Document:

exv4w5

Exhibit 4.5

QUANTA SERVICES, INC.

2011 OMNIBUS EQUITY INCENTIVE PLAN

     1. Purpose. The purpose of the Quanta Services, Inc. 2011 Omnibus Equity Incentive Plan is to
provide a means through which the Company and its Affiliates may attract and retain key personnel
and to provide a means whereby directors, officers, employees, consultants and advisors (and
prospective directors, officers, employees, consultants and advisors) of the Company and its
Affiliates can acquire and maintain an equity interest in the Company, or be paid incentive
compensation, which may (but need not) be measured by reference to the value of Common Shares,
thereby strengthening their commitment to the welfare of the Company and its Affiliates and
aligning their interests with those of the Company’s shareholders.

     2. Definitions. The following definitions shall be applicable throughout the Plan:

     (a) “Affiliate” means (i) any person or entity that directly or indirectly
controls, is controlled by or is under common control with the Company and/or (ii) to the
extent provided by the Committee, any person or entity in which the Company has a significant
interest. The term “control” (including, with correlative meaning, the terms “controlled by”
and “under common control with”), as applied to any person or entity, means the possession,
directly or indirectly, of the power to direct or cause the direction of the management and
policies of such person or entity, whether through the ownership of voting or other
securities, by contract or otherwise.

     (b) “Award” means, individually or collectively, any Incentive Stock Option,
Nonqualified Stock Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit,
Stock Bonus Award, and Performance Compensation Award granted under the Plan.

     (c) “Board” means the Board of Directors of the Company.

     (d) “Business Combination” has the meaning given such term in the definition of
“Change in Control.”

     (e) “Cause” means, in the case of a particular Award, unless the applicable Award
agreement states otherwise, (i) the Company or an Affiliate having “cause” or “good cause” to
terminate a Participant’s employment or service, as defined in any employment or consulting
agreement between the Participant and the Company or an Affiliate in effect at the time of
such termination or (ii) in the absence of any such employment or consulting agreement (or the
absence of any definition of “Cause” or “Good Cause” contained therein), (A) the Participant’s
commission of, conviction for, plea of guilty or nolo contendere to a felony or a crime
involving moral turpitude, or other material act or omission involving dishonesty or fraud,
(B) the Participant’s conduct that results in or is reasonably likely to result in harm to the
reputation or business of the Company or any of its Affiliates in any material way, (C) the
Participant’s failure to perform duties as reasonably directed by the Company or the
Participant’s material violation of any rule, regulation, policy or plan for the conduct of
any service provider to the Company or its Affiliates or its or their business (which, if
curable, is not cured within 5 days after notice thereof is provided to the Participant) or
(D) the Participant’s gross negligence, willful malfeasance or material act of disloyalty with
respect to the Company or its Affiliates (which, if curable, is not cured within 5 days after
notice thereof is provided to the Participant). Any determination of whether Cause exists
shall be made by the Committee in its sole discretion.

     (f) “Change in Control” shall, in the case of a particular Award, unless the
applicable Award agreement states otherwise or contains a different definition of “Change in
Control,” be deemed to occur upon:

     (i) Any sale, lease, exchange or other transfer (in one or a series of related
transactions) of all or substantially all of the assets of the Company to a
non-Affiliate;

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     (ii) Any “person” as such term is used in Section 13(d) and Section 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”) is or becomes, directly
or indirectly, the “beneficial owner” as defined in Rule 13d-3 under the Exchange Act of
securities of the Company that represent more than 50% of the combined voting power of
the Company’s then outstanding voting securities (the “Outstanding Company Voting
Securities”); provided, however, that, for purposes of this Section 2(f),
the following acquisitions shall not constitute a Change in Control: (I) any acquisition
directly from the Company, (II) any acquisition by the Company, (III) any acquisition by
any employee benefit plan (or related trust) sponsored or maintained by the Company or
any Affiliate, (IV) any acquisition by any corporation pursuant to a transaction that
complies with Sections 2(f)(iv), (V) any acquisition involving beneficial ownership of
less than a majority of the then-outstanding Common Shares (the “Outstanding Company
Common Shares”) or the Outstanding Company Voting Securities that is determined by the
Board, based on review of public disclosure by the acquiring Person with respect to its
passive investment intent, not to have a purpose or effect of changing or influencing the
control of the Company; provided, however, that for purposes of this
clause (V), any such acquisition in connection with (x) an actual or threatened election
contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents or (y) any “Business Combination” (as
defined below) shall be presumed to be for the purpose or with the effect of changing or
influencing the control of the Company;

     (iii) During any period of two (2) consecutive years, the individuals who at the
beginning of such period constituted the Board together with any individuals subsequently
elected to the Board whose nomination by the shareholders of the Company was approved by
a vote of the then incumbent Board (i.e. those members of the Board who either have been
directors from the beginning of such two-year period or whose election or nomination for
election was previously approved by the Board as provided in this Section 2(f)(iii))
cease for any reason to constitute a majority of the Board;

     (iv) The Board or the shareholders of the Company approve and consummate a merger,
amalgamation or consolidation (a “Business Combination”) of the Company with any other
corporation, unless, following such Business Combination, all or substantially all of the
individuals and entities that were the beneficial owners of the Outstanding Company
Common Shares and the Outstanding Company Voting Securities immediately prior to such
Business Combination beneficially own, directly or indirectly, more than 50% of the
then-outstanding shares of common stock (or, for a non-corporate entity, equivalent
securities) and the combined voting power of the then-outstanding voting securities
entitled to vote generally in the election of directors (or, for a non-corporate entity,
equivalent governing body), as the case may be, of the entity resulting from such
Business Combination (including, without limitation, an entity that, as a result of such
transaction, owns the Company or all or substantially all of the Company’s assets either
directly or through one or more subsidiaries);

     (v) The shareholders of the Company approve a complete liquidation of the Company.

     (g) “Code” means the Internal Revenue Code of 1986, as amended, and any successor
thereto. Reference in the Plan to any section of the Code shall be deemed to include any
regulations or other interpretative guidance under such section, and any amendments or
successor provisions to such section, regulations or guidance.

     (h) “Committee” means the Compensation Committee, as constituted from time to
time, of the Board, or if no such committee shall be in existence at any relevant time, the
term “Committee” for purposes of the Plan shall mean the Board; provided, however, that while
the Common Shares are publicly traded, (i) the Committee shall be a committee of the Board
consisting solely of two or more Eligible Directors as necessary in each case to satisfy the
requirements of Section 162(m) of the Code and Rule 16b-3 under the Exchange Act with respect
to Awards granted under the Plan and (ii) with respect to Awards to directors who are not
employees of the Company, the Committee shall consist solely of one or more members of the

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Board who are “independent” within the meaning of the New York Stock Exchange corporate
governance listing standards (or, if the Common Shares are not listed on the New York Stock
Exchange, such similar standards of any other applicable registered stock exchange on which
the Common Shares are listed or quoted at any relevant time). Notwithstanding the foregoing
provisions, the Board, or an authorized committee of the Board, may delegate to a committee of
one or more members of the Board who are not Eligible Directors (the “Equity Grant Committee”)
the authority to grant Awards subject to the limitations contained in Section 5(b) to Eligible
Persons who are not then Officers or Eligible Directors. When used in the Plan, the term
“Committee” shall refer to the Committee; provided, however, that with respect
to Awards granted pursuant to Section 5.1(b) by the Equity Grant Committee, “Committee” shall
refer to the Equity Grant Committee acting within the scope of its authority under the Plan
with respect to the matter covered by the particular reference.

     (i) “Common Shares” means the shares of common stock, par value $0.00001 per
share, of the Company (and any stock or other securities into which such shares of common
stock may be converted or into which they may be exchanged).

     (j) “Company” means Quanta Services, Inc., a Delaware corporation.

     (k) “Confidential Information” means any and all confidential and/or proprietary
trade secrets, knowledge, data, or information of the Company including, without limitation,
any: (A) drawings, inventions, methodologies, mask works, ideas, processes, formulas, source
and object codes, data, programs, software source documents, works of authorship, know-how,
improvements, discoveries, developments, designs and techniques, and all other work product of
the Company, whether or not patentable or registrable under trademark, copyright, patent or
similar laws; (B) information regarding plans for research, development, new service offerings
and/or products, marketing, advertising and selling, distribution, business plans and
strategies, business forecasts, budgets and unpublished financial statements, licenses, prices
and costs, suppliers, customers, customer history, customer preferences, or distribution
arrangements; (C) any information regarding the skills or compensation of employees,
suppliers, agents, and/or independent contractors of the Company; (D) concepts and ideas
relating to the development and distribution of content in any medium or to the current,
future and proposed products or services of the Company; (E) information about the Company’s
investment program, trading methodology, or portfolio holdings; or (F) any other information,
data or the like that is confidential or could reasonably be expected to be confidential.

     (l) “Date of Grant” means the date on which the granting of an Award is
authorized, or such other date as may be specified in such authorization.

     (m) “Disability” means the “disability” of a person as defined in a then
effective long-term disability plan maintained by the Company that covers such person, or if
such a plan does not exist at any relevant time, “Disability” means the permanent and total
disability of a person within the meaning of Section 22(e)(3) of the Code. For purposes of
determining the time during which an Incentive Stock Option may be exercised under the terms
of an Option Agreement, “Disability” means the permanent and total disability of a person
within the meaning of Section 22(e)(3) of the Code. Section 22(e)(3) of the Code provides that
an individual is totally and permanently disabled if he is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment which
can be expected to result in death or which has lasted or can be expected to last for a
continuous period of not less than twelve (12) months.

     (n) “Effective Date” means the date as of which this Plan is adopted by the
Board.

     (o) “Eligible Director” means a person who is (i) a “non-employee director”
within the meaning of Rule 16b-3 under the Exchange Act, and (ii) an “outside director” within
the meaning of Section 162(m) of the Code.

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     (p) “Eligible Person” means any (i) individual employed by the Company or an
Affiliate; (ii) director of the Company or an Affiliate; (iii) consultant or advisor to the
Company or an Affiliate, provided that if the
Securities Act applies, such persons must be eligible to be offered securities
registrable on Form S-8 under the Securities Act; or (iv) prospective employees, directors,
officers, consultants or advisors who have accepted offers of employment or consultancy from
the Company or its Affiliates (and would satisfy the provisions of clauses (i) through (iii)
above once he or she begins employment with or begins providing services to the Company or its
Affiliates).

     (q) “Exchange Act” has the meaning given such term in the definition of “Change
in Control,” and any reference in the Plan to any section of (or rule promulgated under) the
Exchange Act shall be deemed to include any rules, regulations or other interpretative
guidance under such section or rule, and any amendments or successor provisions to such
section, rules, regulations or guidance.

     (r) “Exercise Price” has the meaning given such term in Section 7(b) of the Plan.

     (s) “Fair Market Value” means, as of any date, the value of Common Shares
determined as follows:

     (i) If the Common Shares are listed or quoted on any registered stock exchange, the
Fair Market Value of a Common Share shall be the closing sales price for such a Common
Share (or the closing bid price, if applicable) on such exchange (or if the Common Shares
are listed or quoted on more than one registered exchange, on the exchange with the
greatest volume of trading in the Common Shares) on the day of determination (or if no
such price is reported on that day, on last market trading day prior to the day of
determination), as reported in The Wall Street Journal or such other source as the
Committee deems reliable.

     (ii) In the absence of any listing or quotation of the Common Shares on any such
registered exchange, the Fair Market Value of a Common Share shall be determined in good
faith by the Committee in a manner intended to satisfy the principles of Section 409A of
the Code.

     (t) “Immediate Family Members” shall have the meaning set forth in Section 16(b).

     (u) “Incentive Stock Option” means an Option that is designated by the Committee
as an incentive stock option as described in Section 422 of the Code and otherwise meets the
requirements set forth in the Plan and Section 422 of the Code.

     (v) “Indemnifiable Person” shall have the meaning set forth in Section 4(e) of
the Plan.

     (w) “Intellectual Property Products” shall have the meaning set forth in Section
15(c) of the Plan.

     (x) “Negative Discretion” shall mean the discretion authorized by the Plan to be
applied by the Committee to eliminate or reduce the size of a Performance Compensation Award
consistent with Section 162(m) of the Code.

     (y) “Nonqualified Stock Option” means an Option that is not designated by the
Committee as an Incentive Stock Option.

     (z) “Officer” means a person who is an “officer” of the Company or any Affiliate
within the meaning of Section 16 of the Exchange Act (whether or not the Company is subject to
the requirements of the Exchange Act).

     (aa) “Option” means an Award granted under Section 7 of the Plan.

     (bb) “Option Period” has the meaning given such term in Section 7(b) of the Plan.

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     (cc) “Outstanding Company Common Shares” has the meaning given such term in the
definition of “Change in Control.”

     (dd) “Outstanding Company Voting Securities” has the meaning given such term in
the definition of “Change in Control.”

     (ee) “Participant” means an Eligible Person who has been selected by the
Committee to participate in the Plan and to receive an Award pursuant to Section 6 of the
Plan.

     (ff) “Performance Compensation Award” shall mean any Award designated by the
Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

     (gg) “Performance Criteria” shall mean the criterion or criteria that the
Committee shall select for purposes of establishing the Performance Goal(s) for a Performance
Period with respect to any Performance Compensation Award under the Plan.

     (hh) “Performance Formula” shall mean, for a Performance Period, the one or more
objective formulae applied against the relevant Performance Goal to determine, with regard to
the Performance Compensation Award of a particular Participant, whether all, some portion but
less than all, or none of the Performance Compensation Award has been earned for the
Performance Period.

     (ii) “Performance Goals” shall mean, for a Performance Period, the one or more
goals established by the Committee for the Performance Period based upon the Performance
Criteria.

     (jj) “Performance Period” shall mean the one or more periods of time, as the
Committee may select, over which the attainment of one or more Performance Goals will be
measured for the purpose of determining a Participant’s right to, and the payment of, a
Performance Compensation Award.

     (kk) “Permitted Transferee” shall have the meaning set forth in Section 16(b) of
the Plan.

     (ll) “Person” has the meaning given such term in the definition of “Change in
Control.”

     (mm) “Plan” means this Quanta Services, Inc. 2011 Omnibus Equity Incentive Plan.

     (nn) “Restricted Period” means the period of time determined by the Committee
during which an Award is subject to restrictions or, as applicable, the period of time within
which performance is measured for purposes of determining whether an Award has been earned.

     (oo) “Restricted Stock Unit” means an unfunded and unsecured promise to deliver
Common Shares, cash, other securities or other property, subject to certain restrictions
(including, without limitation, a requirement that the Participant remain continuously
employed or provide continuous services for a specified period of time), granted under Section
9 of the Plan.

     (pp) “Restricted Stock” means Common Shares, subject to certain specified
restrictions (including, without limitation, a requirement that the Participant remain
continuously employed or provide continuous services for a specified period of time), granted
under Section 9 of the Plan.

     (qq) “SAR Period” has the meaning given such term in Section 8(b) of the Plan.

     (rr) “Securities Act” means the Securities Act of 1933, as amended, and any
successor thereto. Reference in the Plan to any section of the Securities Act shall be deemed
to include any rules, regulations or other interpretative guidance under such section, and any
amendments or successor provisions to such section, rules, regulations or guidance.

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     (ss) “Stock Appreciation Right” or "SAR” means an Award granted under
Section 8 of the Plan.

     (tt) “Stock Bonus Award” means an Award granted under Section 10 of the Plan.

     (uu) “Strike Price” means, except as otherwise provided by the Committee in the
case of Substitute Awards, (i) in the case of a SAR granted in tandem with an Option, the
Exercise Price of the related Option, or (ii) in the case of a SAR granted independent of an
Option, an amount not less than the Fair Market Value on the Date of Grant.

     (vv) “Subsidiary” means, with respect to any specified Person:

     (i) any corporation, association or other business entity of which more than 50% of
the total voting power of shares or any equivalent equity-type ownership (without regard
to the occurrence of any contingency and after giving effect to any voting agreement or
shareholders’ agreement that effectively transfers voting power) is at the time owned or
controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person (or a combination thereof); and

     (ii) any partnership (or any comparable foreign entity) (a) the sole general partner
(or functional equivalent thereof) or the managing general partner of which is such
Person or a Subsidiary of such Person or (b) the only general partners (or functional
equivalents thereof) of which are that Person or one or more Subsidiaries of that Person
(or any combination thereof).

     (w) “Substitute Award” has the meaning given such term in Section 5(e).

     3. Effective Date; Duration. The Plan shall be effective as of the Effective Date. Unless
sooner terminated by the Board in accordance with Section 13 hereof, the expiration date of the
Plan, on and after which date no Awards may be granted hereunder, shall be the tenth anniversary of
the Effective Date; provided, however, that such expiration shall not affect Awards
then outstanding, and the terms and conditions of the Plan shall continue to apply to such Awards.

     4. Administration.

     (a) The Committee shall administer the Plan. To the extent required to comply with the
provisions of Rule 16b-3 promulgated under the Exchange Act (if the Board is not acting as the
Committee under the Plan) or necessary to obtain the exception for performance-based
compensation under Section 162(m) of the Code, as applicable, it is intended that each member
of the Committee shall, at the time he takes any action with respect to an Award under the
Plan, be an Eligible Director. However, the fact that a Committee member shall fail to qualify
as an Eligible Director shall not invalidate any Award granted by the Committee that is
otherwise validly granted under the Plan. The acts of a majority of the members present at any
meeting at which a quorum is present or acts approved in writing by a majority of the
Committee shall be deemed the acts of the Committee.

     (b) Subject to the provisions of the Plan and applicable law, the Committee shall have
the sole and plenary authority, in addition to other express powers and authorizations
conferred on the Committee by the Plan, to: (i) designate Participants; (ii) determine the
type or types of Awards to be granted to a Participant; (iii) determine the number of Common
Shares to be covered by, or with respect to which payments, rights, or other matters are to be
calculated in connection with, Awards; (iv) determine the terms and conditions of any Award;
(v) determine whether, to what extent, and under what circumstances Awards may be settled or
exercised in cash, Common Shares, other securities, other Awards or other property, or
canceled, forfeited, or suspended and the method or methods by which Awards may be settled,
exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and
under what circumstances the delivery of cash, Common Shares, other securities, other Awards
or other property and other amounts payable with respect to an Award shall be deferred either
automatically or at the election of the Participant or of the Committee; (vii) interpret,
administer, reconcile any inconsistency in, correct any defect in and/or supply any omission

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in the Plan and any instrument or agreement relating to, or Award granted under, the Plan;
(viii) establish, amend, suspend, or waive any rules and regulations and appoint such agents
as the Committee shall deem appropriate for the proper administration of the Plan; (ix)
accelerate the vesting or exercisability of, payment
for or lapse of restrictions on, Awards; and (x) make any other determination and take any
other action that the Committee deems necessary or desirable for the administration of the
Plan.

     (c) The Committee may delegate to one or more officers of the Company or any Affiliate
the authority to act on behalf of the Committee with respect to any matter, right, obligation,
or election that is the responsibility of or that is allocated to the Committee herein, and
that may be so delegated as a matter of law, except for grants of Awards to persons (i)
subject to Section 16 of the Exchange Act or (ii) who are, or who are reasonably expected to
be, “covered employees” for purposes of Section 162(m) of the Code.

     (d) Unless otherwise expressly provided in the Plan, all designations, determinations,
interpretations, and other decisions under or with respect to the Plan or any Award or any
documents evidencing Awards granted pursuant to the Plan shall be within the sole discretion
of the Committee, may be made at any time and shall be final, conclusive and binding upon all
persons or entities, including, without limitation, the Company, any Affiliate, any
Participant, any holder or beneficiary of any Award, and any shareholder of the Company.

     (e) No member of the Board, the Committee, delegate of the Committee or any employee or
agent of the Company (each such person, an “Indemnifiable Person”) shall be liable for any
action taken or omitted to be taken or any determination made in good faith with respect to
the Plan or any Award hereunder. Each Indemnifiable Person shall be indemnified and held
harmless by the Company against and from any loss, cost, liability, or expense (including
attorneys’ fees) that may be imposed upon or incurred by such Indemnifiable Person in
connection with or resulting from any action, suit or proceeding to which such Indemnifiable
Person may be a party or in which such Indemnifiable Person may be involved by reason of any
action taken or omitted to be taken under the Plan or any Award agreement and against and from
any and all amounts paid by such Indemnifiable Person with the Company’s approval, in
settlement thereof, or paid by such Indemnifiable Person in satisfaction of any judgment in
any such action, suit or proceeding against such Indemnifiable Person, provided, that
the Company shall have the right, at its own expense, to assume and defend any such action,
suit or proceeding and once the Company gives notice of its intent to assume the defense, the
Company shall have sole control over such defense with counsel of the Company’s choice. The
foregoing right of indemnification shall not be available to an Indemnifiable Person to the
extent that a final judgment or other final adjudication (in either case not subject to
further appeal) binding upon such Indemnifiable Person determines that the acts or omissions
of such Indemnifiable Person giving rise to the indemnification claim resulted from such
Indemnifiable Person’s bad faith, fraud or willful criminal act or omission or that such right
of indemnification is otherwise prohibited by law or by the Company’s constituent documents.
The foregoing right of indemnification shall not be exclusive of any other rights of
indemnification to which such Indemnifiable Persons may be entitled under the Company’s
constituent documents, as a matter of law, or otherwise, or any other power that the Company
may have to indemnify such Indemnifiable Persons or hold them harmless.

     (f) Notwithstanding anything to the contrary contained in the Plan, the Board may, in its
sole discretion, at any time and from time to time, grant Awards and administer the Plan with
respect to such Awards. In any such case, the Board shall have all the authority granted to
the Committee under the Plan.

     5. Shares Subject to the Plan; Grant of Awards; Limitations.

     (a) Subject to Section 12 of the Plan, the Committee is authorized to deliver under the
Plan 11,750,000 Common Shares subject to Awards. The aggregate number of Common Shares subject
to Awards granted in any one calendar year to all Participants shall not exceed 5,000,000
shares, and the aggregate number of Common Shares subject to an Award granted in any one
calendar year to any individual shall not exceed 1,000,000 shares.

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     (b) The Committee may, from time to time, grant Options, Stock Appreciation Rights,
Restricted Stock, Restricted Stock Units, Stock Bonus Awards and/or Performance Compensation
Awards to one or more Eligible Persons selected in its sole discretion; provided, however that
the Equity Grant Committee may select
the recipients of Awards other than Incentive Stock Options if (i) such recipients are
not Officers or Eligible Directors, (ii) the aggregate value of the Awards granted in any one
calendar year does not exceed $1,000,000 determined based on the Fair Market Value at the time
of the grants, and (iii) the aggregate value of the Awards granted in any one calendar year to
any individual does not exceed $100,000 determined based on the Fair Market Value at the time
of the grants. A Participant may be granted more than one Award under the Plan, and Awards may
be granted at any time or times during the term of the Plan. The grant of an Award to an
Eligible Person shall not be deemed either to entitle that individual to, or to disqualify
that individual from, participation in any other grant of Awards under the Plan.

     (c) Use of Common Shares to pay the required Exercise Price or tax obligations, or shares
not issued in connection with settlement of an Option or SAR or that are used or withheld to
satisfy tax obligations of the Participant shall, notwithstanding anything herein to the
contrary, not be available again for other Awards under the Plan. Shares underlying Awards
under this Plan that are forfeited, cancelled, expire unexercised, or are settled in cash are
available again for Awards under the Plan.

     (d) Common Shares delivered by the Company in settlement of Awards may be authorized and
unissued shares, shares held in the treasury of the Company, shares purchased on the open
market or by private purchase, or a combination of the foregoing.

     (e) Awards may, in the sole discretion of the Committee, be granted under the Plan in
assumption of, or in substitution for, outstanding awards previously granted by an entity
acquired by the Company or with which the Company combines (“Substitute Awards”). The number
of Common Shares underlying any Substitute Awards shall be counted against the aggregate
number of Common Shares available for Awards under the Plan.

     6. Eligibility. Participation shall be limited to Eligible Persons who have entered into an
Award agreement or who have received written notification from the Committee, or from a person
designated by the Committee, that they have been selected to participate in the Plan.

     7. Options.

     (a) Generally. Each Option granted under the Plan shall be evidenced by an Award
agreement (whether in paper or electronic medium (including email or the posting on a web site
maintained by the Company or a third party under contract with the Company)). Each Option so
granted shall be subject to the conditions set forth in this Section 7, and to such other
conditions not inconsistent with the Plan as may be reflected in the applicable Award
agreement. All Options granted under the Plan shall be Nonqualified Stock Options unless the
applicable Award agreement expressly states that the Option is intended to be an Incentive
Stock Option. Incentive Stock Options shall be granted only to Eligible Persons who are
employees of the Company and its Affiliates, and no Incentive Stock Option shall be granted to
any Eligible Person who is ineligible to receive an Incentive Stock Option under the Code. No
Option shall be treated as an Incentive Stock Option unless the Plan has been approved by the
shareholders of the Company in a manner intended to comply with the stockholder approval
requirements of Section 422(b)(1) of the Code, provided that any Option intended to be an
Incentive Stock Option shall not fail to be effective solely on account of a failure to obtain
such approval, but rather such Option shall be treated as a Nonqualified Stock Option unless
and until such approval is obtained. In the case of an Incentive Stock Option, the terms and
conditions of such grant shall be subject to and comply with such rules as may be prescribed
by Section 422 of the Code. If for any reason an Option intended to be an Incentive Stock
Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the
extent of such nonqualification, such Option or portion thereof shall be regarded as a
Nonqualified Stock Option appropriately granted under the Plan.

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     (b) Exercise Price. The exercise price (“Exercise Price”) per Common Share for
each Option shall not be less than 100% of the Fair Market Value of such share determined as
of the Date of Grant; provided, however, that in the case of an Incentive Stock Option granted
to an employee who, at the time of the grant of such Option, owns shares representing more
than 10% of the voting power of all classes of shares of the
Company or any Affiliate, the Exercise Price per share shall not be less than 110% of the
Fair Market Value per share on the Date of Grant and provided further that, notwithstanding
any provision herein to the contrary, the Exercise Price shall not be less than the par value
per Common Share.

     (c) Vesting and Expiration. Options shall (i) vest and become exercisable in such
manner and on such date or dates, and (ii) expire after such period, not to exceed ten years
(the “Option Period”), in each case as may be determined by the Committee and as set forth in
an Award agreement; provided, however, that the Option Period shall not exceed
five years from the Date of Grant in the case of an Incentive Stock Option granted to a
Participant who on the Date of Grant owns shares representing more than 10% of the voting
power of all classes of shares of the Company or any Affiliate; provided,
further, that notwithstanding any vesting dates set by the Committee in the Award
agreement, the Committee may, in its sole discretion, accelerate the exercisability of any
Option, which acceleration shall not affect the terms and conditions of such Option other than
with respect to exercisability. Unless otherwise provided by the Committee in an Award
agreement: (i) the unvested portion of an Option shall expire upon termination of employment
or service of the Participant granted the Option, and the vested portion of such Option shall
remain exercisable for (A) one year following termination of employment or service by reason
of such Participant’s death or Disability, but not later than the expiration of the Option
Period or (B) 90 days following termination of employment or service for any reason other than
such Participant’s death or Disability, and other than such Participant’s termination of
employment or service for Cause, but not later than the expiration of the Option Period and
(ii) both the unvested and the vested portion of an Option shall expire upon the termination
of the Participant’s employment or service by the Company for Cause.

     (d) Method of Exercise and Form of Payment. No Common Shares shall be delivered
pursuant to any exercise of an Option until payment in full of the Exercise Price therefor is
received by the Company and the Participant has paid to the Company an amount equal to any
federal, state, local and non-U.S. income and employment taxes required to be withheld.
Options that have become exercisable may be exercised by delivery of written notice of
exercise or, if provided for, electronic notice of exercise, to the Company in accordance with
the terms of the Option accompanied by payment of the Exercise Price. The Exercise Price shall
be payable (i) in cash, check, cash equivalent and/or Common Shares having a Fair Market Value
on the date of exercise equal to the Exercise Price (including, pursuant to procedures
approved by the Committee, by means of attestation of ownership of a sufficient number of
Common Shares in lieu of actual delivery of such shares to the Company), provided,
that such Common Shares are not subject to any pledge or other security interest, and (ii) by
such other method as the Committee may permit in accordance with applicable law, in its sole
discretion, including without limitation: (A) in other property having a fair market value on
the date of exercise equal to the Exercise Price or (B) if there is a public market for the
Common Shares at such time, by means of a broker-assisted “cashless exercise” pursuant to
which the Company is delivered a copy of irrevocable instructions to a stockbroker to sell the
Common Shares otherwise deliverable upon the exercise of the Option and to deliver promptly to
the Company an amount equal to the Exercise Price or (C) by a “net exercise” method whereby
the Company withholds from the delivery of the Common Shares for which the Option was
exercised that number of Common Shares having a Fair Market Value equal to the aggregate
Exercise Price for the Common Shares for which the Option was exercised. Any fractional Common
Shares shall be settled in cash. The Committee may specify a reasonable minimum number of
Common Shares or a percentage of the shares subject to an Option that may be purchased on any
exercise of an Option; provided, that such minimum number will not prevent Optionee from
exercising the full number of Common Shares as to which the Option is then exercisable.

9

 

     (e) Notification upon Disqualifying Disposition of an Incentive Stock Option.
Each Participant awarded an Incentive Stock Option under the Plan shall notify the Company in
writing immediately after the date the Participant makes a disqualifying disposition of any
Common Shares acquired pursuant to the exercise of such Incentive Stock Option. A
disqualifying disposition is any disposition (including, without limitation, any sale) of such
Common Shares before the later of (A) two years after the Date of Grant of the Incentive Stock
Option
or (B) one year after the date of exercise of the Incentive Stock Option. The Company
may, if determined by the Committee and in accordance with procedures established by the
Committee, retain possession of any Common Shares acquired pursuant to the exercise of an
Incentive Stock Option as agent for the applicable Participant until the end of the period
described in the preceding sentence.

     (f) Compliance With Laws, etc. Notwithstanding the foregoing, in no event shall a
Participant be permitted to exercise an Option in a manner that the Committee determines would
violate the Sarbanes-Oxley Act of 2002, if applicable, or any other applicable law or the
applicable rules and regulations of the Securities and Exchange Commission or the applicable
rules and regulations of any securities exchange or inter-dealer quotation system on which the
securities of the Company are listed or traded.

     8. Stock Appreciation Rights.

     (a) Generally. Each SAR granted under the Plan shall be evidenced by an Award
agreement (whether in paper or electronic medium (including email or the posting on a web site
maintained by the Company or a third party under contract with the Company)). Each SAR so
granted shall be subject to the conditions set forth in this Section 8, and to such other
conditions not inconsistent with the Plan as may be reflected in the applicable Award
agreement. Any Option granted under the Plan may include tandem SARs. The Committee also may
award SARs to Eligible Persons independent of any Option.

     (b) Strike Price. The Strike Price per Common Share for each SAR shall not be
less than 100% of the Fair Market Value of such share determined as of the Date of Grant

     (c) Vesting and Expiration. A SAR granted in connection with an Option shall
become exercisable and shall expire according to the same vesting schedule and expiration
provisions as the corresponding Option. A SAR shall (i) vest and become exercisable in such
manner and on such date or dates, and (ii) expire after such period, not to exceed ten years
(the “SAR Period”), in each case as may be determined by the Committee and as set forth in an
Award agreement; provided, however, that notwithstanding any vesting dates set by the
Committee in the Award agreement, the Committee may, in its sole discretion, accelerate the
exercisability of any SAR, which acceleration shall not affect the terms and conditions of
such SAR other than with respect to exercisability. Unless otherwise provided by the Committee
in an Award agreement: (i) the unvested portion of a SAR shall expire upon termination of
employment or service of the Participant granted the SAR, and the vested portion of such SAR
shall remain exercisable for (A) one year following termination of employment or service by
reason of such Participant’s death or Disability, but not later than the expiration of the SAR
Period or (B) 90 days following termination of employment or service for any reason other than
such Participant’s death or Disability, and other than such Participant’s termination of
employment or service for Cause, but not later than the expiration of the SAR Period and (ii)
both the unvested and the vested portion of a SAR shall expire upon the termination of the
Participant’s employment or service by the Company for Cause.

     (d) Method of Exercise. SARs that have become exercisable may be exercised by
delivery of written or electronic notice of exercise to the Company in accordance with the
terms of the Award, specifying the number of SARs to be exercised and the date on which such
SARs were awarded. Notwithstanding the foregoing, if on the last day of the Option Period (or
in the case of a SAR independent of an Option, the SAR Period), the Fair Market Value of a
Common Shares exceeds the Strike Price, the Participant has not exercised the SAR or the
corresponding Option (if applicable), and neither the SAR nor the corresponding Option (if
applicable) has expired, such SAR shall be deemed to have been exercised by the Participant on
such last day and the Company shall make the appropriate payment therefor.

10

 

     (e) Payment. Upon the exercise of a SAR, the Company shall pay to the Participant
an amount equal to the number of shares subject to the SAR that are being exercised multiplied
by the excess, if any, of the Fair Market Value of a Common Share on the exercise date over
the Strike Price, less an amount equal to any federal, state, local and non-U.S. income and
employment taxes required to be withheld. The Company shall pay such amount in cash, in Common
Shares with a Fair Market Value equal to such amount, or any
combination thereof, as determined by the Committee in an Award agreement. Any fractional
Common Share shall be settled in cash.

     9. Restricted Stock and Restricted Stock Units.

     (a) Generally. Each grant of Restricted Stock and Restricted Stock Units shall be
evidenced by an Award agreement (whether in paper or electronic medium (including email or the
posting on a web site maintained by the Company or a third party under contract with the
Company)). Each such grant shall be subject to the conditions set forth in this Section 9, and
to such other conditions not inconsistent with the Plan as may be reflected in the applicable
Award agreement.

     (b) Restricted Stock — Accounts, Escrow or Similar Arrangement. Upon the grant
of Restricted Stock, a book entry in a restricted account shall be established in the
Participant’s name at the Company’s transfer agent and, if the Committee determines that the
Restricted Stock shall be held by the Company or in escrow rather than held in such restricted
account pending the release of the applicable restrictions, the Committee may require the
Participant to additionally execute and deliver to the Company (i) an escrow agreement
satisfactory to the Committee, if applicable, and (ii) the appropriate share power (endorsed
in blank) with respect to the Restricted Stock covered by such agreement. If a Participant
shall fail to execute an agreement evidencing an Award of Restricted Stock and, if applicable,
an escrow agreement and blank share power within the amount of time specified by the
Committee, the Award shall be null and void. Subject to the restrictions set forth in this
Section 9 and the applicable Award agreement, the Participant generally shall have the rights
and privileges of a shareholder as to such Restricted Stock, including without limitation the
right to vote such Restricted Stock and the right to receive dividends, if applicable. To the
extent shares of Restricted Stock are forfeited, any share certificates issued to the
Participant evidencing such shares shall be returned to the Company, and all rights of the
Participant to such shares and as a shareholder with respect thereto shall terminate without
further obligation on the part of the Company.

     (c) Vesting; Acceleration of Lapse of Restrictions. The Restricted Period shall
lapse with respect to an Award of Restricted Stock or Restricted Stock Units at such times as
provided by the Committee in an Award agreement, and the unvested portion of Restricted Stock
and Restricted Stock Units shall terminate and be forfeited upon termination of employment or
service of the Participant.

     (d) Delivery of Restricted Stock and Settlement of Restricted Stock Units.

     (i) Upon the expiration of the Restricted Period with respect to any shares of
Restricted Stock, the restrictions set forth in the applicable Award agreement shall be
of no further force or effect with respect to such shares, except as set forth in the
applicable Award agreement. If an escrow arrangement is used, upon such expiration, the
Company shall deliver to the Participant, or his beneficiary, without charge, the share
certificate evidencing the shares of Restricted Stock that have not then been forfeited
and with respect to which the Restricted Period has expired (rounded down to the nearest
full share). Dividends, if any, that may have been withheld by the Committee and
attributable to any particular share of Restricted Stock shall be distributed to the
Participant in cash or, at the sole discretion of the Committee, in Common Shares having
a Fair Market Value equal to the amount of such dividends, upon the release of
restrictions on such share and, if such share is forfeited, the Participant shall have no
right to such dividends (except as otherwise set forth by the Committee in the applicable
Award agreement).

11

 

     (ii) Unless otherwise provided by the Committee in an Award agreement, upon the
expiration of the Restricted Period with respect to any outstanding Restricted Stock
Units, the Company shall deliver to the Participant, or his beneficiary, without charge,
one Common Share for each such outstanding Restricted Stock Unit; provided,
however, that the Committee may, in its sole discretion, elect to (i) pay cash or
part cash and part Common Share in lieu of delivering only Common Shares in respect of
such Restricted Stock Units or (ii) defer the delivery of Common Shares (or cash or part
Common Shares and
part cash, as the case may be) beyond the expiration of the Restricted Period if
such delivery would result in a violation of applicable law until such time as is no
longer the case. If a cash payment is made in lieu of delivering Common Shares, the
amount of such payment shall be equal to the Fair Market Value of the Common Shares as of
the date on which the Restricted Period lapsed with respect to such Restricted Stock
Units, less an amount equal to any federal, state, local and non-U.S. income and
employment taxes required to be withheld.

     10. Stock Bonus Awards. The Committee may issue unrestricted Common Shares, or other Awards
denominated in Common Shares, under the Plan to Eligible Persons, either alone or in tandem with
other awards, in such amounts as the Committee shall from time to time in its sole discretion
determine. Each Stock Bonus Award granted under the Plan shall be evidenced by an Award agreement
(whether in paper or electronic medium (including email or the posting on a web site maintained by
the Company or a third party under contract with the Company)). Each Stock Bonus Award so granted
shall be subject to such conditions not inconsistent with the Plan as may be reflected in the
applicable Award agreement.

     11. Performance Compensation Awards.

     (a) Generally. The Committee shall have the authority, at the time of grant of
any Award described in Sections 9 or 10 of the Plan, to designate such Award as a Performance
Compensation Award intended to qualify as “performance- based compensation” under Section
162(m) of the Code. The maximum number of Common Shares subject to a Performance Compensation
Award granted to a Participant in any taxable year shall not exceed 1,000,000 Common Shares.
The Committee shall also have the authority to make an award of a cash bonus to any
Participant and designate such Award as a Performance Compensation Award intended to qualify
as “performance-based compensation” under Section 162(m) of the Code. The maximum cash bonus
payable to a Participant pursuant to a Performance Compensation Award shall not exceed $5
million in any calendar year.

     (b) Discretion of Committee with Respect to Performance Compensation Awards. With
regard to a particular Performance Period, the Committee shall have sole discretion to select
the length of such Performance Period, the type(s) of Performance Compensation Awards to be
issued, the Performance Criteria that will be used to establish the Performance Goal(s), the
kind(s) and/or level(s) of the Performance Goals(s) that is (are) to apply and the Performance
Formula. Within the first 90 days of a Performance Period (or, if longer or shorter, within
the maximum period allowed under Section 162(m) of the Code, if applicable), the Committee
shall, with regard to the Performance Compensation Awards to be issued for such Performance
Period, exercise its discretion with respect to each of the matters enumerated in the
immediately preceding sentence and record the same in writing.

     (c) Performance Criteria. The Performance Criteria that will be used to establish
the Performance Goal(s) shall be based on the attainment of specific levels of performance of
the Company (and/or one or more Affiliates, divisions, reportable segments or operational
units, or any combination of the foregoing) and shall include one or more of the following:
(i) net earnings or net income (before or after taxes); (ii) basic or diluted earnings per
share (before or after taxes); (iii) net revenue or revenue growth; (iv) gross profit or gross
profit growth; (v) operating income or profit (before or after taxes); (vi) return measures
(including, but not limited to, return on assets, capital, invested capital, equity, or
sales); (vii) cash flow (including, but not limited to, operating cash flow, free cash flow,
and cash flow return on capital); (viii) earnings before or after taxes, interest,
depreciation and/or amortization; (ix) gross or operating margins; (x) productivity ratios;
(xi) share price (including, but not limited to, growth measures and total

12

 

shareholder return); (xii) expense targets; (xiii) margins; (xiv) operating efficiency; (xv)
objective measures of customer satisfaction; (xvi) working capital targets; (xvii) measures of
economic value added; (xviii) inventory control; (xix) enterprise value; (xx) sales; (xxi)
debt levels and net debt; (xxii) combined ratio; (xxiii) timely launch of new facilities;
(xxiv) client retention; (xxv) employee retention; (xxvi) performance relative to budget;
(xxvii) safety performance targets and (xxviii) objective measures of personal targets, goals
or completion of projects. Any one or more of the Performance Criteria may be used on an
absolute or relative basis to measure the performance of a Participant and the Company (and/or
one or more Affiliates, divisions,
reportable segments or operational units, or any combination of the foregoing), as the
Committee may deem appropriate, or any of the above Performance Criteria may be compared to
the performance of a selected group of comparison companies or a published or special index
that the Committee, in its sole discretion, deems appropriate, or as compared to various stock
market indices. The Committee also has the authority to provide for accelerated vesting of any
Award based on the achievement of Performance Goals pursuant to the Performance Criteria
specified in this paragraph. To the extent required under Section 162(m) of the Code, the
Committee shall, within the first 90 days of a Performance Period (or, if longer or shorter,
within the maximum period allowed under Section 162(m) of the Code), define in an objective
fashion the manner of calculating the Performance Criteria it selects to use for such
Performance Period and thereafter promptly communicate such Performance Criteria to the
Participant.

     (d) Modification of Performance Goal(s). In the event that applicable tax and/or
securities laws change to permit Committee discretion to alter the governing Performance
Criteria without obtaining shareholder approval of such alterations, the Committee shall have
sole discretion to make such alterations without obtaining shareholder approval. The Committee
shall adjust or modify the calculation of a Performance Goal for a Performance Period, based
on and in order to appropriately reflect the following events: (i) asset write-downs; (ii)
litigation or claim judgments or settlements; (iii) the effect of changes in tax laws,
accounting principles, or other laws or regulatory rules affecting reported results; (iv) any
reorganization and restructuring programs; (v) extraordinary nonrecurring items as described
in Accounting Principles Board Opinion No. 30 (or any successor pronouncement thereto) and/or
in management’s discussion and analysis of financial condition and results of operations
appearing in the Company’s annual report to shareholders for the applicable year; (vi)
acquisitions or divestitures; (vii) any other specific unusual or nonrecurring events, or
objectively determinable category thereof; (viii) foreign exchange gains and losses; and (ix)
a change in the Company’s fiscal year.

     (e) Payment of Performance Compensation Awards.

     (i) Condition to Receipt of Payment. Unless otherwise provided in the
applicable Award agreement, a Participant must be employed by the Company or an Affiliate
of the Company on the date of payment with respect to a Performance Period to be eligible
to receive such payment in respect of a Performance Compensation Award for the preceding
Performance Period.

     (ii) Limitation. A Participant shall be eligible to receive payment in
respect of a Performance Compensation Award only to the extent that: (A) the Performance
Goals for such period are achieved; and (B) all or some of the portion of such
Participant’s Performance Compensation Award has been earned for the Performance Period
based on the application of the Performance Formula to such achieved Performance Goals.

     (iii) Certification. Following the completion of a Performance Period, the
Committee shall review and certify in writing whether, and to what extent, the
Performance Goals for the Performance Period have been achieved and, if so, calculate and
certify in writing that amount of the Performance Compensation Awards earned for the
period based upon the Performance Formula. The Committee shall then determine the amount
of each Participant’s Performance Compensation Award actually payable for the Performance
Period and, in so doing, may apply Negative Discretion.

13

 

     (iv) Use of Negative Discretion. In determining the actual amount of an
individual Participant’s Performance Compensation Award for a Performance Period, the
Committee may reduce or eliminate the amount of the Performance Compensation Award earned
under the Performance Formula in the Performance Period through the use of Negative
Discretion if, in its sole judgment, such reduction or elimination is appropriate. The
Committee shall not have the discretion, except as is otherwise provided in the Plan, to
(A) grant or provide payment in respect of Performance Compensation Awards for a
Performance Period if the Performance Goals for such Performance Period have not been
attained; or
(B) increase a Performance Compensation Award above the applicable limitations set
forth in Section 5 of the Plan.

     (f) Timing of Award Payments. Performance Compensation Awards granted for a
Performance Period shall be paid to Participants as soon as administratively practicable
following completion of the certifications required by this Section 11, but in no event later
than two-and-one-half months following the end of the fiscal year during which the Performance
Period is completed.

     12. Changes in Capital Structure and Similar Events.

     (a) Effect of Certain Events. In the event of (A) any dividend or other
distribution (whether in the form of cash, Common Shares, other securities or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, amalgamation,
consolidation, split-up, split-off, combination, repurchase or exchange of Common Shares or
other securities of the Company, issuance of warrants or other rights to acquire Common Shares
or other securities of the Company, or other similar corporate transaction or event
(including, without limitation, a Change in Control) that affects the Common Shares, or (B)
unusual or nonrecurring events (including, without limitation, a Change in Control) affecting
the Company, any Affiliate, or the financial statements of the Company or any Affiliate, or
changes in applicable rules, rulings, regulations or other requirements of any governmental
body or securities exchange or inter-dealer quotation system, accounting principles or law,
such that in either case an adjustment is determined by the Committee in its sole discretion
to be necessary or appropriate, then the Committee shall make any such adjustments in such
manner as it may deem equitable, including without limitation any or all of the following:

     (i) adjusting any or all of (A) the number of Common Shares or other securities of
the Company (or number and kind of other securities or other property) that may be
delivered in respect of Awards or with respect to which Awards may be granted under the
Plan (including, without limitation, adjusting any or all of the limitations under
Section 5 of the Plan) and (B) the terms of any outstanding Award, including, without
limitation, (1) the number of Common Shares or other securities of the Company (or number
and kind of other securities or other property) subject to outstanding Awards or to which
outstanding Awards relate, (2) the Exercise Price or Strike Price with respect to any
Award or (3) any applicable performance measures (including, without limitation,
Performance Criteria and Performance Goals);

     (ii) providing for a substitution or assumption of Awards, accelerating the
exercisability of, lapse of restrictions on, or termination of, Awards or providing for a
period of time for exercise prior to the occurrence of such event; and

     (iii) canceling any one or more outstanding Awards or portion thereof and causing to
be paid to the holders thereof, in cash, Common Shares, other securities or other
property, or any combination thereof, the value of such Awards, if any, as determined by
the Committee (which if applicable may be based upon the price per Common Share received
or to be received by other shareholders of the Company in such event), including without
limitation, in the case of an outstanding Option or SAR, a cash payment in an amount
equal to the excess, if any, of the Fair Market Value (as of a date specified by the
Committee) of the Common Shares subject to such Option or SAR over the aggregate Exercise
Price or Strike Price of such Option or SAR, respectively (it being understood that, in
such event, any Option or SAR having a per share Exercise Price or Strike Price equal to,
or in excess of, the Fair

14

 

Market Value of a Common Share subject thereto may be canceled and terminated without any
payment or consideration therefor); provided, however, that in the case
of any “equity restructuring” (within the meaning of the Financial Accounting Standards
Board Statement of Financial Accounting Standards No. 123 (Revised 2004)), the Committee
shall make an equitable or proportionate adjustment to outstanding Awards to reflect such
equity restructuring. Any adjustment in Incentive Stock Options under this Section 12
(other than any cancellation of Incentive Stock Options) shall be made only to the extent
not constituting a “modification” within the meaning of Section 424(h)(3) of the Code,
and any adjustments under this Section 12 shall be made in a manner that does not
adversely affect the
exemption provided pursuant to Rule 16b-3 under the Exchange Act. The Company shall give
each Participant notice of an adjustment hereunder and, upon notice, such adjustment
shall be conclusive and binding for all purposes.

     (b) Effect of Change in Control. Unless specifically provided otherwise with respect to
Change in Control events in an Award or in a then-effective written employment agreement
between the Participant and the Company or an Affiliate, if, during the effectiveness of the
Plan, a Change in Control occurs, (i) each Option and SAR which is at the time outstanding
under the Plan shall automatically become fully vested and exercisable and free from
restrictions immediately prior to the specified effective date of such Change in Control, for
all Common Shares at the time subject to such, (ii) the Restricted Period shall expire and
restrictions applicable to all outstanding Restricted Stock Awards and Restricted Stock Units
shall lapse and such Awards shall become fully vested and (iii) Performance Periods in effect
on the date the Change in Control occurs shall end on such date, and the Committee shall (A)
determine the extent to which Performance Goals with respect to each such Performance Period
have been met based upon such audited or unaudited financial information or other information
then available as it deems relevant and (B) cause the Participant to receive partial or full
payment of Awards for each such Performance Period based upon the Committee’s determination of
the degree of attainment of the Performance Goals, or assuming that the applicable “target”
levels of performance have been attained or on such other basis determined by the Committee.
To the extent practicable, any actions taken by the Committee under this Section 12(b) shall
occur in a manner and at a time which allows affected Participants the ability to participate
in the Change in Control transactions with respect to the Common Shares subject to their
Awards.

     13. Amendments and Termination.

     (a) Amendment and Termination of the Plan. The Board may amend, alter, suspend,
discontinue, or terminate the Plan or any portion thereof at any time; provided, that
(i) no amendment to Section 11(c) or Section 13(b) (to the extent required by the proviso in
such Section 13(b)) shall be made without shareholder approval and (ii) no such amendment,
alteration, suspension, discontinuation or termination shall be made without shareholder
approval if such approval is necessary to comply with any tax or regulatory requirement
applicable to the Plan (including, without limitation, as necessary to comply with any rules
or requirements of any securities exchange or inter-dealer quotation system on which the
Common Shares may be listed or quoted or to prevent the Company from being denied a tax
deduction under Section 162(m) of the Code); provided, further, that any such
amendment, alteration, suspension, discontinuance or termination that would materially and
adversely affect the rights of any Participant or any holder or beneficiary of any Award
theretofore granted shall not to that extent be effective without the consent of the affected
Participant, holder or beneficiary.

     (b) Amendment of Award Agreements. The Committee may, to the extent consistent
with the terms of any applicable Award agreement, waive any conditions or rights under, amend
any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore
granted or the associated Award agreement, prospectively or retroactively; provided
that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or
termination that would materially and adversely affect the rights of any Participant with
respect to any Award theretofore granted shall not to that extent be effective without the
consent of the affected Participant; provided, further, that without
shareholder approval, except as otherwise permitted under Section 12 of the Plan, (i) no
amendment or modification may reduce the

15

 

Exercise Price of any Option or the Strike Price of any SAR, (ii) the Committee may not cancel
any outstanding Option or SAR and replace it with a new Option or SAR, another Award or cash
and (iii) the Committee may not take any other action that is considered a “repricing” for
purposes of the shareholder approval rules of the applicable securities exchange or
inter-dealer quotation system on which the Common Shares are listed or quoted.

14. Restrictive Covenants.

     (a) Confidentiality. By accepting an Award under the Plan, and as a condition
thereof, each Participant agrees not to, at any time, either during their employment or
thereafter, divulge, use, publish or in any other manner reveal, directly or indirectly, to
any person, firm, corporation or any other form of business organization or arrangement, and
to keep in the strictest confidence any Confidential Information, except (i) as may be
necessary to the performance of the Participant’s duties to the Company, (ii) with the
Company’s express written consent, (iii) to the extent that any such information is in or
becomes in the public domain other than as a result of the Participant’s breach of any of his
or her obligations under this Section 14(a), or (iv) where required to be disclosed by court
order, subpoena or other government process and in such event, the Participant shall cooperate
with the Company in attempting to keep such information confidential to the maximum extent
possible. Upon the request of the Company or an Affiliate, the Participant agrees to promptly
deliver to the Company the originals and all copies, in whatever medium, of all such
Confidential Information.

     (b) Non-Disparagement. By accepting an Award under the Plan, and as a condition
thereof, the Participant acknowledges and agrees that he or she will not defame or publicly
criticize the services, business, integrity, veracity or personal or professional reputation
of the Company, including its officers, directors, partners, executives or agents, in either a
professional or personal manner at any time during or following his or her employment.

     (c) Post-Employment Property. By accepting an Award under the Plan, and as a
condition thereof, the Participant agrees that any work of authorship, invention, design,
discovery, development, technique, improvement, source code, hardware, device, data,
apparatus, practice, process, method or other work product whatever (whether patentable or
subject to copyright, or not, and hereinafter collectively called “discovery”) related to the
business of the Company that the Participant, either solely or in collaboration with others,
has made or may make, discover, invent, develop, perfect, or reduce to practice during his or
her employment, whether or not during regular business hours and created, conceived or
prepared on the Company’s premises or otherwise shall be the sole and complete property of the
Company. More particularly, and without limiting the foregoing, the Participant agrees that
all of the foregoing and any (i) inventions (whether patentable or not, and without regard to
whether any patent therefor is ever sought), (ii) marks, names, or logos (whether or not
registrable as trade or service marks, and without regard to whether registration therefor is
ever sought), (iii) works of authorship (without regard to whether any claim of copyright
therein is ever registered), and (iv) trade secrets, ideas, and concepts ((i) to (iv)
collectively, “Intellectual Property Products”) created, conceived, or prepared on the
Company’s premises or otherwise, whether or not during normal business hours, shall
perpetually and throughout the world be the exclusive property of the Company, as shall all
tangible media (including, but not limited to, papers, computer media of all types, and
models) in which such Intellectual Property Products shall be recorded or otherwise fixed. The
Participant further agrees promptly to disclose in writing and deliver to the Company all
Intellectual Property Products created during his or her engagement by the Company, whether or
not during normal business hours. The Participant agrees that all works of authorship created
by the Participant during his or her engagement by the Company shall be works made for hire of
which the Company is the author and owner of copyright. To the extent that any competent
decision-making authority should ever determine that any work of authorship created by the
Participant during his or her engagement by the Company is not a work made for hire, by
accepting an Award, the Participant assigns all right, title and interest in the copyright
therein, in perpetuity and throughout the world, to the Company. To the extent that this Plan
does not otherwise serve to grant or otherwise vest in the Company all rights in any Intellectual

16

 

Property Product created by the Participant during his or her engagement by the Company, by
accepting an Award, the Participant assigns all right, title and interest therein, in
perpetuity and throughout the world, to the Company. The Participant agrees to execute,
immediately upon the Company’s reasonable request and without charge, any further assignments,
applications, conveyances or other instruments, at any time, whether or not the Participant is
engaged by the Company at the time such request is made, in order to permit the Company and/or
its respective assigns to protect, perfect, register, record, maintain, or enhance their
rights in any Intellectual Property Product; provided, that, the Company shall
bear the cost of any such assignments,
applications or consequences. Upon termination of the Participant’s employment by the Company
for any reason whatsoever, and at any earlier time the Company so requests, the Participant
will immediately deliver to the custody of the person designated by the Company all originals
and copies of any documents and other property of the Company in the Participant’s possession,
under the Participant’s control or to which he or she may have access.

For purposes of this Section 14, the term “Company” shall include the Company and its
Affiliates.

15. General.

     (a) Award Agreements. Each Award under the Plan shall be evidenced by an Award
agreement, which shall be delivered to the Participant (whether in paper or electronic medium
(including email or the posting on a web site maintained by the Company or a third party under
contract with the Company)) and shall specify the terms and conditions of the Award and any
rules applicable thereto, including without limitation, the effect on such Award of the death,
Disability or termination of employment or service of a Participant, or of such other events
as may be determined by the Committee.

     (b) Nontransferability.

     (i) Each Award shall be exercisable only by a Participant during the Participant’s
lifetime, or, if permissible under applicable law, by the Participant’s legal guardian or
representative. No Award may be assigned, alienated, pledged, attached, sold or otherwise
transferred or encumbered by a Participant other than by will or by the laws of descent
and distribution and any such purported assignment, alienation, pledge, attachment, sale,
transfer or encumbrance shall be void and unenforceable against the Company or an
Affiliate; provided that the designation of a beneficiary shall not constitute an
assignment, alienation, pledge, attachment, sale, transfer or encumbrance.

     (ii) Notwithstanding the foregoing, the Committee may, in its sole discretion,
permit Awards (other than Incentive Stock Options) to be transferred by a Participant,
without consideration, subject to such rules as the Committee may adopt consistent with
any applicable Award agreement to preserve the purposes of the Plan, to: (A) any person
who is a “family member” of the Participant, as such term is used in the instructions to
Form S-8 under the Securities Act (collectively, the “Immediate Family Members”); (B) a
trust solely for the benefit of the Participant and his or her Immediate Family Members;
or (C) a partnership or limited liability company whose only partners or stockholders are
the Participant and his or her Immediate Family Members; or (D) any other transferee as
may be approved either (I) by the Board or the Committee in its sole discretion, or (II)
as provided in the applicable Award agreement (each transferee described in clauses (A),
(B) (C) and (D) above is hereinafter referred to as a “Permitted Transferee”);
provided, that the Participant gives the Committee advance written notice
describing the terms and conditions of the proposed transfer and the Committee notifies
the Participant in writing that such a transfer would comply with the requirements of the
Plan.

     (iii) The terms of any Award transferred in accordance with the immediately
preceding sentence shall apply to the Permitted Transferee, and any reference in the
Plan, or in any applicable Award agreement, to a Participant shall be deemed to refer to
the Permitted Transferee, except that (A) Permitted Transferees shall not be entitled to
transfer any Award, other than by will or the laws of descent and distribution; (B)
Permitted Transferees shall not be entitled to exercise any transferred

17

 

Option unless there shall be in effect a registration statement on an appropriate form
covering the Common Shares to be acquired pursuant to the exercise of such Option if the
Committee determines, consistent with any applicable Award agreement, that such a
registration statement is necessary or appropriate; (C) the Committee or the Company
shall not be required to provide any notice to a Permitted Transferee, whether or not
such notice is or would otherwise have been required to be given to the Participant under
the Plan or otherwise; and (D) the consequences of the termination of the Participant’s
employment by, or services to, the Company or an Affiliate under the terms of the Plan
and the applicable Award agreement shall continue to be applied with respect to the
Participant,
including, without limitation, that an Option shall be exercisable by the Permitted
Transferee only to the extent, and for the periods, specified in the Plan and the
applicable Award agreement.

     (c) Tax Withholding.

     (i) A Participant shall be required to pay to the Company or any Affiliate, and the
Company or any Affiliate shall have the right and is hereby authorized to withhold, from
any cash, Common Shares, other securities or other property deliverable under any Award
or from any compensation or other amounts owing to a Participant, the amount (in cash,
Common Shares, other securities or other property) of any required withholding taxes in
respect of an Award, its exercise, or any payment or transfer under an Award or under the
Plan and to take such other action as may be necessary in the opinion of the Committee or
the Company to satisfy all obligations for the payment of such withholding taxes.

     (ii) Without limiting the generality of clause (i) above, the Committee may, in its
sole discretion, permit a Participant to satisfy, in whole or in part, the foregoing
withholding liability by (A) the delivery of Common Shares (which are not subject to any
pledge or other security interest) owned by the Participant having a fair market value
equal to such withholding liability or (B) having the Company withhold from the number of
Common Shares otherwise issuable or deliverable pursuant to the exercise or settlement of
the Award a number of shares with a fair market value equal to such withholding liability
(but no more than the minimum required statutory withholding liability).

     (d) No Claim to Awards; No Rights to Continued Employment; Waiver. No employee of
the Company or an Affiliate, or other person, shall have any claim or right to be granted an
Award under the Plan or, having been selected for the grant of an Award, to be selected for a
grant of any other Award. There is no obligation for uniformity of treatment of Participants
or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee’s
determinations and interpretations with respect thereto need not be the same with respect to
each Participant and may be made selectively among Participants, whether or not such
Participants are similarly situated. Neither the Plan nor any action taken hereunder shall be
construed as giving any Participant any right to be retained in the employ or service of the
Company or an Affiliate, nor shall it be construed as giving any Participant any rights to
continued service on the Board. The Company or any of its Affiliates may at any time dismiss a
Participant from employment or discontinue any consulting relationship, free from any
liability or any claim under the Plan, unless otherwise expressly provided in the Plan or any
Award agreement. By accepting an Award under the Plan, a Participant shall thereby be deemed
to have waived any claim to continued exercise or vesting of an Award or to damages or
severance entitlement related to non-continuation of the Award beyond the period provided
under the Plan or any Award agreement, notwithstanding any provision to the contrary in any
written employment contract or other agreement between the Company and its Affiliates and the
Participant, whether any such agreement is executed before, on or after the Date of Grant.

     (e) International Participants. With respect to Participants who reside or work
outside of the United States of America and who are not (and who are not expected to be)
“covered employees” within the meaning of Section 162(m) of the Code, the Committee may in its
sole discretion amend the terms of the Plan or outstanding Awards with respect to such
Participants in order to conform such terms with the requirements of local law or to obtain
more favorable tax or other treatment for a Participant, the Company or its Affiliates.

18

 

     (f) Designation and Change of Beneficiary. Each Participant may file with the
Committee a written designation of one or more persons as the beneficiary(ies) who shall be
entitled to receive the amounts payable
with respect to an Award, if any, due under the Plan
upon his death. A Participant may, from time to time, revoke or change his beneficiary
designation without the consent of any prior beneficiary by filing a new designation with the
Committee. The last such designation received by the Committee shall be controlling;
provided, however, that no designation, or change or revocation thereof, shall
be effective unless received by the Committee prior to the Participant’s death, and in no
event shall it be effective as of a date prior to such receipt. If no beneficiary designation
is filed by a Participant, the beneficiary shall be deemed to be his or her spouse or, if the
Participant is unmarried at the time of death, his or her estate.

     (g) Termination of Employment/Service. Unless determined otherwise by the
Committee at any point following such event or as otherwise provided in an Award agreement,
service shall not be considered terminated in the case of (i) any approved leave of absence,
(ii) transfers among the Company, any Affiliate, or any successor, in any capacity of any
employee, director or consultant, or (iii) any change in status as long as the individual
remains in the service of the Company or an Affiliate in any capacity of employee, director or
consultant. An approved leave of absence shall include sick leave, military leave, or any
other authorized personal leave. For purposes of each Incentive Stock Option, if such leave
exceeds ninety (90) days, and re-employment upon expiration of such leave is not guaranteed by
statute or contract, then the Incentive Stock Option shall be treated as a Non-Qualified Stock
Option on the day that is three (3) months and one (1) day following the expiration of such
ninety (90)-day period.

     (h) No Rights as a Stockholder. Except as otherwise specifically provided in the
Plan or any Award agreement, no person shall be entitled to the privileges of ownership in
respect of Common Shares that are subject to Awards hereunder until such shares have been
issued or delivered to that person.

     (i) Government and Other Regulations.

     (i) The obligation of the Company to settle Awards in Common Shares or other
consideration shall be subject to all applicable laws, rules, and regulations, and to
such approvals by governmental agencies as may be required. Notwithstanding any terms or
conditions of any Award to the contrary, the Company shall be under no obligation to
offer to sell or to sell, and shall be prohibited from offering to sell or selling, any
Common Shares pursuant to an Award unless such shares have been properly registered for
sale pursuant to the Securities Act with the Securities and Exchange Commission or unless
the Company has received an opinion of counsel, satisfactory to the Company, that such
shares may be offered or sold without such registration pursuant to an available
exemption therefrom and the terms and conditions of such exemption have been fully
complied with. The Company shall be under no obligation to register for sale under the
Securities Act any of the Common Shares to be offered or sold under the Plan. The
Committee shall have the authority to provide that all certificates for Common Shares or
other securities of the Company or any Affiliate delivered under the Plan shall be
subject to such stop transfer orders and other restrictions as the Committee may deem
advisable under the Plan, the applicable Award agreement, the federal securities laws, or
the rules, regulations and other requirements of the Securities and Exchange Commission,
any securities exchange or inter-dealer quotation system upon which such shares or other
securities are then listed or quoted and any other applicable federal, state, local or
non-U.S. laws, and, without limiting the generality of Section 9 of the Plan, the
Committee may cause a legend or legends to be put on any such certificates to make
appropriate reference to such restrictions. Notwithstanding any provision in the Plan to
the contrary, the Committee reserves the right to add any additional terms or provisions
to any Award granted under the Plan that it in its sole discretion deems necessary or
advisable in order that such Award complies with the legal requirements of any
governmental entity to whose jurisdiction the Award is subject.

19

 

     (ii) The Committee may cancel an Award or any portion thereof if it determines, in
its sole discretion, that legal or contractual restrictions and/or blockage and/or other
market considerations would make the Company’s acquisition of Common Shares from the
public markets, the Company’s issuance of Common Shares to the Participant, the
Participant’s acquisition of Common Shares from the Company and/or the Participant’s sale
of Common Shares to the public markets, illegal, impracticable or inadvisable. If the
Committee determines to cancel all or any portion of an Award in accordance with the
foregoing, the Company shall pay to the Participant an amount equal to the excess of (A)
the aggregate Fair Market Value of the Common Shares subject to such Award or portion
thereof canceled
(determined as of the applicable exercise date, or the date that the shares would
have been vested or delivered, as applicable), over (B) the aggregate Exercise Price or
Strike Price (in the case of an Option or SAR, respectively) or any amount payable as a
condition of delivery of Common Shares (in the case of any other Award). Such amount
shall be delivered to the Participant as soon as practicable following the cancellation
of such Award or portion thereof.

     (iii) Notwithstanding any provision in this Plan to the contrary, any portion of an
Award under the Plan shall be subject to a clawback to the extent necessary to comply
with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act or
any Securities and Exchange Commission rule or applicable Company policy.

     (j) Payments to Persons Other Than Participants. If the Committee shall find that
any person to whom any amount is payable under the Plan is unable to care for his affairs
because of illness or accident, or is a minor, or has died, then any payment due to such
person or his estate (unless a prior claim therefor has been made by a duly appointed legal
representative) may, if the Committee so directs the Company, be paid to his spouse, child,
relative, an institution maintaining or having custody of such person, or any other person
deemed by the Committee to be a proper recipient on behalf of such person otherwise entitled
to payment. Any such payment shall be a complete discharge of the liability of the Committee
and the Company therefor.

     (k) Nonexclusivity of the Plan. Neither the adoption of this Plan by the Board
nor the submission of this Plan to the shareholders of the Company for approval shall be
construed as creating any limitations on the power of the Board to adopt such other incentive
arrangements as it may deem desirable, including, without limitation, the granting of stock
options or other equity-based awards otherwise than under this Plan, and such arrangements may
be either applicable generally or only in specific cases.

     (l) No Trust or Fund Created. Neither the Plan nor any Award shall create or be
construed to create a trust or separate fund of any kind or a fiduciary relationship between
the Company or any Affiliate, on the one hand, and a Participant or other person or entity, on
the other hand. No provision of the Plan or any Award shall require the Company, for the
purpose of satisfying any obligations under the Plan, to purchase assets or place any assets
in a trust or other entity to which contributions are made or otherwise to segregate any
assets, nor shall the Company maintain separate bank accounts, books, records or other
evidence of the existence of a segregated or separately maintained or administered fund for
such purposes. Participants shall have no rights under the Plan other than as unsecured
general creditors of the Company, except that insofar as they may have become entitled to
payment of additional compensation by performance of services, they shall have the same rights
as other employees under general law.

     (m) Reliance on Reports. Each member of the Committee and each member of the
Board shall be fully justified in acting or failing to act, as the case may be, and shall not
be liable for having so acted or failed to act in good faith, in reliance upon any report made
by the independent public accountant of the Company and its Affiliates and/or any other
information furnished in connection with the Plan by any agent of the Company or the Committee
or the Board, other than himself.

     (n) Relationship to Other Benefits. No payment under the Plan shall be taken into
account in determining any benefits under any pension, retirement, profit sharing, group
insurance or other benefit plan of the Company except as otherwise specifically provided in
such other plan.

20

 

     (o) Governing Law. The Plan shall be governed by and construed in accordance with
the internal laws of the State of Delaware, without giving effect to the conflict of laws
provisions thereof.

     (p) Severability. If any provision of the Plan or any Award or Award agreement is
or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to
any person or entity or Award, or would disqualify the Plan or any Award under any law deemed
applicable by the Committee, such provision shall be construed or deemed amended to conform to
the applicable laws, or if it cannot be construed or deemed amended without, in the
determination of the Committee, materially altering the intent of the Plan or
the Award, such provision shall be construed or deemed stricken as to such jurisdiction,
person or entity or Award and the remainder of the Plan and any such Award shall remain in
full force and effect.

     (q) Obligations Binding on Successors. The obligations of the Company under the
Plan shall be binding upon any successor corporation or organization resulting from the
merger, amalgamation, consolidation or other reorganization of the Company, or upon any
successor corporation or organization succeeding to substantially all of the assets and
business of the Company.

     (r) Code Section 162(m) Approval. If so determined by the Committee, the
provisions of the Plan regarding Performance Compensation Awards shall be disclosed and
reapproved by shareholders no later than the first shareholder meeting that occurs in the
fifth year following the year in which shareholders previously approved such provisions, in
each case in order for certain Awards granted after such time to be exempt from the deduction
limitations of Section 162(m) of the Code. Nothing in this clause, however, shall affect the
validity of Awards granted after such time if such shareholder approval has not been obtained.

     (s) Expenses; Gender; Titles and Headings. The expenses of administering the Plan
shall be borne by the Company and its Affiliates. Masculine pronouns and other words of
masculine gender shall refer to both men and women. The titles and headings of the sections in
the Plan are for convenience of reference only, and in the event of any conflict, the text of
the Plan, rather than such titles or headings shall control.

     (t) Other Agreements. Notwithstanding the above, the Committee may require, as a
condition to the grant of and/or the receipt of Common Shares under an Award, that the
Participant execute lock-up, shareholder or other agreements, as it may determine in its sole
and absolute discretion.

     (u) Payments. Participants shall be required to pay, to the extent required by
applicable law, any amounts required to receive Common Shares under any Award made under the
Plan.

     (v) Section 409A. The provisions of the Plan are intended to comply with the
provisions of Section 409A of the Code and the regulations thereunder so as to avoid the
imposition of an additional tax under Section 409A of the Code (a “409A Tax”). Notwithstanding
any provision of the Plan to the contrary, if any provision of the Plan or Award agreement
would result in the imposition of a 409A Tax, such provision shall be automatically reformed
so as to avoid the imposition of a 409A Tax and such reformation shall be deemed to not have
an adverse effect on a Participant’s rights with respect any Award.

* * *

As adopted by the Board of Directors of Quanta Services, Inc. on January 26, 2011.

As approved by the shareholders of Quanta Services, Inc. on May 19, 2011.

21Exhibit 4.1

Exhibit 4.1

 

GOLDCORP INC.

AMENDED AND RESTATED

2005 STOCK OPTION PLAN

ADOPTED
May 18, 2011

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE 1 GENERAL PROVISIONS
	 	 	1	 
	 
	 	 	 	 
	Section 1.1 Interpretation
	 	 	1	 
	Section 1.2 Purpose
	 	 	3	 
	Section 1.3 Administration
	 	 	3	 
	Section 1.4 Shares Reserved
	 	 	4	 
	Section 1.5 Limits with respect to Insiders
	 	 	4	 
	Section 1.6 Non-Exclusivity
	 	 	5	 
	Section 1.7 Amendment or Termination
	 	 	5	 
	Section 1.8 Compliance with Legislation
	 	 	6	 
	 
	 	 	 	 
	ARTICLE 2 OPTIONS
	 	 	7	 
	 
	 	 	 	 
	Section 2.1 Grants
	 	 	7	 
	Section 2.2 Option Exercise Price
	 	 	7	 
	Section 2.3 Exercise of Options
	 	 	7	 
	Section 2.4 Transfer of Options
	 	 	8	 
	Section 2.5 Termination or Death
	 	 	8	 
	 
	 	 	 	 
	ARTICLE 3 CHANGE OF CONTROL
	 	 	9	 
	 
	 	 	 	 
	Section 3.1 Change of Control
	 	 	9	 
	Section 3.2 Right to Terminate Options on Sale of Corporation
	 	 	10	 
	 
	 	 	 	 
	ARTICLE 4 MISCELLANEOUS PROVISIONS
	 	 	10	 
	 
	 	 	 	 
	Section 4.1 No Rights as Shareholder
	 	 	10	 
	Section 4.2 No Rights to Continued Employment
	 	 	10	 
	Section 4.3 Special Requirements for U.S. Participants
	 	 	10	 
	Section 4.4 Withholding Taxes
	 	 	11	 
	 
	 	 	 	 
	ARTICLE 5 ADOPTION
	 	 	12	 
	 
	 	 	 	 
	Section 5.1 Adoption
	 	 	12	 

 

 

ARTICLE 1

GENERAL PROVISIONS

Section 1.1 Interpretation

	(1)	 	For the purposes of the Plan, the following terms shall have the following meanings:
	 
	 	 	“Affiliate” means an affiliate of the Corporation within the meaning of Section 1.3 of
National Instrument 45-106 — Prospectus and Registration Exemptions, as may be amended or
replaced from time to time;
	 
	 	 	“Associate” has the meaning set out in Section 2.22 of National Instrument 45-106
-Prospectus and Registration Exemptions, as may be amended or replaced from time to time;
	 
	 	 	“Board” means the Board of Directors of the Corporation;
	 
	 	 	“Change of Control” means:

	 	(i)	 	a consolidation, reorganization, amalgamation, merger,
acquisition or other business combination (or a plan of arrangement in
connection with any of the foregoing), other than solely involving the
Corporation and any one or more of its Affiliates, with respect to which all or
substantially all of the persons who were the beneficial owners of the Shares
and other securities of the Corporation immediately prior to such
reorganization, amalgamation, merger, business combination or plan of
arrangement do not, following the completion of such consolidation,
reorganization, amalgamation, merger, acquisition, business combination or plan
of arrangement, beneficially own, directly or indirectly, more than 50% of the
resulting voting rights (on a fully-diluted basis) of the Corporation or its
successor;
	 
	 	(ii)	 	a resolution is adopted to wind-up, dissolve or liquidate the
Corporation;
	 
	 	(iii)	 	the sale, exchange or other disposition to a person other than
an Affiliate of the Corporation of all or substantially all of the
Corporation’s assets; or
	 
	 	(iv)	 	a change in the composition of the Board, which occurs at a
single meeting of the shareholders of the Corporation or upon the execution of
a shareholders’ resolution, such that individuals who are members of the Board
immediately prior to such meeting or resolution cease to constitute a majority
of the Board, without the Board, as constituted immediately prior to such
meeting or resolution, having approved of such change;

	 	 	“Corporation” means Goldcorp Inc. and includes any successor thereto;
	 
	 	 	“Eligible Person” means, subject to all applicable laws, (A) in respect of any grant of
Options by the Corporation any employee or officer of (i) the Corporation or (ii) any
Affiliate (and includes any such person who is on a leave of absence authorized by the Board
or the board of directors of any Affiliate), and (B) in respect of any assignment of Options
by a person in (A) above pursuant to Section 2.3(3), means any Permitted Assign of such
person as the context requires;

 

- 2 -

	 	 	“Exchange” means the Toronto Stock Exchange, the New York Stock Exchange or such other stock
exchange or quotation system on which the Shares are listed or quoted from time to time;

	 	 	“Exchange Rate” means the Canadian/United States dollar noon spot rate published by the Bank
of Canada on the date the Option is granted;
	 
	 	 	“Holding Entity” has the meaning set out in Section 2.22 of National Instrument 45-106 -
Prospectus and Registration Exemptions, as may be amended or replaced from time to time;
	 
	 	 	“Incentive Stock Option” or “ISO” means an Option granted to a U.S. Participant that is
intended to qualify as an “incentive stock option” within the meaning of section 422 of the
IRS Code;
	 
	 	 	“Insider” means: (i) an insider as defined in the Securities Act (Ontario) other than a
person who is an Insider solely by virtue of being a director or senior officer of an
Affiliate; and (ii) an Associate of any person who is an insider by virtue of (i);
	 
	 	 	“IRS Code” means the United States Internal Revenue Code of 1986, as amended and the
regulations and other guidance issued thereunder;
	 
	 	 	“Market Price” means the volume weighted average trading price of the Shares, calculated
by dividing the total value of Shares by the total volume of Shares traded on the TSX, or
another stock exchange where the majority of the trading volume and value of the Shares
occurs, for the five trading days immediately preceding the day the Option is granted;
	 
	 	 	“Non-Qualified Stock Option” or “NQSO” means any Option granted to a U.S. Participant that is
not an Incentive Stock Option;
	 
	 	 	“Option” means an option to purchase Shares granted to an Eligible Person pursuant to
the terms of the Plan;
	 
	 	 	“Participant” means an Eligible Person to whom an Option has been granted;
	 
	 	 	“Permitted Assign” means, for an employee or officer, as applicable:

	 	(i)	 	a Holding Entity of such employee or officer; or
	 
	 	(ii)	 	a RRSP, RRIF or TFSA of such employee or officer;

	 	 	“Plan” means this Amended and Restated 2005 Stock Option Plan of the Corporation, as it may
be amended from time to time;
	 
	 	 	“RRIF” means a registered retirement income fund as defined in the Income Tax Act (Canada);
	 
	 	 	“RRSP” means a registered retirement savings plan as defined in the Income Tax Act (Canada);
	 
	 	 	“Shares” means the common shares in the capital of the Corporation;
	 
	 	 	“Subsidiary” means a “subsidiary corporation”, whether now or hereafter existing, as defined
in section 424(f) of the IRS Code;

 

- 3 -

	 	 	“10% Shareholder” means a U.S. Participant who, at the time an Incentive Stock Option is
granted, owns stock representing more than 10% of the voting power of all classes of stock of
the Corporation or any Subsidiary, taking into account the attribution rules under section
424(d) of the IRS Code;
	 
	 	 	“Termination Date” means the date on which a Participant ceases to be an Eligible Person. In
the case of a notice of termination provided by the Corporation, such date shall be the date
of termination set out in the notice regardless of whether the Participant received
compensation in respect of dismissal or was entitled to a period of notice of termination
which would otherwise have permitted a greater portion of the Option to vest with the
Participant and, for all purposes of the Plan, a Participant’s employment shall conclusively
be deemed to have been terminated on the date of termination set forth in the notice of
termination (and for greater certainty shall not include any notice period required by any
applicable statute or common law);
	 
	 	 	“TFSA” means a tax-free savings account as described in the Income Tax Act (Canada); and
	 
	 	 	“U.S. Participant” means a Participant that is subject to federal income tax in the United
States of America pursuant to the IRS Code and any relevant tax convention.

	(2)	 	In the Plan, words imparting the singular number only shall include the plural and vice versa
and words imparting the masculine shall include the feminine.
	 
	(3)	 	The Plan and all matters to which reference is made herein shall be governed by and
interpreted in accordance with the laws of the Province of Ontario and the laws of Canada
applicable therein.

Section 1.2 Purpose

	 	 	The purpose of the Plan is to advance the interests of the Corporation by:

	 	(a)	 	providing Eligible Persons with additional incentive;
	 
	 	(b)	 	encouraging equity ownership by such Eligible Persons;
	 
	 	(c)	 	increasing the proprietary interest of Eligible Persons in the success of the
Corporation;
	 
	 	(d)	 	encouraging Eligible Persons to remain with the Corporation or its Affiliates;
and
	 
	 	(e)	 	attracting new employees and officers.

Section 1.3 Administration

	(1)	 	The Plan shall be administered by the Board or a committee of the Board duly appointed for
this purpose by the Board. If a committee is appointed for this purpose, all references herein
to the Board will be deemed to be references to the committee.
	 
	(2)	 	Subject to the limitations of the Plan, the Board shall have the authority to:

	 	(a)	 	grant Options;
	 
	 	(b)	 	determine the terms, limitations, restrictions and conditions respecting such
grants;

 

- 4 -

	 	(c)	 	interpret the Plan and adopt, amend and rescind such administrative
guidelines and other rules and regulations relating to the Plan as it shall from time to
time deem advisable subject to required prior approval by any applicable regulatory
authority and/or shareholders; and
	 
	 	(d)	 	make all other determinations and take all other actions in connection with the
implementation and administration of the Plan.

	(3)	 	The Board’s guidelines, rules, regulations, interpretations and determinations pursuant to or
relating to the Plan shall be conclusive and binding upon the Corporation and all other
persons, including without limitation all Participants. No member of the Board or any person
acting pursuant to the authority delegated by it hereunder shall be liable for any action or
determination in connection with the Plan made or taken in good faith.

Section 1.4 Shares Reserved

	(1)	 	The aggregate number of Shares available to be issued pursuant to the exercise of all Options
granted under the Plan shall be increased by 14,000,000 Shares to 46,500,000 Shares. No
fractional Shares shall be issued and the Board may determine the manner in which fractional
share values shall be treated. Any Shares subject to an Option which has been granted under
the Plan that have been cancelled or terminated in accordance with the Plan, without having
been exercised, will again be available to be granted under the Plan.
	 
	(2)	 	The maximum number of Shares which may be reserved for issuance to any one person under the
Plan shall be 5% of the Shares issued and outstanding at the time of the grant (on a
non-diluted basis) less the aggregate number of Shares reserved for issuance to such person
under any other security based compensation arrangements of the Corporation.
	 
	(3)	 	If there is a change in or substitution of or exchange of the outstanding Shares by reason of
any stock dividend or split, recapitalization, merger, amalgamation, arrangement,
consolidation, reorganization, combination or exchange of shares, or other corporate change,
the Board shall make, subject to the prior approval (if required) of the relevant stock
exchange(s), appropriate substitution or adjustment in:

	 	(a)	 	the number or kind of Shares or other securities reserved for issuance pursuant
to the Plan; and
	 
	 	(b)	 	the number or kind of Shares subject to unexercised Options granted and the
option exercise price of such Shares; provided however that no substitution or
adjustment shall obligate the Corporation to issue or sell fractional Shares.

	(4)	 	The Corporation shall at all times during the term of the Plan reserve and keep available
such number of Shares as will be sufficient to satisfy the requirements of the Plan.

Section 1.5 Limits with respect to Insiders

	(1)	 	The maximum number of Shares issuable to Insiders under the Plan and any other security based
compensation arrangements of the Corporation shall be 10% of the Shares issued and outstanding
at the time of the grant (on a non-diluted basis).

 

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	(2)	 	The maximum number of Shares which may be issued to Insiders under the Plan and any other
security based compensation arrangements of the Corporation within a 12 month period shall be
10% of the Shares, issued and outstanding at the time of the issuance (on a non-diluted
basis).

Section 1.6 Non-Exclusivity

        Nothing contained herein shall prevent the Board from adopting other or additional
compensation arrangements, subject to any required approvals.

Section 1.7 Amendment or Termination

	(1)	 	Subject to Section 1.7(2) below, the Board may at any time, and from time to time, and
without shareholder approval amend any provision of the Plan, or any Options granted
hereunder, or terminate the Plan, subject to any applicable regulatory or stock exchange
requirements or approvals at the time of such amendment or termination, including, without
limitation, making amendments:

	 	(a)	 	to Section 2.3 relating to the exercise of options;
	 
	 	(b)	 	deemed by the Board to be necessary or advisable because of any change in
applicable securities laws or other laws;
	 
	 	(c)	 	to the definitions set out in Section 1.1 other than as provided in Section
1.7(2)(c);
	 
	 	(d)	 	to the change of control provisions provided for in Section 3.1. For greater
certainty, any change made to Section 3.1 shall not allow Participants to be treated any
more favourably than other holders of Shares with respect to the consideration that the
Participants would be entitled to receive for their Shares upon a Change of Control;
	 
	 	(e)	 	to Section 1.3 relating to the administration of the Plan;
	 
	 	(f)	 	to the vesting provision of any outstanding Options as contemplated by the Plan;
and
	 
	 	(g)	 	fundamental or otherwise, not requiring shareholder approval under applicable
laws or the rules of the Exchange, including amendments of a “clerical” or
“housekeeping” nature and amendments to ensure that the Options granted under the Plan
will comply with any provisions respecting income tax and other laws in force in any
country or jurisdiction of which an Eligible Person may from time to time be resident or
a citizen.

	(2)	 	Notwithstanding Section 1.7(l), the Board shall not be permitted to amend:

	 	(a)	 	Section 1.4(1) in order to increase the maximum number of Shares which may be
issued under the Plan or Section 1.5 so as to increase the Insider participation limits;
	 
	 	(b)	 	Section 2.2 in any manner or this Section 1.7 so as to increase the ability of
the Board to amend the Plan without shareholder approval;
	 
	 	(c)	 	the definitions of “Eligible Person” and “Permitted Assign”;
	 
	 	(d)	 	Section 2.4 relating to the transferability of Options other than as permitted
under the Plan;

 

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	 	(e)	 	subject to Section 1.4(3), the exercise price of any Option issued under the Plan
where such amendment reduces the exercise price of such Option (for this purpose, a
cancellation or termination of an Option of a Participant prior to its expiry for the
purpose of re-issuing Options to the same Participant with a lower exercise price shall
be treated as an amendment to reduce the exercise price of an Option); or
	 
	 	(f)	 	the term of any Option issued under the Plan;

	 	 	in each case without first having obtained the approval of a majority of the holders of the
Shares voting at a duly called and held meeting of holders of Shares and, in the case of an
amendment to Section 1.5 so as to increase the Insider participation limits, approval of a
majority of the holders of the Shares voting at a duly called and held meeting of holders of
Shares excluding shares voted by Insiders who are Eligible Persons.
	 
	(3)	 	Any amendment or termination shall not materially and adversely alter the terms or conditions
of any Option or materially and adversely impair any right of any Participant under any Option
granted prior to the date of any such amendment or termination without the consent of such
Participant.
	 
	(4)	 	If the Plan is terminated, the provisions of the Plan and any administrative guidelines, and
other rules adopted by the Board and in force at such time, will continue in effect as long as
any Options under the Plan or any rights pursuant thereto remain outstanding. However,
notwithstanding the termination of the Plan, the Board may make any amendments to the Plan or
Options it would be entitled to make if the Plan were still in effect.

Section 1.8 Compliance with Legislation

        The Plan, the grant and exercise of Options hereunder and the Corporation’s obligation to sell
and deliver Shares upon exercise of Options shall be subject to all applicable federal, provincial
and foreign laws, rules and regulations, the rules and regulations of the Exchange and to such
approvals by any regulatory or governmental agency as may, in the opinion of counsel to the
Corporation, be required. The Board may postpone or adjust any exercise of any Option or the
issuance of any Shares pursuant to the Plan as the Board in its discretion may deem necessary in
order to permit the Corporation to effect or maintain registration of the Plan or the Shares
issuable pursuant thereto under the securities laws of any applicable jurisdiction, or to determine
that the Shares and the Plan are exempt from such registration. The Corporation shall not be
obligated by any provision of the Plan or the grant of any Option hereunder to issue Shares in
violation of such laws, rules and regulations or any condition of such approvals. In addition, the
Corporation shall have no obligation to issue any Shares pursuant to the Plan unless such Shares
shall have been duly listed with the Exchange. The Corporation shall, to the extent necessary, take
all reasonable steps to obtain such approvals, registrations and qualifications as may be necessary
for issuances of such Shares in compliance with applicable laws and for the admission to listing of
such Shares on the Exchange. Shares issued and sold to Participants may be subject to limitations
on sale or resale under applicable securities laws.

 

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ARTICLE 2

OPTIONS

Section 2.1 Grants

	(1)	 	Subject to the provisions of the Plan, the Board shall have the authority to determine the
terms, limitations, restrictions and conditions, if any, in addition to those set forth in
Section 2.3 hereof,
applicable to the exercise of an Option, including without limitation, the nature and
duration of the restrictions, if any, to be imposed upon the sale or other disposition of
Shares acquired upon exercise of the Option, and the nature of the events, if any, and the
duration of the period in which any Participant’s rights in respect of Shares acquired upon
exercise of an Option may be forfeited. An Eligible Person may receive Options on more than
one occasion under the Plan and may receive separate Options on any one occasion.
	 
	(2)	 	The award of an Option to an Eligible Person at any time shall neither entitle such Eligible
Person to receive nor preclude such Eligible Person from receiving a subsequent Option.
	 
	(3)	 	For greater certainty, the Board shall be permitted to grant Options only to an employee or
officer of (i) the Corporation or (ii) any Affiliate (and includes any such person who is on a
leave of absence authorized by the Board or the board of directors of any Affiliate), and
shall not be permitted to grant Options directly to any Permitted Assign.
	 
	(4)	 	Options may be granted so that they qualify as ISOs under section 422(d) of the IRS Code in
accordance with the requirements and limitations in Section 4.3 below.
	 
	(5)	 	Each Option shall be confirmed by an option agreement executed by the Corporation and by the
Participant to whom such Option is granted. Subject to specific variations approved by the
Board in respect of any Options, such variations not to be inconsistent with the provisions of
the Plan, all terms and conditions set out in the Plan will be incorporated by reference into
and form part of any Option granted under the Plan.

Section 2.2 Option Exercise Price

	(1)	 	The Board will establish the exercise price of an Option at the time each Option is granted
based on the terms set out under Section 2.2(2).
	 
	(2)	 	Subject to Section 4.3(d), the exercise price of an Option as established by the Board
pursuant to Section 2.2(1) will not be less than the Market Price.
	 
	(3)	 	For participants that are not a resident of Canada for the purposes of the Income Tax Act
(Canada) and any relevant tax convention, the exercise price of an Option shall be the amount
established by the Board pursuant to Section 2.2(2) multiplied by the Exchange Rate.

Section 2.3 Exercise of Options

	(1)	 	Options granted must be exercised no later than five years after the date of grant or such
lesser period as the Board may approve. In the event that any Option expires during, or
within 48 hours after a self-imposed blackout period on the trading of securities of the
Corporation, such expiry will become the tenth day following the end of the blackout period.
A minimum of 100 Shares must be purchased by a Participant upon exercise of Options at any one
time, except where the

 

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	 	 	remainder of Shares available for purchase pursuant to Options granted
to such Participant totals less than 100.

	(2)	 	The exercise price of each Option to purchase Shares shall be paid in full by certified
cheque, or in another manner deemed acceptable to the Corporation, at the time of such
exercise, and upon receipt of payment in full, but subject to the terms of the Plan and the
related option agreement, the number of Shares in respect of which the Option is exercised
shall be duly issued as fully paid and non-assessable.
	 
	(3)	 	Subject to the provisions of the Plan and the related option agreement, an Option may be
exercised from time to time by delivery to the Corporate Secretary of the Corporation at its
head office at Suite 3400 — 666 Burrard Street, Vancouver, British Columbia V6C 2X8 a
completed and signed Notice of Exercise in the form attached to the agreement evidencing the
grant of options, and accompanied by payment in full of the Option exercise price of the
Shares to be purchased. Certificates for such Shares shall be issued and delivered to the
Participant within a reasonable period of time following the receipt of such notice and
payment but in any event not exceeding five business days.

Section 2.4 Transfer of Options

	(1)	 	Subject to Section 2.4(2), Options shall be non-assignable and non-transferable by the
Participants otherwise than by will or the laws of descent and distribution, and shall be
exercisable only by the Participant during the lifetime of the Participant and only by the
Participant’s legal representative after death of the Participant (subject to the limitation
that Options may be not be exercised later than five years from their date of grant).
	 
	(2)	 	Notwithstanding Section 2.4(1), Options may be assigned by an Eligible Person to whom an
Option has been granted to a Permitted Assign of such Eligible Person, following which such
Options shall be non-assignable and non-transferable by such Permitted Assign, except to
another Permitted Assign, otherwise than by will or the laws of descent and distribution, and
shall be exercisable only by such Permitted Assign during the lifetime of such Permitted
Assign and only by such Permitted Assign’s legal representative after death of such Permitted
Assign (subject to the limitation that Options may not be exercised later than five years from
their date of grant). Notwithstanding the foregoing, an ISO may not be transferred or
assigned in any manner other than (i) by will or the laws of descent and distribution or (ii)
pursuant to a qualified domestic relations order (as described in the IRS Code). An improper
transfer of any Options will not create any rights in the purported transferee, will cause the
immediate termination of the Options, and the Corporation will not issue any Shares upon the
attempted exercise of improperly transferred Options.

Section 2.5 Termination or Death

	(1)	 	Except as otherwise determined by the Board and subject to the limitation that Options may
not be exercised later than five years from their date of grant:

	 	(a)	 	if a Participant ceases to be an Eligible Person for any reason whatsoever other
than death, each Option held by the Participant will cease to be exercisable 30 days
after the Termination Date, or such longer period as determined by the Board. If any
portion of an Option is not vested by the Termination Date, that portion of the Option
may not be exercised by the Participant unless the Board determines otherwise. For
greater certainty,

 

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	 	 	 	any such determination regarding the period for exercise or vesting
of options made by the Board may be made at any time subsequent to the date of grant of
Options, provided, however, that the Board may not extend the period for exercise beyond
the expiry date of the Option. If a Participant ceases to be an Eligible Person because
his relationship with the Corporation or an Affiliate is terminated by the Corporation
or the Affiliate, as applicable, for cause, such Participant’s Options shall cease to be
exercisable immediately upon the Termination Date.
	 
	 	(b)	 	if a Participant dies, the legal representative of the Participant may exercise
the Participant’s Options within a period of the earlier of (i) the expiry date of such
Option;
and (ii) 12 months after the date of the Participant’s death, but only to the extent
the Options were by their term exercisable on the date of death unless otherwise
determined by the Board.
	 
	 	(c)	 	notwithstanding the foregoing, except in the case of a U.S. Participant’s death
or disability (as defined in section 22(e)(3) of the IRS Code), an ISO that is exercised
after the date that is three months following the U.S. Participant’s termination of
employment with the Corporation and all Subsidiaries will be treated as an NQSO to the
extent required under sections 422 and 424 of the IRS Code. In the case of a
termination of employment due to a U.S. Participant’s disability (as defined in section
22(e)(3) of the IRS Code), an ISO that is exercised after the date that is 12 months
following the U.S. Participant’s termination of employment shall be treated as an NQSO
to the extent required under sections 422 and 424 of the IRS Code.

	(2)	 	Any Participant to whom an Option is granted under the Plan who subsequently ceases to hold
the position in which he or she received such Option shall continue to be eligible to hold
such Option as a Participant as long as he or she otherwise falls within the definition of
“Eligible Person” in any capacity.

ARTICLE 3

CHANGE OF CONTROL

Section 3.1 Change of Control

	(1)	 	In the event of a proposed Change of Control (as determined by the Board), the Board may, in
its discretion, conditionally or otherwise and on such terms as it sees fit, accelerate the
vesting of all of a Participant’s unvested Options to a date determined by the Board, such
that all of a Participant’s Options will immediately vest at such time. In such event, all
Options so vested will be exercisable, conditionally or otherwise, from such date until their
respective expiry dates so as to permit the Participant to participate in such Change of
Control. For greater certainty, upon a Change of Control, Participants shall not be treated
any more favourably than holders of Shares with respect to the consideration that the
Participants would be entitled to receive for their Shares.
	 
	(2)	 	If the Participant elects to exercise its Options following a Change of Control, the Optionee
shall be entitled to receive, and shall accept, in lieu of the number of Shares which he was
entitled upon such exercise, the kind and amount of shares and other securities, property or
cash which such holder could have been entitled to receive as a result of such Change of
Control, on the effective date thereof, had he been the registered holder of the number of
Shares to which he was entitled to purchase upon exercise of such Options.

 

- 10 -

Section 3.2 Right to Terminate Options on Sale of Corporation

        Notwithstanding any other provision of the Plan, if the Board at any time by resolution
declares it advisable to do so in connection with any proposed sale or conveyance of all or
substantially all of the property and assets of the Corporation or any proposed merger,
consolidation, amalgamation or offer to acquire all of the outstanding Shares (collectively, the
“Proposed Transaction”), the Corporation may give written notice to all Participants advising them
that, within 30 days after the date of the notice and not thereafter, each Participant must advise
the Board whether the Participant desires to exercise its Options prior to the closing of the
Proposed Transaction, and that upon the failure of a Participant to provide such notice within the
30-day period, all rights of the Participant will terminate, provided that the Proposed Transaction
is completed within 180 days after the date of the notice. If the Proposed Transaction is not
completed within the 180-day period, no right under any Option will be exercised or affected
by the notice, except that the Option may not be exercised between the date of expiration of the
30-day period and the day after the expiration of the 180-day period, or if earlier, the date the
Proposed Transaction is terminated without completion. If a Participant gives notice that the
Participant desires to exercise its Options prior to the closing of the Proposed Transaction, then
all Options which the Participant elected by notice to exercise will be exercised immediately prior
to the effective date of the Proposed Transaction or such earlier time as may be required to
complete the Proposed Transaction.

ARTICLE 4

MISCELLANEOUS PROVISIONS

Section 4.1 No Rights as Shareholder

        The holder of an Option shall not have any rights as a holder of Shares with respect to any of
the Shares underlying an Option until such holder shall have exercised such Option in accordance
with the terms of the Plan (including tendering payment in full of the exercise price in respect of
which the Option is being exercised).

Section 4.2 No Rights to Continued Employment

        Nothing in the Plan or any Option shall confer upon a Participant any right to continue in the
employment or engagement of the Corporation or any Affiliate or affect in any way the right of the
Corporation or any Affiliate to terminate his employment or engagement at any time; nor shall
anything in the Plan or any Option be deemed or construed to constitute an agreement, or an
expression of intent, on the part of the Corporation or any Affiliate to extend the employment or
engagement of any Participant beyond the date on which he would normally be retired pursuant to the
provisions of any present or future retirement plan of the Corporation or any Affiliate, or beyond
the date on which his relationship with the Corporation or any Affiliate would otherwise be
terminated pursuant to the provisions of any employment, consulting or other contract for services
with the Corporation or any Affiliate.

Section 4.3 Special Requirements for U.S. Participants

	 	(a)	 	Notwithstanding any other provision of the Plan to the contrary, the aggregate
number of Shares available for ISOs is 46,500,000, subject to adjustment pursuant to
Section 1.4 of the Plan and subject to the provisions of sections 422 and 424 of the IRS
Code.
	 
	 	(b)	 	Each option agreement shall specify whether the related Option is an ISO or a
NQSO. If no such specification is made, the related Option will be a NQSO.

 

- 11 -

	 	(c)	 	An ISO shall be treated as a NQSO to the extent that the aggregate Market Price
(determined as of the applicable grant date) with respect to which ISOs are exercisable
by the U.S. Participant for the first time during any calendar year (pursuant to the
Plan and all other plans of the Corporation and of any Affiliate for purposes of section
422 of the IRS Code) will exceed U.S.$100,000 or any other limitation subsequently set
forth in section 422(d) of the IRS Code.
	 
	 	(d)	 	The exercise price per Share of an ISO granted to a 10% Shareholder will be not
less than 110% of the Market Price on the applicable grant date.
	 
	 	(e)	 	An ISO may only be granted within the 10-year period beginning from the earlier
of the date the Plan is adopted by the Board or the date the Plan is approved by
shareholders of the Corporation.
	 
	 	(f)	 	If the Board determines to extend the exercise period of an ISO pursuant to its
authority under Section 2.3 above or to make any other revision to the terms of an ISO,
such Option shall thereafter be treated as a NQSO to the extent required under sections
422 and 424 of the IRS Code. Notwithstanding any provision in the Plan to the contrary,
any revision to the terms of an Option (whether an ISO or NQSO) granted to a U.S.
Participant shall be made only if it does not create adverse tax consequences under
section 409A of the IRS Code.

Section 4.4 Withholding Taxes

        The exercise of each Option granted under the Plan is subject to the condition that if at any
time the Corporation determines, in its discretion, that the satisfaction of withholding tax or
other withholding liabilities is necessary or desirable in respect of such exercise, such exercise
is not effective unless such withholding has been effected to the satisfaction of the Corporation.
In such circumstances, the Corporation may require that a Participant pay to the Corporation, in
addition to and in the same manner as the exercise price for the Shares, such amount as the
Corporation is obliged to remit to the relevant taxing authority in respect of the exercise of the
Option or, alternatively, the Corporation shall have the right in its discretion to satisfy any
such liability for withholding or other required deduction amounts by retaining or acquiring any
Shares acquired upon exercise of any Option, or retaining any amount payable, which would otherwise
be issued or delivered, provided or paid to a Participant by the Corporation, whether or not such
amounts are payable under the Plan.

Section 4.5 Conformity with Existing Employment Agreements

        Notwithstanding any other provision of this Plan, to the extent that the provisions of this
Plan conflict with the terms of any employment agreement between a Participant and the Corporation
that is effective prior to the date of adoption of the Plan, the provisions of such employment
contract shall control the rights of the Participant with respect to Options granted under this
Plan.

 

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ARTICLE 5

ADOPTION

Section 5.1 Adoption

        The Plan was approved by the shareholders of the Corporation on May 15, 2005, as amended and
approved by the shareholders of the Corporation on (a) May 2, 2007, (b) May 20, 2008, and (c) May
18, 2011.

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