Document:

EX-10.2

 Exhibit 10.2 
 PARKER DRILLING COMPANY 
 RESTRICTED STOCK UNIT INCENTIVE AGREEMENT

 THIS RESTRICTED STOCK UNIT INCENTIVE AGREEMENT (this “Agreement”) is made and entered into by and
between Parker Drilling Company, a Delaware corporation (the “Company”), and Christopher T. Weber, an individual and future employee of the Company (“Grantee”), as of the 20th day of May, 2013 (the “Grant
Date”). The Restricted Stock Units granted to Grantee pursuant to this Agreement shall not be granted under the Parker Drilling Company 2010 Long-Term Incentive Plan, as Amended and Restated, as it may be further amended from time to time
thereafter (the “Plan”), but are subject to the terms and conditions of the Plan, except for Section 7.1 of the Plan. The Plan is hereby incorporated herein in its entirety by this reference and shall apply to this grant of
Restricted Stock Units as if such grant was granted pursuant to the terms of the Plan, except to the extent that this Agreement expressly provides to the contrary. Capitalized terms not otherwise defined in this Agreement shall have the meaning
given to such terms in the Plan. 
 WHEREAS, Grantee is being hired as Senior Vice President and Chief Financial Officer
of the Company, and in connection therewith, the Company desires to grant Restricted Stock Units to Grantee, subject to the terms and conditions of this Agreement and the Plan, with a view to increasing Grantee’s interest in the Company’s
success and growth; and 
 WHEREAS, the effectiveness of this grant of Restricted Stock Units is conditioned upon Grantee
beginning employment with the Company on or prior to May 20, 2013; and 
 WHEREAS, Grantee desires to be the
holder of Restricted Stock Units subject to the terms and conditions of this Agreement and the Plan; 
 NOW, THEREFORE,
in consideration of the premises, mutual covenants and agreements contained herein, and such other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound,
hereby agree as follows: 
 1. Grant of Restricted Stock Units. Subject to the terms and conditions of this Agreement and
the Plan, the Company hereby grants to Grantee a number of Restricted Stock Units equal to (i) $1,200,000 divided by (ii) the Fair Market Value of one share of the Company’s Common Stock (the “Units”). Subject
to Section 3 hereof, each Unit shall initially represent one share of the Company’s Common Stock (“Share”). Each Unit represents an unsecured promise of the Company to deliver one Share to the Grantee pursuant to
the terms and conditions of the Plan and this Agreement. As a holder of Units, the Grantee has the rights of a general unsecured creditor of the Company until the Units are converted to Shares upon vesting and transferred to Grantee, as set forth
herein. 
 2. Transfer Restrictions. Grantee shall not sell, assign, transfer, exchange, pledge, encumber, gift, devise,
hypothecate or otherwise dispose of (collectively, “Transfer”) any Units granted hereunder, except as provided under the Plan. Any purported Transfer of Units in breach of this Agreement shall be void and ineffective, and
shall not operate to Transfer any interest or title in the purported transferee. 

  
 1 

 3. Vesting of Units and Delivery of Shares. 

(a) Vesting Dates. Grantee shall vest in the Units granted hereunder in accordance with the following schedule: (i) 33
1/3% of the Units shall vest on May 19, 2014, (ii) 33 1/3% of the Units shall vest on May 19, 2015 and (iii) 33 1/3% of the Units shall vest on May 19, 2016 (each, a “Vesting Date”), provided that the
Grantee is still an Employee and has continuously been an Employee from the Grant Date through each Vesting Date, except as provided in Section 4 hereof. 
 (b) Settlement of Shares. Within sixty (60) days after any Units become vested, the Company shall deliver to Grantee the number of Shares for the vested Units and such Units shall
expire when exchanged for such Shares. The form of such delivery (e.g., a stock certificate or electronic entry evidencing such shares) shall be determined by the Company. In all cases, the delivery of shares under this Award is intended to
comply with Treasury Regulation 1.409A-1(b)(4) and shall be construed and administered in such a manner. All Shares delivered to or on behalf of Grantee in exchange for vested Units shall be subject to any further transfer or other restrictions as
may be required by securities law or other applicable law as determined by the Company. 
 (c) Dividends and
Splits. If the Company (i) declares a stock dividend or makes a distribution on its Shares, (ii) subdivides or reclassifies outstanding Shares into a greater number of Shares, or (iii) combines or reclassifies outstanding
Shares into a smaller number of Shares, then the number of Units granted under this Agreement shall be proportionately increased or reduced, as applicable, so as to prevent the enlargement or dilution of Grantee’s rights and duties hereunder.
The determination of the Committee regarding such adjustments shall be binding. 
 4. Termination of Employment. If
Grantee’s Employment is voluntarily or involuntarily terminated by the Company or Grantee, then Grantee shall immediately forfeit the outstanding Units that are not already vested as of such date, except as provided below in this
Section 4. Upon the forfeiture of any Units hereunder, the Grantee shall cease to have any rights in connection with such Units as of the date of forfeiture. 
 (a) Termination of Employment. Except as provided in Section 4(d), if the Grantee’s Employment is terminated for any reason other than due to death, disability, or
Involuntary Termination Without Cause (as defined below), any non-vested Units at the time of such termination shall automatically expire and terminate and no vesting shall occur after the termination of Employment date. In such event, the Grantee
will receive no payment for unvested Units. For purposes of this Agreement, “Involuntary Termination Without Cause” means the Employment of Grantee is involuntarily terminated by the Company (or by any successor to the Company) for
any reason including, without limitation, as the result of a Change in Control, except due to death, disability or Cause. In the event of a dispute regarding whether Employment was terminated voluntarily or involuntarily, or with or without Cause,
such dispute will be resolved by the Committee, in good faith, in the exercise of its discretion. 
 (b) Involuntary
Termination Without Cause. Except as provided in Section 4(d), in the event of the Grantee’s Involuntary Termination Without Cause, all of the restrictions and any other conditions for all Units scheduled to vest on the next
Vesting Date shall be fully satisfied 

  
 2 

 
on a pro rata basis, determined by multiplying the number of Units that would vest on the next Vesting Date by a fraction, the numerator of which is the number of months including any partial
months that have elapsed since (i) the previous Vesting Date or, (ii) if no Vesting Date has occurred, the Grant Date and the denominator of which is (i) 12 or, (ii) if no Vesting Date has occurred, 7. Any remaining unvested
Units shall be forfeited. 
 (c) Disability or Death. Upon termination of Grantee’s Employment as the result
of Grantee’s disability or death, then all of the outstanding Units shall become 100% vested and free of all restrictions on such date. 
 (d) Change in Control. If there is a Change in Control, then in the event of the Grantee’s Involuntary Termination Without Cause within two (2) years following the effective date
of the Change in Control, all the outstanding Units shall automatically become 100% vested and free of all restrictions on the Grantee’s termination of Employment date. 
 5. Detrimental Conduct. Notwithstanding any provision herein to the contrary, if the Grantee engaged in Detrimental Conduct (as defined below), with such Detrimental Conduct occurring either during
Employment or within two (2) years after Employment terminates for any reason, then, in such event, the following rules shall apply under this Agreement with respect to such Detrimental Conduct. In the event that the Committee should determine,
in its sole and absolute discretion, that, during Employment or within two (2) years following Employment termination, the Grantee engaged in Detrimental Conduct, the Committee may, in its sole and absolute discretion, if Shares have previously
been transferred to the Grantee under this Agreement, direct the Company to send a notice of recapture (a “Recapture Notice”) to such Grantee. Within ten (10) days after receiving a Recapture Notice from the Company, the
Grantee will deliver to the Company either (i) the actual number of Shares that were transferred to the Grantee upon vesting of Units or (ii) a cash equivalent payment in an amount equal to the Fair Market Value of such Shares at the time
when transferred to the Grantee, unless the Recapture Notice demands repayment of a lesser sum. All repayments hereunder shall be net of the taxes that were withheld by the Company when the Shares were originally transferred to Grantee following
vesting of the Incentive Award. For purpose of this Agreement, “Detrimental Conduct” shall mean Grantee (a) violated a confidentiality, non-solicitation, non-competition or similar restrictive covenant between the Company or
one of its Affiliates and Grantee, including violation of a Company policy relating to such matters, or (b) engaged in willful fraud that causes harm to the Company or one of its Affiliates, including, without limitation, any material breach of
fiduciary duty, embezzlement or similar conduct that results in a restatement of the Company’s financial statements. 

6. Grantee’s Representations. Notwithstanding any provision hereof to the contrary, the Grantee hereby agrees and represents
that Grantee will not acquire any Shares, and that the Company will not be obligated to issue any Shares to the Grantee hereunder, if the issuance of such Shares constitutes a violation by the Grantee or the Company of any law or regulation of any
governmental authority. Any determination in this regard that is made by the Committee, in good faith, shall be final and binding. The rights and obligations of the Company and the Grantee are subject to all applicable laws and regulations.

  
 3 

 7. Tax Withholding. To the extent that the receipt of Shares hereunder results in
compensation income to Grantee for federal, state or local income tax purposes, Grantee shall deliver to Company at such time the sum that the Company requires to meet its tax withholding obligations under applicable law or regulation, and, if
Grantee fails to do so, Company is authorized to (a) withhold from any cash or other remuneration (including any Shares), then or thereafter payable to Grantee, any tax required to be withheld; or (b) sell such number of Shares as is
appropriate to satisfy such tax withholding requirements before transferring the resulting net number of Shares to Grantee in satisfaction of its obligations under this Agreement. 

8. Independent Legal and Tax Advice. The Grantee acknowledges that (a) the Company is not providing any legal or tax advice to
Grantee and (b) the Company has advised the Grantee to obtain independent legal and tax advice regarding this Agreement and any payment hereunder. 
 9. No Rights in Shares. The Grantee shall have no rights as a stockholder in respect of any Shares, unless and until the Grantee becomes the record holder of such Shares on the Company’s
records. 
 10. Conflicts with Plan, Correction of Errors, and Grantee’s Consent. In the event that any provision of
this Agreement conflicts in any way with a provision of the Plan, such provisions shall be reconciled, or such discrepancy shall be resolved, by the Committee in the exercise of its discretion. In the event that, due to administrative error, this
Agreement does not accurately reflect the Units properly granted to the Grantee, the Committee reserves the right to cancel any erroneous document and, if appropriate, to replace the cancelled document with a corrected document. All determinations
and computations under this Agreement shall be made by the Committee (or its authorized delegate) in its discretion as exercised in good faith. 
 The award of Units is intended to comply with or be exempt from Section 409A of the Internal Revenue Code and any ambiguous provisions hereof shall be interpreted accordingly. Accordingly, Grantee
consents to such amendment of this Agreement as the Committee may reasonably make in furtherance of such intention, and the Company shall promptly provide, or make available, to Grantee a copy of any such amendment. 

11. Miscellaneous. 
 (a) No Fractional Shares. All provisions of this Agreement concern whole Shares. If the application of any provision hereunder would yield a fractional Share, such fractional Share shall be
rounded down to the next whole Share if it is less than 0.5 and rounded up to the next whole Share if it is 0.5 or more. 
 (b)
Transferability of Units. The Units are transferable only to the extent permitted in accordance with the Plan at the time of transfer (i) by will or by the laws of descent and distribution, or (ii) by a domestic relations
order in such form as is acceptable to the Company. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, obligations or torts of the Grantee or any permitted transferee thereof. 

  
 4 

 (c) Not an Employment Agreement. This Agreement is not an employment
agreement, and no provision of this Agreement shall be construed or interpreted to create any Employment relationship between Grantee and the Company for any time period. The Employment of Grantee with the Company shall be subject to termination to
the same extent as if this Agreement did not exist. 
 (d) Notices. Any notice, instruction, authorization, request
or demand required hereunder shall be in writing, and shall be delivered either by personal in-hand delivery, by telecopy or similar facsimile means, by certified or registered mail, return receipt requested, or by courier or delivery service,
addressed to the Company at its then current main corporate address, and to Grantee at the address indicated on the Company’s records, or at such other address and number as a party has last previously designated by written notice given to the
other party in the manner hereinabove set forth. Notices shall be deemed given when received, if sent by facsimile means (confirmation of such receipt by confirmed facsimile transmission being deemed receipt of communications sent by facsimile
means); and when delivered and receipted for (or upon the date of attempted delivery where delivery is refused), if hand-delivered, sent by courier or delivery service, or sent by certified or registered mail, return receipt requested. 

(e) Amendment, Termination and Waiver. This Agreement may be amended, modified, terminated or superseded only by written
instrument executed by or on behalf of the Grantee and the Company (by action of the Committee or its delegate). Any waiver of the terms or conditions hereof shall be made only by a written instrument executed and delivered by the party waiving
compliance. Any waiver granted by the Company shall be effective only if executed and delivered by a duly authorized executive officer of the Company other than Grantee. The failure of any party at any time or times to require performance of any
provisions hereof shall in no manner affect the right to enforce the same. No waiver by any party of any term or condition herein, or the breach thereof, in one or more instances shall be deemed to be, or construed as, a further or continuing waiver
of any such condition or breach or a waiver of any other condition or the breach of any other term or condition. 
 (f) No
Guarantee of Tax or Other Consequences. The Company makes no commitment or guarantee that any tax treatment will apply or be available to the Grantee or any other person. The Grantee has been advised, and provided with ample opportunity, to
obtain independent legal and tax advice regarding this Agreement. 
 (g) Governing Law and Severability. This
Agreement shall be governed by the laws of the State of Texas without regard to its conflicts of law provisions, except as preempted by controlling federal law. The invalidity of any provision of this Agreement shall not affect any other provision
hereof or of the Plan, which shall remain in full force and effect. 
 (h) Successors and Assigns. This Agreement
shall bind, be enforceable by, and inure to the benefit of, the Company and Grantee. 
 [Signature page follows.]

  
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 IN WITNESS WHEREOF, this Agreement is hereby approved and executed as of the date
first written above. 
  

			
	Parker Drilling Company
		
	By:	 	 

 
			
		
	Name:	 	 

 
			
		
	Title:	 	 

  

	
	Grantee
	
	 
	Signature
	
	Christopher T. Weber

  

	
	Grantee’s Address for Notices:
	
	 
	
	 
	
	 

  
 6EX-10.1

 Exhibit 10.1 
 Marc Caira 
 Hand-Delivered 
 Dear Mr. Caira: 
 Re: Offer of Employment as President and Chief Executive Officer

 We are pleased to offer you a permanent, full-time position with Tim Hortons Inc. (the “Company” or “THI”) as
President and Chief Executive Officer, reporting to our Board of Directors. 
 Scope of Employment 

As President and Chief Executive Officer, you shall undertake those duties, responsibilities and reporting requirements which are ordinarily expected of a
President and Chief Executive Officer of a publicly-listed company, as well as other services as are required from time to time by the Board. You shall perform these services principally from the Head Office of the Company in Oakville, Ontario,
although you acknowledge that the performance of these duties and functions may necessitate travel to other places throughout Canada, the United States and Internationally. 
 As President and Chief Executive Officer, you will have responsibility for managing the overall operations of the Company and its affiliates, subject to the oversight of the Board. It is also anticipated
that you will serve as a member of the Board of Directors concurrently with your service as President and Chief Executive Officer. Throughout the term of your employment, you agree to carry out the performance of your duties in compliance with the
governing documents of the Company, including all rules, policies and practices now or hereafter established and amended from time to time by the Company. 
 Employment Conditions 
 This offer is conditional upon satisfaction of each of the
following conditions: 
  

	 	•	 	 Approval by the Board of Directors of the Company of your appointment as President and Chief Executive Officer, and your compensation;

  

	 	•	 	 Execution of this Offer Letter and the attached Employment and Post-Employment Covenants Agreement (the “Covenants Agreement”) in forms
satisfactory to the Company; and 

  

	 	•	 	 Commencement of the provision of full-time employment services to the Company, in accordance with the terms of this Offer Letter and the Covenants
Agreement, on or prior to July 2, 2013. 

 Subject to the satisfaction of the foregoing conditions, your employment with the Company will commence on
July 2, 2013, and will be subject to the terms and conditions set forth in the table below. As a result of the Company’s recent reorganization and certain other factors, the Company’s compensation and benefits policies and programs
are currently being reviewed and may be substantially amended or revised. Accordingly, the compensation set forth below, including your entitlement to short- and long-term incentives and benefits, apply solely with respect to the 2013 fiscal year,
and may be amended, revised and/or cancelled beginning in the 2014 fiscal year. We currently expect that any amendments or revisions to our policies and programs may change the type of compensation offered, but we do not expect them to result in a
decrease in the quantum of your overall compensation. 
 All dollar amounts in this Offer Letter are in Canadian funds. In addition, we have
separately provided to you information on the Company’s Group Benefit package and pension plan. The signature below indicates that you have reviewed and read these materials. 

 

					
	 Provision
	  	 Employment Terms
	  	 Commentary

	Position	  	 •   President & Chief Executive Officer
	  	 •   Reports to the Board of Directors of the Company.

			
	Effective Date	  	 •   No later than July 2, 2013
	  	
			
	Term of Agreement	  	 •   Open-ended employment
	  	 •   No fixed term.

			
	Base Salary	  	 •   $910,000
	  	 •   Prorated to the portion of the fiscal year that you are employed by the
Company.
  

•   Base Salary shall be payable in accordance with Company practices and procedures, as they
may exist from time to time.
  

•   Base Salary will be reviewed by the Board on an annual basis, and any future adjustments
in Base Salary (if any) will be at the sole discretion of the Board.

			
	Target Annual Incentive (EAPP)	  	 •   $1,000,000 at target for 2013 (prorated to start date)
	  	 •   Awards under the EAPP are entirely discretionary on the part of the Company, and there is no guarantee of
an award in any particular year.

  
 Page 2.

					
	 Provision
	  	 Employment Terms
	  	 Commentary

		  		  	 •   Participation in the EAPP shall be subject to the Company’s
practices and procedures as they may exist from time to time including, without limitation, the attainment of performance objectives and other grant conditions.
  

•   2013 award shall be prorated to the portion of the fiscal year that you are employed by
the Company.
  

•   For the 2013 target, performance objectives shall be a mix of THI corporate EBIT (70%),
Canada BU EBIT (15%) and U.S. BU EBIT (15%).
  
 •   Weighting and design subject to change at Board’s discretion.

			
	Target Total Cash Compensation	  	 •   $1,910,000 (prorated to start date)
	  	 •   Actual compensation may vary depending upon the Company’s performance against EAPP
goals.

			
	Restricted Share Units (P+RSUs)	  	 •   $1,000,000 at target

•   Full 2013 grant in August at same vesting schedule as annual May 2013
grant.
	  	 •   Grant of awards under the Stock Incentive Plan is entirely
discretionary on the part of the Company, and there is no guarantee of an award or grant in any particular year.
  

•   Participation in the Stock Incentive Plan shall be subject to the Company’s
practices and procedures as they may exist from time to time including the attainment of performance objectives and other grant conditions.
  

•   P+RSU grant size varies based on previous year’s EBIT performance.

 
 •   Cliff vest in
November 2015.
  

•   Weighting and design subject to change at Board’s
discretion.

  
 Page 3.

					
	 Provision
	  	 Employment Terms
	  	 Commentary

	Stock Options/SARs	  	 •   $1,000,000

•   Full 2013 grant in August at same vesting schedule as annual May 2013
grant
	  	 •   Grant of awards under the Stock Incentive Plan is entirely
discretionary on the part of the Company, and there is no guarantee of an award or grant in any particular year.
  

•   Participation in the Stock Incentive Plan shall be subject to the Company’s
practices and procedures as they may exist from time to time including the attainment of performance objectives and other grant conditions.
  

•   Options/SARs vest annually over 3 years with a 7-year term.

 
 •   Weighting and design
subject to change at Board’s discretion.

			
	Welcome (Sign-On) Grant	  	 •   Welcome Grant of $500,000 of RSUs or Options/SARs, at your election; if
no preference, then split 50/50: $250,000 of Options/SARs and $250,000 of RSUs
  
 •   Grant to be made in August 2013
	  	 •   To be granted during the first trading window after employment
commences.
  

•   RSUs would cliff after 3 years.

 
 •   Options/SARs would
vest annually over 3 years with a 7-year term.

			
	Target Total Direct Compensation	  	 •   $4,410,000
	  	 •   Realized value may vary from target, based on performance.

			
	Company Car	  	 •   Approximately $20,000 per annum
	  	 •   Lease, gas, maintenance.

			
	Financial/Tax Counseling	  	 •   One-time allowance of $15,000
	  	
			
	Executive medical	  	 •   Approximately $2,000 per annum
	  	 •   Medcan Assessment.

			
	Pension	  	 •   Eligible to participate in existing THI executive pension plan arrangements (defined contribution and
savings plan)
	  	 •   The defined contribution plan includes compulsory employee
participation and employer contributions at levels determined by the Company.
  
 •   The Company regularly reviews these plans, and accordingly, reserves the right to, at any time, amend or terminate these
plans.

  
 Page 4.

					
	 Provision
	  	 Employment Terms
	  	 Commentary

	Life Insurance/Other Benefits	  	 •   Eligible to participate in the Company’s benefit plans, including medical, dental, vision, life and
long-term disability insurance, which are offered to other employees of the Company at the executive officer level.
	  	 •   The Company regularly reviews the benefit plans, as well as its insurance carriers, and accordingly,
reserves the right to amend or discontinue the benefit plans and change its insurance carriers where deemed appropriate.

			
	Vacation	  	 •   Entitled to 5 weeks’ vacation
	  	
			
	Relocation	  	 •   Maximum of $50,000
	  	
			
	Change of Control	  	 •   Change of control provisions as appropriate within existing plan documentation, plus benefits under a
Change in Control Agreement
	  	 •   Double trigger Change in Control Agreement.

 
 •   Severance, as a
result of termination following a change in control, is set forth in the Change in Control Agreement (two times total cash)

			
	Restrictive Covenants	  	 •   Confidentiality agreement

 
 •   Non-compete clause
– 1 year from notice of termination
  
 •   Non-solicitation clause – 2 years from notice of termination
  

•   Other covenants as set forth in the Covenants Agreement
	  	
			
	Policies	  	 •   Acknowledgement to comply with applicable Company plans and programs
	  	 •   Recoupment policy

 
 •   Share ownership
guidelines (5x base salary)
  

•   Insider trading policy

 
 •   Standards of
Business Practices
  

•   Governance Guidelines

 
 •   All other policies,
as applicable to directors and employees

  
 Page 5.

 Notwithstanding anything that may be construed to the contrary in the Company’s compensation, benefit
and pension plans, programs and policies (collectively, the “Plans”), if your employment with the Company terminates for a reason other than a termination with cause, that termination of employment shall be considered a
“Retirement” under each of the Plans, on the condition that you have been continuously employed by the Company, on a full-time basis, for a minimum period of three years prior to such termination. 

Corporate Plans and Policies 
 By
signing this Offer Letter, you acknowledge and agree that: 
  

	 	(a)	the Company has provided you with copies of all of the Company’s policies and programs relevant to your employment, including but not limited to those described in
the Company’s management information circular dated March 12, 2013 in the sections entitled “Corporate Governance Principles and Practices”, “Compensation Discussion and Analysis” and “Executive and Director
Compensation” (collectively, the “Company Policies”); 

  

	 	(b)	you have read and understood the Company Policies, and agree that your employment, as well as your entitlement to compensation, benefits and incentives, will be
governed by the Company Policies; 

  

	 	(c)	the Company may, from time to time, amend, alter, change or delete policies and programs including, without limitation, the Company Policies, to meet the business needs
of the enterprise and that, upon receiving notice of such policies or programs (or any amendments, alternations, changes or deletions thereof), your employment, as well as your entitlement to compensation, benefits and incentives, will be governed
by such revised policies and programs; and 

  

	 	(d)	as noted above, as a result of the Company’s recent reorganization and certain other factors, the Company’s policies and programs including, without
limitation, the Company Policies, are currently being reviewed and may be substantially amended or revised in the short- to long-term. Accordingly, your compensation including your entitlement to short- and long-term incentives and benefits, as set
forth in this Offer Letter, apply solely to the 2013 fiscal year, and may be amended or revised beginning in the 2014 fiscal year. 

 In addition, by signing this Offer Letter, you acknowledge and agree that: 
  

	 	(a)	as an officer of the Company, you will be held to equity ownership guidelines equal to five times your base salary, from time to time (i.e., at your initial annual base
salary, this would be $4,550,000), and you have until the end of 2017 to satisfy the guidelines; 

  
 Page 6.

	 	(b)	the Company’s Recoupment Policy Relating to Performance-Based Compensation is binding on you as a “Senior Executive” under such policy, and that all
performance-based compensation awarded to you in accordance with the terms and conditions of this Offer Letter or otherwise under any incentive, bonus or other plan of the Company or its affiliates are subject to the Recoupment Policy.

 Eligibility to Perform Services 
 By signing this Offer Letter, you represent, warrant and covenant that: 
  

	 	(a)	you are legally eligible to work in Canada and will continue to be legally eligible to work in Canada; 

 

	 	(b)	you are not bound by any agreement or subject to any legal obligations to any third party, including but not limited to any person with whom the Company may be in
competition, that would prohibit you from negotiating or accepting employment with the Company or would otherwise conflict with any of your obligations to the Company under this Offer Letter or the Covenants Agreement including but not limited to
any confidentiality, non-competition, non-solicitation or non-interference agreement with respect to any third party; and 

  

	 	(c)	the information provided by you, both verbally and on any resume, application form or questionnaire is complete and accurate in every respect. 

You acknowledge that the Company has relied upon the representations outlined above, and you agree to indemnify and hold the Company, its directors,
officers, employees, agents and/or consultants harmless against any and all claims, liabilities, losses, damages, costs, fees and/or expenses including reasonable legal fees incurred by the Company, its directors, officers, employees, agents and/or
consultants by reason of your violation of any of the representations set forth above. 
 Privacy Consent 

By accepting employment with the Company, you hereby consent to the Company and any affiliate collecting, using and disclosing your personal information
to establish, manage, terminate and/or otherwise to administer the employment relationship, including, but not limited to: 
  

	 	(a)	ensuring that you are properly remunerated for your services to the Company which may include disclosure to third party payroll providers; 

 

	 	(b)	administering and/or facilitating the provision of any benefits to which you are or may become entitled, including benefits coverage, registered retirement savings plan
and incentive plans; this shall include the disclosure of your personal information to the Company’s third party service providers and administrators; 

  
 Page 7.

	 	(c)	ensuring that the Company is able to comply with any regulatory, reporting and withholding requirements relating to your employment; 

 

	 	(d)	performance and promotion; 

  

	 	(e)	monitoring your access to and use of the Company’s electronic media services in order to ensure that the use of such services is in compliance with the
Company’s policies and procedures and is not in violation of any applicable laws; 

  

	 	(f)	complying with the Company’s obligations to report improper or illegal conduct by any director, officer, executive or agent of the Company under any applicable
securities, criminal or other law; 

  

	 	(g)	acquiring, selling or transferring any or all of the Company’s business; and 

 

	 	(h)	complying with all applicable laws relating to public disclosure or otherwise. 

 You also agree to the terms of the enclosed Covenants Agreement which forms part of this offer of employment, and which expands upon several of the terms and conditions of employment set forth herein. You
also agree to the terms of the enclosed Change in Control Agreement, which forms part of this offer of employment. Congratulations on joining the Company. We are confident you will find your new position both challenging and rewarding. 

 

			
	Tim Hortons Inc.
		
	Per:	 	/S/ PAUL D. HOUSE
		 	Paul D. House
		 	Executive Chairman and CEO

 The undersigned hereby accepts the above offer of employment upon the terms and conditions set out therein. The
undersigned acknowledges that he was given the opportunity to obtain independent legal advice prior to accepting the said offer of employment. The parties hereto shall be entitled to rely on delivery of a facsimile/electronically scanned copy of
this executed document and such copy shall be legally effective to create a valid and binding agreement. 
  

					
	 	 		 	/S/ MARC CAIRA
	Signature	 		 	Marc Caira

  
 Dated May 7, 2013, to be effective as of the
issuance of the press release regarding the CEO appointment. 

  
 Page 8.

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