Document:

EX-10.20

 IMAX CORPORATION 

EXHIBIT 10.20 
 Richard
Gelfond - CEO Compensation Term Sheet 
 December 20, 2013 
  

							
	 Component
	  	 Terms

		
	Term	  	Three years (2014 – 2016)
		
	Salary	  	$1.1 million annually
		
	Annual Incentive	  	 100% of salary at target ($1.1 million)

(Potential payout ranges from 0% - 200% based on performance goals determined annually by the Board)

		
	Long-Term Incentive	  	$5.2 million annual grant date value
	  	•	  	  
 Stock Options - $3.9 million

	  	  
 •
	  	RSUs (time vested) - $1.3 million
	  	  
 Grant timing for 2014 grant: Likely to be expiration of
current blackout period.

	  	  
 Stock Options

	  	  
 •
	  	  
 Annual stock option grants made in 2014, 2015, and 2016,
each vesting by the end of 2016

	  		  	  
 •
	  	  
 2014 grant vests one-third during each year (pursuant to same vesting
schedule as the most recent option agreement), with the last tranche for the applicable year vesting no later December 31 of that year, over 3 years following grant

	  		  	  
 •
	  	  
 2015 grant vests one-half during each year (pursuant to the same vesting
schedule as the most recent option grant), with the last tranche for the applicable year vesting no later than December 31 of that year, over 2 years following grant

	  		  	  
 •
	  	  
 2016 grant vests (pursuant to the same vesting schedule as the most
recent option agreement), fully over one year, with the last tranche vesting no later than December 31, 2016.

	  	  
 RSUs

	  	  
 •
	  	  
 Three years of grants made upfront on or around Dec. 31,
2013 ($3.9 million upfront value)

	  	  
 •
	  	  
 Grant vests one-third per year over 3 years following grant,
based solely on time

		
	Equity Treatment Upon CIC	  	Unvested equity (stock options and RSUs) vests automatically upon a CIC if employment is terminated without cause or for “good reason” (e.g., diminution of responsibilities, including change of reporting
relationship) at any time after the CIC
			
		  	•	  	Ungranted stock options paid out in cash at grant date value upon a CIC if employment is terminated without cause or for “good reason” (i.e., diminution of responsibilities, including change of reporting
relationship) at any time after the CIC

							
	 Component
	  	 Terms

	  
 Post-Termination Option Treatment
	  	  
 Time remaining in which to exercise options following
termination of employment:

	  	  
 •
	  	  
 Termination not-for-cause or resignation for Good Reason
– 5, 4, and 3 years, respectively, from end of contract term for 2014, 2015, and 2016 grants

	  	  
 •
	  	  
 Non-renewal of contract by IMAX on at least substantially
the same terms – same as above

	  	  
 •
	  	  
 Resignation by CEO without Good Reason – 2 years from
resignation

	  
 Driver
	  	  
 •
	  	  
 Paid by the Company ($100,000)

	  
 Miscellaneous
	  	  
 •
	  	  
 Insurance on pension amount – to be
clarified

	  
 Approximate Annual Target Economic Value
	  	  
 •
	  	  
 Salary - $1.1 million

	  	  
 •
	  	  
 Annual Incentive - $1.1 million

	  	  
 •
	  	  
 Long-term Incentive - $5.2 million

	  	  
 •
	  	  
 Driver - $100,000

	  	  
 •
	  	  
 TOTAL - $7.5 million

	  
 Other
	  	  
 •
	  	  
 Definitions and other terms to continue substantially the
same as provided in current employment agreement and to be incorporated into a new long form employment agreement.EX-10.22

 IMAX CORPORATION 

EXHIBIT 10.22 
 FIRST
AMENDING AGREEMENT 
 This Amendment to Employment Agreement dated as of December 31st, 2007 (the “Amending Agreement”) is made between:

 IMAX CORPORATION, a corporation incorporated under the laws of Canada (hereinafter referred to as the “Company”), 

and 
 GREG FOSTER, of the City of Los Angeles in the
State of California 
 ( the “Executive”), 

WHEREAS, the Company wishes to enter into this Amending Agreement to amend and extend the Employment Agreement dated as of March 1, 2006 between
the Company and the Executive (together, the “Agreement”), whereunder the Executive provides services to the Company, and the Executive wishes to so continue such engagement, as hereinafter set forth; 

NOW, THEREFORE, in consideration of good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows: 
 1. Section 1.3 of the Agreement shall be deleted and replaced with the following: 

“Section 1.3 Term of Employment. The Executive’s employment under this Agreement commenced on the 19th day of March, 2001 (the
“Commencement Date”) and shall terminate on the earlier of (i) July 1, 2010, or (ii) the termination of the Executive’s employment pursuant to this Agreement. The period commencing as of the Commencement Date and ending
on July 1, 2010 or such later date to which the term of the Executive’s employment under this Agreement shall have been extended is hereinafter referred to as the “Employment Term.” 

2. Section 2.2 of the Agreement shall be amended to add the following sentence at the end of the first paragraph as follows: 

“Notwithstanding the foregoing, in respect of each of the 2008 and 2009 fiscal years, the Executive shall be paid a Minimum Bonus equal to US$
425,000 per year. 
 3. Section 2.3.1 of the Agreement shall be deleted and replaced with the following: 

“Section 2.3.1 Incentive Compensation. On the later of : (a) December 31st, 2007 and (b) if, on December 31st, 2007, the
Company has material information which has not been publicly disclosed, the date which is fifteen (15) days after the date on which such information is publicly disclosed, the Executive shall be granted 300,000 stock appreciation rights
(“SARS”) which shall entitle the Executive to receive in cash from the Company any increase in the fair market value of the common shares of the Company from the fair market value thereof on December 31, 2007 to the date of exercise
of the SARS. 150,000 SARS shall vest on each of July 1, 2009 and July 1, 2010. All SARS will have a 10-year term, commencing on the date of grant and, to the extent applicable, the SARs shall be governed by the provisions of the
Stock Option Plan of the Company (the “Plan”), including for greater certainty, the provisions relating to the calculation of the fair market value of common shares of the Company, resignation or termination; provided, however, that
to the extent any provisions of the Plan conflict with provisions of the Agreement, the provisions of the Agreement shall apply. The vesting of all SARS shall be accelerated upon a “change of control” as defined in the Plan and shall
be governed, to the extent applicable, by the provisions in the 

 
Agreement regarding change of control. At any time and from time to time after vesting, but subject to the insider trading policy of the Company in effect at that time which shall apply to
the SARS as if they were securities covered thereby, the Executive shall be entitled to exercise some or all of the vested SARS by delivering notice of exercise in writing to one of the Chief Executives of the Company. Within 10 business days after
receipt of such notice in writing, the Company shall pay to the Executive the amount by which the fair market value of the common shares of the Company has increased from the fair market value on the date of grant to the fair market value on the
date of such notice, net of any applicable withholdings and any other amounts owing at that time by the Executive to the Company. Notwithstanding anything to the contrary contained herein, the Company shall have the right but not the obligation
to cancel at any time all, or from time to time any part, of the SARS, in any case upon notice in writing to the Executive and to replace the cancelled SARS with a grant of stock options under the Plan (the “Options”) provided that
(i) such Options have no less favorable (to the Executive) material terms and conditions as, and are in such number as are of equivalent value to, the cancelled SARS, and (ii) the Company cannot replace cancelled SARs with stock options if
such options have a higher exercise price than the fair market value of the common shares of the Company on December 31st, 2007. 
 In addition, if
there is a “Change of Control” of the Company (as defined in the Agreement) on or before March 10, 2009, the Employee shall be paid an incentive bonus equal to the difference between the price of the Common Shares upon such Change of
Control and the price of the Common Shares on March 10, 2006, multiplied by 50,000. Such incentive bonus shall be paid: (i) in a lump sum in the event Employee is terminated Without Cause following such Change of Control, or (ii) in
three equal instalments on the third, fourth and fifth anniversaries of the grant date of the Options.” 
 4. The Company agrees to hire a regular
employee in the Human Resources Department who will be dedicated to and principally located in the Company’s offices in Los Angeles. 
 5. The Company
agrees that it will use its best efforts to ensure that the Executive is invited to attend regularly scheduled meetings of the Board of Directors of the Company to the extent that the Executive’s attendance is agreeable to the Board and is not
inconsistent with good corporate governance. The Executive understands and accepts that there may be meetings, or portions of meetings, where his attendance would be inappropriate and that he will not attend on these occasions. 

Except as amended herein, all other terms of the Agreement shall remain in full force, unamended. 

 IN WITNESS WHEREOF, the Company and the Executive have duly executed and delivered this Amending Agreement on
this 31st day of December, 2007. 
  

											
		  		  		  	IMAX CORPORATION
					
		  		  		  	By:	  	 “Bradley J. Wechsler”

		  		  		  		  	Name:	  	Bradley J. Wechsler
		  		  		  		  	Title:	  	Co-Chief Executive Officer
					
		  		  		  	By:	  	 “Richard L. Gelfond”

		  		  		  		  	Name:	  	Richard L. Gelfond
		  		  		  		  	Title:	  	Co-Chief Executive Officer
			
	SIGNED, SEALED AND DELIVERED	  		  	EXECUTIVE:
	in the presence of:	  		  	
			
	 “Jill Ferguson”
	  		  	 “Greg Foster”

	Witness	  		  	Greg Foster

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}]]