Document:

EX-4.1

 IMAX CORPORATION 

EXHIBIT 4.1 
 Articles of Amalgamation 
  

					
	 

     Industry Canada
	  	                Industrie Canada	  	

  

			
	 Certificate
 of
Amalgamation
	  	 Certificat
 de
fusion

		
	 Canada Business

Corporations Act
	  	 Loi canadienne sur

les sociétés par actions

  

			
	  
 IMAX CORPORATION

 
  
	 	  
 399473-2

	  
	 	  

	Name of corporation-Dénomination de la société	 	Corporation number-Numéro de la société
		
	I hereby certify that the above-named corporation resulted from an amalgamation, under section 185 of the Canada Business Corporations Act, of the corporations set out in the
attached articles of amalgamation.	 	Je certifie que la société susmentionnée est issue d’une fusion, en vertu de l’article 185 de la Loi canadienne sur les sociétés par
actions, des sociétés dont les dénominations apparaissent dans les statuts de fusion ci-joints.
		
	

	 	January 1, 2002 / le 1 janvier 2002
		
	Director - Directeur	 	Date of Amalgamation - Date de fusion

 
  
 

 

 

 
 Industry Canada Canada Business . watlons Act Industrie Canada \ Lo) canadienne sue les
sodetespar acHons FORM 9 ARTICLES OF AMALGAMATION (SECTION 185} FORMULE 9 STATUTS DE FUSION (ARTICLE 185) 1 - Name of amalgamated corporation IMAX CORPORATION Denomination do la soclete Issue de la 2 -The place In Canada where the registered office
Is to be situated The Province of Ontario Lieu au Canada od dolt Stre sltuS le sldga sodal 3 -The classes and any maximum number of shares that Categories et lout nombre maximal d’actfons que la sodet6 est the corporation Is authorized lo issue
autods6a a 6mettre The annexed Schedule I is incorporated in this form. 4 - Restrictions, if any, on share transfers Restrictions sue te transfer! des actions, s’il y a lieu None 5 -Number (or minimum and maximum number) of directors Nombre (ou
nombre minimal et maximal) d’adrnlnlstrateura A minimum of 1 and a maximum of 15. 6 -Restrictions, If any, on business the corporation may carry on Urnltes knpos6es 61’activ1t6 commerciale de la soc!6t6, sll y a lieu None 7 - Other
provisions. If any Autres dispositions, sll y a lieu The annexed Schedule II is incorporated in this form. 8-The amalgamation has been approved pursuant to that eectjon or subsection of the Act which Is Indicated as fcflows: 5 -La fusion a 616
approuvee en accord avec Particle ou le D paragraphs <Je la Lol Indlqu6 cf-apfes 183 ; [X] 184(1) niw(2): 9 - Name of the amalgamating corporations Denomination des soctetes fuslonnarrtes 3886379’JCANftDA. INC. IMAX CORPORATION Corporation
No. N” de la soci6t6 3886379 3850412 director Signature—, Date Trtle Tiire Secretary FOR DCPAKTMEKT/U. USE ONLY - A. LTJSAGE DU MINISTERS SEUUEMENT Corporation No. - N’ de la soctete 

 SCHEDULE I 
 The Corporation is authorized to issue an unlimited number of Common Shares, an unlimited number of Class C Shares, issuable in two series, and an unlimited number of Special Shares, issuable in series.
Schedule I-A attached hereto sets forth the rights, privileges, restrictions and conditions of such shares. 

  
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Tétrault TDO-CORP #6828586 / v.  1 

 SCHEDULE I-A 
 1. Definitions 
 For the purposes of this Schedule I-A: 

“Class C Issue Price” means Cdn. $100; 
 “Class C Shares” means the 7%, cumulative, redeemable, preferred, non-voting shares of the Corporation with the rights, privileges, restrictions and conditions set forth herein; 

“Common Shares” means the common shares of the Corporation with the rights, privileges, restrictions and conditions set forth
herein; 
 “Consolidated Interest Coverage Ratio” will have the meaning specified in the Indenture to be dated as of
the Issue Date between the Trustee named therein and the Corporation; 
 “Initial Public Offering” means an initial
public offering of Common Shares in the United States of America and/or Canada pursuant to the securities laws of the United States of America or any province of Canada; 
 “Issue Date” means the date of closing of the acquisition of Imax Corporation by WGIM Acquisition Corporation; 
 “Net Proceeds” means the amount received by the Corporation in cash, after the payment of all costs, expenses (including, without limitation, filing fees and legal fees and disbursements) and
commissions related thereto, from an Initial Public Offering and from any subsequent public offering or other public distribution of Common Shares by the Corporation pursuant to a prospectus filed with the Securities and Exchange Commission in the
United States of America or Canada; and 
 “Special Shares” means the special shares of the Corporation with the
rights, privileges, restrictions and conditions set forth herein. 
 2. Common Shares 

The rights, privileges, restrictions and conditions attaching to the Common Shares are as follows: 

  
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Tétrault TDO-CORP #6828586 / v.  1 

	(a)	Payment of Dividends: The holders of the Common Shares shall be entitled to receive dividends if, as and when declared by the board of directors of the Corporation out
of the assets of the Corporation properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. Subject to the rights of the holders of any other class of shares
of the Corporation entitled to receive dividends in priority to or ratably with the holders of the Common Shares, the board of directors may in their sole discretion declare dividends on the Common Shares to the exclusion of any other class of
shares of the Corporation. 

  

	(b)	Participation upon Liquidation, Dissolution or Winding-Up: In the event of the liquidation, dissolution or winding-up of the Corporation or other distribution of assets
of the Corporation among its shareholders for the purpose of winding-up its affairs, the holders of the Common Shares shall, subject to the rights of the holders of any other class of shares of the Corporation entitled to receive the assets of the
Corporation upon such a distribution in priority to or ratably with the holders of the Common Shares, be entitled to participate ratably in any distribution of the assets of the Corporation. 

 

	(c)	Voting Rights: The holders of the Common Shares shall be entitled to receive notice of and to attend all annual and special meetings of the shareholders of the
Corporation and to one vote in respect of each common share held at all such meetings. 

 3. Class C Shares 

I. The rights, privileges, restrictions and conditions attaching to the Class C Shares as a class are as follows: 

 

	(a)	Dividends and Other Distributions: 

  

	 	(i)	The holders of the Class C Shares, subject to the rights of the holders of any class of shares entitled to receive dividends and any other distributions in priority to
the holders of Class C Shares, but in priority to the holders of the Common Shares and all other shares ranking junior to the Class C Shares in respect of the payment of dividends, shall be entitled to receive and the Corporation shall, subject to
the terms hereof, pay thereon, as and when declared by the board of directors of the Corporation out of the assets of the Corporation properly applicable to the payment of dividends, fixed preferential cumulative cash dividends at the rate of
7% per annum (or such higher rate as may apply pursuant to clause 3.I.(a)(iii) hereof) on the Class C Issue Price (the “Class C Cumulative Dividends”) for each such share. Class C Cumulative Dividends shall be payable as provided in
clause 3.I.(a)(ii) hereof and shall accrue and be cumulative from the Issue Date. 

  
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Tétrault TDO-CORP #6828586 / v.  1 

	 	(ii)	No Class C Cumulative Dividends shall be declared or paid prior to the third anniversary date of the Issue Date. Thereafter, on each subsequent anniversary date of the
Issue Date, then 

  

	 	(A)	provided that the Corporation has not, prior to such third or subsequent anniversary date, received Net Proceeds equal to or greater than Cdn. $35,000,000, there shall
be declared and paid in cash Class C Cumulative Dividends, if both before and, on a pro forma basis, after giving effect to the payment of such Class C Cumulative Dividends, the Consolidated Interest Coverage Ratio of the Corporation does not exceed
2.25 to 1; and 

  

	 	(B)	if the Corporation has received Net Proceeds equal to or greater than Cdn. $35,000,000 prior to such third or a subsequent anniversary date of the Issue Date, one-half
of the Class C Cumulative Dividends as have accrued prior to such third or subsequent anniversary date immediately preceding receipt of such Net Proceeds shall be paid in cash on each of the first and second anniversary dates of the Issue Date after
such third or subsequent anniversary date, unless the aggregate amount of such payments to be paid in cash on such date would exceed Cdn. $2,000,000 in either such year, in which case one-third of such accrued Class C Cumulative Dividends shall be
declared and paid in cash on each of the first, second and third anniversary dates of the Issue Date after such third or subsequent anniversary date. 

  

	 	(iii)	If, on any anniversary date of the Issue Date after the third such anniversary date, the Class C Cumulative Dividends to be paid on such date are not paid in full in
cash and such dividends were required to have been paid in full in cash pursuant to clause 3.I.(a)(ii), above, the rate at which Class C Cumulative Dividends shall accrue and be payable after such anniversary date as provided in clause 3.I.(a)(i)
shall increase by 1% per annum, to a maximum dividend rate of 10% per annum, until such time as all Class C Cumulative Dividends have been paid in cash as provided herein, whereupon the dividend rate will revert to 7% per annum.

  

	 	(iv)	If, on any date on which Class C Cumulative Dividends are to be paid, the dividend payable on such date is not paid in full on all the Class C Shares then issued and
outstanding, such dividend, or the unpaid part thereof, shall be paid at a subsequent date or dates in priority to dividends on the Common Shares and any other shares ranking junior to the Class C Shares in respect of the payment of dividends.

  
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Tétrault TDO-CORP #6828586 / v.  1 

	 	(v)	Payment of dividends shall be made by cheque negotiable without charge at any branch of the Corporation’s bankers for the time being in Canada. The mailing of such
cheques to holders of Class C Shares shall satisfy and discharge all liability of the Corporation for such dividends to the extent of the sums represented thereby (plus any tax required to be deducted or withheld therefrom) unless such cheques are
not paid on due presentation. A dividend which is represented by a cheque which has not been presented for payment within 6 years after it was issued or that otherwise remains unclaimed for a period of 6 years from the date on which the cheque was
mailed shall be forfeited to the Corporation. 

  

	 	(vi)	Subject to the terms hereof, the holders of Class C Shares shall not be entitled to any dividends or other distributions other than or in excess of the preferential
cumulative cash dividends hereinbefore provided. 

  

	(b)	Dividends Preferential: Except with the consent in writing of the holders of all the Class C Shares outstanding, no dividend or other distribution shall be declared and
made or set apart for payment on the Common Shares or upon any other shares of the Corporation ranking junior to or on a parity with the Class C Shares as to dividends or upon liquidation, nor shall any Common Shares nor any other such shares of the
Corporation ranking junior to or on a parity with the Class C Shares as to dividends or upon liquidation, be redeemed, purchased or otherwise acquired for any consideration (or any moneys be paid to or made available for a sinking fund of the
redemption of any such shares) by the Corporation (except by conversion into or exchange for stock of the Corporation ranking junior to the Class C Shares as to dividends and as to liquidation) unless and until the accrued Class C Cumulative
Dividends on all of the Class C Shares outstanding have been declared and paid. 

  

	(c)	Participation upon Liquidation, Dissolution or Winding-Up: In the event of the liquidation, dissolution or winding-up of the Corporation or other distribution of assets
of the Corporation among its shareholders for the purpose of winding-up its affairs, whether voluntary or involuntary, the holders of the Class C Shares shall be entitled to receive from the property and assets of the Corporation an amount equal to
the aggregate Class C Redemption Amount (as hereinafter defined) of all Class C Shares held by them respectively before any distribution of any part of the property or assets of the Corporation to the holders of Common Shares or shares of any other
class ranking junior to the Class C Shares in respect of such distribution. After payment to the holders of the Class C Shares of the Class C Redemption Amount, such holders shall not be entitled to share in any further distribution of the assets of
the Corporation. 

  
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Tétrault TDO-CORP #6828586 / v.  1 

	(d)	Redemption by Corporation: The Corporation may at any time redeem the whole, or from time to time or times redeem any part of the then outstanding Class C Shares (any
of the foregoing being an “Optional Redemption”) and, on the date that is eight and one-half years after the Issue Date, shall redeem the whole of the then outstanding Class C Shares (such redemption on the date that is eight and one-half
years after the Issue Date being a “Mandatory Redemption”) on payment for each Class C Share to be redeemed of the Class C Issue Price, plus all unpaid Class C Cumulative Dividends which shall have accrued thereon and which shall be
treated as accruing to, but not including, the date of such redemption, the whole constituting and being herein referred to as the “Class C Redemption Amount”. Provided that if the Corporation is not permitted, at the date set for the
Mandatory Redemption, by virtue of applicable law, to redeem all of the Class C Shares then to be redeemed, it shall redeem, pro rata, such number of Class C Shares then called for redemption as it may then redeem. The Corporation may at any time
undertake the Optional Redemption. If there is an Optional Redemption, and less than all the Class C Shares are to be redeemed, the Class C Shares to be redeemed in such Optional Redemption shall be a pro rata portion of the Class C Shares held by
each holder on the date of such Optional Redemption. 

  

	(e)	Notice of Redemption: In respect of the redemption of Class C Shares pursuant to the provisions of clause 3.I.(d) hereof, the Corporation shall, at least 21 days (or,
if all of the holders of the Class C Shares consent, such shorter period to which they may consent) before the date specified for redemption, mail (or, with the consent of any particular holder, otherwise deliver) to each person who, at the date of
mailing (or delivery, as the case may be) is a holder of Class C Shares to be redeemed a notice in writing of the intention of the Corporation to redeem such Class C Shares. Such notice shall (subject to the consent of any particular holder referred
to above) be mailed by letter, postage prepaid, addressed to each such holder at his address as it appears on the records of the Corporation or, in the event of the address of any such holder not so appearing, then to the last known address of such
holder; provided, however, that accidental failure to give any such notice to one or more of such holders shall not affect the validity of such redemption; but if such failure is discovered, notice as aforesaid shall be given forthwith to such
holder or holders and shall have the same force and effect as if given in due time, provided that such notice shall not extend the date specified for such redemption. Such notice shall set out the number of Class C Shares held by the person to whom
it is addressed which are to be redeemed; the aggregate Class C Redemption Amount to which such holder is entitled; the date on which redemption is to take place; and the place or places in Canada at which the holders of Class C Shares may present
and surrender the certificates representing such shares for redemption. 

  

	(f)	 Payment of Class C Redemption Amount: On the date so specified for redemption, the Corporation shall pay or cause to be paid to or to the order of the
holders of the Class C Shares to be redeemed the Class C Redemption Amount thereof on presentation and surrender at the registered office of the Corporation or any other place designated in such notice of the certificates representing the Class C
Shares called for redemption. Such payment shall be made by cheque payable at par at any branch of the 

  
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Tétrault TDO-CORP #6828586 / v.  1 

	 	
Corporation’s bankers in Canada. From and after the date specified for redemption in any such notice the holders of the Class C Shares called for redemption shall cease to be entitled to
dividends and shall not be entitled to exercise any of the rights of holders of Class C Shares in respect thereof unless payment of the Class C Redemption Amount is not made upon presentation of certificates in accordance with the foregoing
provisions, in which case the rights of the holders of the said Class C Shares shall remain unaffected. The Corporation shall have the right at any time after the mailing (or delivery, as the case may be) of notice of its intention to redeem any
Class C Shares to deposit the Class C Redemption Amount of the shares so called for redemption to a special account in any chartered bank or in any trust company in Canada, named in such notice, to be paid without interest to or to the order of the
respective holders of such Class C Shares called for redemption upon presentation and surrender to such bank or trust company of the certificates representing the same, and upon such deposit being made, the rights of the holders thereof after such
deposit or such redemption date, whichever is the earlier, shall be limited to receiving without interest their proportionate part of the total Class C Redemption Amount so deposited against presentation and surrender of the said certificates held
by them respectively, and any interest allowed on such deposit shall belong to the Corporation. 

  

	(g)	Voting Rights: Except as otherwise provided by law, the holders of the Class C Shares shall not, as such, be entitled to receive notice of or to attend any meeting of
shareholders of the Corporation and shall not be entitled to vote at any such meeting. Without limiting the generality of the foregoing, the holders of the Class C Shares shall not be entitled to vote separately as a class on any proposal to amend
the Articles of the Corporation to: 

  

	 	(i)	increase or decrease any maximum number of authorized Class C Shares, or increase any maximum number of authorized shares of a class having rights or privileges equal
or superior to the Class C Shares; or 

  

	 	(ii)	effect an exchange, reclassification or cancellation of all or part of the Class C Shares; or 

 

	 	(iii)	create a new class of shares equal or superior to the Class C Shares. 

  

	(h)	 Series: The Class C Shares are issuable in two series, with an unlimited number of Class C Shares, Series 1, constituting the first series and an
unlimited number of Class C Shares, Series 2, constituting the second series. Class C Shares, Series 2 shall only be issued as a result of the conversion of Class C Shares, Series 1 into Class C Shares, Series 2. Immediately prior to any such
conversion, the directors shall by resolution fix (i) the number of Class C Shares, Series 2 to be issued as such number as shall equal the number of Class C Shares, Series 1 which are to be converted into Class C Shares, Series 2; and
(ii) the number of votes which each Class C Share, Series 2 shall 

  
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Tétrault TDO-CORP #6828586 / v.  1 

	 	
have attached to it, which number shall be such number as the directors shall by resolution, in their discretion, determine, to a maximum number of votes for all of the Class C Shares, Series 2
to be issued upon the conversion of the Class C Shares, Series 1, which shall not exceed, in the aggregate, 35% of the votes attached to all voting shares of the Corporation which will be outstanding immediately following such conversion.

 II. Class C Shares, Series 1 
 In addition to the rights, privileges, restrictions and conditions attaching to the Class C Shares as a class, the Class C Shares, Series 1 shall have the following rights, privileges, restrictions and
conditions: 
  

	(a)	Mandatory Conversion: 

  

	 	(i)	Mandatory Conversion: All, but not less than all, of the Class Shares, Series 1 of the Corporation may, on such date as may be determined by the directors of the
Corporation by resolution in their sole discretion, be converted into the same number of Class C Shares, Series 2 as are outstanding on the date set for conversion on the basis of one Class C Share, Series 2 for each Class C Share, Series 1.

  

	 	(ii)	Directors to Fix Number, Votes: Prior to giving the notice of conversion provided for in clause 3.II.(a)(iii), the directors shall by resolution have fixed (i) the
number of Class C Shares, Series 2 to be issued as set forth in clause 3.I.(h); and (ii) the number of votes which each Class C Share, Series 2 shall have attached to it, as set forth in clause 3.I.(h). 

 

	 	(iii)	Notice of Conversion: In respect of the conversion of Class C Shares, Series 1 pursuant to the provisions of clause 3.II.(a)(i) hereof, the Corporation shall at least
21 days before the date specified for conversion mail or deliver to each person who at the date of mailing (or delivery, as the case may be) is a holder of Class C Shares, Series 1 to be converted a notice in writing of the intention of the
Corporation to convert such Class C Shares, Series 1 into Class C Shares, Series 2. Such conversion shall take place on such date as is specified in the said notice, which date shall not be less than 21 days following the date of said notice.
Effective on such date, the holder of the Class C Shares, Series 1 being converted shall be deemed to have become, and shall be registered as, the holder of the Class C Shares, Series 2 resulting from the conversion and shall cease to be registered
as a holder of the Class C Shares, Series 1 converted. The Corporation shall specify in such notice the date on which the conversion is to occur, the number of Class C Shares, Series 1 held by the person to whom it is addressed to be converted, the
number of Class C Shares, 

  
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Tétrault TDO-CORP #6828586 / v.  1 

	 	
Series 2 to be issued upon such conversion, the date upon which the conversion will occur and that the holder of Class C Shares, Series 1 shall have become the registered holder of the Class C
Shares, Series 2 resulting from the conversion on such date. Such notice shall be mailed by letter, postage prepaid, addressed to each such holder at his address as it appears on the records of the Corporation or in the event of the address of any
such holder not so appearing then to the last known address of such holder; provided, however, that accidental failure to give any such notice to one or more of such holders shall not affect the validity of such conversion; but if such failure is
discovered, notice as aforesaid shall be given forthwith to such holder or holders and shall have the same force and effect as if given in due time, provided that such notice shall not extend the date specified for such conversion.

 III. Class C Shares, Series 2 
 In addition to the rights, privileges, restrictions and conditions attaching to the Class C Shares as a class, the Class C Shares, Series 2 shall have the following rights, privileges, restrictions and
conditions: 
  

	(a)	Voting Rights: The holders of the Class C Shares, Series 2 shall be entitled to receive notice of and to attend all annual and special meeting of the shareholders of
the Corporation and to such number of votes for each Class C Share, Series 2, held by them as shall have been fixed by the directors by resolution prior to the issue of Class C Shares, Series 2, as set forth in clause 3.I.(h).

 4. Special Shares 
 The rights, privileges, restrictions and conditions attaching to the Special Shares are as follows: 
  

	(a)	Series: The Special Shares may at any time or from time to time be issued in one or more series. The board of directors of the Corporation may from time to time before
the issue thereof fix the number of shares in, and determine the designation, rights, privileges, restrictions and conditions attaching to the shares of, each series of Special Shares. 

 

	(b)	Priority: The Special Shares shall be entitled to priority over the Class C Shares and the Common Shares and all other shares ranking junior to the Special Shares with
respect to the payment of dividends and the distribution of assets of the Corporation in the event of any liquidation, dissolution or winding-up of the Corporation or other distribution of assets of the Corporation among its shareholders for the
purpose of winding-up its affairs. 

  
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Tétrault TDO-CORP #6828586 / v.  1 

	(c)	Voting Rights: Except as otherwise provided by law, the holders of the Special Shares shall not, as such, be entitled to receive notice of or to attend any meeting of
the shareholders of the Corporation and shall not be entitled to vote at any such meeting. Without limiting the generality of the foregoing, the holders of the Special Shares shall not be entitled to vote separately as a class on any proposal to
amend the Articles of the Corporation to: 

  

	 	(i)	increase or decrease any maximum number of authorized Special Shares, or increase any maximum number of authorized shares of a class having rights or privileges equal
or superior to the Special Shares; or 

  

	 	(ii)	effect an exchange, reclassification or cancellation of all or part of the Special Shares; or 

 

	 	(iii)	create a new class of shares equal or superior to the Special Shares. 

  
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Tétrault TDO-CORP #6828586 / v.  1 

 SCHEDULE II 

 

	1.	The number of directors of the Corporation at any time shall be such number within the minimum and maximum number of directors set forth in the articles of the
Corporation as is determined from time to time by resolution of the directors in light of the Corporation’s contractual obligations in effect from time to time. 

 

	2.	Subject to the Act and Corporation’s contractual obligations then in effect, the directors may fill any vacancies among the directors, whether arising due to an
increase in the number of directors within the minimum and maximum number of directors set forth in the articles of the Corporation or otherwise. 

  

	3.	The directors shall be divided into three classes, with one-third of the directors to be elected for a term of one year, one-third for a term of two years and one-third
for a term of three years, so that the term of office of one-third of the directors shall expire each year. At each election of directors after the effective date hereof to elect directors whose terms have expired, directors shall be elected for a
term of three years. In any election or appointment of a director to fill a vacancy created by any director ceasing to hold office, the election or appointment shall be for the unexpired term of the director who has ceased to hold office. If the
number of directors is changed, any increase or decrease shall be apportioned among the classes of directors in such a manner as will maintain or attain, to the extent possible, an equal number of directors in each class of directors. If such
equality is not possible, the increase or decrease shall be apportioned among the classes of directors in such a manner that the difference in the number of directors in any two classes shall not exceed one. 

 

	4.	If at any time or from time to time any single shareholder, together with each “affiliate” “controlled” by that shareholder (as such terms are
defined in Rule 12b-2 under the Securities and Exchange Act of 1934 (United States) (the “Exchange Act”) or any group of which they are members, “beneficially owns” (as such term is defined pursuant to Section 13(d)
of the Exchange Act) not less than twelve and one-half per cent (12.5%) of the common shares issued and outstanding at that time, then for as long as that condition continues, in order for any resolution of the directors on any of the following
matters to be approved by the directors, such resolution must be approved by a seventy-five per cent (75%) majority of the directors then in office; 

  
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Tétrault TDO-CORP #6828589 / v.  1 

	a.	Hiring or terminating the employment of the chief executive officer or any co-chief executive officer of the Corporation; 

 

	b.	Issuing any shares of capital stock for a purchase price, or incurring indebtedness, in an amount of US$25 million or more; 

 

	c.	Disposing of any material single asset, or all or substantially all of the assets of the Corporation or approving the sale or merger of the Corporation;

  

	d.	Acquiring a substantial interest in any other entity or entering into any major strategic alliance; and 

 

	e.	Entering into or changing the terms of any agreement or transaction with Wasserstein Perella Partners, L.P., Wasserstein Perella Offshore Partners, L.P., WPPN Inc.,
Richard L. Gelfond or Bradley J. Wechsler (other than agreements in the ordinary course of business, such as employment agreements). 

  
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Tétrault TDO-CORP #6828589 / v.  1 

  
 - 2 -

					
	

	  	Industry Canada	  	Industrie Canada

  

			
	 Certificate
 of
Amendment
	  	 Certificat
 de
modification

		
	 Canada Business

Corporations Act
	  	 Loi canadienne sur

les sociétés par actions

  

					
			
	 IMAX CORPORATION
  
	  		  	 399473-2

 

	Name of corporation-Dénomination de la société	  		  	Corporation number-Numéro de la société
			
	 I hereby certify that the articles of the above-named corporation were amended:

 
	  		  	Je certifie que les statuts de la société susmentionnée ont été modifiés:
	 a)      under section 13 of the Canada Business Corporations Act in accordance with the attached
notice;
	  	  ̈      
	  	 a)      en vertu de 1’article 13 de la Loi canadienne sur les sociétés par
actions, conformément à 1’avis ci-joint;

			
	 b)      under section 27 of the Canada Business Corporations Act as set out in the attached
articles of amendment designating a series of shares;
	  	  ̈      
	  	 b)      en vertu de 1’article 27 de la Loi canadienne sur les sociétés par
actions, tel qu’il est indiqué dans les clauses modificatrices ci-jointes désignant une série d’actions;

			
	 c)      under section 179 of the Canada Business Corporations Act as set out in the attached
articles of amendment;
	  	 þ      
	  	 c)      en vertu de 1’article 179 de la Loi canadienne sur les sociétés par
actions, tel qu’il est indiqué dans les clauses modificatrices ci-jointes;

			
	 d)      under section 191 of the Canada Business Corporations Act as set out in the attached
articles of reorganization;
	  	  ̈      
	  	 d)      en vertu de 1’article 191 de la Loi canadienne sur les sociétés par
actions, tel qu’il est indiqué dans les clauses de réorganisation ci-jointes;

  

					
	 

 Director - Directeur
	  		  	  
 June 25, 2004 / le 25 juin 2004

              Date of
Amendment - Date de modification

 
  
 

 

									
	 

	  	Industry Canada	  	Industrie Canada	  	ELECTRONIC TRANSACTION REPORT	  	RAPPORT DE LA TRANSACTION ÉLECTRONIQUE
		  	 Canada Business

Corporations Act
	  	 Loi canadienne sur les

sociétés par actions
	  	ARTICLES OF AMENDMENT (SECTIONS 27 OR 177)	  	CLAUSES MODIFICATRICES (ARTICLES 27 OU 177)

  

			
	Processing Type - Mode de traitement:             E-Commerce/Commerce-É

		
	1. Name of Corporation - Dénomination de la société	  	2. Corporation No. - N° de la société
		
	 IMAX CORPORATION
	  	                            
399473-2

  

	3.	The articles of the above-named corporation are amended as follows: 

	    	Les statuts de la société mentionnée ci-dessus sont modifiés de la facon suivante: 

That the Certificate and Articles of Amalgamation dated January 1, 2002 of the Corporation be amended by deleting Schedule I including I-A of
Article 3 and Schedule II of Article 7 thereof and replacing those schedules with the following Schedule I including I-A and Schedule II: 

SCHEDULE I 
 The Corporation is authorized to
issue an unlimited number of Common Shares and an unlimited number of Special Shares, issuable in series. Schedule I-A sets forth the rights, privileges, restrictions and conditions of such shares. 

SCHEDULE I-A 
 1. Common Shares 

The rights, privileges, restrictions and conditions attaching to the Common Shares are as follows: 

(a) Payment of Dividends: The holders of the Common Shares shall be entitled to receive dividends if, as and when declared by the Board of Directors of
the Corporation out of the assets of the Corporation properly applicable to the payment of dividends in such amounts and payable in such manner as the Board of Directors may from time to time determine. Subject to the rights of the holders of any
other class of shares of the Corporation entitled to receive dividends in priority to or ratably with the holders of the Common Shares, the Board of Directors may in their sole discretion declare dividends on the Common Shares to the exclusion of
any other class of shares of the Corporation. 
 (b) Participation upon Liquidation, Dissolution or Winding-Up: In the event of the liquidation,
dissolution or winding-up of the Corporation or other distribution of assets of the Corporation among its shareholders for the purpose of winding-up its affairs, the holders of the Common Shares shall, subject to the rights of the holders of any
other class of shares of the Corporation entitled to receive the assets of the Corporation upon such a distribution in priority to or ratably with the holders of the Common Shares, be entitled to participate ratably in any distribution of the assets
of the Corporation. 
 (c) Voting Rights: The holders of the Common Shares shall be entitled to receive notice of and to attend all annual and
special meetings of the shareholders of the Corporation and to one vote in respect of each Common Share held at all such meetings. 
 2. Special
Shares 
 The rights, privileges, restrictions and conditions attaching to the Special Shares are as follows: 

(a) Series: The Special Shares may at any time or from time to time be issued in one or more series. The Board of Directors of the Corporation may from
time to time before the issue thereof fix the number of shares in, and determine the designation, rights, privileges, restrictions and conditions attaching to the shares of, each series of Special Shares. 

 (b) Priority: The Special Shares shall be entitled to priority over the Common Shares and all other shares
ranking junior to the Special Shares with respect to the payment of dividends and the distribution of assets of the Corporation in the event of any liquidation, dissolution or winding-up of the Corporation or other distribution of assets of the
Corporation among its shareholders for the purpose of winding-up its affairs. 
 (c) Voting Rights: Except as otherwise provided by law, the
holders of the Special Shares shall not, as such, be entitled to receive notice of or to attend any meeting of the shareholders of the Corporation and shall not be entitled to vote at any such meeting. Without limiting the generality of the
foregoing, the holders of the Special Shares shall not be entitled to vote separately as a class on any proposal to amend the Articles of the Corporation to: 
 (i) increase or decrease any maximum number of authorized Special Shares, or increase any maximum number of authorized shares of a class having rights or privileges equal or superior to the Special
Shares; or 
 (ii) effect an exchange, reclassification or cancellation of all or part of the Special Shares; or 

(iii) create a new class of shares equal or superior to the Special Shares. 
 SCHEDULE II 
 1. The number of directors of the Corporation at any time shall be such number within
the minimum and maximum number of directors set forth in the articles of the Corporation as is determined from time to time by resolution of the directors in light of the Corporation’s contractual obligations in effect from time to time.

 2. Subject to the Canada Business Corporations Act and the Corporation’s contractual obligations then in effect, the directors may fill
any vacancies among the directors, whether arising due to an increase in the number of directors within the minimum and maximum number of directors set forth in the articles of the Corporation or otherwise. 

3. The directors shall be divided into three classes and for a term of three years. In any election or appointment of a director to fill a vacancy
created by any director ceasing to hold office, the election or appointment shall be for the unexpired term of the director who has ceased to hold office. If the number of directors is changed, any increase or decrease shall be apportioned among the
classes of directors in such a manner as will maintain or attain, to the extent possible, an equal number of directors in each class of directors. If such equality is not possible, the increase or decrease shall be apportioned among the classes of
directors in such a manner that the difference in the number of directors in any two classes shall not exceed one. 
 4. Meetings of
shareholders may be held in New York, New York; Los Angeles, California; Chicago, Illinois; Houston, Texas; Philadelphia, Pennsylvania; San Diego, California; Dallas, Texas; Phoenix, Arizona; Detroit, Michigan; San Antonio, Texas and Washington, DC;
or in any place in Canada that the directors from time to time determine. 
  

							
	Date	  	Name - Nom	  	Signature	  	Capacity of - en qualité
	2004-06-25	  	G. MARY RUBY	  		  	AUTHORIZED OFFICER

  
 

 

  
 Page 2 of 2

					
	 

	 	 Industry

Canada
	 	 Industrie

Canada

  

			
	Certificate of Amendment	  	Certificat de modification
	Canada Business Corporations Act	  	Loi canadienne sur les sociétés par actions

 IMAX CORPORATION 

 
 Corporate name /
Dénomination sociale 
 399473-2 

 
 Corporation
number / Numéro de société 
  

			
	I HEREBY CERTIFY that the articles of the above-named corporation are amended under section 178 of the Canada Business Corporations Act as set out in the attached articles of
amendment.	  	JE CERTIFIE que les statuts de la société susmentionnée sont modifiés aux termes de 1’article 178 de la Loi canadienne sur les
sociétés par actions, tel qu’il est indiqué dans les clauses modificatrices ci-jointes.

  
  
  

 
 Marcie Girouard 

 
 Director /
Directeur 
 2013-06-11 

 
 Date of Amendment
(YYYY-MM-DD) 
 Date de modification (AAAA-MM-JJ) 

  
 

 

									
	

	  	 Industry

Canada
	  	 Industrie

Canada
	  	 Form 4
 Articles of Amendment

Canada Business Corporations Act
 (CBCA)(s.27 or 177)
	  	 Formulaire 4
 Clauses modificatrices

Loi canadienne sur les sociétés par

actions (LCSA) (art. 27 ou 177)

  
  

	1	Corporate name 

Dénomination sociale 
 IMAX CORPORATION 
  

 

	2	Corporation number 

Numéro de la société 
 399473-2 
  

 

	3	The articles are amended as follows 

 Les statuts sont modifiés de la façon suivante 
 The corporation
amends the other provisions as follows: 
 Les autres dispositions sont modifiées comme suit: 

See attached schedule / Voir l’annexe ci-jointe 
  

 

	4	Declaration: I certify that I am a director or an officer of the corporation. 

 Déclaration : J’atteste que je suis un administrateur ou un dirigeant de la société. 
  

			
		  	 Original signed by / Original signé par

G. Mary Ruby

		  	 G. Mary Ruby
 905-403-6404

 Misrepresentation constitutes an offence and, on summary conviction, a person is liable to a fine not exceeding $5000 or
to imprisonment for a term not exceeding six months or both (subsection 250 (l) of the CBCA). 
 Faire une fausse déclaration
constitue une infraction et son auteur, sur déclaration de culpabilité par procédure sommaire, est passible d’une amende maximale de 5 000 $ et d’un emprisonnement maximal de six mois, ou l’une de ces peines
(paragraphe 250(1) de la LCSA). 
 You are providing information required by the CBCA. Note that both the CBCA and the Privacy Act allow
this information to be disclosed to the public. It will be stored in personal information bank number IC/PPU-049. 
 Vous fournissez des
renseignements exigés par la LCSA. II est à noter que la LCSA et la Loi sur les renseignements personnels permettent que de tels renseignements soient divulgués au public. Its seront stockés dans la banque de
renseignements personnels numéro IC/PPU-049. 

  

			
	

	  	IC 3069 (2008/04)

 Schedule / Annexe 

Other Provisions / Autres dispositions 
 That the Certificate and Articles of Amendment dated June 25, 2004 of the Corporation be amended by deleting Schedule II and substituting Schedule II with the following Schedule II: 

SCHEDULE II 
 1. The number of directors of the
Corporation at any time shall be such number within the minimum and maximum number of directors set forth in the articles of the Corporation as is determined from time to time by resolution of the directors in light of the Corporation’s
contractual obligations in effect from time to time. 
 2. Subject to the Canada Business Corporations Act and the Corporation’s
contractual obligations then in effect, the directors may fill any vacancies among the directors, whether arising due to an increase in the number of directors within the minimum and maximum number of directors set forth in the articles of the
Corporation or otherwise. 
 3. Directors elected at a meeting of shareholders will hold offices until the next annual meeting of shareholders
or until their successors are elected or appointed. 
 4. Meetings of shareholders may be held in New York, New York; Los Angeles, California;
Santa Monica, California; San Diego, California; Chicago, Illinois; Houston, Texas; San Antonio, Texas; Dallas, Texas; Philadelphia, Pennsylvania; Phoenix, Arizona; Detroit, Michigan; and Washington, DC; or in any place in Canada that the directors
from time to time determine.EX-4.2

 IMAX CORPORATION 

EXHIBIT 4.2 
 BY-LAW NO. 1 
 A by-law regulating generally the transaction of the business
and affairs of IMAX Corporation. 
 Section 1 

INTERPRETATION 
  

	1.1	Definitions. In this by-law, which may be cited as the By-law, unless the context otherwise requires: 

“Act” means the Canada Business Corporations Act, R.S.C. 1985, C. 44 and any statute that may be substituted therefor, as
from time to time amended; 
 “Articles” includes the original or restated articles of incorporation, articles of
amendment, articles of amalgamation, articles of continuance, articles of reorganization, articles of arrangement and articles of revival of the Corporation; 
 “Board” means the Board of Directors of the Corporation; 

“Corporation” means IMAX Corporation; 
 “meeting of shareholders” means any meeting of shareholders including an annual meeting and a special meeting; 
 “non-business day” means Saturday, Sunday and any other day that is a holiday as defined in the Interpretation Act (Canada); 

“recorded address” means in the case of a shareholder his address as recorded in the securities register; and in the case of
joint shareholders the address appearing in the securities register in respect of such joint holding or the first address so appearing if there are two or more; and in the case of a director, officer or auditor, his latest address as recorded in the
records of the Corporation. 
  

	1.2	Construction. Save as aforesaid, words and expressions defined in the Act have the same meanings when used herein; and words importing the singular include the
plural and vice versa; words importing gender include the masculine, feminine and neuter genders; and words importing persons include individuals, bodies corporate, partnerships, associations, trusts, executors, administrators, legal
representatives, and unincorporated organizations and any number or aggregate of persons. 

 Section 2

 MEETINGS OF SHAREHOLDERS 
  

	2.1	Meetings of Shareholders. The annual meeting of shareholders shall be held in each year on a date to be determined by the Board. The Board, the Chairman, a
Vice-Chairman, the Chief Executive Officer, may call a special meeting of shareholders, at any time. 

  

	2.2	Chairman, Secretary and Scrutineers. The chairman of any meeting of shareholders shall be the first mentioned of such of the following officers who is present at
the meeting: the Chairman, the Chief Executive Officer, a Vice-Chairman or a Vice-President who is a director of the Corporation. If no such officer is present within fifteen minutes from the time fixed for holding the meeting, the persons present
and entitled to vote shall choose one of their number to act as chairman. The secretary of any meeting of shareholders shall be the Secretary of the Corporation. If the Secretary is absent, the chairman shall appoint some person, who need not be a
shareholder, to act as secretary of the meeting. The chairman may appoint one or more persons who need not be shareholders to act as scrutineers at the meeting. 

	2.3	Persons Entitled to be Present. The only persons entitled to be present at a meeting of shareholders shall be those entitled to vote thereat, the directors, the
auditors of the Corporation and others who, although not entitled to vote, are entitled or required under any provision of the Act or the Articles to be present. Any other person may be admitted with the consent of the meeting or of the chairman of
the meeting. 

  

	2.4	Quorum. Except as otherwise provided in the Articles, a quorum for the transaction of business at any meeting of shareholders shall be at least two persons
present in person, each being a shareholder entitled to vote thereat or a duly appointed proxyholder for such a shareholder and together holding or representing by proxy not less than 33-1/3% of the outstanding shares of the Corporation entitled to
be voted at the meeting. 

  

	2.5	Procedures at Meetings. The Board may determine the procedures to be followed at any meeting of shareholders including, without limitation, the rules of order.
Subject to the foregoing, the chairman of a meeting may determine the procedures of the meeting in all respects. 

Section 3 
 DIRECTORS 
  

	3.1	Number of Directors; Filling Vacancies. Subject to the Act and the Articles the number of directors of the Corporation may be fixed from time to time by
resolution of the Board, and any vacancies on the Board, whether arising due to an increase in the number of directors or otherwise, may be filled by the Board. 

 

	3.2	Term of Office. Subject to Section 3.3 hereof, each director shall be elected for a term as provided in the Articles. 

 

	3.3	Qualification of Directors. In addition to the disqualifications provided for in the Act, a director who is a salaried officer of the Corporation other than the
Chief Executive Officer, the Chairman, or a Vice-Chairman, shall cease to hold office as a director when he ceases to be a salaried officer of the Corporation. 

 

	3.4	Quorum. A majority of the directors holding office at any particular time shall constitute a quorum of the Board. 

 

	3.5	Meeting Following Annual Meeting. The Board shall meet without notice as soon as practicable after each annual meeting of shareholders to transact such business
as may come before the meeting and to appoint by election: 

  

	 	(1)	the Chairman; 

  

	 	(2)	the Chief Executive Officer; 

  

	 	(3)	the Secretary; 

  

	 	(4)	one or more Vice-Presidents; and 

  

	 	(5)	such other officers as the Board chooses to appoint. 

 Each of the officers appointed by the Board, whether at the meeting of the Board after the annual meeting of shareholders or at any other meeting shall perform such duties and have such powers as are
customarily performed and held by such officers, subject to any limitations or specific duties required to be performed or specific powers bestowed by the Board from time to time. 

 

	3.6	Other Meetings of the Board. Meetings of the board shall be held from time to time at a date, time and place determined by the Chairman, a Vice-Chairman or any
two of the directors, provided however, that other than for regular quarterly meetings of the board and the meeting following the annual meeting of shareholders. 

  
 2 

	3.7	Notice of Meeting. Notice of the time and place of each meeting of the Board requiring notice shall be given to each director not less than forty-eight
(48) hours before the time at which the meeting is to be held. 

  

	3.8	Chairman. The chairman of any meeting of the Board shall be the first mentioned of such of the following officers who is present at the meeting: the Chairman,
the Chief Executive Officer, a Vice-Chairman or a Vice-President who is a director of the Corporation. If no such officer is present, the directors present shall choose one of their number to act as chairman. 

 

	3.9	Votes to Govern. Subject to the Articles and this by-law at all meetings of the Board, every question shall be decided by a majority of the votes cast. The
chairman of any meeting may vote as a director and, in the event of an equality of votes, the chairman shall not be entitled to a second or casting vote. 

  

	3.10	Remuneration. No director who is a salaried officer of the Corporation shall be entitled to any remuneration for the performance of his duties as a director. If
any director or officer of the Corporation shall be employed by or shall perform services for the Corporation otherwise than as a director or officer or shall be a member of a firm or a shareholder, director or officer of a body corporate which is
employed by or performs services for the Corporation, the fact of his being a director or officer of the Corporation shall not disentitle such director or officer or such firm or body corporate, as the case may be, from receiving proper remuneration
for such services. 

  

	3.11	Interest of Directors and Officers Generally in Contracts. No director or officer shall be disqualified by his office from contracting with the Corporation nor
shall any contract or arrangement entered into by or on behalf of the Corporation with any director or officer or in which any director or officer is in any way interested be liable to be voided nor shall any director or officer so contracting or
being so interested be liable to account to the Corporation for any profit realized by any such contract or arrangement by reason of such director or officer holding that office or of the fiduciary relationship thereby established; provided that the
director or officer shall have complied with the provisions of the Act. 

 Section 4 

COMMITTEES 
  

	4.1	Committees. The Board shall, from time to time, appoint members of an audit, compensation, governance and nominating committees and such additional committees as
it deems necessary and, subject to the Act, delegate to the committees such powers of the Board and assign to the committees such duties, as the Board considers appropriate. 

 

	4.2	Composition of Committees. To the extent required by regulatory requirements applicable to the Corporation, all of the members of the audit, compensation,
governance and nominating committees shall be directors who are independent directors for the purposes of such regulatory requirements applicable to the Corporation. 

 

	4.3	Operation of Committees. In the case of each committee, a majority of members holding office at any particular time shall constitute a quorum for the transaction
of business at that time. The Board shall appoint a chairman of each committee. Each committee shall meet at the call of its chairman, on not less than forty-eight (48) hours’ notice to each member of the committee prior to the date on
which the meeting is to be held. All acts or proceedings of any committee shall be reported to the Board at or before the next meeting thereof. 

  
 3 

 Section 5 

THE TRANSACTION OF BUSINESS 
  

	5.1	Execution of Instruments. Contracts, documents or instruments in writing requiring execution by the Corporation shall be signed by any two officers or directors,
and all contracts, documents or instruments in writing so signed shall be binding upon the Corporation without any further authorization or formality. The board is authorized from time to time by resolution to appoint any officer or officers or any
other person or persons on behalf of the Corporation to sign and deliver either contracts, documents or instruments in writing generally or to sign either manually or by facsimile signature and deliver specific contracts, documents or instruments in
writing. Contracts, documents or instruments in writing that are to be signed by hand may be signed electronically. The term “contracts, documents or instruments in writing” as used in this by-law shall include deeds, mortgages, charges,
conveyances, powers of attorney, transfers and assignments of property of all kinds including specifically but without limitation transfers and assignments of shares, warrants, bonds, debentures or other securities and all paper writings.

  

	5.2	Banking Arrangements. The banking business of the Corporation, or any part thereof, shall be transacted with such banks, trust companies or other financial
institutions as the board may designate, appoint or authorize from time to time by resolution and all such banking business, or any part thereof, shall be transacted on the Corporation’s behalf by such one or more officers and/or other persons
as the board may designate, direct or authorize from time to time by resolution and to the extent therein provided. 

 Section 6 
 DIVIDENDS 

 

	6.1	Dividends. The Board may from time to time declare dividends payable to shareholders according to their respective rights. 

 

	6.2	Dividend Payment. A dividend payable in money may be paid by cheque, wire transfer or any other electronic means, drawn on the Corporation’s bankers, or one
of them, to the order of each registered holder of shares of a class or series in respect of which the dividend has been declared, and mailed by prepaid ordinary mail to such registered holder at his recorded address. In the case of joint holders
the cheque shall, unless such joint holders otherwise direct, be made payable to the order of all of such joint holders and mailed to them at their recorded address. The Corporation may pay a dividend by cheque to a registered holder or to joint
holders other than in the manner herein set out, if the registered holder or joint holders so request. 

  

	6.3	Idem. The Corporation may, when so directed by a registered holder of a share in respect of which a dividend in money has been declared, pay the dividend in the
manner so directed. 

  

	6.4	Non-receipt or Loss of Dividend Cheques. In the event of non-receipt or loss of any dividend cheque by the person to whom it is sent, the Corporation shall issue
to such person a replacement cheque for a like amount on such terms as to indemnity, reimbursement of expenses and evidence of non-receipt or loss and of entitlement as the Board or the Vice-President in charge of finance may from time to time
prescribe, whether generally or in a particular case. 

  
 4 

 Section 7 

PROTECTION OF DIRECTORS AND OFFICERS 
  

	7.1	Indemnification of Directors and Officers. The Corporation shall indemnify a director or officer of the Corporation, a former director or officer of the
Corporation or a person who acts or acted at the Corporation’s request as a director or officer of a body corporate of which the Corporation is or was a shareholder or creditor, and his heirs and legal representatives to the extent permitted by
the Act. 

  

	7.2	Indemnity of Others. Except as otherwise required by the Act and subject to paragraph 7.1, the Corporation may from time to time indemnify and save harmless any
person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the
Corporation) by reason of the fact that he is or was an employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee, agent of or participant in another body corporate, partnership,
joint venture, trust or other enterprise, against expenses (including legal fees), judgments, fines and any amount actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted honestly and in good faith with
a view to the best interests of the Corporation and, with respect to any criminal or administrative action or proceeding that is enforced by a monetary penalty, had reasonable grounds for believing that his conduct was lawful. The termination of any
action, suit or proceeding by judgment, order, settlement or conviction shall not, of itself, create a presumption that the person did not act honestly and in good faith with a view to the best interests of the Corporation and, with respect to any
criminal or administrative action or proceeding that is enforced by a monetary penalty, had no reasonable grounds for believing that his conduct was lawful. 

 

	7.3	Right of Indemnity Not Exclusive. The provisions for indemnification contained in the by-laws of the Corporation shall not be deemed exclusive of any other
rights to which any person seeking indemnification may be entitled under any agreement, vote of shareholders or directors or otherwise, both as to action in his official capacity and as to action in another capacity, and shall continue as to a
person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs and legal representatives of such a person. 

  

	7.4	No Liability of Directors or Officers for Certain Matters. To the extent permitted by law, no director or officer for the time being of the Corporation shall be
liable for the acts, receipts, neglects or defaults of any other director or officer or employee or for joining in any receipt or act for conformity or for any loss, damage or expense happening to the Corporation through the insufficiency or
deficiency of title to any property acquired by the Corporation or for or on behalf of the Corporation or for the insufficiency or deficiency of any security in or upon which any of the moneys of or belonging to the Corporation shall be placed out
or invested or for any loss or damage arising from the bankruptcy, insolvency or tortious act of any person, firm or body corporate with whom or which any moneys, securities or other assets belonging to the Corporation shall be lodged or deposited
or for any loss, conversion, misapplication or misappropriation of or any damage resulting from any dealings with any moneys, securities or other assets belonging to the Corporation or for any other loss, damage or misfortune whatever which may
happen in the execution of the duties of his respective office or trust or in relation thereto unless the same shall happen by or through his failure to act honestly and in good faith with a view to the best interests of the Corporation and in
connection therewith to exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. If any director or officer of the Corporation shall be employed by or shall perform services for the
Corporation otherwise than as a director or officer or shall be a member of a firm or a shareholder, director or officer of a body corporate which is employed by or performs services for the Corporation, the fact of his being a director or officer
of the Corporation shall not disentitle such director or officer or such firm or body corporate, as the case may be, from receiving proper remuneration for such services. 

  
 5 

 Section 8 

MISCELLANEOUS 
  

	8.1	Omissions and Errors. The accidental omission to give any notice to any shareholder, officer or auditor or the non-receipt of any notice by any such person or
any error in any notice not affecting the substance thereof shall not invalidate any action taken at any meeting to which the notice related. 

  

	8.2	Persons Entitled by Death or Operation of Law. Every person who, by operation of law, transfer, death of a shareholder or any other means whatsoever, becomes
entitled to any share, shall be bound by every notice in respect of such share which shall have been duly given to the shareholder from whom he derives his title to such share prior to his name and address being entered on the securities register.

  

	8.3	Waiver of Notice. A shareholder, proxyholder, director, officer or auditor may at any time waive any notice, or waive or abridge the time for any notice,
required to be given to him under any provision of the Act, the regulations thereunder, the Articles or otherwise and such waiver or abridgment, whether given before or after the meeting or other event of which notice is required to be given, shall
cure any default or defect in the giving or in the time of such notice, as the case may be. Any such waiver or abridgment shall be in writing except a waiver of notice of a meeting of shareholders or of the Board or of a committee of the Board which
may be given in any manner. 

  

	8.4	Invalidity of any Provisions of this By-law. The invalidity or unenforceability of any provision of this by-law shall not affect the validity or enforceability
of the remaining provisions of this by-law. 

 Section 9 

REPEAL 
  

	9.1	Repeal. By-Law No. 1 of the Corporation adopted and confirmed by the shareholders of the Corporation on June 3, 2004 is repealed on the coming into
force of this by-law. Such repeal shall not affect the previous operation of any by-law of the Corporation or its predecessors or affect the validity of any act done or right, privilege, obligation or liability acquired or incurred under or the
validity of any contract or agreement made pursuant to such by-law prior to its repeal. All officers and persons acting under the by-law so repealed shall continue to act as if appointed by the directors under the provisions of this by-law or the
Act until their successors are appointed. 

  
 6

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