Document:

EX-10.8

 Exhibit 10.8 

REDACTED 
 Certain
identified information, indicated by [*****], has been excluded from the exhibit because it is both (i) not material and (ii) would likely cause competitive harm if publicly disclosed. 

REAL ESTATE MATTERS AGREEMENT 

This REAL ESTATE MATTERS AGREEMENT, dated as of March 30, 2022 (this “Agreement”), is by and between Bausch Health Companies
Inc., a corporation continued under the laws of the Province of British Columbia, Canada (“Parent”), and Bausch + Lomb Corporation, a company incorporated under the laws of Canada (“SpinCo”). Unless otherwise
defined in this Agreement, all capitalized terms used in this Agreement shall have the meaning set forth in the Master Separation Agreement, dated as of the date hereof, by and between Parent and SpinCo (as amended, modified or supplemented
from time to time in accordance with its terms, the “Separation Agreement”). 
 R E C I T A L S 

WHEREAS, SpinCo is presently a wholly-owned subsidiary of Parent; 

WHEREAS, pursuant to the Separation Agreement, Parent will offer and sell to the public Initial Common Shares in an initial public offering
(the “IPO”), immediately following which offering and sale Parent will own 80.1% or more of the outstanding Initial Common Shares; 

WHEREAS, Parent currently intends to, after the IPO, effect the Distribution; 

WHEREAS, effective as of the date hereof and in accordance with the Separation Agreement, Parent and SpinCo desire to set forth certain
agreements regarding real estate matters at and after the Separation Time; and 
 WHEREAS, the Separation Agreement requires execution and
delivery of this Agreement by Parent and SpinCo at or prior to the Separation. 
 NOW, THEREFORE, in consideration of the foregoing and the
mutual agreements contained in this Agreement, Parent and SpinCo, intending to be legally bound, hereby agree as follows: 
 ARTICLE I

 DEFINITIONS 

Section 1.1 Definitions. The following terms, as used herein, shall have the meanings stated below. 

(a) “Entangled Sites List” means the list entitled “Entangled Sites” and attached hereto as Exhibit 1, as
updated and amended from time to time by mutual written agreement of the parties hereto. 
 (b) “Landlord” means the
landlord or sublandlord under a Parent Lease or SpinCo Lease, and its successors and assigns, and includes the holder of any other interest that is superior to the interest of the landlord or sublandlord under such Parent Lease or SpinCo Lease. 

  
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 (c) “Lease Consents” means all consents, waivers or amendments required
from the Landlord or other third parties under the Relevant Leases to sublease the Parent Leased Properties or the SpinCo Leased Properties to SpinCo or Parent, as applicable. 

(d) “Parent Lease” means, in relation to each Parent Leased Property, the lease(s) (or sublease(s) or license(s)) under which
Parent or its applicable Subsidiary holds such Parent Leased Property. 
 (e) “Parent Leased Properties” means the
Properties listed in the Entangled Sites List, which Properties are currently under lease by Parent (or its Subsidiaries) (other than SpinCo or its Subsidiaries)). 

(f) “Parent Owned Properties” means the Properties listed in the Entangled Sites List, which Properties are currently owned by
Parent (or its Subsidiaries (other than SpinCo and its Subsidiaries)). 
 (g) “Properties” means the Parent Leased
Properties, the Parent Owned Properties, the SpinCo Leased Properties and the SpinCo Owned Properties. 
 (h) “Relevant
Leases” means those of Parent Leases or SpinCo Lease with respect to which the Landlord’s consent is required for a sublease contemplated by this Agreement. 

(i) “SpinCo Lease” means, in relation to each SpinCo Leased Property, the lease(s) (or sublease(s) or license(s)) under which
SpinCo or its applicable Subsidiary holds such SpinCo Leased Property. 
 (j) “SpinCo Leased Properties” means the
Properties listed in the Entangled Sites List, which Properties are currently under lease by SpinCo (or its Subsidiaries). 
 (k)
“SpinCo Owned Properties” means the Properties listed in the Entangled Sites List, which Properties are currently owned by SpinCo (or its Subsidiaries). 

ARTICLE II 
 PROPERTIES 

Section 2.1 Parent Leased Property. If the parties hereto mutually agree hereafter, Parent or its applicable Subsidiary shall
grant to SpinCo or its applicable Subsidiary a sublease of part of the relevant Parent Leased Property and SpinCo or its applicable Subsidiary shall accept the same, subject to the other provisions of this Agreement and the terms of the Separation
Agreement and the other Ancillary Agreements. Such sublease shall be completed as soon as is reasonably practicable after the parties hereto so mutually agree, but shall not be effective until the earlier of (i) the tenth (10th) Business Day
after the relevant Lease Consent has been granted and (ii) the date agreed upon by the parties hereto in accordance with Section 2.6(a) below. 

  
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 Section 2.2 SpinCo Leased Property. If the parties hereto mutually agree
hereafter, SpinCo or its applicable Subsidiary shall grant to Parent or its applicable Subsidiary a sublease of part of the relevant SpinCo Leased Property and Parent or its applicable Subsidiary shall accept the same, subject to the other
provisions of this Agreement and the terms of the Separation Agreement and the other Ancillary Agreements. Such sublease shall be completed as soon as is reasonably practicable after the parties hereto so mutually agree, but shall not be effective
until the earlier of (i) the tenth (10th) Business Day after the relevant Lease Consent has been granted and (ii) the date agreed upon by the parties hereto in accordance with Section 2.7(a) below. 

Section 2.3 Parent Owned Properties. If the parties hereto mutually agree hereafter, Parent shall grant or cause its applicable
Subsidiary to grant to SpinCo or its applicable Subsidiary a lease of part of the relevant Parent Owned Property and SpinCo or its applicable Subsidiary shall accept the same, subject to the other provisions of this Agreement and the terms of the
Separation Agreement and the other Ancillary Agreements. Such lease shall be completed as soon as is reasonably practicable after the parties hereto so mutually agree. 

Section 2.4 SpinCo Owned Properties. If the parties hereto mutually agree hereafter, SpinCo shall grant or cause its applicable
Subsidiary to grant to Parent or its applicable Subsidiary a lease of part of the relevant SpinCo Owned Property and Parent or its applicable Subsidiary shall accept the same, subject to the other provisions of this Agreement and the terms of the
Separation Agreement and the other Ancillary Agreements. Such lease shall be complete as soon as reasonably practicable after the parties hereto so mutually agree. 

Section 2.5 Obtaining the Lease Consents. 

(a) Parent and SpinCo confirm that, with respect to each Parent Leased Property and SpinCo Leased Property, to the extent required by the
Relevant Lease in connection with any action contemplated by this Agreement, an application will be made as soon as is reasonably practicable after the parties hereto mutually agree to take any such action to the relevant Landlord for the Lease
Consents required with respect to the transactions contemplated by this Agreement. For purposes of this Section 2.5, (i) for any Property requiring Landlord Consent of which the tenant/subtenant/licensee before the
Separation Time is Parent or its Subsidiaries (other than SpinCo and its Subsidiaries), Parent will have primary responsibility for requesting, negotiating and obtaining the Lease Consent and (ii) for any Property requiring Landlord Consent of
which the tenant/subtenant/licensee before the Separation Time is SpinCo or its Subsidiaries, SpinCo will have primary responsibility for requesting, negotiating and obtaining the Lease Consent (each party having primary responsibility of a Relevant
Lease being the “Responsible Party”). The Responsible Party shall also make all notices under, and take all other actions with respect to, any Parent Lease or SpinCo Lease to the extent required by such lease in connection with any
action contemplated by this Agreement. 
 (b) Parent and SpinCo will each use commercially reasonable efforts to obtain the Lease Consents,
but the Responsible Party shall not be required to commence judicial proceedings for a declaration that a Lease Consent has been unreasonably withheld or delayed, nor shall the Responsible Party be required to pay any consideration in excess of that
required by the Relevant Lease or that which is typical in the open market to obtain the relevant Lease Consent. 

  
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 (c) SpinCo and Parent will promptly satisfy the lawful requirements of the Landlord, and
Parent and SpinCo, as applicable, will take all steps to assist the Responsible Party in obtaining the Lease Consents, including, without limitation: 

(i) if properly required by the Landlord, entering into an agreement with the relevant Landlord to observe and perform the tenant’s
obligations contained in the Relevant Lease throughout the remainder of the term of the Relevant Lease, subject to any statutory limitations of such liability; 

(ii) if properly required by the Landlord, providing a guarantee, surety or other security (including, without limitation, a security deposit)
for the obligations of SpinCo or Parent, as applicable, or its applicable Subsidiary as tenant or subtenant under the Relevant Lease, and otherwise taking all steps that are necessary and that SpinCo or Parent, as applicable, is capable of doing to
meet the lawful requirements of the Landlord so as to ensure that the Lease Consents are obtained; and 
 (iii) if applicable, using all
commercially reasonable efforts to assist the Responsible Party with obtaining the Landlord’s consent to the release of any guarantee, surety or other security (or portion thereof) that Responsible Party or its Subsidiary may have previously
provided to the Landlord and, if required, offering the same or equivalent security to the Landlord to obtain such release. 
 Notwithstanding the foregoing,
(1) except with respect to guarantees, sureties or other security referenced in Section 2.5(c)(ii), SpinCo or Parent, as applicable, shall not be required to obtain a release of any obligation entered into by the
Responsible Party or its Subsidiary with any Landlord or other third party with respect to any Property; and (2) SpinCo or Parent, as applicable, shall not communicate directly with any of the Landlords for which it is not the Responsible Party
unless SpinCo or Parent, as applicable, can show the Responsible Party reasonable grounds for doing so. 
 (d) If, with respect to any Leased
Properties, Parent and SpinCo are unable to obtain a release by the Landlord of any guarantee, surety or other security (or a portion thereof) that the Responsible Party or its Subsidiary has previously provided to the Landlord, SpinCo or Parent, as
applicable, shall indemnify, defend, protect and hold harmless the Responsible Party and its Subsidiary from and after the Separation Time against all losses, costs, claims, damages, or liabilities incurred by the Responsible Party or its Subsidiary
as a result of such guarantee, surety or other security, but solely to the extent caused by or related to the acts or omissions of the Parent or SpinCo (or their respective Subsidiaries), as the case may, as subtenant or tenant of the Property or
relating to that portion of the Property being subleased or leased by Parent or SpinCo (or their respective Subsidiaries), as the case may. 

Section 2.6 Occupation by SpinCo. 

(a) In the event the parties hereto are in the process of obtaining a Lease Consent such that SpinCo (or its Subsidiary) may occupy a property
pursuant to this Agreement, subject to compliance with Section 2.6(b) and the applicable provision hereof governing the category of each Property to be occupied by SpinCo (or its Subsidiary) pursuant to this Agreement
(including mutual agreement of the parties hereto) and the terms of the applicable Relevant Lease, SpinCo (or its Subsidiary) shall be entitled to occupy the relevant Property as a licensee upon the terms and conditions contained in the Parent
Lease, if applicable, and upon the terms and conditions to be mutually agreed by Parent and SpinCo (for the avoidance of doubt, in such case, the Service Charges with respect to the services set forth on Exhibit 2 applicable to such relevant

  
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Property shall remain as set forth on Exhibit 2). In such case, SpinCo will be responsible for all costs, expenses and liabilities incurred by Parent or its applicable Subsidiary as a consequence
of such occupation, except for any losses, claims, costs, demands and liabilities incurred by Parent or its Subsidiary (other than SpinCo and its Subsidiaries) as a result of any enforcement action taken by the Landlord against Parent or its
Subsidiary (other than SpinCo and its Subsidiaries) with respect to any breach by Parent or its Subsidiary (other than SpinCo and its Subsidiaries) of the Relevant Lease in permitting SpinCo (or its Subsidiary) to so occupy the Property without
obtaining the required Lease Consent, for which Parent or its Subsidiary (other than SpinCo and its Subsidiaries) shall be solely responsible. In such case, SpinCo (or its Subsidiary) shall not be entitled to make any claim or demand against, or
obtain reimbursement from, Parent or its applicable Subsidiary with respect to any costs, losses, claims, liabilities or damages incurred by SpinCo (or its Subsidiary) as a consequence of being obliged to vacate the Property or in obtaining
alternative premises, including, without limitation, any enforcement action that a Landlord may take against SpinCo (or its Subsidiary). 

(b) In the event Section 2.6(a) is applicable, SpinCo (or its Subsidiary) shall, effective as of its occupation of
each Property, (i) pay Parent all rents, service charges, insurance premiums and other sums payable by Parent or its applicable Subsidiary under any such Relevant Lease or under the applicable sublease to be mutually agreed by Parent and
SpinCo; (ii) observe the tenant’s covenants, obligations and conditions contained in the Parent Lease or in the sublease to be mutually agreed by Parent and SpinCo; and (iii) indemnify, defend, protect and hold harmless Parent and its
applicable Subsidiary from and against all losses, costs, claims, damages and liabilities arising on account of any breach thereof by SpinCo (or its Subsidiary). 

(c) In the event Section 2.6(a) is applicable, Parent shall supply promptly to SpinCo copies of all invoices,
demands, notices and other communications received by Parent or its applicable Subsidiaries or agents in connection with any of the matters for which SpinCo (or its Subsidiary) may be liable to make any payment or perform any obligation pursuant to
Section 2.6(b), and shall, at SpinCo’s cost, take any steps and pass on any objections that SpinCo (or its Subsidiary) may have in connection with any such matters. SpinCo (or its Subsidiary) shall promptly supply to
Parent any notices, demands, invoices and other communications received by SpinCo or its Subsidiary or agents from any Landlord while SpinCo (or its Subsidiary) occupies any Property without the relevant Lease Consent. 

Section 2.7 Occupation by Parent. 

(a) In the event the parties hereto are in the process of obtaining a Lease Consent such that Parent (or its Subsidiary, other than SpinCo and
its Subsidiaries) may occupy a property pursuant to this Agreement, subject to compliance with Section 2.7(b) below and the applicable provision hereof governing the category of each Property to be occupied by Parent (or
its Subsidiary, other than SpinCo and its Subsidiaries) pursuant to this Agreement (including mutual agreement of the parties hereto) and the terms of the applicable Relevant Lease, Parent shall be entitled to occupy the relevant Property as a
licensee upon the terms and conditions contained in the SpinCo Lease, if applicable, or upon the terms and conditions to be mutually agreed by Parent and SpinCo (for the avoidance of doubt, in such case, the Service Charges with respect to the
services set forth on Exhibit 2 applicable to such relevant Property shall remain as set forth on Exhibit 2). In such case, Parent will be responsible for all costs, expenses and liabilities 

  
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incurred by SpinCo or its applicable Subsidiary as a consequence of such occupation, except for any losses, claims, costs, demands and liabilities incurred by SpinCo or its Subsidiary as a result
of any enforcement action taken by the Landlord against SpinCo or its Subsidiary with respect to any breach by SpinCo or its Subsidiary of the Relevant Lease in permitting Parent (or its Subsidiary, other than SpinCo and its Subsidiaries) to so
occupy the Property without obtaining the required Lease Consent, for which SpinCo or its Subsidiary shall be solely responsible. In such case, Parent (or its Subsidiary, other than SpinCo and its Subsidiaries) shall not be entitled to make any
claim or demand against, or obtain reimbursement from, SpinCo or its applicable Subsidiary with respect to any costs, losses, claims, liabilities or damages incurred by Parent (or its Subsidiary, other than SpinCo and its Subsidiaries) as a
consequence of being obliged to vacate the Property or in obtaining alternative premises, including, without limitation, any enforcement action that a Landlord may take against Parent (or its Subsidiary, other than SpinCo and its Subsidiaries). 

(b) In the event Section 2.7(a) is applicable, Parent (or its Subsidiary, other than SpinCo and its Subsidiaries)
shall, effective as of its occupation of each Property, (i) pay SpinCo all rents, service charges, insurance premiums and other sums payable by SpinCo or its applicable Subsidiary under any such Relevant Lease or under the sublease to be
mutually agreed by Parent and SpinCo, as applicable; (ii) observe the tenant’s covenants, obligations and conditions contained in the SpinCo Lease or in the sublease to be mutually agreed by Parent and SpinCo; and (iii) indemnify,
defend, protect and hold harmless SpinCo and its applicable Subsidiary from and against all losses, costs, claims, damages and liabilities arising on account of any breach thereof by Parent (or its Subsidiary, other than SpinCo and its
Subsidiaries). 
 (c) In the event Section 2.7(a) is applicable, SpinCo shall supply promptly to Parent copies of
all invoices, demands, notices and other communications received by SpinCo or its or its applicable Subsidiaries or agents in connection with any of the matters for which Parent (or its Subsidiary, other than SpinCo and its Subsidiaries) may be
liable to make any payment or perform any obligation pursuant to Section 2.7(b), and shall, at Parent’s cost, take any steps and pass on any objections that Parent (or its Subsidiary, other than SpinCo and its
Subsidiaries) may have in connection with any such matters. Parent (or its Subsidiary, other than SpinCo and its Subsidiaries) shall promptly supply to SpinCo any notices, demands, invoices and other communications received by Parent (or its
Subsidiary, other than SpinCo and its Subsidiaries) or its agents from any Landlord while Parent (or its Subsidiary, other than SpinCo and its Subsidiaries) occupies any Property without the relevant Lease Consent. 

Section 2.8 Obligation to Complete. If, with respect to any Parent Leased Property or SpinCo Leased Property, at any time a
relevant Lease Consent is formally and unconditionally refused in writing, Parent and SpinCo shall commence good-faith negotiations and use commercially reasonable efforts to determine how to allocate the applicable Property, based on the relative
importance of the applicable Property to the operations of each party, the size of the applicable Property, the number of employees of each party at the applicable Property, the value of assets associated with each business, the cost to relocate,
and the potential risk and liability to each party if an enforcement action is brought by the applicable Landlord. Such commercially reasonable efforts shall include consideration of alternate structures to accommodate the needs of both parties and
the allocation of the costs thereof, including entering into amendments of the size, term or other terms of the Relevant Lease, restructuring a proposed lease assignment to be a 

  
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sublease and relocating one party. If the parties hereto cannot agree upon an allocation of the Property within fifteen (15) days after commencement of negotiations between the parties
hereto as described above, then either party may, by delivering written notice to the other, require that the matter be referred to the Chief Financial Officers of both parties. In such event, the Chief Financial Officers shall use commercially
reasonable efforts to determine the allocation of the Property, including having a meeting or telephone conference within ten (10) days thereafter. If the parties hereto are unable to agree upon the allocation of an applicable Property within
fifteen (15) days after the matter is referred to the Chief Financial Officers as described above, the disposition of the applicable Property and the risks associated therewith shall be determined in accordance with Article VIII (Dispute
Resolution) of the Separation Agreement. 
 Section 2.9 Form of Transfer. 

(a) The leases to be granted to SpinCo or Parent with respect to the Parent Owned Property and the SpinCo Owned Property (if any) shall be on
terms to be mutually agreed by Parent and SpinCo. 
 (b) The subleases to be granted to SpinCo or Parent with respect to the Parent Leased
Property and the SpinCo Leased Property (if any) shall be on terms to be mutually agreed by Parent and SpinCo. 
 (c) Parent and SpinCo agree
that to the extent either party hereto desires to pursue the separation of the master lease to a Parent Leased Property or SpinCo Leased Property instead of pursuing a sublease, the other party will cooperate in such separation of master lease;
provided that all costs relating thereto will be the sole responsibility of the party requesting the separation of the master lease or, if both parties agree, split equally between both parties. To the extent that the parties hereto agree to
pursue separation of a master lease rather than a sublease but such separation of master lease has not occurred by the time mutually agreed by the parties hereto, Parent and SpinCo will equitably share the space and cost of the space, pursuant to
the process described in Section 2.6 or Section 2.7, as applicable, that have not yet received Landlord consent. 

Section 2.10 Casualty; Lease Termination. The parties hereto shall grant and accept transfers, assignments, leases or subleases of
the Properties as described in this Agreement, regardless of any casualty damage or other change in the condition of the Properties. In addition, in the event that a Parent Lease with respect to a Leased Property or a SpinCo Lease with respect to a
SpinCo Leased Property is terminated before the time the parties mutually agree to assign or sublease such party, (a) Parent and SpinCo, respectively, shall not be required to assign or sublease such Property, (b) SpinCo and Parent,
respectively, shall not be required to accept an assignment or sublease of such Property and (c) neither party shall have any further liability with respect to such Property hereunder. 

Section 2.11 Fixtures and Fittings. The provisions of the Separation Agreement and the other Ancillary Agreements shall apply to
any equipment, office equipment, trade fixtures, furniture and any other personal property located at each Property (excluding any equipment, office equipment, trade fixtures, furniture and any other personal property owned by third parties). 

  
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 Section 2.12 Costs. Subject to Section 3.1, the
Responsible Party shall pay all fees, costs and expenses incurred in connection with obtaining the Lease Consents, including, without limitation, Landlords’ reasonable consent fees and attorneys’ fees and any costs and expenses relating to
re-negotiation of Parent Leases and SpinCo Leases, as applicable. Subject to Section 3.1, the owner of the relevant Property shall also pay all fees, costs and expenses in connection
with the transfer of the Property, including title insurance premiums, escrow fees, recording fees, and any transfer taxes arising as a result of the transfers. 

Section 2.13 Signing and Ratification. Parent and SpinCo hereby ratify and authorize all signatures to any document entered into
in connection with this Agreement by Parent and SpinCo, or each’s respective Subsidiaries, and the parties hereto agree that to the extent any challenges arise to the authority of any such signature from and after the date hereof, Parent and
SpinCo will cooperate to ratify such signatures and prepare any corporate authorizations or resolutions necessary therefor. 

ARTICLE III 
 SERVICES;
ALTERNATE ARRANGEMENTS 
 Section 3.1 Services. Parent and SpinCo each agree and acknowledge that, upon the Separation Time, in
accordance with the Transition Services Agreement, each party hereto shall supply to, or perform for the benefit of, the other party hereto (and the other party hereto shall accept) certain services with respect to the Properties as further
described on Exhibit 2 (the “Services Schedule”). The Service Charges with respect to the services set forth on Exhibit 2 shall be as set forth on Exhibit 2 and the services set forth on the Services Schedule and shall be
invoiced monthly in accordance with the Transition Services Agreement as if such services were set forth on Schedule A or Schedule B of the Transition Services Agreement, as applicable. 

Section 3.2 Non-Subleased or Leased Properties. Notwithstanding anything to the contrary
herein, the parties hereto agree and acknowledge that there may be circumstances in which the parties hereto mutually agree that a formal lease or sublease will not be entered into in order to establish shared occupancy of a Property, in which case
such occupancy shall be on the relevant terms and conditions set forth on Services Schedule and on arm’s length terms to be mutually agreed by Parent and SpinCo. 

Section 3.3 Transitional Nature of Services. The parties hereto acknowledge the transitional nature of the shared occupancy and
services contemplated by the Services Schedule and agree to cooperate to use commercially reasonable efforts to provide for a formal separation as promptly as reasonably practicable and, in any event, by the deadline set forth in the column of the
Services Schedule entitled “Exit Criteria”. Specifically, the parties hereto acknowledge and agree that they intend to (and shall) discuss and negotiate, acting reasonably and in good faith, in order to reach agreement on long-term
arrangements for each of the Properties. However, notwithstanding their good-faith efforts and reasonable negotiations, if the parties hereto are unable to come to agreement on the formal separation with respect to a Property by the deadline

  
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set out above, then either party may, by delivering written notice to the other, require that the matter be referred to the Chief Financial Officers of both parties. In such event, the Chief
Financial Officers shall use commercially reasonable efforts to determine the formal separation with respect to the Property, including having a meeting or telephone conference within ten (10) days thereafter. If the parties hereto are unable
to agree upon a formal separation within fifteen (15) days after the matter is referred to the Chief Financial Officers as described above, the formal separation of the applicable Property shall be determined in accordance with Article
VIII (Dispute Resolution) of the Separation Agreement. Notwithstanding the above, with respect to the Properties described on Exhibit 3 hereto, unless the parties agree otherwise, the long-term separation arrangements for such Properties shall
be completed as described on such Exhibit 3. 
 Section 3.4 Service Extension. If, either (i) with respect to a Relevant Lease,
notwithstanding the use of commercially reasonable efforts by SpinCo or Parent, as the case may be, to obtain the Lease Consent, the Landlord has not provided its Lease Consent by the deadline specified in the column of the Services Schedule
entitled “Exit Criteria”, but the Landlord has not formally and unconditionally refused its Lease Consent (as described in Section 2.8 herein), or (ii) the parties have agreed upon, but are continuing to implement the long-term
arrangements for a Property (and have not completed the formal separation such that the extension of the services with respect to such Property is reasonably necessary), then, in either case, the duration of the services with respect to that
Property may be extended for an additional three (3) months, at the request of either party (an “Extension Request”), and, for the avoidance of doubt, in such case, the Service Charges with respect to the services set forth on
Exhibit 2 applicable to such relevant Property shall remain as set forth on Exhibit 2. Subject to the criteria in this Section 3.4 being met, each party may request up to two (2) Extension Requests per service set
forth on the Services Schedule. 
 Section 3.5 Termination of Services. If the parties are able to come to agreement on the
formal separation with respect to a Property prior to the deadline specified in the column of the Services Schedule entitled “Exit Criteria”, then, unless otherwise agreed by the parties, the applicable services shall terminate upon the
effectiveness of such early formal separation. 
 ARTICLE IV 

MISCELLANEOUS 
 Section 4.1
Further Assurances. Each party hereto covenants and agrees that, without any additional consideration, it shall execute and deliver any further legal instruments and perform any acts that are or may become necessary to effectuate this
Agreement. 
 Section 4.2 Notices. All notices, requests, claims, demands and other communications under this Agreement shall be
in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by facsimile or electronic transmission with receipt confirmed or by registered or
certified mail (postage prepaid, return receipt requested) to the respective party hereto at the following addresses (or at such other address as shall be specified in a notice given in accordance with this Section 4.2): 

  
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 If to Parent, to: 

Bausch Health Companies Inc. 

2150 St. Elzéar Blvd. West 

Laval, Québec, Canada H7L 4A8 

Attention: General Counsel 

E-mail:    [*****] 

with a copy to: 

Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 

New York, NY 10019 

Attention:   Igor Kirman 

          Mark F. Veblen 

Facsimile: [*****] 

Email:      [*****] 

If to SpinCo, to: 

Bausch + Lomb Corporation 

400 Somerset Corporate Blvd 

Bridgewater, NJ 08807 USA 

Attention:   General Counsel 

E-mail:       [*****] 

with a copy to: 

Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 

New York, New York 10019 

Attention:   Igor Kirman 

          Mark F. Veblen 

Facsimile:   [*****] 

Email:          [*****] 

Either party hereto may, by notice to the other party hereto, change the address to which such notices are to be given. 

Section 4.3 Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is
determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held
invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby. Upon such determination, the parties hereto shall negotiate in good faith in an effort to agree upon such a suitable
and equitable provision to effect the original intent of the parties hereto. 

  
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 Section 4.4 Entire Agreement. This Agreement, the Separation Agreement, the
other Ancillary Agreements and the Exhibits and Schedules referenced or attached hereto and thereto, constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and shall supersede all prior written and oral
and all contemporaneous oral agreements and understandings with respect to the subject matter hereof. 
 Section 4.5 No Third-Party
Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their permitted successors and assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person, including any union
or any employee or former employee of Parent or SpinCo, any legal or equitable right, benefit or remedy of any nature whatsoever, including any rights of employment for any specified period, under or by reason of this Agreement. 

Section 4.6 Governing Law. This Agreement (and any claims or disputes arising out of or related hereto or thereto or to the
transactions contemplated hereby and thereby or to the inducement of any party to enter herein and therein, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or otherwise) shall be governed
by and construed and interpreted in accordance with the Laws of the State of Delaware, irrespective of the choice of laws principles of the State of Delaware, including all matters of validity, construction, effect, enforceability, performance and
remedies. 
 Section 4.7 Amendment. No provisions of this Agreement, including any Schedules to this Agreement, shall be deemed
waived, amended, supplemented or modified by a party hereto, unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the party against whom it is sought to enforce such waiver,
amendment, supplement or modification. 
 Section 4.8 Authority. Each of the parties hereto represents to the other that
(a) it has the corporate or other requisite power and authority to execute, deliver and perform this Agreement; (b) the execution, delivery and performance of this Agreement by it have been duly authorized by all necessary corporate or
other action; (c) it has duly and validly executed and delivered this Agreement; and (d) this Agreement is a legal, valid and binding obligation, enforceable against it in accordance with its terms subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and general equity principles. 

Section 4.9 Rules of Construction. In this Agreement, (a) words in the singular shall be deemed to include the plural and
vice versa and words of one gender shall be deemed to include the other genders as the context requires; (b) the terms “hereof,” “herein,” and “herewith” and words of similar import shall, unless otherwise stated,
be construed to refer to this Agreement as a whole (including all of the Schedules, Exhibits and Appendices hereto) and not to any particular provision of this Agreement; (c) Article, Section, Schedule, Exhibit and Appendix references are to
the Articles, Sections, Schedules, Exhibits and Appendices to this Agreement unless otherwise specified; (d) unless otherwise stated, all references to any agreement (including this Agreement) shall be deemed to include the exhibits, schedules
and annexes (including all Schedules, Exhibits and Appendixes) to such agreement; (e) the word “including” and words of similar import when used in this Agreement shall mean “including, without limitation,” unless otherwise
specified; (f) 

  
 11 

 
the word “or” need not be exclusive; (g) unless otherwise specified in a particular case, the word “days” refers to calendar days; (h) references herein to this
Agreement or any other agreement contemplated herein shall be deemed to refer to this Agreement or such other agreement as of the date on which it is executed and as it may be amended, modified or supplemented thereafter, unless otherwise specified;
(i) unless expressly stated to the contrary in this Agreement, all references to “the date hereof,” “the date of this Agreement” and words of similar import shall all be references to March 30, 2022; and (j) the word
“extent” and the phrase “to the extent” shall mean the degree (if any) to which a subject or other thing extends, and such word or phrase shall not merely mean “if”. 

Section 4.10 Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and
the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties hereto and delivered to the other party hereto. 

Section 4.11 Assignability; Change of Control. 

(a) This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns;
provided that neither party hereto may assign its rights or delegate its obligations under this Agreement without the express prior written consent of the other party hereto. Notwithstanding the foregoing but subject to
Section 4.11(b), no such consent shall be required for the assignment of a party’s rights and obligations under this Agreement, the Separation Agreement and the other Ancillary Agreements (except as may be otherwise
provided in any such other Ancillary Agreement) in whole (i.e., the assignment of a party’s rights and obligations under this Agreement, the Separation Agreement and all other Ancillary Agreements all at the same time) in connection with
a change of control of a party hereto so long as the resulting, surviving or transferee Person assumes all the obligations of the relevant party thereto by operation of Law or pursuant to an agreement in form and substance reasonably satisfactory to
the other Party. 
 (b) To the extent legally permissible, SpinCo shall notify Parent in writing at least ninety (90) calendar days
prior to the completion of any SpinCo Change of Control. In the event of a SpinCo Change of Control, notwithstanding anything to the contrary herein, Parent shall be entitled to terminate this Agreement, in whole or in part, without any penalty,
liability or further obligation with forty-five (45) calendar days’ prior written notice to SpinCo, during which period any outstanding services will be unwound. 

Section 4.12 Non-Recourse. No past, present or future director, officer, employee,
incorporator, member, partner, shareholder, Affiliate, agent, attorney or representative of either Parent or SpinCo or their Affiliates shall have any liability for any obligations or liabilities of Parent or SpinCo, respectively, under this
Agreement or for any claims based on, in respect of, or by reason of, the transactions contemplated by this Agreement. 
 Section 4.13
Mutual Drafting. This Agreement shall be deemed to be the joint work product of the parties and any rule of construction that a document shall be interpreted or construed against a drafter of such document shall not be applicable. 

  
 12 

 Section 4.14 Ancillary Agreements. In the event of any conflict or inconsistency
between the terms of this Agreement and the terms of the Separation Agreement, the terms of this Agreement shall control with respect to the subject matter addressed by this Agreement to the extent of such conflict or inconsistency. In the event of
any conflict or inconsistency between the terms of this Agreement or the Separation Agreement, the Arrangement Agreement or any other Specified Ancillary Agreement, on the one hand, and any Transfer Document, on the other hand, including with
respect to the allocation of Assets and Liabilities as among the parties or the members of their respective Groups, this Agreement, the Separation Agreement, the Arrangement Agreement, or such Specified Ancillary Agreement shall control. 

[The remainder of this page is intentionally left blank.] 

  
 13 

 IN WITNESS WHEREOF, each of the parties hereto have caused this Real Estate Matters
Agreement to be executed on its behalf by its officers thereunto duly authorized on the day and year first above written. 
  

			
	BAUSCH HEALTH COMPANIES INC.
		
	By:	 	 /s/ Thomas J. Appio

		 	Name: Thomas J. Appio
		 	Title: Chief Executive Officer, Pharma Business
	
	BAUSCH + LOMB CORPORATION
		
	By:	 	 /s/ Joseph C. Papa

		 	 Name: Joseph C. Papa

		 	Title: Chief Executive Officer

 [Signature Page to Real Estate Matters Agreement] 

  

 Exhibit 1 

Entangled Sites List 

[Attached.] 

 Exhibit 2 

TSA Scope Services Schedule 

[Attached.]EX-10.9

 Exhibit 10.9 

BAUSCH + LOMB CORPORATION 

2022 OMNIBUS INCENTIVE PLAN 
  

	1.	 Purpose and Background 

The purposes of the 2022 Bausch + Lomb Corporation Omnibus Incentive Plan (as amended from time to time, the “Plan”) are to
(i) align the long-term financial interests of employees, directors, consultants, agents and other service providers of the Company and its Subsidiaries and Affiliates with those of the Company’s shareholders; (ii) attract and retain
those individuals by providing compensation opportunities that are competitive with other companies; and (iii) provide incentives to those individuals who contribute significantly to the long-term performance and growth of the Company and its
Subsidiaries and Affiliates. 
  

	2.	 Effective Date and Term 

The Plan shall be effective on the date on which the registration statement covering the initial public offering of the Common Shares is
declared effective by the Securities and Exchange Commission (the “Effective Date”). 
 Subject to the right of the Board
to amend or terminate the Plan at any time pursuant to Section 19 hereof, the Plan shall remain in effect until the earlier of (i) the date all Common Shares subject to the Plan have been purchased or acquired according to the Plan’s
provisions or (ii) the tenth anniversary of the Effective Date (the “Plan Term”). No Awards shall be granted under the Plan after such termination date, but Awards granted prior to such termination date shall remain outstanding
in accordance with their terms, and the authority of the Committee to amend, alter, adjust, suspend, discontinue or terminate any such Award, or to waive any conditions or rights under any such Award shall extend beyond such date. 

 

	3.	 Definitions 

“Affiliate” shall mean any entity that, directly or indirectly through one or more intermediaries controls, is controlled by
or is under common control with, the Company. 
 “Award” shall mean an Option, SAR, Share Unit, Share Award, Cash Award or
Converted Award granted under the Plan. 
 “Award Agreement” shall mean any written agreement, contract, or other
instrument or document evidencing an Award, which may, but need not, be executed or acknowledged by a Participant, as determined in the discretion of the Committee. 

“BHC” means Bausch Health Companies, Inc., a corporation incorporated under the British Columbia Business Corporations Act
(including any successor thereto). 
 “BHC Participant” means a Parent Participant (as defined in the Employee Matters
Agreement) who receives a Converted Award in accordance with Section 8.02(a) of the Employee Matters Agreement. 
 “Blackout
Period” means a period self-imposed by the Company (within the meaning of Section 613(m) of the TSX Company Manual) when the Participant is prohibited from trading in the Company’s securities. 

 

 “Board” shall mean the Board of Directors of the Company. 

“Business Day” means any day, other than a Saturday, Sunday or statutory or civic holiday, on which banks in Toronto, Ontario
are open for business. 
 “Cash Award” means cash awarded under Section 7(e) of the Plan, including cash awarded as a
bonus or upon the attainment of Performance Criteria or otherwise as permitted under the Plan. 
 “Cause” shall have the
meaning set forth in the Participant’s Service Agreement; provided that if no such agreement or definition exists, “Cause” shall mean, unless otherwise specified in the Award Agreement: (i) conviction of any felony (other than
one related to a vehicular offense) or other criminal act involving fraud; (ii) willful misconduct that results in a material economic detriment to the Company; (iii) material violation of Company policies and directives, which is not
cured after written notice and an opportunity for cure; (iv) continued refusal by the Participant to perform the Participant’s duties after written notice identifying the deficiencies and an opportunity for cure; and (v) a material
violation by the Participant of any of the covenants to the Company. No action or inaction shall be deemed willful if (x) not demonstrably willful and (y) taken, or not taken, by the Participant in good faith and with the understanding
that such action or inaction was not adverse to the best interests of the Company. Reference in this definition to the Company shall also include direct and indirect Subsidiaries of the Company, and materiality shall be measured based on the action
or inaction and the impact upon the Company taken as a whole. Notwithstanding the foregoing, with respect to any Converted Award held by any BHC Participant, “Cause” shall be defined in the manner set forth in Section 8.06(a) of the
Employee Matters Agreement. 
 “Change of Control” shall have the meaning set forth in Section 11. 

“Code” shall mean the U.S. Internal Revenue Code of 1986, as amended, including any rules and regulations promulgated
thereunder and any successor thereto. 
 “Committee” shall mean the Board or a committee designated by the Board to
administer the Plan. 
 “Common Shares” shall mean the common shares of the Company, no par value per share. 

“Company” shall mean Bausch + Lomb Corporation, a corporation incorporated under the laws of Canada. 

“Consultant” means any individual, including an advisor, consultant or agent, who is providing services to the Company or any
Subsidiary or Affiliates under a written agreement, other than services provided in relation to a distribution, including, without limitation, any non-employee director serving on the Board of Directors of any
Subsidiary or Affiliates. 
 “Converted Awards” means awards originally granted under the Parent Equity Plan that are
converted into Awards with respect to Common Shares pursuant to Article VIII of the Employee Matters Agreement. 
 “Deferred
Shares” shall mean an Award payable in Common Shares at the end of a specified deferral period that is subject to the terms, conditions and limitations described or referred to in Section 7(d)(iv). 

 “Director” means any member of the Board. 

“Disability” shall mean, unless otherwise provided in an applicable Service Agreement or Award Agreement, that the
Participant is (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less
than twelve (12) months or (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months,
receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company; provided, that, if applicable to the Award, “Disability” shall be
determined in a manner consistent with Section 409A of the Code. Notwithstanding the foregoing, with respect to any Converted Award held by any BHC Participant, “Disability” shall be defined in the manner set forth in
Section 8.06(a) of the Employee Matters Agreement. 
 “Eligible Recipient” shall mean (i) any Employee,
(ii) any Director, (iii) any Consultant or (iv) solely with respect to Converted Awards, BHC Participants. 

“Employee” means any individual, including any officer, employed by the Company or any Subsidiary or Affiliate. 

“Employee Matters Agreement” means the Employee Matters Agreement, by and between BHC and the Company, dated as of March 30,
2022, as such agreement may be amended from time to time. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934,
as amended, including the rules and regulations promulgated thereunder and any successor thereto. 
 “Good Reason” shall
have the meaning set forth in the Participant’s applicable Service Agreement; provided that if no such agreement or definition exists, “Good Reason” shall mean, unless otherwise specified in the Award Agreement, the occurrence of any
of the events or conditions described in clauses (i) and (ii) immediately below without the Participant’s consent, which are not cured by the Company (if susceptible to cure by the Company) within thirty (30) days after the Company
has received written notice from the Participant which notice must be provided by the Participant within ninety (90) days of the initial existence of the event or condition constituting Good Reason specifying the particular events or conditions
which constitute Good Reason and the specific cure requested by the Participant: (i) any material reduction in the Participant’s duties or responsibilities as in effect immediately prior thereto; provided that diminution of responsibility
shall not include any such diminution resulting from a promotion, death or Disability, the Participant’s Termination of Service for Cause, or the Participant’s Termination of Service other than for Good Reason; and (ii) any reduction
in the Participant’s base salary or target bonus opportunity which is not comparable to reductions in the base salary or target bonus opportunity of other similarly-situated employees at the Company. Notwithstanding the foregoing, with respect
to any Converted Award held by any BHC Participant, “Good Reason” shall be defined in the manner set forth in Section 8.06(a) of the Employee Matters Agreement. 

“Insider” shall mean a reporting insider, as defined in National Instrument 55-104
– Insider Reporting Requirements and Exemptions of the Canadian Securities Administrators; 

 “Intrinsic Value” with respect to an Option or SAR Award means (i) the
excess, if any, of the price or implied price per Common Share in a Change of Control or other event over (ii) the exercise or price of such Award multiplied by (iii) the number of Shares covered by such Award. 

“ISO” shall mean an Option intended to be, and designated as, an incentive stock option within the meaning of
Section 422 of the Code. 
 “Market Price” shall mean, with respect to Common Shares, (i) the closing price per
Common Share on the national securities exchange on which the Common Shares are principally traded (as of the Effective Date, the New York Stock Exchange), or (ii) if the Common Shares are not then listed on a national securities exchange but
are then traded in an over-the-counter market, the average of the closing bid and asked prices for the Common Shares in such over-the-counter market, or (iii) if the Common Shares are not then listed on a national securities exchange or traded in an
over-the-counter market, such value as the Committee, using any reasonable method of valuation, shall determine. With respect to property other than Common Shares, the
Market Price shall mean the fair market value of such other property determined by such methods or procedures as shall be established from time to time by the Committee, subject to any required approval by the TSX (to the extent applicable at such
time). 
 “Nonqualified Stock Option” shall mean an Option that is granted to a Participant that is not designated as an
ISO. 
 “Option” shall mean the right to purchase a specified number of Common Shares at a stated exercise price for a
specified period of time subject to the terms, conditions and limitations described or referred to in Section 7(a). The term “Option” as used in the Plan includes the terms “Nonqualified Stock Option” and “ISO.”

 “Original Term” shall have the meaning set forth in Section 7(a). 

“Parent Equity Plan” means the Bausch Health Companies Inc. 2014 Omnibus Incentive Plan (as amended and restated effective as
of April 28, 2020). 
 “Participant” shall mean an Eligible Recipient who has been granted an Award under the Plan.

 “Performance Criteria” shall mean performance criteria based on the attainment by the Company or any Subsidiary (or any
division or business unit of such entity) of performance measures pre-established by the Committee in its sole discretion, including, without limitation, one or more of the following: 

 

	 	(i)	 revenues, income before taxes and extraordinary items, net income, operating income, earnings before income
tax, earnings before interest, taxes, depreciation and amortization, cash flow or a combination of any or all of the foregoing; 

  

	 	(ii)	 after-tax or pre-tax profits
including, without limitation, that attributable to continuing and/or other operations; 

  

	 	(iii)	 the level of the Company’s bank debt or other long-term or short-term public or private debt or other
similar financial obligations of the Company either in absolute terms or as it relates to a profitability ratio including operating income or EBITA; 

  

	 	(iv)	 return on capital employed, return on assets, or return on invested capital; 

	 	(v)	 after-tax or pre-tax return on
stockholders’ equity; 

  

	 	(vi)	 economic value added targets based on a cash flow return on investment formula; 

 

	 	(vii)	 the Market Price of the Common Shares; 

 

	 	(viii)	 the market capitalization or enterprise value of the Company, either in amount or relative to industry peers;

  

	 	(ix)	 the value of an investment in the Common Shares assuming the reinvestment of dividends; and

  

	 	(x)	 the achievement of operating margin targets or other measures of improving profitability.

 The Performance Criteria may be based upon the attainment of specified levels of performance under one or more of the
measures described above relative to the performance of other entities or businesses. The Committee may designate additional business criteria on which the Performance Criteria may be based or adjust, modify or amend the aforementioned business
criteria, including to take into account actions approved by the Board or a committee thereof that affect the achievement of the original performance criteria. Performance Criteria may include a threshold level of performance below which no Award
will be earned, a level of performance at which the target amount of an Award will be earned and a level of performance at which the maximum amount of the Award will be earned. The Committee, in its sole discretion, shall make equitable adjustments
to the Performance Criteria in recognition of unusual or non-recurring events affecting the Company or any Subsidiary or the financial statements of the Company or any Subsidiary, in response to changes in
applicable laws or regulations, including changes in generally accepted accounting principles, or to account for items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the
disposal of a segment of a business or related to a change in accounting principles, as applicable. 
 “Performance
Multiplier” means the multiplier applicable to an Award of Share Units based on the level of achievement of the applicable Performance Criteria, which such multiplier may range from 0% to such applicable percentage as determined by the
Committee in its discretion. 
 “Performance Period” means the period established by the Committee in its discretion during
which the Performance Criteria specified by the Committee with respect to any Award of Share Units, as applicable, are to be measured. 

“Person” shall have the meaning set forth in Section 14(d)(2) of the Exchange Act. 

“Restricted Shares” shall mean an Award of Common Shares that is subject to the terms, conditions, restrictions and
limitations described or referred to in Section 7(d)(iii). 
 “SAR” shall mean a share appreciation right that is
subject to the terms, conditions, restrictions and limitations described or referred to in Section 7(b). 

“Section 16(a) Insider” shall mean an Eligible Recipient who is subject to the reporting requirements of
Section 16(a) of the Exchange Act. 

 “Separation from Service” shall have the meaning set forth in Section 1.409A-1(h) of the Treasury Regulations. 
 “Service Agreement” means any
employment, severance, consulting or similar agreement between the applicable Participant and the Company or any of its Subsidiaries or Affiliates. 

“Specified Employee” shall have the meaning set forth in Section 409A of the Code and the Treasury Regulations
promulgated thereunder. 
 “Share Award” shall have the meaning set forth in Section 7(d)(i). 

“Share Payment” shall mean a share payment that is subject to the terms, conditions, and limitations described or referred to
in Section 7(d)(ii). 
 “Share Unit” shall mean a share unit that is subject to the terms, conditions and limitations
described or referred to in Section 7(c). 
 “Subsidiary” means any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company, if each of the corporations (other than the last corporation) in the unbroken chain owns shares possessing fifty percent (50%) or more of the total combined voting power of all classes of
shares in one of the other corporations in the chain (or such lesser percent as is permitted by Section 1.409A-1(b)(5)(iii)(E) of the Treasury Regulations). 

“Substitute Award” means an Award granted in connection with a transaction between the Company (or a Subsidiary) and another
entity or business acquired by the Company (or a Subsidiary), or with which the Company or a Subsidiary combines, in substitution or exchange for, or conversion, adjustment, assumption or replacement of, awards previously granted by such other
entity or business. 
 “Termination of Service” means, unless as otherwise provided in an Award Agreement, and subject to
Section 8.06(a) and 8.06(c) of the Employee Matters Agreement with respect to Converted Awards held by BHC Participants, in the case of a Participant who is an Employee, cessation of the employment relationship such that the Participant is no
longer an employee of the Company or any Subsidiary or Affiliate, or, in the case of a Participant who is a Consultant or non-employee Director, the date the performance of services for the Company or any
Subsidiary has ended; provided, however, that in the case of a Participant who is an Employee, the transfer of employment from the Company to a Subsidiary or Affiliate, from a Subsidiary or Affiliate to the Company, from one Subsidiary
or Affiliate to another Subsidiary or Affiliate or, unless the Committee determines otherwise, the cessation of employee status but the continuation of the performance of services for the Company, a Subsidiary or an Affiliate as a Director or
Consultant shall not be deemed a cessation of service that would constitute a Termination of Service; provided, further, that a Termination of Service shall be deemed to occur for a Participant employed by, or performing services for,
a Subsidiary or an Affiliate when such Subsidiary or Affiliate ceases to be a Subsidiary or an Affiliate, as applicable, unless such Participant’s employment or service continues with the Company or another Subsidiary or Affiliate.
Notwithstanding the foregoing, with respect to any Award subject to Section 409A of the Code (and not exempt therefrom), a Termination of Service occurs when a Participant experiences a Separation of Service. 

 “Treasury Regulations” shall mean the regulations promulgated under the
Code by the United States Internal Revenue Service, as amended. 
 “TSX” means the Toronto Stock Exchange. 

 

	4.	 Administration 

 

	 	(a)	 Committee Authority. Subject to applicable law, the Committee shall have full and exclusive power
to administer and interpret the Plan, to grant Awards and to adopt such administrative rules, regulations, procedures and guidelines governing the Plan and the Awards as it deems appropriate, in its sole discretion, from time to time. The
Committee’s authority shall include, but not be limited to, the authority to: (i) determine the type of Awards (including Substitute Awards) to be granted under the Plan; (ii) select Award recipients and determine the extent of their
participation; (iii) determine Performance Criteria; (iv) establish all other terms, conditions, and limitations applicable to Awards, Award programs and, if applicable, the Common Shares issued pursuant thereto; (v) determine
whether, to what extent, under what circumstances and by which methods Awards may be settled or exercised in cash, Common Shares, other Awards, other property, net settlement (including broker-assisted cashless exercise), or any combination thereof,
or canceled, forfeited or suspended; and (vi) establish, amend, suspend or waive such rules and regulations and appoint such agents, trustees, brokers, depositories and advisors and determine such terms of their engagement as it shall deem
appropriate for the proper administration of the Plan and due compliance with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations. The Committee may accelerate or defer the vesting or payment of
Awards, cancel or modify outstanding Awards, waive any conditions or restrictions imposed with respect to Awards or the Common Shares issued pursuant to Awards and make any and all other determinations that it deems appropriate with respect to the
administration of the Plan, subject to the limitations contained in Sections 6(d) and 19 of the Plan and applicable law and listing rules with respect to all Participants. 

 

	 	(b)	 Administration of the Plan. The administration of the Plan shall be managed by the
Committee. All determinations of the Committee shall be made by a majority of its members either present in person or participating by conference telephone at a meeting or by written consent. The Committee shall have the power to prescribe and
modify the forms of Award Agreement, correct any defect, supply any omission or clarify any inconsistency in the Plan and/or in any Award Agreement and take such actions and make such administrative determinations that the Committee deems
appropriate in its sole discretion. Any decision of the Committee in the administration of the Plan, as described herein, shall be final, binding and conclusive on all parties concerned, including the Company, its shareholders and Subsidiaries and
all Participants. Notwithstanding anything to the contrary contained herein, the Board may, in its sole discretion, at any time and from time to time, grant Awards or administer the Plan. In any such case, the Board shall have all of the authority
and responsibility granted to the Committee herein. 

  

	 	(c)	 Delegation of Authority. To the extent permitted by applicable law, the Committee may at
any time delegate to one or more officers or Directors of the Company some or all of its authority over the administration of the Plan (including the authority to grant Awards under the Plan), with respect to individuals who are not
Section 16(a) Insiders. 

	 	(d)	 Indemnification. No member of the Committee or any other Person to whom any duty or power
relating to the administration or interpretation of the Plan has been delegated shall be personally liable for any action or determination made with respect to the Plan, except for his or her own willful misconduct or as expressly provided by
statute. The members of the Committee and its delegates, including any employee with responsibilities relating to the administration of the Plan, shall be entitled to indemnification and reimbursement from the Company, to the extent permitted by
applicable law and the by-laws and policies of the Company. To the fullest extent permitted by the law, in the performance of its functions under the Plan, the Committee (and each member of the Committee and
its delegates) shall be entitled to rely upon information and advice furnished by the Company’s officers, accountants, counsel and any other party they deem appropriate, and neither the Committee nor any such Person shall be liable for any
action taken or not taken in reliance upon any such advice. 

  

	5.	 Participation 

 

	 	(a)	 Eligible Recipients. Subject to applicable law and Section 7 hereof, the Committee
shall determine, in its sole discretion, which Eligible Recipients shall be granted Awards under the Plan; provided that Converted Awards may be granted under the Plan solely in accordance with the Employee Matters Agreement. Holders of
equity compensation awards granted by an entity or business that is acquired by the Company or a Subsidiary (or whose business is acquired by the Company or a Subsidiary) or with which the Company or a Subsidiary combines are eligible for grants of
Substitute Awards under the Plan to the extent permitted under applicable law and the applicable regulations of any stock exchange on which the Company is then listed. 

 

	 	(b)	 Participation outside of the United States. In order to facilitate the granting of Awards
to Employees who are foreign nationals or who are employed outside of the U.S., the Committee may provide for such special terms and conditions, including, without limitation, substitutes for Awards, as the Committee may consider necessary or
appropriate to accommodate differences in local law, tax policy or custom. The Committee may approve any supplements to, or amendments, restatements or alternative versions of, this Plan (including sub-plans)
as it may consider necessary or appropriate for the purposes of this Section 5(b) without thereby affecting the terms of this Plan as in effect for any other purpose, and the appropriate officer of the Company may certify any such documents as
having been approved and adopted pursuant to properly delegated authority; provided, that no such supplements, amendments, restatements or alternative versions shall include any provisions that are inconsistent with the intent and purpose of
this Plan, as then in effect; further provided that any such action taken with respect to an Employee who is subject to Section 409A of the Code shall be taken in compliance with Section 409A of the Code; and further
provided that any such supplements, amendments and restatements or alternative versions shall be subject to any required TSX approval (to the extent applicable at such time). 

	6.	 Available Shares of Common Shares 

 

	 	(a)	 Shares Subject to the Plan. Subject to the following provisions of this Section 6
(including, without limitation, the provisions regarding adjustment in accordance with Section 6(e)) and except for Substitute Awards, the maximum number of Common Shares initially available for issuance pursuant to Awards under the Plan shall
not exceed the sum of (i) [•]1 Common Shares in the aggregate and (ii) the number of Common Shares underlying Converted Awards (the “Initial Pool”). Common Shares issued
pursuant to Awards granted under the Plan may be shares that have been authorized but unissued, or have been purchased in open market transactions or otherwise.  

 

	 	(b)	 Forfeited and Expired Awards. If any shares subject to an Award (other than a Converted
Award or a Substitute Award) are forfeited, cancelled, exchanged or surrendered, or if an Award (other than a Converted Award or a Substitute Award) terminates or expires without a distribution of Common Shares to the Participant, the Common Shares
with respect to such Award shall, to the extent of any such forfeiture, cancellation, exchange, surrender, termination or expiration, again be available for Awards under the Plan. Notwithstanding the foregoing, (i) the Common Shares surrendered
or withheld as payment of either the exercise price of an Option (including shares otherwise underlying an Award of a SAR that are retained by the Company to account for the exercise price of such SAR) and/or withholding taxes in respect of an Award
shall no longer be available for Awards under the Plan and (ii) any Common Shares subject to any Converted Award or Substitute Award that is (A) forfeited, cancelled, exchanged, surrendered, cancelled or otherwise terminates or expires
without a distribution of Common Shares or (B) surrendered or withheld as payment of either the exercise price of a Converted Award or Substitute Award and/or withholding taxes in respect of a Converted Award or Substitute Award, in each case,
will not again become available for distribution in connection with Awards under the Plan. 

  

	 	(c)	 Other Items Not Included in Allocation. The maximum number of Common Shares that may be
issued under the Plan as set forth in Section 6(a) shall not be affected by (i) the payment in cash of dividends or dividend equivalents in connection with outstanding Awards to the extent such cash dividends or dividend equivalents are
permitted in accordance with Section 8, (ii) the granting or payment of share-denominated Awards that by their terms may be settled only in cash, (iii) the granting of Cash Awards or (iv) the grant of, or issuance of Common Shares
pursuant to, Substitute Awards. For the avoidance of doubt, Common Shares underlying Substitute Awards and, subject to any required approval by the TSX (to the extent applicable at such time), Common Shares remaining available for grant under a plan
of an acquired company or of a company with which the Company or a Subsidiary combines (whether by way of amalgamation, merger, sale and purchase of shares or other securities or otherwise), appropriately adjusted to reflect the acquisition or
combination transaction, shall not reduce the number of Common Shares remaining available for grant hereunder. 

  

	 	(d)	 ISO Limit. Subject to Section 6(e), the maximum number of Common Shares available for
issuance with respect to ISOs shall be the Initial Pool. 

  

	1 	 The initial number of shares to be reserved for issuance under the Plan to be equal to 8% of the number of
fully-diluted outstanding shares as of the IPO date (assuming the over-allotment option is fully exercised by the underwriters). 

	 	(e)	 Adjustments. In the event of any change in the Company’s capital structure,
including, but not limited to, a change in the number of Common Shares outstanding, on account of (i) any stock dividend, stock split, reverse stock split or any similar equity restructuring or (ii) any combination or exchange of equity
securities, merger, consolidation, recapitalization, reorganization, or divesture or any other similar event affecting the Company’s capital structure, or changes in applicable laws, regulations or accounting principles, to reflect such change
in the Company’s capital structure, the Committee shall make appropriate equitable adjustments to the maximum number and type of Common Shares (or other securities) that may be issued under the Plan as set forth in Section 6(a) and the
limit set forth in Section 6(d). In the event of any extraordinary dividend, divestiture or other distribution (other than ordinary cash dividends) of assets to shareholders, or any transaction or event described above, or changes in applicable
laws, regulations or accounting principles, to the extent necessary to prevent the enlargement or diminution of the rights of Participants, the Committee shall make appropriate equitable adjustments to the number or kind of shares subject to an
outstanding Award (including the identity of the issuer), the exercise or hurdle price applicable to an outstanding Award, and/or any measure of performance that relates to an outstanding Award, including any applicable Performance Criteria. Any
adjustment to ISOs under this Section 6(e) shall be made only to the extent not constituting a “modification” within the meaning of Section 424(h)(3) of the Code. With respect to Awards subject to Section 409A of the Code,
any adjustments under this Section 6(e) shall conform to the requirements of Section 409A of the Code. Notwithstanding anything set forth herein to the contrary, the Committee may, in its discretion, decline to adjust any Award made to a
Participant, if it determines that such adjustment would violate applicable law or result in adverse tax consequences to the Participant or to the Company. If, as a result of any adjustment under this Section 6(e), a Participant would become
entitled to a fractional Common Share, the Participant has the right to acquire only the adjusted number of full Common Shares and no payment or other adjustment will be made with respect to the fractional Common Shares so disregarded. Adjustments
under this Section 6(e) are subject to any applicable regulatory approvals. 

  

	 	(f)	 Non-Employee Director Limitations. In any calendar year,
no Participant who is a non-employee Director shall be granted Options, SARs, Share Units, Share Awards, Cash Awards or any other compensation with an aggregate fair market value as of the grant date (as
determined in accordance with applicable accounting standards) or payment date, as applicable, in excess of $750,000. This limitation will not apply with respect to any Converted Awards granted to a
non-employee Director in accordance with the Employee Matters Agreement. 

  

	 	(g)	 Other Limitations on Shares that May be Granted under the Plan. Subject to Section 6(e), (i)
the number of Common Shares issuable to Insiders, at any time, under all security-based compensation arrangements of the Company, cannot exceed 10% of issued and outstanding Common Shares of the Company and (ii) the number of Common Shares
issued to Insiders, within any one year period, under all security-based compensation arrangements of the Company, cannot exceed 10% of issued and outstanding securities and (iii) the number of Common Shares issuable to non-employee Directors, at any time, under all security-based compensation arrangements of the Company, cannot exceed 1% of issued and outstanding Common Shares of the Company. 

	7.	 Awards Under The Plan 

Awards under the Plan may be granted in the form Options, SARs, Share Units, Share Awards, Cash Awards or Converted Awards as described below.
Awards may be granted singly, in combination or in tandem as determined by the Committee, in its sole discretion. 
  

	 	(a)	 Options. Options granted under the Plan shall be designated as Nonqualified Stock Options
or ISOs. Options shall expire after such period, not to exceed a maximum of ten years, as may be determined by the Committee (the “Original Term”). If an Option is exercisable in installments, such installments or portions thereof
that become exercisable shall remain exercisable until the Option expires or is otherwise canceled pursuant to its terms. Notwithstanding anything to the contrary in this Section 7(a), except as otherwise determined by the Committee, and
subject to compliance with Section 409A of the Code (including Section 1.409A-1(v)(C)(1) of the Treasury Regulations), if the Original Term of an Option held by a Participant expires during a
Blackout Period, the term of such Option shall be extended until the tenth Business Day following the end of the Blackout Period, at which time any unexercised portion of the Option shall expire; provided, however, that in no event shall such
extension pursuant to this provision result in the term of such Option being extended beyond the latest date which would not result in an extension within the meaning of Section 1.409A-1(v)(C)(1) of the
Treasury Regulations. Except as otherwise provided in this Section 7(a), Options shall be subject to the terms, conditions, restrictions, and limitations determined by the Committee, in its sole discretion, from time to time.

  

	 	(i)	 Exercise Price. The Committee shall determine the exercise price per share for each
Option, which, except with respect to Converted Awards and Substitute Awards, shall not be less than 100% of the Market Price (as of the date of grant) of the Common Shares subject to the Option. 

 

	 	(ii)	 Exercise of Options. Upon satisfaction of the applicable conditions relating to vesting
and exercisability (including any service-based and/or performance-based vesting conditions), as determined by the Committee, and upon provision for the payment in full of the exercise price and applicable taxes due, the Participant shall be
entitled to exercise the Option and receive the number of Common Shares issuable in connection with the Option exercise. The Common Shares issued in connection with the Option exercise may be subject to such conditions and restrictions as the
Committee may determine, from time to time. The exercise price of an Option and applicable withholding taxes relating to an Option exercise may be paid by methods permitted by the Committee from time to time including, but not limited to, (1) a
cash payment; (2) subject to applicable corporate and securities laws, tendering (either actually or by attestation) Common Shares owned by the Participant (for any minimum period of time that the Committee, in its discretion, may specify),
valued at the Market Price at the time of exercise; (3) arranging to have the appropriate number of Common Shares issuable upon the exercise of an Option withheld or sold (including pursuant to a “sell-to-cover” method) pursuant to such procedures as determined by the Committee in its discretion; or (4) any combination of the above.

	 	
Additionally, the Committee may provide that an Option may be “net exercised,” meaning that upon the exercise of an Option or any portion thereof, the Company shall deliver the number
of whole Common Shares equal to (A) the difference between (x) the aggregate Market Price of the Common Shares subject to the Option (or the portion of such Option then being exercised) and (y) the aggregate exercise price for all
such Common Shares under the Option (or the portion thereof then being exercised) plus (to the extent it would not give rise to adverse accounting consequences pursuant to applicable accounting principles or to adverse tax consequences to the
Participants under Canadian federal, provincial or territorial tax laws) the amount of withholding tax due upon exercise divided by (B) the Market Price of a Common Share on the date of exercise. Any fractional share that would result from such
equation shall be canceled. 

  

	 	(iii)	 ISOs. The terms and conditions of ISOs granted hereunder shall be subject to the
provisions of Section 422 of the Code and the terms, conditions, limitations and administrative procedures established by the Committee from time to time in accordance with the Plan. At the discretion of the Committee, ISOs may be granted only
to an employee of the Company, its “parent corporation” (as such term is defined in Section 424(e) of the Code) or a Subsidiary. 

  

	 	(1)	 ISO Grants to 10% Shareholders. Notwithstanding anything to the contrary in this
Section 7(a), if an ISO is granted to a Participant who owns shares representing more than ten percent of the voting power of all classes of shares of the Company, its “parent corporation” (as such term is defined in Section 424
(e) of the Code) or a Subsidiary, the term of the Option shall not exceed five years from the time of grant of such Option and the exercise price shall be at least 110 percent of the Market Price (as of the date of grant) of the Common Shares
subject to the Option. 

  

	 	(2)	 $100,000 Per Year Limitation for ISOs. To the extent the aggregate Market Price
(determined as of the date of grant) of the Common Shares for which ISOs are exercisable for the first time by any Participant during any calendar year (under all plans of the Company) exceeds $100,000, such excess ISOs shall be treated as
Nonqualified Stock Options. 

  

	 	(3)	 Disqualifying Dispositions. Each Participant awarded an ISO under the Plan shall
notify the Company in writing immediately after the date he or she makes a “disqualifying disposition” of any Common Shares acquired pursuant to the exercise of such ISO. A “disqualifying disposition” is any disposition
(including any sale) of such Common Shares before the later of (i) two years after the date of grant of the ISO and (ii) one year after the date the Participant acquired the Common Shares by exercising the ISO. The Company may, if
determined by the Committee and in accordance with procedures established by it, retain possession of any Common Shares acquired pursuant to the exercise of an ISO as agent for the applicable Participant until the end of the period described in the
preceding sentence, subject to complying with any instructions from such Participant as to the sale of such shares. 

	 	(iv)	 No Dividends or Dividend Equivalents. No Option will be eligible for the payment of dividends or
dividend equivalents. 

  

	 	(v)	 Subject to applicable laws and Company policies, the Committee may provide in any applicable Award Agreement
that, if, as of the last day of the Original Term of the Option, (i) the Market Price of the Common Shares subject to the Option exceeds the aggregate exercise price of the Option and (ii) the Participant has not previously exercised such
Option, then the Option shall be deemed to have been automatically exercised by the Participant on such date (the “Automatic Exercise Date”), which such automatic exercise shall be made on a “net exercise” basis (pursuant
to such terms and procedures as determined by the Committee) to cover the applicable exercise price applicable to such Option and any applicable tax withholding obligations; provided that, unless otherwise determined by the Committee, this
Section 7(a)(v) shall not apply to any Option held by a Participant who has incurred a Termination of Service on or before the Automatic Exercise Date. 

  

	 	(b)	 Share Appreciation Rights. A SAR represents the right to receive a payment in cash, Common
Shares, or a combination thereof, in an amount equal to the product of (1) the excess of the Market Price per Common Share on the date the SAR is exercised over the exercise price per Common Share of such SAR (which exercise price shall be no
less than 100% of the Market Price of the Common Shares subject to the SAR as of the date the SAR was granted, except in the case of Substitute Awards and Converted Awards) and (2) the number of Common Shares subject to the portion of the SAR
being exercised. If a SAR is paid in Common Shares, the number of Common Shares to be delivered will equal the amount determined to be payable in accordance with the prior sentence divided by the Market Price of a Common Share at the time of
payment. The Committee shall establish the Original Term of a SAR, which shall not exceed a maximum of ten years. Notwithstanding anything to the contrary in this Section 7(b), except as otherwise determined by the Committee, and subject to
compliance with Section 409A of the Code (including Section 1.409A-1(v)(C)(1) of the Treasury Regulations) if the Original Term of a SAR held by the Participant expires during a Blackout Period, the
term of such SAR shall be extended until the tenth Business Day following the end of the Blackout Period, at which time any unexercised portion of the SAR shall expire; provided, however, that in no event shall such extension pursuant to this
provision result in the term of such SAR being extended beyond the latest date which would not result in an extension within the meaning of Section 1.409A-1(v)(C)(1) of the Treasury Regulations. Except as
otherwise provided in this Section 7(b), SARs shall be subject to the terms, conditions, restrictions and limitations determined by the Committee, in its sole discretion, from time to time. A SAR may only be granted to an Eligible Recipient to
whom an Option could be granted under the Plan. No SAR will be eligible for the payment of dividends or dividend equivalents. 

  

	 	(c)	 Share Units. A Share Unit is an Award that represents the right to receive a Common Share or a
cash payment equal to the Market Price of a Common Share. Subject to the terms of the Plan, Share Units shall be subject to such terms and conditions (including, without limitation, service-based and/or performance-based vesting conditions,
including Performance Criteria), restrictions and limitations as the Committee may determine to be applicable to such Share Units, in its sole discretion, from time to time and set forth in the applicable Award Agreement. 

	 	(i)	 Share Units Subject to Performance Criteria. If the Share Unit is subject to
performance-based vesting conditions, (1) the Performance Criteria to be achieved during any Performance Period, the applicable range for the Performance Multiplier, the amount of any payment to be made pursuant to any such Award, the length of
any Performance Period and the number of Share Units granted will be determined by the Committee; and (2) the Award Agreement will specify the Performance Multiplier applicable to the Performance Criteria. 

 

	 	(ii)	 Delivery of Common Shares or Cash Upon Settlement. Upon satisfaction of the applicable conditions
relating to vesting (including the achievement or satisfaction of any Performance Criteria), the Committee will determine the number of Share Units that will vest, which, to the extent applicable, will be based on the Performance Multiplier (if
any). Settlement of any such Award of Share Units shall be made in Common Shares, cash or a combination of Common Shares and cash, as determined in the discretion of the Committee. 

 

	 	(iii)	 Blackout Period. In the event that any Share Unit is scheduled by its terms to be settled
in Common Shares (the “Original Distribution Date”) during a Blackout Period, then, if the Participant is restricted from selling Common Shares during the Blackout Period, the Committee in its discretion, may determine that such
Common Shares subject to the Share Unit shall not be delivered on such Original Distribution Date and shall instead be delivered as soon as practicable following the expiration of the Blackout Period; provided, however, that in no event shall
the delivery of the Common Shares be delayed pursuant to this provision beyond the latest date on which such delivery could be made without violating Section 409A of the Code. 

 

	 	(iv)	 Dividend Equivalents. Share Units may be credited with dividend equivalents, subject to and in
accordance with Section 8 of the Plan. (d) Share Awards. 

  

	 	(i)	 Form of Awards. The Committee may grant Awards that are payable in Common Shares or
denominated in units equivalent in value to Common Shares or are otherwise based on or related to Common Shares (“Share Awards”), including, but not limited to, Share Payments, Restricted Shares, and Deferred Shares. Share Awards
shall be subject to such terms, conditions (including, without limitation, service-based and performance-based vesting conditions, including Performance Criteria), restrictions and limitations as the Committee may determine to be applicable to such
Share Awards, in its sole discretion, from time to time; provided however, that such Share Awards will be subject to any required TSX approval (to the extent applicable at such time). 

 

	 	(ii)	 Share Payment. If not prohibited by applicable law, the Committee may issue unrestricted
Common Shares in such amounts and subject to such terms and conditions as the Committee shall from time to time in its sole discretion determine. A Share Payment may (but need not) be granted as, or in payment of, a bonus, or to provide incentives
or recognize special achievements or contributions. 

	 	(iii)	 Restricted Shares. Restricted Shares shall be subject to the terms, conditions,
restrictions, and limitations determined by the Committee, in its sole discretion, from time to time. The number of Restricted Shares allocable to an Award under the Plan shall be determined by the Committee in its sole discretion.

  

	 	(iv)	 Deferred Shares. Subject to Section 409A of the Code (to the extent applicable),
Deferred Shares shall be subject to the terms, conditions, restrictions and limitations determined by the Committee, in its sole discretion, from time to time. A Participant who receives an Award of Deferred Shares shall be entitled to receive the
number of Common Shares allocable to his or her Award, as determined by the Committee in its sole discretion, from time to time, at the end of a specified deferral period determined by the Committee. Awards of Deferred Shares represent only an
unfunded, unsecured promise to deliver shares in the future and shall not give Participants any greater rights than those of an unsecured general creditor of the Company. 

 

	 	(e)	 Cash Awards. The Committee may grant Awards that are payable to Participants solely in
cash, as deemed by the Committee to be consistent with the purposes of the Plan, and, except as otherwise provided in this Section 7(e), such Cash Awards shall be subject to the terms, conditions, restrictions, and limitations determined by the
Committee, in its sole discretion, from time to time. Awards granted pursuant to this Section 7(e) may be granted with value and payment contingent upon the achievement of Performance Criteria. Payments earned hereunder may be decreased or
increased in the sole discretion of the Committee based on such factors as it deems appropriate. 

  

	 	(f)	 Converted Awards. Converted Awards shall be granted under the Plan in accordance
with the terms of the Employee Matters Agreement, and may be granted under the Plan in the form of any other Award, as determined in accordance with the Employee Matters Agreement. Notwithstanding anything in the Plan to the contrary, the terms and
conditions of the Plan will apply to Converted Awards only to the extent that such terms and conditions are not inconsistent with the terms of the Employee Matters Agreement and the terms of the applicable Converted Awards assumed by the Company in
accordance with the Employee Matters Agreement. 

  

	 	(g)	 Unless the applicable Award Agreement provides otherwise, the Committee determines otherwise or as otherwise
provided by the Employee Matters Agreement with respect to any applicable Converted Awards, (i) vesting with respect to an Award will cease upon a Termination of Service, and unvested Awards shall be forfeited upon such termination and
(ii) in the case of a Termination of Service for Cause, vested Awards shall also be forfeited. 

  

	8.	 Dividends and Dividend Equivalents 

The Committee may, in its sole discretion, provide that Share Units and/or Share Awards shall earn dividends or dividend equivalents, as
applicable. Such dividends or dividend equivalents shall be in the same amount as the dividend the Participant would have received had the Common Shares underlying the Share Unit or Share Awards been distributed to the Participant as of immediately
prior to the record date of such dividend. Such dividends or dividend equivalents may be credited to an account maintained on the books of the Company. Any payment or crediting of dividends or dividend equivalents will be subject to such terms,
conditions, restrictions and limitations as the Committee may establish, from time to time, in its sole discretion, including, without limitation, reinvestment in additional Common Shares or 

 
common share equivalents; provided, however, if the payment or crediting of dividends or dividend equivalents is in respect of a Share Unit or Share Award that is subject to Section 409A of
the Code, then the payment or crediting of such dividends or dividend equivalents shall conform to the requirements of Section 409A of the Code and such requirements shall be specified in writing; and provided further, the payment or crediting
of dividends or dividend equivalents shall be subject to the applicable regulations of the TSX (to the extent applicable at such time). Notwithstanding the foregoing, dividends or dividend equivalents (i) shall have the same vesting dates and
shall be paid in accordance with the same terms as the Award to which they relate and (ii) with respect to any Award subject to the achievement of Performance Criteria, shall not be paid unless and until the relevant Performance Criteria have
been satisfied, and then only to the extent determined by the Committee, as specified in the Award Agreement. 
  

	9.	 Nontransferability  

Except as may be permitted by the Committee or as specifically provided in an Award Agreement, Awards granted under the Plan, and during any
period of restriction on transferability, Common Shares issued in connection with the exercise of an Option or a SAR, may not be sold, pledged, hypothecated, assigned, margined or otherwise transferred in any manner other than by will or the laws of
descent and distribution, unless and until the shares underlying such Award have been issued, and all restrictions applicable to such shares have lapsed or have been waived by the Committee. No Award or interest or right therein shall be subject to
the debts, contracts or engagements of a Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be
voluntary or involuntary or by operation of law, by judgment, lien, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy and divorce), and any attempted disposition thereof shall be null and void, of no
effect, and not binding on the Company in any way. Notwithstanding the foregoing, the Committee may, in its sole discretion, permit (on such terms, conditions and limitations as it may establish) Nonqualified Stock Options and/or shares issued in
connection with an Option or a SAR exercise that are subject to restrictions on transferability, to be transferred to a member of a Participant’s immediate family or to a trust or similar vehicle for the benefit of a Participant’s
immediate family members. During the lifetime of a Participant, all rights with respect to Awards shall be exercisable only by such Participant or, if applicable pursuant to the preceding sentence, a permitted transferee. 

10. Effect of a Termination of Service 
  

	 	(a)	 The Committee may provide, by rule or regulation or in any applicable Award Agreement, or may determine in any
individual case, the circumstances in which, and the extent to which, an Award may be exercised, settled, vested, paid or forfeited in the event of a Participant’s Termination of Service. 

 

	 	(b)	 Subject to Section 409A of the Code, the Committee may determine, in its discretion, whether, and the
extent to which, (i) an Award will vest during a leave of absence, (ii) a reduction in service level (for example, from full-time to part-time employment) will cause a reduction, or other change, to an Award and (iii) a leave of
absence or reduction in service will be deemed a Termination of Service. 

	11.	 Change of Control 

 

	 	(a)	 Unless otherwise determined in an Award Agreement, in the event of a Change of Control, the Committee may, in
its sole discretion, and on such terms and conditions as it deems appropriate, take any one or more of the following actions with respect to any outstanding Award, which need not be uniform with respect to all Participants and/or Awards:

  

	 	(i)	 continuation or assumption of such Award by the Company (if it is the surviving corporation) or by the
successor or surviving entity or its parent; 

  

	 	(ii)	 substitution or replacement of such Award by the successor or surviving entity or its parent with cash,
securities, rights or other property to be paid or issued, as the case may be, by the successor or surviving entity (or a parent or subsidiary thereof), with substantially the same terms and value as such Award (including any applicable performance
targets or criteria with respect thereto); 

  

	 	(iii)	 acceleration of the vesting and the lapse of any restrictions thereon, and in the case of any Option or SAR
Award, acceleration of the right to exercise such Award during a specified period, in each case: 

  

	 	(A)	 with respect to each outstanding Award that is assumed or substituted in connection with a Change of Control,
in the event of a Participant’s Termination of Service (including upon a termination of the Participant’s employment by the Company (or a successor or acquiring corporation or its parent) without Cause or by the Participant for Good
Reason, in each case during the 12-month period (or such other period determined by the Committee and specified in the applicable Award Agreement) immediately following such Change of Control, (x) such
Award shall become fully vested and exercisable, (y) the restrictions, payment conditions, and forfeiture conditions applicable to any such Award granted shall lapse, and (z) any performance conditions (including any Performance Criteria)
imposed with respect to Awards shall be deemed to be achieved at target performance levels (or at such other level as determined by the Committee in its discretion or specified in the applicable Award Agreement or the definitive transaction
documentation in connection with such Change of Control). 

  

	 	(B)	 With respect to each outstanding Award that is not assumed or substituted in connection with a Change of
Control immediately upon the occurrence of the Change of Control, (x) such Award (including both time-based and performance-based Awards) shall become fully vested and exercisable based on a fraction, the numerator of which is the number of
days between the grant date and the date of the Change of Control and the denominator of which is the number of days during the period beginning on the grant date of the Award and ending on the date of vesting of the Award (or such other period as
determined by the Committee in its discretion or as may be set forth in the applicable Award Agreement), (y) the restrictions, payment conditions, and forfeiture conditions applicable to any such Award granted shall lapse, and (z) any
performance conditions (including any Performance Criteria) imposed with respect to Awards shall be deemed to be achieved at target performance levels (or at such other level as determined by the Committee in its discretion or specified in the
applicable Award Agreement or the definitive transaction documentation in connection with such Change of Control) (for the avoidance of doubt, prorated (to the extent applicable) in accordance with clause (B)). 

	 	(C)	 For purposes of this Section 11(a)(iii), an Award shall be considered assumed or substituted for if,
following the Change of Control, the Award remains subject to the same terms and conditions that were applicable to the Award immediately prior to the Change of Control, except that, if the Award related to Common Shares, the Award instead confers
the right to receive common equity of the surviving or acquiring entity (or its parent). 

  

	 	(iv)	 in the case of an Award subject to performance-vesting conditions (including Performance Criteria),
determination of the level of attainment of the applicable performance-vesting condition(s); and 

  

	 	(v)	 cancellation of such Award in consideration of a payment, with the form, amount and timing of such payment
determined by the Committee in its sole discretion, subject to the following: (A) such payment shall be made in cash or, subject to any required TSX approval (to the extent applicable at such time), securities, rights and/or other property;
(B) the amount of such payment shall equal the value of such Award, as determined by the Committee in its sole discretion (which may be determined by reference to the consideration paid per Common Share in the Change of Control); provided
that, in the case of an Option or SAR Award, if such value equals the Intrinsic Value of such Award, such value shall be deemed to be valid; provided further that, if the Intrinsic Value of an Option or SAR Award is equal to or less than
zero, the Committee may, in its sole discretion, provide for the cancellation of such Award without payment of any consideration therefor (for the avoidance of doubt, in the event of a Change of Control, the Committee may, in its sole discretion,
terminate any Option or SAR Awards for which the exercise price is equal to or exceeds the per Common Share value of the consideration to be paid in the Change of Control transaction without payment of consideration therefor); and (C) such
payment shall be made promptly following such Change of Control or on a specified date or dates following such Change of Control; provided that the timing of such payment shall comply with Section 409A of the Code. 

 

	 	(b)	 For purposes of this Agreement, a “Change of Control” shall be deemed to occur if and when the
first of the following occurs: 

  

	 	(i)	 the acquisition (other than from the Company), by any person (as such term is defined in Section 13(d) or
14(d) of the Exchange Act, including a “group” as defined in Section 13(d) thereof) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of fifty percent
(50%) or more of the combined voting power of the Company’s then outstanding voting securities; 

  

	 	(ii)	 the individuals who, as of the date hereof, are members of the Board (the “Incumbent Board”),
cease for any reason to constitute at least a majority of the Board, unless the election, or nomination for election by the Company’s shareholders, of any new director was approved by a vote of at least a majority of the Incumbent Board, and
such new director shall be considered as a member of the Incumbent Board; 

	 	(iii)	 the closing of an amalgamation or similar business combination (each, an “Amalgamation”)
involving the Company if (i) the shareholders of the Company, immediately before such Amalgamation, do not, as a result of such Amalgamation, own, directly or indirectly, more than fifty percent (50%) of the combined voting power of the then
outstanding voting securities of the entity resulting from such Amalgamation (or, if the entity resulting from such Amalgamation is then a subsidiary, the ultimate parent thereof) in substantially the same proportion as their ownership of the
combined voting power of the voting securities of the Company outstanding immediately before such Amalgamation or (ii) immediately following the Amalgamation, the individuals who comprised the Board immediately prior thereto do not constitute
at least a majority of the board of directors of the entity resulting from such Amalgamation (or, if the entity resulting from such Amalgamation is then a subsidiary, the ultimate parent thereof); 

 

	 	(iv)	 a complete liquidation or dissolution of the Company or the consummation of the sale or other disposition of
all or substantially all of the assets of the Company. 

  

	 	(c)	 Notwithstanding the foregoing, a Change of Control shall not be deemed to occur solely because fifty percent
(50%) or more of the combined voting power of the Company’s then outstanding securities is acquired by (i) a trustee or other fiduciary holding securities under one or more employee benefit plans maintained by the Company or any of its
subsidiaries or (ii) any corporation which, immediately prior to such acquisition, is owned directly or indirectly by the shareholders of the Company in the same proportion as their ownership of shares in the Company immediately prior to such
acquisition. In addition, notwithstanding the foregoing, solely to the extent required by Section 409A of the Code, a Change of Control shall be deemed to have occurred only if a change in the ownership or effective control of the Company or a
change in ownership of a substantial portion of the assets of the Company shall also be deemed to have occurred under Section 409A of the Code and the Treasury Regulations thereunder. 

 

	12.	 Clawback 

The Committee may specify in an Award Agreement that a Participant’s rights, payments and benefits with respect to an Award shall be
subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include a Termination of Service,
violation of material policies, breach of non-competition, non-solicitation, confidentiality or other restrictive covenants, or requirements to comply with minimum share
ownership requirements, that may apply to the Participant, or other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Subsidiaries (or, in the case of Converted Awards held by the BHC
Participants, the Parent Group (as defined in the Employee Matters Agreement)). The Committee shall have full authority to implement any policies and procedures necessary to comply with Section 10D of the Exchange Act and any rules promulgated
thereunder and any other regulatory regimes. Notwithstanding anything to the contrary contained herein, any Awards granted under the Plan (including any amounts or benefits arising from such Awards) shall be subject to any clawback or recoupment
arrangements or policies the Company (or, in the case of Converted Awards held by BHC Participants, BHC) has in place from time to time, and the Committee may, to the extent permitted by applicable law and stock exchange rules or by any applicable
Company policy or arrangement, and shall, to the extent required, cancel or require reimbursement of any Awards granted to the Participant or any Common Shares issued or cash received upon vesting, exercise or settlement of any such Awards or sale
of Common Shares underlying such Awards. 

	13.	 Award Agreements 

Each Award under the Plan shall be evidenced by an Award Agreement (as such may be amended from time to time) that sets forth the terms,
conditions, restrictions and limitations applicable to the Award, including, but not limited to, the provisions governing vesting, exercisability, payment, forfeiture, and Termination of Service, all or some of which may be incorporated by reference
into one or more other documents delivered or otherwise made available to a Participant in connection with an Award. 
  

	14.	 Tax Withholding 

Participants shall be solely responsible for any applicable taxes (including, without limitation, income, payroll and excise taxes) and
penalties, and any interest that accrues thereon, which they incur in connection with the receipt, vesting or exercise of an Award. The Company and its Subsidiaries and Affiliates shall have the right to require payment of, or may deduct from any
payment made under the Plan or otherwise to a Participant, or may permit shares to be tendered or sold, including Common Shares delivered or vested in connection with an Award, in an amount sufficient to cover withholding of any federal, state,
provincial, territorial, local, foreign or other governmental taxes or charges required by law or such greater amount of withholding as the Committee shall determine from time to time and to take such other action as may be necessary to satisfy any
such withholding obligations. It shall be a condition to the obligation of the Company to issue Common Shares upon the exercise of an Option, or SAR, or upon settlement of a Share Award, that the Participant pay to the Company, on demand, such
amount as may be requested by the Company for the purpose of satisfying any tax withholding liability. If the amount is not paid, the Company may refuse to issue shares. Notwithstanding anything to the contrary herein, satisfaction of tax
withholding obligations in respect of Converted Awards held by BHC Participants shall be subject to the terms set forth in the Employee Matters Agreement (including, without limitation, Section 8.06 thereof). 

 

	15.	 Other Benefit and Compensation Programs 

Awards received by Participants under the Plan shall not be deemed a part of a Participant’s regular, recurring compensation for purposes
of calculating payments or benefits from any Company benefit plan or severance program unless specifically provided for under the plan or program. Unless specifically set forth in an Award Agreement, Awards under the Plan are not intended as payment
for compensation that otherwise would have been delivered in cash, and even if so intended, such Awards shall be subject to such vesting requirements and other terms, conditions and restrictions as may be provided in the Award Agreement. 

 

	16.	 Unfunded Plan 

The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. The Plan shall not establish any
fiduciary relationship between the Company and any Participant or other Person. To the extent any Participant holds any rights by virtue of an Award granted under the Plan, such rights shall constitute general unsecured liabilities of the Company
and shall not confer upon any Participant or any other Person any right, title, or interest in any assets of the Company. 

	17.	 Rights as a Shareholder 

Unless the Committee determines otherwise, a Participant shall not have any rights as a shareholder with respect to Common Shares covered by an
Award until the date the Participant becomes the holder of record with respect to such Common Shares. No adjustment will be made for dividends or other rights for which the record date is prior to such date, except as provided in Section 8.

  

	18.	 Future Rights 

No Eligible Recipient shall have any claim or right to be granted an Award under the Plan. There shall be no obligation of uniformity of
treatment of Eligible Recipients under the Plan. Further, the Company and its Subsidiaries and Affiliates may adopt other compensation programs, plans or arrangements as deemed appropriate or necessary. The adoption of the Plan, or grant of an
Award, shall not confer upon any Eligible Recipient any right to continued employment or service in any particular position or at any particular rate of compensation, nor shall it interfere in any way with the right of the Company or a Subsidiary or
Affiliate to terminate the employment or service of Eligible Recipients at any time, free from any claim or liability under the Plan. 
  

	19.	 Amendment and Termination  

 

	 	(a)	 The Plan and any Award may be amended, suspended or terminated at any time by the Board, provided that no
amendment shall be made without shareholder approval if such shareholder approval is required in order to comply with applicable law or the rules of the New York Stock Exchange, the rules of the Toronto Stock Exchange or any other securities
exchange on which the Common Shares are traded or quoted. Except as otherwise provided in Section 11(a), no termination, suspension or amendment of the Plan or any Award shall materially adversely affect the right of any Participant with
respect to any Award theretofore granted, as determined by the Committee, without such Participant’s written consent. 

  

	 	(b)	 Notwithstanding Section 19(a), the Company shall obtain shareholder approval for: (i) except as
provided in Section 6(e), a reduction in the exercise price or purchase price of an Award (or the cancellation and re-grant of an Award resulting in a lower exercise price or purchase price); (ii) the
extension of the Original Term of an Option; (iii) any amendment to the ISO limits described in Section 6(d); (iv) any amendment to remove or to exceed the participation limits described in Section 6(g), including but not limited to
those applicable to Insiders; (v) an increase to the maximum number of Common Shares issuable under the Plan pursuant to Section 6(a) (other than adjustments in accordance with Section 6(e)); (vi) amendments to this Section 19
other than amendments of a clerical nature; and (vii) any amendment that permits Awards to be transferable or assignable other than for normal estate settlement purposes or for other purposes not involving the receipt of monetary consideration.

	20.	 Option and SAR Repricing 

Except as provided in Section 6(e) and without limiting Section 19(b)(i), the Committee may not, without shareholder approval, seek
to effect any re-pricing of any previously granted “underwater” Option or SAR by: (i) amending or modifying the terms of the Option or SAR to lower the exercise price; (ii) cancelling the
underwater Option or SAR and granting either (A) replacement Options or SARs having a lower exercise price or (B) Restricted Shares, Share Units, or Other Share Awards in exchange; or (iii) cancelling or repurchasing the underwater
Options or SARs for cash or other securities. An Option or SAR will be deemed to be “underwater” at any time when the Market Value of the Common Shares covered by such Award is less than the exercise price of the Award. 

 

	21.	 Successors and Assigns 

The Plan and any applicable Award Agreement shall be binding on all successors and assigns of a Participant, including, without limitation, the
estate of such Participant and the executor, administrator or trustee of such estate, or any receiver or trustee in bankruptcy or representative of the Participant’s creditors. 

22. Severability 
 If any provision
of the Plan or any Award Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction, or as to any Participant or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee,
such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award Agreement,
such provision shall be stricken as to such jurisdiction, Participant or Award, and the remainder of the Plan and any such Award Agreement shall remain in full force and effect. 

 

	23.	 Governing Law 

The Plan and all agreements entered into under the Plan shall be governed, construed and administered in accordance with the laws of the
Province of Ontario and the laws of Canada applicable therein. 
  

	24.	 Interpretation 

The Plan is designed and intended, to the extent applicable, to provide for grants and other transactions which are exempt under Rule 16b-3, and all provisions hereof shall be construed in a manner to so comply. Awards under the Plan are also intended to be exempt from, or otherwise comply with Section 409A of the Code to the extent subject
thereto, and the Plan and all Awards shall be interpreted in accordance with Section 409A of the Code and Treasury Regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other
guidance that may be issued after the effective date of the Plan. If any provision of the Plan or any term or condition of any Award would otherwise frustrate or conflict with this intent, the provision, term or condition shall be interpreted and
deemed amended so as to avoid this conflict. Notwithstanding any provision in the Plan to the contrary, no payment or distribution under this Plan that constitutes an item of deferred compensation under Section 409A of the Code and becomes
payable by reason of a Participant’s Termination of Service with the Company shall be made to such Participant until such Participant’s Termination of Service constitutes a Separation from Service. For purposes of this Plan and any Award
granted 

 
hereunder, each amount to be paid or benefit to be provided shall be construed as a separate identified payment for purposes of Section 409A of the Code. If a participant is a Specified
Employee, then to the extent necessary to avoid the imposition of taxes under Section 409A of the Code, such Participant shall not be entitled to any payments upon a termination of his or her employment or service until the earlier of:
(i) the expiration of the six (6)-month period measured from the date of such Participant’s Separation from Service or (ii) the date of such Participant’s death. Upon the expiration of the applicable waiting period set forth in
the preceding sentence, all payments and benefits deferred pursuant to this Section 24 (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such deferral) shall be paid to such Participant in
a lump sum as soon as practicable, but in no event later than sixty (60) calendar days, following such expired period, and any remaining payments due under this Plan will be paid in accordance with the normal payment dates specified for them
herein or the terms of the applicable Award. If an Award includes a “series of installment payments” (within the meaning of Section 1.409A-2(b)(2)(iii) of the Treasury Regulations), a
Participant’s right to such series of installment payments shall be treated as a right to a series of separate payments and not as a right to a single payment, and if an Award includes “dividend equivalents” (within the meaning of Section 1.409A-3(e) of the Treasury Regulations), a Participant’s right to such dividend equivalents shall be treated separately from the right to other amounts under the Award. Notwithstanding any
provision of the Plan to the contrary, in no event shall the Company or any Affiliate be liable to a Participant on account of an Award’s failure to (i) qualify for favorable U.S. or foreign tax treatment or (ii) avoid adverse tax
treatment under U.S. or foreign law, including, without limitation, Section 409A, 4999 or 457A of the Code. 
 25. Data Protection 

In connection with the Plan, the Company or its Affiliates, as applicable, may need to process personal data (as such term, “personal
information,” “personally identifiable information,” or any other term of comparable intent, is defined under applicable laws or regulations, in each case to the extent applicable) provided by the Participant to, or otherwise obtained
by, the Company or its Affiliates, their respective third party service providers or others acting on the Company’s or its Affiliates’ behalf. Examples of such personal data may include, without limitation, the Participant’s name,
account information, social security number, tax number and contact information. The Company or its Affiliates may process such personal data for the performance of the contract with the Participant in connection with the Plan and in its legitimate
business interests for all purposes relating to the operation and performance of the Plan, including but not limited to: 
  

	 	(a)	 administering and maintaining Participant records; 

 

	 	(b)	 providing the services described in the Plan; 

 

	 	(c)	 providing information to future purchasers or merger partners of the Company or any Affiliate, or the business
in which such Participant works; and 

  

	 	(d)	 responding to public authorities, court orders and legal investigations and complying with law, as applicable.

 The Company or its Affiliates may share the Participant’s personal data with (i) Subsidiaries and
Affiliates, (ii) trustees of any employee benefit trust, (iii) registrars, (iv) brokers, (v) third party administrators of the Plan, (vi) third party service providers acting on the Company’s or its Affiliates’ behalf
to provide the services described above, (vii) future purchasers or merger partners (as described above) or (viii) regulators and others, as required by law or in order to provide the services described in the Plan. 

If necessary, the Company or its Affiliates may transfer the Participant’s personal data to any of the parties mentioned above in a country or territory
that may not provide the same protection for the information as the Participant’s home country. Any transfer of the Participant’s personal data to recipients in a third country will be made subject to appropriate safeguards or applicable
derogations provided for, and to the extent required, under applicable law. Further information on those safeguards or derogations can be obtained through, and other questions regarding this Section 25 may be directed to, the contact set
forth in the applicable employee privacy notice or other privacy policy that previously has been made available by the Company or its applicable Affiliate to the Participant (as applicable, and as updated from time to time by the Company or its
applicable Affiliate upon notice to the Participant, the “Employee Privacy Notice”). The terms set forth in this Section 25 are supplementary to the terms set forth in the Employee Privacy Notice (which, among other things,
further describes the Company’s and its Affiliates’ processing activities, and the rights of the Participant, with respect to the Participant’s personal data); provided that, in the event of any conflict between the terms of
this Section 25 and the terms of the Employee Privacy Notice, the terms of this Section 25 shall govern and control in relation to the processing of such personal data in connection with the Plan. 

The Company and its Affiliates will keep personal data collected in connection with the Plan for as long as necessary to operate the Plan or as necessary to
comply with any legal or regulatory requirements and in accordance with the Company’s and its Affiliates’ backup and archival policies and procedures. 

Certain Participants may have a right, as further described in the Employee Privacy Notice, to (i) request access to and rectification or erasure of the
personal data provided, (ii) request the restriction of the processing of his or her personal data, (iii) object to the processing of his or her personal data, (iv) receive the personal data provided to the Company or its Affiliates
and transmit such data to another party, and (v) to lodge a complaint with a supervisory authority.

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