Document:

EX-10.22

 Exhibit 10.22 
 The TJX Companies, Inc. Management Incentive Plan 
 and 

The TJX Companies, Inc. Long Range Performance Incentive Plan 

(2013 Restatement) 
 This document sets forth the governing terms of two incentive plans maintained by The TJX Companies, Inc. (“TJX”): The TJX Companies, Inc. Management Incentive Plan (“MIP”) and The TJX
Companies, Inc. Long Range Performance Incentive Plan (“LRPIP”) (together, the “Plans”). The Plans have been established to advance the interests of TJX by providing for the grant of Awards to eligible employees of TJX and its
subsidiaries (the “Employer”). The Plans are intended to permit Awards that qualify for exemption from the tax deductibility limits imposed by Section 162(m) of the Internal Revenue Code (including the regulations thereunder,
“Section 162(m)”) (such exemption, the “Section 162(m) Exemption”), to the extent applicable. This document is an amendment and restatement of each of the Plans, and references to “Plan” or “Plans” herein
shall be deemed to apply to each of MIP and LRPIP, to the extent applicable. 
 I. Administration. The Plans are
administered by the Executive Compensation Committee of TJX’s Board of Directors (the “Committee”). The Committee has the authority, in its sole discretion, to administer all aspects of the Plans, to construe and interpret provisions
of the Plans, to determine all questions arising in connection with the Plans, and to adopt such rules for Plan administration as it may deem necessary or desirable, and references herein to a determination or other action by the Committee are to be
construed as a reference to the Committee’s discretionary discharge of such authority. Plan-related determinations by the Committee are conclusive and binding on all parties. Subject to the Section 162(m) Exemption requirements in the case
of Section 162(m) Awards, the Committee may delegate to other persons such duties, powers and responsibilities as it deems appropriate, and references to “Committee” herein are to be construed to include any such person to the extent
of such delegation. 
 II. Eligibility; Participants. Executive officers and other key employees of the Employer are
eligible to be considered for participation in the Plans. The Committee will select, from among those eligible, the persons who will from time to time participate in each Plan (each, a “Participant”). 

III. Awards. The term “Award” as used in the Plans means a MIP or LRPIP award opportunity granted to a Participant with
respect to a specified performance period (each, a “Performance Period”). Except as otherwise determined by the Committee in the case of any Award, (i) the Performance Period for a MIP Award will consist of a single fiscal year of TJX
(a “Fiscal Year”), and (ii) the Performance Period for an LRPIP Award will consist of a cycle of two or more consecutive Fiscal Years (a “Cycle”) (which Cycle, unless otherwise provided by the Committee, shall be three
consecutive Fiscal Years). 
 IV. Grant of Awards. The Committee will establish the following with respect to each Award:
(a) the applicable Performance Goal or Goals; (b) the amount or amounts that will be payable (subject to adjustment in accordance with Section V and VI) if the Performance Goal or Goals are achieved; and (c) such other terms and
conditions as the Committee deems appropriate. For Section 162(m) Awards, the Committee will take these actions in a manner that is consistent with the “preestablishment” and other Section 162(m) Exemption requirements. A
Participant who is granted an Award will be entitled to a payment, if any, under the Award only if all conditions to payment have been satisfied in accordance with the Plan and the terms of the Award. A Participant who accepts (or, under such rules
as the Committee may prescribe, is deemed to have accepted) an Award is deemed thereby to have agreed to the terms of the Award and the Plan. 

  
 1 

 V. Performance Goals. As used in the Plan, “Performance Goal” means a
specified criterion, other than the mere continuation of employment or the mere passage of time, the satisfaction of which is a condition for the vesting, payment or full enjoyment of an Award. A Performance Goal need not be based upon an increase
or positive result. For Section 162(m) Awards, a Performance Goal will be one or more objectively determinable measures of performance relating to any one or any combination of the following business criteria (measured on an absolute basis or
relative to one or more comparators, including one or more companies or indices, and determined on a consolidated, divisional, line of business, project, geographical or area of executive’s responsibilities basis, or any combination thereof):
(i) sales, revenues, or comparable store sales; (ii) assets, inventory levels, inventory turns, working capital, cash flow or expenses; (iii) earnings, profit, income, losses or margins, before or after deduction for all or any
portion of interest, taxes, depreciation, amortization, rent, or such other items as the Committee may determine at the time the Performance Goals are pre-established (within the meaning of Section 162(m)), whether or not on a continuing
operations and aggregate or per share basis, basic or diluted, before or after dividends; (iv) return on investment, capital, equity, assets, sales or revenues, or economic value added models or equivalent metrics; (v) market share, store
openings or closings, customer service or satisfaction levels, or employee recruiting, retention or diversity; (vi) stock price, dividends, or total shareholder return, or credit ratings; or (vii) strategic plan implementations. In
connection with the establishment of Section 162(m) Award terms under Section IV, the Committee may provide for automatic adjustments (in measures of achievement, amounts payable, or other award terms) to reflect objectively determinable events
(for example, acquisitions, divestitures, extraordinary items, other unusual or non-recurring items and/or changes in accounting principles) that may affect the business criteria, any such adjustment to be established and administered in a manner
consistent with the Section 162(m) Exemption requirements. 
 VI. Certification of Performance Results; Determination of
Amounts Payable. 
 (a) In General. As soon as practicable after the close of a Performance Period, the
Committee will determine whether and to what extent, if at all, the Performance Goal or Goals applicable to each Award granted for the Performance Period have been satisfied and, in the case of Section 162(m) Awards, will take such steps as it
deems necessary or appropriate to satisfy the certification requirement for Section 162(m) Exemption prior to any payment under the Award. The Committee may at any time (i) reduce (including to zero) the actual payment, if any, to be made
under an Award, or (ii) in the case of an Award other than a Section 162(m) Award, increase the actual amount payable under the Award. 
 (b) Special Rules. Notwithstanding subsection (a), but subject to Section 162(m) Exemption requirements for Section 162(m) Awards, the Committee may take such actions with respect
to some or all Awards as it determines to be necessary or advisable to establish the Employer’s obligation under such Awards prior to the end of a Fiscal Year for tax deductibility purposes. 

(c) No Requirement of Similar Treatment. For the avoidance of doubt, the Committee need not treat similar Awards or similarly
situated Participants the same for purposes of this Section VI. 
 VII. Payment under Awards. Unless
deferred, where available, under an applicable deferred compensation plan or arrangement of the Employer, each Plan payment will be made in cash as soon as practicable after the close of the relevant Performance Period and not later than two and
one-half (2 1/2) months after the later of the end of the calendar year or end of the Fiscal Year in which such Performance Period ends (or otherwise in accordance with such alternative payment schedule, in the
event of death, disability or other special circumstances, as may be established by the Committee under the Plans consistent with the requirements of, or requirements for exemption from, Section 409A of the Internal Revenue Code (including the
regulations thereunder, “Section 409A”)). For any amount deferred with 

  
 2 

 
respect to a Section 162(m) Award, no adjustment for interest or other earnings shall be made except as permitted under the Section 162(m) Exemption. 

VIII. Payment Limits. The maximum amount payable to any Participant under MIP for any Fiscal Year, and the maximum amount payable
to any Participant under LRPIP in the aggregate with respect to all Cycles commencing in a single Fiscal Year, is $5,000,000, increased by 5% per year starting with the Fiscal Year ending February 1, 2014. For the avoidance of doubt, the
preceding sentence is to be applied without regard to any deferrals of Award payments or earnings thereon (determined, in the case of a Section 162(m) Award, in a manner consistent with the Section 162(m) Exemption). 

IX. Withholding. All payments under the Plans are subject to reduction for applicable tax and other legally or contractually
required withholdings.  
 X. Amendment and Termination. The Committee may amend the Plans or either of them at
any time and from time to time and may terminate the Plans or either of them at any time. 
 Notwithstanding any provision of
the Plans, the Committee may at any time adopt such modifications, procedures, subplans and Award terms as it determines to be necessary or desirable to comply with the laws or regulatory requirements of foreign countries or to facilitate Plan
administration with respect to Participants performing services in such countries, consistent with the objectives of the applicable Plan or Plans. 
 XI. Miscellaneous. 
 (a) Section 162(m) Awards. For purposes of
the Plans, “Section 162(m) Award” means an Award that as of the relevant time or times (as determined by the Committee) is treated by the Committee as an Award intended to qualify for the Section 162(m) Exemption. For the avoidance of
doubt, the Committee may treat any Award as a Section 162(m) Award until such time, if any, as it determines otherwise (for example, but without limitation, in connection with a determination that the holder of the Award is not likely to be, as
of the relevant time, a covered employee within the meaning of Section 162(m)). In the case of any Section 162(m) Award, the Plan and such Award will be construed and administered in a manner consistent with qualifying the Award for the
Section 162(m) Exemption, notwithstanding anything to the contrary in the Plan. In the event the Committee reasonably anticipates that Section 162(m) limits on deductibility will apply to any Award, the Committee may delay payment with
respect to the Award to the extent permitted by Section 409A. 
 (b) Section 409A of the Internal Revenue Code.
Award payments are intended to qualify for exemption from the requirements of, or otherwise comply with, Section 409A, but the Employer will not be liable for any adverse tax or other consequences to a Participant in connection with any failure
or alleged failure to comply with Section 409A or an exemption therefrom. 
 (c) No Guarantees; No Employment Rights; No
Funding. No person will have any claim or right to be granted an Award, nor will the selection for participation in a Plan for any Performance Period be construed as giving a Participant the right to participate with respect to any other Award
under either Plan or as affecting the rights and powers of the Employer to terminate, or alter the terms of, the Participant’s employment. The loss of an Award will not constitute an element of damages in any claim that may be brought against
the Employer. Awards represent an unfunded and conditional obligation of the Employer, and nothing herein or under any Award is to be construed as requiring the Employer to establish a trust or otherwise to set aside assets to help it satisfy any
such obligation. The Employer will not be liable for any adverse tax or other consequences to a Participant that may arise in connection with the grant, payment, forfeiture or recovery of an Award. 

  
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 (d) Treatment of Award Upon Termination of Employment. Subject to such exceptions as
the Committee may determine (any such exceptions to be consistent with Section 162(m) Exemption requirements in the case of Section 162(m) Awards), and subject to the terms of any applicable employment or severance agreement or plan, a
Participant will forfeit all rights under an Award (i) if he or she does not remain employed by the Employer through the end of the applicable Performance Period, or (ii) if he or she is terminated for cause (as determined by the
Committee) at any time prior to payment. The Committee shall have the authority to treat any termination as a termination for cause if determines that such termination occurred in circumstances that would have constituted grounds for a termination
for cause. 
 (e) Payments Upon Death; Other Transfers. Amounts payable under the Plans upon or following the death of a
Participant, if any, will be paid to the Participant’s beneficiary or estate in accordance with such rules as may be established from time to time by the Committee. Except as provided in the preceding sentence or as required by law, no
purported transfer or assignment of a Participant’s rights or interests under the Plans will be permitted or recognized. 

(f) Change of Control. The Committee will determine the effects, if any, that a corporate merger, consolidation, sale of stock or
assets or similar transaction affecting TJX may have on outstanding Awards, subject to the terms of any applicable employment or change of control agreement or plan and consistent with Section 162(m) Exemption requirements in the case of
Section 162(m) Awards. 
 (g) Applicable Law. The Plans will be governed by and construed in accordance with the
laws of the Commonwealth of Massachusetts without regard to its conflict-of-laws provisions. 
 (h) Effective Date. This
2013 Restatement of MIP and LRPIP is effective as of April 1, 2013 (“the Effective Date”), including for all outstanding Awards granted on or before the Effective Date. The material terms of performance goals (within the meaning of
Section 162(m)) set forth in this 2013 Restatement were approved by TJX shareholders on June 13, 2012. 

  
 4EX-10.26

 Exhibit 10.26 

 
 THE WINNERS APPAREL
LTD. 
 CANADIAN EXECUTIVE SAVINGS PLAN

 (Effective November 1, 1999) 
  

 

 Table of Contents 
  

					
	 	  	Page	 
	 Section 1 – Establishment of the Plan
	  	 	1	  
		
	 Section 2 – Definitions
	  	 	2	  
		
	 Section 3 – Membership in the Plan
	  	 	6	  
		
	 Section 4 – Contributions and Credits
	  	 	7	  
		
	 Section 5 – Members’ Accounts
	  	 	10	  
		
	 Section 6 – Investment of Accounts
	  	 	13	  
		
	 Section 7 – Vesting of Member’s Accounts
	  	 	14	  
		
	 Section 8 – Retirement Benefit
	  	 	16	  
		
	 Section 9 – Beneficiary
	  	 	18	  
		
	 Section 10 – Trust Fund
	  	 	20	  
		
	 Section 11 – Administration
	  	 	21	  
		
	 Section 12 – General Provisions
	  	 	23	  
		
	 Section 13 – Amendment and Termination
	  	 	25	  

 SECTION 1 – ESTABLISHMENT OF THE
PLAN 
  

	1.01	Effective November 1, 1999 Winners Apparel Ltd. (the “Company”) establishes the Winners Apparel Ltd. Canadian Executive Savings Plan.

  
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 SECTION 2 – DEFINITIONS 

In this Plan, the following words and phrases shall have the following meaning respectively, unless a different meaning is specifically required by the
context: 
  

	2.01	“Board of Directors” means the Board of Directors Winners Apparel Ltd., or any successor corporation. 

 

	2.02	“Company” means Winners Apparel Ltd. And its successors and assigns, and such Employers as may be designated by the Board of Directors from time
to time and which shall adopt this Plan. Any reference in the Plan to any action to be taken, consent, approval or opinion to be given, or decision to be made shall refer to Winners Apparel Ltd. acting through its Board of Directors or any person or
persons authorized by the Board of Directors for purposes of the Plan. 

  

	2.03	“Company Account” means the notional account established for the Member pursuant to Section 5.01 hereof in which Company credits are
recorded. 

  

	2.04	“Continuous Service” means the service of an Executive with the Company as shown by the Company’s records, calculated from the date of last
employment. Continuous Service shall include temporary suspensions of employment, periods of layoff and Company-approved leaves of absence and statutory pregnancy and parental leaves of absence under employment standards legislation, or periods
while in receipt of benefits under a Company-sponsored long-term disability plan. 

  
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	2.05	“Earnings” means the basic remuneration paid by the Company to an Executive while he is a Member during the Plan Year including salary, wages,
commissions and payments for overtime as determined by the Company, but does not include a Member’s interest in amounts credited by the Company pursuant to this Plan, or to any other employer benefit, health, accident, or life insurance plan
maintained by the Company for the benefit of such member. 

  

	2.06	“Effective date” means November 1, 1999. 

  

	2.07	“Executive” means an associate designated by the Company as an Executive for the purpose of the Plan. 

 

	2.08	“Executive Account” means the account established for a Member under the Plan into which Member contributions are made.

  

	2.09	“Fiscal Year” means the fiscal year of the Employer. 

 

	2.10	“Member” means an Executive who has become a Member of the Plan pursuant to Section 3.01 and who continues to be entitled to benefits or
rights under the Plan. 

  

	2.11	“Membership” means Continuous Service while a Member. 

 

	2.12	“Plan” means the Winners Apparel Ltd. Canadian Executive Retirement Savings Plan. 

 

	2.13	“Plan Year” means the fiscal year. 

  

	2.14	“Spouse” means a person who, on the relevant date is 

  
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	 	(1)	married to the Member, or 

  

	 	(2)	cohabiting with the member in a conjugal relationship and 

  

	 	(a)	has so cohabited for a period of at least one year, or 

  

	 	(b)	is a parent of a child of whom the Member is a parent. 

  

	2.15	“Total and Permanent Disability” means a physical or mental impairment which prevents a member from engaging in any employment for which the
Member is reasonably suited by virtue of education, training or experience and that can reasonably be expected to continue for the remainder of the Member’s lifetime and which is certified, in writing, by a medical doctor licensed to practice
in Canada or where the member resides. 

  

	2.16	“Trust Agreement” means the agreement entered into between the Company or such person as the Company has authorized to act on its behalf and the
Trustee for the purposes of administration of the Trust Fund. 

  

	2.17	“Trust Fund” means the fund established pursuant to the Trust Agreement to which contributions are made by the Member. 

 

	2.18	“Trustee” means at least three individuals, one of whom must be independent of the operations of the Company and not be a shareholder, or a
trust company incorporated under the laws of Canada or of a province, provided that any such Trustee or Trustees shall be resident in Canada. 

  

	2.19	“Valuation Date” means the last day of the Plan Year and any other periodic dates established by the Company in consultation with the Trustee
from time to time for the purposes of determining the market value of the investments of the Company Accounts and the Executive Accounts. 

  
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 In this Plan, reference to the male gender will include the female gender unless the context requires
otherwise, and words importing the singular number may be construed to extend to and include the plural member and vice versa. All section numbers refer to sections of the Plan unless explicitly stated otherwise. 

  
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 SECTION 3 – MEMBERSHIP IN THE
PLAN 
  

	3.01	Eligibility 

 Each
Executive may elect to become a Member of the Plan on the first day of the month coincident with or next following the day on which the Executive is notified that he or she has been designated as an Executive by the Company. 

 

	3.02	Re-Employment After Termination 

 If an Executive’s Continuous Service is terminated for any reason and the Executive is later re-employed, the Execution shall, for purposes of the Plan, be regarded as a newly employed person who has
not had previous service with the Company. 
  

	3.03	Enrollment 

 In
order to become a Member of the Plan, an Executive must duly complete and file with the Company enrollment forms provided for such purposes. 
  

	3.04	Enrollment Period 

An Executive must enroll in the plan within 30 days calculated from the date of eligibility; subsequent enrollment periods are only at the
beginning of each fiscal quarter. 

  
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 SECTION 4 – CONTRIBUTIONS AND
CREDITS 
  

	4.01	Member Contribution Rate 

 Each Member may elect to contribute by payroll deduction a percentage of the Member’s Earnings subject to the maximum set out below: 

 

			
	 Level
	  	 Maximum Contribution Rate

	 President
	  	10% of Earnings
	 Senior Vice President
	  	10% of Earnings
	 Vice President
	  	10% of Earnings
	 Assistant Vice President
	  	5% of Earnings
	 Buyer Level III
	  	5% of Earnings

 The percentage of the Member’s Earnings that the Member has elected to contribute may be changed once
per fiscal quarter. The Company may in its discretion permit a higher percentage of Member Earnings to be contributed. 
  

	4.02	Tax Adjusted Member Contribution 

 The amount the Member contributes to the Member’s Executive Account shall equal the amount elected pursuant to Section 4.01 above (the “Pre-tax Contribution”) less any amount required
under subsection 153(1) of the Income Tax Act (Canada) to be withheld by the Company with regard to the Pre-tax Contribution. 
  

	4.03	Company Credit 

Each Plan Year the Company shall credit to the Member’s Company Account the following amounts: 

  
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	 	(1)	on the completion of each fiscal quarter, an amount equal to 25% of the Member’s aggregate Pre-tax Contributions in the preceding 3 months;

  

	 	(2)	in the first pay period immediately following the Board of Directors’ approval of the Management Incentive Awards for a Plan Year, provided that there has been
100% achievement of the Management Incentive Plan for Winners Apparel Ltd., an amount equal to 25% of the Member’s aggregate Pre-tax Contributions in the preceding Plan Year; 

 

	 	(3)	in the first pay period immediately following the Board of Directors’ approval of the Management Incentive Awards for a Plan Year, provided that the Member holds
the position of President, Senior Vice President, or Vice President, an amount equal to the percentage of the Member’s Pre-tax Contributions in the preceding Plan Year in the greater of 0% and the result of the following expressed as a
percentage: 

  

	 	(a)	the approved Management Incentive Plan Award, expressed as a percent, less 100%; 

 

	 	(b)	multiply (a) by 25%. 

  

	4.04	Withdrawal of Member Accounts 

 While a Member continues in employment with the Company, the Member may: 
  

	 	(1)	subject to (2), not withdraw any part of his Company Account; 

  

	 	(2)	make a withdrawal from his Executive Account in the instance of Financial Hardship with penalty calculated as follows: 

  
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	 	(a)	divide the amount of the withdrawal by the amount of the Member’s Executive Account as valued on the date of withdrawal, 

 

	 	(b)	multiply the result of (a) by the Member’s Company Account as valued on the date of withdrawal, 

 

	 	(c)	the Member forfeits Company credits made to the Member’s Company Account in an amount equal to the product of (b) as of the date of withdrawal.

  
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 SECTION 5 – MEMBERS’ ACCOUNTS 

 

	5.01	Establishment of Members’ Accounts 

 The following complete and accurate records and account shall be kept by the Company or any person authorized by the Company to keep such records: 

 

	 	(1)	an Executive Account in respect of each Member showing the aggregate of all amounts each of which is a contribution made by the Member pursuant to Section 4.02
plus capital and income gains and losses thereon; 

  

	 	(2)	a Company Account in respect of each Member showing the aggregate of all amounts credited by the Employer pursuant to Section 4.03 plus credited capital and income
gains and losses thereon; 

  

	 	(3)	such other sub-accounts as may be necessary for the purposes of the Plan. 

 

	5.02	Allocation to the Member’s Accounts 

  

	 	(1)	The contributions made by the Member under Section 4.02 shall be deposited in the Executive Account upon receipt of the contribution by the Trustee.

  

	 	(2)	Realized capital and income gains or losses of the Executive Account shall be allocated as earned to the Executive Account. Such allocation shall be made in accordance
with the terms of the Trust Agreement and any related funding arrangements. 

  
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	 	(3)	Unrealized capital and income gains or losses of the Executive Account shall be allocated as earned to the Executive Account. Such allocation shall be made in
accordance with the terms of the Trust Agreement and any related funding arrangements. 

  

	 	(4)	The amounts credited by the Employer under Section 4.03 shall be credited to the Company Account. 

 

	 	(5)	Notional realized and unrealized capital and income gains or losses of the Company Account shall be allocated as earned to the Company Account. Such allocation shall be
made in accordance with the terms of the funding arrangements that are the basis of such notional realized and unrealized capital and income gains or losses. 

 

	5.03	Tax Liability With Respect to Member Accounts 

  

	 	(1)	For the purposes of the Income Tax Act, a Member shall be liable for income tax on any amount paid to the Member from the Member’s Company Account plus any amount
allocated to the Member’s Executive Account pursuant to Subsection 5.02(2). 

  

	 	(2)	Notwithstanding any other provision in the Plan, a Member may elect to receive cash in an amount equal to all or part of the income tax liability with regard to any
amount allocated to the Member pursuant to Subsection 5.02(2). Such election shall be filed with the Company on or before April 1 of the Plan year following the Plan Year with regard to which the allocation was made. 

  
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	5.04	Value of Member’s Accounts 

 The value of a Member’s Accounts as of any date shall be equal to the aggregate of all allocations made in respect of such Member pursuant to the terms of the Plan up to and including the Valuation
Date coincident with or immediately preceding such date, after making allowances for any distributions which have previously been made from such Accounts pursuant to Section 5.03(2) or Section 8. 

  
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 SECTION 6 – INVESTMENT OF ACCOUNTS

  

	6.01       (1)	The Member’s Executive Account held by the Trustee shall be invested in one or more of the investment options available under the Plan as determined by the Company
in its discretion. From time to time, the Company shall provide each Member with information regarding the investment options then available. 

  

	 	(2)	The Member may elect from time to time, from the available investment options, the investment options in which the Executive Account shall be placed.

  

	 	(3)	The Member’s Company Account shall be notionally invested in one or more of the investment options available under the Plan as determined by the Company in its
discretion. From time to time, the Company shall provide each Member with information regarding the notional investment options then available. 

  

	 	(4)	The Member may elect from time to time, from the available notional investment options, the notional investment options into which the Company Account shall be placed.

  

	 	(5)	Neither the Company nor any of its agents shall be responsible for the performance of the investments or notional investments described herein.

  

	 	(6)	Regardless of any advice or recommendations that may be given to the Member by the Company, the Member shall be solely responsible for his or her investment decisions
and any investment gains or losses attributable thereto. 

  

	 	(7)	Each Member shall receive a statement setting out the balances and earnings in his or her Accounts at least annually. 

  
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 SECTION 7 – VESTING OF
MEMBER’S ACCOUNTS 
  

	7.01	Termination Prior to Vesting 

  

	 	(1)	If a Member’s Continuous Service terminates prior to the completion of five years of Membership, for any reason other than retirement, death, or termination of the
Plan all amounts credited to the Member’s Company Account including any earnings or allocations made pursuant to Subsection 5.02(5) shall be forfeited by the Member. 

 

	 	(2)	If a Member’s Continuous Service terminated after the completion of five years of Membership, but prior to the completion of ten years of Membership, for any
reason other than retirement, death, or termination of the Plan, 50% of amounts credited to the Member’s Company Account including any earnings or allocation made pursuant to Subsection 5.02(5) shall be forfeited by the Member and the remaining
amount shall continue to be notionally invested pursuant to Subsection 5.02(5) until the attainment of age 55. 

  

	 	(3)	If the Member’s Continuous Service terminates for any reason other than retirement, death, or termination of the Plan, after the completion of ten years of
Membership, and prior to the attainment of age 55, all amounts allocated to the Member’s Company Account, shall continue to be notionally invested pursuant to Subsection 5.02(5) until the attainment of age 55. 

  
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	7.02	Retirement, Death or Termination Following Vesting 

  

	 	(1)	All amounts allocated to the Member’s Company Account, including any earnings allocation made pursuant to Subsection 5.02(5) hereof, shall vest irrevocably in the
Member upon termination of his Continuous Service as a result of the Member’s death, retirement after attainment of age 55, retirement due to Total and Permanent Disability, or termination of the Plan and shall be paid to the Member, or the
Member’s Beneficiary if the Member has died, in accordance with Section 8 or 9 as is applicable. 

  

	 	(2)	If the Member’s Continuous Service terminates before the age of 55 for any reason, other than death, retirement due to Total and Permanent Disability or
termination of the Plan, all amounts allocated to the Member’s Company Account, pursuant to Subsection 7.01(2) and (3), shall vest irrevocably in the Member upon the attainment of age 55 and shall be paid in accordance with Subsection 7.02(1).

  

	7.03	Member’s Executive Account 

 Notwithstanding any other provision in the Plan a Member’s Executive Account shall at all times be irrevocably vested in the Member. 

  
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 SECTION 8 – RETIREMENT BENEFIT 

 

	8.01	Form of Retirement Benefit Payment 

 Pursuant to Section 7.02(1), the Member may elect to receive the balance in the Member’s Company Accounts as: 
  

	 	(1)	a lump sum; or 

  

	 	(2)	through 10 or fewer annual installments payable on a declining balance basis from the day on which the amount became payable calculated as follows:

  

	 	(a)	the value of Member’s Company Accounts at the date the installment is paid, multiplied by 

 

	 	(b)	one divided by the result of the number of installments elected minus the number of installments paid. 

All of such lump sum or installment payment(s) may be subject to income tax, which shall be withheld by the Company or the Trustee at the
applicable rate required by the Income Tax Act. Notice of such election must be filed by the Member with the Company on or before the first day of the month preceding the month in which the Member retires unless the Company agrees to accept such
election at a later date. 
  

	8.02	Value of Member’s Accounts 

 When a Member or Beneficiary becomes entitled to receive a payment from the Plan pursuant to Section 8.01, the Trustee shall determine the Member’s interest in the Plan based on the value of the
Member’s Accounts on the Valuation Date coincident with or immediately preceding the date of payment. 

  
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	8.03	Member’s Executive Account 

 A Member, or the Member’s Beneficiary if the Member dies, may withdraw any amount from the Member’s Executive Account at any time after the Member attains age 55, dies, or retires due to Total
and Permanent Disability, provided that all amounts allocated to the Member’s Executive Account shall be paid to the Member, or the Member’s Beneficiary, within 10 years of the date on which the Member attains age 55. 

  
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 SECTION 9 – BENEFICIARY 

 

	9.01	Designation of Beneficiary 

 A Member may, by written notice filed with the Trustee, designate a Beneficiary to receive the benefits which may be payable to a Beneficiary under the Plan on the Member’s death, or alter or revoke
any such designation from time to time, subject always to the provisions of any law governing designation of beneficiaries from time to time in force which may apply to such Member. Such written notice shall be in such form and executed in such
manner as the Company in its discretion may from time to time determine. In the absence of an effective designation of a Beneficiary, the benefits payable under the Plan on the death of a Member shall be paid in a lump sum to the Member’s
estate. 
  

	9.02	Payment before Commencement 

 The Member’s Executive Account and the Member’s Company Account shall, in the event of the Member’s death prior to commencement of payment under Section 8, be payable to the
Member’s Beneficiary no later than 90 days following the day on which the member’s death occurs, provided that proper proof of death has been filed with the Company. 

 

	9.03	Payment After Benefit Commencement 

 If the Member’s death occurs after commencement of payment under Subsection 8.01(2), payment of any benefits due to his Beneficiary or estate shall be in accordance with the form of payment elected
by the Member provided that proper proof of death has been filled with the Company. 

  
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 If, following the death of a Beneficiary who was in receipt of installment payments under
the Plan, there should be installment payments outstanding, the commuted value of such outstanding payments shall be paid in a lump sum to the Beneficiary’s estate within 90 days after the Beneficiary’s death, provided that proper proof of
death has been filed with the Company. 

  
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 SECTION 10 – TRUST FUND 

 

	10.01	Trust Fund 

 The
Company has established and will maintain during the term of this Plan, a Trust Fund for the purpose of receiving the Member’s contributions to the Plan and allocating such contributions and investment earnings thereon to the Member’s
Executive Account. The Trust Fund shall be administered and invested by the Trustee in accordance with the terms of the Trust Agreement and in compliance with the Income Tax Act (Canada). The Company shall have the sole right to select the Trustee
(and to appoint a successor Trustee) and to determine the form and terms of the Trust Agreement. 

  
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 SECTION 11 – ADMINISTRATION 

 

	11.01	General 

 The Plan
shall be administered by the Company. The Company may delegate such matters as it deems appropriate to the Trustee, the investment manager, or another agent. However, the Company shall, for purposes of the Plan, determine all questions relating to
the interpretation of the Plan and the eligibility, Membership, Earnings, retirement and the amount of contributions in respect of each Member. 
 The Trustee, with the consent of the Company, may enact rules and regulations relating to the administration of the Plan that are necessary to carry out properly the terms of the Plan and may, with the
consent of the Company, amend such rules and regulations from time to time. Such rules and regulations shall not conflict with any provision of this Plan. 
  

	11.02	Records 

 The
Company shall maintain an Executive and Company Account for each Member showing the amounts standing to the Member’s credit in the Plan and shall keep or cause to be kept such records as may be necessary or appropriate in the discharge of its
duties hereunder. Wherever the records of the Company are used for the purposes of the Plan, such records shall be conclusive of the facts with which they are concerned. 

  
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	11.03	Information to Participants 

 The Company shall provide to each new Member information in writing regarding the Member’s rights and duties under the Plan. The Company shall also issue or cause to be issued to each Member a
statement, on a quarterly basis or any other frequency as agreed upon by the Company and the Trustee, showing the Member’s up-to-date position in the Plan. 
  

	11.04	Expenses 

 All
expenses incurred in the operation, investment and administration of the Trust Fund shall be payable from the Trust Fund unless such expenses are paid directly by the Company. 

 

	11.05	No Diversion of Assets 

 In no event shall the principal or income of the Trust Fund be paid or revert to the Employer or be diverted for purposes other than as prescribed by the provisions of the Plan. 

  
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 SECTION 12 – GENERAL PROVISIONS 

 

	12.01	No Enlargement of Employment Rights 

 Membership in this Plan shall not confer on any Members any rights which they did not otherwise possess as employees, except to such benefits that they shall have specifically accrued under the terms of
the Plan. 
  

	12.02	Assignment of Benefits 

 Subject to the provisions herein set forth and any legal requirements to the contrary, none of the benefits, payments, proceeds, allocations, claims or rights of any Member or Beneficiary hereunder shall
be subject to any claim of any creditor of such Member or Beneficiary, nor shall the same be subject to surrender, attachment or garnishment or other legal process by any creditor of any Member, nor shall any member or Beneficiary have the right to
alienate, anticipate, commute, pledge, encumber, surrender or assign any of the benefits, payments, proceeds, allocations claims or rights to which he is entitled, continently or otherwise, under the Plan. 

 

	12.03	Payment to Incompetents 

 If the Company receives evidence satisfactory to it that a person entitled to receive any payment under the Plan is physically or mentally incompetent to receive such payment and to give a valid receipt
therefor, or is a minor, payment shall be made to the duly appointed guardian, committee or representative of such Member or person and the release of such person shall be a valid and complete discharge of the liabilities of the Plan therefor.

  
 - 23 -

	12.04	Delegation of Authority by the Company 

 Whenever the Company under the terms of this Plan is permitted or required to do or perform any act, it shall be done or performed by any officer duly authorized by the Board of Directors. 

 

	12.05	Limitation of Liability: Legal Actions 

 Except for its or their willful misconduct, gross neglect or fraud, neither the Company nor the Trustee shall be in any way subject to any legal liability to any Member or Beneficiary or anyone claiming
under him, for any cause or reason or thing whatsoever, in connection with this Plan and the Trust Fund. 
  

	12.06	Severability 

 If
any provision of the Plan is held to be invalid or unenforceable by a court of competent jurisdiction, its invalidity or unenforceability shall not affect any other provision of the Plan and the Plan shall be construed and enforced as if such
provision had not been included therein. 
  

	12.07	Successors and Assigns 

 This Plan shall be binding upon the successors and assigns of the Company and the Trustee and upon the heirs, executors, administrators, beneficiaries and assigns of the individual Members hereunder.

  

	12.08	Construction 

 The
Plan shall be governed, construed and administered in accordance with the laws of the Province of Ontario. 

  
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 SECTION 13 – AMENDMENT AND
TERMINATION 
  

	13.01	Amendment 

 The
Company shall have the right at any time, and from time to time, to amend, in whole or in part, any or all of the provision of the Plan. 
 No amendment shall operate to reduce the benefits which have accrued to any Member or other person entitled to benefits under the Plan prior to the date of such amendment. Notification and an explanation
of each amendment shall be given to the Member by the Trustee. 
  

	13.02	Termination of Plan by the Company 

 The Company expects and intends to maintain the Plan in force indefinitely but necessarily reserves the right to terminate the Plan, at any time or times. 

In the event the Plan is terminated, all allocations made to the Members’ Company Accounts shall become irrevocably vested for the
benefit of each Member and shall be paid to each Member or his Beneficiary according to the terms of the Plan. 
 The expenses of
terminating and liquidating the trust, unless paid by the Company, shall constitute a lien against the Trust Fund. 

  
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	13.03	Wind-Up or Bankruptcy of the Company 

 In the event the Company shall have been wound-up or declared bankrupt, or in the event of the dissolution or liquidation, merger, consolidation, reorganization or sale of assets of the Company without
provision for continuing this Plan, the Plan shall terminate and the provisions of Section 12.02 shall apply. 

CERTIFIED to be true and correct copy of a Resolution adopted by the Board of Directors of Winners Apparel Ltd. as on the
1st day of November 1999. 

 

							
		 		 	    /s/ David Margolis              	 	
	 President, Winners Apparel Ltd.
	 		 	    David Margolis	 	
				
		 		 	    /s/ Michael MacMillan        	 	
	 Senior Vice President of Finance, Systems and Distribution
	 		 	    Michael MacMillan	 	

  
 - 26 -

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