Document:

Form of Restricted Stock Unit Award Agreement for Employees

			
	 Form of Restricted Stock Unit Award Agreement (with
 related Dividend Equivalent Rights) for Employees (Canadian, U.S. and Other),
 other than the Named Executive Officers (2008 Award)

	  	Exhibit 10(d)

 RESTRICTED STOCK UNIT AWARD AGREEMENT 
 (with related Dividend Equivalent Rights) 
 Tim Hortons Inc. 
 Grant Year: 20     
 [Date] 
 THIS AGREEMENT, made effective as of the      day of                  ,
20     (the “Date of Grant”), is among Tim Hortons Inc., a Delaware corporation (the “Company”),
                         (the “Employer”) and
                     (the “Grantee”) (collectively, the “Parties”). 
 WHEREAS, the Company has adopted the Tim Hortons Inc. 2006 Stock Incentive Plan, as amended from time to time (the “Plan”), in order to provide
additional incentive to certain employees and directors of the Company and its Subsidiaries; and 
 WHEREAS, pursuant to Section 4.2 of
the Plan, the Committee (as defined below) has determined to grant to the Grantee on the Date of Grant an Award of Stock Units with related Dividend Equivalent Rights as provided herein to encourage the Grantee’s efforts toward the continuing
success of the Company and its Subsidiaries; and 
 WHEREAS, the Award is evidenced by this Agreement, which (together with the Plan),
describes all the terms and conditions of the Award. 
 NOW, THEREFORE, the Parties agree as follows: 
  

	1.	Award. 

  

	1.1	The Company hereby grants to the Grantee in respect of employment services provided by the Grantee to the Employer in 2008 an award (the “Award”) of
             Restricted Stock Units with an equal number of related Dividend Equivalent Rights. The Restricted Stock Units and related Dividend Equivalent Rights granted
pursuant to the Award shall be subject to the execution and return of this Agreement by the Grantee (or the Grantee’s estate, if applicable) to the Company as provided in Section 8 hereof. Subject to Section 6 hereof, each Restricted
Stock Unit represents the right to receive, at the absolute discretion of the Company, (i) one (1) Share from the Company, (ii) cash delivered to a broker to acquire one (1) share on the Grantee’s behalf, or (iii) one
(1) Share delivered by the Trustee (as defined in Section 7), in any case at the time and in the manner set forth in Section 7 hereof. 

  

	1.2	 Each Dividend Equivalent Right represents the right to receive the equivalent of all of the cash dividends that would be payable with respect to the Share
represented by the Restricted Stock Unit to which the Dividend Equivalent Right relates. With respect to each Dividend Equivalent Right, any amount related to cash dividends shall be converted into additional Restricted Stock 

	 	 
Units based on the Fair Market Value of a Share on the date such dividend is made. Any additional Restricted Stock Units granted pursuant to this Section
shall be subject to the same terms and conditions applicable to the Restricted Stock Unit to which the Dividend Equivalent Right relates, including, without limitation, the restrictions on transfer, forfeiture, vesting and payment provisions
contained in Sections 2 through 8, inclusive, of this Agreement. In the event that a Restricted Stock Unit is forfeited pursuant to Section 6 hereof, the related Dividend Equivalent Right shall also be forfeited. Fractional Restricted Stock
Units may be generated upon the automatic settlement of Dividend Equivalent Rights into additional Restricted Stock Units and upon the vesting of a portion of a Restricted Stock Unit award (see Section 3). These fractional Restricted Stock
Units continue to accrue additional Dividend Equivalent Rights and accumulate until the fractional interest is of sufficient value to acquire an additional Restricted Stock Unit as a result of the settlement of future Dividend Equivalent Rights,
subject to adjustment upon the vesting of a portion of the underlying Restricted Stock Unit award (see Section 3). The Human Resource and Compensation Committee (“Committee”) shall determine appropriate administration for the tracking
and settlement of Dividend Equivalent Rights, including with respect to fractional interests, and the Committee’s determination in this regard shall be final and binding upon all Parties. 

  

	1.3	This Agreement shall be construed in accordance and consistent with, and is subject to, the provisions of the Plan (the provisions of which are hereby incorporated by reference), as
well as any and all determinations, policies, instructions, interpretations, rules, etc. of the Committee in connection with the Plan. Except as otherwise expressly set forth herein, the capitalized terms used in this Agreement shall have the same
definitions as set forth in the Plan. 

  

	2.	Restrictions on Transfer. 

 The Restricted Stock
Units and Dividend Equivalent Rights granted pursuant to this Agreement may not be sold, transferred or otherwise disposed of and may not be pledged or otherwise hypothecated. 
  

	3.	Vesting. 

 Except as otherwise provided in this
Agreement, one-third (1/3) of the number of Restricted Stock Units granted hereunder shall vest on each of                     ,
20     ,                         , 20     and
                    , 20    . Fractional Restricted Stock Units may be generated and/or adjusted upon the vesting
of one-third of the Restricted Stock Units awarded under this Agreement. See Section 7 regarding settlement of fractional Restricted Stock Units. 
  

	4.	Effect of Certain Terminations of Employment. 

  

	4.1	Death or Disability. If Grantee’s employment terminates as a result of Grantee’s death or becoming Disabled, or if the Grantee is terminated without Cause in
connection with the sale or disposition of a Subsidiary, in each case if such termination occurs on or after the Date of Grant, all Restricted Stock Units which have not become vested in accordance with Section 3 or 5 hereof shall vest as of
the date of such termination. 

  

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	4.2	Retirement. If Grantee’s employment terminates as a result of the Grantee’s Retirement, and if such termination occurs on or after the Date of Grant, any unvested
Restricted Stock Units will remain outstanding and will continue to vest in accordance with the vesting schedule described in Section 3 of this Agreement. 

  

	4.3	Definitions. As used in this Agreement, (a) “Retirement” shall mean termination of employment after attaining age 60 with at least 10 years of service
(as defined in the Company’s qualified retirement plans) other than by death, Disability or for Cause and (b) the word “terminate” or “termination” in connection with the Grantee’s employment shall
mean the Grantee’s “separation from service,” within the meaning of Section 409A of the Code and Treasury Regulation Section 1.409A-1(h). 

  

	4.4	Trading Policies and Transfer of Shares. For a period of six (6) months following a termination of employment, whether under Section 4, 5, or 6 of this Agreement,
Grantee shall continue to be subject to the Company’s insider trading and window trading policies and must follow all pre-clearance procedures, and all other requirements, included in those policies. In the case of Retirement, a termination due
to Disability, or death, Grantee or Grantee’s estate or legal representative, as the case may be, shall take all reasonable steps to transfer all Shares received under this Agreement (and all other Shares that have vested and are maintained in
the Plan Administrator’s system in a brokerage account for the benefit of Grantee) from the Company’s Plan Administration system within five (5) years following the Grantee’s termination of employment. For terminations arising
for any reason other than death, Disability, or Retirement, Grantee shall transfer all Shares received under this Agreement (and all other Shares that have vested and are maintained in the Plan Administrator’s system in a brokerage account for
the benefit of Grantee) from the Company’s Plan Administration system within one year following the Grantee’s termination of employment. 

  

	5.	Effect of Change in Control. 

 In the event of a
Change in Control, which also constitutes a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of its assets, in each case within the meaning of Section 409A of the Code and Treasury
Regulation Section 1.409A-3(i)(5), at any time on or after the Date of Grant, all Restricted Stock Units which have not become vested in accordance with Section 3 or 4 hereof shall vest immediately. 
  

	6.	Forfeiture of Award. 

 Except as otherwise provided
in this Agreement, any and all Restricted Stock Units which have not become vested in accordance with Section 3, 4 or 5 hereof shall be forfeited upon: 
  

	 	(a)	the termination of the Grantee’s employment with the Company or any Subsidiary for any reason other than those set forth in Section 4 hereof prior to such vesting; or

  

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	 	(b)	the commission by the Grantee of an Act of Misconduct prior to such vesting. 

 For purposes of this Agreement, an “Act of Misconduct” shall mean the occurrence of one or more of the following events: (x) the Grantee uses for profit or discloses to unauthorized persons,
confidential information or trade secrets of the Company or any of its Subsidiaries, (y) the Grantee breaches any contract with or violates any fiduciary obligation to the Company or any of its Subsidiaries, or (z) the Grantee engages in
unlawful trading in the securities of the Company or any of its Subsidiaries or of another company based on information gained as a result of the Grantee’s employment with, or status as a director to, the Company or any of its Subsidiaries.

  

	7.	Satisfaction of Award. 

 In order to satisfy
Restricted Stock Units after vesting pursuant to this Agreement, the Company shall, at its election either (i) issue treasury Shares to the Grantee (or, if applicable, the Grantee’s estate); (ii) deliver cash to a broker designated by
the Company who, as agent for the Grantee, shall purchase the appropriate number of Shares on the open market; (iii) contribute cash to a trust fund (the “Trust”) to be used by the trustee thereof (the “Trustee”) to purchase
Shares for the purpose of satisfying the Grantee’s entitlements under this Agreement, which Shares shall be held by the Trustee, and the Trustee, upon direction, shall deliver such Shares to the Grantee; or, (iv) any combination of the
above. 
 The aggregate number of Shares issued by the Company, purchased by a broker for the Grantee or delivered by the Trustee to a
Grantee at any particular time pursuant to this Section 7 shall correspond to the number of Restricted Stock Units that become vested on the vesting date, with one (1) Restricted Stock Unit corresponding to one (1) common Share,
subject to any withholding as may be required under Section 10 of this Agreement, notwithstanding any delay between a vesting date and the settlement date. Fractional Shares may be issued or delivered upon settlement of vested Restricted Stock
Units. All parties understand, acknowledge and agree that fractional Shares cannot be traded in the public markets, and therefore, any fractional Share issued or delivered to Grantee upon settlement of a vested Restricted Stock Unit, after taking
into account the reduction to the number of Shares as required under Section 10 of this Agreement, if applicable, will ultimately be settled in cash when the Grantee sells Shares through the Plan Administrator or transfers Shares out of the
Plan Administrator’s system. The Committee shall determine appropriate administration for the settling of vested Restricted Stock Units, including with respect to fractional interests, and the Committee’s determination in this regard shall
be final and binding upon all Parties. As used herein, “Plan Administrator” shall mean the party engaged by the Company to administratively track awards and accompanying Dividend Equivalent Rights granted under the Plan, as well as handle
the process of vesting and settlement of such awards. 
 The Company will satisfy its obligations in this Section 7 on each vesting date
or as soon as administratively practicable but no later than the later of (a) December 31 of the year in which such vesting date occurs, or (b) sixty (60) days after such vesting date. Notwithstanding the foregoing, with respect
to Restricted Stock Units that become vested pursuant to Section 4 as a result of the Grantee’s Retirement or upon becoming Disabled, if the Grantee is a “specified employee” within the meaning of Section 409A of the Code as
of such vesting date, the Company shall satisfy its obligations in this Section 7 by the later of (i) the date otherwise required by this Section 7 and (ii) the first business day of the calendar month following the date which is
six (6) months after the Grantee’s employment terminates. 
  

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 Any of the Company’s obligations in this Section 7 may be satisfied by the Company or the
Employer. 
  

	8.	Execution of the Award. 

 The grant of the
Restricted Stock Units and Dividend Equivalent Rights to the Grantee pursuant to the Award shall be conditional upon the Grantee’s execution and return of this Agreement to the Company or its designee (including by electronic means, if so
provided) no later than                     , 20     (the “Grantee Return Date”); provided that if
the Grantee’s Restricted Stock Units that would otherwise vest pursuant to Section 4 or 5 before the Grantee Return Date, this requirement shall be deemed to have been satisfied immediately before such vesting. 
  

	9.	No Right to Continued Employment. 

 Nothing in this
Agreement or the Plan shall interfere with or limit in any way the right of the Company or its Subsidiaries to terminate the Grantee’s employment, nor confer upon the Grantee any right to continuance of employment by the Company or any of its
Subsidiaries or continuance of service as a Board member. 
  

	10.	Withholding of Taxes. 

 Upon (i) the delivery
to the Grantee (or the Grantee’s estate, if applicable) of treasury Shares, (ii) the delivery of cash to a broker to purchase and deliver Shares, or (iii) the delivery by the Trustee of Shares pursuant to the Trust Agreement, in each
case pursuant to Sections 1 and 7 hereof, the Company, the Employer or the Trust, as the case may be, shall be entitled to withhold from such Shares or cash, as the case may be, an amount of Shares or cash having an aggregate equivalent value equal
to the applicable income taxes and other amounts as may be required by law or, if it so determines, relevant governmental administrative practice, to be withheld by the Company, the Employer or the Trust, as the case may be, with respect to the
delivery of such Shares or cash and shall be entitled to make other appropriate arrangements in connection with the required withholding obligations. Fractional Shares may be issued or delivered and/or adjusted upon the withholding of taxes in
accordance with this Section 10, and the settlement of the Restricted Stock Units into Shares will be adjusted by the amount of the withholding, including by the fractional Shares generated and/or adjusted upon the withholding transaction. Any
fractional Shares will ultimately be paid or settled in cash in accordance with Section 7 of this Agreement. Additional fractional Shares may continue to accrue and be added to existing fractional Shares upon future vesting and settlement of
Restricted Stock Units (in accordance with the terms of this Agreement) if vested Shares remain in the Plan Administrator’s system. 
  

	11.	Grantee Bound by the Plan. 

 The Grantee hereby
acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. 
  

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	12.	Modification of Agreement. 

 This Agreement may be
modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the Parties hereto. 
  

	13.	Severability. 

 Should any provision of this
Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for any reason, the remaining provisions of this Agreement shall not be affected by such holding and shall continue in full force in accordance with their terms.

  

	14.	Governing Law. 

 The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of the State of Delaware without giving effect to the conflicts of laws principles thereof. 
  

	15.	Successors in Interest and Assigns. 

 The Company
and the Employer may assign any of their respective rights and obligations under this Agreement without the consent of the Grantee. This Agreement shall inure to the benefit of and be binding upon any successors and assigns of the Company and the
Employer. This Agreement shall inure to the benefit of the Grantee’s legal representatives. All obligations imposed upon the Grantee and all rights granted to the Company and the Employer under this Agreement shall be binding upon the
Grantee’s heirs, executors, administrators and successors. 
  

	16.	Language 

 The Parties hereto acknowledge
that they have requested that this Agreement and all documents ancillary thereto, including all the documentation provided to the Grantee in respect of the Award, be drafted in the English language only. Les Parties aux présentes
reconnaissent qu’elles ont exigé que la présente convention et tous les documents y afférents, y compris toute la documentation transmise au bénéficiaire relativement à l’octroi des droits
prévu aux présentes,soient rédigés en langue anglaise seulement. 
  

	17.	Resolution of Disputes. 

 Any dispute or
disagreement which may arise under, or as a result of, or in any way relate to, the interpretation, construction or application of this Agreement shall be determined by the Committee. Any determination made hereunder shall be final, binding and
conclusive on the Grantee, the Grantee’s heirs, executors, administrators and successors, and the Company and its Subsidiaries for all purposes. 
  

	18.	Entire Agreement. 

 This Agreement and the terms and
conditions of the Plan constitute the entire understanding between the Grantee and the Company and its Subsidiaries, and supersede all other agreements, whether written or oral, with respect to the Award. 
  

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	19.	Headings. 

 The headings of this Agreement are
inserted for convenience only and do not constitute a part of this Agreement. 
  

	20.	Counterparts. 

 This Agreement may be executed
simultaneously in two or more counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and the same agreement. 
  

	21.	Compliance with Section 409A. 

 This Agreement
is intended to satisfy the requirements of Section 409A of the Code and is intended not to be a “salary deferral arrangement” (a “SDA”) within the meaning of the Income Tax Act (Canada) (“Canadian Tax
Act”), and shall be interpreted and administered consistent with such intent. To the extent that the interpretation and administration of this Agreement in accordance with Section 409A of the Code would cause any of the arrangements
contemplated herein to be a SDA, then for any Grantee who is subject to the Canadian Tax Act and not subject to Section 409A of the Code, the Agreement shall be interpreted and administered with respect to such Grantee so that the
arrangements are not SDAs. For Grantees subject to both Section 409A of the Code and the Canadian Tax Act, the terms of this Award shall be interpreted, construed, and given effect to achieve compliance with both Section 409A of the Code
and the Canadian Tax Act, to the extent practicable. If compliance with both Section 409A of the Code and the Canadian Tax Act is not practicable in connection with the Award covered by this Agreement, the terms of this Award and this Agreement
remain subject to amendment at the sole discretion of the Committee to reach a resolution of the conflict as it shall determine in its sole discretion. 
 <EXECUTION PAGE FOLLOWS> 
  

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	TIM HORTONS INC.
		
	by	 	  

	Name:	 	
	Title:	 	
	
	[EMPLOYER]
		
	by	 	  

	Name:	 	
	Title:	 	
	
	GRANTEE
		
	by	 	  

		 	[Name]

  

 - 8 -Form of Nonqualified Stock Option Award Agreement

			
	 Form of Nonqualified Stock Option Award Agreement
 (with related Stock Appreciation Rights) for Named
 Executive Officers (2008 Award)
	  	Exhibit 10(e)

 TIM HORTONS INC. 
 2006 STOCK INCENTIVE PLAN 
 NONQUALIFIED STOCK OPTION AWARD AGREEMENT 

 (with related Stock Appreciation Right) 
 Grant Year: 20     
 THIS AGREEMENT, made effective as of the
     day of                 , 20     (the “Date of Grant”), is among Tim Hortons Inc., a
Delaware corporation (the “Company”),                     , a
                     (the “Employer”) and
                     (the “Grantee”) (collectively, the “Parties”). 
 WHEREAS, the Company has adopted the Tim Hortons Inc. 2006 Stock Incentive Plan, as amended from time to time (the “Plan”), in order to
provide additional incentive to certain employees and directors of the Company and its Subsidiaries; 
 WHEREAS, pursuant to Sections 6 and 7
of the Plan, the Committee has determined to grant to the Grantee on the Date of Grant an Option and a related Stock Appreciation Right (a “SAR”), each as provided herein, to encourage the Grantee’s efforts toward the continuing
success of the Company and its Subsidiaries; 
 WHEREAS, a SAR means a right to surrender to the Company, in whole or in part, the
unexercised Option to purchase Shares and to receive from the Company a cash amount equal to the product of: (i) the excess of the Fair Market Value of a Share on the date of exercise of the SAR over the Option Price (as defined below);
multiplied by (ii) the number of Shares as to which the SAR is being exercised; and 
 WHEREAS, the Award is evidenced by this
Agreement, which (together with the Plan) describes all the terms and conditions of the Award. 
 NOW, THEREFORE, the Parties agree as
follows: 
 1. Grant of Award. The Company hereby grants to the Grantee, on the Date of Grant, a Nonqualified Stock Option (the
“Option”) with a related Stock Appreciation Right (the “SAR”) to purchase                      Shares (the
“Award”) at an exercise price of $             per Share (the “Option Price”), subject to the terms and conditions of this Agreement and the
Plan. The Option is not intended to be treated as an option that complies with Section 422 of the Code. 
 2. Vesting; Term of
Award. Except as otherwise provided in this Agreement, the Award shall vest as follows: 
 (a) One-third (1/3) of the total Shares
covered by the Award shall vest on                     , 20    , subject to rounding down the Award to the nearest
whole Share as of the vesting date; 

 (b) One-third (1/3) of the total Shares covered by the Award shall vest on
                    , 20    , subject to rounding down the Award to the nearest whole Share as of the vesting date;
and 
 (c) One-third (1/3) of the total Shares covered by the Award shall vest on
                    , 20    , subject to rounding down the Award to the nearest whole Share as of the vesting date.

 The Award shall expire seven (7) years after the Date of Grant (the “Expiration Date”), whether or not the Award (or any portion
thereof) has been exercised, unless sooner terminated as provided in Section 4 of this Agreement. Notwithstanding anything to the contrary contained in this Agreement, if the Award expires outside of a Trading Window, then the expiration of the
term of the Award shall be the later of (i) the date the Award would have expired by its original terms (including the terms set forth in Section 4 of this Agreement) or (ii) the end of the tenth trading day of the immediately
succeeding Trading Window during which the Company would allow the Grantee to trade in its securities; provided, however, that in no event shall the Award expire beyond the tenth anniversary of the Date of Grant. 
 3. Exercise of Award. Subject to the limitations set forth in this Agreement and in the Plan, the vested portion of the Award may be exercised in
whole or in part by providing to the Company or its designee at its principal office written notice of exercise; provided that the Award may be exercised with respect to whole Shares only. Such notice shall specify (i) whether the Grantee
intends to exercise the Option or the SAR and (ii) the number of Shares with respect to which the Award is to be exercised. 
 (a)
Exercise of SAR. If the Grantee desires to receive cash, as opposed to Shares, upon exercise of all or a portion of the vested amount of the Award, the Grantee will exercise the SAR. Upon the exercise of the SAR, the Grantee shall be entitled
to receive a cash amount from the Company equal to the product of: (i) the excess of the Fair Market Value of a Share on the date of exercise of the SAR over the Option Price; multiplied by (ii) the number of Shares as to which the SAR is
being exercised. 
 (b) Exercise of Option. If the Grantee desires to receive Shares, as opposed to cash, upon exercise of all or a
portion of the vested amount of the Award, the Grantee will exercise the Option. If the Option is exercised, payment of the Option Price for the number of Shares specified in the notice of exercise shall accompany the written notice of exercise. The
payment of the Option Price may be made, as determined by the Committee in its sole discretion as of the time of exercise, as follows: (i) in cash, certified check or bank draft; (ii) by transferring Shares having a Fair Market Value equal
to the aggregate Option Price for the Shares being purchased and satisfying such other requirements as may be imposed by the Committee, provided that such Shares have been held by the Grantee for at least six months (or such other period as
established from time to time by the Committee); (iii) partly in cash and partly in Shares; (iv) by surrender of Shares that the Grantee would have otherwise been entitled to receive upon payment of the Option Price and exercise of the
Option, equivalent in value to the aggregate Option Price for the number of Shares specified in the 

  

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notice of exercise; or (v) through a cashless exercise, including through a registered broker-dealer. The Committee shall determine the means and manner
by which Shares to be delivered upon exercise of the Option shall be settled and/or satisfied, in its sole and absolute discretion. 
 (c)
Tandem Nature of Award. Upon the exercise of the SAR, the Option shall be canceled (i.e., surrendered to the Company) to the extent of the number of Shares as to which the SAR is exercised. Upon the exercise of the Option, the SAR
shall be canceled to the extent of the number of Shares as to which the Option is exercised or surrendered. 
 4. Termination of
Employment. 
 (a) Death or Disability. Upon termination of the Grantee’s employment with the Company and its Subsidiaries as
a result of the Grantee’s death or the Grantee becoming Disabled, the Award shall become immediately exercisable as of the date of such termination of employment, and the Grantee (or, to the extent applicable, the Grantee’s legal guardian,
legal representative or estate) shall have the right to exercise the Award for a period of four (4) years after the date of such termination or, if earlier, until the Expiration Date. 
 (b) Retirement. Upon termination of the Grantee’s employment with the Company and its Subsidiaries by reason of the Grantee’s Retirement
(as defined below), for a period of four (4) years following the date of such Retirement (but in no event beyond the Expiration Date), the Award shall remain outstanding and (i) to the extent not then fully vested, shall continue to vest
in accordance with the vesting schedule set forth in Section 2 of this Agreement, and (ii) the Grantee shall have the right to exercise the vested portion of the Award. For purposes of this Agreement, “Retirement” shall
mean termination of employment after attaining age sixty (60) with at least ten (10) years of service (as defined in the Company’s qualified retirement plans) other than by death, Disability or for Cause. 
 (c) Termination in Connection with Certain Dispositions. In the event the Grantee’s employment with the Company and its Subsidiaries is
terminated without Cause in connection with a sale or other disposition of a Subsidiary, the Award shall remain outstanding and (i) to the extent not then fully vested, will continue to vest in accordance with the vesting schedule set forth in
Section 2 of this Agreement, and (ii) the Grantee will have the right to exercise the vested portion of the Award for a period of one (1) year following the date of such termination or, if earlier, until the Expiration Date.

 (d) Termination for Cause. Upon the termination of the Grantee’s employment with the Company and its Subsidiaries for Cause,
the portion of the Award that has not been exercised shall be forfeited (whether or not then vested and exercisable) on the date of such termination. 
 (e) Termination for Any Other Reason. Upon the termination of the Grantee’s employment with the Company and its Subsidiaries for any reason not described in Section 4(a), 4(b), 4(c), or 4(d) of this
Agreement, the Award shall (i) to the extent not vested and exercisable as of the date of such termination of employment, terminate on the date of such termination of employment, 

  

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and (ii) to the extent vested and exercisable as of the date of such termination of employment, remain exercisable for a period of ninety (90) days
following the date of such termination of employment or, in the event of the Grantee’s death during such ninety (90) day period, remain exercisable by the Grantee’s estate until the end of one (1) year period following the date
of such termination of employment; provided, however, that, in either case, the Award shall not remain exercisable beyond the Expiration Date. 
 5. Effect of Change in Control. In the event of a Change in Control, the Award shall become immediately and fully exercisable. 
 6. Execution of Agreement. The grant of the Award to the Grantee shall be conditional upon the Grantee’s execution and return of this Agreement to the Company or its designee (including by electronic means, if so provided) no
later than                     , 20     (the “Grantee Return Date”); provided that if the
Award would otherwise vest pursuant to Section 4 of this Agreement before the Grantee Return Date, this requirement shall be deemed to have been satisfied immediately before such vesting. 
 7. Non-Transferability of Award. Except to the extent that, pursuant to this Agreement or the Plan, the Grantee’s legal representative or
estate is permitted to exercise the Award, the Award is exercisable during the Grantee’s lifetime only by the Grantee. The Award shall not be transferable except by will or the laws of descent and distribution. 
 8. No Right to Continued Employment. Nothing in this Agreement or the Plan shall interfere with or limit in any way the right of the Company or
its Subsidiaries to terminate the Grantee’s employment, nor confer upon the Grantee any right to continuance of employment by the Company or any of its Subsidiaries or continuance of service to the Company or any of its Subsidiaries.

 9. Withholding of Taxes. Upon the exercise of the Award, the Company, the Employer, or a trust established by the Company or the
Employer to deliver Shares under an Award (“Trust”), as applicable, shall require payment of or other provision for, as determined by the Company, an amount equal to the federal, state, provincial and local income taxes and other amounts
required by law to be withheld or determined to be necessary or appropriate to be withheld by the Company, Employer or Trust, as applicable, in connection with such exercise. In its sole discretion, the Company, Employer or Trust, as applicable, may
require or permit payment of or provision for such withholding taxes through one or more of the following methods: (a) in cash, certified check or bank draft; (b) by withholding such amount from other amounts due to the Grantee;
(c) by withholding a portion of the Shares then issuable or deliverable to the Grantee having an aggregate Fair Market Value equal to such withholding taxes and, at the Company’s election, either (I) canceling the equivalent portion
of the underlying Award or the Shares to be delivered and the Company, Employer, or Trust paying the withholding taxes on behalf of the Grantee in cash, or (II) selling such Shares on the Grantee’s behalf; (d) by withholding such amount
from the cash then issuable in connection with the Award; or (e) by the Grantee transferring Shares having a Fair Market Value equal to such withholding taxes to the Company, Employer or Trust, as applicable, provided that such Shares have been
held by the Grantee for at least six months (or such other period as established from time to time by the Committee). 
  

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 10. Grantee Bound by Plan; Award Subject to Terms of Plan. The Grantee hereby acknowledges receipt
of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. This Agreement shall be construed in accordance and consistent with, and is subject to, the provisions of the Plan (the provisions of which are hereby incorporated
by reference), as well as any and all determinations, policies, instructions, interpretations and rules of the Committee in connection with the Plan. Except as otherwise expressly set forth herein, the capitalized terms used in this Agreement shall
have the same definitions as set forth in the Plan. 
 11. Modification of Agreement. The Board or Committee may make amendments or
changes to this Award, subject to the terms and conditions of Section 22 of the Plan. 
 12. Severability. Should any provision
of this Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for any reason, the remaining provisions of this Agreement shall not be affected by such holding and shall continue in full force in accordance with their
terms. 
 13. Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the
laws of the State of Delaware without giving effect to the conflicts of laws principles thereof. 
 14. Successors in Interest and
Assigns. The Company and the Employer may assign any of their respective rights and obligations under this Agreement without the consent of the Grantee. This Agreement shall inure to the benefit of and be binding upon any successors and assigns
of the Company and the Employer. This Agreement shall inure to the benefit of the Grantee’s legal representatives. All obligations imposed upon the Grantee and all rights granted to the Company and the Employer under this Agreement shall be
binding upon the Grantee’s heirs, executors, administrators and successors. 
 15. Resolution of Disputes. Any dispute or
disagreement which may arise under, or as a result of, or in any way relate to, the interpretation, construction or application of this Agreement shall be determined by the Committee. Any determination made hereunder shall be final, binding and
conclusive on the Grantee, the Grantee’s heirs, executors, administrators and successors, and the Company and its Subsidiaries for all purposes. 
 16. Entire Agreement. This Agreement and the terms and conditions of the Plan constitute the entire understanding between the Grantee and the Company and its Subsidiaries, and supersede all other agreements,
whether written or oral, with respect to the Award. 
 17. Headings. The headings of this Agreement are inserted for convenience only
and do not constitute a part of this Agreement. 
  

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 18. Counterparts. This Agreement may be executed simultaneously in two or more counterparts, each
of which shall constitute an original, but all of which taken together shall constitute one and the same agreement. 
 19. Language.
The Parties hereto acknowledge that they have requested that this Agreement and all documents ancillary thereto, including all the documentation provided to the Grantee in respect of the Award, be drafted in the English language only. Les Parties
aux présentes reconnaissent qu’elles ont exigé que la présente convention et tous les documents y afférents, y compris toute la documentation transmise au bénéficiaire relativement à
l’octroi des droits prévu aux présentes,soient rédigés en langue anglaise seulement. 
 <EXECUTION
PAGE FOLLOWS> 
  

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	TIM HORTONS INC. (“Company”)
		
	By:	 	  

	Name:	 	  

	Title:	 	  

					
		
	  
	 	(“Employer”)

					
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	GRANTEE
	
	  

	[Name]	 		 	

  

 - 7 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}]]