Document:

Executive Annual Performance Plan, as Amended and Restated

 Exhibit 10(a) 
 Executive Annual Performance Plan, As Amended and Restated on November 5, 2008 
 TIM HORTONS
INC. 
 EXECUTIVE ANNUAL PERFORMANCE PLAN 
 (as amended and restated effective November 5, 2008) 
 1. Purpose. The purpose of the
Executive Annual Performance Plan (the “Plan”) is to enhance the ability of Tim Hortons Inc. (the “Company”) and its subsidiaries to attract, motivate, reward, and retain key employees, to strengthen their commitment to the
success of the Company and to align their interests with those of the Company’s shareholders by providing additional compensation to designated key employees of the Company based on the achievement of performance objectives. To this end, the
Plan provides a means of rewarding participants based on the performance of the Company and/or its Operating Units. 
 2.
Administration. The Plan shall be administered by the Committee and the CEO as provided herein. The Committee shall have full authority to establish the rules and regulations relating to the Plan, to interpret the Plan and those rules and
regulations, to determine the Performance Objectives of the Company and/or Operating Units, to decide the facts in any case arising under the Plan and to make all other determinations and to take all other actions necessary or appropriate for the
proper administration of the Plan, including the delegation of such authority or power, where appropriate. The Committee’s administration of the Plan, including all such rules and regulations, interpretations, selections, determinations,
approvals, decisions, delegations, amendments, terminations and other actions, shall be final and binding on the Company, its stockholders and the Participants and their beneficiaries. Subject to the authority and discretion of the Committee, the
CEO shall have the full authority to determine the Participants in the Plan, the Award opportunities for such Participants, and whether such Award opportunities shall be based on the Performance Objectives of the Company or based on a combination of
Performance Objectives of the Company and one or more Operating Units. 
 3. Eligible Employees. Generally, all Employees are eligible
to participate in the Plan for any fiscal year. However, participation shall be limited to those Employees selected by the CEO, subject to the authority and discretion of the Committee, to participate in the Plan for each fiscal year in accordance
with Section 4. 
 4. Determination of Awards. For each fiscal year, the Committee shall establish the Performance Objectives of
the Company and/or Operating Units. Subject to the authority and discretion of the Committee, the CEO shall determine (i) the Employees who shall be Participants during each fiscal year, (ii) whether Awards for each Participant shall be
based solely upon the achievement of Performance Objectives of the Company or on a combination of the achievement of Performance Objectives for the Company and for one or more Operating Units, and (iii) the Award opportunities for each
Participant, including the extent to which Awards will be payable for actual performance between each level of the Performance Objectives. The CEO shall provide to the Committee, for consideration in accordance with its 

 
delegated authority from the Board, a schedule that indicates the Participants selected, their Award opportunities, and whether such Awards will be based on
the Performance Objectives of the Company or a combination of the Company and one or more Operating Units. The Company shall notify each Participant of the applicable Performance Objectives for such Participant and his or her corresponding Award
opportunities for each fiscal year. 
 5. Payment of Awards. As soon as
practicable after the determination of the Company’s and, if applicable, the Operating Units’ financial performance for a fiscal year, but no later than the 15th day of the third month following the end of such fiscal year, each Award to the extent earned shall be paid in a single lump sum cash payment, less applicable withholding taxes. Notwithstanding the foregoing, a
Participant may elect to defer all or a portion of any Award that will otherwise become payable in accordance with this Section, if permitted pursuant to (and in accordance with) a deferred compensation plan adopted by, or an agreement entered into
with, the Company or any of its subsidiaries. 
 6. Discretionary Bonuses. In
addition to any Awards payable under Section 4, the CEO, after consultation with the Committee and subject to the authority and discretion of the Committee, shall have the authority to make additional cash incentive awards to any Employees
selected by the CEO in amounts determined by the CEO. Any such award shall be paid to the applicable employee no later than the 15th day of the
third month following the end of the fiscal year in which the award is determined. 
 7. Termination of Employment. No Award for a
fiscal year shall be payable to any Participant unless he or she is employed by the Company or one of its subsidiaries on the payment date for Awards payable in respect of the fiscal year, unless the Participant’s employment was terminated
because of his or her (i) death, (ii) disability or (iii) retirement after attaining age 60 and the completion of 10 years of continuous service with the Company and/or its subsidiaries, in which event the Participant will be entitled
to a pro-rata portion (which shall be 100% if such termination occurs after the end of the fiscal year and prior to the payment date) of the Award otherwise payable in respect of that fiscal year, subject to the Committee’s discretion as set
forth in Section 2 hereof. Provided, however, that for any Participant who has reached the age of 55 and the completion of 10 years of continuous service with the Company and/or its subsidiaries as of November 5, 2008, the applicable age
in (iii) above shall be “55,” as opposed to age “60.” The foregoing proviso shall expire by its terms and be void and of no further force and effect on and as of November 5, 2013. 
 8. Change in Control. Notwithstanding any provision in the Plan to the contrary, upon the occurrence of a Change in Control of the Company, the
following provisions shall apply: 
 (i) The minimum Award payable to each Participant under Section 5 in respect of the
fiscal year in which the Change in Control occurs shall be the greatest of: 
 (A) the Award or other annual bonus paid or
payable to the Participant in respect of the fiscal year prior to the year in which the Change in Control occurs; 
  

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 (B) the Award amount that would be payable to the Participant assuming that the Company
achieved the target level of the Performance Objectives for such fiscal year; and 
 (C) the Award amount that would be
payable to the Participant based on the Company’s actual performance and achievement of applicable Performance Objectives for such fiscal year through the date of the Change in Control. 
 (ii) Notwithstanding anything to the contrary contained herein, in the event that following the date of a Change in Control and prior to
the payment date for Awards payable in respect of the fiscal year in which the Change in Control occurs a Participant’s employment is terminated by the Company and its subsidiaries without Cause or by the Participant for Good Reason, such
Participant shall be entitled to receive the Award otherwise payable pursuant to the terms of the Plan in respect of that fiscal year as if he or she had remained in the employ of the Company through the payment date for Awards payable in respect of
such fiscal year. 
 (iii) If a Participant’s employment is terminated by the Company and its subsidiaries without Cause
prior to the date of a Change in Control but the Participant reasonably demonstrates that the termination (A) was at the request of a third party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control
or (B) otherwise arose in connection with, or in anticipation of, a Change in Control which has been threatened or proposed, such termination shall be deemed to have occurred after a Change in Control for purposes of this Plan provided a Change
in Control shall actually have occurred. 
 9. Adjustments. The Committee may, at the time Performance Objectives are determined for a
fiscal year, or at any time prior to the final determination of Awards in respect of such fiscal year, provide for the manner in which performance will be measured against the Performance Objectives or may adjust the Performance Objectives to
reflect the impact of specified corporate transactions (such as a stock split or stock dividend), special charges, accounting or tax law changes and other extraordinary or nonrecurring events. 
 10. Designation of Beneficiary. In the event of a Participant’s death prior to full payment of any Award hereunder, unless such Participant
shall have designated a beneficiary or beneficiaries in accordance with this Section 10, payment of any Award due under the Plan shall be made to the beneficiary or beneficiaries designated by the Participant under the Company’s basic life
insurance program, or if no beneficiary has been designated under the basic life insurance program, the Participant’s designated beneficiary dies prior to receiving any payment of an Award or if such designation shall for any reason be illegal
or ineffective, Awards payable under the Plan shall be paid to the Participant’s estate. A beneficiary designation under this Plan, or revocation of a prior beneficiary designation, will be effective only if it is made in writing on a form
provided by the Company, signed by the Participant and received by the Benefits Department of the Company. If a beneficiary has been designated under this Plan and such beneficiary dies prior to receiving any payment of an Award or if such
designation shall for any reason be illegal or ineffective, Awards payable under the Plan shall be paid to the Participant’s estate. 
  

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 11. Amendment or Termination. The Board may amend or terminate the Plan at any time in its
discretion; provided, however, that no amendment or termination of the Plan may affect any Award made under the Plan prior to that time; and provided further, however, that the Plan may not be amended or terminated
through and including the fiscal year in which a Change in Control occurs (i) at the request of a third party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control or (ii) otherwise in connection
with, or in anticipation of, a Change in Control which has been threatened or proposed, in either case provided that a Change in Control shall actually have occurred. 
 12. Miscellaneous Provisions 
 (a) Neither the establishment of this Plan, nor any action taken
hereunder, shall be construed as giving any Employee or any Participant any right to be retained in the employ of the Company or any of its subsidiaries. 
 (b) A Participant’s rights and interests under the Plan may not be assigned or transferred, except as provided in Section 10, and any attempted assignment or transfer shall be null and void and shall
extinguish, in the Company’s sole discretion, the Company’s obligation under the Plan to pay Awards with respect to the Participant. 
 (c) The Plan shall be unfunded. The Company shall not be required to establish any special or separate fund, or to make any other segregation of assets, to assure payment of Awards. 
 (d) The Company shall have the right to deduct from Awards paid any taxes or other amounts required by law to be withheld. 
 (e) Nothing contained in the Plan shall limit or affect in any manner or degree the normal and usual powers of management, exercised by the officers and
the Board or committees thereof, to change the duties or the character of employment of any employee of the Company or any of its subsidiaries or to remove the individual from the employment of the Company or any of its subsidiaries at any time, all
of which rights and powers are expressly reserved. 
 13. Definitions. 
 (a) “Award” shall mean the cash incentive award earned by a Participant under the Plan for any fiscal year. 
 (b) “Base Salary” shall mean the Participant’s annual base salary actually paid by the Company and/or any of its subsidiaries and
received by the Participant during the applicable fiscal year. Annual base salary does not include (i) Awards under the Plan, (ii) long-term incentive awards, (iii) signing bonuses or any similar bonuses, (iv) imputed income from
such programs as executive life insurance, or (v) nonrecurring earnings such as moving expenses, and is based on salary earnings before reductions for such items as contributions under Sections 125 or 401(k) of the Code or pursuant to any
nonqualified deferred compensation plan or agreement or any retirement savings plans. 
  

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 (c) “Board” shall mean the Board of Directors of the Company. 
 (d) “Cause” shall mean the termination of a Participant’s employment by reason of the Board’s good faith determination that
the Participant (a) willfully and continually failed to substantially perform his or her duties with the Company (other than a failure resulting from the Participant’s incapacity due to physical or mental illness) after a written demand
for substantial performance is delivered to the Participant by the Board which specifically identifies the manner in which the Board believes that the Participant has not substantially performed his or her duties and such failure substantially to
perform continues for at least fourteen (14) days, or (b) has willfully engaged in conduct which demonstrably and materially injurious to the Company, monetarily or otherwise, or (c) has otherwise materially breached the terms of his
or her employment agreement with the Company, if applicable (each, an “Employment Agreement”) (including, without limitation, a voluntary termination of the Participant’s employment by the Participant during the term of such
Employment Agreement). No act, nor failure to act, on the Participant’s part, shall be considered “willful” unless he or she has acted, or failed to act, with an absence of good faith and without a reasonable belief that his or her
action or failure to act was in the best interest of the Company. Notwithstanding the foregoing, the Participant’s employment shall not be deemed to have been terminated for Cause unless and until (1) there shall have been delivered to the
Participant a copy of a written notice setting forth that the Participant was guilty of conduct set forth above in clause (a), (b) or (c) of the first sentence of this definition and specifying the particulars thereof in detail, and
(2) the Participant shall have been provided an opportunity to be heard by the Board (with the assistance of Participant’s counsel). 
 (e) “CEO” shall mean the Chief Executive Officer of the Company. 
 (f) “Change in Control” shall
mean the occurrence during the term of the Plan of: 
 (i) An acquisition (other than directly from the Company) of any common
stock or other voting securities of the Company entitled to vote generally for the election of directors (the “Voting Securities”) by any “Person” (as the term person is used for purposes of Section 13(d) or 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)), immediately after which such Person has “Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of thirty percent
(30%) or more of the then outstanding shares of the Company’s common stock or the combined voting power of the Company’s then outstanding Voting Securities; provided, however, in determining whether a Change in Control
has occurred, Voting Securities which are acquired in a “Non-Control Acquisition” (as hereinafter defined) shall not constitute an acquisition which would cause a Change in Control. A “Non-Control Acquisition” shall mean an
acquisition by (A) an employee benefit plan (or a trust forming a part thereof) maintained by (1) the Company or (2) any corporation or other Person of which a majority of its voting power or its voting equity securities or equity
interest is owned, directly or indirectly, by the Company (for purposes of this definition, a “Subsidiary”), (B) the Company or its Subsidiaries, or (C) any Person in connection with a “Non-Control Transaction” (as
hereinafter defined); 
  

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 (ii) The individuals who, as of the date the Board adopted the Plan, are members of the
Board (the “Incumbent Board”), cease for any reason to constitute at least seventy percent (70%) of the members of the Board; provided, however, that if the election, or nomination for election by the Company’s
common stockholders, of any new director was approved by a vote of at least two-thirds of the Incumbent Board, such new director shall, for purposes of this Plan, be considered as a member of the Incumbent Board; provided further,
however, that no individual shall be considered a member of the Incumbent Board if such individual initially assumed office as a result of an actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the
Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Proxy Contest; or 
 (iii) The consummation of: 
 (A) A merger, consolidation or reorganization with or into the Company or in which
securities of the Company are issued (a “Merger”), unless such Merger is a “Non-Control Transaction.” A “Non-Control Transaction” shall mean a Merger where: 
 (1) the stockholders of the Company immediately before such Merger own directly or indirectly immediately following such Merger at least
seventy percent (70%) of the combined voting power of the outstanding voting securities of the corporation resulting from such Merger (the “Surviving Corporation”) in substantially the same proportion as their ownership of the Voting
Securities immediately before such Merger; 
 (2) the individuals who were members of the Incumbent Board immediately prior
to the execution of the agreement providing for such Merger constitute at least two-thirds of the members of the board of directors of the Surviving Corporation, or a corporation beneficially directly or indirectly owning a majority of the Voting
Securities of the Surviving Corporation; and 
 (3) no Person other than (i) the Company, (ii) any Subsidiary,
(iii) any employee benefit plan (or any trust forming a part thereof) that immediately prior to such Merger was maintained by the Company or any Subsidiary, or (iv) any Person who, immediately prior to such Merger had Beneficial Ownership
of thirty percent (30%) or more of the then outstanding Voting Securities or common stock of the Company, has Beneficial Ownership of thirty percent (30%) or more of the combined voting power of the Surviving Corporation’s then
outstanding voting securities or its common stock. 
 (B) A complete liquidation or dissolution of the Company; or 

(C) The sale or other disposition of all or substantially all of the assets of the Company to any Person (other than a transfer to a
Subsidiary). 
  

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 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any Person
(the “Subject Person”) acquired Beneficial Ownership of more than the permitted amount of the then outstanding common stock or Voting Securities as a result of the acquisition of common stock or Voting Securities by the Company which, by
reducing the number of shares of common stock or Voting Securities then outstanding, increases the proportional number of shares Beneficially Owned by the Subject Persons, provided that if a Change in Control would occur (but for the operation of
this sentence) as a result of the acquisition of common stock or Voting Securities by the Company, and after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional common stock or Voting Securities
which increases the percentage of the then outstanding Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur. 
 (g) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (h)
“Committee” shall mean the Board or such other committee of the Board appointed by the Board from time to time to administer the Plan and to perform the functions set forth herein. 
 (i) “Employee” shall mean any employee of the Company or any of its subsidiaries. 
 (j) “Good Reason” shall mean the occurrence after a Change in Control of any of the following events or conditions without the
Participant’s express written consent: 
 (i) a change in the Participant’s status, title, position or
responsibilities (including reporting responsibilities) which, in the Participant’s reasonable judgment, does not represent a promotion from his or her status, title, position or responsibilities as in effect immediately prior thereto; the
assignment to the Participant of any duties or responsibilities which, in the Participant’s reasonable judgment, are inconsistent with such status, title, position or responsibilities; or any removal of the Participant from or failure to
reappoint or reelect him or her to any of such positions, except in connection with the termination of his or her employment for disability, for Cause, as a result of his or her death or by the Participant other than for Good Reason; 
 (ii) a reduction by the Company in the Participant’s Base Salary as in effect immediately prior to the Change in Control or as the
same may be increased from time to time, or a failure to increase Participant’s Base Salary as of his or her established annual salary review date in any calendar year by a percentage at least as great as the annual increase in the Consumer
Price Index for All Items most recently published by Statistics Canada prior to such salary review date; 
 (iii) the
Company’s requiring the Participant to be based at any place outside a 50-kilometer radius from the Participant’s business office location immediately prior to the Change in Control, except for reasonably required travel on Company
business which is not materially greater than such travel requirements prior to the Change in Control; 
  

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 (iv) the failure by the Company to continue to provide the Participant with compensation
and benefits substantially similar (in terms of benefit levels and/or reward opportunities) to those provided for under the Participant’s Employment Agreement, if applicable, and those provided to him or her under any of the employee benefit
plans in which the Participant becomes a participant, or the taking of any action by the Company which would directly or indirectly materially reduce any of such benefits or deprive the Participant of any material fringe benefit enjoyed by him or
her at the time of the Change in Control; 
 (v) any material breach by the Company of any provision of the Participant’s
Employment Agreement with the Company, if applicable; and 
 (vi) the failure of the Company to notify the Participant within
the 30-day period following any transfer of business and assets to any other person by merger, consolidation, sale of assets or otherwise, that the Company has obtained a satisfactory agreement from a successor or assign of the Company to assume and
agree to perform the Participant’s Employment Agreement with the Company, if any. 
 (k) “Operating Unit”, for any
fiscal year, shall mean a division, Company subsidiary, group, product line or product line grouping for which an income statement reflecting sales and operating income is produced. 
 (l) “Participant”, for any fiscal year, shall mean an Employee selected by the CEO, subject to the authority and discretion of the
Committee, to participate in the Plan for such fiscal year. 
 (m) “Performance Objectives”, for any fiscal year, shall mean
one or more financial performance objectives of the Company and/or Operating Unit(s) established by the Committee in accordance with Section 4, which may include threshold Performance Objectives, target Performance Objectives and maximum Award
Performance Objectives. Performance Objectives may be expressed in terms of earnings per share, earnings (which may be expressed as earnings before specified items), return on assets, return on invested capital, revenue, operating income, cash flow,
total shareholder return or any combination thereof. Performance Objectives may be expressed as a combination of Company and/or Operating Unit(s) Performance Objectives and may be absolute or relative (to prior performance or to the performance of
one or more other entities or external indices) and may be expressed in terms of a progression within a specified range. 
  

 - 8 -Personal Supplemental Executive Retirement Savings Plan

 Exhibit 10(b) 
 Personal Supplemental Executive Retirement Savings Plan, Effective January 1, 2009 
 THE TDL GROUP CORP. 
 PERSONAL
SUPPLEMENTAL EXECUTIVE RETIREMENT SAVINGS PLAN 
 EFFECTIVE JANUARY 1, 2009 

 Table of Contents 
  

			
	 Section 1 - Establishment and Purpose
	  	1
		
	 Section 2 - Definitions
	  	1
		
	 Section 3 - Participation
	  	6
		
	 Section 4 - Payments To Vested Accounts
	  	7
		
	 Section 5 - Vested Accounts and Tax Free Savings Accounts
	  	8
		
	 Section 6 - Bonuses to Non-Vested Participants; Notional Accounts
	  	10
		
	 Section 7 - Termination and Retirement
	  	13
		
	 Section 8 - Total Disability
	  	15
		
	 Section 9 - Administration of the Savings Plan
	  	16
		
	 Section 10 - General Provisions
	  	17
		
	 Section 11 - Amendment To or Termination of the Savings Plan
	  	18
		
	 Appendix “A” - List of Participants as of the Effective Date
	  	19
		
	 Appendix “B” - List of Permitted Investments
	  	20
		
	 Schedule “A” - Acknowledgment and Direction
	  	21
		
	 Schedule “B” - Tax Free Savings Account – Acknowledgment and Direction
	  	22

 Section 1 - Establishment and Purpose 
  

	1.01	Effective January 1, 2009, The TDL Group Corp. establishes The TDL Group Corp. Personal Supplemental Executive Retirement Savings Plan (the “Savings Plan”),
the terms and conditions of which are contained in this document. 

  

	1.02	The purpose of the Savings Plan is to provide designated employees of The TDL Group Corp. and Participating Affiliates (as defined below) with additional compensation to be
saved for their retirements in accordance with and subject to the provisions and limitations of this Savings Plan. 

 Section 2 -
Definitions 
  

	2.01	“Administration Agreement” means the agreement between the Company and the Administrative Agent to be entered into on or prior to the Effective
Date relating to the Administrative Agent’s responsibilities in connection with this Savings Plan. 

  

	2.02	“Administrative Agent” means
                     or another financial institution selected by the Company to act as Administrative Agent for this Savings Plan.

  

	2.03	“Affiliate” means any Person which is subsidiary to, or associated or affiliated with, THI where: 

  

	 	(a)	in the case of a Person that is a corporation, THI and/or its Affiliates beneficially own, directly or indirectly, shares representing 50% or more of the votes that may be cast to
elect directors of such corporation; 

  

	 	(b)	in the case of a Person that is a limited partnership, the general partner of such limited partnership is an Affiliate of THI; 

  

	 	(c)	in the case of a Person that is a trust where the trustees have discretionary powers in respect of the trust assets, THI and/or its Affiliates have the right to elect or appoint a
majority of the trustees of such trust; and 

  

	 	(d)	 in the case of a Person other than a corporation, limited partnership or trust, THI and/or its Affiliates possess, directly or indirectly, at least a majority
ownership 

  

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interest in such Person and have the power to determine the policies and conduct of the management of such Person; 

  

	2.04	“Acknowledgment and Direction” means an irrevocable Acknowledgment and Direction executed by a Participant in the form attached hereto as Schedule A.

  

	2.05	“Board” means the Board of Directors of THI, a committee thereof, including the HRCC, or any person authorized by the Board to act on its behalf.

  

	2.06	“Business Day” means a day on which banks are open for business in the City of Toronto. 

  

	2.07	“CEO” means the Chief Executive Officer of the Company. 

  

	2.08	“Change in Control” means: 

  

	 	(a)	the direct or indirect acquisition of a majority of the voting shares of TDL or THI by any unaffiliated entity after the Effective Date; 

  

	 	(b)	the merger or amalgamation of TDL or THI into an unaffiliated entity the effect of which is that a majority of the voting shares of TDL or THI are acquired, directly or indirectly,
by any unaffiliated entity after the Effective Date; 

  

	 	(c)	the acquisition of all or substantially all of the assets of TDL or THI by any unaffiliated entity after the Effective Date; or 

  

	 	(d)	with respect to any Participant who is and continues to be employed by a Person other than THI or TDL, such employer ceasing to be an Affiliate of THI for any reason whatsoever;

 provided that the following events shall be deemed not to constitute a Change in Control: 
  

	 	(e)	the amalgamation or merger of TDL, THI or an Affiliate with TDL, THI or an Affiliate; 

  

	 	(f)	the dissolution of TDL, THI or an Affiliate into TDL, THI or an Affiliate; or 

  

	 	(g)	the acquisition of all or substantially all of the assets or voting shares of TDL, THI or an Affiliate by an Affiliate. 

  

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	2.09	“Company” means THI, TDL and any Affiliate, and their successors and assigns so long as such entities remain Affiliates;
provided that, where any action is to be taken or decision to be made, “Company” shall mean only TDL. 

  

	2.10	“Earnings” means the aggregate of each Participant’s base salary and short-term incentive compensation (i.e., annual bonus) received
during the Plan Year from the Company, excluding special bonuses and allowances, as these terms are used by the Company in the ordinary course of its business and also excluding any amount paid or credited to the Participant’s Vested Account,
Tax Free Savings Account or Notional Account pursuant to this Savings Plan during the Plan Year. For sake of greater clarity, “Earnings” does not include stock-based incentives granted to Participants or disability benefits paid to a
Participant under the TDL Group Benefit Program or a similar program maintained for the benefit of employees of one or more Participating Affiliates. 

  

	2.11	“Effective Date” means January 1, 2009. 

  

	2.12	“Employee” means an employee of the Company or a Participating Affiliate who is a Canadian resident for purposes of the Tax Act.

  

	2.13	“HRCC” means the Human Resources Compensation Committee. 

  

	2.14	“Non-Vested Participant” means an Employee who has satisfied the eligibility conditions in Section 3.02 but has not yet completed three years of
Service. 

  

	2.15	“Notional Account” means the notional account established by the Company or the Administrative Agent for a Non-Vested Participant pursuant to Section
6.01. 

  

	2.16	“Participant” means both a Vested Participant and a Non-Vested Participant. 

  

	2.17	“Participating Affiliate” means an Affiliate established or continued under Canadian law that has employees meeting the eligibility requirements to be
able to participate in this Savings Plan. 

  

	2.18	“Permitted Investment” means one of the investments or portfolios that is listed in Appendix B or designated by the Company and the Administrative
Agent pursuant to Section 5.02. 

  

	2.19	 “Person” means an individual, partnership, limited partnership, general partnership, joint stock company, joint venture, association,
company, trust, pension fund, bank, trust company, loan company, insurance company, land trust, business trust or other 

  

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organization, whether or not legal entities, and government and agency and any political subdivision thereof. 

  

	2.20	“Plan Year” means the calendar year. 

  

	2.21	“Registered Plan” means the defined contribution pension plan for the employees of TDL and certain other Canadian Affiliates registered under the
Pension Benefits Act of Ontario and the Tax Act. 

  

	2.22	“Savings Plan” has the meaning set forth in Section 1.01. 

  

	2.23	“Service” means a Participant’s period of employment with the Company commencing on the Participant’s date of hire. Service will not be
considered to be broken by periods of absence (with or without pay), granted by the Company in accordance with its regular and established practices or by periods of absence while benefits are being paid to the Participant under the Company’s
salary continuance or long term disability plan. For any Participant for whom a prior period of employment would be disregarded following a prior termination of such employment, the Company may, in its sole discretion, treat such prior and current
periods of employment as Service. 

  

	2.24	“Tax Act” means the Income Tax Act (Canada), as amended. 

  

	2.25	“Tax Free Savings Account” means the account established for a Vested Participant pursuant to Section 5.01 on terms acceptable to the Company
that is a “qualifying arrangement” for purposes of subsection 146.2(1) of the Tax Act. 

  

	2.26	“TDL” means The TDL Group Corp., a Nova Scotia unlimited liability company and its successors and assigns. 

  

	2.27	“TDL Group Benefit Program” means the TDL group benefits program G001 16072 issued by Manulife Financial, or such replacement policy or policies that
the Company may arrange. 

  

	2.28	“TDL Supplemental Plan” means The TDL Group Corp. Amended and Restated Supplementary Retirement Plan, established effective November 1, 2006.

  

	2.29	“THI” means Tim Hortons Inc., a Delaware corporation, and its successors and assigns. 

  

	2.30	“Total Disability” (or “Totally Disabled”) means a disability that qualifies a Participant for disability benefits under the TDL Group
Benefit Program or a similar program maintained for the benefit of employees of one or more Participating Affiliates. 

  

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	2.31	“Vested Account” means the account established for a Vested Participant pursuant to Section 5.01 on terms acceptable to the Company.

  

	2.32	“Vested Participant” means an Employee who has satisfied: 

  

	 	(a)	the eligibility requirements of Section 3.01; or 

  

	 	(b)	the eligibility requirements of Section 3.03. 

  

	2.33	“Withholding Tax” means all taxes, charges, fees, levies and other amounts (whether federal, provincial, local or foreign), including Canada Pension
Plan and Employment Insurance premiums or similar amounts, required to be deducted and withheld and remitted to the Canada Revenue Agency, any federal, provincial, local or foreign governmental authority in respect of any payment paid to a
Participant or his or her estate. 

  

	2.34	“Yearly Amount” means: 

  

	 	(a)	for the 2009 Plan Year of a Participant whose contribution rate for 2008 under the TDL Supplemental Plan (as determined pursuant to Section 4.02(a) thereof) was at either 6% or
8% of Earnings, an amount equal to 10% of the Participant’s Earnings, less the amount of the Company’s contribution on the Participant’s behalf to the Registered Plan in the 2009 Plan Year; 

  

	 	(b)	for the 2009 Plan Year of a Participant whose contribution rate for 2008 under the TDL Supplemental Plan (as determined pursuant to Section 4.02(a) thereof) was at 22% of
Earnings, an amount equal to 18% of the Participant’s Earnings, less the amount of the Company’s contribution on the Participant’s behalf to the Registered Plan in the 2009 Plan Year; 

  

	 	(c)	for the 2010 Plan Year of a Participant whose contribution rate for 2008 under the TDL Supplemental Plan (as determined pursuant to Section 4.02(a) thereof) was at 22% of
Earnings, an amount equal to 15% of the Participant’s Earnings, less the amount of the Company’s contribution on the Participant’s behalf to the Registered Plan in the 2010 Plan Year; and 

  

	 	(d)	in all other cases, an amount equal to 12% of the Participant’s Earnings, less the amount of the Company’s contribution on the Participant’s behalf to the Registered
Plan in the applicable Plan Year. 

  

 - 5 - 

 In this Savings Plan, words importing the singular number include the plural and vice versa; and references to a Section
or Sections means a Section or Sections in this instrument. 
 Section 3 - Participation 
  

	3.01	Participants on the Effective Date 

 Each
Employee of the Company who was an active member of the TDL Supplemental Plan immediately before the Effective Date and who has delivered an Acknowledgment and Direction to the Company with effect from the Effective Date: 
  

	 	(a)	shall become a Vested Participant in the Savings Plan on the Effective Date, provided that such Employee has completed three years of Service; or 

  

	 	(b)	shall become a Non-Vested Participant in the Savings Plan on the Effective Date, where such Employee has not completed three years of Service. 

 Appendix A to the Savings Plan lists the Participants as of the Effective Date. 
  

	3.02	Participants After the Effective Date 

 Each
Employee of the Company who after the Effective Date: 
  

	 	(a)	is an individual who is promoted to or hired at the Vice President officer level or above for the Company or a Participating Affiliate, or who is otherwise designated as a
Participant by the HRCC as eligible for participation in the Savings Plan; 

  

	 	(b)	is a member of the Registered Plan; and 

  

	 	(c)	has delivered an Acknowledgment and Direction to the Company, 

 shall become a Non-Vested Participant in the Savings Plan on the first day of the month coincident with or next following the month in which the Employee becomes eligible for participation in the Savings Plan in accordance with this
Section 3.02. 
  

	3.03	Becoming a Vested Participant  

 Each
Non-Vested Participant shall become a Vested Participant on the earlier of: 
  

	 	(a)	the day that the Non-Vested Participant has completed three years of Service; or 

  

	 	(b)	a Change of Control, 

 provided that, in each case, the
Participant has delivered a signed Acknowledgement and Direction to the Company. 
  

 - 6 - 

	3.04	Other Employee Plans  

 Notwithstanding
anything to the contrary herein, an Employee is not eligible to participate in the Savings Plan during any period of employment in which the Employee is a participant of a plan or arrangement maintained by the Company or an Affiliate that provides
additional salary, wages or retirement benefits, which the Company designates as a plan or arrangement that precludes its participants from participating in the Savings Plan. 
 Section 4 - Payments To Vested Accounts 
  

	4.01	Participant Contributions 

 Subject to
Section 4.04, a Participant may only make contributions to the Savings Plan out of the additional compensation paid to the Participant by the Company pursuant to this Savings Plan, which the Participant directs to the Participant’s Vested
Account or Tax Free Savings Account in accordance with the Participant’s Acknowledgment and Direction and the provisions of this Savings Plan. 
  

	4.02	Company Payments to Vested Participants 

 Not
later than 30 days after the end of each Plan Year, the Company shall, in accordance with the Vested Participant’s Acknowledgment and Direction and subject to Section 4.03, pay the Yearly Amount, less applicable Withholding Taxes, to the
Vested Account of each Vested Participant who was actively employed as an Employee and who had not attained age 69 at the end of such Plan Year (including a Vested Participant who became a Vested Participant in that Plan Year). 
  

	4.03	Tax Free Savings Account 

 In any Plan Year,
a Participant may direct the Company, as agent for the Participant, to pay all or a portion of any amount that would otherwise be paid to the Participant’s Vested Account pursuant to Sections 4.02 or Section 6.03 in a Plan Year to the
Participant’s Tax Free Savings Account, by providing direction to the Company on the form attached hereto as Schedule B; provided that the aggregate of all amounts paid to the Participant’s Tax Free Savings Account together with any other
contributions by the Participant to the Tax Free Savings Account or any other tax free savings account 

  

 - 7 - 

 
established by the Participant in a Plan Year may not exceed the “TFSA dollar limit” in subsection 207.01(1) of the Tax Act for that Plan Year. For
greater certainty, all amounts paid under this Savings Plan to a Participant’s Tax Free Savings Account are contributions of the Participant and not the Company to such Tax Free Savings Account. 
  

	4.04	Contribution of TDL Supplemental Plan Balances 

 Any Participant who was a Participant under the TDL Supplemental Plan and who received a cash distribution, net of any applicable Withholding Tax, on the liquidation and wind-up of the TDL Supplemental Plan (the “Wind-up
Funds”) may deposit all or a portion of the Wind-up Funds into his or her Vested Account and/or his or her Tax Free Savings Account within 30 days of the Effective Date in the manner determined by the Company, provided that the Participant
has given written notice to the Company of his or her intention to make such a deposit no later than 45 days after the Effective Date. Any funds so deposited to the Vested Account or the Tax Free Savings Account will be subject to the provisions of
this Savings Plan. 
 Section 5 - Vested Accounts and Tax Free Savings Accounts 
  

	5.01	Vested Participant’s Account 

 Each
Vested Participant shall establish a Vested Account and, if desired, a Tax Free Savings Account with the Administrative Agent, into which payments under Sections 4.02 and 6.03 of this Savings Plan shall be made, Permitted Investments acquired
pursuant to Section 5.02 shall be held, and that shall otherwise be subject to the terms of this Savings Plan. 
  

	5.02	Permitted Investments 

 Subject to the
Administration Agreement: 
  

	 	(a)	Appendix B sets forth the investments in which the Participants may invest the funds held in their Vested Accounts and Tax Free Savings Accounts (“Permitted
Investments”); 

  

	 	(b)	at any time and from time to time, the Company and the Administrative Agent may, in accordance with the Administration Agreement, designate one or more additional Permitted
Investments; and 

  

 - 8 - 

	 	(c)	the Company and the Administrative Agent may cause an investment to cease to be a Permitted Investment; however, unless otherwise required by the Administrative Agent, any Vested
Participant who holds such a Permitted Investment in his or her Vested Account and/or Tax Free Savings Account shall not be required to sell the investment because it ceases to be a Permitted Investment in accordance with this Section 5.02(c).

  

	5.03	Investment Elections 

 Subject to the
Administration Agreement: 
  

	 	(a)	each Vested Participant shall have the right and obligation to designate the Permitted Investments in which the funds in his or her Vested Account and Tax Free Savings Account will
be invested; 

  

	 	(b)	a Vested Participant may change the designation made under Section 5.03(a) or transfer an amount invested in one Permitted Investment to another Permitted Investment by filing
an election with the Administrative Agent in a manner prescribed by the Administration Agreement or which is otherwise acceptable to the Administrative Agent; 

  

	 	(c)	if a Vested Participant does not make an election with respect to the investment of the funds in his or her Vested Account and Tax Free Savings Account, the Vested Participant shall
be deemed to have elected a short-term interest fund or the Permitted Investment that is designated under Section 5.02 which, in the opinion of the Company, is most similar to a short-term interest fund; and 

  

	 	(d)	the Company may establish rules, regulations and procedures regarding the Permitted Investments as it deems appropriate in its sole discretion, provided that no such rule,
regulation or procedure may be enacted if it would cause a Tax Free Savings Account to cease to be a “qualifying arrangement” within the meaning of subsection 146.2(1) of the Tax Act or would cause this Savings Plan to be a “salary
deferral arrangement”, “employee benefit plan” or “retirement compensation arrangement” as defined in subsection 248(1) of the Tax Act. 

  

 - 9 - 

	5.04	Expenses 

  

	 	(a)	Participant Taxes: 

 Each Participant is
responsible for the payment and reporting of all taxes payable in respect of amounts paid or credited to the Participant under this Savings Plan, and any taxes payable in respect of the Participant’s Vested Account or Tax Free Savings Account,
provided that Withholding Taxes shall be withheld out of amounts payable to the Participants hereunder, and the Person making such Withholding Taxes will make any reporting in respect of such Withholding Taxes. 
  

	 	(b)	Account Expenses: 

 Each Participant shall be
responsible for the costs and expenses relating to the establishment, maintenance and operation of the Participant’s Vested Accounts and Tax Free Savings Accounts. 
  

	 	(c)	Company Expenses: 

 Subject to the foregoing, the
Company shall pay all other costs and expenses related to the establishment, maintenance and operation of the Savings Plan. 
 Section 6 - Bonuses to
Non-Vested Participants; Notional Accounts 
  

	6.01	Timing of Bonus 

  

	 	(a)	Not later than 30 days after the end of each Plan Year, the Company shall, in accordance with and subject to this Section 6, declare a bonus effective as of the last Business
Day of such Plan Year equal to the Yearly Amount to each Non-Vested Participant who was actively employed as an Employee and who had not attained age 69 at the end of such Plan Year. Any such bonus will be in respect of the services rendered by such
Participant during such Plan Year, provided that such bonus shall be subject to the provisions and limitations of this Savings Plan and, as such, shall be recorded in the Notional Account of the Non-Vested Participant. 

  

	 	(b)	 The CEO or the Board, in the case of the CEO, if applicable, has the sole and absolute discretion whether any bonus will be declared to a Non-Vested Participant
pursuant to this Savings Plan during any Plan Year and may further 

  

 - 10 - 

	 	 
reduce the amount that would otherwise be credited to a Non-Vested Participant’s Notional Account if the Non-Vested Participant does not report for his
or her employment for any reason or does not perform to the Company’s expectations.  

  

	6.02	Notional Accounts 

 Either the Company or the
Administrative Agent shall establish and maintain in its records a Notional Account for each Non-Vested Participant that records the aggregate of all amounts recorded to the Notional Account pursuant to Section 6.01 or Section 8.01.

  

	6.03	Payments at Vesting 

  

	 	(a)	In addition to any payments made in accordance with Section 4.02, the Company shall, in accordance with the Participant’s Acknowledgment and Direction and subject to
Section 4.03, pay to the Vested Account of a Participant the total balance in that Participant’s Notional Account, less applicable Withholding Taxes, on or before the earlier of: (i) the last Business Day of the Plan Year in which the
Participant becomes a Vested Participant; and (ii) the last Business Day of the Plan Year that is three years after the Plan Year in respect of which an amount was first recorded in the Participant’s Notional Account; and

  

	 	(b)	upon making the payment contemplated by Section 6.03(a), the Company shall notify the Administrative Agent, if applicable, and the balance in the Participant’s Notional
Account shall be reduced to nil and such Notional Account shall thereupon be terminated. 

  

	6.04	Payments Prior to Vesting 

  

	 	(a)	Triggering Event Payments 

 Notwithstanding any
other provision herein to the contrary, if any of the following events occur during any Plan Year (each a “Triggering Event”): 
  

	 	(i)	the Non-Vested Participant’s employment is terminated for any reason, including retirement, after the Participant attains age 65; 

  

	 	(ii)	the Non-Vested Participant’s employment is terminated following a period of Total Disability; 

  

	 	(iii)	 the Non-Vested Participant’s employment is terminated by the Company without cause prior to the date of a Change in Control, a Change of 

  

 - 11 - 

	 	 
Control occurs after the termination, and the Non-Vested Participant reasonably demonstrates that the termination: (A) was at the request of a third
party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control; or (B) otherwise arose in connection with, or in anticipation of, a Change in Control which was threatened or proposed;

  

	 	(iv)	the Non-Vested Participant dies; or 

  

	 	(v)	in such other circumstances as the HRCC may, in its sole discretion, determine; then, 

 the Company shall, on the last day of the first full month following the occurrence of the Triggering Event, notify the Administrative Agent, if applicable, and pay to the Non-Vested Participant, or, in the case of
the Triggering Event in Section 6.04(a)(iv), his or her estate, the total balance in that Participant’s Notional Account, less applicable Withholding Taxes. In addition to the foregoing, in the case of a Triggering Events other than the
Triggering Event in Section 6.04(a)(ii), the Company shall also, on the last day of the first full month following the occurrence of the Triggering Event, pay to the Non-Vested Participant, or, in the case of the Triggering Event in
Section 6.04(a)(iv), his or her estate, an amount calculated in accordance with Subsection 4.02 as though the Participant was a Vested Participant who was actively employed by the Company at such time, based on the Participant’s
Earnings for the period from the commencement of the Plan Year in which the Triggering Event occurred to the date of the Triggering Event, less applicable Withholding Taxes. For greater certainty, in the case of a Triggering Event in
Section 6.04(a)(ii), the Company shall also make the payment to the Participant in accordance with Section 8.01(a)(i) (based on the Participant’s Earnings for periods of active employment), as though the Participant was a Vested
Participant at that time, provided that in the case of termination of employment due to Total Disability as described in Section 6.04(a)(ii), no return to active employment shall be required. 
  

 - 12 - 

	 	(b)	Termination  

 Except as otherwise provided in this
Section 6.04, a Non-Vested Participant whose employment is terminated for any reason is not entitled to any payment under the Savings Plan, and the balance in the Non-Vested Participant’s Notional Account as at the date of such termination
shall be reduced to nil without any payment. 
 Section 7 - Termination and Retirement 
  

	7.01	Vested Participant’s Accounts 

  

	 	(a)	In accordance with the Acknowledgment and Direction of the Participant, each Vested Participant will direct the Administrative Agent to hold the Permitted Investments in the Vested
Participant’s Vested Account or Tax Free Savings Account until such time as the Administrative Agent is notified by the Company that: 

  

	 	(i)	the Participant’s employment was terminated for any reason; 

  

	 	(ii)	the Participant’s employment is terminated following a period of Total Disability; 

  

	 	(iii)	the Savings Plan is terminated; 

  

	 	(iv)	the Participant dies; or 

  

	 	(v)	in such other circumstances as the HRCC may, in its sole discretion, determine. 

  

	 	(b)	At any time and from time to time following the delivery of the notice described in Section 7.01(a) in respect of a Vested Participant, the Vested Participant may:

  

	 	(i)	direct the Administrative Agent to sell any of the Permitted Investments held in the Vested Participant’s Vested Account and/or Tax Free Savings Account;

  

	 	(ii)	pay any or all of the money in the Vested Participant’s Vested Account and/or Tax Free Savings Account to the Vested Participant or such other person as the Vested Participant
may direct; 

  

 - 13 - 

	 	(iii)	transfer the Permitted Investments in the Vested Participant’s Vested Account to the Vested Participant or such other person as the Vested Participant may direct; or

  

	 	(iv)	transfer the Permitted Investments in the Tax Free Savings Account to another tax free savings account designated by the Vested Participant. 

  

	7.02	Additional Payments During a Plan Year 

 Notwithstanding any other provision herein to the contrary, if a Vested Participant: 
  

	 	(a)	retires from employment after the Vested Participant has attained age 60 and has completed at least 10 years of Service with the Company or a Participating Affiliate;

  

	 	(b)	retires from employment after the Vested Participant has attained age 65; 

  

	 	(c)	is terminated following a Change in Control; 

  

	 	(d)	is terminated by the Company without cause prior to the date of a Change in Control, a Change of Control occurs after the termination, and the Vested Participant reasonably
demonstrates that the termination: (A) was at the request of a third party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control; or (B) otherwise arose in connection with, or in anticipation of,
a Change in Control which was threatened or proposed; or 

  

	 	(e)	dies; then, 

 the Company shall, on the last day of the
first full month following the occurrence of an event described in paragraphs 7.02(a) to (e), pay to the Vested Participant, or his or her estate, as applicable, an amount that is equal to the payment calculated in accordance with
Subsection 4.02, based on the Vested Participant’s Earnings for the period from the commencement of the Plan Year in which such event occurred to the date of such event, less Withholding Tax. 
  

 - 14 - 

 Section 8 - Total Disability 
  

	8.01	Total Disability 

  

	 	(a)	If a Participant becomes Totally Disabled during a Plan Year and returns to active employment with the Company during that Plan Year or a subsequent Plan Year, then the Company
shall: 

  

	 	(i)	in the case of a Vested Participant, pay an amount to the Vested Participant’s Vested Account and/or Tax Free Savings Account in accordance with Section 4.02 or
Section 4.03, as applicable, based on the Vested Participant’s Earnings for the periods of his or her active employment with the Company during the Plan Year or Plan Years, as applicable, in which the Vested Participant became or continued
to be Totally Disabled, but nonetheless performed services for at least part of such Plan Year or Plan Years; and 

  

	 	(ii)	in the case of a Non-Vested Participant, declare a bonus to the Non-Vested Participant in accordance with Section 6.01 based on the Non-Vested Participant’s Earnings for
the periods of his or her active employment with the Company during the Plan Year or Plan Years, as applicable, in which the Non-Vested Participant became or continued to be Totally Disabled, but nonetheless performed services for at least part of
such Plan Year or Plan Years, which shall be recorded in the Non-Vested Participant’s Notional Account. 

  

	 	(b)	 If a Vested Participant becomes Totally Disabled and their employment is terminated as a result of becoming Totally Disabled, then the Company shall notify the
Administrative Agent in accordance with Section 7.01, and the Company will pay an amount to the Participant in accordance with Section 8.01(a)(i) for periods of active employment with return to active service not required. If a Non-Vested
Participant becomes Totally Disabled and their employment is terminated as a result of becoming Totally Disabled, then the Company shall notify the Administrative Agent in accordance with Section 6.04, and the Company will pay an amount to the
Participant in accordance with 

  

 - 15 - 

	 	 
Section 8.01(a)(i) for periods of active employment (as if the Participant were a Vested Participant) with return to active service not required.

 Section 9 - Administration of the Savings Plan 
  

	9.01	Responsibility for Administration 

  

	 	(a)	The HRCC shall be responsible for the overall administration, interpretation and application of this Savings Plan, and all decisions of the HRCC in connection with the
administration of the Savings Plan shall be final and binding upon each Participant. The HRCC may enact such rules and regulations relating to the operation of the Savings Plan as it considers necessary for the carrying out of its provisions and may
amend or revoke such rules and regulations from time to time, provided that any such rules and regulations and amendments thereto will not: (A) be inconsistent with the terms of this Savings Plan; (B) cause a Tax Free Savings Account
established in connection with this Savings Plan to cease to be a “qualifying arrangement” within the meaning of subsection 146.2 of the Tax Act; or (C) cause this Savings Plan to be a “salary deferral arrangement”,
“employee benefit plan” or “retirement compensation arrangement” as defined in subsection 248(1) of the Tax Act. 

  

	 	(b)	This Savings Plan is intended for Participants who are residents of Canada for purposes of the Tax Act and are not subject to the taxation laws of any other country on amounts paid
or credited in accordance with this Savings Plan. The Company has the right to modify, amend, suspend or terminate this Savings Plan with respect to any Participant who becomes a non-resident of Canada for purposes of the Tax Act or who, in its
opinion, is subject to the taxation laws of a country other than Canada, including without limitation Section 409A of the Internal Revenue Code of 1986, on amounts paid or credited in accordance with this Savings Plan.

  

	9.02	Delegation of Duties 

 The HRCC may delegate
certain duties with respect to the administration of the Savings Plan to such committee or person or persons as it may determine, whether or not the 

  

 - 16 - 

 
member of the committee or the person or persons are employees, officers or directors of the Company. The Company may authorize the committee, person or
persons so determined by it to act on its behalf and to execute instruments on its behalf. 
 Section 10 - General Provisions 
  

	10.01	Rights of Employee 

 Participation in this
Savings Plan does not confer on the Participant any rights that the Participant did not otherwise possess as an Employee, except to such benefits as have specifically accrued to the Participant under the terms of the Savings Plan. Nothing contained
in the Savings Plan shall be deemed to give the Participant the right to be retained in the employ of the Company or to interfere with the right of the Company to discharge the Participant at any time without regard to the effect that such discharge
might have upon the Participant under the Savings Plan. 
  

	10.02	Non-Alienation 

 Except as otherwise provided
in this Savings Plan, all payments made under the terms of the Savings Plan are for the Participant’s own use and benefit, are not capable of assignment or alienation, and do not confer upon the Participant, the Participant’s personal
representative or dependent, or any other person, any right or interest in the benefit or deferred benefit that is capable of being assigned or otherwise alienated. 
  

	10.03	Records 

 Whenever used for the purposes of
the Savings Plan, the records of the Company will be deemed to be conclusive as to the facts with which they are concerned. 
  

	10.04	Applications, Notices and Elections 

 Any
application, notice, or election under the Savings Plan shall be made, given, or communicated, as the case may be, in such manner as the Company may determine. 
  

	10.05	Construction 

 The Savings Plan and all
rights thereunder will be governed, construed, and administered in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. 
  

 - 17 - 

 Section 11 - Amendment To or Termination of the Savings Plan 
  

	11.01	Amendment or Termination of the Savings Plan 

 Subject to the approval of THI, the Company intends to maintain the Savings Plan in force indefinitely, but, nevertheless, reserves the sole right to amend or terminate the Savings Plan in whole or in part at any time, provided, however,
that any amount that is payable to a Participant under the Savings Plan immediately prior to the date of the amendment or termination shall not be reduced by such amendment or termination. For greater certainty, the Vested Account and the Tax Free
Savings Account of each Vested Participant are the Participant’s accounts and, except as provided by Section 7.01, will not otherwise affected by such termination. 
  

	11.02	Notice of Termination  

 Should the Savings
Plan be terminated at any time, the Company shall immediately notify the Administrative Agent of such termination for purposes of Section 7.01. 
  

	11.03	Wind-Up or Bankruptcy of the Company 

 In the
event that THI or the Company at any time files an assignment in bankruptcy, has a petition into bankruptcy filed on its behalf, is in receivership or is wound-up (other than in a reorganization with or involving an Affiliate where all or
substantially all of its assets are transferred to an Affiliate or otherwise is effected for restructuring the group of companies of which THI is a part), the Savings Plan shall be deemed to be fully terminated and the Company shall be deemed to
have been given notice of the Savings Plan’s termination immediately prior to such time to the Administrative Agent. For greater certainty, the Vested Account and the Tax Free Savings Account of each Vested Participant are the
Participant’s accounts and are not to be subject to the claims of creditors of THI or the Company. 
  

 - 18 - 

 Appendix “A” – List of Participants as of the Effective Date 
 Participant Name 
  

	•	 	  

  

 - 19 - 

 Appendix “B” – List of Permitted Investments 
 Permitted Investments 
  

	•	 	  

  

 - 20 - 

 Schedule “A” – Acknowledgment and Direction 
  

			
	 TO:
	  	THE TDL GROUP CORP. (the “Company”)
	 AND TO:
	  	 •   (the “Administrative Agent”)

 WHEREAS, as of the date hereof, the undersigned qualifies under the Company’s Personal
Supplemental Executive Retirement Savings Plan (the “Plan”) as a Participant (as defined in the Plan); 
 AND WHEREAS the
undersigned has received and reviewed a copy of the Plan and desires to participate in the Plan as a Participant; 
 AND WHEREAS capitalized
terms used and not otherwise defined in this Acknowledgment and Direction have the meanings given to such terms in the Plan; 
 NOW
THEREFORE, 
 (a) The undersigned acknowledges that he or she will be receiving amounts under the Plan after he or she becomes Vested
Participant, and that he or she will direct such amounts be paid to the undersigned’s Vested Account and/or Tax Free Savings Account in accordance with the terms of this Acknowledgment and Direction and the Plan. 
 (b) The undersigned acknowledges that the Company will deduct and withhold all applicable Withholding Taxes from amounts directed to the
undersigned’s Vested Account and/or Tax Free Savings Account. 
 (c) Subject to Section 4.03 of the Plan, the undersigned hereby
directs the Company to pay any amounts payable to the undersigned under Sections 4.02 and 6.03 of the Plan to the undersigned’s Vested Account. 
 (d) The undersigned acknowledges that he or she will cause all funds held in the undersigned’s Vested Account and/or Tax Free Savings Account to be invested exclusively in Permitted Investments. 
 (e) The undersigned directs the Administrative Agent not to disburse any amount from his or her Vested Account and/or Tax Free Savings Account until such
time as the Company gives notice to Administrative Agent in accordance with the Plan. 
 (f) This Acknowledgment and Direction is
irrevocable. 
 Dated as of the      day of
            ,         . 
  

							
	 SIGNED, SEALED & DELIVERED
  
 in the presence of:
	  	}	  		 	
	  
	  	  	  
	 	 (seal)
  

	Witness	  		  	Name	 	

  

 - 21 - 

 Schedule “B” – Tax Free Savings Account – Acknowledgment and Direction 
  

			
	 TO:
	  	THE TDL GROUP CORP. (THE “COMPANY”)
	 AND TO:
	  	 •   (THE “ADMINISTRATIVE AGENT”)

 WHEREAS, the undersigned is entitled to receive
$                     (the “Payment”) on or before December 31 of          (the
“Plan Year”) in accordance with the Personal Supplemental Executive Retirement Savings Plan (the “Plan”); 
 AND WHEREAS,
in accordance with Section 4.04 of the Plan, the undersigned wishes to contribute $                     of the Payment to the Tax Free
Savings Account established for the undersigned in accordance with the Plan; 
 AND WHEREAS capitalized terms used and not otherwise defined
in this Acknowledgment and Direction have the meanings given to such terms in the Plan; 
 NOW THEREFORE: 
 (a) The undersigned directs the Company to pay
$                     from the Payment to the undersigned’s Tax Free Savings Account. 
 (b) The undersigned certifies that the amount it directs the Company to pay to the undersigned’s Tax Free Savings Account together with any other
contributions from any source that have been or will be made by the undersigned to the Tax Free Savings Account or any other tax free savings account established by the undersigned during the Plan Year does not and will not exceed the TFSA dollar
limit as defined in subsection 207.01(1) of the Tax Act for the Plan Year. 
 (c) The undersigned acknowledges that any taxes or other
penalties that are assessed in the event that the amount paid to the undersigned’s Tax Free Savings Account exceeds the “TFSA dollar limit” for such Plan Year are the sole responsibility of the undersigned and not those of the
Company. 
 (d) This Acknowledgment and Direction is irrevocable. 
 Dated as of      day of             ,
        . 
  

							
	 SIGNED, SEALED & DELIVERED
  
 in the presence of:
	  	}	  		 	
	  
	  	  	  
	 	 (seal)
  

	Witness	  		  	Name	 	

  

 - 22 -

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