Document:

Exhibit

Exhibit 10(b)

ARCONIC INC. 
LEGAL FEE REIMBURSEMENT PLAN

Arconic Inc. (the “Company”) hereby adopts, effective as of April 30, 2018, the Arconic Inc. Legal Fee Reimbursement Plan (this “Plan”).  All capitalized terms used and not otherwise defined herein are defined in Section 1 hereof. 
SECTION 1.DEFINITIONS.  As hereinafter used: 
1.1    “Affiliate” shall have the meaning set forth in Rule 12b-2 under Section 12 of the Exchange Act.
1.2    “Benefits Claim” shall have the meaning set forth in Section 2.1.
1.3    “Board” means (a) prior to a Change in Control, the Board of Directors of the Company, and (b) following a Change in Control, if the Company is not the ultimate parent corporation of the group that includes the Company and all of its Affiliates and is not publicly traded, the board of directors of the ultimate parent company of such group.
1.4    “Business Combination” shall have the meaning set forth in Section 1.4(c).
1.5    “Change in Control” means the occurrence of an event set forth in any one of the following paragraphs:
(a)    any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of either (A) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this Section 1.4, the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its Affiliates or (iv) any acquisition pursuant to a transaction that complies with Sections 1.4(c)(i), 1.4(c)(ii) and 1.4(c)(iii);
(b)    individuals who, as of May 24, 2017, constituted the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to May 24, 2017 whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board shall be considered as though such individual was a member of the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board shall not be considered a member of the Incumbent Board unless and until such individual is elected to the Board at an annual meeting of the Company occurring after the date such individual initially assumed office, so long as such election occurs pursuant to a nomination approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board, which nomination is not made pursuant to a Company contractual obligation;
(c)    consummation of a reorganization, merger, statutory share exchange or consolidation or similar transaction involving the Company or any of its Subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its Subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination, (i) all or substantially all of the individuals and entities that were the beneficial 

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owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, 55% or more of the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 30% or more of, respectively, the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) of the entity resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such entity entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent securities), except to the extent that such ownership existed prior to the Business Combination, and (iii) at least a majority of the members of the board of directors (or, for a non-corporate entity, equivalent governing body) of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or
(d)    the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company.
1.6    “Claim” shall have the meaning set forth in Section 2.1.
1.7    “Code” means the Internal Revenue Code of 1986, as it may be amended from time to time.
1.8    “Committee” means the Benefits Management Committee, or any other committee of employees or directors of the Company that is designated by the Board prior to a Change in Control.
1.9    “Company” means Arconic Inc. or any successors thereto.
1.10    “Covered Plans” means the plans and agreements listed on Exhibit A hereto. 
1.11    “Eligible Participant” means a current or former employee of the Company and its Affiliates (or any of their respective predecessors) who is a participant in a Covered Plan as of immediately prior to the effective time of a Change in Control.
1.12    “Entity” means any individual, entity, “person” (within the meaning of Section 3(a)(9) of the Exchange Act), or “group” (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act), other than (a) an employee plan of the Company or any of its Affiliates, (b) any Affiliate of the Company, (c) an underwriter temporarily holding securities pursuant to an offering of such securities, or (d) a corporation owned, directly or indirectly, by shareholders of the Company in substantially the same proportions as their ownership of the Company.
1.13    “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.
1.14    “Incumbent Board” shall have the meaning set forth in Section 1.4(b).
1.15    “Outstanding Company Common Stock” shall have the meaning set forth in Section 1.4(a).
1.16    “Outstanding Company Voting Securities” shall have the meaning set forth in Section 1.4(a).
1.17    “Person” shall have the meaning set forth in Section 1.4(a).

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1.18    “Subsidiary” shall have the meaning set forth in Rule 12b-2 under Section 12 of the Exchange Act.
SECTION 2.BENEFITS.
2.1    Right of Expense Payment.  Following a Change in Control, any Eligible Participant may submit to the Company one or more claims under this Plan (each, a “Claim”) for payment of legal fees and documented out-of-pocket expenses actually and reasonably incurred by such Eligible Participant after the Change in Control in seeking in good faith to enforce any right to payments or benefits that have become due to such Eligible Participant under a Covered Plan and have not been timely paid or provided (“Benefits Claim”).  Subject to the terms and conditions of this Plan, including without limitation Section 2.2, each Claim shall be paid by the Company in accordance with Section 2.3.  For the avoidance of doubt, this Section 2.1 shall have no application unless and until a Change in Control occurs.
2.2    Procedural Requirements.  Payment by the Company of an Eligible Participant’s Claim shall be subject to the following conditions:
(a)     prior to initiating any legal or arbitration proceeding seeking to obtain or enforce any benefit or right provided to such Eligible Participant by a Covered Plan: 
(i)    either: (A) with respect to any Covered Plan that contains an administrative claims procedure, the Eligible Participant has exhausted such procedure and has received a final, unappealable determination from the Company under such Covered Plan denying such Eligible Participant a right or benefit; or (B) with respect to any Covered Plan that does not contain an administrative claims procedure, the Eligible Participant has provided a written notice to the Company, setting out in reasonable detail the Eligible Participant’s claim to a right or benefit under a Covered Plan and the Company has not, within 30 days following receipt of the written notice described in Section 2.2(b), provided, or indicated in writing its willingness to provide, the applicable right or benefit; and 
(ii)    the Eligible Participant has applied in writing for, and received, a determination from, the Committee (which determination shall be given within 30 days following receipt of the Eligible Participant’s written application) that the Eligible Participant’s Benefits Claim is reasonable or being advanced by the Eligible Participant in good faith; provided however, that, if the Committee determines that such Benefits Claim is unreasonable or being advanced in bad faith, and the Eligible Participant nonetheless initiates a legal or arbitration proceeding and the Eligible Participant is determined (by judicial or arbitrator order) to be entitled to a majority of the dollar amount of the Benefits Claim, then the Eligible Participant, upon delivering evidence of such determination to the Committee, will be treated as having satisfied the requirement of this Section 2.2(a)(ii); and   
(b)    any legal or arbitration proceeding brought by the Eligible Participant in seeking to obtain or enforce any benefit or right under a Covered Plan complies with any forum selection, arbitration, or other provision of the Covered Plan with respect to the manner in which such a proceeding may be brought.
2.3    Payment Terms.  Subject to satisfaction of the conditions set forth in Section 2.2, the Company shall pay each Claim within 14 business days after delivery of the Eligible Participant’s written request for payment accompanied with such evidence of fees and documented out-of-pocket expenses actually and reasonably incurred and covered by such Claim, and such evidence of satisfaction of the requirements of Section 2.2, as the Company reasonably may require.  Payment of legal fees shall be limited to hours billed by legal counsel using standard hourly rates, and no payment shall be made in respect of contingent or other non-hourly fees.  In order to comply with Section 409A of the Code, in no event shall the payment by the Company of a Claim be made later than the end of the calendar year next following the calendar year in which the fees and expenses covered by such Claim were incurred, provided, that the Eligible Participant shall have submitted the written request for payment contemplated by this Section 2.3 at least 14 business days before the end of the calendar year next following the calendar year in which such fees and expenses were incurred.  The amount of such legal fees and expenses that the Company is obligated to pay in any given calendar year shall not affect the amount of legal fees and expenses that the Company is obligated to pay in any 

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other calendar year, and the Eligible Participant’s right to have the Company pay such legal fees and expenses may not be liquidated or exchanged for any other benefit.  
2.4    Recoupment.  An Eligible Participant who has received payment of a Claim under this Plan shall be required to repay the full amount received by such Eligible Participant in respect of such Claim to the Company if a court issues a final, unappealable judgment setting forth a determination that the Benefits Claim made by the Eligible Participant was unreasonable or advanced in bad faith.  Repayment shall be made within 30 days following the Company’s delivery of a written notice demanding payment which includes a copy of the judgment referenced in the preceding sentence.
2.5    Withholding.  The Company shall be entitled to withhold from amounts to be paid to any Eligible Participant hereunder any federal, state or local withholding or other taxes or charges (or foreign equivalents of such taxes or charges) which it is from time to time required to withhold under applicable law or regulation.
2.6    Status of Plan Payments.  No payments or benefits pursuant to this Plan shall constitute “compensation” (or any similar term) under any employee benefit plan sponsored or maintained by the Company or any of its Affiliates.
SECTION 3.PLAN ADMINISTRATION.
3.1    Plan Administration.  The Committee shall administer the Plan and, prior to a Change in Control:
(a)    the Committee may interpret and construe the terms of the Plan, prescribe, amend and rescind rules and regulations under the Plan and make all other determinations necessary or advisable for the administration of the Plan, subject to all of the provisions of the Plan; 
(b)    any determination by the Committee shall be final and binding with respect to the subject matter thereof on all Eligible Participants and all other persons; and
(c)    the Committee may delegate any of its duties hereunder to such person or persons from time to time as it may designate.
Notwithstanding anything in the Plan to the contrary, after a Change in Control, neither the Committee nor any other person shall have discretionary authority in the administration of the Plan, and any court or tribunal that adjudicates any dispute, controversy, or claim in connection with benefits under Section 2 will apply a de novo standard of review to any determinations made by the Committee or the Company.  Such de novo standard shall apply notwithstanding the grant of full discretion hereunder to the Committee or any person or characterization of any decision by the Committee or by such person as final, binding or conclusive on any party.  
3.2    Plan Modification or Termination. The Plan may be amended or terminated by the Board at any time; provided, however, that the Plan may not be terminated, or amended in any manner that adversely affects any Eligible Participant’s rights under this Plan, (i) following a Change in Control, or (ii) in anticipation of a specific contemplated Change in Control.
SECTION 4.GENERAL PROVISIONS.
4.1    Non-Assignment.  Except as otherwise provided herein or by law, no right or interest of any Eligible Participant under the Plan shall be assignable or transferable, in whole or in part, either directly or by operation of law or otherwise, including, without limitation, by execution, levy, garnishment, attachment, pledge or in any manner.  No attempted assignment or transfer of any such right or interest shall be effective, and no right or interest of any Eligible Participant under the Plan shall be liable for, or subject to, any obligation or liability of such Eligible Participant.  The Plan shall inure to the benefit of, and be binding upon, the Company and its successors and assigns.  The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform the obligations set forth in the Plan in the same manner and to the same extent as the Company would be required to do so.

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4.2    No Modification of Employment.  Neither the establishment of the Plan, nor any modification thereof, nor the creation of any fund, trust or account, nor the payment of any benefits shall be construed as amending any Covered Plan or as giving any Eligible Participant the right to be retained in the service of the Company, and all Eligible Participants shall remain subject to discharge to the same extent as if the Plan had never been adopted.
4.3    Severability; Captions.  If any provision of this Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and this Plan shall be construed and enforced as if such provisions had not been included.  The headings and captions herein are provided for reference and convenience only, shall not be considered part of the Plan, and shall not be employed in the construction of the Plan.
4.4    Unfunded Plan.  The Plan shall not be funded.  No Eligible Participant shall have any right to, or interest in, any assets of the Company which may be applied by the Company to the payment of benefits or other rights under this Plan.
4.5    Notice and Communications.  Any notice or other communication required or permitted pursuant to the terms hereof shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by United States certified mail, return receipt requested, or by overnight courier, postage prepaid, to the Company at its corporate headquarters address, to the attention of the Chief Legal Officer of the Company, or to the Eligible Participant at the Eligible Participant’s most recent home address reflected on the books and records of the Company.
4.6    Governing Law.  This Plan shall be construed and enforced according to the laws of the State of New York, without regard to its principles of conflicts of law.
4.7    Section 409A.  The obligations under this Plan are intended to comply with the requirements of Section 409A of the Code or an exemption or exclusion therefrom and shall in all respects be administered in accordance with Section 409A of the Code.  Each payment of compensation under this Plan shall be treated as a separate payment of compensation for purposes of applying Section 409A of the Code.  In no event may an Eligible Participant, directly or indirectly, designate the calendar year of any payment under this Plan.   
[Signature Page Follows.]

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IN WITNESS WHEREOF, the undersigned has caused this Plan to be effective as of the date first set forth above.

ARCONIC INC.

By:  ___/s/ Katherine H. Ramundo____________
   Name: Katherine H. Ramundo
   Title: Executive Vice President, Chief Legal 
             Officer and Secretary

Exhibit A
Covered Plans
Deferral Plans
		
	•
	Arconic Deferred Compensation Plan, as amended and restated

		
	•
	Arconic Deferred Fee Estate Enhancement Plan for Directors

		
	•
	Arconic Deferred Fee Plan for Directors 

		
	•
	Amended and Restated Deferred Fee Plan for Directors  

		
	•
	Arconic Fee Continuation Plan for Non-Employee Directors, as amended 

		
	•
	Pechiney Corporation Deferred Compensation Plan, as amended 

Non-qualified Pension Plans
		
	•
	Arconic Employees’ Excess Benefits Plan A, as amended and restated

		
	•
	Arconic Employees’ Excess Benefits Plan B, as amended and restated

		
	•
	Arconic Employees’ Excess Benefits Plan C, as amended and restated

		
	•
	Arconic Supplemental Pension Plan for Senior Executives, as amended and restated

		
	•
	Arconic Global Pension Plan

		
	•
	Alumax LLC Excess Benefit Plan, as amended and restated

		
	•
	Howmet Corporation Retirement Income Makeup Plan “B”, as amended and restated

		
	•
	Howmet Corporation Supplemental Executive Retirement Plan, as amended and restated

		
	•
	Huck International Inc. Excess Benefit Plan for Selected Employees, as amended and restated

Death Benefits
		
	•
	Arconic Executive Death Benefit Program, as amended 

		
	•
	Arconic Executive Life Insurance Plan, as amended 

		
	•
	Arconic Executive Permanent Life Insurance Plan, as amended 

		
	•
	Alumax Executive Post Retirement Life Program, as amended 

		
	•
	Alumax Split Dollar Life Insurance Plan, as amended 

		
	•
	Reynolds Metals Company of Arconic Split Dollar Life Insurance Plan, as amended 

Certain Individual Pension and Retirement Benefit Agreements

The individual pension and retirement benefit agreements with the individuals set forth on the list maintained by the Company for purposes of this Plan.EX-10.37

 IMAX CORPORATION 

Exhibit 10.37 
 EMPLOYMENT
AGREEMENT 
 EMPLOYMENT AGREEMENT (the “Agreement”), dated as of February 15, 2018 between IMAX
CORPORATION, a corporation organized under the laws of Canada (the “Company”), and DON SAVANT (the “Executive”). 

WHEREAS, the Company has employed the Executive in various roles since April 17, 2000; and 

WHEREAS, the Company wishes to enter into this Agreement to engage the Executive to continue to provide services to the Company, and the
Executive wishes to be so engaged, pursuant to the terms and conditions hereinafter set forth. 
 NOW, THEREFORE, in consideration of the
premises and of the mutual covenants and agreements herein contained, the parties hereto agree as follows: 
 1. Employment and
Duties. 
 (a) General. Subject to the terms and conditions hereof, the Executive shall serve as President,
Worldwide Sales and Exhibitor Relations and Executive Vice President, IMAX Corporation, reporting to Mark Welton, President, IMAX Theatres (the “Manager”). The Executive shall perform the duties and services for the Company
as directed by the Manager from time to time. The Executive’s principal place of employment shall be the offices of the Company in Los Angeles, California, subject to regular travel as required by the performance of his duties and the business
of the Company. 
 (b) Exclusive Services. For so long as the Executive is employed by the Company, the Executive
shall devote his full business working time to his duties hereunder, shall faithfully serve the Company, shall in all respects conform to and comply with the lawful and good faith directions and instructions given to him by the Manager, and shall
use his best efforts to promote and serve the interests of the Company. Further, the Executive shall not, directly or indirectly, render material services to any other person or organization without the consent of the Manager or otherwise engage in
activities that would impede his ability to fully perform his obligations hereunder. 
 2. Term. The Executive’s employment
pursuant to this Agreement shall be effective as of February 15, 2018, and shall terminate upon the earlier to occur of (i) the Executive’s termination of employment pursuant to Section 4 hereunder and (ii) December 31,
2018. The period commencing as of February 15, 2018 and ending on December 31, 2018 is hereinafter referred to as the “Term”. Before the end of the Term, the Company and the Executive shall commence discussions
relating to the possibility of extending the term of Executive’s employment with the Company, and the Company shall inform the Executive on or before October 1, 2018 (or such later date as the parties may mutually agree) if it does not
intend to employ the Executive after expiation of the Term. 
 3. Compensation and Other Benefits. Subject to the provisions of this
Agreement, the Company shall pay and provide the following compensation and other benefits to the Executive during the Term as compensation for services rendered hereunder: 

 (a) Base Salary. The Company shall pay to the Executive an annual
salary (the “Base Salary”) of $250,000. The Base Salary will be payable in substantially equal installments in accordance with the Company’s regular payroll practices as established from time to time. 

(b) 2018 Equity Award. 

(i) On or about the time that awards are generally granted to other employees in 2018, the Executive shall receive an equity
award with an aggregate grant date fair market value of $325,000. The equity grant will consist of 25% nonqualified stock options (the “Options”) to purchase common shares of the Company, no par value (the “Common
Shares”) and 75% Restricted Stock Units (“RSUs”). 
 (ii) The Options and RSUs shall be
granted on the terms and conditions set forth in the IMAX Corporation Long-Term Incentive Plan (the “LTIP”), the grant agreements to be entered into between the Company and the Executive pursuant to the LTIP, and this
Agreement. Options and RSUs shall be granted on or about the time that awards are generally granted to the Company’s employees. Except as otherwise provided herein, the Executive must be employed by the Company on the date of grant in order to
receive the Options and RSUs. 
 (iii) For purposes of determining the number of Options and RSUs to be granted pursuant to
this Section 3(b), the Company shall value (i) the Options in a manner consistent with the Company’s financial statement reporting and (ii) the RSUs based on the Fair Market Value of the Common Shares on the date of grant (as
defined in the LTIP). The Options and RSUs shall vest according to the standard schedule for other Company employees. The exercise price of the Options shall be the Fair Market Value of the Common Shares on the date of grant. 

(c) Commission Overrides. The Executive shall be entitled to commission overrides as described in Exhibit A
hereto. The Executive shall not be entitled to full sales commissions in any territory. The Executive’s commission overrides shall be governed by the IMAX Sales Commission Plan, as may be amended from time to time, to the extent not modified in
this Agreement. 
 (d) Benefit Plans. During the Term, the Executive shall be entitled to participate, on the same
basis and at the same level as generally available to other senior executives of the Company, in any group insurance, hospitalization, medical, health and accident, disability, fringe benefit and deferred compensation plans or programs of the
Company (including executive supplemental health benefits) now existing or hereafter established, as in effect from time to time. 

(e) Automobile. The Company shall provide the Executive with an automobile allowance of $1,100 per month (the
“Automobile Payment”). In addition, the Company shall reimburse Executive for the costs of gasoline, insurance, and reasonable 

  
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 operating expenses for that automobile, in accordance with Company policies in effect for
senior executives from time to time. 
 (f) Vacation. The Executive shall be entitled to vacation time of twenty-five
(25) days per year. 
 (g) Expenses. The Company shall reimburse the Executive for reasonable travel and other
business-related expenses incurred by him in the fulfillment of his duties hereunder upon presentation of written documentation thereof, in accordance with the business expense reimbursement policies and procedures of the Company as in effect from
time to time. In accordance with the Company’s Global Travel and Expense Policy, the Executive is eligible to fly Business Class at his discretion. Payments with respect to reimbursements of expenses shall be made consistent with the
Company’s reimbursement policies and procedures and in no event later than the last day of the calendar year following the calendar year in which the relevant expense is incurred. 

4. Termination of Employment. Subject to this Section 4, the Company shall have the right to terminate the Executive’s
employment at any time, with or without Cause (as defined in Section 5), and the Executive shall have the right to terminate his employment at any time and for any reason. 

(a) Termination Due to Death or Disability. The Executive’s employment under this Agreement will terminate upon the
Executive’s death or the Executive’s Disability (as defined in Section 5). In the event the Executive’s employment terminates as a result of the Executive’s death or Disability, the Company shall pay to the Executive (or his
estate, as applicable) (i) the Base Salary and Automobile Payment through and including the date of termination, (ii) an amount equal to the Executive’s accrued and unused vacation pay as of the date of termination and (iii) any
other amounts or benefits required to be paid or provided by law or under any plan, program, policy or practice of the Company (including unreimbursed business expenses properly incurred through the date of termination) ((i) through
(iii) collectively the “Other Accrued Compensation and Benefits”), payable within thirty (30) days of the Executive’s Separation from Service by reason of death or Disability (or as otherwise expressly set
forth in the applicable plan, program or agreement). Except as provided in this Section 4(a), the Executive shall have no further right to receive any other compensation or benefits after a termination of employment due to the Executive’s
death or Disability. 
 (b) Termination for Cause; Resignation. At any time prior to the expiration of the Term the
Executive’s employment may be terminated by the Company immediately for Cause (as defined in Section 5). If, prior to the expiration of the Term, the Executive incurs a “Separation from Service” within the meaning of
Section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as amended (the “Code”) by reason of the Company’s termination of the Executive’s employment for Cause or if the Executive resigns from his employment
during the Term, (A) the Executive shall be entitled to payment of his Other Accrued Compensation and Benefits, payable within thirty (30) days after the Executive’s Separation from Service (or as otherwise expressly set forth in the
applicable plan, program or agreement) and (B) all 

  
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unvested Options and outstanding RSUs will be cancelled without consideration and the Executive shall have no further rights with respect to such Options and RSUs. The Executive shall have no
further right to receive any other compensation or benefits after his termination for Cause or resignation of employment. The Executive shall provide thirty (30) days’ written notice to the Company prior to resigning his employment during
the Term. 
 (c) Termination Without Cause. 

(i) If, prior to the expiration of the Term, the Executive incurs a Separation from Service by reason of the Company’s
termination of the Executive’s employment without Cause, then the Executive shall receive the Other Accrued Compensation and Benefits and, subject to Sections 4(d) and 4(e): 

(A) the Company shall continue to pay the Executive the Base Salary and Automobile Payment in accordance with the
Company’s ordinary payroll practices in effect from time to time for the period equal to the lesser of (A) six (6) months and (B) the remainder of the Term, with payments commencing on the 60th day following the Executive’s
Separation from Service (the “Severance Period”); 
 (B) the Company
shall continue to pay the Executive any commissions payable under the IMAX Sales and Commission Plan and/or this Agreement during the Severance Period, and shall pay ongoing commissions as set forth in Exhibit A following the Severance Period; and

 (C) the Company shall provide the Executive and his eligible dependents with continued participation in the
Company’s group medical plans during the Severance Period or, in the event such participation is not permitted, a cash payment equal to the value of the benefit continuation, payable in three semi-annual installments beginning sixty
(60) days following the Executive’s Separation from Service. The Executive shall continue to be obligated to pay his share of premiums, deductibles and co-payments which may be deducted from the
payment made pursuant to this Section 4(c)(i)(C) in the same manner as if the Executive was actively employed. 
 (ii)
The Executive agrees that the provisions of Section 4(c) are fair and reasonable and that if his employment is terminated without Cause he shall have no further right to receive any other compensation or benefits. 

(d) Execution and Delivery of Release; Restrictive Covenants. The Company shall not be required to make the payments and
provide the benefits under Section 4(c) (other than the Other Accrued Compensation and Benefits) unless (i) the Executive executes and delivers to the Company, within sixty (60) days following the Executive’s Separation from
Service, a general waiver and release of claims in the Company’s standard form and the release has become effective and irrevocable in its entirety, and (ii) the Executive remains in material compliance with the Confidentiality, Non- 

  
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Competition and Intellectual Property Agreement attached hereto as Exhibit B through the Severance Period (the “Non-Competition
Agreement”). The Executive’s failure or refusal to sign the release (or the revocation of such release in accordance with applicable laws) or the Executive’s failure to materially comply with the
Non-Competition Agreement shall result in the forfeiture of the payments and benefits payable under Sections 4(c). 

(e) Mitigation. Subject to the Non-Competition Agreement, the Executive shall be
required to mitigate the amount of any payment provided for under Section 4(c) (other than the Other Accrued Compensation and Benefits pursuant to Section 4(c)(i) and commissions pursuant to Section 4(c)(i)(B)) by seeking other
employment or remunerative activity reasonably comparable to his duties hereunder. Upon the Executive’s obtaining such other employment or remunerative activity, future payments under Section 4(c) that are subject to mitigation pursuant to
this Section shall be reduced by the amount of the Executive’s remuneration from such other employment or other activity during the Severance Period (whether or not paid to the Executive during such period). The Executive shall promptly
disclose to the Company any such mitigation compensation; for the sake of clarity, the Executive shall have no duty to disclose any compensation he earns after the Term of the Agreement. 

(f) Notice of Termination. Any termination of employment by the Company or the Executive shall be communicated by a
written “Notice of Termination” to the other party hereto given in accordance with Section 22 of this Agreement, except that the Company may waive the requirement for such Notice of Termination by the Executive. The date
of the Executive’s termination of employment shall be the date specified in the Notice of Termination. 
 (g)
Resignation from Directorships and Officerships. The termination of the Executive’s employment for any reason shall constitute the Executive’s resignation from (i) any director, officer or employee position the Executive has
with the Company and its subsidiaries and affiliates, and (ii) all fiduciary positions (including as a trustee) the Executive may hold with respect to any employee benefit plans or trusts established by the Company and its subsidiaries and
affiliates. The Executive agrees that this Agreement shall serve as written notice of his resignation in this circumstance. 
 
5. Definitions. 
 (a) Cause. For purposes of this Agreement, “Cause” shall mean
the termination of the Executive’s employment because of: 
 (i) the cessation of the Executive’s ability to work
legally in the United States or Canada; 
 (ii) any act or omission that constitutes a material breach by the Executive of
any of his obligations under this Agreement; 
 (iii) the continued failure or refusal of the Executive to perform the duties
reasonably required of him in his role; 

  
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 (iv) the Executive’s commission of, or plea of nolo contendere
to, (A) any felony or (B) any crime involving dishonesty or moral turpitude or which reflects negatively upon the Company or otherwise impairs or impedes its operations; 

(v) the Executive’s engaging in any misconduct, negligence, act of dishonesty, violence or threat of violence that is
injurious to the Company or any of its subsidiaries or affiliates; 
 (vi) the Executive’s breach of the Non-Competition Agreement or any material written policy of the Company or any of its subsidiaries or affiliates; or 

(vii) any other action by the Executive which is materially injurious to the financial condition or business reputation of, or
is otherwise materially injurious to, the Company or any of its subsidiaries or affiliates, or which results in the violation by the Company or any of its subsidiaries or affiliates of any law. 

The Company shall not terminate Executive for Cause under subsections (ii) or (iii) of this Section 5(a) unless the Company has
provided written notice to Executive describing the conduct that would provide grounds for a termination with Cause, and Executive fails to cure the breach, failure, or refusal within 30 days following receipt of such notice. 

(b) Disability. For purposes of this Agreement, “Disability” means a physical or mental
disability or infirmity of the Executive that prevents the normal performance of substantially all of his duties under this Agreement as an Executive of the Company, which disability or infirmity shall exist for any continuous period of 180 days.

 6. Nondisparagement. The Executive agrees that at no time during the Executive’s employment by the Company or thereafter shall
the Executive make, or cause or assist any other person to make, any statement or other communication to any third party that impugns or attacks, or is otherwise critical of, the reputation, business or character of the Company, its subsidiaries and
affiliates, and their respective directors, officers or employees. 
 7. Recovery of Compensation. All payments and benefits provided
under this Agreement shall be subject to any compensation recovery or clawback as required under law. 
 8.
Section 409A of the Code. 

  
 6 

 (a) The payments and benefits provided under this Agreement are intended to
comply with, or be exempt from, Section 409A of the Code (“Section 409A”) and shall be interpreted or construed consistent with that intent. The Company shall not accelerate any payment or the provision of any benefits under this
Agreement or make or provide any such payment or benefits if such payment or provision of such benefits would, as a result, be subject to tax under Section 409A. If, in the good faith judgment of the Company, any provision of this Agreement
could cause the Executive to be subject to adverse or unintended tax consequences under Section 409A, such provision shall be modified by the Company in its sole discretion to maintain, to the maximum extent practicable, the original intent of
the applicable provision without contravening the requirements of Section 409A of the Code. This Section 8(a) does not create an obligation on the part of the Company to modify this Agreement and does not guarantee that the amounts or
benefits owed under this Agreement will not be subject to tax, interest and penalties under Section 409A. 
 (b)
Anything in this Agreement to the contrary notwithstanding, each payment of compensation made to the Executive shall be treated as a separate and distinct installment payment from all other such payments for purposes of Section 409A. The actual
date of payment pursuant to this Agreement shall be within the sole discretion of the Company. In no event may the Executive be permitted to control the year in which payment occurs. With regard to any provision herein that provides for
reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A: (i) the right to reimbursement or in-kind benefits shall not be
subject to liquidation or exchange for another benefit; (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible
for reimbursement, or in-kind benefits to be provided, in any other taxable year; and (iii) such payments shall be made on or before the last day of the Participant’s taxable year following the
taxable year in which the expense occurred, or such earlier date as required hereunder. 
 (c) Notwithstanding any other
provision of this Agreement, to the extent that the right to any payment (including the provision of benefits) hereunder provides for the “deferral of compensation” within the meaning of Section 409A(d)(1), if the Executive is a
“Specified Executive” within the meaning of Section 409A(a)(2)(B)(i) on the date of the Executive’s Separation from Service, then no such payment shall be made or commence during the period beginning on the date of the
Executive’s Separation from Service and ending on the date that is six (6) months following the Executive’s Separation from Service or, if earlier, on the date of the Executive’s death. The amount of any payment that would
otherwise be paid to the Executive during this period shall instead be paid to the Executive on the fifteenth (15th) day of the first calendar month following the end of the six (6)-month period. 

9. Source of Payments. All payments provided under this Agreement, other than payments made pursuant to a plan which provides otherwise,
shall be paid in cash from the general funds of the Company, and no special or separate fund shall be established, and no other segregation of assets shall be made, to assure payment. The Employee shall have no right, title or interest whatsoever in
or to any investments which the Company may make to aid the 

  
 7 

 
Company in meeting its obligations hereunder. To the extent that any person acquires a right to receive payments from the Company hereunder, such right shall be no greater than the right of an
unsecured creditor of the Company. 
 10. Representation and Warranty. The Executive represents and warrants that he is not subject to
any non-competition covenant or any other agreement with any party that would in any manner restrict or limit his ability to render the services required of him hereunder. 

11. Assignment. This Agreement may be assigned by the Company. The Executive may not assign or delegate his duties under this Agreement.

 12. Binding Agreement. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
heirs, successors and permitted assigns. 
 13. Withholding. Any payments made or benefits provided to the Executive under this
Agreement shall be reduced by any applicable withholding taxes or other amounts required or permitted to be withheld by law or contract. 

14. Amendment; Waiver. Subject to Section 8, this Agreement may not be modified, amended or waived in any manner, except by an
instrument in writing signed by both parties hereto. The waiver by either party of compliance with any provision of this Agreement by the other party (including the failure to insist upon strict compliance with any term, covenant or condition) shall
not operate or be construed as a waiver of (i) any other provision of this Agreement, or (ii) any subsequent breach by such party of a provision of this Agreement. 

15. Governing Law. All matters affecting this Agreement, including the validity thereof, are to be subject to, and interpreted and
construed in accordance with, the laws of the State of California applicable to contracts executed in and to be performed in that State. 

16. Arbitration. Any dispute or controversy arising under or in connection with this Agreement or otherwise in connection with the
Executive’s employment by the Company that cannot be mutually resolved by the parties to this Agreement and their respective advisors and representatives shall be settled exclusively by arbitration in Los Angeles County, California in
accordance with the rules of the American Arbitration Association before one arbitrator of exemplary qualifications and stature, who shall be selected jointly by an individual to be designated by the Company and an individual to be selected by the
Executive, or if such two individuals cannot agree on the selection of the arbitrator, who shall be selected by the American Arbitration Association. 

17. Survival of Certain Provisions. The rights and obligations set forth in this Agreement that, by their terms, extend beyond the Term
shall survive the Term. 
 18. Entire Agreement. This Agreement and the Non-Competition
Agreement contains the entire agreement and understanding of the parties hereto with respect to the matters covered herein, and supersedes all prior or contemporaneous negotiations, commitments, agreements and writings with respect to the subject
matter hereof. All such other negotiations, commitments, agreements and writings shall have no further force or effect, and the parties to 

  
 8 

 
any such other negotiation, commitment, agreement or writing shall have no further rights or obligations thereunder. 

19. Severability. In the event any provision or part of this Agreement is found to be invalid or unenforceable, only that particular
provision or part so found, and not the entire Agreement, will be inoperative. 
 20. Counterparts. This Agreement may be executed by
either of the parties hereto in counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 

21. Headings. The headings of sections herein are included solely for convenience of reference and shall not control the meaning or
interpretation of any of the provisions of this Agreement. 
 22. Notices. All notices or communications hereunder shall be in
writing, addressed as follows: 
 if to the Company: 

IMAX Corporation 
 902 Broadway

 20th Floor 

New York, NY 10010 
 Attention:
Chief Legal Officer 
 if to the Executive: 

On file with Company. 
 All such
notices shall be conclusively deemed to be received and shall be effective (i) if sent by hand delivery or express courier, upon receipt or (ii) if sent by electronic mail, upon receipt by the sender of confirmation of such transmission;
provided, however, that any electronic mail will be deemed received and effective only if followed, within 48 hours, by a hard copy sent by certified United States mail or express courier. 

[SIGNATURE PAGE FOLLOWS] 

  
 9 

 IN WITNESS WHEREOF, the Company and the Executive have duly executed this Agreement on
March 23, 2018, with effect as of February 15, 2018. 
  

			
	IMAX CORPORATION
		
	By:	 	 /s/ Carrie Lindzon-Jacobs

	Name:	 	Carrie Lindzon-Jacobs
	Title:	 	Chief Human Resources
	Officer & Executive Vice President

  

			
	By:	 	 /s/ Ed MacNeil

	Name:	 	Edward MacNeil
	Title:	 	Senior Vice President, Finance

  

	
	DON SAVANT
	
	 /s/ Don Savant

  
 10 

 EXHIBIT A 

Override Commissions for all Territories: 
  

					
	•	  	Sale Agreement:	  	$8,550
			
	•	  	Hybrid:	  	$7,500
			
	•	  	JV (any tier):	  	$5,000

 All override commissions are 100% payable on Theater Opening. The override amounts set forth above are subject to change by
the Company at its discretion, upon notice to the Executive. 
 Departure from Company: Upon termination or resignation from the Company, the
Executive will receive payment of ongoing commissions as follows, on the normal payment schedule: 
 a. Termination for Cause: The Employee receives
no commissions. 
 b. Termination without Cause within 12 months following a change of control (other than Rich Gelfond buying the Company, in which
case commissions will be payable pursuant to Section c. below): The Executive receives 100% of his commissions. 
 c. Termination without Cause (no change
of control): The Executive receives 75% of his commissions. 
 d. Termination due to death or Disability: The Executive receives 100% of his
commissions. 
 e. Resignation by Executive: The Executive receives 50% of his commissions. 

f. Company offers Executive a new agreement on substantially similar terms upon expiration of the Term, but Executive does not renew: The Executive
receives 50% of his commissions. 
 g. Company does not offer Executive a new agreement upon expiration of the Term: The Executive receives 75% of his
commissions. 

  
 A

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