Document:

EX-10.9

 IMAX CORPORATION 

EXHIBIT 10.9 

SERVICES AGREEMENT 
 SERVICES
AGREEMENT dated and effective as of December 11, 2008 (the “Agreement”) between IMAX CORPORATION (“IMAX,” the “Company”) and BRADLEY J. WECHSLER (the “Chairman”). 

WHEREAS, Chairman, the Company and IMAX’s Board of Directors (the “Board”) have all agreed to the termination of Chairman’s
employment as Co-Chief Executive Officer of the Company and of his July 1, 1998 employment agreement, as amended (the “Employment Agreement”), effective as of April 1, 2009 (the “Effective Date”); 

WHEREAS, the Board has approved terms under which Chairman shall serve as Chairman of the Board of the Company for the Term (as defined below) effective as of
the Effective Date; and 
 WHEREAS, the Company wishes to enter into this Agreement to engage Chairman to provide services to the Company and Chairman
wishes to be so engaged, pursuant to the terms and conditions hereinafter set forth; 
 NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and agreements herein contained, the parties hereto agree as follows: 
  

	1.	Term. The term of the Agreement shall begin on the Effective Date and run through the earlier of (i) such date that Chairman is not re-elected to the Board, and (ii) April 1, 2011 (the
“Term”); provided, however, that the Board agrees to use its best efforts to cause Chairman to be re-elected to the Board in 2010 unless Chairman has engaged in activity that would have constituted dismissal for Cause
as that term is defined in the Employment Agreement. 

  

	2.	Services. Chairman shall serve as Chairman of the Board of the Company throughout the Term. In such capacity, Chairman shall serve as the primary liaison on the Board’s behalf with management, and be
responsible for the following items, including but not limited to: (a) leading the Board and working with the senior corporate team to create transparency for the Board, particularly with regard to key operational and financial metrics,
strategies and controls; (b) providing input to the CEO in determining company-wide strategic objectives to be presented and discussed with the full Board; and (c) receiving regularly scheduled updates from the CEO, COO and CFO as needed.
Certain of Chairman’s specific responsibilities are outlined in Schedule “A” attached hereto. It is the intention of the parties that the services (the “Services”) provided to the Company under this Agreement
shall initially require no more than between 20% - 40% of the full working time of Chairman. Subsequently during the Term, if it becomes clear that less than 20% of the full working time of Chairman is required for the Services, the parties agree to
negotiate in good faith to revise the Fee (as defined below). 

  

	3.	 Compensation and Benefits. During the Term, Chairman shall receive a cash stipend of $200,000 for each year served as Chairman of the Board,
payable in equal parts fifteen (15) days after the end of each calendar quarter (the “Fee”). The Company shall also reimburse Chairman for all reasonable out-of-pocket expenses in the performance of his obligations under this
Agreement for which documentation reasonably satisfactory to IMAX is provided, including 

	 	
expenses relating to Chairman’s travel and performance of duties outside of his office in New York. The Company shall additionally provide Chairman with reimbursement of all reasonable
automobile expenses, office space in the Company’s New York office and an assistant throughout the Term. 

  

	4.	Retirement Benefits. Chairman shall receive retirement benefits, including health benefits, as provided under that July 2000 Supplemental Executive Retirement Plan, as amended (the “SERP”) and/or the
corresponding July 2000 employment agreement between Chairman and the Company. It is the intention of the parties that the termination of Chairman’s employment as co-Chief Executive Officer, and of the Employment Agreement, shall constitute a
“Separation of Service” as defined in Section 4.09A(a)(2)(B) of the Internal Revenue Code of 1986, as amended. 

  

	5.	Existing Stock Options and Other Awards. Throughout the Term, all stock options and stock appreciation rights (SARs) granted to Chairman during his employment with IMAX shall continue to vest in accordance with
their original vesting schedules and all such stock options and SARs shall remain exercisable for the entirety of their original terms. All of the other material terms of such stock options and SARs shall remain subject to the provisions of the
Employment Agreement and IMAX’s Stock Option Plan (the “SOP”); provided, however, that where there is a conflict between the Employment Agreement and the SOP, the terms of the Employment Agreement shall preside.
In addition, the Special Bonus (as defined in Section 1(g) of the employment agreement between Chairman and the Company dated March 1, 1994 shall survive the termination of the Employment Agreement. 

 

	6.	General. The entering into this agreement shall not prejudice any rights or waive any obligations under any provision of the Employment Agreement intended to survive its expiration. 

DATED as of December 11, 2008. 
  

			
	AGREED AND ACCEPTED:
		
			 /s/ Bradley J. Wechsler

			Bradley J. Wechsler
	
	IMAX CORPORATION
		
	Per:		 /s/ Garth M. Girvan

	Name:		Garth M. Girvan
	Title:		Director

 Schedule “A” 

Board 
  

	 	•	 	Serve as the primary liaison on the Board’s behalf with management 

  

	 	•	 	Work with the CEO to set Board agendas 

  

	 	•	 	Facilitate discussion and manage process of getting approval of material variations from the Board-approved budget 

  

	 	•	 	Design the form and substance of Board reports, setting out key operational and financial metrics (quarterly and monthly) 

Strategy 
  

	 	•	 	Provide input to the CEO in determining company-wide strategic objectives, to be presented and discussed with the full Board 

  

	 	•	 	Assist IMAX in developing capital market strategies 

  

	 	•	 	Bring expertise to bear in key strategic initiatives; provide feedback on significant corporate transactions which might have strategic implications 

 

	 	•	 	Maintain strategic third-party relationships on behalf of the Company 

  

	 	•	 	Serve an “Ambassadorial” role on behalf of the Company at conferences, trade shows and openings 

  

	 	•	 	Represent the Board at one or more management retreats per year 

 Finance 

 

	 	•	 	Advise the CEO in determining major allocations of capital 

  

	 	•	 	Receive regularly scheduled updates from CEO, COO, and CFO as needed 

  

	 	•	 	Receive updates on SEC/ OSC/ litigation matters from Company and from outside counsel; review and comment on briefs and SEC submissions 

 

	 	•	 	Review quarterly reforecasts with COO and CFO 

  

	 	•	 	Participate in quarterly Research & Development meetingEX-10.17

 IMAX CORPORATION 

EXHIBIT 10.17 

AMENDED EMPLOYMENT AGREEMENT 

This agreement amends the amended employment agreement (the “Agreement”) between Richard L. Gelfond (the “Executive”) and
IMAX Corporation (the “Company”) dated July 1, 1998, as amended, on the same terms and conditions except as set out below: 
  

	1.	Employment. Effective April 1, 2009, the Executive shall assume the role of the Company’s sole Chief Executive Officer through the remainder of the Term. 

 

	2.	Term. The term of the Agreement is extended until December 31, 2010 (the “Term”). 

  

	3.	Cash Compensation. The Executive shall continue to be paid a base salary at the rate of $500,000 per year for 2009. Effective January 1, 2010, the Executive shall be paid a base salary at the rate of
$600,000 per year. Executive’s bonus shall continue to be up to two times salary. Such bonus shall be at the discretion of the Board of Directors and shall be based upon the success of the Company in achieving the goals and objectives set by
the Board after consultation with the Executive. If the Executive’s employment is terminated without Cause prior to the end of the Term, the Executive shall be entitled to no less than a pro-rata portion of his median bonus target (i.e. one
times salary). For purposes of clarity, if Executive’s employment is terminated for any reason during the Term and Executive becomes eligible to receive retirement benefits as provided under that July 2000 Supplemental Executive Retirement
Plan, as amended, Executive shall no longer be entitled to receive any cash compensation hereunder. 

  

	4.	Incentive Compensation. The Executive shall be granted as soon as practicable, in accordance with the terms of the IMAX Stock Option Plan (the “Plan”), stock options to purchase 500,000 common shares of
the Company (the “Options”) at an exercise price per Common Share equal to the Fair Market Value, as defined in the Plan. The Options shall have a 10-year term and vest as follows: 

 

							
	  	  	 Number of Options
	  	 Vesting Date
	  	  
		  	100,000	  	April 1, 2009	  	
		  	100,000	  	October 1, 2009	  	
		  	100,000	  	January 1, 2010	  	
		  	100,000	  	May 1, 2010	  	
		  	100,000	  	September 1, 2010	  	

 The vesting of the Options shall be accelerated upon a “change of control” as defined
in the Agreement, and shall be governed, to the extent applicable, by the provisions in the Agreement regarding change of control. 
  

	5.	The entering into this agreement shall not prejudice any rights or waive any obligations under any other agreement between the Executive and the Company. 

DATED as of December 11, 2008. 
  

			
	AGREED AND ACCEPTED:
		
			 /s/ Richard L. Gelfond

			Richard L. Gelfond
		
			IMAX CORPORATION
		
	Per:		 /s/ Garth M. Girvan

	Name:		Garth M. Girvan
	Title:		DirectorEX-10.35

 IMAX CORPORATION 

EXHIBIT 10.35 

AMENDMENT NO. 1 TO 

SECURITIES PURCHASE AGREEMENT 

AMENDMENT NO. 1, dated as of December 31, 2008, to the Securities Purchase Agreement (the “Agreement”), dated as
of May 5, 2008, by and between IMAX Corporation, a corporation incorporated under the federal laws of Canada (the “Company”) and each of the entities appearing on the signature pages hereof and thereof (each, an
“Investor” and collectively, the “Investors”). All capitalized terms used and note otherwise defined herein shall have the meanings ascribed thereto in the Agreement. 

WHEREAS, the parties entered into the Agreement providing for the sale and purchase of the Securities, all upon the terms and subject to the
conditions set forth therein; and 
 WHEREAS, the parties wish to amend certain terms and conditions of the Agreement; 

NOW, THEREFORE, in consideration of the promises and mutual agreements and covenants hereinafter set forth, and intending to be legally bound,
the Company and the Investors hereby agree as follows: 
  

	1.	Section 1.2 is hereby amended to add the following defined term in the appropriate alphabetical position: 

““Registration Demand” has the meaning specified in Section 4.2(a) of this
Agreement.”” 
  

	2.	Section 4.2(a) is hereby amended and restated in its entirety: 

 “upon receipt of a
written demand from all of the Investors (the “Registration Demand”), and subject to receipt of necessary information from the Investors, prepare and file with the Commission within 10 days after receipt of the Registration
Demand (the “Filing Deadline”), a registration statement (the “Registration Statement”) to enable the resale of the Securities by the Investors from time to time on the Principal Market or in
privately-negotiated transactions; provided, however, that for the avoidance of doubt, the Investors may make only one Registration Demand and the Company shall only be required to file one such Registration
Statement; provided, further, that the Company may postpone the filing of the Registration Statement in accordance with Section 4.4(c) hereof;” 

 

	3.	Section 4.4(c)(i) is hereby amended and restated in its entirety: 

 “(i) that the filing of the Registration Statement or the continued use by the Investors of
the Registration Statement for purposes of effecting offers or sales of the Securities pursuant thereto would require, under the Securities Act, premature disclosure in the Registration Statement (or the prospectus relating thereto) of material,
nonpublic information concerning the Company, its business or prospects or any of its proposed material transactions, and” 
  

	4.	Except as expressly amended hereby, the terms and conditions of the Agreement shall remain full force and effect. 

  

	5.	This Amendment may be executed and delivered (including by facsimile transmission) in one or more counterparts, each of which when executed shall be deemed to be an original, but all of which taken together constitute
one and the same agreement. 

 IN WITNESS WHEREOF, the Company and the Investors have caused this Amendment to be executed as of
the date first written above. 
  

			
	IMAX CORPORATION
		
	By:		 /s/ RICHARD L. GELFOND

	Name:		Richard L. Gelfond
	Title:		Co-Chief Executive Officer

									
	K&M DOUGLAS TRUST				 JAMES DOUGLAS AND JEAN
 DOUGLAS
IRREVOCABLE
 DESCENDANTS’ TRUST

					
	By:		 /s/ KEVIN DOUGLAS
				By:		 /s/ KEVIN DOUGLAS

	Name:		Kevin Douglas				Name:		Kevin Douglas
	Title:		Trustee				Title:		Trustee
					
	By:		 /s/ MICHELLE DOUGLAS
				By:		 /s/ MICHELLE DOUGLAS

	Name:		Michelle Douglas				Name:		Michelle Douglas
	Title:		Trustee				Title:		Trustee
			
	DOUGLAS FAMILY TRUST				JAMES E. DOUGLAS III
					
	By:		 /s/ JAMES DOUGLAS
				By:		 /s/ JAMES E. DOUGLAS III

	Name:		James Douglas						
	Title:		Trustee						
					
	By:		 /s/ JEAN DOUGLAS
						
	Name:		Jean Douglas						
	Title:		Trustee

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