Graham-Bell**<br> **Building A, 7th Floor**<br> **Verdun, Québec**<br> **Canada H3E 3B3** | **Mario Schollmeyer**<br> **Sullivan & Cromwell**<br> **125 Broad Street**<br> **New York, NY 10004<br>(212) 558-4000** |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

------

**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS** 

All information required by Part I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act of 1933, as amended (the "Securities Act"), and the Note to Part I of Form S-8. The documents containing the information specified in Part I will be delivered to the participants in the plan covered by this Registration Statement, as required by Rule 428(b) under the Securities Act.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

The following documents filed with the Securities and Exchange Commission (the "Commission") by BCE Inc.(the "Registrant" or "BCE") pursuant to the Securities Exchange Act of 1934, as amended ("Exchange Act"), (Commission file No. 001-8481) are incorporated by reference herein:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) BCE's Annual Report on [Form 40-F](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/718940/000119312525049950/d899242d40f.htm) for the fiscal year ended December 31, 2024 (the "Form 40-F"), filed with the Commission on March 7, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) BCE's unaudited consolidated financial statements for the quarter ended March 31, 2025 and the
related Management's Discussion and Analysis dated May 7, 2025, included in BCE's [Form 6-K](http://www.sec.gov/Archives/edgar/data/718940/000071894025000006/bceform6-kx03312025.htm) dated May 8, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) BCE's unaudited consolidated financial statements for the quarter ended June 30, 2025 and the
related Management's Discussion and Analysis dated August 6, 2025, included in BCE's [Form 6-K](http://www.sec.gov/Archives/edgar/data/718940/000071894025000011/bceform6-kx06302025.htm) dated August 7, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) BCE's unaudited consolidated financial statements for the quarter ended September 30, 2025 and
the related Management's Discussion and Analysis dated November 
5, 2025, included in BCE's [Form 6-K](http://www.sec.gov/Archives/edgar/data/718940/000071894025000019/bceform6-kx09302025.htm) dated November 6, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The description of BCE's common shares contained under the heading "BCE securities" in [Exhibit 99.1](http://www.sec.gov/Archives/edgar/data/718940/000119312525049950/d899242dex991.htm) to the Form 40-F, including any amendment or report filed for the purpose of updating such description; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the
fiscal year covered by the Registrant's Annual Report referred to in (a) above.

All documents filed by BCE pursuant to Sections 13(a), 13(c) or 15(d) of the Exchange Act and, to the extent designated therein, certain Reports on Form 6-K furnished by BCE after the date of this Registration Statement and prior to the termination of this offering of common shares shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing or furnishing such documents.

Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof to the extent that a statement contained herein or in any other subsequently filed document which is also incorporated or deemed to be incorporated herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

------

**Item 4. Description of Securities.** 

Not applicable.

**Item 5. Interests of Named Experts and Counsel.** 

Not applicable.

**Item 6. Indemnification of Directors and Officers.** 

The directors of BCE Inc., adopted on May 27, 2003 a resolution providing as follows:

"Section 8 — INDEMNIFICATION OF DIRECTORS AND OFFICERS AND OTHER INDIVIDUALS

Subject to the limitations contained in the Canada Business Corporations Act ("CBCA") but without limit to the right of the Corporation to indemnify any person under the CBCA or otherwise, the Corporation shall indemnify a Director or Officer, a former Director or Officer or another individual who acts or acted at the Corporation's request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of that association with the Corporation or other entity if (a) such individual acted honestly and in good faith with a view to the best interests of the Corporation, or, as the case may be, to the best interests of the other entity for which the individual acted as director or officer or in a similar capacity at the Corporation's request; and (b) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, such individual had reasonable grounds for believing that such individual's conduct was lawful. The Corporation shall advance moneys to the Director, Officer or other individual for the costs, charges and expenses of a proceeding referred to herein providing that the individual shall repay the moneys if the individual does not fulfill the conditions of subsection 124(3) of the CBCA."

This resolution represents, in general terms, the extent to which directors and officers may be indemnified by BCE under the CBCA, the governing Act to which BCE is subject. Except in the case of an action taken by BCE or of a derivative action taken by a shareholder on behalf of BCE, as provided below, the CBCA provides that a director or officer may be indemnified by BCE against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by such individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the director or officer is involved because of that association with BCE if (i) such individual acted honestly and in good faith with a view to the best interests of BCE; and (ii) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, such individual had reasonable grounds for believing that the individual's conduct was lawful. The right of indemnification is more limited where directors or officers are sued by BCE or on its behalf by a shareholder. In those cases, BCE may, with the approval of a court, indemnify directors and officers against all costs, charges and expenses reasonably incurred by the individual in connection with such action, but not the amount of the judgment or settlement of an action, provided the individual fulfills the conditions of (i) and (ii) above. A director or officer must be indemnified for costs, charges and expenses if he was not judged by the court or other competent authority to have committed any fault or omitted to do anything that such director or officer ought to have done and fulfils the conditions of (i) and (ii) above. BCE may advance moneys to a director or officer for the costs, charges and expenses referred to above, provided that such director or officer shall repay the moneys if the individual does not fulfil the conditions of (i) and (ii) above.

The directors and officers of BCE are covered by a directors' and officers' liability insurance policy indemnifying, subject to its terms and conditions, against certain civil liabilities which might be incurred by them in such capacities.

------

In addition, each director and certain officers of BCE are covered by corporate indemnification agreements with BCE generally providing for indemnification of such person for liabilities incurred in connection with his or her service as a director or officer and obliging BCE to maintain liability insurance to support their indemnification obligations under such agreement.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling BCE pursuant to the foregoing provisions, BCE has been informed that in the opinion of the U.S. Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 7. Exemption From Registration Claimed.** 

Not applicable.

**Item 8. Exhibits.** 

The exhibits that are filed with or incorporated by reference into this Registration Statement are set out in the exhibit index below.

**Item 8. Undertakings.** 

The Registrant hereby undertakes (1) to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement to include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement; (2) that, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and (3) to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

------

**EXHIBIT INDEX** 

---

| | |
|:---|:---|
| **Exhibit<br>Number** | **Exhibit Description** |
| 4.1 | [BCE Inc. Share Unit Plan for Senior Executives and Other Key Employees (1997)\*](d63126dex41.htm) |
| 4.2 | [Amended and Restated BCE Inc. Share Unit Plan for Non-Employee Directors (1997)\*](d63126dex42.htm) |
| 4.3 | [BCE Inc. Restricted Share Unit Plan for Executives and Other Key Employees (2004)\*](d63126dex43.htm) |
| 23.1 | [Consent of Deloitte LLP\*](d63126dex231.htm) |
| 24.1 | [Power of Attorney (included in the signature pages of the Registration Statement)\*](#tx63126_sig) |
| 107 | [Calculation of Filing Fee Table\*](d63126dexfilingfees.htm) |

---

\* Filed herewith.

Pursuant to Item 8(a)(1) of Form S-8, no opinion of counsel as to the legality of the common shares of BCE registered with respect to the plans covered by this Registration Statement is furnished because no original issuance securities are being registered.

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Montréal, Province of Quebec, Canada, on this 10th day of February, 2026.

---

| | |
|:---|:---|
| BCE INC. | BCE INC. |
| By: | /s/ Mirko Bibic |
| Name: | Mirko Bibic |
| Title: | President and Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities indicated below the dates indicated:

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Mirko Bibic<br> Mirko Bibic | President and Chief Executive Officer, and Director<br>(Principal Executive Officer) | February 10, 2026 |
| /s/ Curtis Millen<br> Curtis Millen | Executive Vice-President and Chief Financial Officer<br>(Principal Financial Officer) | February 10, 2026 |
| /s/ Thierry Chaumont<br> Thierry Chaumont | Senior Vice-President,<br>Controller and Tax<br>(Principal Accounting Officer) | February 10, 2026 |

---

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**POWERS OF ATTORNEY** 

KNOW ALL PERSONS BY THESE PRESENTS that each person whose signature appears below constitutes and appoints each of Mirko Bibic, Curtis Millen, Robert Malcolmson, Krishna Somers and Melanie Schweizer as his or her true and lawful attorneys-in-fact and agents, each acting alone, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to do any and all things and execute any and all instruments that such attorney may deem necessary or advisable under the Securities Act, and any rules, regulations and requirements of the Commission thereunder, in connection with the registration under the Securities Act of common shares of BCE to be offered under the BCE Inc. Share Unit Plan for Senior Executives and Other Key Employees (1997), the Amended and Restated BCE Inc. Share Unit Plan for Non-Employee Directors (1997) and the BCE Inc. Restricted Share Unit Plan for Executives and Other Key Employees (2004), including specifically, but without limiting the generality of the foregoing, the power and authority to sign his or her name, in his or her capacity as a member of the Board of Directors of the Registrant, on any and all amendments, including post-effective amendments, to such registration statement and on any and all instruments and documents filed as part of or in connection with such registration statement and any and all amendments thereto, including post-effective amendments.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated below the dates indicated:

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| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Gordon M. Nixon<br> Gordon M. Nixon | Chairman and Director | February 10, 2026 |
| /s/ Mirko Bibic<br> Mirko Bibic | Director | February 10, 2026 |
| /s/ Robert P. Dexter<br> Robert P. Dexter | Director | February 10, 2026 |
| /s/ Katherine Lee<br> Katherine Lee | Director | February 10, 2026 |
| /s/ Monique F. Leroux<br> Monique F. Leroux | Director | February 10, 2026 |
| /s/ Sheila A. Murray<br> Sheila A. Murray | Director | February 10, 2026 |
| /s/ Louis P. Pagnutti<br> Louis P. Pagnutti | Director | February 10, 2026 |
| /s/ Calin Rovinescu<br> Calin Rovinescu | Director | February 10, 2026 |
| /s/ Karen Sheriff<br> Karen Sheriff | Director | February 10, 2026 |

---

------

---

| | | |
|:---|:---|:---|
| /s/ Jennifer Tory<br> Jennifer Tory | Director | February 10, 2026 |
| /s/ Louis Vachon<br> Louis Vachon | Director | February 10, 2026 |
| /s/ Johan Wibergh<br> Johan Wibergh | Director | February 10, 2026 |
| /s/ Cornell Wright<br> Cornell Wright | Director | February 10, 2026 |
| /s/ Steve Weed<br> Steve Weed | Director | February 10, 2026 |

---

------

**AUTHORIZED REPRESENTATIVE** 

Pursuant to the requirements of Section 6(a) of the Securities Act, the undersigned has signed this Registration Statement, solely in the capacity of the duly authorized representative of BCE Inc. in the United States, in the City of Newark, State of Delaware on this 10th day of February, 2026.

---

| | |
|:---|:---|
| Puglisi & Associates | Puglisi & Associates |
| (Authorized U.S. Representative) | (Authorized U.S. Representative) |
| By: | /s/ Donald Puglisi |
| Name: | Donald Puglisi |
| Title: | Authorized Representative |

---

## Exhibit 4.1

**Exhibit 4.1** 

**<u>THE BCE INC. SHARE UNIT PLAN</u>**

**<u>FOR SENIOR EXECUTIVES AND OTHER KEY EMPLOYEES (1997)<sup>1</sup></u>**

**Section 1. Purpose** 

The purpose of The BCE Inc. Share Unit Plan for Senior Executives and Other Key Employees (1997) (the "Plan") is to encourage the achievement of the Corporation's objectives by the senior executives and other Key Employees of the Corporation and its Subsidiaries and to promote a greater alignment of interests between such senior executives and other Key Employees and the shareholders of the Corporation.

**Section 2. Definitions** 

For the purposes of the Plan:

(a) "Aggregate Purchase Price" has the meaning assigned thereto in Section 9 hereof;

(b) "Agreement" means the agreement, as it may be amended from time to time, entered into by the
Corporation and an Eligible Key Employee pursuant to Section 6 hereof in connection with the grant of an award of Share Units hereunder to said Eligible Key Employee and setting forth the related rights and obligations of the Corporation and of
the Eligible Key Employee;

(c) "Annual Short-Term Incentive Program" means the program of the Corporation or of a Subsidiary
pursuant to which annual cash bonuses may be awarded to Key Employees, including any advances or mid-year payouts which may be paid under such program;

(d) "Award Period" has the meaning assigned thereto in Section 5 hereof;

(e) "Board" means the Board of Directors of BCE Inc.;

(f) "Bonus Amount" has the meaning assigned thereto in Section 7 hereof;

<sup>1</sup> This is a consolidated version of the Plan, as adopted further to Resolution no.5 of the Board of directors meeting of January 27, 1997 and as subsequently amended on November 24, 1999, (Resolution no. 5) and July 25, 2001 (Resolution no. 2), (the "2001 Amendment") and the re-insertion, (with the necessary adjustments in the context of the 2001 Amendment), of a part of Section 7 of the Plan which was inadvertently omitted in (restating) and amending such Section 7 by way of paragraph 6 of the 2001 Amendment and as subsequently amended on December 30, 2008, on November 4, 2010, Agust 4, 2011, August 8, 2013. The conditional amendments approved by the BCE Board on May 3, 2006 (Resolution 5) related to the consolidation and distribution stemming from the creation of the Bell Aliant Regional Communications Income Fund are not reflected since a subsequent CRA Ruling Request approved in summer of 2006 provided for adjustments to be made out of the Plan. BCE DSU Plan Text - Executives (January 2016).DOC 

------

(g) "Cessation of Employment" means any cessation of the employer/employee relationship between the
Corporation and its employee, or any Subsidiary of the Corporation and its employee, including termination of employment by the employer (whether or not for cause), voluntary resignation, retirement from active employment, permanent disability,
death or termination of employment for any other reason, provided that a transfer of an employee to a direct or indirect Subsidiary (or from such a Subsidiary to the Corporation or another such Subsidiary) approved by the Corporation for such
purpose, or a leave of absence of an employee approved by the Corporation for such purpose up to a maximum period of three years, shall not be considered Cessation of Employment; however, there will be a Cessation of Employment with respect to an
employee of a Subsidiary where such a Subsidiary ceases to be a Subsidiary;

(h) "Change in Control" means the acquisition by any person or group of persons of: (i) more
than fifty percent (50%) of all the voting rights attached to the voting securities of the Corporation, or (ii) the power, whether direct or indirect, to direct or cause the direction of the management and policies of the Corporation, whether
through the ownership of voting securities, by contract and/or otherwise, but, in any event, shall include a "Change of Control" as such term is defined in the BCE Inc. Long-Term Incentive (Stock Option) Program (1985) (the "Stock
Option Plan"), and, with respect to any Participant who is principally employed in the business of a "Designated Business Unit", as such term is defined in the Stock Option Plan, shall include a Business Unit Change of Control as
such term is defined in the Stock Option Plan;

(i) "Committee" means the committee of directors of the Corporation generally responsible for
compensation related matters and which, at the time of adoption of the Plan, is named the Management Resources and Nominating Committee;

(j) "Common Share" means a common share without nominal or par value of the Corporation;

(k) "Corporation" means BCE Inc.;

(l) "Designated Broker" has the meaning assigned thereto in Section 9 hereof;

(m) "Dollar Amount" has the meaning assigned thereto in Section 7 hereof;

(n) "Effective Date" has the meaning assigned thereto in Section 6 hereof;

(o) "Election Expiry Date" has the meaning assigned thereto in Section 5 thereof;

(p) "Eligible Key Employee" has the meaning assigned thereto in Section 4 hereof;

(q) "Entitlement Date" has the meaning assigned thereto in Section 9 hereof;

(r) "Key Employee" includes the officers or other employees of the Corporation or of any Subsidiary
of the Corporation who, in the opinion of the Committee, have demonstrated a capacity for contributing in a substantial measure to the successful performance of the Corporation or of such Subsidiary;

------

(s) "Market Value" on any particular day means the market value of one Common Share and shall be
calculated on the basis of the closing price for a board lot of Common Shares on the Toronto Stock Exchange on that day, or if at least one board lot of Common Shares shall not have been traded on the Toronto Stock Exchange on that day, on the
immediately preceding day for which at least one board lot was so traded; or if, at any time, the Common Shares are no longer listed on the Toronto Stock Exchange, then the Market Value shall be calculated on the basis of the closing price, on the
aforesaid day, for a board lot of Common Shares on the stock exchange on which the Common Shares are listed and had the greatest volume of trading on that particular day;

(t) "Participant" means an Eligible Key Employee who has been granted Share Units under the Plan;

(u) "Participation Level" has the meaning assigned thereto in Section 5 hereof;

(v) "Plan" means The BCE Inc. Share Unit Plan for Senior Executives and Other Key Employees (1997),
as amended from time to time;

(w) "Price per Common Share" has the meaning assigned thereto in Section 9 hereof;

(x) "Restricted Share Program" means the program of the Corporation under which restricted Common
Shares may be awarded to certain Key Employees of the Corporation;

(y) "Share Unit" means a unit credited by means of a bookkeeping entry on the books of the
Corporation to a Participant's account in accordance with the terms and conditions of the Plan;

(z) "Subsidiary" means any corporation a majority of whose shares normally entitled to vote in
electing directors is owned directly or indirectly by the Corporation; and

(aa) "Trustee" shall mean the trustee under the trust agreement entered into pursuant to
Section 13 hereof.

**Section 3. Administration of the Plan** 

Subject to Sections 5, 6 and 12 hereof, the Plan shall be administered by the Committee, the whole subject to applicable corporate and securities law requirements. The Committee shall have full and complete authority to interpret the Plan, to prescribe such rules and regulations (including those with respect to the holding of meetings by telephone) and to make such other determinations as it deems necessary or desirable for the administration of the Plan. The Committee may, in its discretion, delegate such of its powers, rights and duties under the Plan in respect of the execution of any Agreement to be entered into between a Participant and the Corporation, in whole or in part, to such officer or officers of the Corporation as it may determine. All actions taken and decisions made by the Committee shall be final, conclusive and binding on all parties concerned, including, but not limited to, a Participant and such Participant's beneficiaries and legal representatives, the Corporation and its Subsidiaries, their employees and shareholders. All expenses of administration of the Plan shall be borne by the Corporation, including any reasonable brokerage fees relating to the purchase of Common Shares under the Plan.

------

**Section 4. Eligibility** 

The Committee shall, from time to time, determine which Key Employees shall be eligible to be granted Share Units under the Plan ("Eligible Key Employees").

**Section 5. Election** 

The Committee, in its absolute discretion, shall determine in respect of each calendar year the particular period or periods for the Corporation and any of its Subsidiaries in respect of which Share Units may be awarded to Eligible Key Employees under Section 6 hereof (an "Award Period"). Unless otherwise determined by the Committee, the Award Period of the Corporation and any of its Subsidiaries shall be the period commencing on January 1 and ending on December 31. An Eligible Key Employee may, with respect to any particular Award Period, elect to participate in the Plan. In order to elect to participate in the Plan in respect of any particular Award Period, an Eligible Key Employee shall complete and deliver to the Corporation a written election on or before: (i) the date that is the second to last business day of the particular Award Period if the election relates to the Annual Short-Term Incentive Program, or, otherwise, (ii) a date prior to the date of the grant (each the "Election Expiry Date"), which election shall specify, in percentage form (the "Participation Level"), the extent to which such Eligible Key Employees elects to participate in the Plan for that Award Period. Such election may be revoked or modified if written notification of such revocation or modification is received before the Election Expiry Date. The Committee may, in its absolute discretion, change the election date and process.

Notwithstanding the foregoing, but subject to confirmation by the Board, the Committee may, in its sole discretion, with respect to any particular Award Period, require one or more Eligible Key Employees, or one or more classes of Eligible Key Employees, to participate in the Plan even if such Eligible Key Employee(s) has not or have not elected to participate in the Plan. The Committee shall then establish the Participation Level of such Eligible Key Employee(s).

An Eligible Key Employee who elects or is required, under this Section 5, to participate in the Plan with respect to any particular Award Period shall be eligible to participate, with respect to that particular Award Period, with respect to any incentive amount, such as, but not limited to, discretionary amount awarded by the Committee, or the Annual Short-Term Incentive Program to the extent that the amount actually payable to such Eligible Key Employee under such programs for the particular Award Period does not exceed the product obtained by multiplying X and Y, where X is the result obtained by subtracting from one (1) the Participation Level and Y is equal to the Bonus Amount, as defined in Section 7 hereof. An Eligible Key Employee who elects, or is required, under this Section 5, to participate in the Plan with respect to any particular calendar year shall not be eligible to participate with respect to the same calendar year, in the Restricted Share Program.

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**Section 6. Grant of Awards** 

Subject to confirmation by the Board, and in addition to the Eligible Key Employees, if any, whom it shall have required, pursuant to Section 5 hereof, to participate in the Plan, the Committee shall, from time to time, choose from among Eligible Key Employees who shall have elected, under Section 5 hereof, to participate in the Plan, those to whom it recommends that Share Units be awarded and determine, in accordance with Section 7 hereof, the number of Share Units which it recommends be awarded to such Eligible Key Employees who shall have elected or shall have been required to participate in the Plan. The Committee shall, subject to confirmation by the Board, recommend the effective date ("Effective Date") of each award of Share Units under the Plan. Each award of Share Units shall be confirmed by an instrument in writing issued by the Corporation to the Participant.

A Participant who shall have been awarded Share Units under the Plan shall enter into an Agreement with the Corporation, with respect to such award of Share Units, which Agreement shall be effective and dated as of the Effective Date of the award. Any Agreement entered into on or after November 24, 1999 in connection with a Share Unit grant may provide that it shall also apply to any future Share Unit grants to the same Participant.

The Committee may subject the Participant's entitlement to payment of Share Units, including at Cessation of Employment, to satisfaction, following the Effective Date, of certain requirements, including a minimum period of employment or attainment of individual or corporate performance objectives or criteria. The Committee shall determine compliance with these requirements.

**Section 7. Computation of Awards** 

In order to compute the number of Share Units to be awarded to an Eligible Key Employee under Section 6 hereof, the Committee shall determine an amount expressed in dollars (the "Dollar Amount") to be assigned to such Eligible Key Employee for the Award Period, which amount shall only be determined after the Election Expiry Date. If an award relates to the Annual Short-Term Incentive Program, the Dollar Amount shall be equal to the product obtained by multiplying the Participation Level and the Bonus Amount. The "Bonus Amount" means an amount that is at least equal to the cash bonus which would, if not for an Eligible Key Employee's participation in the Plan, be awarded to such Eligible Key Employee under the Annual Short-Term Incentive Program for the Award Period. The criteria which shall be used by the Committee to determine an Eligible Key Employee's Bonus Amount shall be similar to those used by the Committee, or committee of the board of directors of a Subsidiary to determine the amount of cash bonuses awarded under the Annual Short-Term Incentive Program. The number of Share Units (including fractional Share Units) to be awarded to an Eligible Key Employee under the Plan and credited to his or her account with respect to any particular Award Period shall be equal to the quotient obtained by dividing: (a) the Dollar Amount, by (b) the Market Value of a Common Share on the last trading day prior to the Effective Date. Subject to the Committee's discretion to make an award of Share Units, if an Eligible Key Employee made an election to be paid restricted share units under the *BCE Inc. Restricted Share Unit Plan for Executives and Other Key Employees (2004)* (the "RSU Plan") in Share Units under the Plan or to receive Share Units under the Plan instead of restricted share units under the RSU Plan, the award shall be the gross number of Share Units so elected on a one for one basis (before any applicable withholding taxes and other source deductions required by law to be withheld by the Corporation) .

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**Section 8. Dividendlike Amounts** 

A Participant's account shall, from time to time during the term of the Participant's Agreement(s), including the period following the Participant's Cessation of Employment and until the Entitlement Date referred to in Section 9 hereof, be credited with additional Share Units, the number of which shall be equal to the quotient determined by dividing: (i) the product determined by multiplying: (a) one hundred percent (100%) of the amount of each dividend declared and paid by the Corporation on its Common Shares, on a per share basis (excluding stock dividends, but including dividends which may be paid in cash or in shares at the option of the shareholder), by (b) the number of Share Units recorded in the Participant's account on the record date for the payment of such dividend, including any Share Units that remain subject to vesting requirements, by (ii) the Market Value of a Common Share on the payment date of such dividend, with fractions computed to four decimal places.

**Section 9. Payment of Share Units** 

No later than the last day of the first calendar year commencing after the year in which the date of Cessation of Employment of a Participant has occurred, the Participant shall receive, in satisfaction of the number of Share Units recorded in the Participant's account on the date specified in the Agreement(s) (the "Entitlement Date"), a number of Common Shares to be purchased on the open market equal to the number of Share Units then recorded in the account of the Participant, as may be reduced if any requirements to which an award is subject, as set out in Section 6 is not complied with or as may be adjusted pursuant to Section 19 hereof, and reduced by any applicable withholding taxes and other source deductions, reflected in the form of Share Units, required by law to be withheld by the Corporation in connection with the total payments made in satisfaction of the Participant's Share Units.

In the event that a Participant's Cessation of Employment shall occur within ninety (90) days following a Change in Control of the Corporation, then, and notwithstanding any other provision of the Plan and notwithstanding that an Entitlement Date shall have previously been set out in the Participant's Agreement(s), the Entitlement Date shall be the fifth trading day following the date of Cessation of Employment of the Participant. Should the Entitlement Date fall during the last month of the first calendar year commencing after the year in which the date of Cessation of Employment has occurred, the Entitlement Date shall be December 1 of that year for all purposes. If the Entitlement Date would otherwise fall between the record date for a dividend on the Common Shares and the related dividend payment date, the Entitlement Date shall be the day immediately following the date of payment of such dividend for purposes of recording in the account of the Participant amounts referred to in Section 8 hereof and making the calculation of Share Units contemplated by this Section 9. In the event that the Corporation is unable, by a Participant's Entitlement Date, to compute the final number of Share Units credited to such Participant's account by reason of the fact that any data required in order to compute the Market Value of a Common Share has not been made available to the Corporation, then the Entitlement Date shall be the next following trading day on which such data is made available to the Corporation.

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Prior to 11:00 a.m. on the Entitlement Date, the Corporation shall notify the Trustee as to the number of Common Shares to be purchased on behalf of the Participants on the open market. As soon as practicable thereafter, the Trustee shall cause the purchase on the open market of the number of Common Shares requested by the Corporation and notify, or cause the notification to, the Participants and the Corporation of: a) the aggregate purchase price ("Aggregate Purchase Price") of the Common Shares, b) the purchase price per Common Share or, if the Common Shares were purchased at different prices, the average purchase price (computed on a weighted average basis) per Common Share ("Price per Common Share"), c) the amount of any related reasonable brokerage commission, and d) the settlement date for the purchase of the Common Shares. On the settlement date, upon payment of the Aggregate Purchase Price and related reasonable brokerage commission by the Corporation, the Trustee shall deliver, or cause to be delivered, to the Participant or to his Designated Broker the certificate representing the Common Shares. For purposes of delivery of Common Shares, a Participant may designate a broker to which the certificate representing such Common Shares shall be delivered (the "Designated Broker"). The Trustee may deliver the Common Shares through electronic means available for the secure transmission of securities. Any such designation may be changed from time to time by the Participant. Any entitlement to fractional Share Units shall be paid in cash based on the Price per Common Share.

In cases of Participants who are citizens or residents of a country other than Canada, the Corporation shall have the right, in its sole discretion, to pay entirely in cash the value, as computed under the Plan, of a Participant's Share Unit entitlement (less any applicable withholdings), should it deem the regulatory or other requirements of the applicable foreign jurisdiction associated with the purchase of, or payment in, Common Shares too onerous to it or to the Participant.

**Section 10. Participant's Account** 

The Corporation shall maintain in its books an account for each Plan Participant recording at all times the number of Share Units standing to the credit of the Participant. Upon payment in satisfaction of Share Units, such Share Units shall be cancelled. A written confirmation of the balance in the account shall be mailed by the Corporation to the Participant at least annually.

**Section 11. Effective Date of the Plan** 

The effective date of the Plan shall be January 27, 1997.

**Section 12. Amendments to, Suspension or Termination of, the Plan** 

The Board may from time to time amend, suspend or terminate the Plan in whole or in part. However, any such amendment, suspension or termination shall not adversely affect the rights of any Participant under any Agreement existing at the time of such amendment, suspension or termination without the consent of the affected Participant.

If the Board terminates the Plan, prior awards of Share Units shall, at the discretion of the Board, either (a) become immediately payable in accordance with the terms of the Plan in effect at such time, or (b) remain outstanding and in effect and paid in due course in accordance with their applicable terms and conditions.

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**Section 13. Purchases on the Open Market** 

The Corporation shall enter into a trust agreement with such trust company as may be designated from time to time by the Corporation to act as trustee for Participants in respect of purchase of Common Shares on behalf such Participants in accordance with the terms of the Plan. The Trustee shall be independent from the Corporation.

Purchases of Common Shares pursuant to the Plan shall be made on the open market by the Trustee or by a registered broker independent from the Corporation designated by the Trustee and who is a member of the Toronto Stock Exchange. Any such designation may be changed from time to time by the Trustee.

The Share Units, and any related Common Shares, that may be awarded under the Plan have not been registered under the U.S. Securities Act of 1933 as of the effective date of the Plan and the Corporation has no obligation to register such units or shares. The said Common Shares may not be offered or sold in the United States unless registered or an exemption from registration is available.

**Section 14. Rights of Participants** 

Except as specifically set out in the Plan or an Agreement, no Eligible Key Employee, Participant or other person shall have any claim or right to any Common Shares deliverable in payment of Share Units granted pursuant to the Plan.

Neither the Plan nor any award thereunder shall be construed as granting a Participant a right to be retained as an employee of the Corporation or of any of its Subsidiaries or a claim or right to any future grants of Share Units. Neither the Plan nor any action taken thereunder shall interfere with the right of the employer of an Eligible Key Employee or a Participant to terminate the employment of such Eligible Key Employee or Participant at any time. The payment of any sum of money in cash in lieu of notice of the termination of employment shall not be considered as extending the period of employment for the purposes of the Plan.

Under no circumstances shall Share Units be considered Common Shares nor shall they entitle any Participant to exercise voting rights or any other rights attaching to the ownership of the Common Shares, nor shall any Participant be considered the owner of the Common Shares until after the date of the purchase of such Common Shares on the open market.

**Section 15. Death of Participant** 

In the event of a Participant's death, the Participant's estate shall receive, in satisfaction of all the number of Share Units recorded in the Participant's account on such date, either, at the Participant's estate discretion (i) a cash equivalent value; (ii) a number of Common Shares to be purchased on the open market; or (iii) a combination of both; any of such alternatives being equal to the number of Share Units then recorded in the account of the Participant, as may be reduced if any requirements to which an award is subject, as set out in Section 6 is not complied with or as may be adjusted pursuant to Section 19 hereof, reduced by any applicable withholding taxes and other source deductions required by law to be withheld by the Corporation in connection with the total payments made in satisfaction of the Participant's Share Units. The Participant's estate must determine the Entitlement Date in an election form to be provided by the Corporation to the Participant's estate, within a reasonable period of time following receipt of such election form.

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Notwithstanding the foregoing, the Committee may, in its sole discretion, with respect to a payment of Share Units to a Participant's estate, require that a portion or all of a Participant's Share Units be settled in Common Shares, even if the Participant's estate has made an election to receive a cash equivalent value. Further to Section 3 hereof, the Committee may delegate to such officer or officers of the Corporation, as it may determine, the administrative tasks related to the requirement that a portion or all of the Participant's Share Units be settled in Common Shares.

**Section 16. Compliance with Applicable Laws** 

Any obligation of the Corporation with respect to its Common Shares pursuant to the terms of the Plan is subject to compliance with all applicable laws. Should the Corporation, in its sole discretion, determine that it is not feasible to make payment of a Share Unit in Common Shares by reason of any such laws, such obligation shall be satisfied by means of an equivalent cash payment. The Participant shall comply with all such laws and furnish the Corporation with any and all information and undertakings as may be required to ensure compliance therewith.

**Section 17. Withholding Taxes** 

The Corporation shall be entitled to deduct any amount of withholding taxes and other withholdings from any amount paid or credited hereunder.

**Section 18. Transferability** 

In no event may the rights or interests of a Participant under the Plan be assigned, encumbered, pledged, transferred or alienated in any way, except to the extent that certain rights may pass to a beneficiary or legal representative upon death of a Participant, by will or by the laws of succession and distribution.

**Section 19. Alteration of Number of Share Units Subject to the Plan** 

In the event that the Common Shares shall be subdivided or consolidated into a different number of Common Shares, or a dividend shall be declared upon the Common Shares payable in Common Shares (other than a dividend which may be paid in cash or in shares at the option of the shareholder), the number of Share Units then recorded in the Participant's account shall be adjusted by replacing such number by a number equal to the number of Common Shares which would be held by the Participant immediately after the dividend, subdivision or consolidation, should the Participant have held a number of Common Shares equal to the number of Share Units recorded in the Participant's account on the record date fixed for such stock dividend, subdivision or consolidation.

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In the event that the outstanding Common Shares shall be changed into or exchanged for a different number or kind of securities of the Corporation or of another corporation, whether through an arrangement, amalgamation or other similar statutory procedure, or a share recapitalization, then there shall be substituted for each Common Share referred to in the Plan the kind of securities into which each outstanding Common Share shall be so changed or for which each such Common Share shall be exchanged and an equitable adjustment shall be made, if required, in the number of Share Units then recorded in the Participant's account, such adjustment, if any, to be reasonably determined by the Committee and to be effective and binding for all purposes.

In the event there shall be any change, other than as specified above in this section, in the number or kind of outstanding Common Shares or of any securities into which such Common Shares shall have been changed or for which it shall have been exchanged, then there shall be substituted for each Common Share referred to in the Plan or for each security into which such Common Shares shall have been so changed or exchanged, the kind of securities into which each outstanding Common Share or each such security shall be so changed or exchanged and an equitable adjustment shall be made, if required, in the number of Share Units then recorded in the Participant's account such adjustment, if any, to be reasonably determined by the Committee and to be effective and binding for all purposes.

In the case of any such substitution, change or adjustment as provided for in this section, the variation shall generally require that the dollar value of the Share Units then recorded in the Participant's account prior to such substitution, change or adjustment will be proportionately and appropriately varied so that it be equal to such dollar value after the variation.

In the event that, at the time contemplated for the purchase of Common Shares under the Plan, there is no public market for the Common Shares or for securities substituted therefore as provided by this section, the obligations of the Corporation under the Plan shall be met by a payment in cash in such amount as is reasonably determined by the Committee to be fair and equitable in the circumstances, such determination to be final and binding for all purposes.

**Section 20. Unfunded Plan** 

Unless otherwise determined by the Committee, the Plan shall be unfunded until payment of the Share Units under Section 9 hereof.

**Section 21. Governing Law** 

The Plan shall be governed by and interpreted in accordance with the laws in force in the province of Quebec.

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**<u>UNIVERSAL 409 AMENDMENT DOCUMENT</u>**

Except as may be specifically agreed to in writing by BCE, Inc. (the "**Company**") after December 31, 2008 or as may otherwise be specifically provided in an applicable plan document, for purposes of benefits or amounts covered by Section 409A of the United States Internal Revenue Code (the "**Code**") under the Share Unit Plan for Non-Employee Directors (1997), the Share Unit Plan for Senior Executives and Other Key Employees (1997), and the BCE Inc. Restricted Share Unit Plan for Executives and other Key Employees (2004) (collectively "Covered Awards"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. For any Covered Awards which are to be settled upon a director ceasing to be on the Board of Directors and an executive or other key employee having a termination of employment, as the case may be, such settlement shall occur in the year after the year in which such cessation or termination occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Any payment in settlement of a Covered Award will be delayed to the extent necessary to avoid a violation of Code Section 409A(a)(2)(B)(C);and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The term "Specified Employee" shall have the meaning ascribed thereto by Section 409A of the Code and the regulations promulgated thereunder and in determining whether an employee is a Specified Employee, the following rules shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The compensation of the Employee shall be determined in accordance with the definition of compensation provided
under Treas. Reg. Section 1.415(c)-2(d)(3) (wages within the meaning of Section 3401(a) of the Code for purposes of income tax withholding at the source, plus amounts excludible from gross income
under Sections 125(a) and 402(e)(3) of the Code).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of determining whether an Employee is a Specified Employee, the compensation of the Employee shall
be determined in accordance with the definition of compensation provided under Treas. Reg. Section 1.415(c)-2(d)(3) (wages within the meaning of Code section 3401(a) for purposes of income tax withholding
at the source, plus amounts excludible from gross income under section 125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k) or 457(b), without regard to rules that limit the remuneration included in wages based on the nature or location of the
employment or the services performed); provided, however, that, with respect to a nonresident alien who is not a Participant in the Plan, compensation shall not include compensation that is not includible in the gross income of the Employee under
Code Sections 872, 893, 894, 911, 931 and 933, provided such compensation is not effectively connected with the conduct of a trade or business within the United States. Notwithstanding anything herein to the contrary, (i) if a difference
definition of compensation has been designated by the Company with respect to another nonqualified deferred compensation plan in which a key employee participates, the definition of compensation shall be the definition provided in Treas. Reg. Section 1.409A-1(i)(2), and (ii) the Company may through action that is legally binding with respect to all nonqualified deferred compensation plans maintained by the Company, elect to use a different
definition of compensation.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of corporate transactions described in Treas. Reg. Section 1.409A-1(i)(6), the identification of Specified Employees shall be determined in accordance with the default rules described therein, unless the Company elects to utilize the available alternative
methodology through designations made within the timeframes specified therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Specified Employee Identification Date means December 31, unless the Company has elected a different date
through compensation plans maintained by the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Specified Employee Effective Date means the first day of the fourth month following the Specified Employee
Identification Date, unless a different date is selected in writing by the Company for this purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. For purposes of a Covered Award, "change in control" shall have the meaning described in the relevant plan document but no payment or settlement of a Covered Award will be made solely by reason of a change in control, as so described, unless it is also a "change in control event" as defined in the Income Tax Regulations Code under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. "termination of employment", "employment is terminated", "cessation of employment" and other similar words shall mean with respect to an employee

"Separation from Service" as such term is defined in the Income Tax Regulations under Section 409A of the Code as modified by the rules described below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) except in the case where the employee is on a bona fide leave of absence pursuant to the Company's
policies as provided below, the employee is deemed to have incurred a Separation from Service on a date if the Company and the employee reasonably anticipate that the level of services to be performed by the employee after such date would be
permanently reduced to 20% or less of the average services rendered by the employee during the immediately preceding 36-month period (or the total period of employment, if less than 36 months), disregarding
periods during which the employee was on a bona fide leave of absence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the employee is absent from work due to military leave, sick leave, or other bona fide leave of absence
pursuant to the Company's policies, the employee shall incur a Separation from Service on the first date that the rules of (a)(i), above, are satisfied following the later of (i) the 6 month (12 month for a disability leave of absence)
anniversary of the commencement of the leave or (ii) the expiration of the employee's right, if any, to reemployment under statute, contract or to Company policy. For this purpose, a "disability leave of absence" is an absence
due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 6 months, where such impairment causes the employee to be unable to perform
the duties of his job or a substantially similar job;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) for purposes of determining whether another organization is an Affiliate of the Company, common ownership of at
least 50% shall be determinative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Company specifically reserves the right to determine whether a sale or other disposition of substantial
assets to an unrelated party constitutes a Separation from Service with respect to an employee providing services to the seller immediately prior to the transaction and providing services to the buyer after the transaction. Such determination shall
be made in accordance with the requirements of Section 409A of the Code;

## Exhibit 4.2

**Exhibit 4.2** 

**<u>AMENDED<sup>1</sup> AND RESTATED BCE INC. SHARE UNIT PLAN</u>**

**<u>FOR NON-EMPLOYEE DIRECTORS (1997)</u>**

**Section 1. *Purpose*** 

The BCE Inc. Share Unit Plan for Non-Employee Directors (1997) (the "Plan") is intended to enhance the Corporation's and its Subsidiaries', (further to Section 4 hereof), ability to attract and retain high quality individuals to serve as members of the Board or the Board of directors of any Subsidiary and to promote a greater alignment of interests between non-employee members of the Board and the shareholders of the Corporation.

**Section 2. *Definitions*** 

For the purposes of the Plan:

(a) "Agreement" means the agreement, as it may be amended from time to time, entered into by the
Corporation and an Eligible Director pursuant to Section 6 hereof in connection with all of the Share Units which shall be credited to a Participant's account under the Plan and setting forth the related rights and obligations of the
Corporation and of the Eligible Director;

(b) "Annual Flat Retainer Fee" means the amount, expressed in dollars, of the annual flat retainer
fee which would, but for the Eligible Director's participation in the Plan, be payable in cash by the Corporation to such Eligible Director in respect of services rendered as a member of the Board and terminating on the date immediately
preceding the date of the following annual general meeting of the Corporation and subsequently beginning on the date of the annual general meeting of the Corporation at which the Eligible Director is elected and ending on the date immediately
preceding the date of the following annual general meeting of the Corporation.

(c) "Aggregate Purchase Price" has the meaning assigned thereto in Section 8 hereof;

<sup>1</sup> This BCE Inc. Share Unit Plan for Non-Employee Directors (1997) (the "Plan"), was established further to Resolution no. 6 of the BCE Board of Directors of February 26, 1997 and subsequently amended pursuant to Resolution no. 11 of the BCE Board of Directors of February 28, 2001 (re: participation of subsidiaries and partial pay-out), Resolution No. **8** of the BCE Board of Directors of February 27, 2002 (re: housekeeping changes), Resolution No. 9 of the BCE Board of Directors of November 26, 2002 (re: Directors' Compensation), Resolution No. 1 of the BCE Board of Directors of December 16, 2008 (amendment to "Entitlement Date"), December 30, 2008 (compliance with American Jobs Creation Act), Resolution 11 of the BCE Board of Directors of November 12, 2009 (Directors' Compensation, by Resolution of the Board of Directors of August 4, 2011 (settlement mechanism), and by Resolution of the Board of Directors of August 8, 2013 (settlement mechanism in case of death of a Participant). 

This version of the Official Plan Text reflects the Rulings obtained from CRA, the most recent ones being dated May 8, 2002 (ruling letter received in respect to the February 28, 2001 and February 27, 2002 amendments) and the CRA Ruling of June 25, 2003 (with respect to the November 26, 2002 amendment and July 2006 (Bell Aliant Income Trust Conversion).

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(d) "Annual Retainer Fee" means with respect to an Eligible Director of a Subsidiary, the amount,
expressed in dollars, of the annual retainer fee which would, but for the Plan be payable in cash by a Subsidiary to an Eligible Director in respect of services rendered, as a member of the board of a subsidiary beginning on the date of the annual
general meeting of the Corporation at which the Eligible Director is elected and ending on the date immediately preceding the date of the following annual general meeting of the Corporation, and for greater certainty, Annual Retainer Fee shall
exclude any other fee which may be payable by the Corporation to the Eligible Director;

(e) "Board" means the Board of Directors of BCE Inc.;

(f) "Committee" means the committee of directors of the Corporation generally responsible for
directors' compensation related matters and which is currently named the Corporate Governance Committee;

(g) "Common Share" means a common share without nominal or par value of BCE Inc.;

(h) "Corporation" means BCE Inc.;

(i) "Designated Broker" has the meaning assigned thereto in section 8 hereof;

(j) "Eligible Director" has the meaning assigned thereto in Section 4 hereof;

(k) "Entitlement Date" has the meaning assigned thereto in Section 8 hereof;

(l) "Market Value" on any particular day means the market value of one Common Share and shall be
calculated on the basis of the average of the closing prices for a board lot of Common Shares on the Toronto Stock Exchange on that day, or if at least one board lot of Common Shares shall not have been traded on the Toronto Stock Exchange on that
day, on the immediately preceding day for which at least one board lot was so traded; or if, at any time, the Common Shares are no longer listed on the Toronto Stock Exchange then the Market Value shall be calculated on the basis of the closing
price, on the aforesaid day, for a board lot of Common Shares on any stock exchange on which the Common Shares are listed and had the greatest volume of trading on that particular day;

(m) "Participant" means an Eligible Director who has been credited Share Units under the Plan;

(n) "Plan" means The BCE Inc. Share Unit Plan for Non-Employee Directors (1997), as amended from time to time;

(o) "Price per Common Share" has the meaning assigned thereto in Section 8 hereof;

(p) "Quarter" means any of the four quarters, of any financial year of the Corporation, currently
ending on March 31, June 30, September 30 and December 31;

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(q) "Quarterly Retainer Fee" means the amount, expressed in dollars, representing twenty-five
percent (25%) of the Annual Retainer Fee or the Annual Flat Retainer Fee which would, but for the participation in the Plan, whether voluntary or not, be payable in cash on the last day of each Quarter by the Corporation or a Subsidiary to an
Eligible Director, or if, with respect to any Quarter, an Eligible Director has served as a member of the Board or a Board of directors of a Subsidiary for a number of days that is less than the full Quarter, the amount, expressed in dollars, which
is the product of: (i) the quotient determined by dividing: (A) the number of days in the particular Quarter during which the Eligible Director served as a member of the Board or a Board of directors of a Subsidiary, and (B) the
aggregate number of days in the particular Quarter; and (ii) the amount, expressed in dollars, of the quarterly retainer fee which would otherwise have been payable for such Quarter had the Eligible Director served as a member of the Board or a
Board of directors of a Subsidiary for the full Quarter;

(r) "Reference Date", with respect to any Quarter, means the date which shall be used to determine,
on a quarterly basis, the Market Value of a Common Share for purposes of determining the number of Share Units to be credited, for such Quarter, to a Participant's account pursuant to Section 5 hereof, which date shall be, unless
otherwise determined by the Committee and approved by the Board, the last trading day of such Quarter on which the Market Value of a Common Share may be determined or, if a Participant's Termination of Board Service occurs during the Quarter
prior to such last trading date, the date of Termination of Board Service of the Participant, provided that if the date of Termination of Board Service is not a trading day on which the Market Value of a Common Share may be determined, the Reference
Date shall be the immediately preceding trading day on which such Market Value may be determined;

(s) "Share Unit" means a unit credited by means of a bookkeeping entry on the books of the
Corporation to a Participant's account in accordance with the terms and conditions of the Plan;

(t) "Subsidiary" means any corporation a majority of whose shares normally entitled to vote in
electing directors is owned directly or indirectly by the Corporation;

(u) "Termination of Board Service", with respect to any Participant shall mean the earliest date on
which both of the following conditions are met: (i) the Participant has ceased to be a member of the Board of Directors of BCE or of the board of directors of a Subsidiary for any reason whatsoever, including the death of a Participant; and
(ii) the Participant is neither an employee of BCE or of a Subsidiary, nor a member of the Board of Directors of BCE or of the board of directors of a Subsidiary.

(v) "Trustee" shall mean the trustee under the trust agreement entered into pursuant to section 13
hereof;

**Section 3. *Administration of the Plan*** 

Subject to Sections 2, 8 and 12, the Plan shall be administered by the Committee, the whole subject to applicable corporate and securities law requirements. The Committee shall have full and complete authority to interpret the Plan, to prescribe such rules and regulations (including those with respect to the holding of meetings by telephone) and to make such other determinations as it deems necessary or desirable for the administration of the Plan. All actions taken and decisions made by the Committee shall be final, conclusive and binding on all parties concerned, including, but not limited to, the Participants and their beneficiaries and legal representatives, the Corporation and its shareholders. All expenses of administration of the Plan shall be borne by the Corporation, including any reasonable brokerage fees relating to the purchase of Common Shares under the Plan.

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**Section 4. *Eligibility*** 

The Plan and in particular the crediting of Share Units further to Section 5 hereof, shall apply to all members of the Board or members of the board of directors of any Subsidiary that has been designated by the Committee as eligible for participation in the Plan and who, at the time of execution of the Agreement, and at all times thereafter while they continue to serve as a member of at least one of the Board or the board of directors of a Subsidiary, are not employees of the Corporation or any Subsidiary of the Corporation ("Eligible Directors").

**Section 5. *Deferral of Annual Retainer Fees and Annual Flat Retainer Fees*** 

Each Eligible Director who is a member of the Board of the Corporation and who has not attained the minimum share ownership level as approved by the Board from time to time, shall be paid one hundred percent (100%) of his or her Annual Flat Retainer Fee in the form of Share Units in lieu of being paid in cash. Each Eligible Director who is a member of the Board of the Corporation and who has attained the minimum share ownership level as approved by the Board from time to time, shall be paid fifty percent (50%) of his or her Annual Flat Fee Retainer in the form of Share Units in lieu of being paid in cash, and may, within the time limits provided by the Corporation, elect to be paid the remaining fifty percent (50%) of such Annual Flat Retainer Fee in the form of Share Units in lieu of being paid in cash.

Each eligible Director, subject to Section 10 may, at such Eligible Director's option, within the time limits provided by the Corporation, elect to be paid up to one hundred percent (100%) of any other fees (other than the Annual Retainer Fee), as may be allowed by the Committee, in the form of Share Units in lieu of being paid in cash. Each Eligible Director who is a member of the board of directors of a Subsidiary may, at such Eligible Director's option and within the time limits provided by the Corporation, elect to be paid up to one hundred percent (100%) of the Annual Retainer Fee paid by such Subsidiary, and subject to Section 10, may elect to be paid up to one hundred percent (100%) of such other fees as may be allowed by the Committee, in the form of Share Units in lieu of being paid in cash. Each election referred to herein is a one-time election and will apply unless revoked or modified by the Eligible Director.

The number of Share Units (including fractional Share Units) to be credited on a quarterly basis to an Eligible Director's account under Section 9 hereof with respect to any particular Quarter shall be equal to the quotient determined by dividing: (a) the entire amount, and, in the case of Eligible Directors who sit on the Board of Subsidiaries, the selected percentage expressed in dollars, of the Eligible Director's Quarterly Retainer Fee which would, but for the Plan, have been paid in cash with respect to such Quarter, by (b) the Market Value of a Common Share on the Reference Date for such Quarter.

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A Participant who becomes an employee (otherwise than in the capacity as a director) of the Corporation or a Subsidiary of the Corporation shall no longer be eligible to receive Share Units under the Plan. In that case, starting with the Quarter in which the Participant became such an employee, all of his or her future Quarterly Retainer Fees, if any, shall be paid in cash. However, Share Units credited to such Participant's account on the date he or she becomes an employee of the Corporation or of a Subsidiary, plus the number of Share Units credited to the Participant's account at end of the Quarter in which he or she became an employee of the Corporation or of a Subsidiary, shall remain governed by the Plan and the Agreement for so long as the Participant remains a member of the Board or Board of directors of any Subsidiary or an employee of the Corporation or an employee of a Subsidiary. The number of Share Units to be credited to a Participant's account for the Quarter in which he or she became an employee (otherwise than in the capacity as a director) of the Corporation or of a Subsidiary, will be pro-rated (by virtue of the pro-ration of fees) based on the number of days in the Quarter that the Participant was not an employee (other than in the capacity as director) of the Corporation or of a Subsidiary.

**Section 6. *Execution of Agreement*** 

Each Eligible Director shall, as soon as practicable after the date on which the annual general meeting of the Corporation is held and at which he or she is elected as a member of the Board or board of directors of any Subsidiary or, in the case of Eligible Directors who shall become members of the Board or board of directors of any Subsidiary, as soon as practicable after the date on which his or her term as a member of the Board or board of directors of any Subsidiary commences, enter into an Agreement with the Corporation. Such Agreement shall set out certain rights and obligations of the parties thereto with respect to all of the Share Units which shall, under the Plan, be credited to the account of a Participant, and shall remain in full force and effect until all such Share Units shall have been cancelled. An Eligible Director under the "Bell Canada Share Unit Plan for Non-Employee Directors (1997)" who has entered into an agreement and made an election in accordance with the terms of that plan in respect of the 2002 and subsequent calendar years shall, unless such election is revoked or modified by the Eligible Director, be deemed to have entered into an Agreement and to have made an election under this Plan.

**Section 7. *Dividend like Amounts*** 

A Participant shall, from time to time during the term of the Participant's Agreement, including the period following Termination of Board Service and until the Entitlement Date referred to in Section 8 hereof, be credited with additional Share Units, the number of which shall be equal to the quotient determined by dividing: (i) the product determined by multiplying (a) one hundred percent (100%) of each dividend declared and paid by the Corporation on its Common Shares on a per share basis (excluding stock dividends, but including dividends which may be paid in cash or in shares at the option of the shareholder), by (b) the number of Share Units recorded in the Participant's account on the record date for the payment of any such dividend, by (ii) the Market Value of a Common Share on the dividend payment date for such dividend, with fractions computed to four decimal places.

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**Section 8. *Payment of Share Units*** 

Except as may be determined by the Committee, and approved by the Board, no later than December 1 of the first calendar year commencing after the year in which the date of Termination of Board Service of a Participant has occurred, the Participant shall receive, in satisfaction of the number of Share Units recorded in the Participant's account on the date specified in the Agreement(s) (the "Entitlement Date"), a number of Common Shares to be purchased on the open market equal to the number of Share Units then recorded in the account of the Participant, or as may be adjusted pursuant to Section 19 hereof, and reduced by any applicable withholding taxes and other source deductions reflected in the form of Share Units, required by law to be withheld by the Corporation in connection with the total payments made in satisfaction of the Participant's Share Units. No payment of Share Units shall be made by the Corporation to a Participant until Termination of Board Service has occurred with respect to such Participant.

Prior to 11:00 a.m. on the Entitlement Date, the Corporation shall notify the Trustee as to the number of Common Shares to be purchased on behalf of the Participant on the open market. As soon as practicable thereafter, the Trustee shall cause the purchase on the open market of the number of Common Shares requested by the Corporation and notify, or cause the notification to, the Participant and the Corporation of: a) the aggregate purchase price ("Aggregate Purchase Price") of the Common Shares, b) the purchase price per Common Share or, if the Common Shares were purchased at different prices, the average purchase price (computed on a weighted average basis) per Common Share ("Price per Common Share"), c) the amount of any related reasonable brokerage commission, and d) the settlement date for the purchase of the Common Shares. On the settlement date, upon payment of the Aggregate Purchase Price and related reasonable brokerage commission by the Corporation, the Trustee shall deliver or cause to be delivered, to the Participant or to his Designated Broker the certificate representing the Common Shares. For purposes of delivery of Common Shares, a Participant may designate a broker to which the certificate representing such Common Shares shall be delivered (the "Designated Broker"). The Trustee may deliver the Common Shares through electronic means available for the secure transmission of securities. Any such designation may be changed from time to time by the Participant. Any entitlement to fractional Share Units shall be paid in cash based on the Price per Common Share.

In cases of Participants who are citizens or residents of a country other than Canada, the Corporation shall have the right, in its sole discretion, to pay entirely in cash the value, as computed under the Plan, of a Participant's Share Unit entitlement (less any applicable withholdings), should it deem the regulatory or other requirements of the applicable foreign jurisdiction associated with the purchase of, or payment in, Common Shares too onerous to it or to the Participant.

**Section 9. *Participant's Account*** 

The Corporation shall maintain in its books an account for each Plan Participant recording at all times the number of Share Units standing to the credit of the Participant. Upon payment in satisfaction of Share Units, such Share Units shall be cancelled. A written confirmation of the balance in the account shall be mailed by the Corporation to the Participant at least annually.

A Participant, together with the applicable Subsidiary, may request and the Corporation may permit to accept a Participant's election to have the number of share units (including fractional share units) recorded in his or her account under the share unit plan of a Subsidiary transferred, if such plan allows for such transfers, to the Participant's account under the Plan; upon such transfer and credit of the Share Units to the Participant's account under the Plan, the Share Units so transferred shall be governed by the Plan. A Participant's account under the Plan may be credited with a number of Share Units equal to the number of share units credited to the account of such Participant under the share unit plan of a Subsidiary for which the Corporation assumes responsibility upon the liquidation of such Subsidiary.

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**Section 10. *Deferral of Other Fees*** 

The Committee may, at its discretion, allow an Eligible Director to receive his or her fees, other than the Annual Retainer Fees and the Annual Flat Retainer Fees, otherwise payable in cash, in the form of Share Units. Any such payment in the form of Share Units shall be subject to such conditions as the Committee may impose.

**Section 11. *Effective Date of the Plan*** 

The effective date of the Plan shall be May 1, 1997.

**Section 12. *Amendments to, Suspension or Termination of the Plan*** 

The Board may from time to time amend, suspend or terminate the Plan in whole or in part. However, any such amendment, suspension or termination shall not adversely affect the rights of any Participant under any Agreement existing at the time of such amendment, suspension or termination without the consent of the affected Participant.

If the Board terminates the Plan, Share Units previously credited shall, at the discretion of the Board, either (a) become immediately payable in accordance with the terms of the Plan in effect at such time, or (b) remain outstanding and in effect and paid in due course in accordance with their applicable terms and conditions.

**Section 13. *Purchases on the Open Market*** 

The Corporation shall enter into a trust agreement with such trust company as may be designated from time to time by the Corporation to act as trustee ("Trustee") for Participants in respect of purchases of Common Shares on behalf of such Participants in accordance with the terms of the Plan. The Trustee shall be independent from the Corporation.

Purchases of Common Shares pursuant to the Plan shall be made on the open market by the Trustee or by a registered broker independent from the Corporation designated by the Trustee and who is a member of the Toronto Stock Exchange. Any such designation may be changed from time to time by the Trustee.

The Share Units, and any related Common Shares that may be delivered under the Plan, have not been registered under the U.S. Securities Act of 1933 as of the effective date of the Plan and the Corporation has no obligation to register such units or shares. The said Common Shares may not be offered or sold in the United States unless registered or an exemption from registration is available.

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**Section 14. *Rights of Participants*** 

Except as specifically set out in the Plan or Agreement, no Eligible Director, Participant or other person shall have any claim or right to any Common Shares deliverable in payment of Share Units granted pursuant to the Plan.

Under no circumstances shall Share Units be considered Common Shares nor shall they entitle any Participant to exercise voting rights or any other rights attaching to the ownership of the Common Shares, nor shall any Participant be considered the owner of the Common Shares until after the date of the purchase of such Common Shares on the open market.

**Section 15. *Death of Participant*** 

In the event of a Participant's death, the Participant's estate shall receive, in satisfaction of all the number of Share Units recorded in the Participant's account on such date, either, at the Participant's estate discretion (i) a cash equivalent value; (ii) a number of Common Shares to be purchased on the open market; or (iii) a combination of both; any of such alternatives being equal to the number of Share Units then recorded in the account of the Participant, or as may be adjusted pursuant to Section 19 hereof, reduced by any applicable withholding taxes and other source deductions required by law to be withheld by the Corporation in connection with the total payments made in satisfaction of the Participant's Share Units. The Participant's estate must determine the Entitlement Date in an election form to be provided by the Corporation to the Participant's estate, within a reasonable period of time following receipt of such election form.

Notwithstanding the foregoing, the Committee may, in its sole discretion, with respect to a payment of Share Units to a Participant's estate, require that a portion or all of a Participant's Share Units be settled in Common Shares, even if the Participant's estate has made an election to receive a cash equivalent value. Further to Section 3 hereof, the Committee may delegate to such officer or officers of the Corporation, as it may determine, the administrative tasks related to the requirement that a portion or all of the Participant's Share Units be settled in Common Shares.

**Section 16. *Compliance with Applicable Laws*** 

Any obligation of the Corporation with respect to its Common Shares pursuant to the terms of the Plan is subject to compliance with all applicable laws. Should the Corporation, in its sole discretion, determine that it is not feasible to make payment of a Share Unit in Common Shares by reason of any such laws, such obligation shall be satisfied by means of an equivalent cash payment. The Participant shall comply with all such laws and furnish the Corporation with any and all information and undertakings as may be required to ensure compliance therewith.

**Section 17. *Withholding Taxes*** 

The Corporation shall be entitled to deduct any amount of withholding taxes and other withholdings from any amount paid or credited hereunder.

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**Section 18. *Transferability*** 

In no event may the rights or interests of a Participant under the Plan be assigned, encumbered, pledged, transferred or alienated in any way, except to the extent that certain rights may pass to a beneficiary or legal representative upon death of a Participant, by will or by the laws of succession and distribution.

**Section 19. *Alteration of Number of Share Units Subject to the Plan*** 

In the event that the Common Shares shall be subdivided or consolidated into a different number of Common Shares, or a dividend shall be declared upon the Common Shares payable in Common Shares (other than a dividend which may be paid in cash or in shares at the option of the shareholder), the number of Share Units then recorded in the Participant's account shall be adjusted by replacing such number by a number equal to the number of Common Shares which would be held by the Participant immediately after the dividend, subdivision or consolidation, should the Participant have held a number of Common Shares equal to the number of Share Units recorded in the Participant's account on the record date fixed for such stock dividend, subdivision or consolidation.

In the event that the outstanding Common Shares shall be changed into or exchanged for a different number or kind of securities of the Corporation or of another corporation, whether through an arrangement, amalgamation or other similar statutory procedure, or a share recapitalization, then there shall be substituted for each Common Share referred to in the Plan the kind of securities into which each outstanding Common Share shall be so changed or for which each such Common Share shall be exchanged and an equitable adjustment shall be made, if required, in the number of Share Units then recorded in the Participant's account, such adjustment, if any, to be reasonably determined by the Committee and to be effective and binding for all purposes.

In the event there shall be any change, other than as specified above in this section, in the number or kind of outstanding Common Shares or of any securities into which such Common Shares shall have been changed or for which it shall have been exchanged, then there shall be substituted for each Common Share referred to in the Plan or for each security into which such Common Shares shall have been so changed or exchanged, the kind of securities into which each outstanding Common

Share or each such security shall be so changed or exchanged and an equitable adjustment shall be made, if required, in the number of Share Units then recorded in the Participant's account, such adjustment, if any, to be reasonably determined by the Committee and to be effective and binding for all purposes.

In the case of any such substitution, change or adjustment as provided for in this section, the variation shall generally require that the dollar value of the Share Units then recorded in the Participant's account prior to such substitution, change or adjustment will be proportionately and appropriately varied so that it be equal to such dollar value after the variation.

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In the event that, at the time contemplated for the purchase of Common Shares under the Plan, there is no public market for the Common Shares or for securities substituted therefor as provided by this section, the obligations of the Corporation under the Plan shall be met by a payment in cash in such amount as is reasonably determined by the Committee to be fair and equitable in the circumstances.

**Section 20. *Unfunded Plan*** 

Unless otherwise determined by the Committee, the Plan shall be unfunded until payment of the Share Units under Section 8 hereof.

**Section 21. *Governing Law*** 

The Plan shall be governed by, and interpreted in accordance with, the laws in force in the Province of Quebec.

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**<u>UNIVERSAL 409 AMENDMENT DOCUMENT</u>**

Except as may be specifically agreed to in writing by BCE, Inc. (the **"Company")** after December 31, 2008 or as may otherwise be specifically provided in an applicable plan document, for purposes of benefits or amounts covered by Section 409A of the United States Internal Revenue Code (the **"Code")** under the Share Unit Plan for Non-Employee Directors (1997), the Share Unit Plan for Senior Executives and Other Key Employees (1997), and the BCE Inc. Restricted Share Unit Plan for Executives and other Key Employees (2003) (collectively "Covered Awards"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. For any Covered Awards which are to be settled upon a director ceasing to be on the Board of Directors and an executive or other key employee having a termination of employment, as the case may be, such settlement shall occur in the year after the year in which such cessation or termination occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Any payment in settlement of a Covered Award will be delayed to the extent necessary to avoid a violation of Code Section 409A(a)(2)(B)(C);and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The term "Specified Employee" shall have the meaning ascribed thereto by Section 409A of the Code and the regulations promulgated thereunder and in determining whether an employee is a Specified Employee, the following rules shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The compensation of the Employee shall be determined in accordance with the definition of compensation provided
under Treas. Reg. Section 1.415(c)-2(d)(3) (wages within the meaning of Section 3401(a) of the Code for purposes of income tax withholding at the source, plus amounts excludible from gross income
under Sections 125(a) and 402(e)(3) of the Code).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of determining whether an Employee is a Specified Employee, the compensation of the Employee shall
be determined in accordance with the definition of compensation provided under Treas. Reg. Section 1.415(c)-2(d)(3) (wages within the meaning of Code section 3401(a) for purposes of income tax withholding
at the source, plus amounts excludible from gross income under section 125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k) or 457(b), without regard to rules that limit the remuneration included in wages based on the nature or location of the
employment or the services performed); provided, however, that, with respect to a nonresident alien who is not a Participant in the Plan, compensation shall not include compensation that is not includible in the gross income of the Employee under
Code Sections 872, 893, 894, 911, 931 and 933, provided such compensation is not effectively connected with the conduct of a trade or business within the United States. Notwithstanding anything herein to the contrary, (i) if a difference
definition of compensation has been designated by the Company with respect to another nonqualified deferred compensation plan in which a key employee participates, the definition of compensation shall be the definition provided in Treas. Reg. Section 1.409A-1(i)(2), and (ii) the Company may through action that is legally binding with respect to all nonqualified deferred compensation plans maintained by the Company, elect to use a different
definition of compensation.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of corporate transactions described in Treas. Reg. Section 1.409A-1(i)(6), the identification of Specified Employees shall be determined in accordance with the default rules described therein, unless the Company elects to utilize the available alternative
methodology through designations made within the timeframes specified therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Specified Employee Identification Date means December 31, unless the Company has elected a different date
through compensation plans maintained by the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Specified Employee Effective Date means the first day of the fourth month following the Specified Employee
Identification Date, unless a different date is selected in writing by the Company for this purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. For purposes of a Covered Award, "change in control" shall have the meaning described in the relevant plan document but no payment or settlement of a Covered Award will be made solely by reason of a change in control, as so described, unless it is also a "change in control event" as defined in the Income Tax Regulations Code under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. "termination of employment", "employment is terminated", "cessation of employment" and other similar words shall mean with respect to an employee

"Separation from Service" as such term is defined in the Income Tax Regulations under Section 409A of the Code as modified by the rules described below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) except in the case where the employee is on a bona fide leave of absence pursuant to the Company's
policies as provided below, the employee is deemed to have incurred a Separation from Service on a date if the Company and the employee reasonably anticipate that the level of services to be performed by the employee after such date would be
permanently reduced to 20% or less of the average services rendered by the employee during the immediately preceding 36-month period (or the total period of employment, if less than 36 months), disregarding
periods during which the employee was on a bona fide leave of absence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the employee is absent from work due to military leave, sick leave, or other bona fide leave of absence
pursuant to the Company's policies, the employee shall incur a Separation from Service on the first date that the rules of (a)(i), above, are satisfied following the later of (i) the 6 month (12 month for a disability leave of absence)
anniversary of the commencement of the leave or (ii) the expiration of the employee's right, if any, to reemployment under statute, contract or to Company policy. For this purpose, a "disability leave of absence" is an absence
due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 6 months, where such impairment causes the employee to be unable to perform
the duties of his job or a substantially similar job;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) for purposes of determining whether another organization is an Affiliate of the Company, common ownership of at
least 50% shall be determinative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Company specifically reserves the right to determine whether a sale or other disposition of substantial
assets to an unrelated party constitutes a Separation from Service with respect to an employee providing services to the seller immediately prior to the transaction and providing services to the buyer after the transaction. Such determination shall
be made in accordance with the requirements of Section 409A of the Code;

## Exhibit 4.3

**Exhibit 4.3** 

**BCE INC. RESTRICTED SHARE UNIT PLAN** 

**<u>FOR EXECUTIVES AND OTHER KEY EMPLOYEES (2004)<sup>1</sup></u>**

**Section 1. Purpose** 

The purpose of the Restricted Share Unit Plan for Executives and Other Key Employees (2004) (the "Plan") is to encourage the achievement of the Corporation's objectives by the executives and other Key Employees of the Corporation and its Subsidiaries and to promote a greater alignment of interests between such executives and other Key Employees and the shareholders of the Corporation.

**Section 2. Definitions** 

For the purpose of the Plan:

(a) "Board" means the Board of Directors of BCE Inc.;

(b) "Committee" means the Management Resources and Compensation Committee of the Board or any
committee of the Board generally responsible for executive compensation;

(c) "Share" means a common share without nominal or par value of the Corporation;

(d) "Corporation" means BCE Inc.;

(e) "Designated Broker" has the meaning assigned thereto in Section 9 hereof;

(f) "Dividend Market Value" on any particular day means the market value of one Share and shall be
calculated on the basis of the closing price for a board lot of Shares on the Toronto Stock Exchange on that day, or if at least one board lot of Shares shall not have been traded on the Toronto Stock Exchange on that day, on the immediately
preceding day for which at least one board lot was so traded; or if, at any time, the Shares are no longer listed on the Toronto Stock Exchange, then the market value shall be calculated on the basis of the closing price, on the aforesaid day, for a
board lot of Shares on the stock exchange on which the Shares are listed and had the greatest volume of trading on that particular day;

(g) "DSU" means a deferred share unit awarded under the Executive DSU Plan;

(h) "Executive DSU Plan" means the BCE Inc. Share Unit Plan for Senior Executives and Other Key
Employees (1997);

<sup>1</sup> As amended on December 30, 2008, November 4, 2010, February 10, 2011, February 26, 2014 and February 4, 2016.

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(i) "Effective Date" has the meaning assigned thereto in Section 5 hereof;

(j) "Eligible Key Employees" has the meaning assigned thereto in Section 5 hereof;

(k) "Entitlement Date" has the meaning assigned thereto in Section 9 hereof;

(l) "Key Employee" includes the officers or other employees of the Corporation or of any Subsidiary
of the Corporation who, in the opinion of the Committee, have demonstrated a capacity for contributing a substantial measure to the successful performance of the Corporation or of such Subsidiary;

(m) "Participant" means an Eligible Key Employee who has been granted Restricted Share Units under
the Plan;

(n) "Payout Market Value" on any particular day means the market value of one Share and shall be
calculated using the volume weighted average of the trading price per Share of a board lot of Shares traded on the Toronto Stock Exchange or, in the event the Shares cease to be listed on the Toronto Stock Exchange, on the board lot of Shares on the
stock exchange on which the Shares are listed, for the last 5 consecutive trading days ending immediately on the last trading day prior to that particular day;

(o) "Performance Period" means up to a 3-year period as such
is determined by the Committee and associated with an award of Restricted Share Units made to Participants pursuant to Section 5;

(p) "Plan" means the BCE Inc. Restricted Share Unit Plan for Executives and Other Key Employees
(2004), as amended from time to time;

(q) "Price per Share" has the meaning assigned thereto in Section 9 hereof;

(r) "Restricted Share Unit" means a unit credited by means of a bookkeeping entry on the books of
the Corporation to a Participant's account in accordance with the terms and conditions of the Plan;

(s) "Subsidiary" means any corporation a majority of whose shares normally entitled to vote in
electing directors is owned directly or indirectly by the Corporation;

(t) "Trustee" shall mean the trustee under the trust agreement entered into pursuant to
Section 12 hereof;

(u) "Vesting Schedule" has the meaning assigned thereto in Section 6 hereof;

(v) "Vesting Percentage" has the meaning assigned thereto in Section 8 hereof; and

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(w) "Vested Restricted Share Units" has the meaning assigned thereto in Section 8 hereof.

**Section 3. Administration** 

Subject to Section 5, Section 6, Section 9 and Section 21 hereof, the Plan and in any document approved by the Committee at time of grant, shall be administered by the Committee, the whole subject to applicable corporate and securities law requirements. The Committee shall have full and complete authority to interpret the Plan, to prescribe such rules and regulations and to make such other determinations as it deems necessary or desirable for the administration of the Plan. All actions taken and decisions made by the Committee shall be final, conclusive and binding on all parties concerned, including, but not limited to, a Participant and such Participant's beneficiaries and legal representatives, the Corporation and its Subsidiaries, their employees and shareholders. All expenses of administration of the Plan shall be borne by the Corporation, including any reasonable brokerage fees relating to the purchase of Shares under the Plan. A Subsidiary however shall reimburse the Corporation for all such expenses incurred by the Corporation in relation to Participants employed by such Subsidiary.

**Section 4. Eligibility** 

The Committee shall, from time to time, determine which Key Employees shall be eligible to be granted Restricted Share Units under the Plan (an "Eligible Key Employee).

**Section 5. Grant of Awards** 

Subject to confirmation by the Board, the Committee shall, from time to time, choose those Eligible Key Employees to whom it recommends that Restricted Share Units be awarded and determine the number of Restricted Share Units which it recommends be awarded to such Eligible Key Employees. The Committee shall, subject to confirmation by the Board, recommend the effective date ("Effective Date") of each award of Restricted Share Units under the Plan. Each award of Restricted Share Units shall be confirmed by an instrument in writing issued by the Corporation to the Participant.

Restricted Share Units awards are offered at the complete discretion of the Board, are not included in the normal compensation of any participant and shall not be considered in calculating any severance, termination or end of service payment. There is no entitlement to any additional award following any of the events described under Section 14 herein.

**Section 6. Performance** 

The Committee shall, with respect to each award of Restricted Share Units made pursuant to Section 5 hereof, and as of the Effective Date of the award, establish the performance measures and objectives that shall determine the proportion, not exceeding 100%, of such award of Restricted Share Units becoming vested, and the vesting schedule applicable for the Performance Period (the "Vesting Schedule"). Such performance measures and objectives, Performance Period and Vesting Schedule shall be outlined in a document approved by the Committee at time of grant, as such document may be amended from time to time by the Committee, subject to Section 11 hereof. Such document, and any amendments thereto, shall be provided to each Participant at the time of awards of Restricted Share Units or thereafter, as required.

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**Section 7. Dividend like Amounts** 

A Participant's account shall, from time to time, be credited with additional Restricted Share Units, the number of which shall be equal to the quotient determined by dividing: (i) the product determined by multiplying: (a) one hundred percent (100%) of the amount of each dividend declared and paid by the Corporation on its Shares, on a per share basis (excluding stock dividends, but including dividends which may be paid in cash or in shares at the option of the shareholder), by (b) the number of Restricted Share Units recorded in the Participant's account on the record date for the payment of such dividend, by (ii) the Dividend Market Value of a Share on the payment date of such dividend, with fractions computed to four decimal places. For greater clarity, the additional Restricted Share Units credited under this Section 7 hereof shall be subject to the Vesting Schedule applicable for the Performance Period as outlined in Section 6 hereof.

**Section 8. Vested Restricted Share Units** 

Following the completion of a Performance Period, unless otherwise determined by the Committee, and subject to confirmation by the Board, the Committee shall assess the performance in light of the measures identified and the objectives set for such Performance Period and outlined in any document approved by the Committee at time of grant, as set forth in Section 6 hereof. The Committee shall then establish the proportion, not to exceed (100%), of such awards made pursuant to Section 5 hereof becoming vested as per the Vesting Schedule applicable to such Performance Period (the "Vesting Percentage").

Subject to Section 14 hereof, a Participant shall have a number of Restricted Share Units become vested determined for the Performance Period, as A times B, where A is equal to the number of Restricted Share Units recorded in the Participant's account and B is equal to the Vesting Percentage determined pursuant to Section 8 hereof ("Vested Restricted Share Units"). Any unvested Restricted Share Units at the end of a Performance Period shall be cancelled.

**Section 9. Payment of Vested Restricted Share Units** 

No later than ninety (90) days following the end of the Performance Period, the Participant shall receive, in satisfaction of all the number of Vested Restricted Share Units recorded in the Participant's account on such date (the "Entitlement Date"), a number of Shares to be purchased on the open market being equal to the number of Vested Restricted Share Units then recorded in the account of the Participant, or as may be adjusted pursuant to Section 18 hereof, and in the case of a payment in Shares, reduced by any applicable withholding taxes and other source deductions required by law to be withheld by the Corporation in connection with the total payments made in satisfaction of the Participant's Vested Restricted Share Units.

------

Prior to 11:00 a.m. on the Entitlement Date, for any Shares to be purchased in satisfaction of some or all of the Vested Restricted Share Units, the Corporation shall notify the Trustee as to the number of Shares to be purchased on behalf of the Participants on the open market. As soon as practicable thereafter, the Trustee shall cause the purchase on the open market of the number of Shares requested by the Corporation and notify, or cause the notification to, the Participants and the Corporation of : a) the aggregate purchase price ("Aggregate Purchase Price") of the Shares, b) the purchase price per Share, or, if the Shares were purchased at different prices, the average purchase price (computed on a weighted average basis) per Share ("Price per Share"), c) the amount of any related reasonable brokerage commission, and d) the settlement date for the purchase of the Shares. On the settlement date, upon payment of the Aggregate Purchase Price and related reasonable brokerage commission by the Corporation, the Trustee shall deliver, or cause to be delivered, to the Participant or to his Designated Broker the certificate representing the Shares. For purposes of delivery of Shares, a Participant may designate a broker to which the certificate representing such Shares shall be delivered (the "Designated Broker"). The Trustee may deliver the Shares through electronic means available for the secure transmission of securities. Any such designation may be changed from time to time by the Participant. Any entitlement to fractional Share Units shall be paid in cash based on the Price per Share.

Notwithstanding this Section 9, the Committee may, in its sole discretion, make changes to the manner in which the payment of Restricted Share Units is made, including if participants receive Shares, DSUs or another form of payment or the process of payment, provided that such changes do not, in the aggregate, adversely affect the rights of any Participant under the Plan. The Committee may delegate to such officer or officers of the Corporation, as it may determine, the administrative tasks related to implementing the changes in the payment methods or processes.

**Section 10. Participant's Account** 

The Corporation shall maintain in its books an account for each Participant recording at all times the number of Restricted Share Units granted to the Participant. Upon payment in satisfaction of Vested Restricted Share Units, whether in Shares, or other form of payment, such Vested Restricted Share Units and any unvested Restricted Share Units shall be cancelled.

**Section 11. Amendments to, Suspension or Termination of, the Plan** 

The Board may from time to time amend, suspend or terminate the Plan in whole or in part. However, any such amendment, suspension or termination shall not adversely affect the rights of any Participant under the Plan and/or any document approved by the Committee at time of grant, in effect at the time of such amendment, suspension or termination without the consent of the affected Participant.

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Notwithstanding the above paragraph, if the Board terminates the Plan, prior awards of Restricted Share Units shall, at the discretion of the Board, either (a) become immediately vested and payable in accordance with the terms of the Plan in effect at such time, or (b) remain outstanding and in effect, vest and be payable in accordance with their applicable terms and conditions.

**Section 12. Purchases on the Open Market** 

The Corporation shall enter into a trust agreement with such trust company as may be designated from time to time by the Corporation to act as trustee for Participants in respect of purchase of Shares on behalf of such Participants in accordance with the terms of the Plan. The Trustee shall be independent from the Corporation.

Purchases of Shares pursuant to the Plan shall be made on the open market by the Trustee or by a registered broker independent from the Corporation designated by the Trustee and who is a member of the Toronto Stock Exchange. Any such designation may be changed from time to time by the Trustee.

The Restricted Share Units, and any related Shares, that may be awarded under the Plan have not been registered under the U.S. Securities Act of 1933 as of the effective date of the Plan and the Corporation has no obligation to register such Restricted Share Units or Shares. The said Shares may not be offered or sold in the United States unless registered or an exemption from registration is available.

**Section 13. Rights of Participants** 

Except as specifically set out in the Plan, no Eligible Key Employee, Participant or other person shall have any claim or right to any Shares deliverable in payment of Restricted Share Units granted pursuant to the Plan.

Neither the Plan nor any award thereunder shall be construed as granting an Eligible Key Employee or Participant a right to be retained as an employee of the Corporation or of any of its Subsidiaries or a claim or right to any future grants of Restricted Share Units. Neither the Plan nor any action taken thereunder shall interfere with the right of the employer of such Eligible Key Employee or Participant to terminate the employment of such Eligible Key Employee or Participant at any time. The payment of any sum of money in cash in lieu of notice of the termination of employment shall not be considered as extending the period of employment for the purposes of the Plan.

Under no circumstances shall Restricted Share Units (whether vested or unvested) be considered Shares nor shall they entitle any Participant to exercise voting rights or any other rights attaching to the ownership of the Shares, nor shall any Participant be considered the owner of the Shares until after the date of the purchase of any Shares on the open market.

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**Section 14. Treatment of Restricted Share Units Upon the Occurrence of Certain Events** 

The Committee shall, with respect to each award of Restricted Share Units made pursuant to Section 5 hereof, and as of the Effective Date of the award, establish the treatment of Restricted Share Units upon the occurrence of certain events, such as (among others): change of control, termination of employment, retirement, voluntary resignation, long-term disability, death, leave of absence, and transfer to a nonparticipating Subsidiary. Such determination shall be outlined in a document approved by the Committee at time of grant, as such document may be amended from time to time by the Committee, subject to Section 11 hereof. Such document, and any amendments thereto, shall be provided to each Participant at the time of awards of Restricted Share Units or thereafter, as required.

**Section 15. Compliance with Applicable Laws** 

Any obligation of the Corporation with respect to its Shares pursuant to the terms of the Plan is subject to compliance with all applicable laws. Should the Corporation, in its sole discretion, determine that it is not feasible to make payment of a Restricted Share Unit in Shares by reason of any such laws, such obligation shall be satisfied by means of an equivalent cash payment. The Participant shall comply with all such laws and furnish the Corporation with any and all information and undertakings as may be required to ensure compliance therewith.

**Section 16. Withholding Taxes** 

The Corporation shall be entitled to deduct any amount of withholding taxes and other withholdings from any amount paid or credited hereunder.

**Section 17. Transferability** 

In no event may the rights or interests of a Participant under the Plan be assigned, encumbered, pledged, transferred or alienated in any way, except to the extent that certain rights may pass to a beneficiary or legal representative upon death of a Participant, by will or by the laws of succession and distribution.

**Section 18. Alteration of Number of Restricted Share Units Subject to the Plan** 

In the event that the Shares shall be subdivided or consolidated into a different number of Shares, or dividend shall be declared upon the Shares payable in Shares (other than a dividend which may be paid in cash or in shares at the option of the shareholder), the number of Restricted Share Units awarded to a Participant shall be adjusted by replacing such number by a number equal to the number of Shares which would be held by the Participant immediately after the dividend, subdivision or consolidation, should the Participant have held a number of Shares equal to the number of Restricted Share Units awarded to the Participant on the record date fixed for such stock dividend, subdivision or consolidation.

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In the event that the outstanding Shares shall be changed into or exchanged for a different number or kind of securities of the Corporation or of another corporation, whether through an arrangement, amalgamation or other similar statutory procedure, or a share recapitalization, then there shall be substituted for each Share referred to in the Plan the kind of securities into which each outstanding Share shall be so changed or for which each such Share shall be exchanged and an equitable adjustment shall be made, if required, in the number of Restricted Share Units then recorded in the Participant's account, such adjustment, if any, to be reasonably determined by the Committee and to be effective and binding for all purposes.

In the event there shall be any change, other than as specified above in this section, in the number or kind of outstanding Shares or of any securities into which such Shares shall have been changed or for which it shall have been changed or for which it shall have been exchanged, then there shall be substituted for each Share referred to in the Plan or for each security into which such Shares shall have been so changed or exchanged, the kind of securities into which each outstanding Share of each such security shall be so changed or exchanged and an equitable adjustment shall be made, if required, in the number of Restricted Share Units then recorded in the Participant's account such adjustment, if any, to be reasonably determined by the Committee and to be effective and binding for all purposes.

In the case of any such substitution, change or adjustment as provided for in this section, the variation shall generally require that the dollar value of the Restricted Share Units awarded to the Participant prior to such substitution, change or adjustment will be proportionately and appropriately varied so that it be equal to such dollar value after the variation.

In the event that, at the time contemplated for the purchase of Shares under the Plan, there is no public market for the Shares or for securities substituted therefore as provided by this section, the obligations of the Corporation under the Plan shall be met by a payment in cash.

**Section 19. Unfunded Plan** 

Unless otherwise determined by the Committee, the Plan shall be unfunded until payment of the Vested Restricted Share Units as set forth in Section 9 hereof.

**Section 20. Governing Law** 

The Plan shall be governed by and interpreted in accordance with the laws in force in the province of Quebec and the Federal laws applicable therein.

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**Section 21. Effective date of the Plan** 

The effective date of the Plan shall be January 1, 2004.

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**<u>Universal 409 Amendment Document</u>**

Except as may be specifically agreed to in writing by BCE, Inc. (the "**Company**") after December 31, 2008 or as may otherwise be specifically provided in an applicable plan document, for purposes of benefits or amounts covered by Section 409A of the United States Internal Revenue Code (the "**Code**") under the Share Unit Plan for Non-Employee Directors (1997), the Share Unit Plan for Senior Executives and Other Key Employees (1997), and the BCE Inc. Restricted Share Unit Plan for Executives and other Key Employees (2003) (collectively "Covered Awards"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. For any Covered Awards which are to be settled upon a director ceasing to be on the Board of Directors and an executive or other key employee having a termination of employment, as the case may be, such settlement shall occur in the year after the year in which such cessation or termination occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Any payment in settlement of a Covered Award will be delayed to the extent necessary to avoid a violation of Code Section 409A(a)(2)(B)(C);and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The term "Specified Employee" shall have the meaning ascribed thereto by Section 409A of the Code and the regulations promulgated thereunder and in determining whether an employee is a Specified Employee, the following rules shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The compensation of the Employee shall be determined in accordance with the definition of compensation
provided under Treas. Reg. Section 1.415(c)-2(d)(3) (wages within the meaning of Section 3401(a) of the Code for purposes of income tax withholding at the source, plus amounts excludible from gross
income under Sections 125(a) and 402(e)(3) of the Code).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of determining whether an Employee is a Specified Employee, the compensation of the Employee
shall be determined in accordance with the definition of compensation provided under Treas. Reg. Section 1.415(c)-2(d)(3) (wages within the meaning of Code section 3401(a) for purposes of income tax
withholding at the source, plus amounts excludible from gross income under section 125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k) or 457(b), without regard to rules that limit the remuneration included in wages based on the nature or location of
the employment or the services performed); provided, however, that, with respect to a nonresident alien who is not a Participant in the Plan, compensation shall not include compensation that is not includible in the gross income of the Employee
under Code Sections 872, 893, 894, 911, 931 and 933, provided such compensation is not effectively connected with the conduct of a trade or business within the United States. Notwithstanding anything herein to the contrary, (i) if a difference
definition of compensation has been designated by the Company with respect to another nonqualified deferred compensation plan in which a key employee participates, the definition of compensation shall be the definition provided in Treas. Reg. Section 1.409A-1(i)(2), and (ii) the Company may through action that is legally binding with respect to all nonqualified deferred compensation plans maintained by the Company, elect to use a different
definition of compensation.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of corporate transactions described in Treas. Reg. Section 1.409A-1(i)(6), the identification of Specified Employees shall be determined in accordance with the default rules described therein, unless the Company elects to utilize the available alternative
methodology through designations made within the timeframes specified therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Specified Employee Identification Date means December 31, unless the Company has elected a different
date through compensation plans maintained by the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Specified Employee Effective Date means the first day of the fourth month following the Specified Employee
Identification Date, unless a different date is selected in writing by the Company for this purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. For purposes of a Covered Award, "change in control" shall have the meaning described in the relevant plan document but no payment or settlement of a Covered Award will be made solely by reason of a change in control, as so described, unless it is also a "change in control event" as defined in the Income Tax Regulations Code under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. "termination of employment", "employment is terminated", "cessation of employment" and other similar words shall mean with respect to an employee.

"Separation from Service" as such term is defined in the Income Tax Regulations under Section 409A of the Code as modified by the rules described below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) except in the case where the employee is on a bona fide leave of absence pursuant to the Company's
policies as provided below, the employee is deemed to have incurred a Separation from Service on a date if the Company and the employee reasonably anticipate that the level of services to be performed by the employee after such date would be
permanently reduced to 20% or less of the average services rendered by the employee during the immediately preceding 36-month period (or the total period of employment, if less than 36 months), disregarding
periods during which the employee was on a bona fide leave of absence;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the employee is absent from work due to military leave, sick leave, or other bona fide leave of absence
pursuant to the Company's policies, the employee shall incur a Separation from Service on the first date that the rules of (a)(i), above, are satisfied following the later of (i) the 6 month (12 month for a disability leave of absence)
anniversary of the commencement of the leave or (ii) the expiration of the employee's right, if any, to reemployment under statute, contract or to Company policy. For this purpose, a "disability leave of absence" is an absence
due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 6 months, where such impairment causes the employee to be unable to perform
the duties of his job or a substantially similar job;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) for purposes of determining whether another organization is an Affiliate of the Company, common ownership of
at least 50% shall be determinative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Company specifically reserves the right to determine whether a sale or other disposition of substantial
assets to an unrelated party constitutes a Separation from Service with respect to an employee providing services to the seller immediately prior to the transaction and providing services to the buyer after the transaction. Such determination shall
be made in accordance with the requirements of Section 409A of the Code;

## Exhibit 23.1

**Exhibit 23.1** 

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated March 6, 2025 relating to the consolidated financial statements of BCE Inc. (the "Company") and the effectiveness of the Company's internal control over financial reporting, appearing in the Annual Report on Form 40-F of the Company for the year ended December 31, 2024.

/s/ Deloitte LLP

Chartered Professional Accountants

Toronto, Canada

February 10, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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| |
|:---|
| **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**BCE INC**  |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Security Type**  | **Security Class Title**  | **Fee Calculation Rule**  | **Amount Registered**  | **Proposed Maximum Offering Price Per Unit**  | **Maximum Aggregate Offering Price**  | **Fee Rate**  | **Amount of Registration Fee**  |
| 1 | Equity | Common shares | Other | 5100000 | $25.37 | $129387000.00 | 0.0001381 | $17868.34 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $129387000.00  |  | $17868.34  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $17868.34  |

---

 **Offering Note** <br>

<sup>1</sup> This Registration Statement on Form S-8 (this "Registration Statement") registers common shares of BCE Inc. (the "Registrant") that are authorized for issuance under (i) the BCE Inc. Share Unit Plan for Senior Executives and Other Key Employees (1997) (the "Executive DSU Plan"), (ii) the Amended and Restated BCE Inc. Share Unit Plan for Non-Employee Directors (1997) (the "Director DSU Plan") and (iii) the BCE Inc. Restricted Share Unit Plan for Executives and Other Key Employees (2004) (the "RSU Plan"). In the event of any share dividend, share split or other similar transaction involving the common shares, the number of common shares registered hereby shall automatically be adjusted in accordance with Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"). Amount Registered: Represents (i) 2,000,000 common shares reserved for issuance under the Executive DSU Plan; (ii) 100,000 common shares reserved for issuance under the Director DSU Plan and (iii) 3,000,000 common shares reserved for issuance under the RSU Plan. Proposed Maximum Offering Price Per Unit: Estimated solely for purposes of calculating the registration fee. Pursuant to Rule 457(c) and Rule 457(h) under the Securities Act, the proposed maximum offering price per unit and proposed maximum aggregate offering price are based on the reported average of the high and low prices of the Registrant's common shares as reported on the New York Stock Exchange on February 6, 2026.

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| | |
|:---|:---|
| | |
| **Rule 457(p)** | **Rule 457(p)** |
| Fee Offset Claims | N/A |
| Fee Offset Sources | N/A |

---