Document:

Nominating Agreement, dated as of July 13, 2010

 Exhibit 10.9 
 NOMINATING AGREEMENT 
 THIS AGREEMENT (“Agreement”), dated
July 13, 2010, is entered into by and between Postmedia Network Canada Corp., a corporation governed by the laws of Canada (the “Company”) and GoldenTree Asset Management LP (the “Shareholder”), a limited
partnership governed by the laws of State of Delaware. 
 RECITALS: 

WHEREAS, pursuant to the terms of a subscription agreement dated July 2, 2010 (the “Subscription Agreement”),
the Shareholder has, among other things, subscribed for 8,132,834 Class NC variable voting shares (the “Variable Voting Shares”) in the capital of the Company; 

AND WHEREAS, upon completion of the transactions contemplated in the Subscription Agreement, the Shareholder, together with its
Affiliates (as such term is defined in National Instrument 45-106 – Prospectus Exempt Distributions) and certain investment funds for which it acts as investment advisor, will beneficially own or exercise control or direction over
approximately 11,331,484 Variable Voting Shares which will represent approximately 29.06% of the aggregate outstanding Variable Voting Shares and Class C voting shares (the “Voting Shares” and, together with the Variable Voting
Shares, the “Shares”) in the capital of the Company; 
 AND WHEREAS, the parties have agreed to enter
into this Nominating Agreement with effect as of the date first noted above in respect of the matters and on the terms and conditions set forth herein; 
 NOW, THEREFORE, in consideration of the Shareholder agreeing to subscribe for the Variable Voting Shares and the respective promises, representations, warranties, covenants and agreements of the
parties contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the parties hereto, the parties hereto, intending to be legally bound hereby, agree as follows:

 ARTICLE 1 
 BOARD OF DIRECTORS 
  

	1.1	Board Representation 

  

	(1)	 The Shareholder shall have, if and for so long as the Shareholder, together with its Affiliates and certain investment funds for which it acts as
investment advisor, beneficially owns or exercises control or direction over, directly or indirectly, at least 10% of the outstanding Shares (before giving effect to the exercise, conversion or exchange of any securities exercisable for, convertible
into or exchangeable for Shares), the right to select one individual, who shall be presented to the shareholders of the Company as part of the management proposed list of nominees to serve as directors on the board of directors of the Company (the
“Board”) at any shareholder 

	 	 
meeting at which directors of the Company are being elected, with such individual being referred to herein as a “Nominee”; provided, however, that such nomination right shall
only be exercisable for so long as the Board has at least three members (including the Nominee). 

  

	(2)	The Company acknowledges that the Shareholder’s current Nominee on the Board is Steve Shapiro. 

 

	(3)	In order to exercise its rights in section 1.1(1) and commencing in the fiscal year in which the third annual meeting of the Company is held, the Shareholder shall, by
no later than thirty days following the Company’s fiscal year end, provide the Company with written notice of the Shareholder’s proposed Nominee(s), which individuals shall be subject to consideration by the Board pursuant to the process
set forth in Section 1.2(2); provided, however, that if the Shareholder fails to provide such notice, the Shareholder’s proposed Nominee shall be deemed to be the Nominee then serving on the Board. 

 

	(4)	The Nominee will be invited to join certain committees of the Board upon and subject to his or her election as a director of the Company and the determination of the
Board as to which committee or committees the Nominee will be invited to join. 

  

	(5)	At the request of the Shareholder but subject to the residency requirements in the by-laws of the applicable subsidiary, the Company shall cause the nominee to be
elected to the board of directors of any direct or indirect subsidiary of the Company whose board composition is substantially similar to that of the Board. 

 

	(6)	The Shareholder acknowledges that there is no assurance that the Nominee will be elected to the Board by shareholders. 

 

	(7)	The Shareholder shall provide written notice to the Company promptly upon the Shareholder having knowledge, based on the most recently reported outstanding share number
by the Company, that the Shareholder, together with its Affiliates and certain investment funds for which it acts as investment advisor, beneficially owns, or exercises control or direction over, directly or indirectly, less than 10% of the
outstanding Shares (before giving effect to the exercise, conversion or exchange of any securities exercisable for, convertible into or exchangeable for Shares). 

 

	1.2	Qualified Designees 

  

	(1)	 Subject to applicable law and the rules of any stock exchange or quotation system on which any securities of the Company are listed and posted for
trading or quoted, as applicable, at the relevant time, in the event that at any time following the date hereof and prior to the termination of this Agreement a vacancy on the Board is created as a result of a Nominee’s death, resignation or
removal, then the Shareholder shall have thirty (30) days from the date of such event to select another individual whom the Shareholder believes satisfies the Conditions (as such term is defined below) to fill such vacancy by providing written
notice to the Chair of the Board’s governance committee which notice shall identify the individual, and his or her qualifications and 

  
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credentials to serve as a director of the Company, and to confirm that he or she satisfies the Conditions (each such individual, and any individual proposed by written notice of the Shareholder
pursuant to Section 1.1(3), is referred to herein as a “Qualified Designee”). 

  

	(2)	Promptly and, in any event, within ten days following receipt of such notice or a notice provided pursuant to section 1.1(3), the members of the Board’s governance
committee will review the qualifications and credentials of the Qualified Designee, in good faith in the exercise of their duties, and determine whether to recommend the appointment of the individual to the Board to fill the vacancy or be included
as a nominee on the management proposed list of nominees for the applicable shareholders meeting, as the case may be, and the Board will act in good faith in considering whether to accept such recommendation. In the event that (x) the
governance committee recommends the appointment of the individual to the Board or for inclusion on the management proposed list of nominees, as the case may be, and the Board accepts such recommendation and appoints such individual as a director or
for inclusion on the management proposed list of nominees, then the Board shall promptly notify the Shareholder and such individual shall serve on the Board or be included on the management proposed list of nominees, as applicable, or (y) the
governance committee, acting in good faith, determines not to recommend the appointment of the individual to the Board or for inclusion on the management proposed list of nominees (or the Board, acting in good faith, determines to reject a positive
recommendation of the governance committee), then the Board shall promptly notify the Shareholder and allow the Shareholder to select another individual whom the Shareholder believes satisfies the Conditions who shall then be subject to approval in
accordance with the procedures set out above, and so on as necessary until the vacancy shall be filled with a Qualified Designee or the Shareholder’s proposed nominee is included on the management proposed list of nominees, as applicable.

  

	1.3	Conditions 

  

	(1)	Notwithstanding anything to the contrary in this Agreement, each of the Nominees shall satisfy the following conditions (such conditions are referred to herein as the
“Conditions”), which requirement applies to, and shall be equally enforced by the Company in respect of, every other individual serving or proposed to serve as a member of the Board: 

 

	 	(a)	co-operate with the Board to allow the board to determine that, as of the date of this Agreement, that he or she is either “independent” or not
“independent” as defined under applicable Canadian securities laws; 

  

	 	(b)	at all times while serving on the Board, be qualified to serve as a director under the Canada Business Corporations Act, as amended (the
“CBCA”); and, 

  

	 	(c)	confirm to the Board as of the date of this Agreement, that he has made all disclosures required by Section 120 of the CBCA. 

  
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	(2)	The Shareholder shall promptly advise the Chair of the governance committee in writing if the Shareholder becomes aware that its Nominee ceases to satisfy the
Conditions. 

  

	(3)	Notwithstanding anything to the contrary in this Agreement, but subject to the right of the Shareholder to select a Qualified Designee as provided in Section 1.2
hereof, if, at any time, a Nominee ceases to satisfy any of the conditions in Section 1.3(1), upon the request of the Board to the Shareholder, the Shareholder shall promptly cause such Nominee to resign from the Board immediately and such
Nominee shall deliver his or her written resignation to the Board forthwith. 

 ARTICLE 2 

TERMINATION 
  

	2.1	Termination 

  

	(1)	The provisions of this Agreement shall remain in full force and effect until the earliest of: 

 

	 	(a)	the date that the Shareholder, together with all of its Affiliates and certain investment funds for which it acts as investment advisor, beneficially owns, or exercises
control or direction over, directly or indirectly, less than 10% of the outstanding Shares (before giving effect to the exercise, conversion or exchange of any securities exercisable for, convertible into or exchangeable for Shares); and

  

	 	(b)	the date established by mutual written agreement of the Company and the Shareholder. 

 

	2.2	Effect of Termination 

Upon termination of this Agreement, the Shareholder shall cease to have any further nomination rights. At the time of termination, the
Shareholder shall cause its then current Nominee to fulfill the term of such Nominee’s role as member of the Board and resign from Board as soon as practicable following the end of such term. No termination pursuant to Section 2.1 shall
relieve any party hereto from liability for any breach of this Agreement prior to such termination. 
 ARTICLE 3

 GENERAL 
  

	3.1	Notices 

 All notices,
requests, claims, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given to a party if delivered in person or sent by overnight delivery (providing proof of delivery) to the party at the following
addresses (or at such other address for a party as shall be specified by like notice) on the date of delivery, or if by facsimile, upon confirmation of receipt: 

  
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	 	(a)	If to the Company: 

 Postmedia Network Canada Corp. 
 1450 Don Mills Road

 Don Mills, Ontario M3B 2X7 

	 	Attention:	Paul Godfrey, Chief Executive Officer 

	 	Telephone:	(416) 383-2433 

	 	Facsimile:	(416) 383-2463 

With a copy to: 
 Goodmans LLP 
 Bay Adelaide Centre 

333 Bay Street, Suite 3400 
 Toronto, Ontario M5H 2S7 

	 	Attention:	Rob Chadwick 

	 	Telephone:	416.979.2211 

	 	Facsimile:	416.979.1234 

  

	 	(b)	If to the Shareholder: 

 GoldenTree Asset Management LP 
 300 Park Avenue, 21st Floor

 New York, NY 10022 

	 	Attention:	Karen Weber 

	 	Telephone:	212-847-3531 

	 	Facsimile:	212-847-3496 

  

	3.2	No Third-Party Beneficiaries 

 Nothing in this Agreement, whether express or implied, is intended to or shall confer any rights, benefits or remedies under or by reason of this Agreement on any Persons other than the parties and their
respective successors and permitted assigns, nor is anything in this Agreement intended to relieve or discharge the obligation or liability of any third Persons to any party, nor shall any provisions give any third Persons any right or subrogation
over or action against any party. 
  

	3.3	Governing Law 

 This
Agreement shall be governed by and construed and enforced in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein, without giving effect to the conflicts of law provisions thereof. Any disputes
arising out of or in connection with this Agreement shall be adjudicated in the Courts of Ontario. 
  

	3.4	Assignment; Successors 

This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties and their respective successors and
permitted assigns. No party to this 

  
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Agreement may assign its rights or delegate its obligations under this Agreement, whether by operation of law or otherwise. 

 

	3.5	Amendments; Waivers 

 This
Agreement may only be amended pursuant to a written agreement executed by all the parties, and no waiver of compliance with any provision or condition of this Agreement and no consent provided for in this Agreement shall be effective unless
evidenced by a written instrument executed by the party against whom such waiver or consent is to be effective. No waiver of any term or provision of this Agreement shall be construed as a further or continuing waiver of such term or provision or
any other term or provision. 
  

	3.6	Entire Agreement 

 This
Agreement constitutes the entire agreement of all the parties and supersedes any and all prior and contemporaneous agreements, memoranda, arrangements and understandings, both written and oral, between the parties, or any of them, with respect to
the subject matter hereof. No representation, warranty, promise, inducement or statement of intention has been made by any party which is not contained in this Agreement and no party shall be bound by, or be liable for, any alleged representation,
promise, inducement or statement of intention not contained herein or therein. The parties expressly disclaim reliance on any information, statements, representations or warranties regarding the subject matter of this Agreement other than the terms
of this Agreement. 
  

	3.7	Counterparts 

 To
facilitate execution, this Agreement may be executed in any number of counterparts (including by facsimile transmission), each of which shall be deemed to be an original, but all of which together shall constitute one binding agreement on the
parties, notwithstanding that not all parties are signatories to the same counterpart. 
  

	3.8	Specific Performance 

 The
parties agree that irreparable damage would occur in the event any of the provisions of this Agreement were not performed in accordance with the terms hereof and that the parties are entitled to an injunction or specific performance of the terms
hereof in addition to any other remedies at law or in equity. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date
first above written. 
  

					
	POSTMEDIA NETWORK CANADA CORP.
		
	By:	 	 “Steven Pasternak”

		 	Name:	 	Steven Pasternak
		 	Title:	 	Senior Vice President and General Counsel
	
	GOLDENTREE ASSET MANAGEMENT LP
		
	Per:	 	 “Barry Ritholz”

		 	 Name:

Title:
	 	 Barry Ritholz
 Vice
President

  
 - 7 -Registration Rights Agreement, dated as of July 13, 2010

 Exhibit 10.10 
 REGISTRATION RIGHTS AGREEMENT 
 between 

POSTMEDIA NETWORK CANADA CORP. 
 — and — 
 GOLDENTREE ASSET MANAGEMENT LP 

JULY 13, 2010 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	ARTICLE 1 INTERPRETATION AND GENERAL MATTERS	  	 	1	  
	 1.1
	  	Definitions	  	 	1	  
	 1.2
	  	Interpretation Not Affected by Headings, Etc.	  	 	3	  
	 1.3
	  	Interpretation	  	 	4	  
	 1.4
	  	Date for any Action	  	 	4	  
	 1.5
	  	Calculation of Time	  	 	4	  
	 1.6
	  	Schedule	  	 	4	  
		
	ARTICLE 2 REGISTRATION RIGHTS	  	 	4	  
	 2.1
	  	Demand Registration Rights	  	 	4	  
	 2.2
	  	Piggy-Back Registration Rights	  	 	6	  
	 2.3
	  	Expenses	  	 	8	  
		
	ARTICLE 3 DUE DILIGENCE; INDEMNIFICATION	  	 	8	  
	 3.1
	  	Preparation; Reasonable Investigation	  	 	8	  
	 3.2
	  	Indemnification by the Corporation	  	 	9	  
	 3.3
	  	Indemnification by the Holder	  	 	10	  
	 3.4
	  	Defense of the Action by the Indemnifying Parties	  	 	10	  
	 3.5
	  	Contribution	  	 	11	  
	 3.6
	  	Limitation on Indemnification by the Holder	  	 	11	  
	 3.7
	  	Survival	  	 	11	  
	 3.8
	  	Holder is Trustee	  	 	11	  
	 3.9
	  	Corporation is Trustee	  	 	11	  
		
	ARTICLE 4 AMENDMENTS	  	 	12	  
	 4.1
	  	Amendments, Modifications, etc.	  	 	12	  
		
	ARTICLE 5 TERMINATION	  	 	12	  
	 5.1
	  	Term	  	 	12	  
		
	ARTICLE 6 GENERAL	  	 	12	  
	 6.1
	  	Severability	  	 	12	  
	 6.2
	  	Enurement	  	 	12	  
	 6.3
	  	Assignment	  	 	12	  
	 6.4
	  	Notices	  	 	13	  
	 6.5
	  	Counterparts	  	 	13	  
	 6.6
	  	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	  	 	14	  
	 6.7
	  	Delay or Omissions	  	 	14	  
	 6.8
	  	Remedies	  	 	14	  

 SCHEDULES 
 Schedule “A” —         Registration Procedures 

 REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT is made as of the
13th day of July, 2010. 

B E T W E E N: 
 POSTMEDIA NETWORK CANADA CORP., a 
 corporation
incorporated under the laws of Canada 
 — and — 

GOLDENTREE ASSET MANAGEMENT LP, a 

limited partnership governed by the laws of the State of 

Delaware 
 WHEREAS the parties desire to enter into this Agreement to provide the Holder, from time to time, with demand registration rights and piggy-back registration rights; 

NOW THEREFORE in consideration of the premises and the mutual covenants and agreements herein contained, the sufficiency of which
is hereby acknowledged by each of the parties to this Agreement the parties agree as follows: 
 ARTICLE 1 

INTERPRETATION AND GENERAL MATTERS 
  

	1.1	Definitions 

 In this
agreement, the following terms have the following meanings: 
  

	 	(a)	“Affiliates” has the meaning ascribed thereto in the Securities Act (Ontario) but as if the word “company” were changed to
“person”; 

  

	 	(b)	“Business Day” means any day, other than Saturday, Sunday or civic or statutory holiday in the Province of Ontario or the State of New York;

  

	 	(c)	“Corporation” means Postmedia Network Canada Corp. and any corporation resulting from the amalgamation or merger of the Corporation with another
corporation or other corporations; 

  

	 	(d)	“Demand Registration” has the meaning ascribed thereto in Section 2.1(a); 

 

	 	(e)	“Distribution” means a distribution of Shares to the public by way of a Prospectus under Securities Laws in any applicable jurisdiction in Canada;

  

	 	(f)	 “Distribution Expenses” means any and all fees and expenses incidental to the Corporation’s performance of, or compliance with,
the terms of a Distribution 

	 	 
hereunder, including without limitation: (i) securities regulators, Canadian stock exchange registration listing and filing fees, (ii) fees and expenses of compliance with Securities
Laws, (iii) printing, copying and translation expenses, (iv) expenses incurred in connection with any “road show” and marketing activities, (v) reasonable fees, expenses and disbursements of one legal counsel to the
Corporation, (vi) fees, expenses and disbursements of legal counsel retained by the Corporation in connection with the distribution of securities in provinces and territories other than Ontario, (vii) fees, expenses and disbursements of
the Corporation’s auditors in connection with a Distribution, (viii) all transfer agents’, depositaries’ and registrars’ fees, and (ix) any other fees, expenses and/or commissions payable to an underwriter, investment
banker, manager or agent, other than Selling Expenses, customarily paid by issuers or sellers of securities; 

  

	 	(g)	“Governmental Authority” means a court or governmental authority, ministry, department, commission, board, bureau, agency or instrumentality of Canada,
or of any province, state, territory, country, municipality, region or other political jurisdiction whether domestic or foreign and whether now or in the future constituted or existing having or purporting to have jurisdiction over the business
conducted by any of the Parties; 

  

	 	(h)	“Holder” means GoldenTree Asset Management LP, on behalf of itself, its Affiliates and certain investment funds for which it acts as investment
advisor; 

  

	 	(i)	“Indemnified Party” has the meaning ascribed thereto in Section 3.3; 

 

	 	(j)	“Indemnifying Party” has the meaning ascribed thereto in Section 3.3; 

 

	 	(k)	“Parties” means the Corporation, the Holder and their respective successors and assigns, and “Party” means any one of them;

  

	 	(l)	“Person” means and includes any individual, body corporation with or without share capital, partnership, joint stock company, limited liability
corporation, unincorporated association, joint venture, association, syndicate, sole proprietorship, company, trust, trustee, executor, administrator or other legal personal representative, bank, trust company, pension fund or corporation, union,
business trust or other organization, whether or not a legal entity, and any Governmental Authority; 

  

	 	(m)	“Piggy-Back Registration” has the meaning ascribed thereto in Section 2.2; 

 

	 	(n)	“Prospectus” means a “preliminary prospectus”, “amended and restated preliminary prospectus” and a “final prospectus” as
those terms are used in the Securities Act, including all amendments and supplements thereto but which shall not include a base shelf prospectus or shelf prospectus supplement; 

 

	 	(o)	 “Registrable Securities” means any Shares beneficially owned by the Holder or over which the Holder exercises control or direction at
the date hereof. As to any 

  
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particular Registrable Securities, such securities shall cease to be Registrable Securities when they have been distributed to the public pursuant to a Distribution or have been otherwise sold by
the Holder or an Affiliate of the Holder, as applicable; 

  

	 	(p)	“Securities Act” means the Securities Act (Ontario), as it may be amended from time to time, and any successor legislation;

  

	 	(q)	“Securities Laws” includes the Securities Act and any other similar legislation in any other province or territory of Canada in which the
Corporation becomes a reporting issuer; 

  

	 	(r)	“Securities Regulators” has the meaning ascribed thereto in Schedule “A”; 

 

	 	(s)	“Selling Expenses of a Securityholder” means any and all underwriting discounts and commissions, share transfer taxes and expense reimbursements
attributable to securities to be sold by a securityholder in a Demand Registration or Piggy-Back Registration and fees and disbursements of counsel to the securityholder; 

 

	 	(t)	“Selling Expenses of the Corporation” means any and all underwriting discounts and commissions, share transfer taxes and expense reimbursements
attributable to securities to be sold by the Corporation in a Demand Registration or Piggy-Back Registration; 

  

	 	(u)	“Selling Expenses of the Holder” means any and all underwriting discounts and commissions, share transfer taxes and expense reimbursements attributable
to the Registrable Securities to be sold by the Holder in a Demand Registration or Piggy-Back Registration and fees and disbursements of counsel to the Holder; and 

 

	 	(v)	“Shares” means the Class C voting shares and the Class NC variable voting shares of the Corporation. 

 

	1.2	Interpretation Not Affected by Headings, Etc. 

 The division of this Agreement into Articles, sections and other portions and the insertion of headings are for convenience of reference only and should not affect the construction or interpretation of
this Agreement. Unless otherwise indicated, all references to a “Article” or “Section” followed by a number and/or a letter refer to the specified Article or Section of this Agreement. The terms “this Agreement”,
“hereof’, “herein” and “hereunder” and similar expressions refer to this Agreement and not to any particular Article, Section or other portion of this Agreement and include any Agreement or instrument supplementary or
ancillary to this Agreement. 

  
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	1.3	Interpretation 

 Words
importing a singular number only shall include the plural and vice versa. Words importing gender shall include all genders. Where the word “including” or “includes” is used in this Agreement it means “including
without limitation” or “includes without limitation”, respectively. Any reference to any document shall include a reference to any schedule, amendment or supplement thereto or any agreement in replacement thereof, all as permitted
under such document. 
  

	1.4	Date for any Action 

 If
any date on which any action is required to be taken under this Agreement is not a Business Day, the action will be required to be taken on the next succeeding Business Day. 

 

	1.5	Calculation of Time 

 In
this Agreement, unless otherwise specified, a period of days will be deemed to begin on the first day after the event that began the period and to end at midnight (Toronto time) on the last day of the period, except that if the last day of the
period does not fall on a Business Day, the period will terminate at midnight (Toronto time) on the next succeeding Business Day. 
  

	1.6	Schedule 

 The Schedule
attached to this Agreement forms an integral part of it for all purposes of it. The following is a Schedule to this Agreement: 
 Schedule
“A” —Registration Procedures 
 ARTICLE 2 

REGISTRATION RIGHTS 
  

	2.1	Demand Registration Rights 

  

	 	(a)	 At any time and from time to time commencing on the 90th day following the later of the date on which: (i) the Corporation becomes a reporting issuer in any province of
Canada; and (ii) the Shares are listed on the Toronto Stock Exchange or another recognized exchange, the Holder may require the Corporation to file a Prospectus and take such other steps as may be necessary to facilitate a secondary offering in
Canada of all or any portion of the Registrable Securities (the “Demand Registration”), by giving written notice of such Demand Registration to the Corporation. The Corporation shall, subject to applicable Securities Laws, use
commercially reasonable efforts to file a Prospectus and take such other steps as may be necessary to facilitate a secondary offering in Canada under Securities Laws in order to permit the offer and sale or other disposition or Distribution in
Canada of all or any portion of the Holder’s Registrable Securities requested to be included in such Demand Registration. The Parties shall cooperate 

  
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in a timely manner in connection with any such offer and sale or other disposition or Distribution and the procedures in Schedule “A” shall apply. 

 

	 	(b)	The Corporation shall not be obliged to effect: 

  

	 	(i)	more than one Demand Registration in any 12-month period as requested by the Holder pursuant to Section 2.1(a) and more than three Demand Registrations in total
under this Agreement as requested by the Holder pursuant to Section 2.1(a). For the purposes of this subsection, a Demand Registration will not be considered as having been effected until a receipt has been issued for a final Prospectus by the
Securities Regulators pursuant to which the Registrable Securities are to be sold; 

  

	 	(ii)	a Demand Registration in the event the Board of Directors of the Corporation determines in its good faith judgment that either: (A) the effect of the filing of a
Prospectus would impede the ability of the Corporation to consummate a financing, acquisition, corporate reorganization, merger or other material transaction involving the Corporation; or (B) there exists at the time material non-public
information relating to the Corporation the disclosure of which the Corporation believes would be detrimental to the Corporation, in which case the Corporation’s obligations under this Section 2.1 will be deferred for a period of not more
than 90 days from the date of receipt of the request of the Holder; 

  

	 	(iii)	an underwritten Demand Registration in respect of a number of Shares that is expected to result in gross sale proceeds of less than $15 million; and

  

	 	(iv)	a Demand Registration until the date that is 90 days after the date on which a receipt was issued for a Prospectus for securities offered by the Corporation, provided
that the Corporation will not file any Prospectus (including, for the purposes of this part, a shelf prospectus supplement), whether for its own account or that of other security holders of the Corporation, from the date of receipt of a request from
the Holder for a Demand Registration pursuant to Section 2.1(a) hereof until the completion of the period of distribution contemplated thereby (unless the Holder withdraws its request for a Demand Registration). 

 

	 	(c)	Any request by the Holder pursuant to Section 2.1(a) hereof shall: 

  

	 	(i)	specify the number of Shares which the Holder intends to offer and sell; 

  

	 	(ii)	express the intention of the Holder to offer or cause the offering of such Shares; 

 

	 	(iii)	describe the nature or methods of the proposed offer and sale thereof and the provinces and territories of Canada in which such offer shall be made;

  
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	 	(iv)	contain the undertaking of the Holder to provide all such information regarding its holdings and the proposed manner of distribution thereof as may be required in order
to permit the Corporation to comply with all Securities Laws; and 

  

	 	(v)	specify whether such offer and sale shall be made by an underwritten public offering. 

 

	 	(d)	In the case of an underwritten public offering initiated pursuant to this Section 2.1, the Holder shall have the right to select the managing underwriter or
underwriters to effect the distribution in connection with such Demand Registration, provided, however, that such selection shall also be satisfactory to the Corporation, acting reasonably. The Corporation shall have the right to retain counsel of
its choice to assist it in fulfilling its obligations under this Article 2. 

  

	 	(e)	The Corporation shall not include in any Demand Registration any securities which are not Registrable Securities without the prior written consent of the Holder. In the
event that the Corporation and/or any other securityholder of the Corporation proposes to offer and sell its securities as part of any Demand Registration, then, if the Holder is willing to include any other securities in the Demand Registration,
the Holder shall ask the managing underwriter or underwriters to advise the Corporation and the Holder in writing whether, in their opinion, the number of Registrable Securities and, if permitted hereunder, the number of other securities requested
to be included in such offering exceeds the number of Registrable Securities and such other securities, if any, which can be sold in an orderly manner in such offering within a price range acceptable to the Holder. If the managing underwriter or
underwriters give an affirmative opinion in writing then the Corporation shall include in such Demand Registration, to the extent of the amount that the managing underwriter or underwriters believe may be sold in an orderly manner in such offering
within a price range acceptable to the Holder, first, the Registrable Securities of the Holder requested to be included in the offering under this Article 2, and second, such securities offered by the Corporation for its own account and/or by any
other securityholder of the Corporation, on a pro rata basis. 

  

	 	(f)	In the case of an underwritten Demand Registration, the Holder may participate in the negotiations of the terms of any underwriting agreement. The Holder’s
participation in, and the Corporation’s completion of, the underwritten Demand Registration is conditional upon the Holder agreeing that the terms of any underwriting agreement are satisfactory to it, in its sole discretion.

  

	2.2	Piggy-Back Registration Rights 

  

	 	(a)	 If the Corporation proposes to qualify any securities under Securities Laws or to make a Distribution (for its own account or for the account of any
other holder of securities of the Corporation, or both), the Corporation will, at that time, promptly give the Holder written notice of the proposed qualification or Distribution. Upon

  
 - 6 -

	 	 
the written request of the Holder, given within ten (10) Business Days after receipt of that notice by the Corporation (or, where the proposed qualification or Distribution will be through a
short form Prospectus in the form of Form 44-101 F3 pursuant to National Instrument 44-101 under applicable Securities Laws , within two (2) Business Days after receipt of that notice by the Corporation) that the Holder wishes to include a
specified number of the Registrable Securities (which shall, at minimum, be such number of Registrable Securities equivalent to $10 million) in the Distribution (a “Piggy-Back Registration”), then the Corporation will use
commercially reasonable efforts to, in conjunction with the proposed Distribution, cause to be included in such Distribution all of the Registrable Securities that the Holder requests to be included in such Distribution; provided that the
Corporation shall not be required to include all such Registrable Securities in any such Distribution if the managing underwriter or underwriters provide an opinion to the Corporation in writing (a copy of which advice is to be provided promptly to
the Holder) that the inclusion of any such Registrable Securities, exceeds the number of such securities and Registrable Securities which can be sold in an orderly manner in such Distribution within a price range acceptable to the Corporation, in
which case the Corporation shall include in such Distribution, to the extent of the amount that the managing underwriter or underwriters believe may be sold in an orderly manner in such Distribution within a price range acceptable to the
Corporation, first, the securities of the Corporation requested to be included in the Distribution for its own account, and second, the number of Registrable Securities requested to be included in the Distribution by the Holder and the number of
securities requested to be included in the Distribution by any other securityholder of the Corporation, if any, on a pro rata basis. 

  

	 	(b)	If at any time after giving written notice of its intention to file a Prospectus in respect of any securities and prior to the issuance of a receipt for the final
Prospectus, the Corporation determines for any reason not to continue or to delay completion of the qualification or Distribution of such securities in which Registrable Securities have been permitted to participate, the Corporation may, at its
election, give written notice of such determination to the Holder, and: 

  

	 	(i)	in the case of a determination not to complete a qualification or Distribution, will be relieved of its obligation to complete such abandoned registration, without
prejudice, however, to the rights of the Holder under Section 2.1 or 2.3; and 

  

	 	(ii)	in the case of a determination to delay such qualification or Distribution of its securities, will be permitted to delay the completion of the qualification or
Distribution of such Registrable Securities for the same period as the delay in the qualification or Distribution of such other securities. 

  

	 	(c)	 The Holder will have the right to withdraw its request for inclusion of its Registrable Securities in any Prospectus pursuant to this Section 2.2
by giving 

  
 - 7 -

	 	 
written notice to the Corporation of its request to withdraw; provided, however, that: 

  

	 	(i)	such request must be made in writing prior to the execution of the underwriting agreement (or such other similar agreement) with respect to such qualification or
Distribution; and 

  

	 	(ii)	such withdrawal will be irrevocable and, after making such withdrawal, the Holder will no longer have any right to include its Registrable Securities in the
qualification or Distribution pertaining to which such withdrawal was made. 

  

	 	(d)	No qualification or distribution of Registrable Securities under this Section 2.2 shall relieve the Corporation of its obligations to effect Demand Registrations
pursuant to Section 2.1 hereof. The Holder shall be entitled to seek to participate in any Piggy-Back Registrations. 

  

	2.3	Expenses 

  

	 	(a)	In the case of a Demand Registration under Section 2.1, all Distribution Expenses shall be paid by the Holder, unless the Corporation or other securityholders of
the Corporation sell their securities as part of the Demand Registration pursuant to Section 2.1(f), in which case the Distribution Expenses shall be paid by the Holder, the Corporation and any such other securityholder in proportion to the
gross proceeds received by each such Person from the Demand Registration. 

  

	 	(b)	In the case of a Piggy-Back Registration pursuant to Section 2.2, the Distribution Expenses shall be paid by the Corporation, any other securityholder of the
Corporation and the Holder in proportion to the gross proceeds received by each such Person from the Piggy-Back Registration. 

  

	 	(c)	The Holder will pay all Selling Expenses of the Holder, the Corporation will pay all Selling Expenses of the Corporation and any other securityholder will pay all
Selling Expenses of a Securityholder in connection with any Demand Registration or Piggy-Back Registration. 

  

	 	(d)	For greater certainty, in connection with any qualification or Distribution of securities hereunder, the Corporation shall pay its internal expenses (including, without
limitation, all salaries and expenses of its officers and employees performing legal or accounting duties). 

ARTICLE 3 

DUE DILIGENCE; INDEMNIFICATION 
  

	3.1	Preparation; Reasonable Investigation 

 In connection with the preparation and filing of any Prospectus in connection with a Demand Registration or Piggy-Back Registration as herein contemplated, the Corporation will

  
 - 8 -

 
give the Holder, the underwriter or underwriters of such distribution and their respective counsel, auditors and other representatives, the opportunity to participate in the preparation of such
documents and each amendment thereof or supplement thereto, and shall insert therein such material furnished to the Corporation in writing, which in the reasonable judgment of the Corporation and its counsel should be included, and will, subject to
the prior execution and delivery to the Corporation of reasonable confidentiality agreements, give each of them such reasonable and customary access to the Corporation’s books and records and such reasonable and customary opportunity to discuss
the business of the Corporation with its officers and auditors, and to conduct all reasonable and customary due diligence which the Holder and the underwriter or underwriters and their respective counsel may reasonable require in order to conduct a
reasonable investigation and in order to enable such underwriters to execute any certificate required to be executed by them in Canada for inclusion in such documents. 
  

	3.2	Indemnification by the Corporation 

 In connection with any Demand Registration and Piggy-Back Registration, the Corporation will indemnify and hold harmless the Holder, its Affiliates and each of their respective partners, directors,
officers, employees and agents and each Person who participates as an underwriter in the offering or sale of the Registrable Securities in connection with a Demand Registration or a Piggy-Back Registration, their respective directors, officers,
employees and agents and each person who controls such underwriter (within the meaning of Securities Laws), from and against any loss (excluding loss of profits), liability, claim, damage and expense whatsoever, including any amounts paid in
settlement of any investigation, order, litigation, proceeding or claim, joint or several, as incurred, arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, or any amendment
thereto, including all documents incorporated therein by reference, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading or as incurred, arising out of or based upon any failure to comply with applicable Securities Laws (other than any failure to comply with applicable Securities Laws by the Holder or the underwriter or underwriters);
provided that the Corporation will not be liable under this Section 3.2 for any settlement of any action effected without its written consent, which consent will not be unreasonably withheld or delayed; provided further that the indemnity
provided for in this Section 3.2 will not apply to any loss, liability, claim, damage or expense to the extent arising out of an untrue statement or omission or alleged untrue statement or omission (i) made in reliance upon and in
conformity with written information furnished to the Corporation by the Holder in writing expressly stating that such information is being provided by the Holder for use in the Prospectus (or any amendment thereto) or (ii) contained in any
Prospectus if the Holder failed to send or deliver a copy of the Prospectus (or any amendment or supplement thereto) to the Person asserting such losses, liabilities, claims, damages or expenses on or prior to the delivery of written confirmation of
any sale of securities covered thereby to such Person in any case where such Prospectus (or any amendment or supplement thereto) corrected such untrue statement or omission. Any amounts advanced by the Corporation to an Indemnified Party pursuant to
this Section 3.2 as a result of such losses will be returned to the Corporation if it is finally determined by such a court in a judgment not subject to appeal or final review that such Indemnified Party was not entitled to indemnification by
the Corporation. 

  
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	3.3	Indemnification by the Holder 

 In connection with any Demand Registration and Piggy-Back Registration, the Holder will indemnify and hold harmless the Corporation and each of the Corporation’s directors and officers, from and
against any loss (excluding loss of profits), liability, claim, damage and expense whatsoever described in the indemnity contained in Section 3.2, as incurred, but only with respect to untrue statements or omissions, or alleged untrue
statements or omissions, made in the Prospectus (or any amendment thereto) included in reliance upon and in conformity with written information furnished to the Corporation by the Holder in writing, expressly stating that such information is being
provided by the Holder for use in the Prospectus (or any amendment thereto); provided that the Holder will not be liable under this Section 3.3 for any settlement of any action effected without its written consent, which consent will not be
unreasonably withheld or delayed; provided further that the indemnity provided for in this Section 3.3 will not apply to any loss, liability, claim, damage or expense to the extent arising out of an untrue statement or omission or alleged
untrue statement or omission contained in any Prospectus if the Corporation failed to send or deliver a copy of the Prospectus (or any amendment or supplement thereto) to the Person asserting such losses, liabilities, claims, damages or expenses on
or prior to the delivery of written confirmation of any sale of securities covered thereby to such Person in any case where such Prospectus (or any amendment or supplement thereto) corrected such untrue statement or omission. Any amounts advanced by
the Holder to an Indemnified Party pursuant to this Section 3.3 as a result of such losses will be returned to the Holder if it is finally determined by such a court in a judgment not subject to appeal or final review that such Indemnified
Party was not entitled to indemnification by the Holder. 
  

	3.4	Defense of the Action by the Indemnifying Parties 

 Each party entitled to indemnification under this Article 3 (the “Indemnified Party”) will give notice to the party required to provide indemnification (the “Indemnifying
Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, but the omission to so notify the Indemnifying Party will not relieve it from any liability which it may have to the
Indemnified Party pursuant to the provisions of this Article 3 except to the extent of the damage or prejudice suffered by such delay in notification. The Indemnifying Party will assume the defense of such action, including the employment of counsel
to be chosen by the Indemnifying Party to be reasonably satisfactory to the Indemnified Party, and payment of expenses. The Indemnified Party will have the right to employ its own counsel in any such case, but the legal fees and expenses of such
counsel will be at the expense of the Indemnified Party, unless the employment of such counsel is authorized in writing by the Indemnifying Party in connection with the defense of such action, or the Indemnifying Party will not have employed counsel
to take charge of the defense of such action or the Indemnified Party reasonably concludes that there may be defenses available to it or them which are different from or additional to those available to the Indemnifying Party (in which case the
Indemnifying Party will not have the right to direct the defense of such action on behalf of the Indemnified Party), in any of which events such fees and expenses will be borne by the Indemnifying Party. No Indemnifying Party, in the defense of any
such claim or litigation, will, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Party of a release from all liability in respect to such claim or litigation. 

  
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	3.5	Contribution 

 If the
indemnification provided for in this Article 3 is unavailable to a party that would have been an Indemnified Party under this Article 3 in respect of any losses, liabilities, claims, damages and expenses referred to herein, then each party that
would have been an Indemnifying Party hereunder will, in lieu of indemnifying such Indemnified Party, contribute to the amount paid or payable by such Indemnified Party as a result of such losses, liabilities, claims, damages and expenses in such
proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and such Indemnified Party on the other hand in connection with the statement or omission which resulted in such losses, liabilities, claims,
damages and expenses, as well as any other relevant equitable considerations. The relative fault will be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to information supplied by the Indemnifying Party or such Indemnified Party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or
omission. The Corporation and the Holder agree that it would not be just and equitable if contribution pursuant to this Section 3.5 were determined by pro rata allocation or by any other method of allocation which does not take into account the
equitable considerations referred to above in this Section 3.5. 
  

	3.6	Limitation on Indemnification by the Holder 

 Notwithstanding any provision of this Agreement or any other agreement, in no event will the Holder be liable for indemnification hereunder for an amount greater than the net amount of proceeds that the
Holder received in any particular offering of securities in which its Registrable Securities were sold. 
  

	3.7	Survival 

 The
indemnification provided for under this Agreement will survive the expiry of this Agreement and will remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified Party or any officer, director or
controlling Person of such Indemnified Party and will survive any transfer of securities pursuant thereto. 
  

	3.8	Holder is Trustee 

 The
Corporation hereby acknowledges and agrees that, with respect to this Article 3, the Holder is contracting on its own behalf and as agent for the other indemnified Persons referred to in this Article 3. In this regard, the Holder will act as trustee
for such indemnified Persons of the covenants of the Corporation under this Article 3 with respect to such indemnified Persons and accepts these trusts and will hold and enforce those covenants on behalf of such indemnified Persons. 

 

	3.9	Corporation is Trustee 

The Holder hereby acknowledges and agrees that, with respect to this Article 3, the Corporation is contracting on its own behalf and as
agent for the other indemnified Persons referred to in this Article 3. In this regard, the Corporation will act as trustee for such 

  
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indemnified Persons of the covenants of the Holder under this Article 3 with respect to such indemnified Persons and accepts these trusts and will hold and enforce those covenants on behalf of
such indemnified Persons. 
 ARTICLE 4 
 AMENDMENTS 
  

	4.1	Amendments, Modifications, etc. 

 This Agreement may not be amended or modified, or any provision hereof waived, except by an agreement in writing executed by all the Parties. 

ARTICLE 5 

TERMINATION 
  

	5.1	Term 

 This Agreement
shall terminate on the earlier of the date that: (a) the Holder holds in the aggregate less than 10% of the issued and outstanding Shares of the Corporation, determined on a non-diluted basis; and (b) July 13, 2016, provided that the
provisions of Sections 2.3, 6.1, 6.4 and 6.6 and Article 3, shall survive termination of this Agreement and shall remain in full force and effect. 
 ARTICLE 6 
 GENERAL` 

 

	6.1	Severability 

 If one or
more provisions of this Agreement are held to be unenforceable under applicable law, portions of such provisions or such provisions in their entirety, to the extent necessary, shall be severed from this Agreement, and the balance of this Agreement
shall be enforceable in accordance with its terms. 
  

	6.2	Enurement 

 This Agreement
will be binding upon and enure to the benefit of the Parties to this Agreement and, from time to time, their respective successors and assigns, or permitted assigns, as provided under Section 6.3. 

 

	6.3	Assignment 

 Neither Party
shall have the right to transfer or assign this Agreement or any of its rights or obligations under this Agreement without the prior written consent of the other Party. 

  
 - 12 -

	6.4	Notices 

 All notices and
other communications under this agreement will be in writing and will be deemed to have been given if delivered personally or by confirmed telecopy to the Parties at the following addresses (or at any other address for the Party as is specified in
like notice): 
  

	 	(a)	if to the Corporation: 

Postmedia Network Canada Corp. 
 1450 Don Mills Road 
 Don Mills, Ontario M3B 2X7 

 

	 	Attention:	Paul Godfrey 

	 	Fax No.	(416) 383-2463 

 with a copy to: 

Goodmans LLP 

Bay Adelaide Centre 
 333 Bay Street, Suite 3400 
 Toronto, Ontario M5H 2S7 

 

	 	Attention:	Robert Chadwick 

	 	Fax No:	(416)979-1234 

  

	 	(b)	if to the Holder: 

 GoldenTree
Asset Management LP 
 300 Park Avenue, 21st Floor 
 New York, NY 10022 
  

	 	Attention:	Karen Weber 

	 	Fax No:	212-847-3496 

 Any notice or
other communication given personally will be deemed to have been given and received upon delivery and if given by telecopy will be deemed to have been given and received on the date of receipt unless that day is not a Business Day in which case it
will be deemed to have been given and received upon the immediately following Business Day. 
  

	6.5	Counterparts 

 This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which taken together shall be deemed to constitute one and the same instrument. Counterparts may be executed either in original or
faxed form and the Parties adopt any signatures received by a receiving fax machine as original signatures of the Parties; provided, however, that any Party providing its signature in such manner shall promptly forward to the other Parties an
original of the signed copy of this Agreement which was so faxed. 

  
 - 13 -

	6.6	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial 

  

	 	(a)	This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. Each of the
Parties hereby irrevocably attorns and submits to the non-exclusive jurisdiction of the courts of the Province of Ontario in respect of the interpretation and enforcement of the provisions of this Agreement and of the documents hereby, and hereby
waives, and agrees not to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or of any such document, that it is not subject thereto or that such action, suit or proceeding may not be brought or is
not maintainable in such courts or that the venue thereof may not be appropriate or that this Agreement or any document may not be enforced in or by such courts. 

 

	 	(b)	EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH
SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT. 

  

	6.7	Delay or Omissions 

 No
delay or omission to exercise any rights, power or remedy accruing to any Party to this Agreement, upon the breach or default of the other Party shall impair any such rights, power or remedy of such non-breaching Party nor shall it be construed to
be a waiver of any such breach or default, or an acquiescence therein, or of any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or
thereafter occurring. Any waiver, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, must be made in writing and shall be effective only to the extent specifically set forth in such
writing. All remedies, ether under this Agreement or by law or otherwise afforded to the parties, shall be cumulative and not alternative. 
  

	6.8	Remedies 

 Any Person
having rights under any provision of this Agreement will be entitled to enforce such rights specifically to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights granted by law. The
Parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction
(without posting any bond or other security) for specific performance and for other injunctive relief in order to enforce or prevent violation of the provisions of this Agreement. 

  
 - 14 -

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 - 15 -

 IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be duly executed
as of the date first written above. 
  

					
	POSTMEDIA NETWORK CANADA CORP.
		
	By:	 	 “Steven Pasternak”

		 	Name:	 	Steven Pasternak
		 	Title:	 	Senior Vice President and General Counsel
	
	GOLDENTREE ASSET MANAGEMENT LP
		
	By:	 	 “Barry Ritholz”

		 	Name:	 	Barry Ritholz
		 	Title:	 	Vice President

  
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 SCHEDULE “A” 

REGISTRATION PROCEDURES 
  

	1.1	Registration Procedures 

  

	 	(a)	In connection with the Corporation’s Demand Registration and Piggy-Back Registration obligations pursuant to this Agreement, the Corporation will use commercially
reasonable efforts in accordance with the Registration Rights Agreement to effect the qualification for the offer and sale or other disposition or Distribution of Registrable Securities of the Holder in one or more Canadian jurisdictions as directed
by the Holder, and pursuant thereof the Corporation will: 

  

	 	(i)	prepare and file promptly (in any event within 60 days after the request for a Demand Registration has been delivered to the Corporation), in the English language and,
if required, French language, with the Canadian securities authorities (collectively, the “Securities Regulators”) a preliminary Prospectus and Prospectus under and in compliance with the Securities Laws, relating to the applicable
Demand Registration including all exhibits, financial statements and such other related documents required by the Securities Regulators to be filed therewith, and use its commercially reasonable efforts to cause such Prospectus to be receipted;
provided, that the Corporation will furnish to the Holder and the managing underwriters or underwriters, if any, copies of such preliminary Prospectus and Prospectus and any amendments or supplements in the form filed with the Securities Regulators,
promptly after the filing of such preliminary Prospectus and Prospectus, amendments or supplements; 

  

	 	(ii)	prepare and file with the Securities Regulators such amendments and supplements to the preliminary Prospectus and Prospectus as may be necessary to complete the
Distribution of all such Registrable Securities and as required under the Securities Act or under any applicable provisions of Securities Laws; 

  

	 	(iii)	notify the Holder and the managing underwriters or underwriters, if any, and (if requested) confirm such advice in writing, as soon as practicable after notice thereof
is received by the Corporation (i) when the preliminary Prospectus and Prospectus or any amendment thereto has been filed or been receipted, and, to furnish to the Holder and managing underwriters or underwriters, if any, with copies thereof,
(ii) of any request by the Securities Regulators for amendments to the preliminary Prospectus, the Prospectus or for additional information, (iii) of the issuance by the Securities Regulators of any stop order or cease trade order relating
to the Prospectus or any order preventing or 

	 	 
suspending the use of any preliminary Prospectus or Prospectus or the initiation or threatening for any proceedings for such purposes, and (iv) of the receipt by the Corporation of any
notification with respect to the suspension of the qualification of the Registrable Securities for offering, sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; 

 

	 	(iv)	promptly notify the Holder and the managing underwriter or underwriters, if any, at any time during the period of effectiveness set forth in Section 1.1(a)(ii) of
this Schedule, when the Corporation becomes aware of the happening of any event as a result of which the preliminary Prospectus or the Prospectus contains any untrue statement of a material fact or omits to state a material fact necessary to make
the statement therein (in the case of the preliminary Prospectus or Prospectus in light of the circumstances under which they were made) when such preliminary Prospectus or the Prospectus was delivered not misleading or, if for any other reason it
will be necessary during such time period to amend or supplement the preliminary Prospectus or the Prospectus in order to comply with Securities Laws and, in either case as promptly as practicable, prepare and file with the Securities Regulators,
and furnish without charge to the Holder and the managing underwriters or underwriters, if any, a supplement or amendment to such preliminary Prospectus or Prospectus which will correct such statement or omission or effect such compliance;

  

	 	(v)	make commercially reasonable efforts to obtain the withdrawal of any stop order, cease trade order or other order suspending the use of any preliminary Prospectus or
Prospectus or suspending any qualification of the Registrable Securities covered by the Prospectus; 

  

	 	(vi)	furnish to the Holder and each managing underwriter or underwriter, if any, without charge, one executed copy and as many conformed copies as they may reasonably
request, of the Prospectus and any amendment thereto, including financial statements and schedules, all documents incorporated therein by reference, and provide the Holder and its counsel with an opportunity to review, and provide comments to the
Corporation on the Prospectus; 

  

	 	(vii)	deliver to the Holder and the underwriters, if any, without charge, as many copies of the preliminary Prospectus and the Prospectus and any amendment or supplement
thereto as such Persons may reasonably request (it being understood that the Corporation consents to the use of the preliminary Prospectus and the Prospectus or any amendment thereto by each of the Holder and the underwriters, if any, in connection
with the offering and sale of the Registrable Securities covered by the preliminary Prospectus and the Prospectus or any amendment or supplement thereto) and such other documents as the Holder may reasonably request in order to facilitate the
disposition of the Registrable Securities by such Person; 

  
 - 2 -

	 	(viii)	on or prior to the date on which a receipt is issued for the Prospectus by the applicable Securities Regulators, use commercially reasonable efforts to qualify, and
cooperate with the Holder, the managing underwriter, underwriters or agent, if any, and their respective counsel in connection with the qualification of such Registrable Securities for offer and sale under the Securities Laws of each province and
other jurisdiction of Canada as any such Person, underwriter or agent reasonably requests in writing provided that the Corporation will not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to
take any action which would subject it to general service of process in any such jurisdiction where it is not then so subject; 

  

	 	(ix)	in connection with any underwritten offering enter into customary agreements, including an underwriting agreement with the underwriter or underwriters, such agreements
to contain such representations and warranties by the Corporation and such other terms and provisions as are customarily contained in underwriting agreements with respect to secondary distributions and indemnification provisions and/or agreements
substantially consistent with Article 3; 

  

	 	(x)	as promptly as practicable after filing with the Securities Regulators any document which is incorporated by reference into the Prospectus, provide copies of such
document to counsel for the Holder and to the managing underwriters or underwriters, if any; 

  

	 	(xi)	use its commercially reasonable efforts to obtain a customary legal opinion, in the form and substance as is customarily given by company counsel in securities
offerings, addressed to the Holder and the underwriters, if any, and such other Person as the Holder may reasonably specify; 

  

	 	(xii)	furnish to the Holder and the managing underwriter or underwriters, if any, and such other Person as the Holder may reasonably specify, such corporate certificates,
satisfactory to the Holder acting reasonably, as are customarily furnished in securities offerings, and, in each case, covering substantially the same matters as are customarily covered in such documents in the relevant jurisdictions and such other
matters as the Holder may reasonably request; and 

  

	 	(xiii)	provide a transfer agent and registrar for such Shares no later than the closing date of the offering. 

 

	 	(b)	 The Corporation may require the Holder to furnish to the Corporation such information regarding the Distribution of such securities and such other
information relating to the Holder and its ownership of Shares as the Corporation may from time to time reasonably request in writing as may be required by the Corporation to comply with applicable Securities Laws in each jurisdiction in which

  
 - 3 -

	 	 
a Demand Registration or Piggy-Back Registration is to be effected. The Holder agrees to furnish such information to the Corporation and to cooperate with the Corporation as necessary to enable
the Corporation to comply with the provisions of this Agreement and applicable Securities Laws. The Holder shall promptly notify the Corporation, at any time during the period of effectiveness set forth in Section 1.1(a)(ii) of this Schedule,
when the Holder becomes aware of the happening of any event as a result of which the preliminary Prospectus or the Prospectus contains any untrue statement of a material fact or omits to state a material fact necessary to make the statement therein
(in the case of the preliminary Prospectus or Prospectus in light of the circumstances under which they were made) when such preliminary Prospectus or the Prospectus was delivered not misleading or, if for any other reason it will be necessary
during such time period to amend or supplement the preliminary Prospectus or the Prospectus in order to comply with Securities Laws. 

  
 - 4 -

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