Document:

EX-4.14

 Exhibit 4.14 

 

					
	October 12, 2012	  	

	  	  SMART Technologies

  3636 Research Road NW

  Calgary, AB T2L 1Y1

  CANADA
  
   Phone 403.245.0333
   Fax 403.228.2500

  info@smarttech.com www.smarttech.com

 Warren Barkley 

8022 NE 145th Pl 
 Kenmore, WA, 98028

 USA 
 Dear Warren, 

Please accept this Supplemental Letter as confirmation of the Register Retirement Savings Plan (RRSP), international relocation, short term incentive
plan (STIP), long term incentive plan (LTIP) and other components of our arrangement. 
 Registered Retirement Savings Plan (RRSP)

 You are eligible to participate in SMART’s Canadian Group RRSP in accordance with the terms and conditions of such plan. The
current limit on combined employee and employer RRSP contributions is approximately $23,000 per annum. Up to 3.5 percent of your annual base salary is matched by SMART. You are required to contribute to the plan to be eligible to receive
SMART’s contribution. 
 International Relocation 
 You are eligible to receive reimbursement for relocation costs in accordance with the company’s “Relocation Terms and Conditions”, a copy of which is attached. All relocation costs
submitted for reimbursement or incurred directly by the company shall be reasonable. You may submit relocation expenses for your spouse or for dependent family members who follow you within eighteen (18) months. During the first eighteen
(18) months of employment, you may take one (1) week of paid time off in addition to the time normally provided in the Paid Time Off policy and Relocation Terms and Conditions. If any covered relocation costs are determined to be a taxable
benefit for you, the company will gross up the reimbursement so that you are not out-of-pocket on an after-tax basis. 
 Short Term
Incentive 
 You will be eligible to participate in SMART’s annual STIP with a target bonus of 100% in accordance with the terms and
conditions of the Discretionary Bonus Plan (DBP), a copy of which is attached. For the fiscal year ending March 31, 2013, your target bonus will be guaranteed, pro-rated to your start date and such amount shall be paid within 30 days of your
start date. If you leave SMART’s employ due to voluntary resignation or termination with cause before completion of one (1) year service, you will be required to repay 50 percent of the net amount received. 

Long Term Incentive 
 Stock
Options: 
  

	 	•	 	 initial award of 50,000 options, vesting in three instalments of 33 1/3% (16,667, 16,667 and 16,666 respectively) on each of the three anniversary
dates of the award 

  

	 	•	 	 subsequent awards of 50,000 options following each of the first and second anniversary, each award vesting over three years

  

	 	•	 	 Initial and subsequent stock option awards set out herein will be made in accordance with the provisions of the Amended and Restated Equity Incentive
Plan and regulatory requirements and as soon as practical after you have commenced employment, or after the respective anniversaries, as appropriate 

  

	 	•	 	 eligibility for evergreen option awards commencing with the third anniversary of the commencement of employment 

 Restricted Share Units (RSUs): 

 

	 	•	 	 initial award of 50,000 RSUs, vesting in three instalments of 33 1/3% (16,667, 16,667, and 16,666 respectively) on each of the three anniversary dates
of the award 

  

	 	•	 	 subsequent awards of 50,000 RSUs following each of the first and second anniversary dates, each award vesting over three years

  

	 	•	 	 Initial and subsequent RSU awards set out herein will be made in accordance with the provisions of the Amended and Restated Equity Incentive Plan and
regulatory requirements and as soon as practical after you have commenced employment, or after the respective anniversaries, as appropriate 

  

	 	•	 	 eligibility for evergreen RSU awards commencing with the third anniversary of the commencement of employment 

Performance Restricted Share Units (PSUs): 
  

	 	•	 	 initial grant of 250,000 PSUs, vesting on attainment of performance targets measured after 3 years, i.e. end of FY16 

 

	 	•	 	 over-performance award of an additional 250,000 PSUs, vesting on attainment of over-performance targets over 3 years, i.e. end of FY16

  

	 	•	 	 It is intended by the parties that the foregoing PSU performance targets for the initial and over-performance awards be set by mutual agreement
following board approval of the FY14 business plan 

  

	 	•	 	 Notwithstanding section 3.5 of the Executive Employment Agreement, the acceleration of these initial PSU and over-performance PSU awards shall only be
effective upon the occurrence of both a Change of Control and within one (1) year of the Change of Control an event or events that constitute Good Reason (Change of Control and Good Reason are defined within the Executive Employment Agreement).

  

	 	•	 	 Initial and over-performance PSU awards set out herein will be made in accordance with the provisions of the Amended and Restated Equity Incentive Plan
and regulatory requirements and awarded no later than is practical following approval of the FY14 business plan 

 LTIP
treatment in a change of control situation to be in line with existing company policy as outlined in your Executive Employment Agreement, except as provided above with respect to section 3.5(b) of the Executive Employment Agreement. Future evergreen
LTIP awards and quantums are to be made at the sole discretion of the Compensation Committee of the Board of Directors. 
 Implementation

 Given the complexities associated with an international executive relocation and the time required to obtain definitive advice on
various matters, the parties agree to obtain coordinated accounting, tax, immigration and other advice, and to take this advice into consideration in good faith in determining whether and how to make technical amendments to the implementation of the
arrangements contemplated herein. 
 If you have any further questions or concerns, please feel free to contact me. We look forward to having
you join SMART and work with us to build the company. 

  
 

 

 Yours truly, 
 SMART Technologies Inc. 
 Drew Fitch 

Vice President, Finance and Chief Financial Officer 
 I accept employment with SMART Technologies Inc. on the terms and conditions as outlined in the Executive Employment Agreement and this supplemental letter. 

 

									
	Signed this 12th day of October, 2013	 		 	 /s/ Warren Barkley

		 		 		 	Warren Barkley
				
	Witnessed	 	  
	 		 	  

		 	Print Name	 		 	Signature

  

	Cc:	People ServicesEX-4.15

 Exhibit 4.15 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 THIS AGREEMENT made as of the 4 day
of October, 2012. 
 BETWEEN: 
 SMART TECHNOLOGIES INC., a body corporate, with its office in the Province of Alberta (the “Corporation”) 
 OF THE FIRST PART 
 AND 

Neil Gaydon, of the United Kingdom (the “Executive”) 

OF THE SECOND PART 
 WHEREAS the parties wish to outline and confirm the terms and conditions of their employment relationship in this Executive Employment Agreement (this “Agreement”); 

NOW THEREFORE in consideration of the payment of the sum of ONE ($1.00) DOLLAR by each party to the other, the mutual covenants
and agreements hereinafter contained and other good and valuable consideration (the receipt and sufficiency which is hereby acknowledged) the parties have agreed and this Agreement witnesses as follows: 

ARTICLE 1 
 TERM OF EMPLOYMENT 
 1.1 The Corporation agrees to continue to employ the Executive in the
capacity of President & Chief Executive Officer (CEO), based in Calgary, Alberta, and reporting to the Board of Directors, and the Executive agrees to continue to perform the duties required of the Executive in accordance with this
Agreement. 
 1.2 This Agreement shall be effective as of October 22, 2012 the (“Effective Date”) and the Executive’s
employment and this Agreement shall continue indefinitely thereafter until terminated in accordance with this Agreement. 

ARTICLE 2 
 DUTIES 
 2.1 The Executive shall continue to serve the Corporation in the capacity of
President & CEO and shall continue to perform the duties, initially as outlined in Schedule “A” and as determined from time to time by the Board of Directors of the Corporation, to the best of the Executive’s ability and
hereby covenants to continue to use the Executive’s best efforts to promote the interests of the Corporation. 

 2.2 The Executive shall also continue to serve as CEO of the Corporation’s wholly owned subsidiary
SMART Technologies ULC (“SMART ULC”), and shall hold such other titles and positions with other subsidiaries and affiliates of the Corporation as may be reasonably requested by the Board of Directors of the Corporation from time to
time. 
 2.3 The Executive agrees to devote the Executive’s full time and attention to the business and affairs of the Corporation, SMART
ULC, and their affiliates and subsidiaries (the “SMART Group”) and shall not, without the consent of the Board of Directors of the Corporation, undertake during the course of the Executive’s employment any other business or
occupation or become a director, officer, consultant, advisor, employee, or agent of another company, firm or proprietorship. 

ARTICLE 3 
 REMUNERATION, BENEFITS AND OTHER 
 3.1 The Executive shall receive an annual salary
(“Annual Salary”) of CDN $775,000 less statutory deductions payable in equal instalments in arrears on a bi-weekly basis. The Annual Salary of the Executive will be reviewed on an annual basis, and may, in the absolute discretion of
the Compensation Committee of the Board of Directors of the Corporation, be increased from time to time. 
 3.2 In addition to the Annual Salary
provided for in Article 3.1, the Executive may also receive an annual bonus, the payment of terms and potential amount of up to 100% of salary are described in the Discretionary Bonus Plan and as approved by the Compensation Committee of the Board
of Directors. 
 3.3 In addition to the Annual Salary provided for in Article 3.1, the Executive shall be entitled to receive the following
perquisites and benefits as further described in the Corporation’s benefit material and Corporate policy documents (as amended from time to time): 
  

	 	(a)	participation in the group benefit plan adopted by the Corporation for all employees, and as amended from time to time; 

 

	 	(b)	participation in the Corporation’s Group RRSP in accordance with the terms and conditions of such plan; 

 

	 	(c)	paid vacation of three (3) weeks per year and not less than one (1) contiguous week per year of additional time off in accordance with the Corporation’s
Paid Time Off policy, as amended from time to time, and in taking such time off the Executive shall have regard to the business of the Corporation; 

  
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	 	(d)	eligibility to participate in an amended and restated equity incentive plan on the terms and conditions approved by the Corporation’s Board of Directors, as may be
further amended from time to time (the “Amended and Restated Equity Incentive Plan”); and 

  

	 	(e)	participation in such other plans as may be adopted by the Corporation for either all employees or executive management personnel and as amended from time to time.

 3.4 The Executive shall be reimbursed for all reasonable out-of-pocket expenses actually and properly incurred by the Executive
in connection with the Executive’s duties hereunder. For all such expenses the Executive shall furnish to the Corporation statements and vouchers as and when required by it. 
 3.5 Upon the occurrence of a Change of Control (as defined in Schedule “B”), and in the event that the Executive has been granted Restricted Share Units and/or Performance Share Units (as each
is respectively defined in the Amended and Restated Equity Incentive Plan): 
  

	 	(a)	all Restricted Share Units that would otherwise vest within the one (1) year period following the effective date of the Change of Control shall accelerate and vest
as of the effective date of the Change of Control and be paid by the Corporation in accordance with the Amended and Restated Equity Incentive Plan and the related restricted share unit agreement; and 

 

	 	(b)	all Performance Share Units outstanding as at the effective date of the Change of Control shall accelerate and vest as of the effective date of the Change of Control
and shall be redeemed and paid pursuant to the terms of the Amended and Restated Equity Incentive Plan and the relevant performance share unit agreements and the calculation of the Total Shareholder Return or other performance measures (as defined
in the relevant performance share unit agreements) shall be determined after giving effect to the transaction that constituted the Change of Control. 

 ARTICLE 4 
 TERMINATION OF THIS AGREEMENT 

4.1 The Corporation may terminate the Executive’s employment and this Agreement for just cause at any time without notice and without any payment to
the Executive whatsoever, save and except only for payment of the pro rata Annual Salary earned for services rendered up to and including the last day actually worked by the Executive, and any accrued and unused vacation pay. If the Executive’s
employment and this Agreement is terminated for just cause the Executive shall not be entitled to any bonus or pro rata bonus payment. 
 4.2
The Executive can resign from the Executive’s employment and terminate this Agreement by providing the Corporation with two (2) months’ written notice of the resignation date. If the Executive so resigns, the Executive is not entitled
to any severance compensation nor is the Executive entitled to any bonus or pro rata bonus payment. 

  
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 4.3 The employment of the Executive and the Corporation’s obligation to compensate the Executive with
respect to employment will terminate: 
  

	 	(a)	upon mutual written agreement of the parties; or 

  

	 	(b)	upon the death of the Executive. 

 4.4 The
Corporation may immediately terminate this Agreement and the Executive’s employment, for any reason other than the reasons in Articles 4.1, 4.2 and 4.3, and the Corporation shall pay the Executive, subject to the condition in Article 4.8,
within five (5) business days of the Executive’s last day actively at work (the “Termination Date”) for the Corporation, the following: 
  

	 	(a)	the pro rata Annual Salary earned, but not yet paid, up to the Termination Date; 

 

	 	(b)	all vacation accrued and unused as of the Termination Date to be calculated in accordance with the Corporation’s policies and procedures; 

 

	 	(c)	a retiring allowance calculated on the following basis (the “Retiring Allowance”): 

 

	 	(i)	two (2) times the Executive’s then Annual Salary, less required withholdings should the Executive’s employment be terminated in the first year. One and
one half (1.5) times the Executive’s then Annual Salary, less required withholdings, should the Executive’s employment be terminated after the first year; plus 

 

	 	(ii)	two (2) times the FY13 guaranteed Discretionary Bonus Plan bonus payment should the Executive’s employment be terminated in the first year. One and one half
(1.5) times the average of all Discretionary Bonus Plan bonus payments to the Executive by the Corporation in the three (3) fiscal years prior to the Termination Date, less required withholdings should the Executive’s employment be
terminated after the first year; plus 

  

	 	(iii)	in consideration of the termination of all benefits and perquisites effective the Termination Date as contemplated in Article 4.7 hereof, an additional amount equal to
seven percent (7%) of the Executive’s then Annual Salary; and 

  

	 	(d)	a payment equal to the average of all Discretionary Bonus Plan bonus payments paid to the Executive by the Corporation in the three (3) fiscal years prior to the
Termination Date, prorated to reflect the period of time that the Executive was employed with the Corporation in the fiscal year in which the Termination Date occurred. 

 

	 	(e)	In calculating the three (3) year averages referenced in Articles 4.4(c)(ii) and 4.4(d), the bonus amounts actually earned shall be used for each of the years for
which they are available, if any, and seventy-five (75) percent of the target bonus amounts shall be used for each of the remaining years, if any. 

  
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 4.5 Upon the occurrence of a Change of Control (as defined in Schedule “B”) and within one
(1) year of the Change of Control an event or events that constitute Good Reason (as defined in Schedule “B”), the Executive shall have the right, for a period of ninety (90) days following the event or events that constitute
Good Reason, to elect to terminate this Agreement and employment with the Corporation upon providing the Corporation with one (1) week advance notice. If the Executive so elects to terminate this Agreement and employment with the Corporation,
the Corporation shall, subject to the conditions in Article 4.8, pay the Executive within five (5) business days of the Termination Date the payment and Retiring Allowance provided for in Article 4.4, and in addition, any Awards (as defined in
the Corporation’s Amended and Restated Equity Incentive Plan) not accelerated and vested pursuant to the provisions of Article 3.5 shall continue to vest and be exercisable or issued in accordance with the terms of the Amended and Restated
Equity Incentive Plan during the two (2) years following the Termination Date as if the Executive’s employment had continued with the Corporation during such time. 
 4.6 The parties agree that because there can be no exact measure of the damages that the Executive would incur as a result of the termination of this Agreement and employment, the retiring allowance
payment contemplated in Articles 4.4 and 4.5, would be deemed to constitute a genuine pre-estimate of the loss that the Executive would suffer upon the termination of employment and the parties agree that this constitutes liquidated damages and not
a penalty, and the Corporation agrees that the Executive will not be required to mitigate the Executive’s damages. 
 4.7 The Executive
understands and agrees that all benefits of employment, including long-term disability coverage, will cease as of the Termination Date, and the Corporation has no liability for any damages caused by the cessation of such benefits regardless of the
reason for termination or resignation. The Corporation has no obligation to extend benefit coverage past the Termination Date. 
 4.8 The
Executive agrees that, in exchange for the payments contemplated in Articles 4.4 and 4.5, and the continued vesting under the Amended and Restated Equity Incentive Plan contemplated in Article 4.5, as the case may be, that the Executive shall
sign a full and final release in favor of the SMART Group, in a form satisfactory to the Corporation, acting reasonably, and provided such release shall not apply to any obligations of the Corporation to the Executive under indemnity agreement or
directors’ and officers’ liability insurance contracts providing coverage for claims made against directors and officers acting in their capacity as directors and officers of the Corporation. 

4.9 Notwithstanding the cessation of the Executive’s employment and the termination of this Agreement, or the manner of termination, the provisions
of Articles 5, 6, 7 and 8 of this Agreement shall survive such termination. 

  
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 ARTICLE 5 
 PERSONAL COVENANTS AND POST-TERMINATION OBLIGATIONS 
 5.1 The Executive has carefully read
and considered the provisions of this Article 5 and, having done so, agrees that the restrictions set forth in this Article are fair and reasonable, and are reasonably required for the protection of the interests of the Corporation. The Executive
recognizes and agrees that as an employee and executive of the Corporation, the Executive will become knowledgeable, aware and possessed of confidential information. The Executive acknowledges and agrees that the Corporation is the sole and
exclusive owner and proprietor of all such confidential information, and that the Executive owes a fiduciary duty to the Corporation that includes, without limitation, a duty to ensure that confidential information is and remains at all times
confidential. 
 5.2 Non-Competition 
  

	 	(a)	The Executive further acknowledges that in the course of employment the Executive will be assigned duties that will give the Executive knowledge of confidential and
proprietary information which relates to the conduct and details of SMART Group’s business including SMART Group’s customers and marketing programs and which may result in irreparable injury to the Corporation if the Executive could enter
into the employment of a business which is the same as or similar to and which is competitive to the Business (as Business is hereinafter defined). The Executive agrees with, and for the benefit of, the Corporation that the Executive shall not
without the prior written approval of the Board of Directors of the Corporation during the term of the Executive’s employment with the Corporation or at any time within the period of one (1) year following the date of cessation of the
Executive’s employment with the Corporation, however caused, either as an individual or as a partner or joint venturer or otherwise in conjunction with any person or persons, firm, association, syndicate, company or corporation, as principal,
agent, consultant, director, officer, employee, investor or in any other manner whatsoever, directly or indirectly, carry on, be engaged in, be interested in, or be concerned with, or permit the Executive’s name or any part thereof to be used
or employed by any such person or persons, firm, association, syndicate, company or corporation, carrying on, engaged in, interested in or concerned with, a business which is the same as or similar to the business conducted by SMART Group as at the
date of cessation of the Executive’s employment (the “Business”) within Canada and the United States or anywhere in the world where the SMART Group undertakes business. 

 

	 	(b)	The Executive has the right to request the Corporation in advance for its agreement that a proposed business or position is not prohibited within the terms of this
Agreement. If the Executive receives written acknowledgment by the Corporation that the Corporation does not object to the Executive’s participation in any proposed business or position, then the Executive shall be allowed to so participate.

  

	 	(c)	This Article shall not prevent the Executive from purchasing as a passive investor up to two (2%) percent of the outstanding publicly traded shares or other
securities of any class of an issuer listed on a recognized stock exchange. 

  
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 5.3 Non-Disclosure 
 The Executive understands that the Corporation desires to keep its contractual relationship with SMART Group’s customers confidential. The Executive agrees not to disclose any customer relationships
unless authorized in writing by the Corporation or required by law other than pursuant to an agreement made by the Executive. 
 5.4
Confidential Information 
 The Executive will have access to SMART Group’s confidential information including, without limitation,
information and data of or relating to its customers. Such information and data is understood to include all information and data relating to SMART Group’s or the customer’s technology, know-how, products and technical and business data,
and marketing strategies. The Executive agrees to accept and retain such information and data in confidence and, at all times during or after the termination of employment, not to disclose or reveal such information and data to others and to refrain
from using such information and data for purposes other than those authorized by the Corporation. At the request of the Corporation, and upon cessation of employment, the Executive will promptly turn over to the Corporation all written or
descriptive matter containing confidential or proprietary information or data. 
 5.5 Patent-Copyright-Trademark 

 

	 	(a)	The Executive agrees to make prompt and complete disclosure to the Corporation of any (i) invention, discovery, or improvement (“Invention”),
whether patentable or not and (ii) copyrightable material, which relate to the Business of SMART Group and which is made, conceived, or authored by the Executive, alone or with others, during the term of employment and, with respect to an
Invention, for one (1) year following the cessation of employment. 

  

	 	(b)	The Executive agrees to and does hereby assign to the Corporation all of the Executive’s right, title and interest in any Invention(s) and copyrightable material.
At the request and expense of the Corporation, the Executive will render whatever assistance may be necessary for the Corporation to secure a patent or copyright for such Invention(s) or material. 

  
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 5.6 Non-Solicitation 
 The Executive agrees that as a result of the Executive’s position with the Corporation, that the Executive has confidential information with respect to other employees, consultants and customers of
SMART Group. The Executive agrees for a period of two (2) years after cessation of the Executive’s employment with the Corporation, regardless of the reason for cessation, the Executive shall not, directly or indirectly: 

 

	 	(a)	solicit, induce, encourage or facilitate employees or consultants of SMART Group to leave the employment of, or consulting relationship with SMART Group; and

  

	 	(b)	solicit, induce, encourage or facilitate any customer the Executive knows to be a customer of SMART Group to alter, modify, vary, diminish, or cease such
customer’s relationship with SMART Group, including without limitation, in favor or for the benefit of the Executive. 

 5.7
Property 
 All reports, computer programs, manuals, listings (including customer listings) and any other documentation or data furnished
to or prepared by the Executive in connection with the Executive’s employment shall be the property of the Corporation. 
 5.8
Assistance in Litigation 
 The Executive shall, after termination of this Agreement for any reason whatsoever, upon reasonable notice
and upon payment of reasonable expenses and reasonable compensation by the Corporation (but in no event shall such payment be at a rate less than what is specified in the indemnity agreement between the Corporation and the Executive in effect from
time to time), furnish such information and proper assistance to the Corporation as may be reasonably required by the Corporation in connection with any litigation in which it is or may become a party other than litigation by the Corporation against
the Executive. 
 5.9 The Executive acknowledges and agrees that the provisions of this Article 5 do not limit the fiduciary obligations
that the Executive owes to the Corporation, both during and after the cessation of the Executive’s employment and the termination of this Agreement. 
 ARTICLE 6 
 PERSONAL DATA AND PRIVACY 

6.1 The Executive acknowledges and agrees that the Corporation has the right to collect, use and disclose the Executive’s personal information for
purposes relating to the Executive’s employment with the Corporation, including: 
  

	 	(a)	ensuring that the Executive is paid for the services performed for the Corporation; 

 

	 	(b)	administering any benefits to which the Executive is or may become entitled to, including medical, dental, disability and life insurance benefits. This shall include
the disclosure of the Executive’s personal information to any insurance company and/or broker or to any entity that manages or administers the Corporation’s benefits on behalf of the Corporation; 

  
 8 

	 	(c)	compliance with any withholding requirements relating to the Executive’s employment; 

 

	 	(d)	conducting any compensation and benefit review; 

  

	 	(e)	enforcing the Corporation’s policies including those relating to the proper use of the electronic communications network and to comply with applicable laws; and

  

	 	(f)	in the event of a potential sale or transfer of all or part of the shares or assets of the Corporation or, disclosing to any potential acquiring organization the
Executive’s personal information for the purpose of determining the value of the Corporation and to evaluate the Executive’s position in the Corporation. If the Executive’s personal information is disclosed to any potential acquiring
organization, the Corporation will require the potential acquiring organization to agree to protect the privacy of the Executive’s personal information in a manner that is consistent with any policy of the Corporation dealing with privacy that
may be in effect from time to time and/or any applicable law that may be in effect from time to time. 

ARTICLE 7 
 NOTICE 
 7.1 Any notice required to be given hereunder shall be in writing and sufficiently
made if delivered personally or mailed by prepaid registered mail to the parties at their respective addresses herein. 
  

	 	(a)	The Executive: 

 c/o SMART
Technologies Inc. 
 3636 Research Road N.W. 
 Calgary, Alberta T2L 1Y1 
  

	 	(b)	The Corporation: 

 SMART
TECHNOLOGIES INC. 
 3636 Research Road N.W. 
 Calgary, Alberta T2L 1Y1 
 Attention: Vice President, People Services 

Any such notice shall be deemed to have been given on the date it is delivered if personally delivered or, if mailed, on the third business day following
the mailing thereof. Either party may change its address for service by giving written notice hereunder. 

  
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 ARTICLE 8 
 GENERAL PROVISIONS 
 8.1 Prior Employment Agreements 

This Agreement supersedes and replaces any prior written or unwritten employment agreements between the Executive and the Corporation, including the
Former Agreement, with the exception of the Supplemental Letter (as defined in Schedule “B”) and that the Executive acknowledges that the Executive continues to be bound by all earlier confidentiality, conflict of interest, fiduciary and
intellectual property restrictions and obligations owed to the Corporation. 
 8.2 Waiver 

Any waiver by a party of any breach of any provision of this Agreement by the other party shall not be binding unless in writing, and shall not operate
or be construed as a waiver of any other or subsequent breach by the Executive. 
 8.3 Headings 

The headings used in this Agreement are for convenience only and are not to be construed in any way as additions to or limitations of the covenants and
agreements contained in it. 
 8.4 Enurement 
 The provisions of this Agreement shall enure to the benefit of and shall be binding upon the parties hereto and their respective heirs, executors, administrators, other legal personal representatives,
successors and permitted assigns. 
 8.5 Governing Law 
 This Agreement shall be governed by and construed in accordance with the laws in force in the Province of Alberta. 
 8.7 Jurisdiction and Arbitration 
 The parties agree that any dispute or claim brought by
the Corporation to enforce the covenants in Article 5 of this Agreement shall be brought before the courts of the Province of Alberta and the parties irrevocably attorn to the jurisdiction of the courts of the Province of Alberta in relation to such
disputes or claims. The parties agree that any other dispute regarding the interpretation of this Agreement, including termination of this Agreement, and any damages for breach of this Agreement, will be resolved before a single Arbitrator pursuant
to the Arbitration Act (Alberta). The decision of the Arbitration will be final and binding on the parties. The arbitration will take place in Calgary, Alberta. In addition to the costs of the arbitration, the Arbitrator will award reasonable
solicitor and own client costs and disbursements to the prevailing party in the arbitration. 

  
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 8.8 Time of the Essence 
 Time shall be of the essence of this Agreement. 
 8.9 Enforceability and Severability

 If any paragraph, subparagraph or provision of this Agreement is determined to be unenforceable by a Court of competent jurisdiction then
such provision shall be severable from the remainder of this Agreement and the remainder of this Agreement shall be unaffected thereby and shall remain in full force and effect. 

IN WITNESS WHEREOF the parties hereto have executed these presents as of the day and year first above written, and effective as of
the Effective Date. 
  

									
		 		 		 	SMART TECHNOLOGIES INC.
					
		 		 		 	Per:	 	 /s/ David Martin

		 		 		 		 	 David Martin
 Chairman of
the Board

			
	  
	 		 	 /s/ Neil Gaydon

	Witness	 		 	EXECUTIVE

  
 11 

 SCHEDULE “A” 
 The Executive’s duties and responsibilities shall include: 
  

	•	 	 Manage all strategic and day-to-day operational aspects of the company with an emphasis on productivity and bottom-line results, coupled with teamwork
and communication at all levels. 

  

	•	 	 Work with Board of Directors and executive team to refine the strategy, with input from an on-going McKinsey study, and execute the near- and long-term
action plan for the company to drive revenue growth, reduce costs, and improve current margins despite competitive pressure in the education market and enterprise markets. 

 

	•	 	 In conjunction with the Board of Directors and the management team the new leader will be required to craft the optimum approach to build on the
already established and fast growing enterprise business which generated in excess of $100 million in the last 12 months. 

  

	•	 	 Determine the optimum strategy for the education business in North America and take advantage of the growth opportunities that exists for that business
across the international markets of EMEA and APAC. 

  

	•	 	 Work closely with the management team, and Board of Directors, on critical matters and business issues such as mergers and acquisitions, new product
development, and international expansion and the exploitation of opportunities. 

  

	•	 	 Continue to create a leading-edge product organization and decide on appropriate integration/migration of all product lines. Ensure that business stays
on the leading edge of technology innovation. 

  

	•	 	 Establish an effective process to facilitate product strategy decisions. Through this process, ensure that “green-lighted” products are fully
operational and those that are not are fully terminated, thus making effective use of development resources. 

  

	•	 	 Ensure that the company has best in class supply chain from concept to delivery including high quality of manufacturing, distribution and service.

  

	•	 	 Provide necessary customer interaction to preserve and maximize the installed customer base by communicating credibly with SMART customers and
maximizing positions in existing markets. 

  

	•	 	 Drive organizational capability by enhancing a highly committed and capable management team, coaching and mentoring incumbents and/or bringing in
additional talent as needed. Provide employees with the authority, accountability, training, information and resources to achieve their full potential and successfully drive SMART’s performance. 

 

	•	 	 Be a highly accessible and visible leader to the existing organization, thereby sustaining SMART’s entrepreneurial culture while instilling
processes, infrastructure and procedures necessary for SMART to scale. 

  

	•	 	 Foster an environment which stimulates open communication, creativity, imagination and engenders a team spirit in solving problems and identifying and
capturing new business opportunities. 

 SCHEDULE “B” 

DEFINITIONS 
 For the
purposes of this Agreement the following terms mean the following: 
  

	 	(a)	“Affiliate” means affiliates and associates as those terms are defined in the Business Corporations Act (Alberta), as amended from time to time;

  

	 	(b)	“Change of Control” shall mean the occurrence of any of the following events: 

 

	 	(i)	a person, or group of persons, acting jointly and in concert, becomes the beneficial owner of securities of the Corporation constituting 50% or more of the voting power
of all outstanding voting securities of the Corporation, 

  

	 	(ii)	individuals who were proposed as nominees (but not including nominees under a shareholder proposal) to become directors of the Corporation immediately prior to a
meeting of the shareholders of the Corporation involving a contest for, or an item of business relating to, the election of directors of the Corporation, not constituting a majority of the directors of the Corporation following such election;

  

	 	(iii)	a merger, consolidation, amalgamation or arrangement of the Corporation (or a similar transaction) occurs, unless after the event, 50% or more of the voting power of
the combined corporation is beneficially owned by the same person or group of persons as immediately before the event; or 

  

	 	(iv)	the Corporation’s shareholders approve a plan of complete liquidation or winding-up of the Corporation, or the sale or disposition of all or substantially all the
Corporation’s assets (other than a transfer to an Affiliate of the Corporation); 

 provided that the
following shall not constitute a Change of Control: 
  

	 	(A)	any person, or group of persons, acting jointly or in concert, becoming the beneficial owner of the threshold of securities specified in (b) as a result of the
acquisition of securities by the Corporation or an Affiliate or a subsidiary which, by reducing the number of securities outstanding, increases the proportional number of securities beneficially held by that person or group of persons;

  

	 	(B)	any acquisition of securities directly from the Corporation in connection with a bona fide financing or series of financings by the Corporation;

	 	(C)	any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Corporation and/or its Affiliates; or 

 

	 	(D)	beneficial ownership by the Corporation or its Affiliates or any increased ownership by any of them; and 

 

	 	(c)	“Good Reason” shall mean: (i) any adverse change, by the Corporation and without the agreement of the Executive following a Change of Control, in
any of the duties, powers, rights, discretions, salary, bonus, benefits, existing Awards (as defined in the Corporation’s Amended and Restated Equity Incentive Plan), title or lines of reporting, such that immediately after such change or
series of changes, the responsibilities and status of the Executive, taken as a whole, are not at least substantially equivalent to those assigned to the Executive immediately prior to such change or series of changes; (ii) the requirement that
the Executive be based anywhere other than the Corporation’s Calgary executive office on a normal and regular basis; or (iii) any reason which would be constructive dismissal by a court of competent jurisdiction. 

 

	 	(d)	“Supplemental Letter” shall mean the supplemental letter agreement made between the Corporation and the Executive dated October 4, 2012.

  
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