Document:

Filed by sedaredgar.com - Keewatin Windpower Corp. - Exhibit 10.2

EXCHANGEABLE SHARE SUPPORT AGREEMENT 

THIS AGREEMENT dated for reference May 11, 2009. 

AMONG: 

  
    
      KEEWATIN WINDPOWER CORP., a corporation incorporated
        under the laws of the State of Nevada

      (“Parent”) 

    

  

AND 

  
    
      KEEWATIN WINDPOWER INC., a corporation incorporated
        under the laws of Saskatchewan 

      (“ExchangeCo”) 

    

  

WHEREAS: 

A.           Pursuant
to a share exchange agreement (the “Share Exchange Agreement”) dated for
reference May 11, 2009 by and among Parent, ExchangeCo, Sky Harvest Windpower
Corp. (the “Company”) and all of the shareholders of the Company,
ExchangeCo has agreed to issue exchangeable shares (the “Exchangeable
Shares”) to certain holders of common shares of the Company pursuant to the
terms of the Share Exchange Agreement; and 

B.          
Pursuant to the Share Exchange Agreement, Parent and ExchangeCo have agreed to
execute an exchangeable share support agreement substantially in the form of
this Agreement. 

THEREFORE in consideration of the respective covenants and
agreements provided in this Agreement and for other good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged),
the parties hereto covenant and agree as follows: 

ARTICLE 1 
DEFINITIONS AND INTERPRETATION

1.1     
Defined Terms 

                    Each
term denoted herein by initial capital letters and not otherwise defined herein
shall have the meaning ascribed thereto in the rights, privileges, restrictions
and conditions (collectively, the “Share Provisions”) attaching to the
Exchangeable Shares attached as Schedule O to the Share Exchange Agreement,
unless the context requires otherwise. 

1.2     
Interpretation Not Affected by Headings 

                    The
division of this Agreement into Articles, Sections and other portions and the
insertion of headings are for convenience of reference only and shall not affect
the construction or interpretation of this Agreement. Unless otherwise
indicated, all references to an “Article” or 

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“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 hereof and
include any agreement or instrument supplementary or ancillary hereto. 

1.3      Number,
Gender 

                    Words
importing the singular number only shall include the plural and vice versa.
Words importing any gender shall include all genders. 

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, such action shall be required to be taken on the next succeeding
Business Day. For the purposes of this agreement, a “Business Day” means any day
on which commercial banks are generally open for business in Vancouver, British
Columbia, other than a Saturday, a Sunday or a day observed as a holiday in
Vancouver, British Columbia under the laws of the Province of British Columbia
or the federal laws of Canada. 

ARTICLE 2 
COVENANTS OF PARENT AND
EXCHANGECO 

2.1      Covenants
Regarding Exchangeable Shares 

                    So
long as any Exchangeable Shares not owned by Parent or its Affiliates are
outstanding, Parent will: 

	 	(a) 	
      not declare or pay any dividends on the Parent Common
      Stock unless (i) ExchangeCo shall (w) simultaneously declare or pay, as
      the case may be, an equivalent dividend (as provided for in the Share
      Provisions and as determined by the Board of Directors of ExchangeCo as
      contemplated by Section 2.7(d) hereof) on the Exchangeable Shares (an
      “Equivalent Dividend”) and (x) have sufficient money or other
      assets or authorized but unissued securities available to enable the due
      declaration and the due and punctual payment, in accordance with
      applicable law, of any Equivalent Dividend, or (ii) ExchangeCo shall (y)
      subdivide the Exchangeable Shares in lieu of a stock dividend thereon (as
      provided for in the Share Provisions) (an “Equivalent Stock
      Subdivision”), and (z) have sufficient authorized but unissued
      securities available to enable the Equivalent Stock Subdivision;

	 	 	 
	 	(b) 	
      advise ExchangeCo sufficiently in advance of the
      declaration by Parent of any dividend on Parent Common Stock and take all
      such other actions as are reasonably necessary, in cooperation with
      ExchangeCo, to ensure that the respective declaration date, record date
      and payment date for a dividend on the Exchangeable Shares shall be the
      same as the declaration date, record date and payment date for the
      corresponding dividend on the Parent Common
Stock;

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	 	(c) 	
      ensure that the record date for any dividend declared on
      Parent Common Stock is not less than 10 Business Days after the
      declaration date of such dividend;

	 	 	 
	 	(d) 	
      take all such actions and do all such things as are
      reasonably necessary or desirable to enable and permit ExchangeCo, in
      accordance with applicable law, to pay and otherwise perform its
      obligations with respect to the satisfaction of the Liquidation Amount,
      the Retraction Price or the Redemption Price in respect of each issued and
      outstanding Exchangeable Share upon the liquidation, dissolution or
      winding-up of ExchangeCo, the delivery of a Retraction Request by a holder
      of Exchangeable Shares or a redemption of Exchangeable Shares by
      ExchangeCo, as the case may be, including without limitation all such
      actions and all such things as are necessary or desirable to enable and
      permit ExchangeCo to cause to be delivered Parent Common Stock to the
      holders of Exchangeable Shares in accordance with the provisions of
      Article 5, 6 or 7, as the case may be, of the Share Provisions;
  and

	 	 	 
	 	(e) 	
      take all such actions and do all such things as are
      reasonably necessary or desirable to enable and permit ExchangeCo, in
      accordance with applicable law, to perform its obligations arising upon
      the exercise by ExchangeCo of the Liquidation Call Right, the Retraction
      Call Right or the Redemption Call Right, including without limitation all
      such actions and all such things as are necessary or desirable to enable
      and permit ExchangeCo to cause to be delivered Parent Common Stock to the
      holders of Exchangeable Shares in accordance with the provisions of the
      Liquidation Call Right, the Retraction Call Right or the Redemption Call
      Right, as the case may be.

2.2      Segregation
of Funds 

                    Parent
will cause ExchangeCo to deposit a sufficient amount of funds in a separate
account of ExchangeCo and segregate a sufficient amount of such other assets and
property as is necessary to enable ExchangeCo to pay dividends when due and to
pay or otherwise satisfy its respective obligations under Article 5, 6 or 7 of
the Share Provisions, as applicable. 

2.3      Reservation
of Parent Common Stock 

                    Parent
hereby represents, warrants and covenants in favour of ExchangeCo that Parent
has reserved for issuance and will, at all times while any Exchangeable Shares
(other than Exchangeable Shares held by Parent or its Affiliates) are
outstanding, keep available, free from pre-emptive and other rights, out of its
authorized and unissued capital stock such number of Parent Common Stock (or
other shares or securities into which Parent Common Stock may be reclassified or
changed as contemplated by Section 2.7 hereof) (a) as is equal to the sum of (i)
the number of Exchangeable Shares issued and outstanding from time to time and
(ii) the number of Exchangeable Shares issuable upon the exercise of all rights
to acquire Exchangeable Shares outstanding from time to time and (b) as are now
and may hereafter be required to enable and permit Parent to meet its
obligations under the Voting and Exchange Trust Agreement and under any other
security or commitment pursuant to which Parent may now or hereafter be required
to 

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issue Parent Common Stock, to enable and permit ExchangeCo to
meet its obligations under each of the Liquidation Call Right, the Retraction
Call Right and the Redemption Call Right and its respective obligations
hereunder and under the Share Provisions. 

2.4     
Notification of Certain Events 

                    In
order to assist Parent to comply with its obligations hereunder and to permit
ExchangeCo to exercise the Liquidation Call Right, the Retraction Call Right and
the Redemption Call Right, ExchangeCo will notify Parent of each of the
following events at the time set forth below: 

	 	(a) 	
      in the event of any determination by the Board of
      Directors of ExchangeCo to institute voluntary liquidation, dissolution or
      winding-up proceedings with respect to ExchangeCo or to effect any other
      distribution of the assets of ExchangeCo among its shareholders for the
      purpose of winding up its affairs, at least 60 days prior to the proposed
      effective date of such liquidation, dissolution, winding-up or other
      distribution;

	 	 	 
	 	(b) 	
      promptly, upon the earlier of receipt by ExchangeCo of
      notice of and ExchangeCo otherwise becoming aware of any threatened or
      instituted claim, suit, petition or other proceedings with respect to the
      involuntary liquidation, dissolution or winding-up of ExchangeCo or to
      effect any other distribution of the assets of ExchangeCo among its
      shareholders for the purpose of winding up its affairs;

	 	 	 
	 	(c) 	
      immediately, upon receipt by ExchangeCo of a Retraction
      Request;

	 	 	 
	 	(d) 	
      on the same date on which notice of redemption is given
      to holders of Exchangeable Shares, upon the determination of a Redemption
      Date in accordance with the Share Provisions; and

	 	 	 
	 	(e) 	
      as soon as practicable upon the issuance by ExchangeCo of
      any Exchangeable Shares or rights to acquire Exchangeable Shares (other
      than the issuance of Exchangeable Shares and rights to acquire
      Exchangeable Shares in exchange for outstanding Common Shares of the
      Company pursuant to the Share Exchange Agreement).

2.5     
Delivery of Parent Common Stock to ExchangeCo 

                    In
furtherance of its obligations under Sections 2.1(d) and (e) hereof, upon notice
from ExchangeCo of any event that requires ExchangeCo to cause to be delivered
Parent Common Stock to any holder of Exchangeable Shares, Parent shall forthwith
issue and deliver or cause to be delivered to ExchangeCo the requisite number of
Parent Common Stock to be received by, and issued to or to the order of, the
former holder of the surrendered Exchangeable Shares, as ExchangeCo shall
direct. All such Parent Common Stock shall be duly authorized and validly issued
as fully paid and non-assessable and shall be free and clear of any lien, claim
or encumbrance. In consideration of the issuance and delivery of each such
Parent Common Share, 

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ExchangeCo shall issue to Parent, or as Parent shall direct,
common shares of ExchangeCo having equivalent value. 

2.6      Qualification
of Parent Common Stock 

                    Parent
will in good faith expeditiously take all such reasonable actions and do all
such reasonable things as are necessary or desirable to cause any Parent Common
Stock (or other shares or securities into which Parent Common Stock may be
reclassified or changed as contemplated by Section 2.7 hereof) to be issued and
delivered hereunder, to be listed, quoted or posted for trading on all stock
exchanges and quotation systems on which outstanding Parent Common Stock (or
such other shares or securities) have been listed by Parent and remain listed
and quoted or posted for trading. 

2.7      Economic
Equivalence 

	 	(a) 	
      Parent will not without prior approval of ExchangeCo and
      the prior approval of the holders of the Exchangeable Shares given in
      accordance with Section 10.2 of the Share Provisions:

	 	 	 	 
	 		(i) 	
      issue or distribute Parent Common Stock (or securities
      exchangeable for or convertible into or carrying rights to acquire Parent
      Common Stock) to the holders of all or substantially all of the then
      outstanding Parent Common Stock by way of stock dividend or other
      distribution, other than an issue of Parent Common Stock (or securities
      exchangeable for or convertible into or carrying rights to acquire Parent
      Common Stock) to holders of Parent Common Stock who exercise an option to
      receive dividends in Parent Common Stock (or securities exchangeable for
      or convertible into or carrying rights to acquire Parent Common Stock) in
      lieu of receiving cash dividends; or

	 	 	 	 
	 		(ii) 	
      issue or distribute rights, options or warrants to the
      holders of all or substantially all of the then outstanding Parent Common
      Stock entitling them to subscribe for or to purchase Parent Common Stock
      (or securities exchangeable for or convertible into or carrying rights to
      acquire Parent Common Stock); or

	 	 	 	 
	 		(iii) 	
      issue or distribute to the holders of all or
      substantially all of the then outstanding Parent Common Stock (A) shares
      or securities of Parent of any class other than Parent Common Stock (other
      than shares convertible into or exchangeable for or carrying rights to
      acquire Parent Common Stock), (B) rights, options or warrants other than
      those referred to in Section 2.7(a)(ii) above, (C) evidences of
      indebtedness of Parent or (D) assets of Parent, unless the economic
      equivalent (as determined by the Board of Directors of ExchangeCo as
      contemplated by Section 2.7(d) hereof) on a per share basis of such
      rights, options, securities, shares, evidences of indebtedness or other
      assets is issued or distributed simultaneously to holders of the
      Exchangeable Shares; provided that, for

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greater certainty, the above
restrictions shall not apply to any securities issued or distributed by Parent
in order to give effect to and to consummate the transactions contemplated by,
and in accordance with, the Share Exchange Agreement. 

	 	(b) 	
      Parent will not without the prior approval of ExchangeCo
      and the prior approval of the holders of the Exchangeable Shares given in
      accordance with Section 10.2 of the Share Provisions:

	 	 	 	 
	 		(i) 	
      subdivide, redivide or change the then outstanding Parent
      Common Stock into a greater number of Parent Common Stock; or

	 	 	 	 
	 		(ii) 	
      reduce, combine, consolidate or change the then
      outstanding Parent Common Stock into a lesser number of Parent Common
      Stock; or

	 	 	 	 
	 		(iii) 	
      reclassify or otherwise change Parent Common Stock or
      effect an amalgamation, merger, reorganization or other transaction
      affecting Parent Common Stock,

	 	 	 	 
	 		
      unless the same or an economically equivalent change (as
      determined by the Board of Directors of ExchangeCo as contemplated by
      Section 2.7(d) hereof) shall simultaneously be made to, or in the rights
      of the holders of, the Exchangeable Shares.

	 	 	 	 
	 	(c) 	
      Parent will ensure that the record date for any event
      referred to in Section 2.7(a) or 2.7(b) above, or (if no record date is
      applicable for such event) the effective date for any such event, is not
      less than five Business Days after the date on which such event is
      declared or announced by Parent (with contemporaneous notification thereof
      by Parent to ExchangeCo).

	 	 	 	 
	 	(d) 	
      The Board of Directors of ExchangeCo shall determine, in
      good faith and in its sole discretion, economic equivalence for the
      purposes of any event referred to in Section 2.7(a) or 2.7(b) hereof and
      each such determination shall be conclusive and binding on Parent. In
      making each such determination, the following factors shall, without
      excluding other factors determined by the Board of Directors of ExchangeCo
      to be relevant, be considered by the Board of Directors of
    ExchangeCo:

	 	 	 	 
	 		(i) 	
      in the case of any stock dividend or other distribution
      payable in Parent Common Stock, the number of such shares issued in
      proportion to the number of Parent Common Stock previously
    outstanding;

	 	 	 	 
	 		(ii) 	
      in the case of the issuance or distribution of any
      rights, options or warrants to subscribe for or purchase Parent Common
      Stock (or securities exercisable or exchangeable for or convertible into
      or carrying rights to acquire Parent Common Stock), the relationship
      between the exercise price of each such right, option or warrant and the
      current market value (as

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      determined by the Board of Directors of ExchangeCo in the
      manner above contemplated) of a Parent Common Share;

	 	 	 
	 	(iii) 	
      in the case of the issuance or distribution of any other
      form of property (including without limitation any shares or securities of
      Parent of any class other than Parent Common Stock, any rights, options or
      warrants other than those referred to in Section 2.7(d)(ii) above, any
      evidences of indebtedness of Parent or any assets of Parent), the
      relationship between the fair market value (as determined by the Board of
      Directors of ExchangeCo in the manner above contemplated) of such property
      to be issued or distributed with respect to each outstanding Parent Common
      Share and the current market value (as determined by the Board of
      Directors of ExchangeCo in the manner above contemplated) of a Parent
      Common Share;

	 	 	 
	 	(iv) 	
      in the case of any subdivision, redivision or change of
      the then outstanding Parent Common Stock into a greater number of Parent
      Common Stock or the reduction, combination, consolidation or change of the
      then outstanding Parent Common Stock into a lesser number of Parent Common
      Stock or any amalgamation, merger, reorganization or other transaction
      affecting Parent Common Stock, the effect thereof upon the then
      outstanding Parent Common Stock; and

	 	 	 
	 	(v) 	
      in all such cases, the general taxation consequences of
      the relevant event to holders of Exchangeable Shares to the extent that
      such consequences may differ from the taxation consequences to holders of
      Parent Common Stock as a result of differences between taxation laws of
      Canada and the United States (except for any differing consequences
      arising as a result of differing marginal taxation rates and without
      regard to the individual circumstances of holders of Exchangeable
      Shares).

	 		
      For purposes of the foregoing determinations, the current
      market value of any security listed and traded or quoted on a securities
      exchange shall be the weighted average of the daily trading prices of such
      security during a period of not less than 20 consecutive trading days
      ending not more than three trading days before the date of determination
      on the principal securities exchange on which such securities are listed
      and traded or quoted; provided, however, that if in the opinion of the
      Board of Directors of ExchangeCo the public distribution or trading
      activity of such securities during such period does not create a market
      which reflects the fair market value of such securities, then the current
      market value thereof shall be determined by the Board of Directors of
      ExchangeCo, in good faith and in its sole discretion, and provided further
      that any such determination by the Board of Directors of ExchangeCo shall
      be conclusive and binding on Parent.

	 	 	 
	 	(e) 	
      ExchangeCo agrees that, to the extent required, upon due
      notice from Parent, ExchangeCo will use its best efforts to take or cause
      to be taken such steps as may be necessary for the purposes of ensuring
      that appropriate dividends are paid or

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 other distributions are made by ExchangeCo, or subdivisions,
redivisions or changes are made to the Exchangeable Shares, in order to
implement the required economic equivalent with respect to the Parent Common
Stock and Exchangeable Shares as provided for in this Section 2.7. 

2.8      Tender
Offers 

                    In
the event that a tender offer, share exchange offer, issuer bid, take-over bid
or similar transaction for the purpose of acquiring the Parent Common Stock (an
“Offer”) is proposed by Parent or is proposed to Parent or its
shareholders and is recommended by the Board of Directors of Parent, or is
otherwise effected or to be effected with the consent or approval of the Board
of Directors of Parent, and the Exchangeable Shares are not redeemed by
ExchangeCo pursuant to the Redemption Call Right, Parent will use its reasonable
efforts expeditiously and in good faith to take all such actions and do all such
things as are necessary or desirable to enable and permit holders of
Exchangeable Shares to participate in such Offer to the same extent and on an
economically equivalent basis as the holders of Parent Common Stock, without
discrimination. Without limiting the generality of the foregoing, Parent will
use its reasonable efforts expeditiously and in good faith to ensure that
holders of Exchangeable Shares may participate in all such Offers without being
required to retract Exchangeable Shares as against ExchangeCo (or, if so
required, to ensure that any such retraction, shall be effective only upon, and
shall be conditional upon, the closing of the Offer and only to the extent
necessary to tender or deposit to the Offer). Nothing herein shall affect the
rights of ExchangeCo to redeem Exchangeable Shares, as applicable, in the event
of a Parent Control Transaction. 

2.9      Ownership
of Outstanding Shares 

                    Without
the prior approval of ExchangeCo and the prior approval of the holders of the
Exchangeable Shares given in accordance with Section 10.2 of the Share
Provisions, Parent covenants and agrees in favour of ExchangeCo that, as long as
any outstanding Exchangeable Shares are owned by any person or entity other than
Parent or any of its Affiliates, Parent will be and remain the direct or
indirect beneficial owner of all issued and outstanding voting shares in the
capital of ExchangeCo. 

2.10      Parent
and Affiliates Not to Vote Exchangeable Shares 

                    Parent
covenants and agrees that it will appoint and cause to be appointed proxyholders
with respect to all Exchangeable Shares held by it and its Affiliates for the
sole purpose of attending each meeting of holders of Exchangeable Shares in
order to be counted as part of the quorum for each such meeting. Parent further
covenants and agrees that it will not, and will cause its Affiliates not to,
exercise any voting rights which may be exercisable by holders of Exchangeable
Shares from time to time pursuant to the Share Provisions or pursuant to the
provisions of the Canada Business Corporations Act (or any successor or other
corporate statute by which ExchangeCo may in the future be governed) with
respect to any Exchangeable Shares held by it or by its Affiliates in respect of
any matter considered at any meeting of holders of Exchangeable Shares. 

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2.11      Rule
10b-18 Purchases 

                    For
certainty, nothing contained in this Agreement, including without limitation the
obligations of Parent contained in Section 2.8 hereof, shall limit the ability
of Parent or ExchangeCo to make a “Rule 10b-18 Purchase” of Parent Common Stock
pursuant to Rule 10b-18 of the U.S. Securities Exchange Act of 1934, as amended,
or any successor provisions thereof. 

ARTICLE 3 
PARENT SUCCESSORS 

3.1      Certain
Requirements in Respect of Combination, etc. 

                    Parent
shall not consummate any transaction (whether by way of reconstruction,
reorganization, consolidation, merger, transfer, sale, lease or otherwise)
whereby all or substantially all of its undertaking, property and assets would
become the property of any other person or, in the case of a merger, of the
continuing corporation resulting therefrom unless, but may do so if: 

	 	(a) 	
      such other person or continuing corporation (the
      “Parent Successor”) by operation of law, becomes, without more,
      bound by the terms and provisions of this Agreement or, if not so bound,
      executes, prior to or contemporaneously with the consummation of such
      transaction, an agreement supplemental hereto and such other instruments
      (if any) as are reasonably necessary or advisable to evidence the
      assumption by the Parent Successor of liability for all moneys payable and
      property deliverable hereunder and the covenant of such Parent Successor
      to pay and deliver or cause to be delivered the same and its agreement to
      observe and perform all the covenants and obligations of Parent under this
      Agreement; and

	 	 	 
	 	(b) 	
      such transaction shall be upon such terms and conditions
      as substantially to preserve and not to impair in any material respect any
      of the rights, duties, powers and authorities of the other parties
      hereunder.

3.2     
Vesting of Powers in Successor 

                    Whenever
the conditions of Section 3.1 have been duly observed and performed, the
parties, if required by Section 3.1, shall execute and deliver a supplemental
agreement hereto and thereupon Parent Successor shall possess and from time to
time may exercise each and every right and power of Parent under this Agreement
in the name of Parent or otherwise and any act or proceeding by any provision of
this Agreement required to be done or performed by the Board of Directors of
Parent or any officers of Parent may be done and performed with like force and
effect by the directors or officers of such Parent Successor. 

3.3      Wholly-Owned
Subsidiaries 

                    Nothing
herein shall be construed as preventing the amalgamation or merger of any
wholly-owned direct or indirect subsidiary of Parent with or into Parent or the
winding-up, 

- 10 - 

liquidation or dissolution of any wholly-owned subsidiary of
Parent provided that all of the assets of such subsidiary are transferred to
Parent or another wholly-owned direct or indirect subsidiary of Parent and any
such transactions are expressly permitted by this Article 3. 

ARTICLE 4 
GENERAL 

4.1      Term

                    This
Agreement shall come into force and be effective as of the date hereof and shall
terminate and be of no further force and effect at such time as no Exchangeable
Shares (or securities or rights convertible into or exchangeable for or carrying
rights to acquire Exchangeable Shares) are held by any person or entity other
than Parent and any of its Affiliates. 

4.2     
Changes In Capital of Parent and ExchangeCo 

                    At
all times after the occurrence of any event contemplated pursuant to Sections
2.7 and 2.8 hereof or otherwise, as a result of which either Parent Common Stock
or the Exchangeable Shares or both are in any way changed, this Agreement shall
forthwith be amended and modified as necessary in order that it shall apply with
full force and effect, mutatis mutandis, to all new securities into which Parent
Common Stock or the Exchangeable Shares or both are so changed and the parties
hereto shall execute and deliver an agreement in writing giving effect to and
evidencing such necessary amendments and modifications. 

4.3     
Severability 

                    If
any provision of this Agreement is held to be invalid, illegal or unenforceable,
the validity, legality or enforceability of the remainder of this Agreement
shall not in any way be affected or impaired thereby and this Agreement shall be
carried out as nearly as possible in accordance with its original terms and
conditions. 

4.4     
Amendments, Modifications 

                    This
Agreement may not be amended or modified except by an agreement in writing
executed by ExchangeCo and Parent and approved by the holders of the
Exchangeable Shares in accordance with Section 10.2 of the Share Provisions.

4.5      Ministerial
Amendments 

                    Notwithstanding
the provisions of Section 4.4, the parties to this Agreement may in writing at
any time and from time to time, without the approval of the holders of the
Exchangeable Shares, amend or modify this Agreement for the purposes of: 

	 	(a) 	
      adding to the covenants of any or all parties provided
      that the Board of Directors of each of ExchangeCo and Parent shall be of
      the good faith opinion that such additions will not be prejudicial to the
      rights or interests of the holders of the Exchangeable
  Shares;

- 11 - 

	 	(b) 	
      making such amendments or modifications not inconsistent
      with this Agreement as may be necessary or desirable with respect to
      matters or questions which, in the good faith opinion of the Board of
      Directors of each of ExchangeCo and Parent, it may be expedient to make,
      provided that each such Board of Directors shall be of the good faith
      opinion that such amendments or modifications will not be prejudicial to
      the rights or interests of the holders of the Exchangeable Shares;
    or

	 	 	 
	 	(c) 	
      making such changes or corrections which, on the advice
      of counsel to ExchangeCo and Parent, are required for the purpose of
      curing or correcting any ambiguity or defect or inconsistent provision or
      clerical omission or mistake or manifest error, provided that the Boards
      of Directors of each of ExchangeCo and Parent shall be of the good faith
      opinion that such changes or corrections will not be prejudicial to the
      rights or interests of the holders of the Exchangeable
  Shares.

4.6      Meeting
to Consider Amendments 

                    ExchangeCo,
at the request of Parent, shall call a meeting or meetings of the holders of the
Exchangeable Shares for the purpose of considering any proposed amendment or
modification requiring approval pursuant to Section 4.4 hereof. Any such meeting
or meetings shall be called and held in accordance with the bylaws of
ExchangeCo, the Share Provisions and all applicable laws. 

4.7      Amendments
Only in Writing 

                    No
amendment to or modification or waiver of any of the provisions of this
Agreement otherwise permitted hereunder shall be effective unless made in
writing and signed by all of the parties hereto. 

4.8      Enurement

                    This
Agreement shall be binding upon and enure to the benefit of the parties hereto
and their respective successors and assigns. 

4.9      Notices
to Parties 

                    All
notices and other communications required or permitted to be delivered to a
party under this Agreement shall be in writing and shall be deemed to have been
properly delivered, given or received (a) upon receipt when delivered by hand or
(b) two business days after being sent by registered mail or by courier or
express delivery service or by facsimile, provided that in each case the notice
or communication is sent to the address or facsimile telephone number set forth
beneath the name of such party below: 

	 	(a) 	
      If to Exchangeco:

	 	 	 
	 		
      Suite #617 – 666 Burrard Street, 
Vancouver, British
      Columbia, V6C 3P6

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      Attention: William Iny Facsimile: (604)
601-2070

	 	 	 
	 	(b) 	
      If to Parent:

	 	 	 
	 		
      Suite #617 – 666 Burrard Street, 
Vancouver, British
      Columbia, V6C 3P6

	 	 	 
	 		
      Attention:       Chris
      Craddock 
Facsimile:        (604)
      601-2070

With a copy (which will not constitute
notice) to: 

Clark Wilson LLP 
Barristers &
Solicitors 
Suite 800 – 885 West Georgia Street 
Vancouver, British
Columbia, Canada 
V6C 3H1 

Attention:       Bernard Pinsky

Telephone:     (604) 643-3153

Facsimile:        (604) 687-6314 

4.10      Counterparts

                    This
Agreement may be executed in counterparts, each of which shall be deemed an
original, and all of which taken together shall constitute one and the same
instrument. 

4.11     
Jurisdiction 

                    This
Agreement shall be construed and enforced in accordance with the laws of the
Province of British Columbia and the laws of Canada applicable therein. 

4.12      Fax
Delivery 

                    This
Agreement may be executed by delivery of executed signature pages by fax and
such fax execution will be effective for all purposes. 

4.13      Attornment

                    Parent
agrees that any action or proceeding arising out of or relating to this
Agreement may be instituted in the courts of British Columbia, waives any
objection which it may have now or hereafter to the venue of any such action or
proceeding, irrevocably submits to the jurisdiction of the said courts in any
such action or proceeding and hereby appoints ExchangeCo at its registered
office in the Province of British Columbia as attorney for service of process.

- 13 - 

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

KEEWATIN WINDPOWER CORP. 

	Per: 	/s/ Chris Craddock 	 
	Name: 	Chris Craddock 	 
	Title: 	President 	 

KEEWATIN WINDPOWER INC. 

	Per: 	/s/ Chris Craddock 	 
	Name: 	Chris Craddock 	 
	Title: 	PresidentFiled by sedaredgar.com - Keewatin Windpower Corp. - Exhibit 10.3

VOTING AND EXCHANGE TRUST AGREEMENT 

THIS AGREEMENT is dated for reference May 11, 2009. 

AMONG: 

  
    
      KEEWATIN WINDPOWER INC., a corporation existing
        under the laws of Saskatchewan (“ExchangeCo”) 

    

  

AND 

  
    
      KEEWATIN WINDPOWER CORP., a corporation existing
        under the laws of the State of Nevada (“Parent”) 

    

  

AND 

  
    
      VALIANT TRUST COMPANY, a trust company continued
        under the laws of Canada and registered to carry on business in the Province
        of British Columbia (“Trustee”) 

    

  

WHEREAS: 

A.      Pursuant to a share
exchange agreement (the “Share Exchange Agreement”) dated for reference
May 11, 2009 among Parent, ExchangeCo, Sky Harvest Windpower Corp. (the
“Company”) and the shareholders of the Company, ExchangeCo has agreed to
issue exchangeable shares (the “Exchangeable Shares”) to certain holders
of common shares of the Company pursuant to the acquisition of common shares of
the Company contemplated by the Share Exchange Agreement; and 

B.      Pursuant to the Share
Exchange Agreement, Parent and ExchangeCo have agreed to execute a voting and
exchange trust agreement substantially in the form of this Agreement; and 

THEREFORE in consideration of the respective covenants and
agreements provided in this Agreement and for other good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged),
the parties hereto covenant and agree as follows: 

ARTICLE 1 
DEFINITIONS AND INTERPRETATION 

1.1      Definitions

                         In
this Agreement, the following terms shall have the following meanings: 

                         “Affiliate”
of any Person means any other Person directly or indirectly controlling,
controlled by, or under common control with, that Person. For the purposes of
this definition, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), as applied to any Person,
means the possession by another Person, directly or indirectly, of the power to
direct or cause the direction of the management and policies of that first
mentioned Person, whether through the ownership of voting securities, by
contract or otherwise. 

                         “Assignee”
has the meaning ascribed to that term in Section 12.3.

- 2 - 

                         “Authorized
Person” has the meaning ascribed to that term in Section 6.16. 

                         
“Automatic Exchange Rights” means the benefit of the obligation of Parent
to effect the automatic exchange of Parent Common Shares for Exchangeable Shares
pursuant to Section 5.13. 

                         “Beneficiaries”
means the registered holders from time to time of Exchangeable Shares, other
than Parent and the Parent Affiliates. 

                         “Beneficiary
Votes” has the meaning ascribed to that term in Section 4.2. 

                         “Board
of Directors” means the Board of Directors of ExchangeCo or Parent, as the
case may be. 

                         “Business
Day” means any day on which commercial banks are generally open for business
in Vancouver, British Columbia, other than a Saturday, a Sunday or a day
observed as a holiday in Vancouver, British Columbia under the laws of the
Province of British Columbia or the federal laws of Canada. 

                         “Canadian
Dollar Equivalent” means, in respect of an amount expressed in a currency
other than Canadian dollars (the “Foreign Currency Amount”) at any date,
the product obtained by multiplying: (a) the Foreign Currency Amount, by (b) the
noon spot exchange rate on such date for such foreign currency expressed in
Canadian dollars as reported by the Bank of Canada or, in the event such spot
exchange rate is not available, such exchange rate on such date for such foreign
currency expressed in Canadian dollars as may be deemed by the Board of
Directors to be appropriate for such purpose. 

                         “Current
Market Price” means, in respect of a Parent Common Share on any date, the
Canadian Dollar Equivalent of the average of the closing prices of Parent Common
Shares during a period of 20 consecutive trading days ending not more than three
trading days before such date on the OTC Bulletin Board, or, if the Parent
Common Shares are not then quoted on the OTC Bulletin Board, on such other stock
exchange or automated quotation system on which the Parent Common Shares are
listed or quoted, as the case may be, as may be selected by the Board of
Directors of Parent for such purpose; provided, however, that if in the opinion
of the Board of Directors of Parent the public distribution or trading activity
of Parent Common Shares during such period does not create a market which
reflects the fair market value of a Parent Common Shares, then the Current
Market Price of a Parent Common Share shall be determined by the Board of
Directors of Parent, in good faith and in its sole discretion, and provided
further that any such selection, opinion or determination by the Board of
Directors of Parent shall be conclusive and binding. 

                         “Entity”
means any corporation (including any non-profit corporation), general
partnership, limited partnership, limited liability partnership, joint venture,
estate, trust, company (including any company limited by shares, limited
liability company or joint stock company), firm, society or other enterprise,
association, organization or entity. 

                         “Exchange
Right” has the meaning ascribed to that term in Section 5.1. 

                         “Exchangeable
Share” means a share in the class of non-voting exchangeable shares in the
capital of ExchangeCo having the rights, privileges, restrictions and conditions
set forth in the Exchangeable Share Provisions. 

- 3 - 

                         “Exchangeable
Share Provisions” means the rights, privileges, restrictions and conditions
attaching to the Exchangeable Shares as set forth in Schedule O of the Share
Exchange Agreement. 

                         “Exchangeable
Share Support Agreement” means the exchangeable share support agreement made
as of May 11, 2009 among ExchangeCo and Parent. 

                         “Governmental
Body” means any: (a) nation, state, commonwealth, province, territory,
county, municipality, district or other jurisdiction of any nature; (b) federal,
state, provincial, local, municipal, foreign or other government; or (c)
governmental or quasi-governmental authority of any nature (including any
governmental division, department, agency, commission, instrumentality,
official, ministry, fund, foundation, center, organization, unit, body or Entity
and any court or other tribunal). 

                         “Indemnified
Parties” has the meaning ascribed to that term in Section 8.1. 

                         “Insolvency
Event” means the institution by ExchangeCo of any proceeding to be
adjudicated a bankrupt or insolvent or to be wound up, or the consent of
ExchangeCo to the institution of bankruptcy, insolvency or winding-up
proceedings against ExchangeCo, or the filing of a petition, answer or consent
seeking dissolution or winding-up under any bankruptcy, insolvency or analogous
laws, including without limitation the Companies Creditors Arrangement
Act (Canada) and the Bankruptcy and Insolvency Act (Canada), and the
failure by ExchangeCo to contest in good faith any such proceedings commenced in
respect of ExchangeCo within 30 days of becoming aware thereof, or the consent
by ExchangeCo to the filing of any such petition or to the appointment of a
receiver, or the making by ExchangeCo of a general assignment for the benefit of
creditors, or the admission in writing by ExchangeCo of its inability to pay its
debts generally as they become due, or ExchangeCo not being permitted, pursuant
to solvency requirements of applicable law, to redeem any Retracted Shares
pursuant to Section 6.6 of the Exchangeable Share Provisions. 

                         “Liquidation
Call Right” has the meaning ascribed to that term in the Share Exchange
Agreement.

                         “Liquidation
Event” has the meaning ascribed to that term in Section 5.13(b) .

                         “Liquidation
Event Effective Date” has the meaning ascribed to that term in Section
5.13(c) .

                         “List”
has the meaning ascribed to that term in Section 4.6. 

                         “Officer’s
Certificate” means, with respect to Parent or ExchangeCo, as the case may
be, a certificate signed by any one of the authorized signatories of Parent or
ExchangeCo, as the case may be. 

                         “Parent
Affiliates” means Affiliates of Parent. 

                         “Parent
Common Share” means a share of common stock, par value U.S. $0.001 per
share, in the capital of Parent, and any other security into which such share
may be changed. 

                         “Parent
Consent” has the meaning ascribed to that term in Section 4.2.

                         “Parent
Meeting” has the meaning ascribed to that term in Section 4.2. 

- 4 - 

                         “Parent
Special Voting Share” means the one share of special voting stock of Parent,
par value U.S.$0.001, which entitles the holder of record of that share to a
number of votes at meetings of holders of Parent Common Shares equal to the
number of Exchangeable Shares outstanding from time to time (other than
Exchangeable Shares held by Parent and Parent Affiliates). 

                         “Parent
Successor” has the meaning ascribed to that term in Section 10.1. 

                         “Person”
means any individual, Entity or Governmental Body. 

                         “Redemption
Call Right” has the meaning ascribed to that term in the Share Exchange
Agreement.

                         “Retracted
Shares” has the meaning ascribed to that term in Section 5.7. 

                         “Retraction
Call Right” has the meaning ascribed to that term in the Exchangeable Share
Provisions.

                         “Share
Exchange Agreement” means the agreement dated for reference May 11, 2009
between Parent, ExchangeCo and the Company and certain shareholders of the
Company, as amended, supplemented and/or restated in accordance therewith,
providing for, among other things, the acquisition of common shares of the
Company. 

                         “Trust”
means the trust created by this Agreement. 

                         “Trust
Estate” means the Parent Special Voting Share, any other securities, the
Exchange Right, the Automatic Exchange Rights and any money or other property
which may be held by Trustee from time to time pursuant to this trust agreement.

                         “Trustee”
means Valiant Trust Company or such other trust company or other Entity that
Parent and the Company choose and, subject to the provisions of Article 9,
includes any successor trust company. 

                         “Voting
Rights” means the voting rights attached to the Parent Special Voting Share
as set forth in Article 4. 

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 an “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 hereof and include any agreement or instrument supplementary or
ancillary hereto. 

1.3     
Number, Gender, etc. 

                         Words
importing the singular number only shall include the plural and vice versa.
Words importing any gender shall include all genders. 

- 5 - 

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, such action shall be required to be taken on the next succeeding
Business Day. 

Article 2 
PURPOSE OF AGREEMENT 

2.1      Establishment
of Trust 

                         The
purpose of this Agreement is to create the Trust for the benefit of the
Beneficiaries, as herein provided. Trustee will hold the Parent Special Voting
Share in order to enable Trustee to execute the Voting Rights and will hold the
Exchange Right and the Automatic Exchange Rights in order to enable Trustee to
exercise such rights, in each case as Trustee for and on behalf of the
Beneficiaries as provided in this Agreement. 

Article 3 
PARENT SPECIAL VOTING SHARE 

3.1     
Issue and Ownership of the Parent Special Voting Share 

                         Parent
hereby issues to and deposits with Trustee, the Parent Special Voting Share to
be hereafter held of record by Trustee as Trustee for and on behalf of, and for
the use and benefit of, the Beneficiaries and in accordance with the provisions
of this Agreement. Parent hereby acknowledges receipt from Trustee as Trustee
for and on behalf of the Beneficiaries of good and valuable consideration (and
the adequacy thereof) for the issuance of the Parent Special Voting Share by
Parent to Trustee. During the term of the Trust and subject to the terms and
conditions of this Agreement, Trustee shall possess and be vested with full
legal ownership of the Parent Special Voting Share and shall be entitled to
exercise all of the rights and powers of an owner with respect to the Parent
Special Voting Share provided that Trustee shall: 

	 	(a) 	
      hold the Parent Special Voting Share and the legal title
      thereto as Trustee solely for the use and benefit of the Beneficiaries in
      accordance with the provisions of this Agreement; and

	 	 	 
	 	(b) 	
      except as specifically authorized by this Agreement, have
      no power or authority to sell, transfer, vote or otherwise deal in or with
      the Parent Special Voting Share and the Parent Special Voting Share shall
      not be used or disposed of by Trustee for any purpose other than the
      purposes for which this Trust is created pursuant to this
  Agreement.

3.2      Legended
Share Certificates 

                         ExchangeCo
will cause each certificate representing Exchangeable Shares to bear an
appropriate legend notifying the Beneficiaries of their right to instruct
Trustee with respect to the exercise of the Voting Rights in respect of the
Exchangeable Shares of the Beneficiaries. 

3.3      Safe
Keeping of Certificate 

                         The
certificate representing the Parent Special Voting Share shall at all times be
held in safe keeping by Trustee or its duly authorized agent. 

- 6 - 

Article 4 
EXERCISE OF VOTING RIGHTS 

4.1      Voting
Rights 

                         Trustee,
as the holder of record of the Parent Special Voting Share, shall be entitled to
vote in person or by proxy the Parent Special Voting Share on any matters,
questions, proposals or propositions whatsoever that may properly come before
the holders of Parent Common Shares at a Parent Meeting or in connection with a
Parent Consent. The Voting Rights shall be and remain vested in and exercised by
Trustee. Subject to Section 6.14: 

	 	(a) 	
      Trustee shall exercise the Voting Rights only on the
      basis of instructions received in accordance with this Article 4 from
      Beneficiaries entitled to instruct Trustee as to the voting thereof at the
      time at which the Parent Meeting is held or a Parent Consent is sought;
      and

	 	 	 
	 	(b) 	
      to the extent that no instructions are received from a
      Beneficiary with respect to the Voting Rights to which such Beneficiary is
      entitled, Trustee shall not exercise or permit the exercise of such Voting
      Rights.

4.2     
Number of Votes 

                         With
respect to all meetings of stockholders of Parent at which holders of Parent
Common Shares are entitled to vote (each, a “Parent Meeting”) and with
respect to all written consents sought by Parent from its stockholders including
the holders of Parent Common Shares (each, a “Parent Consent”), each
Beneficiary shall be entitled to instruct Trustee to cast and exercise one of
the votes comprised in the Voting Rights for each Exchangeable Share owned of
record by such Beneficiary on the record date established by Parent or by
applicable law for such Parent Meeting or Parent Consent, as the case may be
(the “Beneficiary Votes”), in respect of each matter, question, proposal
or proposition to be voted on at such Parent Meeting or in connection with such
Parent Consent. 

4.3      Mailings
to Stockholders 

                         With
respect to each Parent Meeting and Parent Consent, Trustee will mail or cause to
be mailed (or otherwise communicate in the same manner as Parent utilizes in
communications to holders of Parent Common Shares subject to Trustee being
advised in writing of that method and its ability to provide that method of
communication) to each of the Beneficiaries named in the List referred to in
Section 4.6, the following materials (such mailing or communication to commence
on the same day as the mailing (or other communication) is commenced by Parent
to its stockholders or, if later, promptly after receipt by Trustee of such
materials): 

	 	(a) 	
      a copy of the notice of such Parent Meeting or such
      Parent Consent, together with any related materials to be provided to
      stockholders of Parent;

	 	 	 
	 	(b) 	
      a statement that such Beneficiary is entitled to instruct
      Trustee as to the exercise of the Beneficiary Votes with respect to such
      Parent Meeting or Parent Consent or, pursuant to Section 4.7, to attend
      such Parent Meeting and to exercise personally the Beneficiary Votes
      thereat;

	 	 	 
	 	(c) 	
      a statement as to the manner in which such instructions
      may be given to Trustee, including an express indication that instructions
      may be given to Trustee to give:

- 7 - 

	 	(i) 	
      a proxy to such Beneficiary or his designee to exercise
      personally the Beneficiary Votes; or

	 	 	 
	 	(ii) 	
      a proxy to a designated agent or other representative of
      the management of Parent to exercise such Beneficiary
  Votes;

	 	(d) 	
      a statement that if no such instructions are received
      from the Beneficiary, the Beneficiary Votes to which such Beneficiary is
      entitled will not be exercised;

	 	 	 
	 	(e) 	
      a form of direction whereby the Beneficiary may instruct
      Trustee as to voting and otherwise as contemplated herein; and

	 	 	 
	 	(f) 	
      a statement of the time and date by which such
      instructions must be received by Trustee in order to be binding upon it,
      which, in the case of a Parent Meeting, shall be not later than the close
      of business on the second Business Day prior to such meeting, and of the
      method for revoking or amending such instructions.

                         For
the purpose of determining Beneficiary Votes to which a Beneficiary is entitled
in respect of any Parent Meeting or Parent Consent, the number of Exchangeable
Shares owned of record by the Beneficiary shall be determined at the close of
business on the record date established by Parent or by applicable law for
purposes of determining stockholders entitled to vote at such Parent Meeting or
sign such Parent Consent. Parent will notify Trustee of any decision of the
Board of Directors of Parent with respect to the calling of any Parent Meeting
or with respect to the seeking of any Parent Consent and shall provide all
necessary information and materials to Trustee in each case promptly and in any
event in sufficient time to enable Trustee to perform its obligations
contemplated by this Section 4.3. 

4.4     
Copies of Stockholder Information 

                         Parent
will deliver to Trustee copies of all proxy materials (including notices of
Parent Meetings but excluding proxies to vote Parent Common Shares), information
statements, reports (including without limitation, all interim and annual
financial statements) and other written communications that, in each case, are
to be distributed from time to time to holders of Parent Common Shares in
sufficient quantities and in sufficient time so as to enable Trustee to send
those materials to each Beneficiary at the same time as such materials are first
sent to holders of Parent Common Shares. Trustee will mail or otherwise send to
each Beneficiary, at the expense of Parent, copies of all such materials (and
all materials specifically directed to the Beneficiaries or to Trustee for the
benefit of the Beneficiaries by Parent) received by Trustee from Parent and will
use its best efforts to mail or otherwise send such materials contemporaneously
with the sending by Parent or its designee of such materials to holders of
Parent Common Shares. Trustee will also make available for inspection by any
Beneficiary at Trustee’s principal corporate trust office in the City of
Vancouver during the regular business hours of Trustee all proxy materials,
information statements, reports and other written communications that are: 

	 	(a) 	
      received by Trustee as the registered holder of the
      Parent Special Voting Share and made available by Parent generally to the
      holders of Parent Common Shares; or

	 	 	 
	 	(b) 	
      specifically directed to the Beneficiaries or to Trustee
      for the benefit of the Beneficiaries by
Parent.

- 8 - 

4.5      Other
Materials 

                         As
soon as reasonably practicable after receipt by Parent or stockholders of Parent
(if such receipt is known by Parent) of any material sent or given by or on
behalf of a third party to holders of Parent Common Shares generally, including
without limitation, dissident proxy and information circulars (and related
information and material) and tender and exchange offer circulars (and related
information and material), Parent shall use its reasonable efforts to obtain and
deliver to Trustee copies thereof in sufficient quantities so as to enable
Trustee to forward such material (unless the same has been provided directly to
Beneficiaries by such third party) to each Beneficiary as soon as possible
thereafter. As soon as reasonably practicable after receipt thereof, Trustee
will mail or otherwise send to each Beneficiary, at the expense of Parent,
copies of all such materials received by Trustee from Parent. Trustee will also
make available for inspection by any Beneficiary at Trustee’s principal
corporate trust office in the City of Vancouver during the regular business
hours of Trustee copies of all such materials. 

4.6      List
of Persons Entitled to Vote 

                         ExchangeCo
shall, (a) prior to each annual general and special Parent Meeting or the
seeking of any Parent Consent and (b) forthwith upon each request made at any
time by Trustee in writing, prepare or cause to be prepared a list (a
“List”) of the names and addresses of the Beneficiaries arranged in
alphabetical order (and, if requested, arranged by jurisdiction of residence)
and showing the number of Exchangeable Shares held of record by each such
Beneficiary, in each case at the close of business on the date specified by
Trustee in such request or, in the case of a List prepared in connection with a
Parent Meeting or a Parent Consent, at the close of business on the record date
established by Parent or pursuant to applicable law for determining the holders
of Parent Common Shares entitled to receive notice of and/or to vote at such
Parent Meeting or to give consent in connection with such Parent Consent. Each
such List shall be delivered to Trustee promptly after receipt by ExchangeCo of
such request or the record date for such meeting or seeking of consent, as the
case may be, and in any event within sufficient time to enable Trustee to
perform its obligations under this Agreement. Parent agrees to give ExchangeCo
notice (with a copy to Trustee) of the calling of any Parent Meeting or the
seeking of any Parent Consent, together with the record dates therefor,
sufficiently prior to the date of the calling of such meeting or seeking of such
consent so as to enable ExchangeCo to perform its obligations under this Section
4.6. 

4.7      Entitlement
to Direct Votes 

                         Any
Beneficiary named in a List prepared in connection with any Parent Meeting or
Parent Consent will be entitled (a) to instruct Trustee in the manner described
in Section 4.3 with respect to the exercise of the Beneficiary Votes to which
such Beneficiary is entitled or (b) to attend such meeting and personally
exercise thereat, as the proxy of Trustee, the Beneficiary Votes to which such
Beneficiary is entitled. 

4.8      Voting
by Trustee, and Attendance of Trustee Representative at Meeting 

	 	(a) 	
      In connection with each Parent Meeting and Parent
      Consent, Trustee shall exercise, either in person or by proxy, in
      accordance with the instructions received from a Beneficiary pursuant to
      Section 4.3, the Beneficiary Votes as to which such Beneficiary is
      entitled to direct the vote (or any lesser number thereof as may be set
      forth in the instructions); provided, however, that such written
      instructions are received by Trustee from the Beneficiary prior to the
      time and date fixed by Trustee for receipt of such instruction in the
      notice given by Trustee to the Beneficiary pursuant to Section
  4.3.

- 9 - 

	 	(b) 	
      Subject to the timely receipt of instructions as
      contemplated in Section 4.3(f), Trustee shall cause a representative who
      is empowered by it to sign and deliver, on behalf of Trustee, proxies for
      Voting Rights to attend each Parent Meeting. Upon submission by a
      Beneficiary (or its designee) of identification satisfactory to Trustee’s
      representative, and at the Beneficiary’s request, such representative
      shall sign and deliver to such Beneficiary (or its designee) a proxy to
      exercise personally the Beneficiary Votes as to which such Beneficiary is
      otherwise entitled hereunder to direct the vote, if such Beneficiary
      either (i) has not previously given Trustee instructions pursuant to
      Section 4.3 in respect of such meeting or (ii) submits to such
      representative written revocation of any such previous instructions. At
      such meeting, the Beneficiary exercising such Beneficiary Votes shall have
      the same rights as Trustee to speak at the meeting in favour of any
      matter, question, proposal or proposition, to vote by way of ballot at the
      meeting in respect of any matter, question, proposal or proposition, and
      to vote at such meeting by way of a show of hands in respect of any
      matter, question or proposition.

4.9     
Distribution of Written Materials 

                         Any
written materials distributed by Trustee pursuant to this Agreement shall be
sent by mail (or otherwise communicated in the same manner as Parent utilizes in
communications to holders of Parent Common Shares subject to Trustee being
advised in writing of that method of communication and its ability to provide
that method of communication) to each Beneficiary at its address as shown on the
books of ExchangeCo. ExchangeCo shall provide or cause to be provided to Trustee
for this purpose, on a timely basis and without charge or other expense: 

	 	(a) 	
      a current List; and

	 	 	 
	 	(b) 	
      upon the request of Trustee, mailing labels to enable
      Trustee to carry out its duties under this
Agreement.

4.10      Termination
of Voting Rights 

                         All
of the rights of a Beneficiary with respect to the Beneficiary Votes exercisable
in respect of the Exchangeable Shares held by such Beneficiary, including the
right to instruct Trustee as to the voting of or to vote personally such
Beneficiary Votes, shall be deemed to be surrendered by the Beneficiary to
Parent, and such Beneficiary Votes and the Voting Rights represented thereby
shall cease immediately upon the delivery by such holder to Trustee of the
certificates representing such Exchangeable Shares in connection with the
exercise by the Beneficiary of the Exchange Right or the occurrence of the
automatic exchange of Exchangeable Shares for Parent Common Shares, as specified
in Article 5 (unless, in either case, Parent shall not have delivered the
requisite Parent Common Shares issuable in exchange for the Exchangeable Shares
to Trustee for delivery to the Beneficiaries), or upon the redemption of
Exchangeable Shares pursuant to Article 6 or 7 of the Exchangeable Share
Provisions, or upon the effective date of the liquidation, dissolution or
winding-up of ExchangeCo pursuant to Article 5 of the Exchangeable Share
Provisions, or upon the purchase of Exchangeable Shares from the holder thereof
by ExchangeCo pursuant to the exercise by ExchangeCo of the Retraction Call
Right, the Redemption Call Right or the Liquidation Call Right. 

- 10 - 

Article 5 
EXCHANGE RIGHT AND AUTOMATIC EXCHANGE

5.1      Grant
and Ownership of the Exchange Right 

                         Parent
hereby grants to Trustee as Trustee for and on behalf of, and for the use and
benefit of, the Beneficiaries the right (the “Exchange Right”),
exercisable upon the occurrence and during the continuance of an Insolvency
Event, to require Parent to purchase from each or any Beneficiary all or any
part of the Exchangeable Shares held by the Beneficiary and the Automatic
Exchange Rights, all in accordance with the provisions of this Agreement. Parent
hereby acknowledges receipt from Trustee as Trustee for and on behalf of the
Beneficiaries of good and valuable consideration (and the adequacy thereof) for
the grant of the Exchange Right and the Automatic Exchange Rights by Parent to
Trustee. During the term of the Trust and subject to the terms and conditions of
this Agreement, Trustee shall possess and be vested with full legal ownership of
the Exchange Right and the Automatic Exchange Rights and shall be entitled to
exercise all of the rights and powers of an owner with respect to the Exchange
Right and the Automatic Exchange Rights, provided that Trustee shall: 

	 	(a) 	
      hold the Exchange Right and the Automatic Exchange Rights
      and the legal title thereto as Trustee solely for the use and benefit of
      the Beneficiaries in accordance with the provisions of this Agreement;
      and

	 	 	 
	 	(b) 	
      except as specifically authorized by this Agreement, have
      no power or authority to exercise or otherwise deal in or with the
      Exchange Right or the Automatic Exchange Rights, and Trustee shall not
      exercise any such rights for any purpose other than the purposes for which
      the Trust is created pursuant to this Agreement.

5.2     
Legended Share Certificates 

                         ExchangeCo
will cause each certificate representing Exchangeable Shares to bear an
appropriate legend notifying the Beneficiaries of: 

	 	(a) 	
      their right to instruct Trustee with respect to the
      exercise of the Exchange Right in respect of the Exchangeable Shares held
      by a Beneficiary;

	 	 	 
	 	(b) 	
      the Automatic Exchange Rights; and

	 	 	 
	 	(c) 	
      any additional rights or restrictions required under
      applicable laws.

5.3      General
Exercise of Exchange Right 

                         The
Exchange Right shall be and remain vested in and exercisable by Trustee. Subject
to Section 6.14, Trustee shall exercise the Exchange Right only on the basis of
instructions received pursuant to this Article 5 from Beneficiaries entitled to
instruct Trustee as to the exercise thereof. To the extent that no instructions
are received from a Beneficiary with respect to the Exchange Right, Trustee
shall not exercise or permit the exercise of the Exchange Right. 

- 11 - 

5.4     
Purchase Price 

                         The
purchase price payable by Parent for each Exchangeable Share to be purchased by
Parent under the Exchange Right shall be an amount per share equal to (a) the
Current Market Price of a Parent Common Share on the last Business Day prior to
the day of closing of the purchase and sale of such Exchangeable Share under the
Exchange Right, which shall be satisfied in full by Parent causing to be sent to
such holder one Parent Common Share; plus (b) to the extent not paid by
ExchangeCo, an additional amount equivalent to the full amount of all declared
and unpaid dividends on each such Exchangeable Share held by such holder on any
dividend record date which occurred prior to the closing of the purchase and
sale. In connection with each exercise of the Exchange Right, Parent shall
provide to Trustee an Officer’s Certificate setting forth the calculation of the
purchase price for each Exchangeable Share. The purchase price for each such
Exchangeable Share so purchased may be satisfied only by Parent issuing and
delivering or causing to be delivered to Trustee, on behalf of the relevant
Beneficiary, one Parent Common Share and on the applicable payment date a cheque
for the balance, if any, of the purchase price without interest (but less any
amounts withheld pursuant to Section 5.14) . 

5.5      Exercise
Instructions 

                         Subject
to the terms and conditions herein set forth, a Beneficiary shall be entitled,
upon the occurrence and during the continuance of an Insolvency Event, to
instruct Trustee to exercise the Exchange Right with respect to all or any part
of the Exchangeable Shares registered in the name of such Beneficiary on the
books of ExchangeCo. To cause the exercise of the Exchange Right by Trustee, the
Beneficiary shall deliver to Trustee, in person or by certified or registered
mail, at its principal corporate trust office in Vancouver, British Columbia or
at such other places in Canada as Trustee may from time to time designate by
written notice to the Beneficiaries, the certificates representing the
Exchangeable Shares which such Beneficiary desires Parent to purchase, duly
endorsed in blank for transfer, and accompanied by such other documents and
instruments as may be required to effect a transfer of Exchangeable Shares under
applicable laws and the constating documents of ExchangeCo and such additional
documents and instruments as Trustee, Parent or ExchangeCo may reasonably
require together with (a) a duly completed form of notice of exercise of the
Exchange Right, contained on the reverse of or attached to the Exchangeable
Share certificates, stating (i) that the Beneficiary thereby instructs Trustee
to exercise the Exchange Right so as to require Parent to purchase from the
Beneficiary the number of Exchangeable Shares specified therein, (ii) that such
Beneficiary has good title to and owns all such Exchangeable Shares to be
acquired by Parent free and clear of all liens, claims, security interests,
adverse claims and encumbrances, (iii) the names in which the certificates
representing Parent Common Shares issuable in connection with the exercise of
the Exchange Right are to be issued, and (iv) the names and addresses of the
Persons to whom such new certificates should be delivered; and (b) payment (or
evidence satisfactory to Trustee, ExchangeCo and Parent of payment) of the taxes
(if any) payable as contemplated by Section 5.8 of this Agreement. If only a
part of the Exchangeable Shares represented by any certificate or certificates
delivered to Trustee are to be purchased by Parent under the Exchange Right, a
new certificate for the balance of such Exchangeable Shares shall be issued to
the holder at the expense of ExchangeCo. 

5.6      Delivery
of Parent Common Shares; Effect of Exercise 

                         Promptly
after receipt of the certificates representing the Exchangeable Shares which the
Beneficiary desires Parent to purchase under the Exchange Right, together with
such documents and instruments of transfer and a duly completed form of notice
of exercise of the Exchange Right (and payment of taxes, if any, payable as
contemplated by Section 5.8 or evidence thereof), duly endorsed for transfer to
Parent, Trustee shall notify Parent and ExchangeCo of its receipt of the same,
which notice to Parent and ExchangeCo shall constitute exercise of the Exchange
Right by Trustee on behalf of the holder 

- 12 - 

of such Exchangeable Shares, and Parent shall promptly
thereafter deliver or cause to be delivered to Trustee, for delivery to the
Beneficiary of such Exchangeable Shares (or to such other Persons, if any,
properly designated by such Beneficiary) the number of Parent Common Shares
issuable in connection with the exercise of the Exchange Right, and on the
applicable payment date cheques for the balance, if any, of the total purchase
price therefor without interest (but less any amounts withheld pursuant to
Section 5.14; provided, however, that no such delivery shall be made unless and
until the Beneficiary requesting the same shall have paid (or provided evidence
satisfactory to Trustee, ExchangeCo and Parent of the payment of) the taxes (if
any) payable as contemplated by Section 5.8 of this Agreement. Immediately upon
the giving of notice by Trustee to Parent and ExchangeCo of the exercise of the
Exchange Right as provided in this Section 5.6, the closing of the transaction
of purchase and sale contemplated by the Exchange Right shall be deemed to have
occurred and the holder of such Exchangeable Shares shall be deemed to have
transferred to Parent all of such holder’s right, title and interest in and to
such Exchangeable Shares shall cease to be a holder of such Exchangeable Shares
and shall not be entitled to exercise any of the rights of a holder in respect
thereof, other than the right to receive his proportionate part of the total
purchase price for those Exchangeable Shares (together with a cheque for the
balance, if any, of the total purchase price therefor without interest (but less
any amounts withheld pursuant to Section 5.14), unless the requisite number of
Parent Common Shares is not allotted, issued and delivered by Parent to Trustee
within five Business Days of the date of the giving of such notice by Trustee
and cheque for the balance, if any, of the total purchase price for such
Exchangeable Shares is not issued and delivered to Trustee on the applicable
payment date, in which case the rights of the Beneficiary shall remain
unaffected until such Parent Common Shares are so allotted, issued and delivered
by Parent and any such cheque is issued and delivered by Parent. Upon delivery
by Parent to Trustee of such Parent Common Shares, Trustee shall deliver such
Parent Common Shares to such Beneficiary (or to such other Persons, if any,
properly designated by such Beneficiary). Concurrently with such Beneficiary
ceasing to be a holder of Exchangeable Shares, the Beneficiary shall be
considered and deemed for all purposes to be the holder of the Parent Common
Shares delivered to it pursuant to the Exchange Right. 

5.7     Exercise
of Exchange Right Subsequent to Retraction 

                         In
the event that a Beneficiary has exercised its right under Article 6 of the
Exchangeable Share Provisions to require ExchangeCo to redeem any or all of the
Exchangeable Shares held by the Beneficiary (the “Retracted Shares”) and
is notified by ExchangeCo pursuant to Section 6.6 of the Exchangeable Share
Provisions that ExchangeCo will not be permitted as a result of solvency
requirements of applicable law to redeem all such Retracted Shares, and provided
that ExchangeCo shall not have exercised the Retraction Call Right with respect
to the Retracted Shares and that the Beneficiary has not revoked the retraction
request delivered by the Beneficiary to ExchangeCo pursuant to Section 6.1 of
the Exchangeable Share Provisions, the retraction request will constitute and
will be deemed to constitute notice from the Beneficiary to Trustee instructing
Trustee to exercise the Exchange Right with respect to those Retracted Shares
that ExchangeCo is unable to redeem. In any such event, ExchangeCo hereby agrees
with Trustee and in favour of the Beneficiary to immediately notify Trustee of
the prohibition against ExchangeCo redeeming all of the Retracted Shares and to
promptly to forward or cause to be forwarded to Trustee all relevant materials
delivered by the Beneficiary to ExchangeCo or to the transfer agent of the
Exchangeable Shares (including without limitation, a copy of the retraction
request delivered pursuant to Section 6.1 of the Exchangeable Share Provisions)
in connection with such proposed redemption of the Retracted Shares and Trustee
will thereupon exercise the Exchange Right with respect to the Retracted Shares
that ExchangeCo is not permitted to redeem and will require Parent to purchase
such shares in accordance with the provisions of this Article 5. 

- 13 - 

5.8      Stamp
or Other Transfer Taxes 

                         Upon
any sale of Exchangeable Shares to Parent pursuant to the Exchange Right or the
Automatic Exchange Rights, the share certificate or certificates representing
Parent Common Shares to be delivered in connection with the payment of the total
purchase price therefor shall be issued in the name of the Beneficiary of the
Exchangeable Shares so sold or in such names as such Beneficiary may otherwise
direct in writing without charge to the holder of the Exchangeable Shares so
sold; provided, however, that such Beneficiary (a) shall pay (and none of
Parent, ExchangeCo or Trustee shall be required to pay) any documentary, stamp,
transfer or other taxes that may be payable in respect of any transfer involved
in the issuance or delivery of such shares to a Person other than such
Beneficiary or (b) shall have evidenced to the satisfaction of Trustee, Parent
and ExchangeCo that such taxes, if any, have been paid. 

5.9     
Notice of Insolvency Event 

                         As
soon as practicable following the occurrence of an Insolvency Event or any event
that with the giving of notice or the passage of time or both would be an
Insolvency Event, ExchangeCo and Parent shall give written notice thereof to
Trustee. As soon as practicable following the receipt of notice from ExchangeCo
and Parent of the occurrence of an Insolvency Event, or upon Trustee becoming
aware of an Insolvency Event, Trustee will mail to each Beneficiary, at the
expense of Parent, a notice of such Insolvency Event, in the form provided by
the Parent, which notice shall contain a brief statement of the rights of the
Beneficiaries with respect to the Exchange Right. 

5.10      Qualification
of Parent Common Shares 

                         Parent
will in good faith expeditiously take all such reasonable actions and do all
such reasonable things as are necessary or desirable to cause all Parent Common
Shares to be delivered pursuant to the Exchange Right or the Automatic Exchange
Rights to be listed, quoted or posted for trading on all stock exchanges and
quotation systems on which outstanding Parent Common Shares have been listed by
Parent and remain listed and are quoted or posted for trading at such time. 

5.11      Parent
Common Shares 

                         Parent
hereby represents, warrants and covenants that the Parent Common Shares issuable
as described herein will be duly authorized and validly issued as fully paid and
non-assessable and shall be free and clear of any lien, claim or encumbrance.

5.12      Prohibition
on Voluntary Liquidation 

                         Parent
covenants that it shall not take any action relating to a voluntary liquidation,
dissolution or winding-up of ExchangeCo or its successors, prior to the
Redemption Date (as defined in the Exchangeable Share Provisions) unless prior
to such liquidation, dissolution or winding-up Parent shall have taken such
actions to ensure that it is possible for holders of Exchangeable Shares to
extend through to the Redemption Date (subject to the continuing effect of other
provisions of this Agreement which may permit the redemption or other
termination of the Exchangeable Shares prior to the Redemption Date) the
deferral of any gain incurred by such holders that would otherwise have been
recognized at the closing of the transactions contemplated by the Share Exchange
Agreement. 

5.13      Automatic
Exchange on Liquidation of Parent 

	 	(a) 	
      Parent will give Trustee notice of each of the following
      events at the time set forth below:

- 14 - 

	 	(i) 	
      in the event of any determination by the Board of
      Directors of Parent to institute voluntary liquidation, dissolution or
      winding-up proceedings with respect to Parent or to effect any other
      distribution of assets of Parent among its shareholders for the purpose of
      winding up its affairs, at least 60 days prior to the proposed effective
      date of such liquidation, dissolution, winding-up or other distribution;
      and

	 	 	 
	 	(ii) 	
      as soon as practicable following the earlier of (A)
      receipt by Parent of notice of, and (B) Parent otherwise becoming aware
      of, any threatened or instituted claim, suit, petition or other
      proceedings with respect to the involuntary liquidation, dissolution or
      winding-up of Parent or to effect any other distribution of assets of
      Parent among its shareholders for the purpose of winding up its affairs,
      in each case where Parent has failed to contest in good faith any such
      proceeding commenced in respect of Parent within 30 days of becoming aware
      thereof.

	 	(b) 	
      As soon as practicable following receipt by Trustee from
      Parent of notice of any event (a “Liquidation Event”) contemplated
      by Section 5.13(a)(i) or 5.13(a)(ii) above, Trustee will give notice
      thereof to the Beneficiaries. Such notice shall include a brief
      description of the automatic exchange of Exchangeable Shares for Parent
      Common Shares provided for in Section 5.13(c).

	 	 	 
	 	(c) 	
      In order that the Beneficiaries will be able to
      participate on a pro rata basis with the holders of Parent Common Shares
      in the distribution of assets of Parent in connection with a Liquidation
      Event, on the fifth Business Day prior to the effective date (the
      “Liquidation Event Effective Date”) of a Liquidation Event all of
      the then outstanding Exchangeable Shares shall be automatically exchanged
      for Parent Common Shares. To effect such automatic exchange, Parent shall
      purchase on the fifth Business Day prior to the Liquidation Event
      Effective Date each Exchangeable Share then outstanding and held by
      Beneficiaries, and each Beneficiary shall sell the Exchangeable Shares
      held by it at such time, for a total purchase price per share equal to (a)
      the Current Market Price of a Parent Common Share on the fifth Business
      Day prior to the Liquidation Event Effective Date, which shall be
      satisfied in full by Parent issuing to the Beneficiary one Parent Common
      Share, and (b) to the extent not paid by ExchangeCo, an additional amount
      equivalent to the full amount of all declared and unpaid dividends on each
      such Exchangeable Share held by such holder on any dividend record date
      which occurred prior to the date of the exchange. In connection with such
      automatic exchange, Parent will provide to Trustee an Officer’s
      Certificate setting forth the calculation of the purchase price for each
      Exchangeable Share.

	 	 	 
	 	(d) 	
      On the fifth Business Day prior to the Liquidation Event
      Effective Date, the closing of the transaction of purchase and sale
      contemplated by the automatic exchange of Exchangeable Shares for Parent
      Common Shares shall be deemed to have occurred, and each Beneficiary shall
      be deemed to have transferred to Parent all of the Beneficiary’s right,
      title and interest in and to such Beneficiary’s Exchangeable Shares and
      the related interest in the Trust Estate and shall cease to be a holder of
      such Exchangeable Shares and Parent shall issue to the Beneficiary the
      Parent Common Shares issuable upon the automatic exchange of Exchangeable
      Shares for Parent Common Shares and on the applicable payment date shall
      deliver to Trustee for delivery to the Beneficiary a cheque for the
      balance, if any, of the total purchase price for such Exchangeable Shares
      without interest but less any amounts withheld pursuant to Section 5.14.
      Concurrently with such Beneficiary ceasing to be a holder of Exchangeable
      Shares, the Beneficiary shall be

- 15 - 

considered and deemed for all purposes to be the holder of the
Parent Common Shares issued pursuant to the automatic exchange of Exchangeable
Shares for Parent Common Shares and the certificates held by the Beneficiary
previously representing the Exchangeable Shares exchanged by the Beneficiary
with Parent pursuant to such automatic exchange shall thereafter be deemed to
represent Parent Common Shares issued to the Beneficiary by Parent pursuant to
such automatic exchange. Upon the request of a Beneficiary and the surrender by
the Beneficiary of Exchangeable Share certificates deemed to represent Parent
Common Shares, duly endorsed in blank and accompanied by such instruments of
transfer as Parent may reasonably require, Parent shall deliver or cause to be
delivered to the Beneficiary certificates representing Parent Common Shares of
which the Beneficiary is the holder. 

5.14     
Withholding Rights 

                         Parent,
ExchangeCo and Trustee shall be entitled to deduct and withhold from any
consideration otherwise payable under this Agreement to any holder of
Exchangeable Shares or Parent Common Shares such amounts as Parent, ExchangeCo
or Trustee is required or permitted to deduct and withhold with respect to such
payment under the Income Tax Act (Canada), the United States Internal
Revenue Code of 1986 or any provision of provincial, state, local or foreign
tax law, in each case as amended or succeeded. To the extent that amounts are so
withheld, such withheld amounts shall be treated for all purposes as having been
paid to the holder of the shares in respect of which such deduction and
withholding was made, provided that such withheld amounts are actually remitted
to the appropriate taxing authority. To the extent that the amount so required
or permitted to be deducted or withheld from any payment to a holder exceeds the
cash portion of the consideration otherwise payable to the holder, Parent,
ExchangeCo and Trustee are hereby authorized to sell or otherwise dispose of
such portion of the consideration as is necessary to provide sufficient funds to
Parent, ExchangeCo or Trustee, as the case may be, to enable it to comply with
such deduction or withholding requirement and Parent, ExchangeCo or Trustee
shall notify the holder thereof and remit to such holder any unapplied balance
of the net proceeds of such sale. Prior to making any distribution to holders of
Exchangeable Shares or Parent Common Shares, Parent or ExchangeCo, as the case
may be, shall ensure that Trustee has access to sufficient funds (by directly
providing, if necessary, such funds to Trustee) to enable Trustee to comply with
any applicable withholding taxes in connection with such consideration. In
carrying out its duties under this Section 5.14, Trustee may obtain the advice
of and assistance from such experts as Trustee may reasonably consider necessary
or advisable. If requested by Trustee, Parent shall retain such experts for
providing such advice or assistance to Trustee. 

Article 6 
CONCERNING THE TRUSTEE 

6.1     
Powers and Duties of the Trustee 

                         The
rights, powers, duties and authorities of Trustee under this Agreement, in its
capacity as Trustee of the Trust, shall include: 

	 	(a) 	
      receipt and deposit of the Parent Special Voting Share
      from Parent as Trustee for and on behalf of the Beneficiaries in
      accordance with the provisions of this Agreement;

	 	 	 
	 	(b) 	
      granting proxies and distributing materials to
      Beneficiaries as provided in this Agreement;

	 	 	 
	 	(c) 	
      voting the Beneficiary Votes in accordance with the
      provisions of this Agreement;

- 16 - 

	 	(d) 	
      receiving the grant of the Exchange Right and the
      Automatic Exchange Rights from Parent as Trustee for and on behalf of the
      Beneficiaries in accordance with the provisions of this
  Agreement;

	 	 	 
	 	(e) 	
      exercising the Exchange Right and enforcing the benefit
      of the Automatic Exchange Rights, in each case in accordance with the
      provisions of this Agreement, and in connection therewith receiving from
      Beneficiaries Exchangeable Shares and other requisite documents and
      distributing to such Beneficiaries Parent Common Shares and cheques, if
      any, to which such Beneficiaries are entitled upon the exercise of the
      Exchange Right or pursuant to the Automatic Exchange Rights, as the case
      may be;

	 	 	 
	 	(f) 	
      holding title to the Trust Estate;

	 	 	 
	 	(g) 	
      investing any moneys forming, from time to time, a part
      of the Trust Estate as provided in this trust agreement;

	 	 	 
	 	(h) 	
      taking action at the written direction of a Beneficiary
      or Beneficiaries to enforce the obligations of Parent and ExchangeCo under
      this Agreement; and

	 	 	 
	 	(i) 	
      taking such other actions and doing such other things as
      are specifically provided in this Agreement.

                         In
the exercise of such rights, powers, duties and authorities Trustee shall have
(and is granted) such incidental and additional rights, powers, duties and
authority not in conflict with any of the provisions of this Agreement as
Trustee, acting in good faith and in the reasonable exercise of its discretion,
may deem necessary, appropriate or desirable to effect the purpose of the Trust.
Any exercise of such discretionary rights, powers, duties and authorities by
Trustee shall be final, conclusive and binding upon all Persons. 

                         Trustee
in exercising its rights, powers, duties and authorities hereunder shall act
honestly and in good faith and with a view to the best interests of the
Beneficiaries and shall exercise the care, diligence and skill that a reasonably
prudent Trustee would exercise in comparable circumstances. 

                         The
duties and obligations of Trustee shall be determined by the provisions hereof
and by the provisions of applicable law and accordingly, Trustee shall only be
responsible for the performance of such duties and obligations as it has
undertaken herein or as required by applicable law. Where the provision of
documentation to Trustee is contemplated by this Agreement, Trustee shall retain
the right not to act and shall be held not to be liable for refusing to act
unless it has received such documentation in a clear and reasonable form that
complies with the terms of this Agreement. Such documentation must not require
the exercise of any discretion or independent judgment on the part of Trustee
except as provided herein. 

- 17 - 

6.2      No
Conflict of Interest 

                         Trustee
represents to Parent and ExchangeCo that at the date of execution and delivery
of this Agreement there exists no material conflict of interest in the role of
Trustee as a fiduciary hereunder and the role of Trustee in any other capacity.
Trustee shall, within 90 days after it becomes aware that such material conflict
of interest exists, either eliminate such material conflict of interest or
resign in the manner and with the effect specified in Article 9. If,
notwithstanding the foregoing provisions of this Section 6.2, Trustee has such a
material conflict of interest, the validity and enforceability of this Agreement
shall not be affected in any manner whatsoever by reason only of the existence
of such material conflict of interest. If Trustee contravenes the foregoing
provisions of this Section 6.2, any interested party may apply to the Supreme
Court of British Columbia for an order that Trustee be replaced as Trustee
hereunder. 

6.3      Dealings
with Transfer Agents, Registrars, etc. 

	 		
      Parent and ExchangeCo irrevocably authorize Trustee, from
      time to time, to:

	 	 	 
	 	(a) 	
      consult, communicate and otherwise deal with the
      respective registrars and transfer agents, and with any such subsequent
      registrar or transfer agent, of the Exchangeable Shares and Parent Common
      Shares; and

	 	 	 
	 	(b) 	
      requisition, from time to time, (i) from any such
      registrar or transfer agent any information readily available from the
      records maintained by it which Trustee may reasonably require for the
      discharge of its duties and responsibilities under this Agreement and (ii)
      from the transfer agent of Parent Common Shares, and any subsequent
      transfer agent of such shares, the share certificates issuable upon the
      exercise from time to time of the Exchange Right and pursuant to the
      Automatic Exchange Rights in the manner specified in Article 5
    hereof.

                         Parent
and ExchangeCo irrevocably authorize their respective registrars and transfer
agents to comply with all such requests. Parent covenants that it will supply
its transfer agent with duly executed share certificates for the purpose of
completing the exercise from time to time of the Exchange Right and the
Automatic Exchange Rights in each case pursuant to Article 5 hereof. 

6.4      Books
and Records 

                         Trustee
shall keep available for inspection by Parent and ExchangeCo at Trustee’s
principal corporate trust office in Vancouver, British Columbia correct and
complete books and records of account relating to the Trust created by this
Agreement, including without limitation, all relevant data relating to mailings
and instructions to and from Beneficiaries and all transactions pursuant to the
Exchange Right and the Automatic Exchange Rights. On or before January 31, 2009,
and on or before January 31 in every year thereafter, so long as the Parent
Special Voting Share is on deposit with Trustee, Trustee shall transmit to
Parent and ExchangeCo a brief report, dated as of the preceding December 31,
with respect to: 

	 	(a) 	
      the property and funds comprising the Trust Estate as of
      that date;

	 	 	 
	 	(b) 	
      the number of exercises of the Exchange Right, if any,
      and the aggregate number of Exchangeable Shares received by Trustee on
      behalf of Beneficiaries in consideration of the issuance by Parent of
      Parent Common Shares in connection with the Exchange Right, during the
      calendar year ended on such December 31; and

- 18 - 

	 	(c) 	
      any action taken by Trustee in the performance of its
      duties under this Agreement which it had not previously
  reported.

6.5     
Indemnification Prior to Certain Actions by Trustee 

                         Trustee
shall exercise any or all of the rights, duties, powers or authorities vested in
it by this Agreement at the request, order or direction of any Beneficiary upon
such Beneficiary furnishing to Trustee reasonable security, funding or
indemnity, satisfactory to Trustee, acting reasonably, against the costs,
expenses and liabilities which may be incurred by Trustee therein or thereby,
provided that no Beneficiary shall be obligated to furnish to Trustee any such
security, funding or indemnity in connection with the exercise by Trustee of any
of its rights, duties, powers and authorities with respect to the Parent Special
Voting Share pursuant to Article 4, subject to Section 6.14, and with respect to
the Exchange Right pursuant to Article 5, subject to Section 6.14, and with
respect to the Automatic Exchange Rights pursuant to Article 5, subject to
Section 6.14. 

                         None
of the provisions contained in this Agreement shall require Trustee to expend or
risk its own funds or otherwise incur financial liability in the exercise of any
of its rights, powers, duties, or authorities unless funded, given security or
indemnified as aforesaid. 

6.6     
Action of Beneficiaries 

                         No
Beneficiary shall have the right to institute any action, suit or proceeding or
to exercise any other remedy authorized by this Agreement for the purpose of
enforcing any of its rights or for the execution of any trust or power hereunder
unless the Beneficiary has requested Trustee to take or institute such action,
suit or proceeding and furnished Trustee with the security, funding or indemnity
referred to in Section 6.5 and Trustee shall have failed to act within a
reasonable time thereafter. In such case, but not otherwise, the Beneficiary
shall be entitled to take proceedings in any court of competent jurisdiction
such as Trustee might have taken; it being understood and intended that no one
or more Beneficiaries shall have any right in any manner whatsoever to affect,
disturb or prejudice the rights hereby created by any such action, or to enforce
any right hereunder or the Voting Rights, the Exchange Rights or the Automatic
Exchange Rights except subject to the conditions and in the manner herein
provided, and that all powers and trusts hereunder shall be exercised and all
proceedings at law shall be instituted, had and maintained by Trustee, except
only as herein provided, and in any event for the equal benefit of all
Beneficiaries. 

6.7     
Reliance Upon Declarations 

                         Trustee
shall not be considered to be in contravention of any its rights, powers, duties
and authorities hereunder if, when required, it acts and relies in good faith
upon statutory declarations, certificates, opinions, lists, mailing labels, or
reports or other papers or documents furnished pursuant to the provisions hereof
or required by Trustee to be furnished to it in the exercise of its rights,
powers, duties and authorities hereunder if such statutory declarations,
certificates, opinions, lists, mailing labels or reports or other papers or
documents comply with the provisions of Section 6.8, if applicable, and with any
other applicable provisions of this Agreement. 

6.8      Evidence
and Authority to the Trustee 

                         Parent
and/or ExchangeCo shall furnish to Trustee evidence of compliance with the
conditions provided for in this Agreement relating to any action or step
required or permitted to be taken by Parent and/or ExchangeCo or Trustee under
this Agreement or as a result of any obligation imposed under this Agreement,
including, without limitation, in respect of the Voting Rights or the Exchange

- 19 - 

Right or the Automatic Exchange Rights and the taking of any
other action to be taken by Trustee at the request of or on the application of
Parent and/or ExchangeCo promptly if and when: 

	 	(a) 	
      such evidence is required by any other section of this
      Agreement to be furnished to Trustee in accordance with the terms of this
      Section 6.8; or

	 	 	 
	 	(b) 	
      Trustee, in the exercise of its rights, powers, duties
      and authorities under this Agreement, gives Parent and/or ExchangeCo
      written notice requiring it to furnish such evidence in relation to any
      particular action or obligation specified in such
notice.

                         Such
evidence shall consist of an Officer’s Certificate of Parent and/or ExchangeCo
or a statutory declaration or a certificate made by Persons entitled to sign an
Officer’s Certificate stating that any such condition has been complied with in
accordance with the terms of this Agreement. 

                         Whenever
such evidence relates to a matter other than the Voting Rights or the Exchange
Right or the Automatic Exchange Rights or the taking of any other action to be
taken by Trustee at the request or on the application of Parent and/or
ExchangeCo, and except as otherwise specifically provided herein, such evidence
may consist of a report or opinion of any solicitor, attorney, auditor,
accountant, appraiser, valuer, engineer or other expert or any other Person
whose qualifications give authority to a statement made by him, provided that if
such report or opinion is furnished by a director, officer or employee of Parent
and/or ExchangeCo it shall be in the form of an Officer’s Certificate or a
statutory declaration. 

                         Each
statutory declaration, Officer’s Certificate, opinion or report furnished to
Trustee as evidence of compliance with a condition provided for in this
Agreement shall include a statement by the Person giving the evidence: 

	 	(a) 	
      declaring that he has read and understands the provisions
      of this Agreement relating to the condition in question;

	 	 	 
	 	(b) 	
      describing the nature and scope of the examination or
      investigation upon which he based the statutory declaration, certificate,
      statement or opinion; and

	 	 	 
	 	(c) 	
      declaring that he has made such examination or
      investigation as he believes is necessary to enable him to make the
      statements or give the opinions contained or expressed
  therein.

6.9      Experts,
Advisers and Agents 

	 		
      Trustee may:

	 	 	 
	 	(a) 	
      in relation to these presents act and rely on the opinion
      or advice of or information obtained from any solicitor, attorney,
      auditor, accountant, appraiser, valuer, engineer or other expert, whether
      retained by Trustee or by Parent and/or ExchangeCo or otherwise, and may
      employ such assistants as may be necessary to the proper discharge of its
      powers and duties and determination of its rights hereunder and may pay
      proper and reasonable compensation for all such legal and other advice or
      assistance as aforesaid; and

	 	 	 
	 	(b) 	
      employ such agents and other assistants as it may
      reasonably require for the proper determination and discharge of its
      powers and duties hereunder, and may pay reasonable remuneration for all
      services performed for it (and shall be entitled to receive
    reasonable

- 20 - 

 remuneration for all services performed by it) in the discharge
of the trusts hereof and compensation for all disbursements, costs and expenses
made or incurred by it in the discharge of its duties hereunder and in the
management of the Trust. 

6.10      Investment
of Moneys Held by the Trustee 

                         Unless
otherwise provided in this trust agreement, any moneys held by or on behalf of
Trustee which under the terms of this trust agreement may or ought to be
invested or which may be on deposit with Trustee or which may be in the hands of
Trustee may be invested and reinvested in the name or under the control of
Trustee in securities in which, under the laws of the Province of British
Columbia, trustees are authorized to invest trust moneys, provided that such
securities are stated to mature within two years after their purchase by
Trustee, and Trustee shall so invest such moneys on the written direction of
ExchangeCo. Pending the investment of any moneys as hereinbefore provided, such
moneys may be deposited in the name of Trustee in any chartered bank in Canada
or, with the consent of ExchangeCo, in the deposit department of Trustee or any
other loan or trust company authorized to accept deposits under the laws of
Canada or any province thereof at the rate of interest then current on similar
deposits. 

6.11      Trustee
Not Required to Give Security 

                         Trustee
shall not be required to give any bond or security in respect of the execution
of the trusts, rights, duties, powers and authorities of this Agreement or
otherwise in respect of the premises. 

6.12      Trustee
Not Bound to Act on Request 

                         Except
as in this Agreement otherwise specifically provided, Trustee shall not be bound
to act in accordance with any direction or request of Parent and/or ExchangeCo
or of the directors thereof until a duly authenticated copy of the instrument or
resolution containing such direction or request shall have been delivered to
Trustee, and Trustee shall be empowered to act upon any such copy purporting to
be authenticated and believed by Trustee to be genuine. 

6.13      Authority
to Carry on Business 

                         Trustee
represents to Parent and ExchangeCo that at the date of execution and delivery
by it of this Agreement it is authorized to carry on the business of a trust
company in each of the Provinces of Canada but if, notwithstanding the
provisions of this Section 6.13, it ceases to be so authorized to carry on
business, the validity and enforceability of this Agreement and the Voting
Rights, the Exchange Right and the Automatic Exchange Rights shall not be
affected in any manner whatsoever by reason only of such event but Trustee
shall, within 90 days after ceasing to be authorized to carry on the business of
a trust company in any Province of Canada, either become so authorized or resign
in the manner and with the effect specified in Article 9. 

6.14      Conflicting
Claims 

                         If
conflicting claims or demands are made or asserted with respect to any interest
of any Beneficiary in any Exchangeable Shares, including any disagreement
between the heirs, representatives, successors or assigns succeeding to all or
any part of the interest of any Beneficiary in any Exchangeable Shares,
resulting in conflicting claims or demands being made in connection with such
interest, then Trustee shall be entitled, at its sole discretion, to refuse to
recognize or to comply with any such claims or demands. In so refusing, Trustee
may elect not to exercise any Voting Rights, Exchange Rights or Automatic
Exchange Rights subject to such conflicting claims or demands and, in so doing,
Trustee shall not be or become liable to any Person on account of such election
or its failure or refusal to comply with 

- 21 - 

any such conflicting claims or demands. Trustee shall be
entitled to continue to refrain from acting and to refuse to act until: 

	 	(a) 	
      the rights of all adverse claimants with respect to the
      Voting Rights, Exchange Right or Automatic Exchange Rights subject to such
      conflicting claims or demands have been adjudicated by a final judgment of
      a court of competent jurisdiction and all rights of appeal have expired;
      or

	 	 	 
	 	(b) 	
      all differences with respect to the Voting Rights,
      Exchange Right or Automatic Exchange Rights subject to such conflicting
      claims or demands have been conclusively settled by a valid written
      agreement binding on all such adverse claimants, and Trustee shall have
      been furnished with an executed copy of such agreement certified to be in
      full force and effect.

                         If
Trustee elects to recognize any claim or comply with any demand made by any such
adverse claimant, it may in its discretion require such claimant to furnish such
surety bond or other security satisfactory to Trustee as it shall deem
appropriate to fully indemnify it as between all conflicting claims or demands.

6.15      Acceptance
of Trust 

                         Trustee
hereby accepts the Trust created and provided for by and in this Agreement and
agrees to perform the same upon the terms and conditions herein set forth and to
hold all rights, privileges and benefits conferred hereby and by law in trust
for the various Persons who shall from time to time be Beneficiaries, subject to
all the terms and conditions herein set forth. 

6.16      Incumbency
Certificate 

                         Each
of Parent and ExchangeCo shall file with Trustee a certificate of incumbency
setting forth the names of the individuals authorized to give instructions,
directions or other instruments to Trustee (each an “Authorized Person”),
together with specimen signatures of such persons, and Trustee shall be entitled
to rely on the latest certificate of incumbency filed with it unless it receives
notice, in accordance with Section 13.3 of this Agreement, of a change in the
Authorized Persons with updated specimen signatures. 

Article 7 
COMPENSATION 

7.1      Fees
and Expenses of Trustee 

                         Parent
and ExchangeCo jointly and severally agree to pay Trustee reasonable
compensation for all of the services rendered by it under this Agreement and
will reimburse Trustee for all reasonable expenses (including taxes other than
taxes based on the net income of Trustee) and disbursements (including
reasonable travel expenses incurred by Trustee in connection with its duties
hereunder and reasonable compensation and reasonable remuneration paid by
Trustee in connection with the retainer or employment of experts, advisors and
agents under Sections 5.14 and 6.9), including the cost and expense of any suit
or litigation of any character and any proceedings before any governmental
agency reasonably incurred by Trustee in connection with its duties under this
Agreement; provided that Parent and ExchangeCo shall have no obligation to
reimburse Trustee for any expenses or disbursements paid, incurred or suffered
by Trustee in any suit or litigation in which Trustee is determined to have
acted in bad faith or with negligence, recklessness or wilful misconduct.
Invoices for services rendered by 

- 22 - 

Trustee hereunder shall be provided to Parent, on behalf of
Parent and ExchangeCo, at the address of the Parent set forth in Section 13.3 of
this Agreement. Any amount owing or unpaid after 30 days from the invoice date
will bear interest at a rate per annum, from the expiration of such 30 day
period, equal to the then current rate charged by Trustee and shall be payable
on demand. The obligation of Parent and ExchangeCo under this Section 7.1 shall
survive the resignation or removal of Trustee. 

Article 8 
INDEMNIFICATION AND LIMITATION OF
LIABILITY 

8.1      Indemnification
of Trustee 

                         Parent
and ExchangeCo jointly and severally agree to indemnify and hold harmless
Trustee and each of its directors, officers and agents appointed and acting in
accordance with this Agreement (collectively, the “Indemnified Parties”)
against all claims, losses, damages, reasonable costs, penalties, fines and
reasonable expenses (including reasonable expenses of Trustee’s legal counsel)
which, without fraud, negligence, recklessness, wilful misconduct or bad faith
on the part of such Indemnified Party, may be paid, incurred or suffered by the
Indemnified Party by reason or as a result of Trustee’s acceptance or
administration of the Trust, its compliance with its duties set forth in this
Agreement, or any written or oral instruction delivered to Trustee by Parent or
ExchangeCo pursuant hereto. 

                         In
no case shall Parent or ExchangeCo be liable under this indemnity for any claim
against any of the Indemnified Parties unless Parent and ExchangeCo shall be
notified by Trustee of the written assertion of a claim or of any action
commenced against the Indemnified Parties, promptly after any of the Indemnified
Parties shall have received any such written assertion of a claim or shall have
been served with a summons or other first legal process giving information as to
the nature and basis of the claim. Subject to (ii) below, Parent and ExchangeCo
shall be entitled to participate at their own expense in the defence and, if
Parent and ExchangeCo so elect at any time after receipt of such notice, either
of them may assume the defence of any suit brought to enforce any such claim.
Trustee shall have the right to employ separate counsel in any such suit and
participate, in the defence thereof but the fees and expenses of such counsel
shall be at the expense of Trustee unless: (i) the employment of such counsel
has been authorized by Parent or ExchangeCo; or (ii) the named parties to any
such suit include both Trustee and Parent or ExchangeCo and Trustee shall have
been advised by counsel acceptable to Parent or ExchangeCo that there may be one
or more legal defences available to Trustee that are different from or in
addition to those available to Parent or ExchangeCo and that, in the judgment of
such counsel, would present a conflict of interest were a joint representation
to be undertaken (in which case Parent and ExchangeCo shall not have the right
to assume the defence of such suit on behalf of Trustee but shall be liable to
pay the reasonable fees and expenses of counsel for Trustee). 

                         For
certainty, the indemnity provided for in this Section 8.1 shall survive the
termination of the Agreement. 

8.2     
Limitation on Liability 

                         Trustee
shall not be held liable for any loss which may occur by reason of depreciation
of the value of any part of the Trust Estate or any loss incurred on any
investment of funds pursuant to this trust agreement, except to the extent that
such loss is attributable to the fraud, negligence, recklessness, wilful
misconduct or bad faith on the part of Trustee. 

- 23 - 

Article 9 
CHANGE OF TRUSTEE 

9.1      Resignation

                         Trustee,
or any Trustee hereafter appointed, may at any time resign by giving written
notice of such resignation to Parent and ExchangeCo specifying the date on which
it desires to resign, provided that such notice shall not be given less than one
month before such desired resignation date unless Parent and ExchangeCo
otherwise agree and provided further that such resignation shall not take effect
until the date of the appointment of a successor Trustee and the acceptance of
such appointment by the successor Trustee. Upon receiving such notice of
resignation, Parent and ExchangeCo shall promptly appoint a successor Trustee by
written instrument in duplicate, one copy of which shall be delivered to the
resigning Trustee and one copy to the successor Trustee. Failing acceptance by a
successor Trustee of such appointment, a successor Trustee may be appointed by
an order of a court of competent jurisdiction upon application of one or more of
the parties hereto, at the expense of Parent and ExchangeCo. 

9.2     
Removal 

                         Trustee,
or any Trustee hereafter appointed, may (provided a successor Trustee is
appointed) be removed at any time on not less than 30 days’ prior notice by
written instrument executed by Parent and ExchangeCo, in duplicate, one copy of
which shall be delivered to Trustee so removed and one copy to the successor
Trustee. 

9.3      Successor
Trustee 

                         Any
successor Trustee appointed as provided under this Agreement shall execute,
acknowledge and deliver to Parent and ExchangeCo and to its predecessor Trustee
an instrument accepting such appointment. Thereupon the resignation or removal
of the predecessor Trustee shall become effective and such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the
rights, powers, duties and obligations of its predecessor under this Agreement,
with the like effect as if originally named as Trustee in this Agreement.
However, on the written request of Parent and ExchangeCo or of the successor
Trustee, Trustee ceasing to act shall, upon payment of any amounts then due it
pursuant to the provisions of this Agreement, execute and deliver an instrument
transferring to such successor Trustee all the rights and powers of Trustee so
ceasing to act. Upon the request of any such successor Trustee, Parent,
ExchangeCo and such predecessor Trustee shall execute any and all instruments in
writing for more fully and certainly vesting in and confirming to such successor
Trustee all such rights and powers. 

9.4      Notice
of Successor Trustee 

                         Upon
acceptance of appointment by a successor Trustee as provided herein, Parent and
ExchangeCo shall cause to be mailed notice of the succession of such Trustee
hereunder to each Beneficiary specified in a List. If Parent or ExchangeCo shall
fail to cause such notice to be mailed within 10 days after acceptance of
appointment by the successor Trustee, the successor Trustee shall cause such
notice to be mailed at the expense of Parent and ExchangeCo. 

- 24 - 

Article 10 
PARENT SUCCESSORS 

10.1      Certain
Requirements in Respect of Combination, etc. 

                         Parent
shall not consummate any transaction (whether by way of reconstruction,
reorganization, consolidation, merger, transfer, sale, lease or otherwise)
whereby all or substantially all of its undertaking, property and assets would
become the property of any other Person or, in the case of a merger, of the
continuing corporation resulting therefrom unless, but may do so if such other
Person or continuing corporation (herein called the “Parent Successor”),
by operation of law, becomes, without more, bound by the terms and provisions of
this Agreement or, if not so bound, executes, prior to or contemporaneously with
the consummation of such transaction, a trust agreement supplemental hereto to
evidence the assumption by the Parent Successor of liability for all moneys
payable and property deliverable hereunder and the covenant of such Parent
Successor to pay and deliver or cause to be delivered the same and its agreement
to observe and perform all the covenants and obligations of Parent under this
Agreement. 

10.2      Vesting
of Powers in Successor 

                         Whenever
the conditions of Section 10.1 have been duly observed and performed, Trustee
and, if required by Section 10.1, Parent Successor and ExchangeCo shall execute
and deliver the supplemental trust agreement provided for in Article 11 and
thereupon Parent Successor shall possess and from time to time may exercise each
and every right and power of Parent under this Agreement in the name of Parent
or otherwise and any act or proceeding by any provision of this Agreement
required to be done or performed by the Board of Directors of Parent or any
officers of Parent may be done and performed with like force and effect by the
directors or officers of such Parent Successor. 

10.3      Wholly-Owned
Subsidiaries 

                         Nothing
herein shall be construed as preventing the amalgamation or merger of any
wholly-owned direct or indirect subsidiary of Parent with or into Parent or the
winding-up, liquidation or dissolution of any wholly-owned subsidiary of Parent
provided that all of the assets of such subsidiary are transferred to Parent or
another wholly-owned direct or indirect subsidiary of Parent and any such
transactions are expressly permitted by this Article 10. 

Article 11 
AMENDMENTS AND SUPPLEMENTAL TRUST
AGREEMENTS 

11.1      Amendments,
Modifications, etc. 

                         This
Agreement may not be amended or modified except by an agreement in writing
executed by Parent, ExchangeCo and Trustee and approved by the Beneficiaries in
accordance with Section 10.2 of the Exchangeable Share Provisions. 

11.2      Ministerial
Amendments 

                         Notwithstanding
the provisions of Section 11.1, the parties to this Agreement may in writing, at
any time and from time to time, without the approval of the Beneficiaries, amend
or modify this Agreement for the purposes of: 

- 25 - 

	 	(a) 	
      adding to the covenants of any or all parties hereto for
      the protection of the Beneficiaries hereunder provided that the Board of
      Directors of each of ExchangeCo and Parent shall be of the good faith
      opinion that such additions will not be prejudicial to the rights or
      interests of the Beneficiaries;

	 	 	 
	 	(b) 	
      making such amendments or modifications not inconsistent
      with this Agreement as may be necessary or desirable with respect to
      matters or questions which, in the good faith opinion of the Board of
      Directors of each of Parent and ExchangeCo and in the opinion of Trustee
      (which may, for this purpose, rely on the opinion of counsel), having in
      mind the best interests of the Beneficiaries, it may be expedient to make,
      provided that such Boards of Directors and Trustee shall be of the opinion
      that such amendments and modifications will not be prejudicial to the
      interests of the Beneficiaries; or

	 	 	 
	 	(c) 	
      making such changes or corrections which, on the advice
      of counsel to Parent, ExchangeCo and Trustee, are required for the purpose
      of curing or correcting any ambiguity or defect or inconsistent provision
      or clerical omission or mistake or manifest error, provided that in the
      opinion of Trustee (which may, for this purpose, rely on the opinion of
      counsel) and the Board of Directors of each of Parent and ExchangeCo such
      changes or corrections will not be prejudicial to the rights and interests
      of the Beneficiaries.

11.3      Meeting
to Consider Amendments 

                         ExchangeCo,
at the request of Parent, shall call a meeting or meetings of the Beneficiaries
for the purpose of considering any proposed amendment or modification requiring
approval pursuant hereto. Any such meeting or meetings shall be called and held
in accordance with the by-laws of ExchangeCo, the Exchangeable Share Provisions
and all applicable laws. 

11.4     
Changes in Capital of Parent and ExchangeCo 

                         At
all times after the occurrence of any event contemplated pursuant to Section 2.7
or 2.8 of the Exchangeable Share Support Agreement or otherwise, as a result of
which either Parent Common Shares or the Exchangeable Shares or both are in any
way changed, this Agreement shall forthwith be amended and modified as necessary
in order that it shall apply with full force and effect, mutatis mutandis, to
all new securities into which Parent Common Shares or the Exchangeable Shares or
both are so changed and the parties hereto shall execute and deliver a
supplemental trust agreement giving effect to and evidencing such necessary
amendments and modifications. 

11.5      Execution
of Supplemental Trust Agreements 

                         No
amendment to or modification or waiver of any of the provisions of this
Agreement otherwise permitted hereunder shall be effective unless made in
writing and signed by all of the parties hereto. From time to time ExchangeCo
(when authorized by a resolution of its Board of Directors), Parent (when
authorized by a resolution of its Board of Directors) and Trustee may, subject
to the provisions of these presents, and they shall, when so directed by these
presents, execute and deliver by their proper officers, trust agreements or
other instruments supplemental hereto, which thereafter shall form part hereof,
for any one or more of the following purposes: 

	 	(a) 	
      evidencing the succession of Parent Successors and the
      covenants of and obligations assumed by each such Parent Successor in
      accordance with the provisions of Article 10

- 26 - 

	 		
      and any successor Trustee in accordance with the
      provisions of Article 9 and Section 12.3;

	 	 	 
	 	(b) 	
      making any additions to, deletions from or alterations of
      the provisions of this Agreement or the Voting Rights, the Exchange Right
      or the Automatic Exchange Rights which, in the opinion of Trustee (which
      may, for this purpose, rely on the opinion of counsel), will not be
      prejudicial to the interests of the Beneficiaries or are, in the opinion
      of counsel to Trustee, necessary or advisable in order to incorporate,
      reflect or comply with any legislation the provisions of which apply to
      Parent, ExchangeCo, Trustee or this Agreement; and

	 	 	 
	 	(c) 	
      for any other purposes not inconsistent with the
      provisions of this Agreement, including without limitation, to make or
      evidence any amendment or modification to this Agreement as contemplated
      hereby, provided that, in the opinion of Trustee (which may, for this
      purpose, rely on the opinion of counsel), the rights of Trustee and
      Beneficiaries will not be prejudiced thereby.

Article 12 
TERMINATION AND ASSIGNMENT 

12.1      Term

                         The
Trust created by this Agreement shall continue until the earliest to occur of
the following events: 

	 	(a) 	
      no outstanding Exchangeable Shares are held by a
      Beneficiary (other than Parent and its Affiliates);

	 	 	 
	 	(b) 	
      each of Parent and ExchangeCo elects in writing to
      terminate the Trust and such termination is approved by the Beneficiaries
      in accordance with Section 10.2 of the Exchangeable Share Provisions;
      and

	 	 	 
	 	(c) 	
      21 years from the date of this
  Agreement.

12.2     
Survival of Agreement 

                         This
Agreement shall survive any termination of the Trust and shall continue until
there are no Exchangeable Shares outstanding held by a Beneficiary; provided,
however, that the provisions of Article 7 and Article 8 shall survive any such
termination of this Agreement. 

12.3      Assignment
by Trustee 

                         This
Agreement may not be assigned by Trustee without the prior written consent of
Parent and ExchangeCo, not to be unreasonably withheld; provided, however, that
this Agreement may be assigned by Trustee to an Affiliate (the
“Assignee”) if (a) the Assignee executes, acknowledges and delivers to
Parent and ExchangeCo a trust agreement of other instrument(s) supplemental
hereto as provided in Article 11 to evidence the appointment of it as successor
Trustee and the acceptance by it of such appointment and the assumption by it of
all the duties and obligations of the predecessor Trustee hereunder without
further amendment hereto, and (b) Parent and ExchangeCo are provided with a
certificate of a senior officer of the Assignee in form satisfactory to them,
acting reasonably, certifying that the Assignee is authorized to carry on the
business of a trust company in each of the Provinces of 

- 27 - 

Canada and is free of any material conflict of interest in its
role as fiduciary under this Agreement and in its role in any other capacity.

Article 13 
GENERAL 

13.1      Severability

                         If
any provision of this Agreement is held to be invalid, illegal or unenforceable,
the validity, legality or enforceability of the remainder of this Agreement
shall not in any way be affected or impaired thereby and the Agreement shall be
carried out as nearly as possible in accordance with its original terms and
conditions. 

13.2      Enurement

                         This
Agreement shall be binding upon and enure to the benefit of the parties hereto
and their respective successors and permitted assigns and to the benefit of the
Beneficiaries. 

13.3      Notices
to Parties 

                         All
notices and other communications required or permitted to be delivered to a
party under this Agreement shall be in writing and shall be deemed to have been
properly delivered, given or received upon receipt when delivered by hand or two
business days after being sent by registered mail or by courier or by express
delivery service or by facsimile, provided that in each case the notice or
communication is sent to the address or a facsimile telephone number set forth
beneath the name of such party below: 

	 	(a) 		if to ExchangeCo or Parent to:
  
	 	 	  	 
	 	 	  	Keewatin Windpower Corp. 
	 	 	  	Suite 617 
	 	 	  	666 Burrard Street 
	 	 	  	Vancouver, BC V6C 3P6 
	 	 	 	Attention:    President 
	 	 	  	Fax:               (604)
      601-2070 
	 	 	  	 
	 	(b) 		with copy (but not as notice) to:
    
	 	 	  	 
	 	 	  	Clark Wilson LLP 
	 	 	  	800 – 885 W. Georgia Street

	 	 	  	Vancouver, BC V6C 3H1 
	 	 	  	Attention:  
       Bernard Pinsky 
	 	 	  	Fax:               (604)
      687-6314 
	 	 	  	 
	 	(c) 		if to Trustee to: 
	 	 	  	 
	 	 	 	Valiant Trust
      Company 
	 	 	  	600 – 750 Cambie Street 
	 	 	  	Vancouver, BC V6B 0A2 
	 	 	  	Attention:   Manager, Client Services 
	 	 	  	Fax:             
       (604) 681-3067 

- 28 - 

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

13.4     
Notice to Beneficiaries 

                         Any
and all notices to be given and any documents to be sent to any Beneficiaries
may be given or sent to the address of such Beneficiary shown on the register of
holders of Exchangeable Shares in any manner permitted by the by-laws of
ExchangeCo from time to time in force in respect of notices to shareholders and
shall be deemed to be received (if given or sent in such manner) at the time
specified in such by-laws, the provisions of which by-laws shall apply mutatis
mutandis to notices or documents as aforesaid sent to such Beneficiaries. 

13.5      Risk
of Payments by Post 

                         Whenever
payments are to be made or documents are to be sent to any Beneficiary by
Trustee or Beneficiary to Trustee, the making of such payment or sending of such
document sent through the post shall be at risk of the Parent and ExchangeCo, in
the case of payments made or documents sent by Trustee, and at the risk of the
Beneficiary, in the case of payments made or documents sent by the Beneficiary.

13.6      Counterparts

                         This
Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which taken together shall constitute one and the same
instrument. 

13.7      Fax
execution 

                         This
Agreement may be executed by delivery of executed signature pages by fax and
such fax execution will be effective for all purposes. 

13.8      Jurisdiction

                         This
Agreement shall be construed and enforced in accordance with the laws of the
Province of British Columbia and the laws of Canada applicable therein. 

13.9      Attornment

                         Parent
agrees that any action or proceeding arising out of or relating to this
Agreement may be instituted in the courts of British Columbia, waives any
objection which it may have now or hereafter to the venue of any such action or
proceeding, irrevocably submits to the jurisdiction of the said courts in any
such action or proceeding, and hereby appoints ExchangeCo at its registered
office in the Province of British Columbia as Parent’s attorney for service of
process. 

- 29 - 

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

KEEWATIN WINDPOWER INC. 

	Per: 	/s/
      Chris Craddock 	 
	Name: 	Chris Craddock 	 
	Title: 	President 	 

KEEWATIN WINDPOWER CORP. 

	Per: 	/s/
      Chris Craddock 	 
	Name: 	Chris Craddock 	 
	Title: 	President 	 

VALIANT TRUST COMPANY

	Per: 	/s/
      Janet M. Brown 	 
	Name: 	Janet M. Brown 	 
	Title: 	Managing Director, Client Services 	 
	  	  	 
	  	  	 
	  	  	 
	Per: 	/s/
      Ramie Lousa 	 
	Name: 	Ramie Lousa 	 
	Title: 	Manager, Client Services

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