Document:

Transition Agreement

 Exhibit 10.5 
 TRANSITION AGREEMENT 
 THIS TRANSITION AGREEMENT (this
“Agreement”), is made and entered into as of the 15th day of May, 2012, by and between CBRE, INC. and CBRE GROUP, INC. (collectively, the “Company”), and BRETT WHITE (“Executive”). 

W I T N E S S E T H: 
 WHEREAS, the Company currently employs Executive as its Chief Executive Officer, and Executive currently serves as a member of the Company’s Board of Directors (the “Board of
Directors”); 
 WHEREAS, Executive wishes to resign from the position of Chief Executive Officer on December 31,
2012 (the “Effective Date”) and the Board of Directors has indicated that it will accept such resignation on such date; and 
 WHEREAS, Executive and the Company deem it to be in their respective best interests to enter into this Agreement upon the terms and subject to the conditions set forth herein. 

NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements contained herein, it is hereby agreed as
follows: 
 1. Transition Period. 
 (a) From the date of this Agreement through the Effective Date (the “Transition Period”), Executive shall continue to serve as Chief Executive Officer. On or before December 1, 2012,
Executive shall submit a letter of resignation to the Board of Directors effective as of the Effective Date. Executive’s resignation will be deemed voluntary and in furtherance of an agreed upon plan of transition and succession that the Board
of Directors has approved and the Company has announced publicly. 
 (b) During the Transition Period, Executive shall remain
subject to the Company’s policies and standards of conduct, and the Company retains the right to terminate the Executive’s employment with or without Cause, as defined in the Special Retention Award Restricted Stock Unit Agreement dated
March 4, 2010 (the “2010 RSU Agreement”). 
 2. Service on the Board of Directors. Nothing in this
Agreement shall affect the Executive’s current term as a member of the Company’s Board of Directors and, for avoidance of doubt, Executive’s resignation hereunder shall not be considered a resignation from his membership on the Board
of Directors. Following the Transition Period, if Executive continues to serve on the Board of Directors, he shall be considered for purposes of the Board’s director compensation policy an outside director commencing service on the day
following the Effective Date. 
 3. Compensation and Benefits. 

(a) Base Salary and Benefit Plans. Subject to Section 5, during the Transition Period, the Company agrees to continue to pay
Executive his current base salary in regular 

 
installments in accordance with the Company’s normal payroll procedures, and to continue Executive’s participation in current benefit plans, according to the terms of such plans and
programs as they may exist from time to time. 
 (b) Annual Bonus for 2012. Subject to Section 5 and provided
Executive signs a document on December 31, 2012 extending the release in Section 10 to cover the period from the date of this Agreement through the Effective Date, Executive shall be paid his target annual bonus for 2012 in the amount of
$1,950,000 (“Annual Bonus”) on the Effective Date. 
 4. Equity Awards. Provided Executive signs a
document on December 31, 2012 extending the release in Section 10 to cover the period from the date of this Agreement through the Effective Date, equity awards issued by the Company to the Executive shall vest as follows: 

(a) Subject to the forfeiture provisions of Section 6(d) below, grants of restricted stock shall be treated as follows: 

(i) Restricted Stock Grant of July 9, 2009. Vesting of one-fourth of the shares shall be accelerated on the Effective Date
and the award shall, thus, be fully vested on that date. 
 (ii) Restricted Stock Grant of September 9, 2009.
Vesting of one-fourth of the shares shall be accelerated on the Effective Date and the award shall, thus, be fully vested on that date. 
 (iii) Restricted Stock Grant of September 8, 2011. Vesting of one-fourth of the shares shall be accelerated on the Effective Date and the award shall, thus, be fifty percent (50%) vested
on that date and all remaining unvested shares shall be forfeited as of that date. 
 (iv) Restricted Stock Grant for
2012. During September 2012, Executive shall receive a restricted stock grant with a grant date value equal to $1,712,500, which shall be fully vested on the Effective Date. 

(b) 2010 RSU Agreement. The grant of restricted stock units under the 2010 RSU Agreement shall vest in
accordance with the terms of the 2010 RSU Agreement for a Retirement (as defined in the 2010 RSU Agreement). For the avoidance of doubt, the 2010 RSU Agreement restricted stock units shall be deemed 33/60th vested on the Effective Date, shall be converted to shares that will
be delivered on March 4, 2015 and shall remain subject to (i) forfeiture for violation of Section 8 of the 2010 RSU Agreement and (ii) recoupment upon a financial restatement, all as set forth in Section 9 of the 2010 RSU
Agreement. 
 (c) Executive’s Irrevocable Election to Sell-to-Cover Income Taxes. Executive hereby irrevocably
elects to sell sufficient shares upon the accelerated vesting set forth in Section 4(a) above to pay the income taxes due and payable on such date as a result of such vesting, pursuant to the mechanism used in the past by the Company for
handling sell-to-cover transactions by employee holders of its restricted shares. The Company acknowledges that Executive’s irrevocable election is being made during an open trading window and agrees to take steps necessary and appropriate to
effectuate such election and to facilitate such sales and tax payments. 

  
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 5. Separation from Service during the Transition Period. 

(a) In the event of a Separation from Service during the Transition Period for any reason other than (i) by the Company for Cause or
(ii) by Executive’s voluntary resignation without Good Reason (each as defined in the 2010 RSU Agreement), Executive shall be entitled to continue to receive his Base Salary through December 31, 2012 and shall remain entitled to his
full-year 2012 target bonus (which shall be paid on the effective date of such Separation from Service), as well as any benefits which are then due to him under the Company’s benefit plans. The acceleration of vesting pursuant to Section 4
shall occur on the effective date of such Separation from Service. 
 (b) The Company shall have the right to separate Executive
from service at any time for Cause (as defined in the 2010 RSU Agreement) during the Transition Period by giving Executive written notice of the effective date of termination (which effective date may, except as otherwise provided below, be the date
of such notice). In the event of a Separation from Service by the Company for Cause, the Company shall have no further obligations hereunder from and after the effective date of separation and shall have all other rights and remedies available under
this or any other agreement and at law or in equity, except that Executive shall remain entitled to any benefits which are then due to him under the Company’s benefit plans. If Executive does not consent to such a Separation from Service by the
Company with Cause, Executive shall perform no further duties hereunder, but such Separation from Service shall not be considered immediately effective and Executive’s rights under this Agreement during the Transition Period shall continue
until the existence of Cause has been determined by an independent arbitrator appointed by the American Arbitration Association and either party’s rights to petition a court of law for a decision in the matter have been exhausted. In connection
with the appointment of an arbitrator, both parties agree to submit the question to final and binding arbitration in the County of Los Angeles, California by an appointee of the American Arbitration Association and to cooperate with the arbitrator.
If the arbitrator determines that Executive’s termination was for Cause, then Executive’s termination shall be considered effective as of the date set forth in the notice of termination, and Executive shall repay to the Company all
compensation received pursuant to this Agreement (including delivery of restricted stock) during the period commencing upon Executive’s termination and ending upon the arbitrator’s final determination. If the arbitrator determines that
Executive’s termination was not for Cause, then such termination shall be considered without Cause, and shall be effective on the earlier of the date the arbitrator makes his or her determination or the Effective Date, and Section 5(a)
shall apply. 
 (c) In the event of a Separation from Service during the Transition Period due to resignation by Executive
during the Transition Period without Good Reason (as defined in the 2010 RSU Agreement), the Company shall have no further obligations hereunder from and after the effective date of such Separation from Service and shall have all other rights and
remedies available under this or any other agreement and at law or in equity. Executive shall remain entitled to any benefits accrued by him prior to the date of termination under the Company’s benefit plans but shall receive no annual
incentive bonus for 2012. 

  
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 6. Non-Solicitation and Non-Interference. During the period commencing on the date of
this Agreement and ending on March 4, 2015, Executive will not, whether on Executive’s own behalf or on behalf of or in conjunction with any person, company, business entity or other organization whatsoever, directly or indirectly without
the prior express written permission of the Company: 
 (a) interfere with, or attempt to interfere with, business relationships
(whether formed before, on or after the date of this Agreement) between the Company or any of its Affiliates and customers, clients, suppliers, partners, members or investors of the Company or its Affiliates; or 

(b) solicit or encourage any employee of the Company or its Affiliates (and, for this purpose “employee” will include any real
estate professional who is an independent contractor or QREA) to leave the employment of the Company or its Affiliates. 
 (c)
It is expressly understood and agreed that although Executive and the Company consider the restrictions contained in this Section 6 to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that the time
or territory or any other restriction contained in this Agreement is an unenforceable restriction against Executive, the provisions of this Agreement shall not be rendered void but shall be deemed amended to apply as to such maximum time and
territory and to such maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Agreement is unenforceable, and such
restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein. 
 (d) If Executive breaches Section 6(a) or (b), then Executive shall be obligated to return to the Company all restricted stock shares accelerated pursuant to Section 4(a) of this Agreement (or,
at Executive’s election the cash value of such shares as of the time of payment or the time of Executive’s breach, whichever is greater, based on the most recent closing price for the shares as of such date). 

(e) The restricted stock units vested under Section 4(b) of this Agreement shall be subject to forfeiture and/or recoupment in
accordance with the terms and provisions of the 2010 RSU Agreement and nothing in this Section 6 shall be deemed to modify the terms of the 2010 RSU Agreement. 
 7. Confidential Information. 
 (a) Executive agrees that any and all
confidential knowledge or information, including but not limited to customer lists, books, records, data, formulae, specifications, inventions, processes and methods, developments, and improvements, which has or have been or may be obtained or
learned by Executive in the course of his employment with the Company, will be held confidential by Executive and that Executive will not disclose the same to any person outside of the Company either during his employment with the Company or after
his employment with the Company has terminated. 

  
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 (b) Executive agrees that upon termination of his employment with the Company, he will
immediately surrender and turn over to the Company all customer lists, books, records, forms, specifications, formulae, data, and all papers and writings relating to the business of the Company and other property belonging to the Company, it being
understood and agreed that the same are the sole property of the Company and the Executive will not make or retain any copies thereof. 
 (c) Executive agrees that all inventions, developments or improvements which he makes, conceives, invents, discovers or otherwise acquires during his employment with the Company in the scope of his
responsibilities or otherwise shall become the sole property of the Company. 
 8. Injunctive Relief. Because
Executive’s services are unique and because Executive has access to confidential information, the parties hereto agree that money damages would be an inadequate remedy for any breach of this Agreement. Therefore, in the event of a breach or
threatened breach of Section 6 or 7 of this Agreement, the Company or its successors or assigns may, in addition to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for specific performance and/or
injunctive or other relief in order to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security). 
 9. Representations. 
 (a) Executive hereby represents and warrants to the
Company that (i) the execution, delivery and performance of this Agreement by Executive does not and will not conflict with, breach, violate or cause a default under any agreement, contract or instrument to which Executive is a party or any
judgment, order or decree to which Executive is subject, and (ii) Executive is not a party to or bound by any employment agreement, consulting agreement, non-compete agreement, confidentiality agreement or similar agreement with any other
person or entity, and (iii) Executive has been provided with the opportunity to have this Agreement reviewed by Executive’s legal counsel prior to its execution. 
 (b) The Company hereby represents and warrants to Executive that (i) this Agreement has been duly authorized by all necessary corporate action on the part of the Company; and (ii) the execution,
delivery and performance of this Agreement by the Company does not and will not conflict with, breach, violate or cause a default under any agreement, contract or instrument to which the Company is a party or any judgment, order or decree to which
the Company is subject. 
 10. Release. 
 (a) Except for obligations under this Agreement, the 2010 RSU Agreement and the Indemnification Agreement described in Section 13(a) below, Executive, for Executive, Executive’s successors,
administrators, heirs and assigns, hereby fully and generally releases, waives and forever discharges the Company and its stockholders, directors, officers, employees, agents and attorneys, whether past, present or future (the “Released
Parties”), from any and all actions, suits, debts, demands, damages, claims, judgments, liabilities, benefits or other remedial 

  
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relief of any nature, including, costs and attorneys’ fees, based on acts or occurrences prior to execution of this Agreement, whether known or unknown, including, without limitation, all
claims arising out of Executive’s employment prior to and on the date of this Agreement with the Company, as the case may be, their respective subsidiaries and affiliates, their predecessors, successors, assigns, such as (by way of example
only) any claim for compensation or other benefits apart from the benefits stated herein and which are provided to Executive under the Company Benefit Plans; material breach of contract; impairment of economic opportunity; any claim under common-law
or equity; any tort; claims for reimbursements; claims for commissions; implied or express employment contracts and/or estoppel; or claims for employment discrimination under the Age Discrimination in Employment Act, as amended; Title VII of the
Civil Rights Act of 1964, as amended, the Rehabilitation Act of 1973, as amended, the Americans with Disabilities Act of 1990, as amended, the Civil Rights Act of 1866 and 1991, as amended, the Employee Retirement Income Security Act of 1974, as
amended, the California Fair and Employment and Housing Act, the California Labor Code, or any other state, federal or local law, statute, or regulation. Executive acknowledges and agrees that this release is an essential and material term of this
Agreement and that, without such release, no agreement would have been reached by the parties and no benefits under this Agreement would have been paid. Executive understands and acknowledges the significance and consequences of this Agreement.

 (b) Executive hereby expressly waives any and all rights or benefits conferred by the provisions of SECTION 1542 OF THE
CALIFORNIA CIVIL CODE and expressly consents that the release provided in this Agreement shall be given full force and effect according to each and all of its express terms and conditions, including those relating to unknown claims, demands and
causes of actions, if any, as well as those relating to any other claims, demands and causes of action hereinabove specified. Section 1542 provides: 
 “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have
materially affected his or her settlement with the debtor.” 
 Executive acknowledges that he may hereafter discover claims or facts in
addition to or different from those which he now knows or believes to exist with respect to the subject matter of this Agreement and which, if known or suspected at the time of executing this Agreement, may have materially affected this Agreement.
Nevertheless, Executive hereby waives any right, claim or cause of action that might arise as a result of such different or additional claims or facts. Executive acknowledges that he understands the significance and consequence of such release and
such specific waiver of SECTION 1542. 

  
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 (c) ADEA Waiver. Executive expressly acknowledges and agrees that, by entering into
this Agreement, he is waiving any and all rights or claims that he may have arising under the Age Discrimination in Employment Act of 1967, as amended, which have arisen on or before the date of execution of this Agreement. Executive also expressly
acknowledges and agrees that: 
 (i) In return for this Agreement, Executive will receive consideration, i.e., something
of value, beyond that to which he was already entitled before entering into this Agreement; 
 (ii) Executive is hereby advised
in writing by this Agreement to consult with an attorney before signing this Agreement; 
 (iii) Executive acknowledges that he
was given 21 days within which to consider this Agreement before signing it, although Executive may sign it sooner if he so desires; and 
 (iv) Executive acknowledges and understands that he has 7 days following his execution of this Agreement in which to revoke it in writing by delivering written revocation to the Company’s General
Counsel. 

  
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 11. Cooperation. Executive agrees not to encourage or assist in any litigation
against the Company or any Released Parties or provide testimony in any matter in which the Company or any Released Party has an interest unless he is required by law. Executive agrees to cooperate fully with any Released Party in connection with
any pending or future litigation or investigatory matter (including but not limited to any Company investigation into Compliance or other policy violations) in which and to the extent the Company reasonably deems his cooperation to be necessary.
Executive acknowledges and agrees that such cooperation may include, but shall in no way be limited to, Executive being available for an interview with any of the Released Parties, or any attorney or agent retained by any of the Released Parties,
providing to any of the Released Parties any documents in his possession or under his control relating to the litigation or investigatory matter, and providing truthful sworn statements in connection with the litigation or investigatory matter.
Executive also agrees, upon request by the Company, to provide information to the Company that he learned during the course of his employment relationship with the Company. If Executive is served with process concerning any matter in which the
Company or any Released Party has an interest, he agrees to immediately notify the Company. The Company will reimburse Executive for reasonable travel expenses in accordance with the travel policies then in effect. This reimbursement is for
Executive’s convenience. The Company confirms its expectation that Executive will provide truthful information in accordance with this paragraph. 
 12. Non-disparagement. Executive will not make any statement that is disparaging to the Company, or to any Released Party, and will not make any statement that is calculated to, or which
foreseeably will, disrupt, disparage, damage, impair or otherwise interfere with the business or reputation of the Company or any Released Party. Notwithstanding the foregoing, it shall not be a breach of this provision for Executive to make
truthful statements in any court, administrative or other governmental proceeding, pursuant to a validly issued subpoena or as required by law. No member of the Company’s Board or any executive officer of the Company will make any statement
that is disparaging to Executive, nor make any statement that is calculated to, or which foreseeably will, disrupt, disparage, damage, impair or otherwise interfere with the reputation of Executive. Notwithstanding the foregoing, it shall not be a
breach of this provision for such persons to make truthful statements in any court, administrative or other governmental proceeding, pursuant to a validly issued subpoena or as required by law. 

13. Miscellaneous. This Agreement shall also be subject to the following miscellaneous considerations: 

(a) The Company’s obligations under the Indemnification Agreement between it and the Executive, dated June 2, 2010 shall
survive this Agreement and its termination. 
 (b) In any action at law or in equity to enforce any of the provisions or rights
under this Agreement, the unsuccessful party in such action, as determined by the Court in a final judgment or decree, shall pay the successful party or parties all costs, expenses and reasonable attorneys’ fees incurred therein by such party
or parties (including without limitation such costs, expenses and fees on any appeals), and if such successful party or parties shall recover judgment in any such action or proceeding, such costs, expenses, and attorneys’ fees shall be included
as part of such judgment. Notwithstanding the foregoing provision, in no event shall the successful 

  
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party or parties be entitled to recover an amount from the unsuccessful party or parties for costs, expenses and attorneys’ fees that exceeds the costs, expenses and attorneys’ fees of
the unsuccessful party or parties in connection with the action or proceeding. 
 (c) Either party’s failure to enforce any
provision or provisions of this Agreement shall not in any way be construed as a waiver of any such provision or provisions, or prevent that party thereafter from enforcing each and every other provision of this Agreement. 

(d) It is the desire and intent of the parties hereto that the provisions of this Agreement be enforced to the fullest extent permissible
under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision of this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or
unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of this Agreement or affecting the validity or
enforceability of such provision in any other jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such jurisdiction,
be so narrowly drawn, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. 
 (e) This Agreement contains a complete statement of all the arrangements between the parties with respect to Executives employment by the Company, this Agreement supersedes all prior and existing
negotiations and agreements between them concerning Executive’s employment, except as expressly addressed herein, and this Agreement can only be changed or modified pursuant to a written instrument executed by each of the parties hereto.

 (f) The parties intend this Agreement to meet the requirements of Section 409A of the Internal Revenue Code and the
regulations and other guidance thereunder. This Agreement shall be construed in accordance therewith. 
 (g) All
compensation payable hereunder shall be subject to such withholding taxes as may be required by law. Executive understands and agrees that the Company is providing no tax or legal advice, and makes no representations regarding tax obligations or
consequences, if any, related to any part of this Agreement. Executive further agrees that he will assume any such tax obligations or consequences that may arise from this Agreement, and he shall not seek any indemnification from the Company in this
regard. Executive further agrees to indemnify and hold the Company harmless from any claims, demands, deficiencies, levies, assessments, executions, judgments, penalties, taxes, attorneys’ fees or recoveries by any governmental entity against
the Company for any failure by Executive to pay taxes due and owing, if any, as a result of any consideration received under this Agreement. 
 (h) This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. The Company will require any successor, whether direct or indirect, by purchase, merger,
consolidation or otherwise, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Except as expressly provided
herein, Executive may not sell, transfer, assign, or pledge any of his rights or interests pursuant to this Agreement. 

  
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 (i) This Agreement shall be governed by and construed in accordance with the laws of the
State of California, except to the extent governed by federal law. 
 (j) Any notice or other communication required or
permitted to be given hereunder shall be deemed properly given if personally delivered or deposited in the United States mail, registered or certified and postage prepaid, addressed to the Company at 11150 Santa Monica Boulevard, Los Angeles,
California 90025, Attention: General Counsel, or to Executive at
                                     or at such other
addresses as may from time to time be designated in writing by the respective parties. 
 (k) This Agreement may be executed in
counterparts, each of which shall be deemed an original, but both of which together shall constitute one and the same agreement, binding on all of the parties hereto. 
 IN WITNESS WHEREOF, the parties hereto have read, understood, and voluntarily executed this Agreement as of the day and year first above written. 

 

			
	 CBRE GROUP, INC.

	 CBRE, INC.

		
	 By:
	 	 /s/ LAURENCE H. MIDLER

		 	Laurence H. Midler
	 Its:
	 	Executive Vice President & General Counsel
		
	 By:
	 	 /s/ BRETT WHITE

		 	BRETT WHITE
		 	

  
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 Exhibit 10(a) 
 TIM HORTONS INC. 
 EXECUTIVE ANNUAL PERFORMANCE PLAN 

(As amended and restated effective September 28, 2009) 
 Most Recently Amended: August 9, 2012 
 1. Purpose. The purpose of
the Executive Annual Performance Plan (the “Plan”) is to enhance the ability of Tim Hortons Inc., a corporation incorporated under the Canada Business Corporations Act (the “Company”) and its subsidiaries to attract,
motivate, reward, and retain key employees, to strengthen their commitment to the success of the Company and to align their interests with those of the Company’s shareholders by providing additional compensation to designated key employees of
the Company based on the achievement of performance objectives. To this end, the Plan provides a means of rewarding Participants based on the performance of the Company and/or one or more of its Operating Units, and/or based on a Participant’s
individual performance. 
 2. Administration. 
 (i) The Plan shall be administered by the Committee and the CEO as provided herein. The Committee shall have full authority to: (A) establish the rules and regulations relating to the Plan,
(B) interpret the Plan and those rules and regulations, (C) determine the Performance Objectives of the Company, and/or one or more the Operating Units, and/or one or more Participants, (D) decide the facts in any case arising under
the Plan, and (E) to make all other determinations and to take all other actions necessary or appropriate for the proper administration of the Plan, including the delegation of such authority or power, where appropriate. The Committee’s
administration of the Plan, including all such rules and regulations, interpretations, selections, determinations, approvals, decisions, delegations, amendments, terminations and other actions, shall be final and binding on the Company, its
shareholders and the Participants and their beneficiaries. 
 (ii) Subject to the authority and discretion of the Committee, the
CEO shall have the full authority to determine: (A) the Participants in the Plan; (B) the Award opportunities for such Participants, and (C) whether such Award opportunities shall be based on: (I) the Performance Objectives of
the Company, or (II) a combination of the Performance Objectives of the Company and one or more Operating Units and/or, for Participants that are not Executive Officers, the Performance Objectives of one or more individual Participants. 

3. Eligible Employees. Generally, all Employees are eligible to participate in the Plan for any fiscal year. However,
participation shall be limited to those Employees selected by the CEO, subject to the authority and discretion of the Committee, to participate in the Plan for each fiscal year, in accordance with Section 4. 

4. Determination of Awards. For each fiscal year, the Committee shall establish the Performance Objectives of the Company and/or
Operating Units and/or for one or more individual Participants. Subject to the authority and discretion of the Committee, the CEO shall determine (i) the Employees who shall be Participants during each fiscal year, (ii) whether Awards for
each Participant shall be based solely upon the achievement of Performance Objectives of the Company, or on a combination of the achievement of Performance Objectives 

 
for the Company and for one or more Operating Units and/or, for Participants that are not Executive Officers, the achievement of Performance Objectives of one or more individual Participants,
(iii) the Award opportunities for each Participant, including the extent to which Awards will be payable for actual performance between each level of the Performance Objectives, and (iv) any adjustments described in Section 10 hereof.
The CEO shall provide to the Committee, for consideration in accordance with its delegated authority from the Board, a schedule that indicates the Participants selected, their Award opportunities, and whether such Awards will be based on the
Performance Objectives of the Company or a combination of the Company and one or more Operating Units and/or the individual Performance Objectives of such Participants, and any proposed adjustments as described in Section 10 hereof. The Company
shall notify each Participant of the applicable Performance Objectives for such Participant and his or her corresponding Award opportunities for each fiscal year. 

5. Payment of Awards. As soon as practicable after the determination of the Company’s and, if applicable,
the Operating Units’ financial performance for a fiscal year, but no later than the 15th day of the third month following the end of such fiscal year, each Award to the extent earned shall be paid in a single lump sum cash payment, less applicable withholding taxes. Notwithstanding the
foregoing, a Participant may elect to defer all or a portion of any Award that will otherwise become payable in accordance with this Section, if permitted pursuant to (and in accordance with) a deferred compensation plan adopted by, or an agreement
entered into with, the Company or any of its subsidiaries. 
 6. Discretionary Bonuses. In addition
to any Awards payable under Section 4, the CEO, after consultation with the Committee and subject to the authority and discretion of the Committee, shall have the authority to make additional cash incentive awards to any Employees selected by
the CEO in amounts determined by the CEO. Any such Award shall be paid to the applicable employee no later than the
15th day of the third month following the end of the
fiscal year in which the award is determined. 
 7. Termination of Employment. 

(i) No Award or pro-rated portion of an Award for a fiscal year shall be payable to any Participant unless he or she is employed by the
Company or one of its subsidiaries on the payment date for Awards payable in respect of the fiscal year, unless the Participant’s employment was terminated because of his or her (i) death, (ii) disability or (iii) Retirement, in
which event the Participant will be entitled to a pro-rata portion (which shall be 100% if such termination occurs after the end of the fiscal year and prior to the payment date) of the Award otherwise payable in respect of that fiscal year, subject
to the Committee’s discretion as set forth in Section 2 hereof, or the discretion of the CEO or the Chair of the Committee, as described in Section 7(ii) hereof, as applicable. For purposes of further clarity, without limiting the
generality of the foregoing, even if a Participant is terminated without Cause or is otherwise found by a court of competent jurisdiction to have been wrongfully terminated prior to the payment date for Awards in respect of a fiscal year, the
Participant will receive no pro-rated Award, and the notice or pay in lieu of notice that the Participant receives in connection with termination will not have any component for damages representing the amount of an Award over any period of notice
and, further, the employee will not be eligible for an Award for such period. 
 (ii) The Chief Executive Officer of the Company
shall have the discretion to determine, at any time prior to or after a termination of employment of a Participant who is not an Executive 

  
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Officer, whether and, if applicable, the amount of any pro-rata portion of an Award that the CEO determines may be payable to such individual pursuant to Section 7(i), provided that the
aggregate value of the pro-rata portion of the Award to which such Participant would be entitled does not exceed $500,000. The Chair of the Committee shall have this discretion for Participants who are not Executive Officers where the aggregate
value of any pro-rata portion of an Award that the CEO determines may be payable to such Participant would exceed $500,000. 

8. Misconduct. In the event that a Participant has (i) used for profit or disclosed to unauthorized persons, confidential
information or trade secrets of the Company or its subsidiaries, or (ii) breached any contract with or violated any fiduciary obligation to the Company or its subsidiaries, or (iii) engaged in unlawful trading in the securities of the
Company or its subsidiaries or of another company based on information gained as a result of that Participant’s employment with, or status as a director to, the Company or its Subsidiaries, no Award or pro-rated portion of an Award for a fiscal
year shall be payable to any such Participant, unless the Committee shall determine otherwise. 
 9. Change in Control.
Notwithstanding any provision in the Plan to the contrary, upon the occurrence of a Change in Control of the Company, the following provisions shall apply: 
 (i) The minimum Award payable to each Participant under Section 5 in respect of the fiscal year in which the Change in Control occurs shall be the greatest of: 

(A) the Award or other annual bonus paid or payable to the Participant in respect of the fiscal year prior to the year in
which the Change in Control occurs; 
 (B) the Award amount that would be payable to the Participant assuming
that the Company achieved the target level of the Performance Objectives for such fiscal year; and 
 (C) the
Award amount that would be payable to the Participant based on the Company’s actual performance and achievement of applicable Performance Objectives for such fiscal year through the date of the Change in Control. 

(ii) Notwithstanding anything to the contrary contained herein, in the event that following the date of a Change in Control and prior to
the payment date for Awards payable in respect of the fiscal year in which the Change in Control occurs a Participant’s employment is terminated by the Company and its subsidiaries without Cause or by the Participant for Good Reason, such
Participant shall be entitled to receive the Award otherwise payable pursuant to the terms of the Plan in respect of that fiscal year as if he or she had remained in the employ of the Company through the payment date for Awards payable in respect of
such fiscal year. 
 (iii) If a Participant’s employment is terminated by the Company and its subsidiaries without Cause
prior to the date of a Change in Control but the Participant reasonably demonstrates that the termination (A) was at the request of a third party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control
or (B) otherwise arose in connection with, or in anticipation of, a Change in Control which has been threatened or proposed, such termination shall be deemed to have occurred after a Change in Control for purposes of this Plan provided a Change
in Control shall actually have occurred. 

  
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 10. Adjustments. The Committee or the CEO, subject to the authority and discretion of
the Committee, may, at the time Performance Objectives are determined for a fiscal year, or at any time prior to the final determination of Awards in respect of such fiscal year, provide for the manner in which performance will be measured against
the Performance Objectives or may adjust the Performance Objectives (or the Company’s performance against said Performance Objectives) to reflect the impact of specified corporate transactions (such as a stock split or stock dividend), special
charges, accounting or tax law changes, and/or other extraordinary, nonrecurring, or special events or circumstances. 
 11.
Designation of Beneficiary. In the event of a Participant’s death prior to full payment of any Award hereunder, unless such Participant shall have designated a beneficiary or beneficiaries in accordance with this Section 11, payment
of any Award due under the Plan shall be made to the beneficiary or beneficiaries designated by the Participant under the Company’s basic life insurance program, or if no beneficiary has been designated under the basic life insurance program,
the Participant’s designated beneficiary dies prior to receiving any payment of an Award or if such designation shall for any reason be illegal or ineffective, Awards payable under the Plan shall be paid to the Participant’s estate. A
beneficiary designation under this Plan, or revocation of a prior beneficiary designation, will be effective only if it is made in writing on a form provided by the Company, signed by the Participant and received by the Benefits Department of the
Company. If a beneficiary has been designated under this Plan and such beneficiary dies prior to receiving any payment of an Award or if such designation shall for any reason be illegal or ineffective, Awards payable under the Plan shall be paid to
the Participant’s estate. 
 12. Amendment or Termination. The Board may amend or terminate the Plan at any time in
its discretion; provided, however, that no amendment or termination of the Plan may affect any Award made under the Plan prior to that time; and provided further, however, that the Plan may not be amended or terminated
through and including the fiscal year in which a Change in Control occurs (i) at the request of a third party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control or (ii) otherwise in connection
with, or in anticipation of, a Change in Control which has been threatened or proposed, in either case provided that a Change in Control shall actually have occurred. 
 13. Recoupment Policy Relating to Performance-Based Compensation; Other Agreements. Notwithstanding anything to the contrary contained herein, any Award made under the Plan is subject to the
Company’s (or an affiliate of the Company’s) right to reclaim, or require forfeiture of, such Award or payment or other amounts in connection with or settlement of such Award: 

 

	 	(i)	in the event of a financial restatement in accordance with the Company’s Recoupment Policy Relating to Performance-Based Compensation adopted by the Board, as
amended from time to time; or 

  

	 	(ii)	in accordance with the terms of any separate agreement, understanding, or arrangement between a Participant and the Company or any affiliate of the Company, including
but not limited to any employment agreement, offer letter for initial employment, promotional letter setting forth the terms of a Participant’s promotion, change in control agreement, and/or post-employment covenant agreement.

  
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 14. Section 409A of the U.S. Internal Revenue Code. The Plan is intended to be
exempt from the requirements of Section 409A of the Code and the Treasury Regulations promulgated thereunder, and the Plan shall be interpreted, administered and operated accordingly. Nothing in the Plan shall be construed as an entitlement to
or guarantee of any particular tax treatment to a Participant and none of the Company, its affiliates, the Board or the Committee shall have any liability with respect to any failure to comply with the requirements of Section 409A of the Code.

 15. Miscellaneous Provisions  
 (a) Neither the establishment of this Plan, nor any action taken hereunder, shall be construed as giving any Employee or any Participant any right to be retained in the employ of the Company or any of its
subsidiaries. 
 (b) A Participant’s rights and interests under the Plan may not be assigned or transferred, except as
provided in Section 10, and any attempted assignment or transfer shall be null and void and shall extinguish, in the Company’s sole discretion, the Company’s obligation under the Plan to pay Awards with respect to the Participant.

 (c) The Plan shall be unfunded. The Company shall not be required to establish any special or separate fund, or to make any
other segregation of assets, to assure payment of Awards. 
 (d) The Company shall have the right to deduct from Awards paid any
taxes or other amounts required by law to be withheld. 
 (e) Nothing contained in the Plan shall limit or affect in any manner
or degree the normal and usual powers of management, exercised by the officers and the Board or committees thereof, to change the duties or the character of employment of any employee of the Company or any of its subsidiaries or to remove the
individual from the employment of the Company or any of its subsidiaries at any time, all of which rights and powers are expressly reserved. 
 (f) This Plan shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. 

16. Definitions. 
 (a) “Award” shall mean the cash incentive award earned by a Participant under the Plan for any fiscal year and/or any discretionary bonus described in Section 6 hereof. 

(b) “Base Salary” shall mean the Participant’s annual base salary actually paid by the Company and/or any of its
subsidiaries and received by the Participant during the applicable fiscal year. Annual base salary does not include (i) Awards under the Plan, (ii) long-term incentive awards, (iii) signing bonuses or any similar bonuses,
(iv) imputed income from such programs as executive life insurance, or (v) nonrecurring earnings such as moving expenses, and is based on salary earnings before reductions for (I) such items as contributions under Sections 125 or
401(k) of the Code or to a registered retirement savings plan, or (II) any remuneration, award, grant, bonus or contribution made pursuant to any nonqualified deferred compensation plan or agreement or any retirement savings plans. 

(c) “Board” shall mean the Board of Directors of the Company. 

  
 - 5 -

 (d) “Cause” means: 

(i) in the case of a Participant whose employment with the Company or an affiliate thereof is subject to the terms of an employment or
change in control agreement between such Participant and the Company or affiliate, which employment or change in control agreement includes a definition of “Cause,” for purposes of termination, the term “Cause” as used in this
Plan shall have the meaning set forth in such employment or change in control agreement during the period that such employment or change in control agreement remains in effect following a Change in Control; and 

(ii) in all other cases, (a) intentional failure to perform reasonably assigned duties, (b) dishonesty or willful misconduct in
the performance of duties, (c) intentional violation of Company or applicable affiliate policy, (d) involvement in a transaction in connection with the performance of duties to the Company or any of its affiliates which transaction is
adverse to the interests of the Company or any of its affiliates and which is engaged in for personal profit, (e) willful violation of any law, rule or regulation in connection with the performance of duties (other than traffic violations or
similar offenses) or (f) any other act, event or circumstance which would constitute just cause at law for termination of the Participant’s employment. 
 (e) “CEO” shall mean the Chief Executive Officer of the Company. 

(f) “Change in Control” shall mean the occurrence during the term of the Plan of: 

(i) An acquisition (other than directly from the Company) of any common shares or other voting securities of the Company entitled to vote
generally for the election of directors (the “Voting Securities”) by any Person (as the term “person” is used for purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)), immediately after which such Person has “Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of thirty percent (30%) or more of the Company’s then outstanding
common shares or the combined voting power of the Company’s then outstanding Voting Securities; provided, however, in determining whether a Change in Control has occurred, common shares or Voting Securities which are acquired in a
“Non-Control Acquisition” (as hereinafter defined) shall not constitute an acquisition which would cause a Change in Control. A “Non-Control Acquisition” shall mean an acquisition by (A) an employee benefit plan (or a trust
forming a part thereof) maintained by (1) the Company or (2) any corporation or other Person of which a majority of its voting power or its voting equity securities or equity interest is owned, directly or indirectly, by the Company (for
purposes of this definition, a “Subsidiary”), (B) the Company or its Subsidiaries, or (C) any Person in connection with a “Non-Control Transaction” (as hereinafter defined); 

(ii) The individuals who, as of September 28, 2009, are members of the Board (the “Incumbent Board”), cease for any reason
to constitute at least seventy percent (70%) of the members of the Board; provided, however, that if the election, or nomination for election by the Company’s common shareholders, of any new director was approved by a vote of
at least two-thirds of the Incumbent Board, such new director shall, for purposes of this Plan, be considered as a member of the Incumbent Board; provided further, however, that no individual shall be considered a member of the
Incumbent Board if such individual initially assumed office as a result of an actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board (a “Proxy Contest”) including by reason of any
agreement intended to avoid or settle any Proxy Contest; or 

  
 - 6 -

 (iii) The consummation of: 

(A) A merger, consolidation, amalgamation or reorganization with or into the Company or in which securities of the
Company are issued (a “Merger”), unless such Merger is a “Non-Control Transaction.” A “Non-Control Transaction” shall mean a Merger where: 

(1) the shareholders of the Company immediately before such Merger own directly or indirectly immediately following such
Merger at least seventy percent (70%) of the combined voting power of the outstanding voting securities of the corporation resulting from such Merger (the “Surviving Corporation”) in substantially the same proportion as their
ownership of the Voting Securities immediately before such Merger; 
 (2) the individuals who were members of
the Incumbent Board immediately prior to the execution of the agreement providing for such Merger constitute at least two-thirds of the members of the board of directors of the Surviving Corporation, or a corporation beneficially directly or
indirectly owning a majority of the voting securities of the Surviving Corporation; and 
 (3) no Person other
than (i) the Company, (ii) any Subsidiary, (iii) any employee benefit plan (or any trust forming a part thereof) that immediately prior to such Merger was maintained by the Company or any Subsidiary, or (iv) any Person who,
immediately prior to such Merger had Beneficial Ownership of thirty percent (30%) or more of the Company’s then outstanding common shares or the combined voting power of the Company’s then outstanding Voting Securities, has Beneficial
Ownership of thirty percent (30%) or more of the then outstanding common shares of the Surviving Corporation or the combined voting power of the Surviving Corporation’s then outstanding voting securities. 

(B) A complete liquidation or dissolution of the Company; or 

(C) The sale or other disposition of all or substantially all of the assets of the Company to any Person (other than a
transfer to a Subsidiary). 
 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any
Person (the “Subject Person”) acquired Beneficial Ownership of more than the permitted amount of the then outstanding common shares or Voting Securities as a result of the acquisition of common shares or Voting Securities by the Company
which, by reducing the number of common shares or Voting Securities then outstanding, increases the proportional number of shares Beneficially Owned by the Subject Person, provided that if a Change in Control would occur (but for the operation of
this sentence) as a result of the acquisition of common shares or Voting Securities by the Company, and after such acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional common shares or Voting Securities which
increases the percentage of the then outstanding Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur. 

  
 - 7 -

 (g) “Code” shall mean the Internal Revenue Code of 1986, as amended.

 (h) “Committee” shall mean the Human Resource and Compensation Committee of the Board or such other
committee of the Board appointed by the Board from time to time to administer the Plan and to perform the functions set forth herein. 
 (i) “Employee” shall mean any employee of the Company or any of its affiliates, subsidiaries or parent organization. 

(j) “Executive Officer” shall mean an Employee designated as an “executive officer” by the Board from time to
time or any Employee that reports directly to the CEO. 
 (k) “Good Reason” shall mean the occurrence after a
Change in Control of any of the following events or conditions without the Participant’s express written consent: 
 (i) a
change in the Participant’s status, title, position or responsibilities (including reporting responsibilities) which, in the Participant’s reasonable judgment, does not represent a promotion from his or her status, title, position or
responsibilities as in effect immediately prior thereto; the assignment to the Participant of any duties or responsibilities which, in the Participant’s reasonable judgment, are inconsistent with such status, title, position or
responsibilities; or any removal of the Participant from or failure to reappoint or reelect him or her to any of such positions, except in connection with the termination of his or her employment for disability, for Cause, as a result of his or her
death or by the Participant other than for Good Reason; 
 (ii) a reduction by the Company in the Participant’s Base Salary
as in effect immediately prior to the Change in Control or as the same may be increased from time to time; 
 (iii) the
Company’s requiring the Participant to be based at any place outside a 50-kilometer radius from the Participant’s business office location immediately prior to the Change in Control, except for reasonably required travel on the
Company’s behalf, or on behalf of a subsidiary of the Company’s (or its successor’s) business (or the business of any successor to the Company as the controlling voting shareholder (whether direct or indirect) of the Company) which is
not materially greater than such travel requirements prior to the Change in Control; 
 (iv) the failure by the Company to
continue to provide the Participant with compensation and benefits substantially similar (in terms of benefit levels and/or reward opportunities) to those provided for under the Participant’s Employment Agreement, if applicable, and those
provided to him or her under any of the employee benefit plans in which the Participant becomes a participant, or the taking of any action by the Company which would directly or indirectly materially reduce any of such benefits or deprive the
Participant of any material fringe benefit enjoyed by him or her at the time of the Change in Control; 
 (v) any material
breach by the Company of any provision of the Participant’s Employment Agreement with the Company, if applicable; and 

(vi) the failure of the Company to notify the Participant within the 30-day period following any transfer of business and assets to any
other person by merger, consolidation, sale of assets or otherwise, that the Company has obtained a satisfactory agreement from a successor or assign of the Company to assume and agree to perform the Participant’s Employment Agreement with the
Company, if any. 

  
 - 8 -

 (l) “Operating Unit”, for any fiscal year, shall mean a division, Company
subsidiary, affiliate, group, product line or product line grouping for which an income statement reflecting sales and operating income is produced. 
 (m) “Participant”, for any fiscal year, shall mean an Employee selected by the CEO, subject to the authority and discretion of the Committee, to participate in the Plan for such fiscal
year. 
 (n) “Performance Objectives”, for any fiscal year, shall mean one or more financial performance
objectives of the Company and/or Operating Unit(s) and/or one or more performance objectives of individual Participant(s), established by the Committee in accordance with Section 4, which may include threshold Performance Objectives, target
Performance Objectives, maximum Performance Objectives, or other levels of achievement, depending on the nature and type of Performance Objective. Performance Objectives for the Company and/or Operating Unit(s) may be expressed in terms of earnings
per share, earnings (which may be expressed as earnings before specified items), return on assets, return on invested capital, revenue, operating income, cash flow, total shareholder return or any combination thereof. Performance Objectives for
individual Participant(s) may be expressed in terms of any financial or non-financial metric, target, goal or objective approved by the Committee or, subject to the authority and discretion of the Committee, the CEO, as applicable, for such
Participant(s). Performance Objectives may be expressed as a combination of Company and/or Operating Unit(s) and/or individual Participant Performance Objectives, and may be absolute or relative (to prior performance or to the performance of one or
more other entities or external indices) and may be expressed in terms of a progression within a specified range. 
 (o)
“Retirement” means (i) termination of employment after attaining age 60 with at least ten years of service (as defined in the Company’s qualified retirement plans) other than by (A) death; (B) disability;
(C) for cause; or (D) without cause termination by the Company, unless the Company mutually agrees that such without cause termination shall be considered a “Retirement;” provided, however, that for any Participant who has
reached the age of 55 and the completion of 10 years of continuous service with the Company and/or its subsidiaries as of November 5, 2008, the applicable age in (i) above shall be “55,” as opposed to age “60.” The
foregoing proviso shall expire by its terms and be void and of no further force and effect on and as of November 5, 2013. 

  
 - 9 -

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