Document:

Exhibit 4.4

    

   

    

  
    
      LIGHTSPEED POS INC.

       

      Amended and Restated 2012 Stock Option Plan

       

      Effective as of March 15, 2019

         

       

        

      
        
          

      

      
      LIGHTSPEED POS INC.

       

      Amended and Restated 2012 Stock Option Plan

       

      ARTICLE 1

      PURPOSE

       

      	Section 1.1	
              Purpose

            

       

      The purpose of this Plan is to assist the Company in attracting, retaining and motivating key employees, officers and directors by granting to them, and to others providing services to the Company,
        options to purchase subordinate voting shares in the capital of the Company.

       

      ARTICLE 2

    

    
      INTERPRETATION 

       

        

      	Section 2.1	
              Definitions

            

       

      When used in this Plan, the following words and terms have the meanings set out below:

       

      “Affiliate” means an affiliate of the Company and has the meaning given to it in NI 45-106 (as defined below).

       

      “Associate” has the meaning given to it in NI 45-106.

       

      “Black-Out Period” means a period of time when pursuant to any policies of the Company (including the Company’s insider trading policy), any
        securities of the Company may not be traded by certain Persons designated by the Company.

       

      “Board” means the board of directors of the Company.

       

      “Business Day” means a day other than a Saturday, Sunday or statutory holiday, when banks are generally open for business in Montréal,
        Québec for the transaction of banking business.

       

      “CBCA” means the Canada Business Corporations Act and
        the regulations under it, both as amended from time to time.

       

      “Change of Control” has the meaning given to it in Section 4.9(b).

       

      “Code” has the meaning given in Section 4.11.

       

      “Committee” has the meaning given to it in Section 3.2.

       

      “Company” means Lightspeed POS Inc.

       

      “Consultant Participant” means a person, other than an Employee Participant or an Executive Participant, that:

       

      	

            	(a)	
              is engaged to provide services to the Company or an Affiliate;

            

      

      

      
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            	(b)	
              provides the services under a written contract with the Company or an Affiliate; and

            

       

      	

            	(c)	
              spends or will spend a significant amount of time and attention on the affairs and business of the Company or an Affiliate,

            

       

      and includes:

       

      	

            	(i)	
              for an individual consultant, a corporation of which the individual consultant is an employee or shareholder, and a partnership of which the individual consultant is an employee or partner; and

            

       

      	

            	(ii)	
              the consultant’s Permitted Assigns.

            

       

      “Date of Grant” means, for any Option, the date specified by the Board at the time it grants the Option or, if no such date is specified,
        the date upon which the Option was granted.

       

      “Director” means a member of the board of directors of the Company or an Affiliate.

       

      “Disabled” or “Disability” means the permanent and total incapacity of an Optionee as determined in
        accordance with procedures established by the Board for purposes of this Plan in accordance with applicable law.

       

      “Disqualifying Disposition” has the meaning given in Section 4.11(f).

       

      “Effective Date” means March 15, 2019.

       

      “Employee Participant” means a current full-time or part-time employee or contract employee (other than an Executive Participant or
        Consultant Participant) of the Company or an Affiliate and includes such employee’s Permitted Assigns.

       

      “Executive Participant” means a Director or an officer of the Company or an Affiliate and includes such Director’s or officer’s Permitted
        Assigns.

       

      “Exercise Notice” means a notice in writing, in the form set out in Schedule A, signed by an Optionee and stating the Optionee’s intention
        to exercise a particular Option.

       

      “Exercise Period” means the period of time during which an Option granted under this Plan may be exercised, subject to an extension pursuant
        to Section 4.3(b) resulting from a Black-Out Period.

       

      “Exercise Price” means the price at which a Subordinate Voting Share may be purchased pursuant to the exercise of an Option.

       

      “Individual Optionee” means an Optionee who is an individual or the individual of which the Optionee is a Permitted Assign, as the case may
        be.

       

      “Insider” means a “reporting insider” as defined in National Instrument 55-104 –Insider Reporting
          Requirements and Exemptions and includes Associates and affiliates (as such term is defined in Part 1 of the TSX Company Manual) of such “reporting insider”.

       

      “ISOs” has the meaning given in Section 4.11.

      

      

      
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      “Market Value” means at any date when the market value of Subordinate Voting Shares is to be determined, (i) if the Subordinate Voting
        Shares are listed on the TSX, the VWAP on the TSX for the five (5) trading days immediately preceding such date; (ii) if the Subordinate Voting Shares are not listed on the TSX, then as calculated in paragraph (i) by reference to the price on any
        other stock exchange on which the Subordinate Voting Shares are listed (if more than one, then using the exchange on which a majority of Subordinate Voting Shares are listed); or (iii) if the Subordinate Voting Shares are not listed on any stock
        exchange, the value as is determined solely by the Board, acting reasonably and in good faith and such determination shall be conclusive and binding on all Persons.

       

      “Multiple Voting Shares” means the multiple voting shares in the capital of the Company.

       

      “NI 45-106” means National Instrument 45-106 – Prospectus Exemptions of the Canadian Securities
        Administrators, as amended from time to time.

       

      “Option” means a right to purchase Subordinate Voting Shares under this Plan.

       

      “Option Agreement” means a signed, written agreement between an Optionee and the Company, evidencing the terms and conditions on which an
        Option has been granted under this Plan.

       

       “Optionee” means an Employee Participant, Executive Participant or Consultant Participant who has been granted one or more Options.

       

      “Participant” means an Employee Participant, Executive Participant or Consultant Participant.

       

      “Permitted Assign” has the meaning given to it in NI 45-106.

       

      “Person” includes an individual, sole proprietorship, partnership, unincorporated association, unincorporated syndicate, unincorporated
        organization, trust, body corporate, and a natural person in his or her capacity as trustee, executor, administrator or other legal representative.

       

      “Plan” means this amended and restated 2012 stock option plan, as same may be further amended or amended and restated from time to time.

       

      “Related Corporations” has the meaning given in Section 4.11(a).

       

      “Share Compensation Arrangement” means a stock option, stock option plan, employee stock purchase plan, long-term incentive plan or any
        other compensation or incentive mechanism involving the issuance or potential issuance of Subordinate Voting Shares to one or more full-time employees, directors, officers, Insiders, or consultants of the Company or a subsidiary of the Company,
        including a Subordinate Voting Share purchase from treasury by a full-time employee, director, officer, Insider, or consultant which is financially assisted by the Company or a subsidiary of the Company, by way of a loan, guarantee or otherwise.

       

      “Subordinate Voting Shares” means the subordinate voting shares in the capital of the Company. “Company” means Lightspeed POS Inc.

       

      “Termination Date” has the meaning given as follows:

       

      	

            	(a)	
              In the case of an Employee Participant or Executive Participant, “Termination Date” means the date designated by the Company or an Affiliate as the last day of the Individual Optionee’s employment
                or term of office with the Company or the Affiliate. “Termination Date” specifically does not mean the date on which any statutory notice or reasonable notice period that the Company or the Affiliate
                may be required to provide at law expires or any period of deemed employment; and

            

      

      

      
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            	(b)	
              In the case of a Consultant Participant, “Termination Date” means the date that is designated by the Company or the Affiliate, as applicable, as the date on which the Consultant Participant’s
                consulting agreement or arrangement is terminated. “Termination Date” specifically does not mean the date on which any reasonable notice period that the Company or the Affiliate may be required to
                provide under the terms of the consulting agreement or arrangement expires or any period of deemed services.

            

       

      “TSX” means the Toronto Stock Exchange.

       

      “VWAP” means the volume weighted average trading price of the Subordinate Voting Shares, calculated
        by dividing the total value by the total volume of Subordinate Voting traded for the relevant period.

       

      	Section 2.2	
              Interpretation

            

       

      	

            	(a)	
              Whenever the Board or, where applicable, the Committee is to exercise discretion in the administration of the terms and conditions of this Plan, the term “discretion” means the sole and absolute discretion of the Board or the Committee,
                as the case may be.

            

       

      	

            	(b)	
              As used in this Plan, the terms “Article” and “Section” mean and refer to the specified Article or Section of this Plan.

            

       

      	

            	(c)	
              Words importing the singular include the plural and vice versa and words importing gender include any other gender.

            

       

      	

            	(d)	
              Unless otherwise specified, all references to money amounts are to Canadian currency.

            

       

      ARTICLE 3

      ADMINISTRATION

       

      	Section 3.1	
              Administration

            

       

      Subject to Section 3.2, this Plan will be administered by the Board, and the Board has sole and complete authority, in its discretion:

       

      	

            	(a)	
              [RESERVED];

            

       

      	

            	(b)	
              [RESERVED];

            

       

      	

            	(i)	
              [RESERVED];

            

       

      	

            	(ii)	
              [RESERVED];

            

      

      

      
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            	(iii)	
              [RESERVED];

            

       

      	

            	(iv)	
              [RESERVED];

            

       

      	

            	(v)	
              any acceleration of exercisability or waiver of termination regarding any Option;

            

       

      	

            	(c)	
              to interpret this Plan; and

            

       

      	

            	(d)	
              to make all other determinations and take all other actions necessary or advisable for the implementation and administration of this Plan.

            

       

      The Board’s determinations and actions within its authority under this Plan are conclusive and binding on the Company and all other Persons.

       

      	Section 3.2	
              Delegation to Committee

            

       

      The Board may, from time to time, delegate to a committee (the “Committee”) of the Board all or any of the powers conferred on the Board under the Plan. Any
        decision made or action taken by the Committee arising out of or in connection with the administration or interpretation of this Plan in this context is final and conclusive.

       

      	Section 3.3	
              Eligibility

            

       

      All Participants are eligible to participate in the Plan, subject to the terms hereof. No additional Options shall be granted under this Plan as of the Effective Date or following the Effective Date,
        but Options granted prior to the Effective Date and that are outstanding on the Effective Date shall continue in accordance with their terms.

       

      	Section 3.4	
              Total Subordinate Voting Shares Subject to Options

            

       

      The maximum number of Subordinate Voting Shares issuable under this Plan is 5,408,800 Subordinate Voting Shares, which represents the Subordinate Voting Shares issuable upon exercise of Options
        outstanding as of the Effective Date. At all times, the Company will reserve and keep available a sufficient number of Subordinate Voting Shares to satisfy the requirements of all outstanding Options granted prior to the Effective Date under the
        Plan.

       

      	Section 3.5	
              Limits with Respect to Insiders

            

       

      	

            	(a)	
              The maximum number of Subordinate Voting Shares issuable from treasury to Participants who are Insiders, at any time, under this Plan and any other proposed or established Share Compensation Arrangement, shall not exceed ten percent
                (10%) of the Subordinate Voting Shares and Multiple Voting Shares issued and outstanding from time to time (calculated on a non diluted basis).

            

       

      	

            	(b)	
              The maximum number of Subordinate Voting Shares issued from treasury to Participants who are Insiders, within any one-year period, under this Plan and any other proposed or established Share Compensation Arrangement, shall not exceed ten
                percent (10%) of the Subordinate Voting Shares and Multiple Voting Shares issued and outstanding from time to time (calculated on a non-diluted basis).

            

      

      

      
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            	(c)	
              Any Option granted pursuant to the Plan, or securities issued under any other Share Compensation Arrangement, prior to a Participant becoming an Insider, shall be excluded from the purposes of the limits set out in Section 3.5(a) and
                Section 3.5(b).

            

       

      	Section 3.6	
              Option Agreements

            

       

      Each grant of Options under this Plan will be evidenced by an Option Agreement.

       

      	Section 3.7	
              Non-transferability

            

       

      Subject to Section 4.6, an Optionee may not transfer any Options, or any rights in connection with such Options, to any Person except a Permitted Assign. No purported transfer of
        Options other than to a Permitted Assign, whether voluntary, involuntary, by operation of law or otherwise, vests any interest or right in such Options in any transferee, and immediately upon any transfer, or any attempt to make a transfer, such
        Options will terminate. If any Optionee transfers Options to Permitted Assign, such Options terminate if the transferee is no longer a Permitted Assign.

      

         

      ARTICLE 4

      GRANT OF OPTIONS

       

      	Section 4.1	
              Grant of Options

            

       

      No additional Options shall be granted under this Plan as of the Effective Date and following the Effective Date.

       

      	Section 4.2	
              Exercise Price

            

       

      The Exercise Price will be as determined by the Board, but may not be less than the Market Value of the Subordinate Voting Shares on the day prior to the Date of Grant, or, in the case of ISOs, the
        fair market value on the Date of Grant and, in the case of Options granted as contemplated by Section 4.11(d), 110% of the fair market value on the Date of Grant.

       

      	Section 4.3	
              Term of Options

            

       

      	

            	(a)	
              Subject to any accelerated termination as set forth in this Plan, each Option, unless otherwise specified by the Board, expires on the seventh anniversary of the Date of Grant, however, the Exercise Period of an Option may not exceed 10
                years from its Date of Grant, subject to an extension pursuant to Section 4.3(b) resulting from a Black-Out Period.

            

       

      	

            	(b)	
              Notwithstanding any other provision of this Plan, should the expiration date for an Option fall within a Black-Out Period, such expiration date shall be automatically extended without any further act or formality to that date which is
                the tenth (10th) Business Day after the end of the Black-Out Period, such tenth (10th) Business Day to be considered the expiration date for such Option for all purposes under the Plan. Notwithstanding Section 6.4
                hereof, the ten (10) Business Day period referred to in this Section 4.3(b) may not be extended by the Board.

            

      

      

      
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      	Section 4.4	
              Exercise Period

            

       

      Unless otherwise specified by the Board at the time of granting an Option and except as otherwise provided in this Plan, each Option will vest and be exercisable as follows:

       

      	
              Percentage of Total Number of

               Subordinate Voting Shares that

               may be Purchased

            	
              Exercise Period

            
	 	 
	
              25%

            	
              From the first anniversary of the Date of Grant to and including the seventh anniversary of the Date of Grant

            
	 	 
	
              25%

            	
              From the second anniversary of the Date of Grant to and including the seventh anniversary of the Date of Grant

            
	 	 
	
              25%

            	
              From the third anniversary of the Date of Grant to and including the seventh anniversary of the Date of Grant

            
	 	 
	
              25%

            	
              From the fourth anniversary of the Date of Grant to and including the seventh anniversary of the Date of Grant

            

      

         

      Each Option or instalment may be exercised at any time or from time to time, in whole or in part, for up to the total number of Subordinate Voting Shares with respect to which it
        is then exercisable. The Board has the right to accelerate the date upon which any instalment of any Option becomes exercisable.

       

      	Section 4.5	
              Exercise and Termination of Options

            

       

      	

            	(a)	
              Options shall be exercised by means of a fully completed Exercise Notice delivered to the Company.

            

       

      	

            	(b)	
              The Exercise Notice must be accompanied by payment in full (in cash, or by certified cheque, bank draft or money order payable to the Company or by such other means acceptable to the Directors) of the purchase price for the Subordinate
                Voting Shares to be purchased, such payment to be provided to the Company within 3 Business Days of delivery of the Exercise Notice.

            

       

      	

            	(c)	
              As soon as practicable after receipt of any Exercise Notice and full payment, the Company shall duly issue the applicable number of Subordinate Voting Shares to the Participant and such Subordinate Voting Shares shall be deemed validly
                issued as fully paid and non-assessable.

            

       

      	

            	(d)	
              The right to exercise an Option terminates if the Option is not exercised before the end of the Exercise Period or are cancelled under this Plan prior to the end of the Exercise Period.

            

      

      

      
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      	Section 4.6	
              Death or Disability of Optionee

            

       

      	

            	(a)	
              If an Individual Optionee dies or becomes Disabled while an employee, Director or officer of the Company or an Affiliate, the executor or administrator of the Optionee’s estate may exercise any Options of the Optionee to the extent that
                the Options were exercisable at the date of such death or Disability until the earlier of:

            

       

      	

            	(i)	
              the date that is 180 days from the date of the Individual Optionee’s death or Disability; and

            

       

      	

            	(ii)	
              the date on which the Exercise Period of the particular Option expires.

            

       

      Any such Options not exercised by such time are cancelled.

       

      	

            	(b)	
              Any Options held by the Optionee that were not exercisable at the date of death or Disability are cancelled on such date.

            

       

      	Section 4.7	
              Termination of Employment or Services

            

       

      	

            	(a)	
              Where an Employee Participant’s or Executive Participant’s employment or term of office with the Company or an Affiliate ceases by reason of the Participant’s death or Disability, then the provisions of Section 4.6 will apply.

            

       

      	

            	(b)	
              Where an Employee Participant’s or Executive Participant’s employment or term of office terminates by reason of:

            

       

      	

            	(i)	
              termination by the Company or an Affiliate without cause (whether such termination occurs with or without adequate notice, reasonable notice, or with or without adequate compensation in lieu of such notice or reasonable notice), or

            

       

      	

            	(ii)	
              voluntary resignation by the Optionee,

            

       

      then any Options held by the Optionee that are exercisable at the Termination Date continue to be exercisable by the Optionee, subject to Section 4.3(b), until the earlier of: (A)
        the date that is 30 days after the Termination Date; and (B) the date on which the Exercise Period of the particular Option expires. Any such Options not exercised by such time are cancelled. Any Options held by the Optionee that are not
        exercisable at the Termination Date are cancelled on the Termination Date.

       

      	

            	(c)	
              Where an Employee Participant’s or Executive Participant’s employment or term of office is terminated by the Company or an Affiliate for cause, then any Options held by the Optionee, whether or not exercisable at the Termination Date,
                are cancelled on the Termination Date at a time determined by the Board, in its discretion.

            

       

      	

            	(d)	
              Where a Consultant Participant’s consulting agreement or arrangement terminates by reason of:

            

       

      	

            	(i)	
              termination by the Company or an Affiliate for any reason whatsoever other than for breach of the consulting agreement or arrangement (whether or not such termination is effected in compliance with any termination provisions contained in
                the Optionee’s consulting agreement or arrangement) or

            

      

      

      
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            	(ii)	
              voluntary termination by the Optionee; or

            

       

      	

            	(iii)	
              the death or Disability of the Optionee,

            

       

      then any Options held by the Optionee that are exercisable at the Termination Date, or at the date of the death or Disability of the Optionee, as the case may be, continue to be
        exercisable by the Optionee, subject to Section 4.3(b), until the earlier of: (A) the date that is 30 days from the Termination Date, or from the date of the death or Disability of the Optionee, as the case may be; and (B) the date on which the
        Exercise Period of the particular Option expires. Any such Options not exercised by such time are cancelled. Any Options held by the Optionee that are not exercisable at the Termination Date, or at the date of the death or Disability of the
        Optionee, as the case may be, are cancelled on such date.

       

      	

            	(e)	
              Where a Consultant Participant’s, consulting agreement or arrangement is terminated by the Company or an Affiliate for breach of the consulting agreement or arrangement (whether or not such termination is effected in compliance with any
                termination provisions contained in Optionee’s consulting agreement or arrangement), then any Options held by the Optionee, whether or not such Options are exercisable at the Termination Date, are cancelled on the Termination Date at a time
                determined by the Board, in its discretion.

            

       

      	

            	(f)	
              Unless the Board, in its discretion, otherwise determines, at any time and from time to time, Options are not affected by a change of employment or consulting arrangement within or among the Company or an Affiliate for so long as the
                Employee Participant continues to be an employee of the Company or an Affiliate, or for so long as the Executive Participant continues to be a director or officer of the Company or an Affiliate, or for so long as the Consultant Participant
                continues to be engaged as a consultant to the Company or an Affiliate, as the case may be.

            

       

      	Section 4.8	
              Discretion to Permit Exercise

            

       

      Notwithstanding the provisions of Section 4.6 and Section 4.7, the Board may, in its discretion, at any time prior to or following the events contemplated in such sections, permit the exercise of any
        or all Options held by the Optionee in the manner and on the terms authorized by the Board, provided that, subject to an extension pursuant to Section 4.3(b) resulting from a Black-Out Period, the Board will not, in any case, authorize the exercise
        of an Option pursuant to this Section beyond the expiration of the Exercise Period of the particular Option.

       

      	Section 4.9	
              Change of Control

            

       

      	

            	(a)	
              Upon the occurrence of any Change of Control:

            

       

      	

            	(i)	
              where Options that have vested are not assumed by (or substituted for) options in any entity participating in or resulting from the Change of Control, the Board may, in its discretion:

            

      

      

      
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            	A.	
              allow the holders of vested Options to surrender such Options to the Company for cancellation in exchange for a cash payment (or the delivery of shares of stock, other securities or a combination of cash, stock and securities equivalent
                to such cash payment) equal to the difference, if any, between the consideration received by shareholders of the Company in respect of a Subordinate Voting Share in connection with such transaction and the purchase price per Subordinate
                Voting Share, if any, under the Option multiplied by the number of Subordinate Voting Shares subject to such Option; except that if such product is zero or less, the Options will be cancelled and terminated without payment therefor; or

            

       

      	

            	B.	
              provide that the period to exercise Options granted under the Plan will be extended (but not beyond 10 years from the Date of Grant); and

            

       

      	

            	(ii)	
              where Options have not vested are not assumed by (or substituted for) options in any entity participating in or resulting from the Change of Control, the Board may, in its discretion, terminate such unvested Options (without the payment
                of any consideration for such termination) immediately prior to, and conditional upon the closing of, the Change of Control.

            

       

      	

            	(b)	
              For purposes of this Section, a “Change of Control” means the happening of any of the following events:

            

       

      	

            	(i)	
              the completion of a transaction pursuant to which:

            

       

      	

            	A.	
              the Company goes out of existence; or

            

       

      	

            	B.	
              any Person, or any Associate or Affiliate of such Person, other than:

            

       

      	

            	(1)	
              the Company, a subsidiary of the Company or an employee benefit plan of the Company (including any trustee of such plan acting as trustee); or

            

       

      	

            	(2)	
              any shareholder of the Company holding at least 10% of the outstanding shares of the Company on the Effective Date of this Plan (determined on an as-converted to common exchangeable shares basis),

            

       

      acquires the direct or indirect “beneficial ownership” (as defined by the CBCA) of securities of the Company representing 50% or more of the aggregate voting power of all of the
        Company’s then issued and outstanding securities;

       

      	

            	(ii)	
              the sale of all or substantially all of the Company’s assets to a Person other than a Person that was, prior to such sale, an Affiliate; or

            

       

      	

            	(iii)	
              the dissolution or liquidation of the Company except in connection with the distribution of assets of the Company to one or more Persons that were Affiliates prior to such event.

            

      

      

      
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            	(c)	
              The Board may, in its discretion, accelerate the vesting of any or all outstanding Options to provide that such outstanding Options are fully vested and conditionally exercisable upon (or prior to) the completion of the transaction
                resulting in the Change of Control. If the Board elects to accelerate the vesting of the Options, then if any of such Options are not exercised on or prior to completion of the transaction resulting in the Change of Control, such
                unexercised Options are cancelled upon the completion of the transaction resulting in the Change of Control. If, for any reason, the transaction that would result in the Change of Control is not completed, the acceleration of the vesting of
                the Options is retracted and vesting instead reverts to the manner in which such Options vested prior to the acceleration.

            

       

      	

            	(d)	
              Notwithstanding anything else in this Plan or any Option Agreement, the Board may, without the consent of any Optionee, take such steps as are necessary or desirable to cause the conversion or exchange of any outstanding Options into or
                for options, rights or other securities of substantially equivalent value (or greater value), as determined by the Board in its discretion, in any entity participating in or resulting from a Change of Control, or to otherwise facilitate
                Options being assumed or substituted in connection with a Change of Control.

            

       

      	

            	(e)	
              The Board shall determine in its discretion whether an Option is to be considered “assumed” or “substituted”. Without limiting the generality of the previous sentence, an Option may be considered “assumed” or “substituted” if in the
                determination of the Board:

            

       

      	

            	(i)	
              the aggregate intrinsic value (the difference between the then Market Value and the Exercise Price per share multiplied by the number of Subordinate Voting Shares subject to such Option) of the assumed (or substituted) Option immediately
                after the Change of Control is substantially the same as the aggregate intrinsic value of such Option immediately before such transaction;

            

       

      	

            	(ii)	
              the ratio of the Exercise Price per assumed (or substituted) Option to the fair market value per share of the successor corporation stock immediately after the Change of Control is substantially the same as such ratio for such Option
                immediately before such transaction; and

            

       

      	

            	(iii)	
              the Option is exercisable for the consideration approved by the Board (including shares of stock, other securities or property or a combination of cash, stock, securities and other property).

            

       

      	Section 4.10	
              Conditions to Exercise Options

            

       

      Each Optionee must, at the time of exercising an Option, sign and deliver to the Company:

       

      	

            	(a)	
              [RESERVED];

            

       

      	

            	(b)	
              [RESERVED];

            

       

      	

            	(c)	
              [RESERVED]; and

            

      

      

      
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            	(d)	
              to the extent requested by the Company, sign and deliver all such documents relating to the granting or exercise of Options that the Company deems necessary or desirable.

            

       

      	Section 4.11	
              Incentive Stock Options

            

       

      The following provisions apply, in addition to the other provisions of this Plan that are not inconsistent with this Section 4.11, to Options intended to qualify as incentive stock options (“ISOs”) under Title 26, Section 422 of the United States Internal Revenue Code of 1986 (the “Code”):

       

      	

            	(a)	
              Options may be granted as ISOs only to individuals who are employees of the Company or any present or future “subsidiary corporation” or “parent corporation” as those terms are defined in Section 424 of the Code (collectively, “Related Corporations”), and Options shall not be granted to non-employee Directors or independent contractors;

            

       

      	

            	(b)	
              for purposes of Section 4.6 and Section 4.7 of the Plan, “Disability” shall mean “permanent and total disability” as defined in Section 22(e)(3) of the Code;

            

       

      	

            	(c)	
              if an Optionee ceases to be employed by the Company and/or all Related Corporations other than by reason of death or Disability, Options shall be eligible for treatment as ISOs only if exercised no later than three months following such
                termination of employment;

            

       

      	

            	(d)	
              the Exercise Price in respect of Options granted as ISOs to employees who own more than 10% of the combined voting power of all classes of stock of the Company or a Related Corporation (a “10% Stockholder”) shall be not less than 110% of
                the fair market value per Subordinate Voting Share on the Date of Grant and the term of any ISO granted to a 10% Stockholder shall not exceed 5 years measured from the Date of Grant;

            

       

      	

            	(e)	
              Options held by an Optionee shall be eligible for treatment as ISOs only if the fair market value (determined at the Date of Grant) of the Subordinate Voting Shares with respect to which such Options and all other options intended to
                qualify as “incentive stock options” under Section 422 of the Code held by such individual and granted under the Plan or any other plan of a Related Corporation and which are exercisable for the first time by such individual during any one
                calendar year does not exceed US$100,000;

            

       

      	

            	(f)	
              by accepting an Option granted as an ISO under the Plan, each Optionee agrees to notify the Company in writing immediately after such Optionee makes a “Disqualifying Disposition” of any stock
                acquired pursuant to the exercise of such ISO; for this purpose, a Disqualifying Disposition is any disposition occurring on or before the later of (a) the date two years following the date the ISO was granted or (b) the date one year
                following the date the ISO was exercised;

            

       

      	

            	(g)	
              notwithstanding that the Plan shall be effective when adopted by the Board, no ISO granted under the Plan may be exercised until the Plan is approved by the Company’s shareholders and, if such approval is not obtained within 12 months
                after the date of the Board’s adoption of the Plan, then all ISOs previously granted shall terminate and cease to be outstanding and the provisions of this Section 4.11 shall cease to have effect; furthermore, the Board shall obtain
                shareholder approval within 12 months before or after any increase in the total number of shares that may be issued under the Plan or any change in the class of employees eligible to receive ISOs under the Plan;

            

      

      

      
        - 12 -

        
          

      

      	

            	(h)	
              Options intended to be ISOs under this Plan shall be granted prior to the date that is 10 years after the date this Plan is approved by the shareholders of the Company;

            

       

      	

            	(i)	
              ISOs shall be neither transferable nor assignable by the Optionee other than by will or the laws of descent and distribution and may be exercised, during the Optionee’s lifetime, only by such Optionee; and

            

       

      	

            	(j)	
              notwithstanding Section 3.7, an ISO is not transferable except by will or by the laws of descent and distribution.

            

       

      	Section 4.12	
              [RESERVED]

            

       

      ARTICLE 5

      SHARE CAPITAL ADJUSTMENTS

       

      	Section 5.1	
              General

            

       

      The existence of any Options does not affect in any way the right or power of the Company or its shareholders to make, authorize or determine any adjustment, recapitalization, reorganization or any
        other change in the Company’s capital structure or its business, or any amalgamation, combination, merger or consolidation involving the Company, to create or issue any Subordinate Voting Shares or other securities of the Company or to determine
        the rights and conditions attaching thereto, to effect the dissolution or liquidation of the Company or any sale or transfer of all or any part of its assets or business, or to effect any other corporate act or proceeding, whether or not any such
        action referred to in this Section would have an adverse effect on this Plan or any Option granted hereunder.

       

      	Section 5.2	
              Reorganization of Company’s Capital

            

       

      If the Company effects a subdivision or consolidation of Subordinate Voting Shares or any similar capital reorganization or a payment of a stock dividend (other than a stock dividend that is in lieu
        of a cash dividend), or an amalgamation, combination, merger or other reorganization involving the Company by exchange of Subordinate Voting Shares, by sale or lease of assets or otherwise, or any other change in the capitalization of the Company
        that, in the opinion of the Board, would warrant the replacement or amendment of any existing Options in order to adjust: (a) the number of Subordinate Voting Shares that may be acquired on the exercise of any outstanding Options; or (b) the
        Exercise Price of any outstanding Options in order to preserve proportionately the rights and obligations of the Optionees, the Board will authorize such steps to be taken as may be equitable and appropriate to that end.

       

      	Section 5.3	
              Issue by Company of Additional Shares

            

       

      Except as expressly provided in this Article, neither the issue by the Company of shares of any class or securities convertible into or exchangeable for shares of any class, nor the conversion or
        exchange of such shares or securities, affects, and no adjustment by reason thereof is to be made with respect to: (a) the number of Subordinate Voting Shares that may be acquired on the exercise of any outstanding Options; or (b) the Exercise
        Price of any outstanding Options.

      

      

      
        - 13 -

        
          

      

      	Section 5.4	
              Fractions

            

       

      No fractional Subordinate Voting Shares will be issued on the exercise of an Option. Accordingly, if, as a result of any adjustment under Section 5.2, an Optionee would become entitled to a
        fractional Subordinate Voting Share, the Optionee has the right to acquire only the adjusted number of full Subordinate Voting Shares and no payment or other adjustment will be made with respect to the fractional Subordinate Voting Shares so
        disregarded.

       

      	Section 5.5	
              Conditions of Exercise

            

       

      If the Board determines that the listing, registration or qualification of the Subordinate Voting Shares subject to an Option on any stock exchange or under any provincial, state or federal law, or
        the consent or approval of any governmental body, stock exchange or of the holders of the Subordinate Voting Shares generally, is necessary or desirable, such Option may not be exercised unless such listing, registration, qualification, consent or
        approval has been effected or obtained. The Optionees must, to the extent applicable, cooperate with the Company in relation to such listing, registration, qualification, consent or other approval and have no claim or cause of action against the
        Company or any of its officers or directors as a result of any failure by the Company to obtain or to take any steps to obtain any such registration, qualification or approval.

       

      ARTICLE 6

      MISCELLANEOUS PROVISIONS

       

      	Section 6.1	
              Legal Requirement

            

       

      The Company is not obligated to issue any Subordinate Voting Shares or other securities, make any payments or take any other action if, in the opinion of the Board, in its discretion, such action
        would constitute a violation by an Optionee or the Company of any law.

       

      	Section 6.2	
              Withholding Taxes

            

       

      The exercise of each Option granted under this Plan is subject to the condition that if at any time the Company determines, in its discretion, that the satisfaction of withholding tax or other
        withholding liabilities is required under applicable law in respect of such exercise, such exercise is not effective unless such withholding has been effected to the satisfaction of the Company. In such circumstances, the Company may require that
        an Optionee pay to the Company, in addition to and in the same manner as the Exercise Price for the Subordinate Voting Shares, such amount as the Company is obliged to remit to the relevant taxing authority in respect of the exercise of the Option.
        Any such additional payment is due no later than the date as of which any amount with respect to the Option exercised first becomes includable in the gross income of the Optionee for tax purposes.

       

      	Section 6.3	
              Certain US Tax Matters

            

       

      The Board will endeavour in good faith to assure that that the terms of any Options will be such that the Optionees to whom such Options are awarded are not subject to the tax or interest charges
        imposed by Section 409A(a)(1) of the Code. No Option will provide for deferral of compensation that does not comply with Section 409A of the Code, unless the Board, at the time of grant or any amendment or modification, specifically provides that
        the Option is not intended to comply with Section 409A of the Code. The Plan and each Option are hereby modified and limited as necessary to comply with applicable requirements of Section 409A of the Code. Notwithstanding the foregoing, neither the
        Company nor any member of the Board has any liability to an Optionee, or any other party, if an Option that is intended to be exempt from, or compliant with, Section 409A of the Code is not so exempt or compliant or for any action taken by the
        Board.

       

      

      
        - 14 -

        
          

      

      	Section 6.4	
              Termination; Amendment

            

       

      	

            	(a)	
              The Plan will terminate on the date on which all Options issued under the Plan have either been exercised, cancelled or forfeited, or in such other circumstances as contemplated by the Plan or determined by the Board.

            

       

      	

            	(b)	
              The Board may, without notice, at any time or from time to time, amend, suspend or terminate this Plan or any provisions hereof in such respects as it, in its discretion, determines appropriate. No such amendment, suspension or
                termination of this Plan, without the consent of any Optionee or the representatives of his or her estate, as applicable, alters or impairs any rights or obligations arising from any Option previously granted to an Optionee under this Plan
                that remains outstanding.

            

       

      	

            	(c)	
              Subject to Section 6.4(b) and any applicable rules of a stock exchange, including the TSX, the Board may, from time to time, in its absolute discretion and without the approval of the shareholders of the Company make the following
                amendments to this Plan:

            

       

      	

            	(i)	
              any amendment to the vesting provision, if applicable, or assignability provisions of the Options;

            

       

      	

            	(ii)	
              any amendment to the expiration date of an Option that does not extend the term of the Option past the original date of expiration of such Option;

            

       

      	

            	(iii)	
              any amendment regarding the effect of termination of a Participant’s employment or engagement;

            

       

      	

            	(iv)	
              any amendment which accelerates the date on which any Option may be exercised or payable, as applicable, under the Plan;

            

       

      	

            	(v)	
              any amendment to the definition of Participant under the Plan;

            

       

      	

            	(vi)	
              any amendment necessary to comply with applicable law or the requirements of the TSX or any other regulatory body;

            

       

      	

            	(vii)	
              any amendment of a “housekeeping” nature, including to clarify the meaning of an existing provision of the Plan, correct or supplement any provision of the Plan that is inconsistent with any other provision of the Plan, correct any
                grammatical or typographical errors or amend the definitions in the Plan;

            

       

      	

            	(viii)	
              any amendment regarding the administration of the Plan;

            

       

      	

            	(ix)	
              any amendment to add a cashless exercise feature or net exercise procedure;

            

       

      	

            	(x)	
              any amendment to add a form of financial assistance or clawback; and

            

       

      	

            	(xi)	
              any other amendment that does not require the approval of the holders of Subordinate Voting Shares under Section 6.4(d).

            

      

      

      
        - 15 -

        
          

      

      	

            	(d)	
              Notwithstanding Section 6.4(b), the Board shall be required to obtain shareholder approval to make the following amendments:

            

       

      	

            	(i)	
              any increase to the maximum number of Subordinate Voting Shares issuable pursuant to the Plan;

            

       

      	

            	(ii)	
              except in the case of an adjustment pursuant to Article 5, any reduction in the Exercise Price of an Option or any cancellation and replacement of such Option with an Option with a lower Exercise Price, to the extent such reduction or
                replacement benefits an Insider;

            

       

      	

            	(iii)	
              any extension of the term of an Option beyond the original expiry date, to the extent such amendment benefits an Insider;

            

       

      	

            	(iv)	
              any amendment which increases the maximum number of Subordinate Voting Shares that may be issuable to Insiders at any time pursuant to the Insider participation limit; and

            

       

      	

            	(v)	
              any amendment to the amendment provisions of the Plan;

            

       

      provided that Subordinate Voting Shares held directly or indirectly by Insiders benefiting from the amendments shall be excluded when obtaining such shareholder approval.

       

      	Section 6.5	
              Participation in the Plan

            

       

      No Participant has any claim or right to be granted an Option. The participation of any Participant in the Plan is entirely voluntary and not obligatory and is not to be interpreted as conferring
        upon such Participant any rights or privileges other than those rights and privileges expressly provided in the Plan. In particular, participation in the Plan does not constitute a condition of employment or service nor a commitment on the part of
        the Company to ensure the continued employment or service of such Participant. No Optionee has any rights as a shareholder of the Company in respect of Subordinate Voting Shares issuable on the exercise of any Option until the allotment and
        issuance to the Optionee of such Subordinate Voting Shares.

       

      	Section 6.6	
              Effective Date

            

       

      This Plan becomes effective on the Effective Date.

       

      	Section 6.7	
              Governing Law

            

       

      This Plan is created under and is to be governed, construed and administered in accordance with the laws of the Province of Quebec and the laws of Canada applicable in Quebec.

      

      

      

      
        - 16 -

        
          

      

      SCHEDULE A

      Exercise Notice

       

      I, _____________________, hereby exercise the option to purchase ______________ Subordinate Voting Shares of Lightspeed POS Inc. (the “Company”) at a purchase
        price of $_______________ per Subordinate Voting Share. This Exercise Notice is delivered in respect of the option to purchase _______________Subordinate Voting Shares of the Company that was granted to me on ___________________ pursuant to the
        Option Agreement entered into between the Company and me. In connection with the foregoing, I enclose cash, a certified cheque, bank draft or money order payable to the Company in the amount of $___________________ as full payment for the
        Subordinate Voting Shares to be received upon exercise of the Option.

       

      Reference is also made to the sixth amended and restated shareholders agreement dated October 2, 2017 among the Company and its shareholder (the “Shareholders
          Agreement”), as terminated pursuant to the termination agreement dated March 15, 2019 among the Company, the holders of a majority of the then outstanding common shares of the Company and the holders of a majority of the common shares
        issued or issuable upon conversion of the then outstanding preferred shares of the Company (the “Termination Agreement”). For greater certainty, I hereby expressly confirm that, pursuant to the terms of the
        Termination Agreement, Section 8 (Lock-Up) of the Shareholders Agreement shall remain applicable to the undersigned to the maximum extent permitted thereunder under law, as applicable.

       

      

      	
              Date

            	 	
              Optionee’s Signature

            

       

        

       

        

      - 1 -Exhibit 4.5

  

  

  
    
      

      

      
        

    

     

    
      LIGHTSPEED POS INC.

    

    
       

      THIRD AMENDED AND RESTATED OMNIBUS INCENTIVE PLAN

       

      

      
        
 

    

     

    Effective September 7, 2020

     

    
      
        

    

    TABLE OF CONTENTS

    

    

    	
            Article 1 INTERPRETATION

          	
            1

          
	 	 
	 	
            Section 1.1

          	
            Definitions.

          	
            1

          
	 	
            Section 1.2

          	
            Interpretation.

          	
            7

          
	 	 	 	 
	
            Article 2 PURPOSE AND ADMINISTRATION OF THE PLAN; GRANTING OF AWARDS

          	
            8

          
	 	 
	 	
            Section 2.1

          	
            Purpose of the Plan.

          	
            8

          
	 	
            Section 2.2

          	
            Implementation and Administration of the Plan.

          	
            8

          
	 	
            Section 2.3

          	
            Participation in this Plan.

          	
            9

          
	 	
            Section 2.4

          	
            Shares Available for Option Grants.

          	
            10

          
	 	
            Section 2.5

          	
            Limits with Respect to Insiders.

          	
            11

          
	 	
            Section 2.6

          	
            Limits with Respect to Non-Employee Directors.

          	
            11

          
	 	
            Section 2.7

          	
            Granting of Awards.

          	
            11

          
	 	 	 	 
	
            Article 3 OPTIONS

          	
            12

          
	 	 
	 	
            Section 3.1

          	
            Nature of Options.

          	
            12

          
	 	
            Section 3.2

          	
            Option Awards.

          	
            12

          
	 	
            Section 3.3

          	
            Option Price.

          	
            12

          
	 	
            Section 3.4

          	
            Option Term.

          	
            13

          
	 	
            Section 3.5

          	
            Exercise of Options.

          	
            13

          
	 	
            Section 3.6

          	
            Method of Exercise and Payment of Option Price.

          	
            13

          
	 	
            Section 3.7

          	
            Grant of Incentive Stock Options.

          	
            14

          
	 	
            Section 3.8

          	
            Option Agreements.

          	
            15

          
	 	 	 	 
	
            Article 4 PERFORMANCE SHARE UNITS

          	
            15

          
	 	 
	 	
            Section 4.1

          	
            Nature of PSUs.

          	
            15

          
	 	
            Section 4.2

          	
            PSU Awards.

          	
            16

          
	 	
            Section 4.3

          	
            Vesting of PSUs.

          	
            16

          
	 	
            Section 4.4

          	
            Settlement of PSUs.

          	
            17

          
	 	
            Section 4.5

          	
            Determination of Amounts.

          	
            17

          
	 	
            Section 4.6

          	
            PSU Agreements

          	
            17

          
	 	
            Section 4.7

          	
            Grant of Dividend Equivalents

          	
            18

          
	 	 	 	 
	
            Article 5 RESTRICTED SHARE UNITS

          	
            18

          
	 	 
	 	
            Section 5.1

          	
            Nature of RSUs.

          	
            18

          
	 	
            Section 5.2

          	
            RSU Awards.

          	
            18

          
	 	
            Section 5.3

          	
            Vesting of RSUs.

          	
            19

          
	 	
            Section 5.4

          	
            Settlement of RSUs.

          	
            19

          
	 	
            Section 5.5

          	
            Determination of Amounts.

          	
            20

            

          
	 	
            Section 5.6

          	
            RSU Agreements.

          	
            20

          
	 	
            Section 5.7

          	
            Grant of Dividend Equivalents.

          	
            20

          

    

    

    
      
        

    

    	
            Article 6 DEFERRED SHARE UNITS

          	21
	 	 
	 	
            Section 6.1

          	
            Nature of DSUs.

          	21
	 	
            Section 6.2

          	
            DSU Awards.

          	
            21

          
	 	
            Section 6.3

          	
            Vesting of DSUs.

          	
            21

          
	 	
            Section 6.4

          	
            Settlement of DSUs.

          	
            22

          
	 	
            Section 6.5

          	
            Determination of Amounts.

          	
            22

          
	 	
            Section 6.6

          	
            DSU Agreements.

          	
            23

          
	 	
            Section 6.7

          	
            Grant of Dividend Equivalents.

          	
            23

          
	 	 	 	 
	
            Article 7 GENERAL CONDITIONS

          	
            23

          
	 	 
	 	
            Section 7.1

          	
            General Conditions applicable to Awards.

          	
            23

          
	 	
            Section 7.2

          	
            General Conditions applicable on Termination.

          	
            25

          
	 	 	 	 
	
            Article 8 COMPLIANCE WITH U.S. TAX LAWS

          	
            27

          
	 	 
	 	
            Section 8.1

          	
            Special Provisions Related to Section 409A of the U.S. Code.

          	
            27

          
	 	 	 	 
	
            Article 9 ADJUSTMENTS AND AMENDMENTS

          	
            29

          
	 	 
	 	
            Section 9.1

          	
            Adjustment to Shares Subject to Outstanding Awards.

          	
            29

          
	 	
            Section 9.2

          	
            Change of Control.

          	
            30

            

          
	 	
            Section 9.3

          	
            Amendment or Discontinuance of the Plan.

          	
            30

          
	 	 	 	 
	
            Article 10 MISCELLANEOUS

          	
            32

          
	 	 
	 	
            Section 10.1

          	
            Use of an Administrative Agent and Trustee.

          	
            32

          
	 	
            Section 10.2

          	
            Tax Withholding and Deduction.

          	
            32

          
	 	
            Section 10.3

          	
            Clawback.

          	
            33

          
	 	
            Section 10.4

          	
            Securities Law Compliance.

          	
            34

          
	 	
            Section 10.5

          	
            Reorganization of the Company.

          	
            34

          
	 	
            Section 10.6

          	
            Governing Laws.

          	
            35

          
	 	
            Section 10.7

          	
            Severability.

          	
            35

          
	 	
            Section 10.8

          	
            Currency

          	
            35

          
	 	
            Section 10.9

          	
            Effective Date of the Plan

          	
            35

          

    

    

    
      
        

    

    
    LIGHTSPEED POS INC.

    THIRD AMENDED AND RESTATED OMNIBUS INCENTIVE PLAN

     

    Lightspeed POS Inc. (the “Company”) hereby establishes this Third Amended and Restated Omnibus Incentive Plan (the “Plan”) for certain qualified directors, executive officers, employees, and consultants of the Company or any of its Subsidiaries.  The Plan shall become effective on the Effective Date (as set forth in Section 10.9
      hereof) and shall remain in effect, subject to the right of the board of directors of the Company (the “Board”) to amend or terminate the Plan at any time pursuant to Section 9.3 hereof, until the tenth (10th)
      anniversary of the IPO Effective Date. Except as otherwise specifically permitted in the Plan or a Grant Agreement, no termination, amendment, or modification of the Plan shall adversely affect in any material way any Award previously granted under
      the Plan, without the written consent of the Participant holding such Award.

     

    ARTICLE 1

    INTERPRETATION

     

    
      Section 1.1   Definitions.

    

     

    Where used herein or in any amendments hereto or in any communication required or permitted to be given hereunder, the following terms shall have the following meanings, respectively, unless the
      context otherwise requires:

     

    “2012 Legacy Option Plan” means the Company’s option plan adopted on October 19, 2012 (as amended on January 1, 2015), as amended and restated as of March 15,
      2019;

     

    “2016 Legacy Option Plan” means the Company’s option plan adopted on April 1, 2016), as amended and restated as of March 15, 2019;

     

    “Account” means an account maintained for each Participant on the books of the Company which will be credited with PSUs, RSUs or DSUs, as applicable, in
      accordance with the terms of this Plan;

     

    “Affiliates” has the meaning ascribed thereto in National Instrument 45-106 – Prospectus Exemptions;

     

    “Associate”, where used to indicate a relationship with a Participant, means (i) any domestic partner of that Participant, and (ii) the spouse of that
      Participant and that Participant’s children (whether by birth or adoption), as well as that Participant’s relatives and that Participant’s spouse’s relatives, in each case if they share that Participant’s residence;

     

    “Award” means an Option, a PSU, an RSU and/or a DSU, as applicable, granted to a Participant pursuant to the terms of the Plan and the applicable Grant
      Agreement;

     

    “Black-Out Period” means a period of time when pursuant to any policies of the Company (including the Company’s insider trading policy), any securities of the
      Company may not be traded by certain Persons designated by the Company;

     

    
      - 1 -

      
        

    

    “Business Day” means a day other than a Saturday, Sunday or statutory holiday, when banks are generally open for business in Montréal, Québec and New York, New
      York for the transaction of banking business;

     

    “Cash Equivalent” means the amount of money equal to the Market Value multiplied by the number of vested PSUs, RSUs or DSUs, as applicable, in the
      Participant’s Account, net of any applicable taxes in accordance with Section 10.2, on the RSU Settlement Date, the PSU Settlement Date or the DSU Settlement Date, as applicable;

     

    “Cause” has the meaning ascribed thereto in Section 7.2(1) hereof;

     

    “Change of Control” has the meaning assigned to such term in the Employment Agreement, if any, between a Participant and the Company or a Subsidiary, provided,
      however that if there is no such Employment Agreement in which such term is defined, and unless otherwise defined in the applicable Grant Agreement or otherwise determined by the Board, then “Change of Control” shall mean the happening, in a single
      transaction or in a series of related transactions, of any of the following events:

     

    	

          	(i)	
            any acquisition by a Person (other than a non-arm’s length party or a holder of Multiple Voting Shares), or a combination of Persons acting jointly or in concert of the direct or indirect beneficial ownership
              of securities of the Company representing 50% or more of the aggregate voting power of all of the Company’s then issued and outstanding securities entitled to vote in the election of directors of the Company, other than any such acquisition
              that occurs (A) upon the exercise or settlement of options or other securities granted by the Company under any of the Company’s equity incentive plans; or (B) as a result of the conversion of the Multiple Voting Shares in the capital of the
              Company into Shares;

          

     

    	

          	(ii)	
            the sale or disposition of all or substantially all of the Company’s assets, or consummation of any transaction, or series of related transactions, having similar effect;

          

     

    	

          	(iii)	
            other than as a result of a solicitation by management of the Company, a change in the composition of the Board, which occurs at a single meeting of the shareholders 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;

          

     

    	

          	(iv)	
            the dissolution, liquidation or winding up of the Company; or

          

     

    	

          	(v)	
            an arrangement, amalgamation, merger, consolidation or similar transaction involving (directly or indirectly) the Company and, immediately after the consummation of such arrangement, amalgamation, merger,
              consolidation or similar transaction, the shareholders of the Company immediately prior thereto do not beneficially own, directly or indirectly, either (A) outstanding voting securities representing more than 50% of the combined outstanding
              voting power of the surviving or resulting entity in such amalgamation, merger, consolidation or similar transaction or (B) more than 50% of the combined outstanding voting power of the parent of the surviving or resulting entity in such
              arrangement, amalgamation merger, consolidation or similar transaction, in each case in substantially the same proportions as their beneficial ownership of the outstanding voting securities of the Company immediately prior to such
              transaction.

          

     

    
      - 2 -

      
        

    

    “Company” means Lightspeed POS Inc., a corporation incorporated under the Canada Business Corporations Act, as
      amended from time to time;

     

    “Dividend Equivalent” means a bookkeeping entry equivalent in value to a dividend paid on a Share credited to a
      Participant’s Account;

     

    “Dividend Payment Date” means the date on which the Company pays a dividend on the Shares and the Multiple Voting Shares;

     

    “DSU” means a deferred share unit that is granted by the Company from time to time to a Participant pursuant to Article 6 hereof which shall upon vesting
      entitle the holder thereof to receive Shares issued from treasury or purchased on the open market, the Cash Equivalent or a combination thereof, subject to the terms and conditions of this Plan and the applicable DSU Agreement, provided that such DSU
      has not expired before vesting;

     

    “DSU Agreement” means a written agreement between the Company and a Participant evidencing the grant of DSUs and the terms and conditions thereof;

     

    “DSU Settlement Date” has the meaning ascribed thereto in Section 6.4 hereof;

     

    “Effective Date” has the meaning ascribed thereto in Section 10.9 hereof;

     

    “Eligible Participants” means any director, executive officer, employee or consultant of the Company or any of its Subsidiaries (for so long as such Person
      holds any such position, excluding any period of statutory, contractual or reasonable notice of termination of employment or deemed employment); provided, however, that solely with respect to the grant of an Incentive Stock Option, an Eligible
      Participant shall be any employee (including any executive officer) of the Company or any Subsidiary Corporation;

     

    “Employment Agreement” means, with respect to any Participant, any written employment agreement entered into between the Company or a Subsidiary, as
      applicable, and such Participant;

     

    “Exercise Notice” means a notice, in the form attached as Schedule “A” hereto or such other form as the Board may use from time to time, in writing signed by a
      Participant and stating the Participant’s intention to exercise Options and the manner in which such Options are to be exercised;

     

    
      - 3 -

      
        

    

    “Grant Agreement” means a written agreement entered into by the Company and a Participant evidencing the grant to such Participant of an Award, including an
      Option Agreement, a PSU Agreement, an RSU Agreement and a DSU Agreement;

     

    “Incentive Stock Option” or “ISO” means an Option that is intended to meet the requirements of Section 422 of the U.S.
      Code;

     

    “Insider” means a “reporting insider” as defined in National Instrument 55-104 –Insider Reporting Requirements and Exemptions
      and includes Associates and affiliates (as such term is defined in Part 1 of the TSX Company Manual) of such “reporting insider”;

     

    “IPO Effective Date” means the date of completion by the Company of its initial public offering on the TSX;

     

    “Legacy Option” means an option granted by the Company under a Legacy Option Plan which upon exercises entitle the holder thereof to acquire a designated
      number of Shares from treasury, subject to the terms and conditions of the applicable Legacy Option Plan and option grant agreement, provided that such Legacy Option has not expired prior to being exercised;

     

    “Legacy Option Plans” means collectively, the 2012 Legacy Option Plan and the 2016 Legacy Option Plan;

     

    “Market Value” means at any date when the market value of Shares is to be determined: (i) if the Shares are listed on the TSX and the NYSE (A) the VWAP on the
      TSX for the five (5) trading days immediately preceding such date where value is determined in Canadian dollars for the grant or payment of an Award and (B) the VWAP on the NYSE for the five trading days immediately preceding such date where value is
      determined in U.S. dollars for the grant or payment of an Award; (ii) if the Shares are not listed on both the TSX and the NYSE, then as calculated in paragraph (i) by reference to the price on the stock exchange on which the Shares are listed (if
      more than one, then using the exchange on which a majority of Shares are traded on the five trading days preceding the date of determination); or (iii) if the Shares are not listed on any stock exchange, the value as is determined solely by the
      Board, acting reasonably and in good faith and such determination shall be conclusive and binding on all Persons;

     

    “Multiple Voting Shares” means the multiple voting shares in the share capital of the Company;

     

    “Non-Employee Director” means members of the Board who, at the time of execution of a Grant Agreement and at all times thereafter while they continue to serve
      as a member of the Board, are not officers or employees of the Company or a Subsidiary;

     

    “Non-Exempt Deferred Compensation” has the meaning ascribed thereto in Section 8.1(2) hereof;

     

    “NYSE” means the New York Stock Exchange.

     

    
      - 4 -

      
        

    

    “Option” means an option that is granted by the Company from time to time to a Participant pursuant to Article 3 hereof which shall upon exercise entitle the
      holder thereof to acquire a designated number of Shares from treasury at the Option Price, subject to the terms and conditions of this Plan and the applicable Option Agreement, provided that such Option has not expired prior to being exercised;

     

    “Option Agreement” means a written agreement between the Company and a Participant evidencing the grant of Options and the terms and conditions thereof;

     

    “Option Price” has the meaning ascribed thereto in Section 3.2 hereof;

     

    “Option Term” has the meaning ascribed thereto in Section 3.4 hereof;

     

    “Participants” means Eligible Participants that are granted Awards under the Plan;

     

    “Performance Criteria” means specified criteria established by the Board and set forth in the applicable Grant Agreement, other than the mere continuation of
      employment or the mere passage of time, the satisfaction of which is a condition for the grant, exercisability, vesting or full enjoyment of an Award. A Performance Criterion and any targets with respect thereto need not be based upon an increase, a
      positive or improved result or avoidance of loss.

     

    “Performance Period” means the period determined by the Board at the time any Award is granted or at any time thereafter during which any Performance Criteria
      and any other conditions specified by the Board with respect to such Award are to be measured and by which the vesting of the Award is determined;

     

    “Person” means an individual, corporation, company, cooperative, partnership, trust, unincorporated association, entity with juridical personality or
      governmental authority or body, and pronouns which refer to a Person shall have a similarly extended meaning;

     

    “Plan” means this Lightspeed POS Inc. Third Amended and Restated Omnibus Incentive Plan, including any amendments or supplements hereto made after the
      Effective Date hereof and from time to time thereafter by amendment;

     

    “PSU” means a performance share unit that is granted by the Company from time to time to a Participant pursuant to Article 4 hereof which shall upon vesting
      entitle the holder thereof to receive Shares issued from treasury or purchased on the open market, the Cash Equivalent or a combination thereof, subject to the terms and conditions of this Plan and the applicable PSU Agreement, provided that such PSU
      has not expired before vesting;

     

    “PSU Agreement” means a written agreement between the Company and a Participant evidencing the grant of PSUs and the terms and conditions thereof;

     

    “PSU Settlement Date” has the meaning ascribed thereto in Section 4.4(1) hereof;

     

    
      - 5 -

      
        

    

    “Required Delay Period” has the meaning ascribed thereto in Section 8.1(4)(a) hereof;

     

    “Restriction Period” means a period determined by the Board, in its sole discretion, ending in all cases no later than (i) in the case of PSUs and RSUs, three
      (3) years after the last day of the calendar year in which the performance of services for which PSUs or RSUs are granted, occurred, and (ii) in the case of DSUs, the last day of the calendar year following the Eligible Participant’s Termination
      Date.

     

    “RSU” means a restricted share unit that is granted by the Company from time to time to a Participant pursuant to Article 5 hereof which shall upon vesting
      entitle the holder thereof to receive a payment in the form of Shares issued from treasury or purchased on the open market, the Cash Equivalent or a combination thereof, subject to the terms and conditions of this Plan and the applicable RSU
      Agreement, provided that such RSU has not expired before vesting;

     

    “RSU Agreement” means a written agreement between the Company and a Participant evidencing the grant of RSUs and the terms and conditions thereof;

     

    “RSU Settlement Date” has the meaning ascribed thereto in Section 5.4(1) hereof;

     

    “Share Compensation Arrangement” means a stock option, stock option plan, employee stock purchase plan, long-term incentive plan or any other compensation or
      incentive mechanism involving the issuance or potential issuance of Shares to one or more full-time employees, directors, officers, Insiders, or consultants of the Company or a Subsidiary, including a Share purchase from treasury by a full-time
      employee, director, officer, Insider, or consultant which is financially assisted by the Company or a Subsidiary by way of a loan, guarantee or otherwise;

     

    “Shares” means the subordinate voting shares in the share capital of the Company;

     

    “Share Unit Vesting Determination Date” means the date on which the Board determines if the vesting conditions with respect to PSUs, RSUs or DSUs (including,
      in the case of PSUs and RSUs, any applicable Performance Criteria) have been met, and as a result, establishes the number of PSUs, RSUs or DSUs, as applicable, that become vested, if any. The Share Unit Vesting Determination Date shall be on a date
      following the end of the applicable Performance Period, if any, but no later than the last day of the applicable Restriction Period.

     

    “Specified Employee” has the meaning ascribed thereto in Section 8.1(4) hereof;

     

    “Stock Exchange” means the TSX or the NYSE or, if the Shares are not listed or posted for trading on such stock exchange at a particular date, any other stock
      exchange on which the majority of the trading volume and value of the Shares are listed or posted for trading;

     

    “Subsidiary” means a corporation, company or partnership that is controlled, directly or indirectly, by the Company;

     

    
      - 6 -

      
        

    

    “Subsidiary Corporation” means a corporation other than the Company in an unbroken chain of corporations beginning with the Company if, at the time of granting
      the Option, each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain;

     

    “Tax Act” means the Income Tax Act (Canada) and the regulations thereunder, as amended from time to time;

     

    “Termination Date” means (i) in the event of a Participant’s resignation, the date on which such Participant ceases to be a director, executive officer,
      employee or consultant of the Company or one of its Subsidiaries, and (ii) in the event of the termination of the Participant’s employment, or position as director or executive officer of the Company or a Subsidiary, or consultant providing ongoing
      services to the Company or a Subsidiary, the effective date of the termination as specified in the notice of termination provided to the Participant by the Company or the Subsidiary, as the case may be, and, in any event, does not mean the date on
      which any period of statutory, contractual or reasonable notice of termination of employment or deemed employment ends;

     

    “TSX” means the Toronto Stock Exchange;

     

    “U.S. Code” the United States Internal Revenue Code of 1986, as amended from time to time and any reference to a particular section of the Code shall include
      references to regulations and rulings thereunder and to successor provisions; and

     

    “VWAP” means the volume weighted average trading price of the Shares, calculated by dividing the total value by the total volume of Shares traded for the
      relevant period.

     

    
      Section 1.2    Interpretation.

    

     

    (1) Whenever the Board is to exercise discretion or authority in the administration of the terms and conditions of this Plan, the term
        “discretion” or “authority” means the sole and absolute discretion of the Board.

     

    (2) The provision of a table of contents, the division of this Plan into Articles, Sections and other subdivisions and the insertion of headings
        are for convenient reference only and do not affect the interpretation of this Plan.

     

    (3) In this Plan, words importing the singular shall include the plural, and vice versa and words importing any gender include any other gender.

     

    (4) The words “including”, “includes” and “include” and any derivatives of such words mean “including (or includes or include) without
        limitation”. As used herein, the expressions “Article”, “Section” and other subdivision followed by a number, mean and refer to the specified Article, Section or other subdivision of this Plan, respectively.

     

    
      - 7 -

      
        

    

    (5) If any action may be taken within, or any right or obligation is to expire at the end of, a period of days under this Plan, then the first
        day of the period is not counted, but the day of its expiry is counted.

     

    ARTICLE 2

    PURPOSE AND ADMINISTRATION OF THE PLAN; GRANTING OF AWARDS

     

    
      Section 2.1   Purpose of the Plan.

    

     

    The purpose of the Plan is to permit the Company to grant Awards to Eligible Participants, subject to certain conditions as hereinafter set forth, for the following purposes:

     

    	

          	(a)	
            to provide a means through which the Company or a Subsidiary may attract, retain and motivate able Persons to advance its business strategy;

          

     

    	

          	(b)	
            to increase the interest in the Company’s welfare of those Eligible Participants, who share responsibility for the management, growth and protection of the business of the Company or a Subsidiary;

          

     

    	

          	(c)	
            to provide an incentive to such Eligible Participants to continue their services for the Company or a Subsidiary and to encourage such Eligible Participants whose skills, performance and loyalty to the
              objectives and interests of the Company or a Subsidiary are necessary or essential to its success, image, reputation or activities; and

          

     

    	

          	(d)	
            to reward Participants for their performance of services while working for the Company or a Subsidiary.

          

     

    
      Section 2.2    Implementation and Administration of the Plan.

    

     

    (1) The Plan shall be administered and interpreted by the Board or, if the Board by resolution so decides, by a committee or plan administrator
        appointed by the Board. If such committee or plan administrator is appointed for this purpose, all references to the “Board” herein will be deemed references to such committee or plan administrator. Nothing contained herein shall prevent the Board
        from adopting other or additional Share Compensation Arrangements or other compensation arrangements from time to time, subject to any required approval.

     

    (2) Subject to Article 9 hereof and any applicable rules of a Stock Exchange, the Board may, from time to time, as it may deem expedient, adopt,
        amend and rescind rules and regulations or vary the terms of this Plan and/or any Award hereunder for carrying out the provisions and purposes of the Plan and/or to address tax or other requirements of any applicable jurisdiction.

     

    (3) Subject to the provisions herein, the Board is authorized, in its sole discretion, to make such determinations under, and such
        interpretations of, and take such steps and actions in connection with, the proper administration and operations of the Plan as it may deem necessary or advisable. The Board may delegate to officers or managers of the Company, or committees
        thereof, the authority, subject to such terms as the Board shall determine, to perform such functions, as the Board may determine from time to time. Any such delegation by the Board may be revoked at any time at the Board’s sole discretion. The
        interpretation, administration, construction and application of the Plan and any provisions hereof made by the Board, or by any officer, manager, committee or any other Person to which the Board delegated authority to perform such functions, shall
        be final and binding on the Company, its Subsidiaries and all Eligible Participants.

     

    
      - 8 -

      
        

    

    (4) No member of the Board or any Person acting pursuant to authority delegated by the Board hereunder shall be liable for any action or
        determination taken or made in good faith in the administration, interpretation, construction or application of the Plan or any Award granted hereunder. Members of the Board, and any Person acting at the direction or on behalf of the Board, shall,
        to the extent permitted by law, be fully indemnified and protected by the Company with respect to any such action or determination.

     

    (5) The Plan shall not in any way fetter, limit, obligate, restrict or constrain the Board with regard to the allotment or issuance of any
        Shares, Multiple Voting Shares or any other securities in the capital of the Company. For greater clarity, the Company shall not by virtue of this Plan be in any way restricted from declaring and paying stock dividends, repurchasing Shares,
        Multiple Voting Shares or any other securities in its share capital, or varying or amending its share capital or corporate structure.

     

    
      Section 2.3   Participation in this Plan.

    

     

    (1) The Company makes no representation or warranty as to the future market value of the Shares or with respect to any income tax matters
        affecting any Participant resulting from the grant, vesting or settlement of an Award, the exercise of an Option or resulting from any transactions in the Shares or any other event affecting the Awards. With respect to any fluctuations in the
        market price of the Shares, neither the Company, nor any of its directors, officers, employees, shareholders or agents shall be liable for anything done or omitted to be done by such Person or any other Person with respect to the price, time,
        quantity or other conditions and circumstances of the issuance of Shares hereunder, or in any other manner related to the Plan. For greater certainty, no amount will be paid to, or in respect of, a Participant under the Plan or pursuant to any
        other arrangement, and no additional Awards will be granted to such Participant to compensate for a downward fluctuation in the price of the Shares, nor will any other form of benefit be conferred upon, or in respect of, a Participant for such
        purpose. The Company and its Affiliates do not assume responsibility for the income or other tax consequences resulting to any Participant and each Participant is advised to consult with his or her own tax advisors.

     

    (2) Participants (and their legal representatives and the liquidator, executor or administrator, as the case may be, of their respective estate)
        shall have no legal or equitable right, claim, or interest in any specific property or asset of the Company or any of its Affiliates. No asset of the Company or any of its Affiliates shall be held in any way as collateral security for the
        fulfillment of the obligations of the Company or any of its Affiliates under this Plan. Unless otherwise determined by the Board, this Plan shall be an unfunded obligation of the Company and its Affiliates (as applicable). To the extent any
        Participant or his or her estate holds any rights by virtue of a grant of Awards under this Plan, such rights (unless otherwise determined by the Board) shall be general unsecured obligations and shall not be greater than the rights of an unsecured
        creditor of the Company.

     

    
      - 9 -

      
        

    

    (3) Unless otherwise determined by the Board, the Company shall not offer financial assistance to any Participant in regards to the exercise of
        any Award granted under this Plan.

     

    
      Section 2.4    Shares Available for Option Grants.

    

     

    (1) The maximum number of Shares available for issuance, in the aggregate, under this Plan (including the original form and the prior amended and
        restated form of this Plan) and the Legacy Option Plans shall not exceed fifteen percent (15%) of the aggregate number of Shares and Multiple Voting Shares issued and outstanding from time to time (calculated on a non‐diluted basis); of which not more than 13,800,000 Shares may be issued pursuant to the exercise of Incentive Stock Options granted under the Plan. Any Shares subject to an Award which has been exercised or settled in Shares will again be available for issuance under the Plan. The number of Shares available for issuance under the Plan will increase as the number
        of issued and outstanding Shares increases from time to time.

     

    (2) No Award that can be settled in Shares issued from treasury may be granted if such grant would have the effect of causing the total number of
        Shares underlying Awards made under this Plan and awards made under the Legacy Option Plans to exceed the above-noted number of Shares reserved for issuance under this Plan and the Legacy Option Plans. For greater certainty, Section 2.4(1) shall
        not limit the Company’s ability to issue Awards that are payable other than in Shares issued from treasury. Shares will not be deemed to have been issued pursuant to the Plan with respect to any portion of an Award that is settled in cash. The
        Board may also cause Shares used to satisfy the settlement of PSUs, RSUs or DSUs granted under the Plan to be purchased instead on the open market.

     

    (3) The Company shall, at all times during the term of this Plan, ensure that the number of Shares it is authorized to issue is sufficient to
        satisfy the requirement of this Plan and the Legacy Option Plans; provided that awards will no longer be granted under the Legacy Option Plans, as of the effective date of the original form of this Plan.

     

    (4) If an outstanding Award (or portion thereof) under this Plan or an outstanding Legacy Option under one of the Legacy Option Plans expires or
        is forfeited, surrendered, cancelled or otherwise terminated for any reason without having been exercised or settled in full, or if Shares acquired pursuant to an Award or Legacy Option subject to forfeiture are forfeited, the Shares covered by
        such Award or Legacy Option, if any, will again be available for issuance under the Plan.

     

    (5) No fractional Shares shall be issued upon the exercise of any Award granted under the Plan and, accordingly, if a Participant would otherwise
        become entitled to a fractional Share upon the exercise of such Award, or from an adjustment permitted by the terms of this Plan, such Participant shall only have the right to receive the next lowest whole number of Shares, and no payment or other
        adjustment will be made with respect to the fractional interest so disregarded.

     

    
      - 10 -

      
        

    

    (6) For the purposes of Section 2.4(1), in the event that the Company cancels or purchases to cancel any of its issued and outstanding Shares or
        Multiple Voting Shares and as a result of such cancellation or purchase, the Shares issuable under the Plan exceed the maximum number of Shares set out in Section 2.4(1), no approval of the shareholders of the Company shall be required for the
        issuance of Shares on the exercise or settlement of any Awards which were granted prior to such cancellation or purchase.

     

    (7) For the purposes of Section 2.4(1), Shares issuable in reliance upon an exemption from the rules of a Stock Exchange applicable to
        security-based compensation arrangements used as an inducement to persons or entities not previously employed by and not previously an Insider of the Company shall not be included in the determination of the maximum number of Shares issuable under
        the Plan set out in Section 2.4(1), it being understood that, notwithstanding the foregoing, such security-based compensation arrangements can be made otherwise subject to the terms and conditions prescribed under this Plan.

     

    
      Section 2.5   Limits with Respect to Insiders.

    

     

    (1) The maximum number of Shares issuable from treasury to Eligible Participants who are Insiders, at any time, under this Plan, the Legacy
        Option Plans and any other proposed or established Share Compensation Arrangement, shall not exceed ten percent (10%) of the Shares and Multiple Voting Shares issued and outstanding from time to time (calculated on a non‐diluted basis).

     

    (2) The maximum number of Shares issued from treasury to Eligible Participants who are Insiders, within any one-year period, under this Plan, the
        Legacy Option Plans and any other proposed or established Share Compensation Arrangement, shall not exceed ten percent (10%) of the Shares and Multiple Voting Shares issued and outstanding from time to time (calculated on a non-diluted basis).

     

    (3) Any Award granted pursuant to the Plan, or securities issued under the Legacy Option Plans and any other Share Compensation Arrangement,
        prior to a Participant becoming an Insider, shall be excluded from the purposes of the limits set out in Section 2.5(1) and Section 2.5(2).

     

    
      Section 2.6    Limits with Respect to Non-Employee Directors.

    

     

    (1) The maximum number of Shares issuable from treasury to Eligible Participants who are Non-Employee
        Directors, at any time, under this Plan, the Legacy Option Plans and any other proposed or established Share Compensation Arrangement, shall not exceed one percent (1%) of the Shares and Multiple Voting Shares issued and outstanding from time to
        time (calculated on a non‐diluted basis).

     

    
      Section 2.7    Granting of Awards.

    

     

    (1) Any Award granted under the Plan shall be subject to the requirement that, if at any time counsel to the Company shall determine that the
        listing, registration or qualification of the Shares subject to such Award, if applicable, upon any securities exchange or under any law or regulation of any jurisdiction, or the consent or approval of any securities exchange or any governmental or
        regulatory body, is necessary as a condition of, or in connection with, the grant of such Awards or the exercise of any Option or the issuance or purchase of Shares thereunder, if applicable, such Award may not be accepted or exercised in whole or
        in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained on conditions acceptable to the Board. Nothing herein shall be deemed to require the Company to apply for or to obtain such listing,
        registration, qualification, consent or approval.

     

    
      - 11 -

      
        

    

    (2) The Company may require, as a condition to the exercise of an Award or the delivery of Shares under an Award, such representations or
        agreements as counsel for the Company may consider appropriate to avoid violation of the U.S. Securities Act of 1933, as amended, or any applicable state or non-U.S. securities law. Any Shares required to
        be issued to Participants under the Plan will be evidenced in such manner as the Board may deem appropriate, including book-entry registration or delivery of share certificates. In the event that the Board determines that share certificates will be
        issued to Participants under the Plan, the Board may require that certificates evidencing Shares issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Shares, and the Company may hold the share
        certificates pending lapse of the applicable restrictions.

     

    ARTICLE 3

    OPTIONS

     

    
      Section 3.1    Nature of Options.

    

     

    An Option is a right granted by the Company from time to time to a Participant entitling such Participant to acquire a designated number of Shares from treasury at the Option Price,
      but subject to the provisions hereof and the provisions of the applicable Option Agreement. For the avoidance of doubt, no Dividend Equivalents shall be granted in connection with an Option.

     

    
      Section 3.2    Option Awards.

    

     

    Subject to the provisions set forth in this Plan and any shareholder or regulatory approval which may be required, the Board shall, from time to time, by resolution, in its sole discretion, (i)
      designate the Eligible Participants who may receive Options under the Plan, (ii) fix the number of Options, if any, to be granted to each Eligible Participant and the date or dates on which such Options shall be granted, (iii) determine the price per
      Share to be payable upon the exercise of each such Option (the “Option Price”), the relevant vesting provisions (including Performance Criteria, if applicable), the Option Term, the date(s) and the manner in
      which Options may be exercised during the Option Term and all other option conditions, the whole subject to the terms and conditions prescribed in this Plan or in the applicable Option Agreement, and any applicable rules of a Stock Exchange.

     

    
      Section 3.3    Option Price.

    

     

    The Option Price for Shares that are the subject of any Option shall be determined and approved by the Board when such Option is granted, but shall not be less than the Market Value of such Shares at
      the time of the grant.

     

    
      - 12 -

      
        

    

    
      Section 3.4    Option Term.

    

     

    (1) The Board shall determine, at the time of granting the particular Option, the period during which the Option is exercisable, which shall not
        be more than ten (10) years from the date the Option is granted (the “Option Term”). Unless otherwise determined by the Board, all unexercised Options shall be cancelled at the expiry of such Options.

     

    (2)  Should the expiration date for an Option fall within a Black-Out Period, such expiration date shall be automatically extended without any
        further act or formality to that date which is the tenth (10th) Business Day after the end of the Black-Out Period, such tenth (10th) Business Day to be considered the expiration date for such Option for all purposes under the Plan. Notwithstanding Section 9.3 hereof, the ten (10) Business Day period referred to in Section 3.4(2)
        may not be extended by the Board.

     

    
      Section 3.5    Exercise of Options.

    

     

    Prior to expiration or earlier termination in accordance with the Plan, each Option shall be exercisable at such time or times and/or pursuant to the achievement of such Performance Criteria and/or
      other vesting conditions as the Board at the time of granting the particular Option may determine in its sole discretion. For the avoidance of doubt, any exercise of Options by a Participant shall be made in accordance with the Company’s insider trading policy.

     

    
      Section 3.6    Method of Exercise and Payment of Option Price.

    

     

    (1) Subject to the provisions of the Plan and the applicable Option Agreement, an Option granted under the Plan shall be exercisable (from time
        to time as provided in Section 3.5 hereof) by the Participant (or by the liquidator, executor or administrator, as the case may be, of the estate of such Participant) by delivering a fully completed Exercise Notice to the Company at its registered
        office to the attention of the Corporate Secretary of the Company (or the individual that the Corporate Secretary of the Company may from time to time designate) or by giving notice in such other manner as the Company may from time to time
        designate, which notice shall specify the number of Shares in respect of which the Option is being exercised and shall, if applicable, be accompanied by full payment, by cash, certified cheque, bank draft or any other form of payment deemed
        acceptable by the Company of the Option Price for the number of Shares specified therein and, if required by Section 10.2, the amount necessary to satisfy any taxes. Unless otherwise determined by the Board, payment of the Option Price must be
        provided no later than three (3) Business Days following delivery by the Participant of the Exercise Notice to the Company.

     

    (2) Upon the exercise of any Option, the Company shall, as soon as practicable after such exercise but no later than ten (10) Business Days
        following such exercise, forthwith cause the transfer agent and registrar of the Shares either to:

     

    	

          	(a)	
            deliver to the Participant (or to the liquidator, executor or administrator, as the case may be, of the estate of such Participant) a certificate in the name of the Participant representing in the aggregate
              such number of Shares as the Participant (or to the liquidator, executor or administrator, as the case may be, of the estate of such Participant) shall have then paid for and as are specified in such Exercise Notice; or

          

     

    
      - 13 -

      
        

    

    	

          	(b)	
            in the case of Shares issued in uncertificated form, cause the issuance of the aggregate number of Shares as the Participant (or the liquidator, executor or administrator, as the case may be, of the estate of
              such Participant) shall have then paid for and as are specified in such Exercise Notice to be evidenced by a book position on the register of the shareholders of the Company to be maintained by the transfer agent and registrar of the Shares.

          

     

    
      Section 3.7    Grant of Incentive Stock Options.

    

     

    At the time of the grant of any Option, the Board may in its discretion designate that such Option shall be made subject to additional restrictions to permit it to qualify as an Incentive Stock
      Option.  Any Option designated as an Incentive Stock Option:

     

    	

          	(a)	
            shall be granted only to an employee of the Company or a Subsidiary Corporation;

          

     

    	

          	(b)	
            shall have an Option Price of not less than 100% of the Market Value of a Share on the date the Incentive Stock Option is granted, and, if granted to a person who owns capital stock (including stock treated as
              owned under Section 424(d) of the U.S. Code) possessing more than 10% of the total combined voting power of all classes of capital stock of the Company or any Subsidiary Corporation (a “More Than 10% Owner”),

              have an Option Price not less than 110% of the Market Value of a Share on its Grant Date;

          

     

    	

          	(c)	
            shall have an Option Term of not more than 10 years (5 years if the Eligible Participant is a More Than 10% Owner) from the date the Option is granted, and shall be subject to earlier termination as provided
              herein or in the applicable Grant Agreement;

          

     

    	

          	(d)	
            shall not have an aggregate Market Value (as of the date of grant) of the Shares with respect to which Incentive Stock Options (whether granted under the Plan or any other stock option plan of the Eligible
              Participant’s employer or any Subsidiary Corporation (“Other Plans”)) are exercisable for the first time by such Eligible Participant during any calendar year (“Current
                Grant”), determined in accordance with the provisions of Section 422 of the U.S. Code, which exceeds US$100,000 (the “US$100,000 Limit”);

          

     

    	

          	(e)	
            shall, if the aggregate Market Value of the Shares (determined as of the date of grant) with respect to the Current Grant and all Incentive Stock Options previously granted under the Plan and any Other Plans
              which are exercisable for the first time during a calendar year (“Prior Grants”) would exceed the US$100,000 Limit, be, as to the portion in excess of the US$100,000 Limit, exercisable as a separate
              option that is not an Incentive Stock Option at such date or dates as are provided in the Current Grant;

          

     

    
      - 14 -

      
        

    

    	

          	(f)	
            shall require the Eligible Participant to notify the Company of any disposition of any Shares delivered pursuant to the exercise of the Incentive Stock Option under the circumstances described in Section 421(b)
              of the U.S. Code (relating to holding periods and certain disqualifying dispositions) (“Disqualifying Disposition”) within 10 days of such a Disqualifying Disposition;

          

     

    	

          	(g)	
            shall by its terms not be assignable or transferable other than by will or the laws of descent and distribution and may be exercised, during the Eligible Participant’s lifetime, only by the Eligible
              Participant; provided, however, that the Eligible Participant may, to the extent provided in the Plan in any manner specified by the Committee, designate in writing a beneficiary to exercise his or her Incentive Stock Option after the
              Eligible Participant’s death; and

          

     

    	

          	(h)	
            shall, if such Option nevertheless fails to meet the foregoing requirements, or otherwise fails to meet the requirements of Section 422 of the U.S. Code for an Incentive Stock Option, be treated for all
              purposes of this Plan, except as otherwise provided in subsections (d) and (e) above, as an Option that is not an Incentive Stock Option.

          

     

    Notwithstanding the foregoing, the Board may, without the consent of the Eligible Participant, at any time before the exercise of an Option (whether or not an Incentive Stock Option), take any action
      necessary to prevent such Option from being treated as an Incentive Stock Option.

     

    
      Section 3.8    Option Agreements.

    

     

    Options shall be evidenced by an Option Agreement, in such form not inconsistent with the Plan as the Board may from time to time determine. The Option Agreement shall contain such terms and
      conditions that may be considered necessary in order for the Options to comply with any provisions respecting options contained in any income tax laws or any other laws in force in any country or jurisdiction of which the Participant may from time to
      time be a resident or citizen or the rules of any regulatory body having jurisdiction over the Company.

     

    ARTICLE 4

    PERFORMANCE SHARE UNITS

     

    
      Section 4.1    Nature of PSUs.

    

     

    A PSU is an Award that, upon vesting, entitles the Participant to receive (i) a Share (issued from treasury or purchased on the open market), (ii) the Cash Equivalent or (iii) a combination thereof,
      as the case may be, and whose grant or vesting is in whole or in part conditional on the attainment of specific Performance Criteria, all pursuant to and subject to such conditions as the Board may determine at the time of grant.

     

    
      - 15 -

      
        

    

    
      Section 4.2    PSU Awards.

    

     

    (1) Subject to the provisions herein set forth and any shareholder or regulatory approval which may be required, the Board shall, at any time and
        from time to time, in its sole discretion, (i) designate the Eligible Participants who may receive PSUs under the Plan, (ii) fix the number of PSUs, if any, to be granted to each Eligible Participant and the date or dates on which such PSUs shall
        be granted, (iii) determine the relevant conditions and vesting provisions (including the applicable Performance Period and Performance Criteria) and the Restriction Period of such PSUs, the whole subject to the terms and condition prescribed in
        this Plan and in the applicable PSU Agreement.

     

    (2) In making such determination, the Board shall consider the timing of crediting PSUs, including crediting PSUs in connection with Dividend
        Equivalents, to a Participant’s Account, the vesting requirements and settlement timing applicable to such PSUs to ensure that the crediting of the PSUs to the Participant’s Account, the vesting requirements and settlement timing are not considered
        a “salary deferral arrangement” for the purposes of the Tax Act and any applicable provincial legislation.

     

    (3) Subject to the vesting and other conditions and provisions herein set forth and in the applicable PSU Agreement (including the applicable
        Performance Period and Performance Criteria), each PSU awarded to a Participant shall entitle the Participant to receive (i) a Share (issued from treasury or purchased on the open market), (ii) the Cash Equivalent or (iii) a combination thereof, as
        the case may be, upon determination by the Board on the Share Unit Vesting Determination Date that the vesting conditions (including the Performance Criteria) have been met and no later than the last day of the applicable Restriction Period.

     

    
      Section 4.3    Vesting of PSUs.

    

     

    Subject to the terms of this Plan and the applicable PSU Agreement, after the applicable Performance Period has ended, the holder of PSUs shall be entitled to receive payout on the value and number
      of PSUs, determined by the Board on the applicable Share Unit Vesting Determination Date as a function of the extent to which the corresponding Performance Criteria have been achieved. After the Board has determined that the Performance Criteria
      relating to PSUs credited to a Participant’s Account with respect to a Performance Period have been achieved, such PSUs shall entirely vest and be paid in accordance with Section 4.4. Notwithstanding any provision to the contrary in this Plan or the
      applicable PSU Agreement, the Board may, in its sole discretion, make adjustments to the calculation of any PSUs granted to Participants based on its assessment of the risk level, events that may impact the value of the PSUs or when calculations do
      not properly reflect all of the relevant considerations. Unless otherwise determined by the Board, all PSUs credited to a Participant’s Account with respect to a Performance Period, in respect of which the Performance Criteria have not been achieved,
      shall automatically be forfeited and be cancelled on the Share Unit Vesting Determination Date and, in any event, no later than the last day of the Restriction Period.

     

    
      - 16 -

      
        

    

    
      Section 4.4    Settlement of PSUs.

    

     

    (1) The applicable settlement period in respect of a particular PSU shall be determined by the Board. Except as otherwise provided in a PSU
        Agreement or any other provision of this Plan, all vested PSUs shall be settled as soon as practicable following the applicable Share Unit Vesting Determination Date but in all cases prior to the last day of the Restriction Period (the “PSU Settlement Date”). Following the receipt of such settlement, the PSU so settled shall be of no value whatsoever and shall be removed from the Participant’s Account.

     

    (2) The Board, in its sole discretion, may settle at the end of the applicable Performance Period vested PSUs by providing a Participant (or to
        the liquidator, executor or administrator, as the case may be, of the estate of the Participant) with:

     

    	

          	(a)	
            in the case of settlement of PSUs for their Cash Equivalent, delivery of a cheque or any other form of payment deemed acceptable by the Board to the Participant representing the Cash Equivalent;

          

     

    	

          	(b)	
            in the case of settlement of PSUs for Shares, delivery of Shares issued from treasury or purchased on the Participant’s behalf on the open market;

          

     

    	

          	(c)	
            in the case of settlement of the PSUs for a combination of Shares and the Cash Equivalent, a combination of (a) and (b) above,

          

     

    each equivalent in value to the vested PSUs.

     

    
      Section 4.5    Determination of Amounts.

    

     

    (1) For purposes of determining the Cash Equivalent of PSUs to be made pursuant to Section 4.4, such calculation will be made on the PSU
        Settlement Date based on the Market Value on the PSU Settlement Date multiplied by the number of vested PSUs in the Participant’s Account to settle in cash.

     

    (2) For the purposes of determining the number of Shares to be issued or delivered to a Participant upon settlement of PSUs pursuant to Section
        4.4, such calculation will be made on the PSU Settlement Date based on the whole number of Shares equal to the whole number of vested PSUs then recorded in the Participant’s Account to settle in Shares.

     

    
      Section 4.6    PSU Agreements

    

     

    PSUs shall be evidenced by a PSU Agreement, in such form not inconsistent with the Plan as the Board may from time to time determine. The PSU Agreement shall contain such terms that may be considered
      necessary in order that the PSU will comply with any provisions respecting performance share units in the income tax or other laws in force in any country or jurisdiction of which the Participant may from time to time be a resident (for tax purposes)
      or a citizen or the rules of any regulatory body having jurisdiction over the Company.

     

    
      - 17 -

      
        

    

    
      Section 4.7 Grant of Dividend Equivalents

    

     

    (1) Dividend Equivalents shall be awarded in respect of all PSUs in a Participant’s Account every time dividends (other than share dividends) are
        paid on the Shares. On the Dividend Payment Date, the Company shall credit an additional number of PSUs to the Participant’s Account determined as per the following formula: (A x B)/C where:

     

    “A” represents the amount of the dividend per Share declared and paid on the Shares by the Company;

     

    “B” represents the number of PSUs listed in the Participant’s Account on the Dividend Payment Date; and

     

    “C” represents the Market Value of one Share on the Dividend Payment Date.

     

    (2) Any additional PSUs credited to a Participant’s Account as a Dividend Equivalent pursuant to this Section 4.7 shall be subject to the same
        applicable Share Unit Vesting Determination Date, Performance Period, Performance Criteria and vesting conditions as the related PSUs in respect of which such additional PSUs are credited.

     

    ARTICLE 5

    RESTRICTED SHARE UNITS

     

    
      Section 5.1    Nature of RSUs.

    

     

    An RSU is an Award that, upon vesting, entitles the Participant to receive (i) a Share (issued from treasury or purchased on the open market), (ii) the Cash Equivalent or (iii) a combination thereof,
      as the case may be, all pursuant and subject to such restrictions and conditions as the Board may determine at the time of grant. Conditions may be based on continuing employment (or other service relationship) and/or achievement of Performance
      Criteria or other pre‐established vesting conditions and objectives.

     

    
      Section 5.2    RSU Awards.

    

     

    (1) Subject to the provisions herein set forth and any shareholder or regulatory approval which may be required, the Board shall, from time to
        time, in its sole discretion, (i) designate the Eligible Participants who may receive RSUs under the Plan, (ii) fix the number of RSUs, if any, to be granted to each Eligible Participant and the date or dates on which such RSUs shall be granted,
        (iii) determine the relevant conditions and vesting provisions (including the applicable Performance Period and Performance Criteria, if any) and the Restriction Period of such RSUs, the whole subject to the terms and conditions prescribed in this
        Plan and in the applicable RSU Agreement.

     

    (2) In making such determination, the Board shall consider the timing of crediting RSUs, including crediting RSUs in connection with Dividend
        Equivalents, to a Participant’s Account, the vesting requirements and settlement timing applicable to such RSUs to ensure that the crediting of the RSUs to the Participant’s Account, the vesting requirements and settlement timing are not considered
        a “salary deferral arrangement” for the purposes of the Tax Act and any applicable provincial legislation.

     

    
      - 18 -

      
        

    

    (3) Subject to the vesting and other conditions and provisions herein set forth and in the applicable RSU Agreement, each RSU awarded to a
        Participant shall entitle the Participant to receive (i) a Share (issued from treasury or purchased on the open market), (ii) the Cash Equivalent or (iii) a combination thereof, as the case may be, upon determination by the Board on the Share Unit
        Vesting Determination Date that the vesting conditions (including the Performance Criteria, if any) have been met and no later than the last day of the applicable Restriction Period.

     

    
      Section 5.3    Vesting of RSUs.

    

     

    Subject to the terms of this Plan and the applicable RSU Agreement, after the applicable vesting period has ended, the holder of RSUs shall be entitled to receive payout on the value and number of
      RSUs, determined by the Board on the applicable Share Unit Vesting Determination Date as a function of the extent to which the corresponding vesting criteria, including Performance Criteria, if any, have been achieved. After the Board has determined
      that the vesting criteria relating to RSUs credited to a Participant’s Account have been achieved, such RSUs shall entirely vest and be paid in accordance with Section 5.4. Notwithstanding any provision to the contrary in this Plan or the applicable
      RSU Agreement, the Board may, in its sole discretion, make adjustments to the calculation of any RSUs granted to Participants based on its assessment of the risk level, events that may impact the value of the RSUs or when calculations do not properly
      reflect all of the relevant considerations. Unless otherwise determined by the Board, all RSUs credited to a Participant’s Account in respect of which the vesting criteria have not been achieved, shall automatically be forfeited and be cancelled on
      the Share Unit Vesting Determination Date and, in any event, no later than the last day of the Restriction Period.

     

    
      Section 5.4    Settlement of RSUs.

    

     

    (1) The applicable settlement period in respect of a particular RSU shall be determined by the Board. Except as otherwise provided in an RSU
        Agreement or any other provision of this Plan, all vested RSUs shall be settled as soon as practicable following the applicable Share Unit Vesting Determination Date but in all cases prior to the last day of the Restriction Period (the “RSU Settlement Date”). Following the receipt of such settlement, the RSU so settled shall be of no value whatsoever and shall be removed from the Participant’s Account.

     

    (2) The Board, in its sole discretion, may settle vested RSUs by providing a Participant (or to the liquidator, executor or administrator, as the
        case may be, of the estate of the Participant) with:

     

    	

          	(a)	
            in the case of settlement of RSUs for their Cash Equivalent, delivery of a cheque or any other form of payment deemed acceptable by the Board to the Participant representing the Cash Equivalent;

          

     

    	

          	(b)	
            in the case of settlement of RSUs for Shares, delivery of Shares issued from treasury or purchased on the Participant’s behalf on the open market;

          

     

    
      - 19 -

      
        

    

    	

          	(c)	
            in the case of settlement of the RSUs for a combination of Shares and the Cash Equivalent, a combination of (a) and (b) above,

          

     

    each equivalent in value to the vested RSUs.

     

    
      Section 5.5    Determination of Amounts.

    

     

    (1) For purposes of determining the Cash Equivalent of RSUs to be made pursuant to Section 5.4, such calculation will be made on the RSU
        Settlement Date based on the Market Value on the RSU Settlement Date multiplied by the number of vested RSUs in the Participant’s Account to settle in cash.

     

    (2) For the purposes of determining the number of Shares to be issued or delivered to a Participant upon settlement of RSUs pursuant to Section
        5.4, such calculation will be made on the RSU Settlement Date based on the whole number of Shares equal to the whole number of vested RSUs then recorded in the Participant’s Account to settle in Shares.

     

    
      Section 5.6    RSU Agreements.

    

     

    RSUs shall be evidenced by an RSU Agreement, in such form not inconsistent with the Plan as the Board may from time to time determine. The RSU Agreement shall contain such terms that may be
      considered necessary in order that the RSU will comply with any provisions respecting restricted share units in the income tax or other laws in force in any country or jurisdiction of which the Participant may from time to time be a resident or
      citizen or the rules of any regulatory body having jurisdiction over the Company.

     

    
      Section 5.7    Grant of Dividend Equivalents.

    

     

    (1) Dividend Equivalents shall be awarded in respect of all RSUs in a Participant’s Account every time dividends (other than share dividends) are
        paid on the Shares. On the Dividend Payment Date, the Company shall credit an additional number of RSUs, if any, to the Participant’s Account determined as per the following formula: (A x B)/C where:

     

    “A” represents the amount of the dividend per Share declared and paid on the Shares by the Company;

     

    “B” represents the number of RSUs listed in the Participant’s Account on the Dividend Payment Date; and

     

    “C” represents the Market Value of one Share on the Dividend Payment Date.

     

    (2) Any additional RSUs credited to a Participant’s Account as a Dividend Equivalent pursuant to this Section 5.7 shall be subject to the same
        applicable Share Unit Vesting Determination Date and vesting conditions as the related RSUs in respect of which such additional RSUs are credited.

     

    
      - 20 -

      
        

    

    ARTICLE 6

    DEFERRED SHARE UNITS

     

    
      Section 6.1    Nature of DSUs.

    

     

    A DSU is an Award that, upon vesting, entitles the Participant to receive (i) a Share (issued from treasury or purchased on the open market), (ii) to receive the Cash Equivalent or (iii) to receive a
      combination thereof, as the case may be, all pursuant and subject to such restrictions and conditions as the Board may determine at the time of grant. Conditions may be based on continuing employment (or other service relationship) and/or other
      pre-established vesting conditions and objectives.

     

    
      Section 6.2    DSU Awards.

    

     

    (1) Subject to the provisions herein set forth and any shareholder or regulatory approval which may be required, the Board shall, from time to
        time, in its sole discretion, (i) designate the Eligible Participants who may receive DSUs under the Plan, (ii) fix the number of DSUs, if any, to be granted to each Eligible Participant and the date or dates on which such DSUs shall be granted,
        (iii) determine the relevant conditions and any vesting provisions and the Restriction Period of such DSUs, the whole subject to the terms and conditions prescribed in this Plan and in any applicable DSU Agreement.

     

    (2) In making such determination, the Board shall consider the timing of crediting DSUs, including crediting DSUs in connection with Dividend
        Equivalents, to a Participant’s Account, any vesting requirements and settlement timing applicable to such DSUs to ensure that the crediting of the DSUs to the Participant’s Account, any vesting requirements and settlement timing are compliant with
        Regulation 6801(d) under the Tax Act and any applicable provincial legislation.

     

    (3) Subject to any vesting and other conditions and provisions herein set forth and in the applicable DSU Agreement, if any, each DSU awarded to
        a Participant shall entitle the Participant to receive (i) a Share (issued from treasury or purchased on the open market), (ii) the Cash Equivalent or (iii) a combination thereof, as the case may be, upon determination by the Board on the Share
        Unit Vesting Determination Date that any applicable vesting conditions have been met and no later than the last day of the applicable Restriction Period.

     

    
      Section 6.3    Vesting of DSUs.

    

     

    Except as otherwise determined by the Board or as provided in the applicable DSU Agreement, if any, DSUs shall entirely vest on the date of grant. Subject to the terms of this Plan and the applicable
      DSU Agreement, if any, after the applicable vesting period, if any, has ended and after the Participant’s Termination Date, the holder of DSUs shall be entitled to receive payout on the value and number of DSUs, determined by the Board on the
      applicable Share Unit Vesting Determination Date as a function of the extent to which the corresponding vesting criteria, if any, have been achieved. After the Board has determined that the vesting criteria, if any, relating to DSUs credited to a
      Participant’s Account have been achieved, such DSUs shall entirely vest and be paid in accordance with Section 6.4. Notwithstanding any provision to the contrary in this Plan or any applicable DSU Agreement, the Board may, in its sole discretion,
      make adjustments to the calculation of any DSUs granted to Participants based on its assessment of the risk level, events that may impact the value of the DSUs or when calculations do not properly reflect all of the relevant considerations. Unless
      otherwise determined by the Board, all DSUs credited to a Participant’s Account in respect of which any vesting criteria have not been achieved shall automatically be forfeited and be cancelled on the Share Unit Vesting Determination Date and, in any
      event, no later than the last day of the Restriction Period.

     

    
      - 21 -

      
        

    

    
      Section 6.4    Settlement of DSUs.

    

     

    (1) The applicable settlement period in respect of a particular DSU shall be determined by the Board, provided however that in no case shall DSUs
        be settled prior to the Termination Date of a Participant. Except as otherwise provided in any DSU Agreement or any other provision of this Plan, all vested DSUs shall be settled as soon as practicable following the applicable Share Unit Vesting
        Determination Date but in all cases prior to the last day of the Restriction Period (the “DSU Settlement Date”). Following the receipt of such settlement, the DSU so settled shall be of no value whatsoever
        and shall be removed from the Participant’s Account.

     

    (2) The Board, in its sole discretion, may settle vested DSUs by providing a Participant (or to the liquidator, executor or administrator, as the
        case may be, of the estate of the Participant) with:

     

    	

          	(a)	
            in the case of settlement of DSUs for their Cash Equivalent, delivery of a cheque or any other form of payment deemed acceptable by the Board to the Participant representing the Cash Equivalent;

          

     

    	

          	(b)	
            in the case of settlement of DSUs for Shares, delivery of Shares issued from treasury or purchased on the Participant’s behalf on the open market;

          

     

    	

          	(c)	
            in the case of settlement of the DSUs for a combination of Shares and the Cash Equivalent, a combination of (a) and (b) above,

          

     

    each equivalent in value to the vested DSUs.

     

    
      Section 6.5    Determination of Amounts.

    

     

    (1) For purposes of determining the Cash Equivalent of DSUs to be made pursuant to Section 6.4, such calculation will be made on the DSU
        Settlement Date based on the Market Value on the DSU Settlement Date multiplied by the number of vested DSUs in the Participant’s Account to settle in cash.

     

    (2) For the purposes of determining the number of Shares to be issued or delivered to a Participant upon settlement of DSUs pursuant to Section
        6.4, such calculation will be made on the DSU Settlement Date based on the whole number of Shares equal to the whole number of vested DSUs then recorded in the Participant’s Account to settle in Shares.

     

    
      - 22 -

      
        

    

    
      Section 6.6    DSU Agreements.

    

     

    DSUs may be evidenced by a DSU Agreement, in such form not inconsistent with the Plan as the Board may from time to time determine. The DSU Agreement may contain such terms that may be considered
      necessary in order that the DSU will comply with any provisions respecting deferred share units in the income tax or other laws in force in any country or jurisdiction of which the Participant may from time to time be a resident or citizen or the
      rules of any regulatory body having jurisdiction over the Company.

     

    
      Section 6.7    Grant of Dividend Equivalents.

    

     

    (1) Dividend Equivalents shall be awarded in respect of all DSUs in a Participant’s Account every time dividends (other than share dividends) are
        paid on the Shares. On the Dividend Payment Date, the Company shall credit an additional number of DSUs, if any, to the Participant’s Account determined as per the following formula: (A x B)/C where:

     

    “A” represents the amount of the dividend per Share declared and paid on the Shares by the Company;

     

    “B” represents the number of DSUs listed in the Participant’s Account on the Dividend Payment Date; and

     

    “C” represents the Market Value of one Share on the Dividend Payment Date.

     

    (2) Any additional DSUs credited to a Participant’s Account as a Dividend Equivalent pursuant to this Section 6.7 shall be subject to the same
        applicable Share Unit Vesting Determination Date and vesting conditions, if any, as the DSUs in respect of which such additional DSUs are credited.

     

    ARTICLE 7

    GENERAL CONDITIONS

     

    
      Section 7.1    General Conditions applicable to Awards.

    

     

    Each Award, as applicable, shall be subject to the following conditions:

     

    (1) Vesting Period. Each Award granted hereunder shall vest in accordance with the terms of the Grant
        Agreement entered into in respect of such Award. Subject to the terms and conditions of a Participant’s employment agreement, if any, the Board has the right to accelerate the date upon which any Award becomes exercisable notwithstanding the
        vesting schedule set forth for such Award, regardless of any adverse or potentially adverse tax consequence resulting from such acceleration.

     

    (2) Employment. Notwithstanding any express or implied term of this Plan to the contrary, the granting of
        an Award pursuant to the Plan shall in no way be construed as a guarantee by the Company or a Subsidiary to the Participant of employment or another service relationship with the Company or a Subsidiary. The granting of an Award to a Participant
        shall not impose upon the Company or a Subsidiary any obligation to retain the Participant in its employ or service in any capacity. Nothing contained in this Plan or in any Award granted under this Plan shall interfere in any way with the rights
        of the Company or any of its Affiliates in connection with the employment, retention or termination of any such Participant. The loss of existing or potential profit in Shares underlying Awards granted under this Plan shall not constitute an
        element of damages in the event of termination of a Participant’s employment or service in any office or otherwise.

     

    
      - 23 -

      
        

    

    (3) Grant of Awards. Eligibility to participate in this Plan does not confer upon any Eligible
        Participant any right to be granted Awards pursuant to this Plan. Granting Awards to any Eligible Participant does not confer upon any Eligible Participant the right to receive nor preclude such Eligible Participant from receiving any additional
        Awards at any time. The extent to which any Eligible Participant is entitled to be granted Awards pursuant to this Plan will be determined in the sole discretion of the Board. Participation in the Plan shall be entirely voluntary and any decision
        not to participate shall not affect an Eligible Participant’s relationship or employment with the Company or any Subsidiary.

     

    (4) Rights as a Shareholder. Neither the Participant nor such Participant’s personal representatives or
        legatees shall have any rights whatsoever as shareholder in respect of any Subordinate Voting Shares underlying such Participant’s Awards by reason of the grant of such Awards until such Awards have been duly exercised, as applicable, and settled
        and Subordinate Voting Shares have been issued or purchased on the open market, as applicable.

     

    (5) Conformity to Plan. In the event that an Award is granted or a Grant Agreement is executed which does
        not conform in all particulars with the provisions of the Plan, or purports to grant Awards on terms different from those set out in the Plan, the Award or the grant of such Award shall not be in any way void or invalidated, but the Award so
        granted will be adjusted to become, in all respects, in conformity with the Plan. In the event of conflicting provisions contained within any applicable Grant Agreement, the Board shall have sole discretion to determine the prevailing provision and
        interpretation thereof.

     

    (6) Transferrable Awards. Except as specifically provided in a Grant Agreement approved by the Board,
        each Award granted under the Plan is personal to the Participant and shall not be assignable or transferable by the Participant, whether voluntarily or by operation of law, except by will or by the laws of succession of the domicile of the deceased
        Participant. No Award granted hereunder shall be pledged, hypothecated, charged, transferred, monetized, securitized, assigned or otherwise encumbered or disposed of on pain of nullity.

     

    (7) Participant’s Entitlement. Except as otherwise provided in this Plan or unless the Board permits
        otherwise, upon any Subsidiary ceasing to be a subsidiary of the Company, Awards previously granted under this Plan that, at the time of such change, are held by a Person who is a director, executive officer, employee or consultant of such
        Subsidiary and not of the Company itself, whether or not then exercisable, shall automatically terminate on the date of such change.

     

    
      - 24 -

      
        

    

    (8) No Other Employee Benefits. The amount or value deemed to be or received by a Participant as a
        result of the exercise or settlement of an Award or as a result of the sale of a Share received or purchased upon the exercise or settlement of an Award will not constitute compensation with respect to which any other employee benefits of that
        Participant are determined including benefits under any bonus, pension, profit-sharing, insurance and salary continuation plan, except as otherwise specifically determined by the Board, nor will it be a basis to calculate any amount of termination
        or severance after the Participant’s Termination Date. In the event that the employment of the Participant is terminated by the Company either with or without Cause, and with or without reasonable notice, the Participant shall have no rights to any
        particular grants which have been made to him or her other than as set forth in the Plan, the applicable Grant Agreement or in any other separate written agreement entered into between the Company and the Participant, and the Participant will not
        be entitled to recover damages nor to be paid any benefits or to recover any compensation which the Participant would or may otherwise have been entitled to under the Plan if the Participant had remained actively employed by the Company. This Plan
        document and the Grant Agreement represent the entire agreement between the Participant and the Company with respect to any and all matters described in it. Neither the Participant nor the Company relies upon or regards as material, any
        representations or any writing that has not been incorporated into the Plan or the Grant Agreement or made part of the Plan or Grant Agreement.

     

    
      Section 7.2 General Conditions applicable on Termination.

    

     

    Unless otherwise determined by the Board, each Award shall be subject to the following conditions, as applicable:

     

    (1) Termination for Cause. Upon a Participant ceasing to be an Eligible Participant for Cause, any
        Awards granted to such Participant, whether vested or unvested on the Termination Date, shall terminate automatically and become void immediately on the Termination Date. For the purposes of the Plan, the determination by the Company that the
        Participant was discharged for Cause shall be binding on the Participant. “Cause” shall include gross misconduct, theft, fraud, breach of confidentiality or breach of the Company’s code of business conduct
        and ethics and any other reason determined by the Company to be cause for termination in accordance with applicable law.

     

    (2) Resignation or Retirement. Upon a Participant ceasing to be an Eligible Participant as a result of
        his or her resignation or retirement from the Company or a Subsidiary, as applicable, (i) the Board may, in its sole discretion, determine that a portion of the PSUs, RSUs and/or DSUs granted to such Participant under the Plan will immediately vest
        and be settled (based on the vesting terms, including, if applicable, achievement of Performance Criteria, up to the Termination Date, as determined in the final and sole discretion of the Board), (ii) all unvested Options will be forfeited on the
        Termination Date, and (iii) vested Options will remain exercisable until the earlier of thirty (30) days after the Termination Date or the expiry date of the Options, after which time all Options will expire. For greater certainty, if, following a
        Participant’s resignation or retirement from the Company or a Subsidiary, the end of the thirty (30) day period during which Options may be exercised should fall within a Black-Out Period, the provisions of Section 3.4(2) shall apply to extend the
        end of such period to the tenth (10th) Business Day following the end of such Black-Out Period.

     

    
      - 25 -

      
        

    

    (3) Death or Disability. Upon a Participant’s termination of employment as a result of death or
        disability, (i) all rights, title and interest in Options granted to such Participant under the Plan, which are unvested on the Termination Date, will continue to vest in accordance with the terms of this Plan and the Participant’s Grant Agreement
        for a period of up to two years, subject to the underlying Options’ expiry date, (ii) vested Options (including such Options that vest during the period following the Termination Date) will remain exercisable until the earlier of (A) two years
        after the Termination Date and (B) the expiry date of the Options, after which time all Options will automatically expire, and (iii) a portion of PSUs, RSUs and/or DSUs granted to the Participant under the Plan will immediately vest on the
        Termination Date and be settled (based on the vesting terms, including, if applicable, achievement of Performance Criteria, up to the Termination Date, as determined in the final and sole discretion of the Board); provided that this clause (iii)
        shall not apply to Participants subject to tax under the U.S. Code. Upon the death or incapacity of a Participant, the Participant’s rights if any shall only be exercisable by the administrator, executor or liquidator of the Participant’s estate,
        as the case may be.

     

    (4) Termination without Cause. Upon termination of a Participant’s employment without Cause, (i) the
        Board may, in its sole discretion, determine that a portion of the PSUs, RSUs and/or DSUs granted to such Participant under the Plan will immediately vest and be settled (based on the vesting terms, including, if applicable, achievement of
        Performance Criteria, up to the Termination Date, as determined in the final and sole discretion of the Board), (ii) all unvested Options will be forfeited on the Termination Date, and (iii) vested Options will remain exercisable until the earlier
        of ninety (90) days after the Termination Date or the expiry date of the Options, after which time all Options will expire. For greater certainty, if, following termination of a Participant’s employment without Cause, the end of the ninety (90) day
        period during which Options may be exercised should fall within a Black-Out Period, the provisions of Section 3.4(2) shall apply to extend the end of such period to the tenth (10th) Business Day following the end of such Black-Out Period.

     

    (5) Rights of Participant. The rights of a Participant pursuant to the above paragraphs are the only
        rights to which the Participant (or his or her estate) is entitled on a termination of employment with respect to such Participant’s Options, PSUs, RSUs and DSUs. Regardless of whether, on the Termination Date, the Participant is entitled to a
        reasonable notice period of termination of employment or compensation in lieu thereof, or is entitled to a specific notice period of termination of employment or compensation in lieu thereof, the Participant is not entitled to claim any other
        rights to any vested or unvested Options, PSUs, RSUs, or DSUs during such notice period or compensation in lieu thereof, whether by way of general or specific damages and whether in contract, tort or otherwise.

     

    (6) Unvested Awards. Other than as provided herein, if any portion of an Award has not vested by the
        Termination Date, that portion of such Award may not, under any circumstances, be exercised by the Participant. This provision will apply regardless of whether the Participant was entitled to a period of notice of termination which would otherwise
        have permitted a greater portion of a grant to vest in the Participant.

     

    
      - 26 -

      
        

    

    ARTICLE 8

    COMPLIANCE WITH U.S. TAX LAWS

     

    The provisions of this Article 8 shall apply solely to Participants who are subject to taxation under the U.S. Code.

     

    
      Section 8.1    Special Provisions Related to Section 409A of the U.S. Code.

    

     

    (1) General. It is intended that the payments and benefits provided under this Plan and any Award shall
        either be exempt from the application of, or comply with, the requirements of Section 409A of the U.S. Code. The Plan and all Grant Agreements shall be construed in a manner that effects such intent. Nevertheless, the tax treatment of the benefits
        provided under the Plan or any Award is not warranted or guaranteed. Neither the Company, its Subsidiaries nor their respective directors, officers, employees or advisers (other than in his or her capacity as a Participant) shall be held liable for
        any taxes, interest, penalties or other monetary amounts owed by any Participant or other taxpayer as a result of the Plan or any Award.

     

    (2) Definitional Restrictions. Notwithstanding anything in the Plan or in any Grant Agreement to the
        contrary, to the extent that any amount or benefit that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the U.S. Code (“Non-Exempt Deferred Compensation”) would otherwise
        be payable or distributable, or a different form of payment (e.g., lump sum or installment) of such Non-Exempt Deferred Compensation would be effected, under the Plan or any Grant Agreement by reason of the occurrence of a Change of Control, or the
        Participant’s disability or ceasing to be an Eligible Participant, such Non-Exempt Deferred Compensation will not be payable or distributable to the Participant, and/or such different form of payment will not be effected, by reason of such
        circumstance unless the circumstances giving rise to such Change of Control, disability or ceasing to be an Eligible Participant meet any description or definition of “change in control event”, “disability” or “separation from service”, as the case
        may be, in Section 409A of the U.S. Code and applicable regulations (without giving effect to any elective provisions that may be available under such definition). This provision does not affect the dollar amount or prohibit the vesting of any
        Award upon a Change of Control, disability or ceasing to be an Eligible Participant, however defined. If this provision prevents the payment or distribution of any amount or benefit, or the application of a different form of payment of any amount
        or benefit, such payment or distribution shall be made at the time and in the form that would have applied absent the non-409A-conforming event.

     

    (3) Allocation among Possible Exemptions. If any one or more Awards granted under the Plan to a
        Participant could qualify for any separation pay exemption described in Treas. Reg. Section 1.409A-1(b)(9), but such Awards in the aggregate exceed the dollar limit permitted for the separation pay exemptions, the Company shall determine which
        Awards or portions thereof will be subject to such exemptions.

     

    (4) Six-Month Delay in Certain Circumstances. Notwithstanding anything in the Plan or in any Grant
        Agreement to the contrary, if any amount or benefit that would constitute Non‐Exempt Deferred Compensation would otherwise be payable or distributable under this Plan or any Grant Agreement by reason of a Participant’s separation from service
        during a period in which the Participant is a Specified Employee (as defined below), then, subject to any permissible acceleration of payment by the Board under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii)
        (conflicts of interest), or (j)(4)(vi) (payment of employment taxes):

     

    
      - 27 -

      
        

    

    	

          	(a)	
            the amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following the Participant’s separation from service will be accumulated through and
              paid or provided on the first day of the seventh month following the Participant’s separation from service (or, if the Participant dies during such period, within 30 days after the Participant’s death) (in either case, the “Required Delay Period”); and

          

     

    	

          	(b)	
            the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period.

          

     

    For purposes of this Plan, the term “Specified Employee” has the meaning given such term in U.S. Code Section 409A and the final regulations
      thereunder; provided, however, that, as permitted in such final regulations, the Company’s Specified Employees and its application of the six-month delay rule of Code Section 409A(a)(2)(B)(i) shall be determined in accordance with rules adopted by
      the Board or any committee of the Board, which shall be applied consistently with respect to all nonqualified deferred compensation arrangements of the Company, including this Plan.

     

    (5) Installment Payments. If, pursuant to an Award, a Participant is entitled to a series of installment
        payments, such Participant’s right to the series of installment payments shall be treated as a right to a series of separate payments and not to a single payment. For purposes of the preceding sentence, the term “series of installment payments” has
        the meaning provided in Treas. Reg. Section 1.409A-2(b)(2)(iii) (or any successor thereto).

     

    (6) Timing of Release of Claims. Whenever an Award conditions a payment or benefit on the Participant’s
        execution and non-revocation of a release of claims, such release must be executed and all revocation periods shall have expired within 60 days after the date of termination of the Participant’s employment; failing which such payment or benefit
        shall be forfeited. If such payment or benefit is exempt from Section 409A of the U.S. Code, the Company may elect to make or commence payment at any time during such 60-day period. If such payment or benefit constitutes Non-Exempt Deferred
        Compensation, then, subject to Section 8.1(4) above, (i) if such 60-day period begins and ends in a single calendar year, the Company may make or commence payment at any time during such period at its discretion, and (ii) if such 60-day period
        begins in one calendar year and ends in the next calendar year, the payment shall be made or commence during the second such calendar year (or any later date specified for such payment under the applicable Award), even if such signing and
        non-revocation of the release occur during the first such calendar year included within such 60-day period. In other words, a Participant is not permitted to influence the calendar year of payment based on the timing of signing the release.

     

    (7) Permitted Acceleration. The Company shall have the sole authority to make any accelerated
        distribution permissible under Treas. Reg. section 1.409A-3(j)(4) to Participants of deferred amounts, provided that such distribution(s) meets the requirements of Treas. Reg. section 1.409A-3(j)(4).

     

    
      - 28 -

      
        

    

    ARTICLE 9

    ADJUSTMENTS AND AMENDMENTS

     

    
      Section 9.1    Adjustment to Shares Subject to Outstanding Awards.

    

     

    At any time after the grant of an Award to a Participant and prior to the expiration of the term of such Award or the forfeiture or cancellation of such Award, in the event of (i) any subdivision of
      the Shares into a greater number of Shares, (ii) any consolidation of Shares into a lesser number of Shares, (iii) any reclassification, reorganization or other change affecting the Shares, (iv) any merger, amalgamation or consolidation of the
      Company with or into another corporation, (v) any distribution to all holders of Shares or other securities in the capital of the Company, of cash, evidences of indebtedness or other assets of the Company (excluding an ordinary course dividend in
      cash or shares, but including for greater certainty shares or equity interests in a subsidiary or business unit of the Company or one of its subsidiaries or cash proceeds of the disposition of such a subsidiary or business unit) or (vi) any
      transaction or change having a similar effect, then the Board shall in its sole discretion, subject to the required approval of a Stock Exchange (if any), determine the appropriate adjustments or substitutions to be made in such circumstances in
      order to maintain the economic rights of the Participant in respect of such Award in connection with such occurrence or change, including:

     

    	

          	(a)	
            adjustments to the Option Price without any change in the total price applicable to the unexercised portion of any Options granted under the Plan;

          

     

    	

          	(b)	
            adjustments to the number of Shares to which the Participant is entitled upon exercise or settlement of such Award;

          

     

    	

          	(c)	
            adjustments permitting the immediate exercise of any outstanding Awards that are not otherwise exercisable; or

          

     

    	

          	(d)	
            adjustments to the number or kind of Shares reserved for issuance pursuant to the Plan.

          

     

    Notwithstanding the foregoing, no such adjustment shall be authorized with respect to any Options held by Participants who are United States taxpayers to the extent that such adjustment would cause
      the Option (determined as if all such Options were Incentive Stock Options whether or not so designated) to violate Section 424(a) of the U.S. Code or would otherwise subject any Participant to taxation under Section 409A of the U.S. Code.

     

    
      - 29 -

      
        

    

    
      Section 9.2   Change of Control.

    

     

    Notwithstanding anything else to the contrary herein, in the event of a potential Change of Control, the Board shall have the power, in its sole discretion, to modify the terms of this Plan and/or
      Awards (including, for greater certainty, to cause the vesting of all unvested Awards) to assist the Participants to tender into any take-over bid or similar transaction leading to a Change of Control. For greater certainty, in the event of a
      take-over bid or any other transaction leading to a Change of Control, the Board may (i) provide that any or all Awards shall thereupon terminate, provided that any such outstanding Awards that have vested shall remain exercisable until consummation
      of such Change of Control, or (ii) permit Participants to conditionally exercise their Awards, such conditional exercise to be conditional upon the take-up by such offeror of the Shares or other securities tendered to such take-over bid in accordance
      with the terms of such take-over bid (or the effectiveness of such other transaction leading to a Change of Control). If, however, the potential Change of Control referred to in this Section 9.2 is not completed within the time specified therein (as
      same may be extended), then notwithstanding this Section 9.2 or the definition of “Change of Control”: (i) any conditional exercise of vested Options shall be deemed to be null, void and of no effect, and such conditionally exercised Awards shall for
      all purposes be deemed not to have been exercised, (ii) Shares which were issued pursuant to exercise of Options which vested pursuant to this Section 9.2 shall be returned by the Participant to the Company and reinstated as authorized but unissued
      Shares, and (iii) the original terms applicable to Awards which vested pursuant to this Section 9.2 shall be reinstated.

     

    
      Section 9.3    Amendment or Discontinuance of the Plan.

    

     

    (1)          The Board may suspend or terminate the Plan at any time, or from time to time amend or revise the terms of the Plan or any granted
        Awards without the consent of the Participants, provided that such suspension, termination, amendment or revision shall:

     

    	

          	(a)	
            not adversely alter or impair the rights or tax treatment of any Participant, without the consent of such Participant except as permitted by the provisions of the Plan;

          

     

    	

          	(b)	
            be in compliance with applicable law and with the prior approval, if required, of the shareholders of the Company, a Stock Exchange or any other regulatory body having authority over the Company; and

          

     

    	

          	(c)	
            be subject to shareholder approval, where required by law or the requirements of a Stock Exchange, provided that the Board may, from time to time, in its absolute discretion and without approval of the
              shareholders of the Company make the following amendments to this Plan:

          

     

    	

          	(i)	
            any amendment to the vesting provision, if applicable, or assignability provisions of the Awards;

          

     

    	

          	(ii)	
            any amendment to the expiration date of an Award that does not extend the terms of the Award past the original date of expiration of such Award;

          

     

    	

          	(iii)	
            any amendment regarding the effect of termination of a Participant’s employment or engagement;

          

     

    
      - 30 -

      
        

    

    	

          	(iv)	
            any amendment to the terms and conditions of grants of PSUs, RSUs or DSUs, including the Performance Criteria, as applicable, quantity, type of Award, grant date, vesting periods, settlement date and other
              terms and conditions with respect to the Awards;

          

     

    	

          	(v)	
            any amendment which accelerates the date on which any Award may be exercised or payable, as applicable, under the Plan;

          

     

    	

          	(vi)	
            any amendment to the definition of an Eligible Participant under the Plan (other than with respect to Eligible Participants who are eligible to receive an Award of Incentive Stock Options);

          

     

    	

          	(vii)	
            any amendment necessary to comply with applicable law or the requirements of a Stock Exchange or any other regulatory body;

          

     

    	

          	(viii)	
            any amendment of a “housekeeping” nature, including to clarify the meaning of an existing provision of the Plan, correct or supplement any provision of the Plan that is inconsistent with any other provision of
              the Plan, correct any grammatical or typographical errors or amend the definitions in the Plan;

          

     

    	

          	(ix)	
            any amendment regarding the administration of the Plan;

          

     

    	

          	(x)	
            any amendment to add a provision permitting the grant of Awards settled otherwise than with Shares issued from treasury;

          

     

    	

          	(xi)	
            any amendment to add a cashless exercise feature or net exercise procedure;

          

     

    	

          	(xii)	
            any amendment to add a form of financial assistance; and

          

     

    	

          	(xiii)	
            any other amendment that does not require the approval of the holders of Shares under Section 9.3(2).

          

     

    (2) Notwithstanding Section 9.3(1), the Board shall be required to obtain shareholder approval to make the following amendments:

     

    	

          	(a)	
            any increase to the maximum number of Shares issuable pursuant to the Plan;

          

     

    	

          	(b)	
            except in the case of an adjustment pursuant to Article 9, any reduction in the Option Price of an Option or any cancellation and replacement of an Option with an Option
              with a lower Option Price, to the extent such reduction or replacement benefits an Insider;

          

     

    	

          	(c)	
            any extension of the term of an Award beyond the original expiry date, to the extent such amendment benefits an Insider;

          

     

    
      - 31 -

      
        

    

    	

          	(d)	
            any amendment which increases the maximum number of Shares that may be issuable to Insiders at any time pursuant to the Insider participation limit;

          

     

    	

          	(e)	
            any amendment which increases the maximum number of Shares that may be issuable upon exercise of Incentive Stock Options or modifies the definition of Eligible Participant used for purposes of determining
              eligibility for the grant of an Incentive Stock Option; and

          

     

    	

          	(f)	
            any amendment to the amendment provisions of the Plan;

          

     

    provided that Shares held directly or indirectly by Insiders benefiting from the amendments shall be excluded when obtaining such shareholder approval.

     

    (3) The Board may, by resolution, advance the date on which any Award may be exercised or payable or, subject to applicable regulatory
        provisions, including any rules of a Stock Exchange extend the expiration date of any Award, in the manner to be set forth in such resolution, provided that the period during which an Option is exercisable or a PSU, RSU or DSU remains outstanding
        does not exceed (A) in the case of Options, ten (10) years from the date such Option is granted and (B) in the case of PSUs, RSUs and DSUs, the last day of the Restriction Period in respect of such PSUs, RSUs and DSUs. The Board shall not, in the
        event of any such advancement or extension, be under any obligation to advance or extend the date on or by which any Option may be exercised or any PSU, RSU or DSU may remain outstanding by any other Participant.

     

    ARTICLE 10

    MISCELLANEOUS

     

    
      Section 10.1  Use of an Administrative Agent and Trustee.

    

     

    The Board may in its sole discretion appoint from time to time one or more entities to act as administrative agent or trustee to administer the Awards granted under the Plan and to act as trustee to
      hold and administer the assets that may be held in respect of Awards granted under the Plan, the whole in accordance with the terms and conditions determined by the Board in its sole discretion. The Company and the administrative agent will maintain
      records showing the number of Awards granted to each Participant under the Plan.

     

    
      Section 10.2  Tax Withholding and Deduction.

    

     

    (1) Notwithstanding any other provision of this Plan, all distributions, delivery of Shares or payments (including, for greater certainty,
        payments of Cash Equivalent) to a Participant (or to the liquidator, executor or administrator, as the case may be, of the estate of such Participant) under the Plan shall be made net of applicable taxes
        and social security and other source deductions. If the event giving rise to the withholding obligation involves an issuance or delivery of Shares, then, the withholding obligation may be satisfied by (a) having the Participant elect to have the
        appropriate number of such Shares sold by the Company, the Company’s transfer agent and registrar or any trustee appointed by the Company pursuant to Section 10.1 hereof, on behalf of and as agent for the Participant as soon as permissible and
        practicable, with the proceeds of such sale being delivered to the Company, which will in turn remit such amounts to the appropriate governmental authorities, or (b) any other mechanism as may be required or appropriate to conform with local tax
        and other rules.

     

    
      - 32 -

      
        

    

    (2) Participants will be responsible for (and will indemnify the Company and any Affiliate in respect of) all taxes, social security
        contributions (including, if the terms of the Participant’s Option Agreement so provides, and if lawful, employer social security contributions) and other liabilities arising out of or in connection with any Award or the acquisition, holding or
        disposal of Shares. If the Company or any Affiliate or the trustee of any employee benefit trust has any liability to pay or account for any such tax or contribution, it may meet the liability by:

     

    	

          	(a)	
            selling Shares to which the Participant becomes entitled on his behalf and using the proceeds to meet the liability;

          

     

    	

          	(b)	
            deducting the amount of the liability from any cash payment due under this Plan;

          

     

    	

          	(c)	
            reducing the number of Shares to which the Participant would otherwise be entitled; and/or

          

     

    	

          	(d)	
            deducting the amount from any payment of salary, bonus or other payment due to the Participant.

          

     

    (3) A Canadian tax resident Participant shall not settle any tax or social security contributions, or other such liabilities, by the sale of
        Shares, acquired through a prior Award, to the Company.

     

    
      Section 10.3  Clawback.

    

     

    Notwithstanding any other provisions in this Plan, any Award which is subject to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such
      deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing
      requirement). Without limiting the generality of the foregoing, the Board may provide in any case that outstanding Awards (whether or not vested or exercisable) and the proceeds from the exercise or disposition of Awards or Shares acquired under
      Awards will be subject to forfeiture and disgorgement to the Company, with interest and other related earnings, if the Participant to whom the Award was granted violates (i) a non-competition, non-solicitation, confidentiality or other restrictive
      covenant by which he or she is bound, or (ii) any policy adopted by the Company applicable to the Participant that provides for forfeiture or disgorgement with respect to incentive compensation that includes Awards under the Plan. In addition, the
      Board may require forfeiture and disgorgement to the Company of outstanding Awards and the proceeds from the exercise or disposition of Awards or Shares acquired under Awards, with interest and other related earnings, to the extent required by law or
      applicable stock exchange listing standards and any related policy adopted by the Company. Each Participant, by accepting or being deemed to have accepted an Award under the Plan, agrees to cooperate fully with the Board, and to cause any and all
      permitted transferees of the Participant to cooperate fully with the Board, to effectuate any forfeiture or disgorgement required hereunder. Neither the Board nor the Company nor any other Person, other than the Participant and his or her permitted
      transferees, if any, will be responsible for any adverse tax or other consequences to a Participant or his or her permitted transferees, if any, that may arise in connection with this Section 10.3.

     

    
      - 33 -

      
        

    

    
      Section 10.4  Securities Law Compliance.

    

     

    (1) The Plan (including any amendments to it), the terms of the grant of any Award under the Plan, the grant of any Award and the exercise of any
        Options, and the Company’s obligation to sell and deliver Shares in respect of any Awards, shall be subject to all applicable federal, provincial, state and foreign laws, rules and regulations, the rules and regulations of a Stock Exchange and to
        such approvals by any regulatory or governmental agency as may, as determined by the Company, be required. The Company shall not be obliged by any provision of the Plan or the grant of any Award hereunder to issue, sell or deliver Shares in
        violation of such laws, rules and regulations or any condition of such approvals.

     

    (2) No Awards shall be granted, and no Shares shall be issued, sold or delivered hereunder, where such grant, issue, sale or delivery would
        require registration of the Plan or of the Shares under the securities laws of any foreign jurisdiction (other than Canada) or the filing of any prospectus for the qualification of same thereunder, and any purported grant of any Award or purported
        issue or sale of Shares hereunder in violation of this provision shall be void.

     

    (3) The Company shall have no obligation to issue any Shares pursuant to this Plan unless upon official notice of issuance, such Shares shall
        have been duly listed with a Stock Exchange. The Company cannot guarantee that the Shares will be listed or quoted on a Stock Exchange. Shares issued, sold or delivered to Participants under the Plan may be subject to limitations on sale or resale
        under applicable securities laws.

     

    (4) If Shares cannot be issued or delivered to a Participant upon the exercise or settlement of an Award due to legal or regulatory restrictions,
        the obligation of the Company to issue or deliver such Shares shall terminate. Any funds paid to the Company in connection with the exercise or settlement of such Award will be returned to the applicable Participant as soon as practicable.

     

    
      Section 10.5 Reorganization of the Company.

    

     

    The existence of any Awards shall not affect in any way the right or power of the Company or its shareholders to make or authorize any adjustment, reclassification, recapitalization, reorganization
      or other change in the Company’s capital structure or its business, or any amalgamation, combination, merger or consolidation involving the Company or to create or issue any bonds, debentures, shares or other securities of the Company or the rights
      and conditions attaching thereto or to affect the dissolution or liquidation of the Company or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar nature or otherwise.

     

    
      - 34 -

      
        

    

    
      Section 10.6  Governing Laws.

    

     

    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 Québec and the
      laws of Canada applicable thereto and without recourse to conflict of laws rules.

     

    
      Section 10.7 Severability.

    

     

    The invalidity or unenforceability of any provision of the Plan shall not affect the validity or enforceability of any other provision and any invalid or unenforceable provision shall be severed from
      the Plan.

     

    
      Section 10.8 Currency

    

     

    Unless otherwise specifically determined by the Board, all Awards and payments pursuant to such grants shall be determined in Canadian currency. The Board shall determine, in its discretion, whether
      and to the extent any payments made pursuant to an Award shall be made in local currency, as opposed to Canadian dollars. In the event payments are made in local currency, the Board may determine, in its discretion and without liability to any
      Participant, the method and rate of converting the payment into local currency.

     

    
      Section 10.9 Effective Date of the Plan

    

     

    The Plan is effective as of September 7, 2020 (the “Effective Date”). For greater certainty, Awards granted under the original form or the prior amended and
      restated form of this Plan shall continue unaffected following the Effective Date.

     

    
      - 35 -

      
        

    

    
    SCHEDULE “A”

    ELECTION TO EXERCISE OPTIONS

     

    
      	
              TO:

            	
              Lightspeed POS Inc. (the “Company”)

            

    

     

    The undersigned option holder hereby irrevocably elects to exercise options (“Options”) granted by the Company to the undersigned pursuant to the Company’s Third Amended and
      Restated Omnibus Incentive Plan (the “Plan”) for the number of subordinate voting shares in the capital of the Company (“Subordinate Voting Shares”) as set forth below.

     

    Capitalized terms not defined here have the meanings specified in the Plan.

     

    	
            Number of Shares to be Acquired:

          	 	 	
            

            

          	 
	 	 	 	 
	
            Option Price (per Subordinate Voting Share):

          	 	$

          	
            

            

          	 
	 	 	 	 
	
            Aggregate Option Price:

          	 	$

          	
            

            

          	 
	 	 	 	 
	
            Amount enclosed that is payable on account of withholding of tax or other required deductions relating to the exercise of the Options (contact the Company for details of such amount) (the “Applicable Withholdings and Deductions”):

          	 	$

          	
             

             

            

            

          	 
	 	 	 	 
	
            ☐ Or check here if alternative arrangements have been made with the Company with respect to the payment of Applicable Withholdings and Deductions;

          	 	 	 

    

    

     

    and hereby tender cash, a certified cheque or bank draft for such aggregate Option Price, and, if applicable, Applicable Withholdings and Deductions, and directs such Subordinate Voting Shares to be registered in the
      name of ______________________________________________.

     

    [Signature page follows.]

    

    

    
      - 1 -

      
        

    

    DATED this ____ day of __________________, ______.

     

    	 	 	 
	 	 	
            Signature

          
	 	 	 
	 	 	 
	 	 	
            Name

          

    

    

    

    

    
      - 2 -

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